Weekend Content for New Planners

Weekend Content for New Financial Planners (May 28-30, 2022)

“Weekend Content for New Financial Planners” is a collection of articles, podcasts, videos, etc. that I’ve been consuming regarding breaking into financial planning, industry trends, career development, and more.

Riskalyze CEO Aaron Klein on marketing and technology trends as well as [Video]:

  • How to not be overwhelmed by digital marketing
  • Where to start with your messaging
  • Thoughts on machine learning
  • And more…

Jolt! 2022: Aaron Klein On 21st Century Advisor Marketing And Digital “Surround-Sound” Targeting [David Armstrong, WealthManagement.com]

The power of niches on growth (and their impact on operations) [Article]:

“To Mark Tibergien’s point about those with a niche driving the business forward, Nikolee Turner cited statistics from Schwab’s benchmarking studies when she joined the podcast, ‘One of our favorite benchmarking data points around the power of that ideal client persona and getting really clear on who you’re trying to serve is that firms that have a documented ideal client persona add 28% more clients annually, which represents 45% more assets (than those firms without a defined ideal client).'”

It’s Official! Client Niche Drives Growth [Matt Sonnen, WealthManagement.com]

The Oechsli Institute’s Director of Coaching Kevin Nichols on factors he sees as actually differentiating firms today [Article]:

“What would you guess is the most commonly used differentiator among financial advisors? If ‘service’ comes to mind, you’re right. Our research shows that 56% of financial advisors claim that ‘outstanding personalized service’ is what makes them different. Doesn’t that feel like an oxymoron? Over half of advisors are singing the same song.

We’re not saying that ‘service’ can’t be a differentiator, it certainly can. You’ll just need to back it with some quantifiable evidence. However, for most advisors, we’re looking for something more unique. A differentiator that clearly stands out amongst the crowd. And yes, you can have multiple differentiators, you’ll just need to be clear in communicating them.”

How To Differentiate Your Financial Advisory Practice [Kevin Nichols, WealthManagement.com]

Several aspects to consider with a subscription-based fee model including transparency, “subscription fatigue,” and more [Video]:

Subscription Fee For Financial Planning: Pros And Cons [Caleb Brown, New Planner Recruiting]

FMG CMO Susan Theder with tips on communicating with clients during market volatility [Article]:

“Frequent communication is one of the most important ways you can establish trust with your clients. In fact, according to a recent McKinsey & Co. survey on global wealth and asset management, clients’ satisfaction with their financial advisor is directly correlated with the frequency of the advisor’s communications.

Yet only 33% of clients in the study said their advisor connects with them at least once a month. Sixty percent of clients hear from their advisor every three months or less.

Couple this with data found in a Financial Advisor survey asking clients why they fired an advisor. A whopping 72% named poor communications as a problem, and it was the No. 1 reason cited by almost 20%.”

5 Tips For Client Communication During Times Of Volatility [Susan Theder, FA-Mag.com]

How to make a lasting impression on clients [Article]:

“Nearly one in three customers say they would stop patronizing a beloved brand after one bad experience, according to PwC’s Future of CX. One bad experience. Their favorite brand!

This places tremendous pressure on you as an adviser. How can you achieve this premier level of client experience that consumers have come to expect? How can you transform clients and prospects into loyal, raving fans?”

First Impressions Last, So Go Beyond The Basics [Robert Sofia, InvestmentNews]

Which piece of content did you like? Comment below!

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