Weekend Content for New Planners

Weekend Content for New Financial Planners (October 24-25, 2020)

“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.

Improve your prospect conversion rate by clearly defining your prospect process, making it “haggle-free,” and showing you’re not a salesperson:

“We had a pretty low conversion rate. So we had to make a change early on in what we were doing with people that were contacting us. So one of the first things that we did was we implemented a fee structure for our initial consultation. It was amazing when we did that two things happened: (1) we only got people who were really serious about implementing financial planning and getting advice. (2) it changed the perception of the prospect towards working with us to be more in line with what we did. We’re not a used car salesman. We’re not a timeshare presentation. If they hire a professional they go in and pay a doctor, they pay an attorney, they pay a CPA an hourly fee – they’re expecting to get a service. So all of a sudden by leading with that in some of our conversations, it pivoted things instantly and brought us out of a salesman conversation and into a valued advisor conversation.” 

How to Convert Leads Into Clients (Matthew Jarvis & Micah Shilanski, TaylorSchulte.com)

Success stories of advisors prospecting virtually:

“The key strategy for some advisors lies in relationships with existing clients. Take Mark Clure, a principal with Petaluma, Calif.-based Enso Wealth Management, which has around $1 billion in assets. In March, aware that advisors frequently decrease their outreach during tough times, Clure decided to do the opposite, tripling the number of contacts over a three-month period. …The result has been 14 new clients since April, a number Clure characterizes as ‘unusually large.” 

Developing New Clients Remotely (Anne Field, WealthManagement.com)

Negotiating a job offer around the “intangibles”:

How To Negotiate For The Best Job Offer (Caleb Brown, New Planner Recruiting)

From the Kitces archives: tips for career changers getting into financial planning:

“Regarding your question about some advice on what I would do in your shoes, in classic financial planning fashion I have to answer ‘well, it really depends on your personal goals and needs’ as there’s no one-size-fits-all answer. That being said, here are a few key issues/decisions to consider.” 

MailBag: Advice For A Career Changer Transitioning Into Financial Planning (Michael Kitces, Kitces.com)

Experiment with the “Pomodoro Technique” to boost productivity:

“Additionally, the forced breaks help to cure that frazzled, burnt-out feeling most of us experience toward the end of the day. It’s impossible to spend hours in front of your computer without even realizing it, as that ticking timer reminds you to get up and take a breather.” 

Take it From Someone Who Hates Productivity Hacks—the Pomodoro Technique Actually Works (Kat Boogaard, The Muse)

What topic resonated with you? Comment below!

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