/ by Don Connelly / Best Practices / 0 comments
There’s never been a better time to be in the financial advisory business. And if you’re new to the industry, the opportunity is limitless—if you’re adequately prepared. But if you aren’t, the journey can be a long, slow, uphill slog with a minimal chance of success.
Too harsh? Not at all. It’s a fair warning to anyone who gets into this business with little or no understanding of what it is about and what it takes to succeed.
Historically, the advisory business has attracted young people enamored by numbers, analysis, and their application in the investment world. And most are motivated by the desire to help people achieve financial security. Here’s the deal, though—you can’t help people if they don’t trust you. You can’t build a practice if you can’t convince people to follow your advice. You can’t stay in business if you don’t prospect, and prospects won’t gravitate toward you if you don’t stand out.
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5 Essential Things New Financial Advisors Must Know to Be Successful
/ by Don Connelly / Best Practices / 0 comments
There’s never been a better time to be in the financial advisory business. And if you’re new to the industry, the opportunity is limitless—if you’re adequately prepared. But if you aren’t, the journey can be a long, slow, uphill slog with a minimal chance of success.
Too harsh? Not at all. It’s a fair warning to anyone who gets into this business with little or no understanding of what it is about and what it takes to succeed.
Historically, the advisory business has attracted young people enamored by numbers, analysis, and their application in the investment world. And most are motivated by the desire to help people achieve financial security. Here’s the deal, though—you can’t help people if they don’t trust you. You can’t build a practice if you can’t convince people to follow your advice. You can’t stay in business if you don’t prospect, and prospects won’t gravitate toward you if you don’t stand out.
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The Halo of Ringlets
/ by Don Connelly / Marketing Yourself, Storytelling, analogies and power phrases / 0 comments
I hope by now you’ve done a business plan. A business plan is how you’re going to hit your goals. You’re driving from Bangor, Maine to San Diego, you’re going to pass mile markers along the way. Those are your goals.
Inside your business plan has to be your marketing plan. It’s not enough to go in the morning and hunt, kill and eat.
Listen to this audio podcast or read the transcript below to hear the ‘halo of ringlets’ analogy and an idea on narrowing down and attracting your target market or markets.
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6 Reasons Why You Should Specialize in The Kind of Financial Advice You Give
/ by Don Connelly / Best Practices / 0 comments
In previous posts we’ve discussed the importance of identifying your ideal client in terms of their attributes – be it occupation, geographical location, etc. But if you are to stand out in a crowded market you also need to pinpoint exactly what you can offer your clients in terms of services.
As part of your marketing strategy aim to narrow down to the field or specialty you’re best suited to offer. Don’t try to be ‘jack of all trades’ by offering to provide advice on estate planning and taxation, and everything in-between. If you do, you’ll end up ‘master of none’.
People need to know you are the expert in your field, otherwise you won’t become highly referable. Here’s why you should specialize in the kind of financial advice you give.
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