Top 40 Tweets From FPA Retreat

Posted by Michael Kitces on Sunday, May 15th, 1:41 am, 2011 in Conferences

Earlier this month the Financial Planning Association hosted FPA Retreat, one of the leading cutting edge conferences on the art and science of financial planning. Drawing hundreds of attendees from across the country (and around the world, with participants coming from as far away as Australia!), the conference never lacks for interesting ideas and conversations, both within the sessions and out in the hallways. This year, though, those who didn't attend still had the opportunity to enjoy some of the content virtually, thanks to an active group of participants who "live Tweeted" highlights throughout the conference on the #FPARetreat11 hashtag. For those of you who missed it, here are some of the highlights...

The average 30 yr old has had 11 jobs. In the future it will be 200-300 projects. How will you plan? @ThomasFrey #FPARetreat11   - @MichaelKitces

 

How different will financial planning be when the client knows as much about their financial needs as you do? @ThomasFrey #FPARetreat11   - @BillWinterberg

 

Top investment in brand isn't web & logo designers. It's investing in your writing & communication skills to convey it. #FPARetreat11   - @MichaelKitces

 

The only way to get great customer relations is to treat your employees like your very best customer. #fparetreat11   - @Joshco0752

 

The "I'm the expert, you're the novice, I'll tell you what to do" model is NOT motivational environment to help clients change #FPARetreat11   - @MichaelKitces

 

When it comes to changing behavior, an authoritative manner is not helpful. Miller-Kovach #fparetreat11   - @MkCorbin

 

Four Key Questions: Expert to Expert What do you want to happen? What needs to happen? Can you? Will you? Miller-Kovach #FPARetreat11   - @BillWinterberg

 

Being overweight is the new normal, affecting 2/3rds of Americans. The $ parallel, 70% of Americans live month to month #fparetreat11   - @RickKahler

 

We need to understand that our customers are the experts at what they want and what's important to them. #fparetreat11   - @Joshco0752

 

Just saw awesome video by @equalman for #FPARetreat11 social media panel re social media explosion. Thx @BillWinterberg http://bit.ly/m3Iqh9   - @MichaelKitces

 

"If the SEC ever banned use of Twitter/soc media, I'd probably go down in a blaze of tweets." -@RickKahler #FPARetreat11   - @MichaelKitces

 

Social media has overtaken pornography as #1 activity on the web. Social Media panel #fparetreat11   - @MkCorbin

 

Mauer: I don't gauge metrics on social media as value to me, but as value to clients. Social Media panel #fparetreat11   - @MkCorbin

 

Positioning your firm & describing who/what/how you can help really motivates clients to refer to you #FPARetreat11   - @RachelSanborn

 

Social media isn't about marketing to people. It's about relating to them. #FPARetreat11   - @MichaelKitces

 

Facebook is personal. So if you want a personal relationship w/ your clients, how can you NOT be on FaceBook and friend them? #FPARetreat11   - @MichaelKitces

 

"We switched to Treasuries in 2008 crisis due to money market fears. But why can't we think about equity changes?" -Cordaro #FPARetreat11   - @MichaelKitces

 

"We all want a silver bullet to kill 2008 vampire if it ever returns. But next crisis will be a different monster." -Cordaro #FPARetreat11   - @MichaelKitces

 

"With increasing complexity of portfolio management, some firms will allocate resources, others will outsource." -Miccolis #FPARetreat11   - @MichaelKitces

 

"The brake to exponential growth is nature. We cannot grow infinitely on a finite planet." -Greco #FPARetreat11   - @MichaelKitces

 

"China appears more authoritarian from here than it feels when you're there. Chinese are very entrepreneuial." -Wyss #FPARetreat11   - @MichaelKitces

 

"Despite all the propaganda, we are not getting the health care results we pay for. High costs, poor outcomes." -Wyss #FPARetreat11   - @MichaelKitces

 

Monte Carlo should measure not just the probability of failure but the magnitude. -Shambo #FPARetreat11   - @MichaelKitces

 

"Clients are less concerned about the probability of success than the consequences of failure." -Shambo quoting Bogle #FPARetreat11   - @MichaelKitces

 

In connected world, u don't find clients, they find u... through content you make available. Be discoverable. -@BillWinterberg #FPARetreat11   - @MichaelKitces

 

If your clients Google you, what DO they find? -@BillWinterberg #FPARetreat11   - @MichaelKitces

 

Your clients and prospects want to SEE who you are. Your website needs video. -@BillWinterberg #FPARetreat11   - @MichaelKitces

 

"Numbers don't mean anything w/o a story; a story doesn't mean anything w/o some numbers." -Lazenby #FPARetreat11   - @MichaelKitces

 

"It's fun to talk about left brain and right brain, but at the end of the day, your clients have one WHOLE brain." -Lazenby #FPARetreat11   - @MichaelKitces

 

Who pays more & has more fun? Buy teddybear or go to build-a-bear? Do you sell a plan or give clients build-a-plan experience? #FPARetreat11   - @MichaelKitces

 

Why do we make fp like a dental visit, math class and marriage therapy combined? We need a better experience. -Lazenby #FPARetreat11   - @MichaelKitces

 

"The #1 reason clients don't share with planners is b/c they fear they might be judged." -Lazenby #FPARetreat11   - @MichaelKitces

 

Yeske/Buie: we need to be training planners from the beginning to balance head and heart work with clients. #FPARetreat11   - @LKirchenbauer

 

Consider having a debt policy for clients in addition to an investment policy. #FPARetreat11   - @RachelSanborn

 

Happiness doesn't just feel good. Happiness IS good. Good moods lead to all sorts of positive outcomes. -@BiswasDiener #FPARetreat11   - @MichaelKitces

 

Money allows people to live their values and be more happy. So money does matter. @BiswasDiener #FPARetreat11   - @MichaelKitces

 

Having money leads to more happiness. But putting a high value on money has a dramatically opposite effect. @BiswasDiener #FPARetreat11   - @MichaelKitces

 

Happiness is so important that measuring it once for an 18 yr old on a random day predicts income 20 yrs later. @BiswasDiener #FPARetreat11   - @MichaelKitces

 

The trick to happiness is to have wealth without wanting it. @BiswasDiener #FPARetreat11   - @MichaelKitces

 

Planners contribute to happiness b/c they provide hope for a better tomorrow. @BiswasDiener   - @MichaelKitces

 

So there you have it. You can see more of the discussion from FPA Retreat by checking out the #FPARetreat11 hashtag, and follow some of the active tweeters from the conference. Stay tuned for more live-tweeting from future conferences as well, including #NAPFA11 this coming week!

 


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