Enjoy the current installment of "weekend reading for financial planners" - this week's issues starts off with the big regulatory news of the week - that FINRA may be backing away from its efforts to regulate investment advisers - along with two articles about being a good financial planning professional: the first indirectly suggests that perhaps life insurance needs to be recognized as its own profession (with its own professional designation, the CLU); and the other notes that fiduciaries might be trying to hard to get clients by using fiduciary as a tool for instilling fear, uncertainty, and doubt, instead of trying to get clients by acting like a fiduciary in a way that demonstrates leadership and helps clients with their decision-making process.
From there, we look at a series of articles this week about blogging and more generally about using content to attract prospective clients and grow your business as a financial advisor. The first article highlights an advisor interviewed at the recent TD Ameritrade conference who's bringing in $2M per month of AUM purely from blogging in targeted niches; the second looks at how blogging is evolving, noting that while short blog posts are often popular it may be the longer blog posts that really demonstrate your expertise to clients; the third providing a fantastic list of topic ideas for advisors (you'll never have writer's/blogger's block again!), and the last providing some useful tips about how to distribute your blog content so it's read more widely and grows an audience.
Beyond the blogging articles, there's a great piece about how to set good investment defaults with clients so that they will more often make good decisions (or at least need to go further out of their way to make bad ones), an interesting look at how Gen Y advisors may be leaning increasingly towards wirehouses out of a desire for a more structured career environment, a strange-but-true article highlighting research that finds clients may be more inclined to engage in risky financial decisions if they are touched on the shoulder by a woman, and a NY Times discussion of how economics research is beginning to focus on not just the objective economic data but also the subjective data on happiness, raising the question of whether in the future we'll look at Gross Domestic Happiness alongside the country's Gross Domestic Product?
We wrap up with a lighter article from the Harvard Business Review, which serves as a reminder that one of the greatest technology tools to enhance business efficiency and productivity, not to mention client service, was actually invented almost 140 years ago: it's called a telephone, and it's time we picked it up a little more often to just talk to clients (or staff), and perhaps rely a little less on all the email back-and-forth Enjoy the reading!