One of the biggest fears that people have, when they are looking for a financial advisor, is this: “Is it truly impossible for an advisor to say wire themselves a few million dollars from a client’s account?” I’m going to answer that question in this blog about financial advisors stealing money and how to protect yourself. But before we get into it… Look, there are alot of schmucks out there hawking crap products disguised as financial advice. Don’t be fooled! I’m not a lawyer – so please don’t interpret anything I say here as legal advice. Do your own diligence when you are seeking financial ..read more

Finding someone to take over your practice is a huge challenge across the entire industry. Don’t give up! This blog provides practical tips for financial advisor succession planning. It’s a huge problem From a subscriber: “I am in my mid 60s and have no immediate plans to retire. How do I best answer the question if prospects (or clients) ask about my plans to retire? How best to give them reassurance that our team has a deep bench?” I’m not even going to try to beat around the bush. This is the blunt truth about financial advisor succession planning (or lack ther ..read more

Yes, there is life after AUM fees! In this podcast I interview Sarah Charles, an hourly financial planner who used to work under the AUM fee model. She talks about why she made the jump and what life is like now as an hourly financial planner. For those of you who are new to my blog, my name is Sara. I am a CFA® charterholder and financial advisor marketing consultant. I have a newsletter in which I talk about financial advisor lead generation topics which is best described as “fun and irreverent.”  I am an irreverent and fun marketing consultant for financial advisors.The AUM fee mo ..read more

Question from a subscriber: “I’d like to be funny but being a financial advisor is a serious job. I’m scared to lose credibility.” Agree. I wouldn’t want my heart surgeon trying to make me crack up, either. But there are certain stages in the process of earning a client’s trust where a leeeetle financial advisor humor can be a huge asset. Where to use it Two specific places – your website and your social media. Let me show you. Actions you can take TODAY #1 Say something funny on the home page of your website. It’s the part that gets the most attention and most are totally ho-hum. Ex ..read more

Question from a member, “I have less than 500 followers on LinkedIn. Should I get 500 just so my profile page says “500+ followers?“ While it’s important to grow your network on LinkedIn, “growth for growth’s sake” doesn’t make any sense. I’d rather see you have 30 connections if they are on the same mission […] To access this post, you must purchase Membership Prime Portal. The post Vid 101: Tips for building your following appeared first on Sara Grillo ..read more

If you are frustrated by marketing failures, or feel like you are throwing away money on marketing that doesn’t work, here are the reasons why. Stop throwing money away! Question from a subscriber: “I spent $1k on marketing and got zero leads. Should I stop marketing?” Nah. You should not necessarily stop marketing, but you should press the “pause” button until you figure out why it failed. Reasons why marketing fails – 3 possible examples Here are three possible reasons, ranking from most to least likely: #1 Did not listen to the buyer Lack of relevance to the buyer is the #1 r ..read more

Use your out-of-office response as a way to make people laugh; it conveys positive energy. Why does your out-of-office message matter? Every touch you have with a client or prospect is branding. It does not matter how small an element it is. Your brand should convey energy and better if it is positive energy. Why? Positive people are rare. Try being so positive in your business, that people think you are on crack. Take this action TODAY Don’t just state the obvious, “I’m out of the office today, contact Carolyn in my absence.” Soooo boring. Try this: “I’m unable to be reached today a ..read more

Here’s how to handle a financial planning fee objection. Don’t get talked down – follow these steps! Financial planning fees can be hard to justify Question from a subscriber: “Prospects all say my financial planning fee is too high, and try to negotiate down.” The issue here is most likely they have no idea what they are actually getting for the financial planning fee they are about to pay. So you have to think out loud for them. I can not be any clearer when I draw this distinction: Not sell, but think, out loud. Actions to take TODAY Say this: “So it’s goi ..read more

Please use this list to contact flat fee or advice-only advisors close to you for networking or other purposes. Please note: This list of flat fee and advice-only advisors by state is not an endorsement of any particular individual, their firm, or their services; please do your own research when selecting a financial advisor. There is nothing that guarantees that accuracy of this content and it is subject to change without notice. Alabama  Chad Holmes http://www.formulawealth.com Flat-fee comprehensive financial planner helping baby boomers and their parents proactively minimize taxes bet ..read more

Question from a subscriber: “I recently wrote a book. How do I get people to buy a copy?” Selling a book online is no joke. Here are some tips to help you get super famous and become a best seller! How to sell a book on Amazon Go on Amazon and find someone who wrote a similar book, and sold a gazillion copies. Figure out how they did it by checking out their social media or website. What reporters interviewed them? Where did they speak? Which special interest groups seem to support this kind of topic? What influencers have promoted the book to their audience? Yeah? Yah. I ..read more