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“If you don’t like where you are, then change it, you’re not a tree! |
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Greetings,
Welcome to this week's Advisor Training newsletter # 473. Our goal is to provide training, education and insights for those who adhere to our counter-cultural and sometimes counter-intuitive investment and business philosophy. |
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"I'm currently looking hire and spend $5-15k on marketing, is this a good idea?" |
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Real talk.
First, decide if you should be doing any marketing at all. Are you mentally up for this? Getting new business is a war zone, it's hard, and it stinks.
I'd rather have you spend your money taking your clients out to lunch or for a game of golf and trying for a referral. |
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#10 - Prompt, Two-Way Communication |
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- Have prompt, two-way communication with your clients and peers (max 24 hours delay).
- For Advisors make sure to install Telegram on your phones, tablets, computers and turn ON notifications.
- When communicating with your clients, make sure to be concise, clear and direct. Don’t “sugar coat” or “beat around the bush”. It may feel better to soften things up, but it’s causes more problems in the long-run. Always tell the plain, unvarnished truth.
- Return your clients’ voicemails within 24 hours.
- Return your clients’ emails within 12 hours.
- Return your clients’ SMS/TXT within 6 hours.
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Nick's first book and introduced his unique approach on financial services sales. |
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#12 ― Ads, Websites, Marketing, Business Cards etc. |
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“Absorb what is useful, discard what is useless and add what is specifically your own.” |
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Among many other benefits under this heading is the freedom to customize your own business cards and your own website.
IP even allows personalized branding, such as “Smith’s Wealth Management” (subject to FINRA and SEC disclosure rules).
IP is very permissive in social media and other marketing programs that many other B/D's don't allow. For example, by signing up with Global Relay ($50/m) you can post marketing pieces on Instagram, LinkedIn, X and Facebook. They allow the customization in email/social media Ads. I've gotten many marketing pieces approved that I was not able to at previous B/Ds. |
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Premature distribution from a qualified retirement plan can result in tax penalty of... |
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Answer = 3
10% penalty in addition to the back taxes that you would have paid if the money was never in a tax qualified plan to begin with. |
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Michael Paulding Thomas
Securities Principal & Advisor Development
Over three decades of training part-time and full-time financial advisors. Developed 2 $200k-earners, 10 $100k-earners, 15 part-time $50k-earners and built a $1.6M revenue sales force.
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