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Issue: #507
July 21, 2025 |
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Qui pauca legit, pauca scit.
In English:
“He who reads little, knows little.”
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Greetings,
Welcome to this week's Advisor Training newsletter. Our goal is to provide training, education and insights for those who adhere to our client-first, counter-cultural, and sometimes counter-intuitive investment and business philosophy. |
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- Main Event: My Low Cost Advisor Technolgy Stack.
- Brief summary of Epiphany #29: Don't Wait for Perfect.
- Review of last week's quiz
- Updates, News and Announcements
- and much more...
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Hit a snag with this one prospect where they said they were really interested but then stopped responding. They recently emailed me and said they are going through something personal and can't work with me for a while. What do I say back? |
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Say this:
"I remain committed to your financial success. Please keep reading my monthly newsletter as your personal situation evolves and let me know if you'd like me to discuss any questions of yours in one of my editions."
It's a long term relationship, 20-30 years. Thinking of it as a "meeting my revenue goal for this quarter" is stock broker stuff, and that's really more about you than them. |
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#11 ― AdvisorFirst Dailies Telegram chatroom |
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Read the trainings posted daily in the 'AF Dailies' Telegram chatroom.
It usually requires only 15 - 20 minutes per day. |
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Think and Grow Rich by Napoleon Hill
Think and Grow Rich was written in 1937 and is one of the top ten books of all time on personal development and self-improvement." |
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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. and even use your own custom email address with your clients!
IP even allows personalized branding, such as “Smith’s Wealth Management” (subject to FINRA and SEC disclosure rules). However, I don't recommend it as it is a compliance intensive and can be confusing to clients. Instead, just get a custom email and website.
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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What is a Roth/TIRA Recharacterization? |
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- Converts one entire account type to the other.
- Converts this year's contributions only from one type to the other.
- Converts Roth/TIRA to different owner.
- Converts Roth/TIRA to a 401k.
- Converts Roth/TIRA to Non-Qualified account.
- There is no such thing as a 'recharacterization'.
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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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