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Weekend Reading For Financial Planners (February 10-11)

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a recent survey sponsored by CFP Board demonstrates the upsides of a career in financial planning, from a median salary of nearly $200,000 to flexible work schedules and a strong sense of purpose among advisors. In addition, related research suggests further opportunities for firms looking to acquire and retain talent, from providing a greater sense of autonomy to building effective service teams.

Also in industry news this week:

  • A recent study finds that having a defined marketing strategy is a linchpin of marketing success, as advisors with a defined strategy were more likely to have seen an increase in inbound leads during the past 12 months and have more confidence in meeting their practice goals during the coming year than those without one
  • The number of RIA-focused annuity marketplaces and their sales volume continues to grow as many brokers turn to the RIA channel and commission-free annuity offerings make annuities more attractive to fee-only advisors

From there, we have several articles on advisor marketing:

  • How creating content that answers the questions of a firm’s ideal target client can help it build trust with prospective clients even before meeting with them
  • How advisors can best leverage client testimonials and reviews, including why video is often the most effective medium to deliver them 
  • How advisors can effectively ask for client referrals without coming off as too ‘salesy’

We also have a number of articles on cash flow and spending:

  • How advisors can help clients better understand the “why” of their spending habits
  • Why a significant number of younger Americans are suffering from “money dysmorphia” and how advisors can help them see the reality of their finances
  • An exploration of research-backed methods for generating the most happiness when it comes to spending money, from ‘buying’ time to delaying consumption

We wrap up with 3 final articles, all about saying “no”:

  • How curating a shorter to-do list can help individuals overcome “planning bias” and get more done on time  
  • Why saying “no” to invitations and opportunities can free up time for one’s highest priorities
  • Experimental findings suggest that people tend to overestimate how upset those offering an invitation will be if the invitee decides to decline it, suggesting that individuals can keep more free time in their schedule without burning bridges with friends and family

Enjoy the ‘light’ reading!

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