14 Ways Financial Advisors Are Like Personal Trainers

I’m a fan of a good analogy. They’re entertaining, bring clarity to obscure concepts, deliver ‘ah-ha’ moments, and stick with us for a long time.

Last week I noticed a headline on my LinkedIn feed that offered an interesting analogy: Why A Financial Advisor Is Like A Personal Trainer.” I never stopped to consider the similarities between a financial advisor and a personal fitness trainer, but John Schlifske, Chairman & CEO of Northwestern Mutual, made an interesting comparison in this video:

His short story got me thinking. Are there other ways financial advisors are similar to personal trainers? Oh wow. After just a few minutes, the similarities I could think of felt endless. Below I’ve listed 14 of my favorites, links to helpful resources and explained why you can use this analogy to attract new clients.

14 Ways Financial Advisors Are Like Personal Trainers

1. People seek your help to feel healthier.

Trainer: about their body, energy, strength…

Advisor: about their retirement, savings, mortgage, stocks…

Use this in your marketing:
Read the blog post “Don’t forget clients were cavemen

2. Your competitors offer similar benefits.

Trainer: “Bob said he can help me lose 10 lbs in 2 months, too. Why should I choose you?”

Advisor: “Bob said he can help me earn X% over 10 years, too. Why should I choose you?”

3. So, having an expertise wins new clients.

Trainer: “Oh, you work mostly with post-pregnancy moms in their late 20’s who want to build core strength? Interesting… That sounds a lot like me.”

Advisor: “Oh, you work mostly with public school teachers with 20 years until retirement and moderate risk tolerance? Interesting… That sounds a lot like me.”

To learn how you can do this, download our free guide:
How To Stand Out From the Crowd

4. A free session demonstrates your value.

Trainer: You meet them at gym, go through a few exercises and demonstrate what your kind of training would be like.

Advisor: You bring them onto your client portal, have them sync their own accounts and demonstrate what your kind of advising would be like.

5. Clients are vulnerable in front of you.

Trainer: Exposing their weight, embarrassing physical shortcomings, asking silly questions and sweating when things get tough.

Advisor: Exposing their assets, embarrassing financial shortcomings, asking silly questions and sweating when things get tough.

6. You develop custom plans for specific needs.

Trainer: Exactly what you’d need to do together to reach their fitness goals and how this plan would evolve over time.

Advisor: Exactly what you’d need to do together to reach their financial goals and how this plan would evolve over time.

7. You advise against bad advice.

Trainer: They may want to do 500 burpies over the weekend because their friend’s husband’s cousin lost 2 pounds that way.

Advisor: They may want to throw $50k at the next IPO of a tech company in a Denver suburb because their friend’s husband’s cousin tripled his money that way.

8. The effect of your work is mostly long term.

Trainer: It takes 40 minutes of cardio, an hour of weight training, and a balanced diet each day to lose weight over time.

Advisor: It takes consistent contributions, strategic management of cash flow, prioritizing of investments, and more to reach financial goals over time.

9. Your clients are motivated by incremental change.

Trainer: “What was my BMI last month and what is it today? What’s the change?”

Advisor: “What was my net worth last month and what is it today? What’s the change?”

The Blueleaf client portal delivers these answers in a simple, specific way that clients love.

10. You give frequent reports of their progress.

Trainer: Keeping them calm when faced with a +1.5 lbs on the scale and focused on their long term work with you.

Advisor: Keeping them calm when faced with red CNBC tickers and focused on their long term work with you.

Read this post on “The CNBC Effect“.

11. You work better when you know more.

Trainer: So you prefer to advise on their diet as well.

Advisor: So you prefer to advise on their held-away assets as well.

Want this? Get account aggregation technology and advise on held-away accounts.

12. Your clients tell others when you’re exceptional.

Trainer: And over the next two years, that 1 happy client will refer 6 friends who also need help losing post-pregnancy weight.

Advisor: And over the next two years, that 1 happy client will refer 6 friends who also need help saving for retirement from their public teaching career.

13. Other professionals might send you referrals.

Trainer: Dietitians, physicians, etc. work with people who also need personal training. You do everything you can to make collaboration with these professionals simple and easy so they’re more likely to send referrals.

Advisor: Lawyers, accountants, etc. work with people who also need financial advising. You do everything you can to make collaboration with these professionals simple and easy so they’re more likely to send referrals. (Advisors can do this by making information about mutual clients accessible through secure online data-sharing software, like Blueleaf.)

Grab a free guide on “How To Turbocharge Your Financial Advisory Referral Program

14. You aren’t constrained by geography any more.

Trainer: With a combination of Skype chats, YouTube video training, and online progress tracking, you can train clients near and far.

Advisor: With a combination of Skype chats, web-based planning software, and an online client portal, you serve clients across the nation.

Read a real advisor story, “The Key To Delivering Exceptional Service on a National Scale

You can use this analogy to attract new clients

Regardless of your target market, a percentage of them are bound to be health-conscious. Personal fitness is a passion among a variety of people. Use this comparison to attract, inform, entertain, and explain to them how your services are similar to those of a personal fitness trainer. You’ll be speaking their language. They’ll get it.

Share this post with your network, and invite them to contact you to discuss how you can improve their “Financial Fitness”.

Send an email
Tweet it
Share on LinkedIn
Post on Facebook

Can you think of a 15th way Financial Advisors are like Fitness Trainers? Share your idea in the comments!









Photo credit: Dmitry on Flickr

Carolyn McRae Carolyn is Blueleaf’s in-house marketing guru. She writes on The Blueleaf Blog to make advisors’ lives easier, offering practice management and client engagement tips where and when they’re useful. Outside of the Blueleaf offices, she can be found running a 10k or cooking her famous chili. Chat LIVE with Carolyn on Twitter @BlueleafAdvisor!
  • Pingback: Set Up a Personal Facebook/Twitter : The Lions Blog | Loans reference site()

  • Pingback: UFC Personal Trainer | WWW.GETONBOARDBC.COM()

  • Pingback: 14 Ways Financial Advisors Are Like Personal Tr...()

  • dakihitt

    Recently I was really, really low on money and debts were eating me from all sides! That was UNTIL I decided to make money.. on the internet. I went to surveymoneymaker dot net, and started filling in surveys for cash, and surely I’ve been far more able to pay my bills!! I’m so glad, I did this!!! With all the financial stress these years, I really hope all of you will give it a chance. – 7W77

  • Huntington Beach Chiropractor

    Huntington Beach Chiropractor diagnose encompass fracture, nerve problems, tumor, implant issues and serious injuries. Recognized as a health care profession, chiropractic care is effective treatment to dwindle acute back pains. It is suitable and beneficial to folks who wish to maintain healthy spine for protracted time.