#AdvisorHacks & #FinSci

#Advisorhack: Never Forget A Name

#Advisorhack: Never Forget A Name

Forgetting someone’s name is bad. Remembering someone’s name who doesn’t remember yours, on the other hand, is impressive. In the advisory business, your contacts–whether clients, colleagues, friends, acquaintances–are your livelihood. Forgetting (or remembering) a name could be the difference between a new client and a disappointment. What can we do to make sure that we never forget a name?…

3 Essential Communications Skills Every Advisor Should Master

3 Essential Communications Skills Every Advisor Should Master

1. Brevity

We’re all busy.

The same questions are always being asked. Every business person, financial advisors included, has a specific canon of questions they’re (incessantly) asked, and it’s likely that your questioner is aware of this fact. Have your answers ready. Craft them thoughtfully and honestly, but have them (loosely) memorized.

Be brief.

When somebody asks you for your “story,” or “why you’re an advisor” don’t um and ah over which details are relevant, just have a response prepared (these responses should take less than 2 minutes to recount, by the way).…

#Advisorhack: Leave Your Assets At The Office

#Advisorhack: Leave Your Assets At The Office

It’s hard out here for an advisor…

Perhaps the biggest contradiction inherent to financial advisors is that the job itself requires two very different skill sets:

People skills (for earning, engaging, learning about, and managing clients) and

Analytical skills (to make sound suggestions regarding a clients assets)

These skills are often siloed in other businesses (think sales versus IT), but in order to be a great advisor you must possess both faculties and be able to leverage each of them appropriately.…

#Advisorhack: Time Is On Your Side

Time Is On Your Side…

It’s not what we say is a priority, but what we actually DO that’s a priority.
– J.D. Roth, founder of Get Rich Slowly

In other words, “I don’t have time” is an excuse, a lie. That’s why Nerd Fitness recommends replacing the common refrain, “I don’t have time,” with a different phrase, “It’s not a priority,” that actually puts things into perspective.…

Parsing the Fears of the Wealthy

Parsing the Fears of the Wealthy

Eat The Rich?

Did we all catch The Atlantic’s feature, Secret Fears of the Super-Rich? Forgive me for the lengthy quotes–“feature” means 4 pages on TheAtlantic.com–but here’s the gist of the piece in short:

Taken together, the survey responses make a compelling case that being fantastically wealthy—especially when the wealth is inherited rather than earned—is not a great deal more fulfilling than being merely prosperous.

Advisors Gone Viral!

Advisors Gone Viral!

Content Gets Emotional

The first post that I wrote for this blog was a content strategy document for financial advisors, or anyone, really. The third step of four in this strategy was all about the the specific piece that you’re writing. We added a simple exercise to help you figure out if the idea for the piece you want to write actually helped your audience accomplish their goals.…

#Advisorhack: Get In Over Your Head

#Advisorhack: Get In Over Your Head

Sink Or Swim… It’s The Fastest Way To Learn.

The idiom “in over your head” has a very literal translation, that of being in over your head in water. And what happens when you’re in over your head? Ultimately, you sink or swim. But really, it’s not so black and white. What about that fleeting moment of trial and error where you go under, swallow a little water, and flail about before you figure out how to tread?…

$PSYC: How Much Stock Do You Put In Psychology?

$PSYC: How Much Stock Do You Put In Psychology?

The Psychology of Money

We know that emotions are, often subconsciously, heavily weighed in financial decision-making. The fact that behavioral economics is an actual course of study proves this fact, although I doubt it needs vetting. I think it also becomes quite apparent to professionals who are steeped in money-talk–like financial advisors–how money is situated in the American psyche.…

#Advisorhack: Finding Not-So-Corny Finance Photos

Images give your blog interest and personality. And let’s be honest, finance blogs don’t score very well on the Interesting Blog Scale. We humble finance bloggers need to step up our photo-game.

Can we all agree to never use stock photography?

Seriously. It’s awful. No road signs pointing to ambiguous destinations. No close-ups of handshakes. No large, arrow-laden graphics that look like they were ripped from a 1990’s flowchart.…