Work-Life Strategies & Solutions

On the Evolution of Work Systems in the Digital Economy

Category Archives: Psychology

Building a Financial Advisor Marketing Plan That Works

This article was originally published at ModelFA.com.

financial advisor marketing, Building a Financial Advisor Marketing Plan That Works

Still think that a financial advisor marketing plan is just for the big firms? Think again!

Running a financial advisory firm is hard. In the early years, it’s a hustle to find clients and pay the bills. Five to seven years into the practice, there are workflows to optimize, staff to hire and train, and a full book of business to manage. Life gets busy.

Which is why so few advisors go the extra mile and create a marketing strategy. According to Pershing, only 30% of all advisors have a formal marketing plan.

The remaining 70% must believe that “hustling” is their marketing plan.

That is a big mistake. Those who fail to invest in an advisor marketing plan might save some time on the front end — but they hurt their practices in the long run. There’s the stress of not knowing where your next client will come from. There are periods of “feast or famine”, when the office is either dead — or swamped with urgent work. Finally, without an overarching plan, it’s impossible to be sure that your professional practice will be intentional and ideal for you as the advisor.

Why don’t more advisors have a marketing strategy? Many of them find the task daunting. Some don’t know where to start.

Here’s a simple blueprint that will demystify the process and put you back in the driver’s seat.  Read more of this post

Facebook for Financial Advisors: 3 Myths, Debunked

This article was originally published at ModelFA.com.

Facebook for financial advisors, Facebook for Financial Advisors: 3 Myths, Debunked

Don’t let common advisor Facebook marketing mistakes burn through your budget!

Every year, the world seems to get ever more anchored in technology and social media. The pressure is ramping up, and advisors are making an effort to become more “digitally available” to their prospects and clients. And yes, that includes trying to crack the code on “Facebook for financial advisors”.

This has created an interesting shift in our industry. Online marketing topics have become the mainstays of advisor conferences. Many compliance departments have no idea what to do with this trend.

And, of course, there’s conflicting advice online.

I dug into this topic recently after a conversation with a fellow advisor. Let’s call him James. James shared his disappointment with online marketing. He had tried Facebook marketing hoping to reach more prospects. He started a company page and shared a bunch of articles. That didn’t work. He then invested several thousands of dollars in Facebook ads and promoted posts. Still, crickets.

And so, James asked me over a beer, is this social media marketing just a fad? Does it actually generate results for any advisors out there? What are those advisors doing, exactly, to make it work? And, finally, does it have to cost a fortune?

Those are all fair questions. Here’s what I know from pouring over industry research and investing over $100K into building Facebook marketing campaigns for financial advisors.  Read more of this post

What is CyberStalking? [Infographic]

This is a follow-up post to Oversharing: Your Biggest Cybersecurity Risk Could be You [Infographic].  “[W]here does curiosity end and cyber-stalking begin? Psychologist Dr Emma Short has told Newsbeat that people don’t always know when they’re crossing the line,” states Emily Thomas, author of Cyber-stalking: When looking at other people online becomes a problem.

Although the risks of cyber-stalking are often associated with a romantic context, anyone online can draw the attention of someone who is overly interested and fixated. This means that those who must maintain a robust online public presence for professional reasons also benefit from learning:

  • What cyber-stalking is
  • What types of risks and consequences are associated with it
  • Actionable prevention tips.

The following infographic provides exactly that. Enjoy! Read more of this post

Thou Shalt Not Use Email Notifications!

This article was originally published at ModelFA.com.

email notifications, Thou Shalt Not Use Email Notifications!

Here’s a question for you. Between this morning and right now, how many times did your computer or phone chime at you to let you know you just got another email?

Chances are, your number is somewhere around a dozen or more.

Many advisors think that keeping those alerts turned on is no big deal. After all, who would want to miss a critical, time-sensitive message? What if a journalist on a deadline wanted to get a quote from you? Or what if a client had an urgent question about his portfolio?

And so, “new message” alerts continue to ping throughout the day. Some of those emails are informative. Others are fun. Many are a complete waste of time. But here’s what unites them all: they kill your productivity.

Two reasons to stop email notifications from ruining your day

There are at least two reasons why you should turn off your email notifications right now and never look back. Read more of this post

Advisor Self-Limiting Beliefs and 3 Steps to Overcome Them

This article was originally published at ModelFA.com.

advisor self-limiting beliefs, Advisor Self-Limiting Beliefs and 3 Steps to Overcome Them

“Sow a thought, reap an action; sow an action, reap a habit; sow a habit, reap a character; sow a character, reap a destiny.”

― Stephen Covey, The 7 Habits of Highly Effective People

I’ve read recently that Covey adapted this quote from Gandhi. Regardless of who said those words first, the quote holds the key to the kind of outstanding results you admire in high performers.

And I think that it’s the best expression of how mindset, behavior patterns, and results are connected.

The mind’s power extends beyond our immediate consciousness. Think of an iceberg with 90% of its mass submerged beneath the surface of the water; your subconscious mind is just as vast and powerful. And once something (a belief or a habit, for example) is a part of your subconscious mind, it will drive your daily choices without any surface awareness from you.

The continuum looks something like this: Read more of this post

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