Claire Akin's Blog, page 22

What Makes Us Different From FMG Suite? (Video)

FMG Suite is arguably the largest financial advisor marketing platform out there. It’s no surprise that when people find Indigo Marketing Agency, their first question is: What makes us different from FMG Suite? 

Believe it or not, I used to work at FMG Suite before I started Indigo Marketing Agency. And while there is a little bit of overlap between our services, we couldn’t be more different. 

At Indigo Marketing Agency, we offer 100% done-for-you marketing. We update your website and social media profiles for you. We create custom content each month that speaks directly to your ideal clients. We upload that content to your website, push it out on your social media channels, and blast it to your email lists. 

If you need to update your website, we do that for you. If you need to submit something to compliance, we do that too. We even assign you a dedicated human being Account Manager who works with you to tell your story and answer your questions.

With a larger platform like FMG Suite, you don’t get so much personalization. Don’t get me wrong, over 50% of our clients use FMG Suite. It’s responsive. It’s mobile-friendly. It definitely serves a purpose. 

But what we do adds on to their platform to truly make you stand out! If you’re looking for something more, watch this short video now to find out: 

Why I started Indigo Marketing AgencyThe pros and cons of FMG SuiteWhat makes us different

Want to scratch marketing off your to-do list for good? Schedule a free strategy session with our team here. Together, we’ll talk through your goals and put a plan in place that helps you duplicate more of your A+ clients. 

Wondering how we compare to other popular digital marketing firms for financial advisors? Click here to see we stack up against FMG Suite, SnappyKraken, TwentyOverTen, and Advisor Stream. 

Looking for more ways to improve your marketing as a financial advisor? Find more information on our blog. Or learn more about how we help financial advisors just like you grow their businesses with our Total Marketing Package. 

For weekly marketing tips for financial advisors by video, subscribe to our YouTube channel here.

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Best Books For Financial Advisors

12 Best Books for Financial Advisors [Ebook on Digital Marketing Services] Explore The 12 Best Books for Financial Advisors

I’ve read hundreds of books for financial advisors over the years. Some of them were okay and others completely revolutionized the way I do business. 

As a financial advisor, I know you’re busy. You don’t have time to waste on “yet another book” that promises results but doesn’t deliver. To help you out, I’ve gathered a list of the top books for financial advisors in 2021. 

I’ve assigned each one a “best for” category, so you can quickly spot the best books for streamlining your practice, sharpening your marketing message, and more. 

Look through the list below and let me know which one you plan on reading first!

Top Books for Financial Advisors in 2021 1. The Sustainable Edge by Ron Carson & Scott Ford

Best book for financial advisors looking for work-life balance

The Sustainable Edge: 15 Minutes a Week to a Richer Entrepreneurial Life is one of my personal favorites. It helps advisors focus on their most important work each week, so they can create a life that gives them true fulfillment. The book is divided up into nine chapters—each of which ends with worksheets and templates to help you improve productivity.

It’s hands down one of the best books for new financial advisors or seasoned professionals who are looking to maximize productivity.

Ron Carson and Scott Ford, the authors, are household names in the financial industry. Ron is the founder and CEO of Carson Wealth, which has $15 billion in assets under advisement. Scott is the CEO of Cornerstone Wealth Management Group and ranks in the top 1% of all LPL financial advisors.

Ron Carson recently joined me as a guest on my podcast, The Marketing Podcast for Financial Advisors. We did a deep dive into financial advisor succession planning and what you need to know about selling your firm. If you’re looking to sell your practice soon, this podcast is a must-listen.

2. Getting Things Done by David Allen

Best book for financial advisors who have too much to do and too little time

It’s nearly impossible to have a clear head when there are a million things on your to-do list and you feel pulled in every direction. Getting Things Done: The Art of Stress-Free Productivity is all about giving you the tips, tools, and tricks you need to be your most productive self. After all, many financial advisors aren’t as successful as they wish because they struggle with time management. This book changes that.

Getting Things Done is written by David Allen, one of the world’s leading experts on organization and productivity. He’s spent the past 30+ years working as a management consultant and executive coach to large companies such as New York Life, the World Bank, and the U.S. Navy.

3. Radical Relevance by Bill Cates

Best book for financial advisors who want to sharpen their marketing message

Radical Relevance is an amazing new book that helps advisors articulate what they do best and whom they serve. In today’s digital world, prospects and clients are overloaded with noisy marketing messages. This book helps you pinpoint your value proposition and stand out from the crowd. 

It’s one of the best books for new financial advisors who don’t want to waste years figuring out who their A+ clients should be. You’ll get it right the first time. 

Bill Cates has helped over 20,000 financial advisors get quality clients. He’s a Hall of Fame keynote speaker and one of my industry mentors.

Wondering how to choose the best niche for your firm? Bill and I co-host a workshop webinar on how to choose a specialty and create a radically relevant marketing message.

4. The Million Dollar Financial Advisor by David J. Mullen, Jr.

Best book for financial advisors who want to be top producers in the industry

Ever wonder how the top financial advisors became so successful? The Million Dollar Financial Advisor interviews 15 mega-successful advisors who generate at least $3 million in business annually. The author, David J. Mullen, Jr., condensed their stories down into 13 step-by-step lessons that teach you how to build a winning practice—whether you’re a new or experienced financial advisor.

If you’re looking to strengthen existing client relationships, build a strong referral network, and learn how to be successful regardless of market conditions, then this book is for you.

5. The Marketing Guide for Financial Advisors by Claire Akin

Best book for financial advisors who want to win new clients in today’s digital world

I meet with advisors every day who are frustrated by the fact that old marketing techniques don’t work anymore. To make matters worse, many of these advisors have been burned by expensive marketing schemes that don’t produce results.

In my latest book, The Marketing Guide for Financial Advisors, I demystify marketing for financial advisors and give concrete steps on how to hone your niche, generate leads online, stay engaged with clients, improve your social media presence, and more. I also break down each major digital marketing channel and give tips on how to use each one to grow your AUM.

It’s one of the top books for financial advisors who are sick of wasting money on marketing and are ready to find out what really works today. You can read it as an ebook on digital marketing services, or you can buy a paper copy through Amazon.

6. Storyselling for Financial Advisors by Scott West & Mitch Anthony

Best book for financial advisors who want to connect with prospects through storytelling

The financial services industry gets a bad rap for being dull and boring. Storyselling for Financial Advisors teaches you how to connect with your prospects through stories instead of spewing out a long list of facts, statistics, and numbers.

Financial advisors can leverage the techniques in this book to calm their clients’ fears, eliminate their doubts, and improve their lives. Plus, it features concrete examples of how to alter your message to fit your target audience, so you can effectively communicate with women, the affluent, and those over 50.

7. Ineffective Habits of Financial Advisors by Steve Moore & Gary Brooks

Best book for financial advisors who want to streamline their practice

In Ineffective Habits of Financial Advisors, the authors break down seven seemingly harmless habits that prevent financial advisors from building successful, satisfying businesses. Each chapter starts out with one ineffective habit you may possess as a financial advisor. Then, it provides step-by-step strategies, templates, and checklists to help you break that bad habit and replace it with a winning one.

8. The Art of Selling to the Affluent by Matt Oechsli

Best book for financial advisors who want to attract and retain wealthy clients

If you’ve ever wanted to crawl into the minds of your affluent clients to figure out what makes them tick, then this book is for you. The author, Matt Oechsli, includes a breadth of statistical data that reveals how affluent people think, feel, and react to challenges they face on a day-to-day basis. The author then uses this data to show you how to tighten up your marketing message so you can attract, service, and retain affluent clients for decades to come.

9. The Go-Giver by Bob Burg & John David Mann

Best book for financial advisors who want to give back

Many business owners think that they need to be successful before they can give back. The Go-Giver turns that logic on its head. Instead of giving after you’ve achieved success, this book challenges the idea that being a giving person is what leads to success in the first place.

Unlike other suggestions on my list, this one is a bestselling fiction novel. It follows the story of a character named Joe who learns that giving is the secret to living a rich, full, and fulfilling life. If you’re looking to find more meaning in your business or personal life, I highly recommend this book.

10. The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber

Best book for financial advisors who want to increase revenue

Most of the advisors I work with know financial planning through and through, but they haven’t built their businesses in a way that is scalable or delivers the same quality of service to each client. The result is that they’re burned-out and unable to grow past a certain revenue. This book explains how to overcome that.

The E-Myth Revisited has sold over 1 million copies since publication and is ranked #3 on Amazon’s Best Seller list for small businesses.

11. The LinkedIn Guide for Financial Advisors: Six Steps to Identify Qualified Prospects and Generate Referrals by Claire Akin

Best book for financial advisors who want to generate referrals through LinkedIn 

The LinkedIn Guide for Financial Advisors is another great ebook on digital marketing services, specifically LinkedIn and how to use it as a tool to generate referrals. 

The book is filled with relevant examples and success stories from independent financial advisors who use LinkedIn to find qualified prospects. In the book, I show you how to: 

Optimize your LinkedIn profileExpand your networkSearch for and identify qualified prospectsUse content marketing on LinkedIn to attract new leadsAsk for an introduction from someone who knows and trusts you (without seeming desperate or scammy)

This is one of the top books for financial advisors who are looking to up their LinkedIn game and use it as a tool to duplicate more of your favorite clients.

12. So You Want To Be A Financial Planner by Nancy Langdon Jones

Best book for new financial advisors

So You Want To Be A Financial Planner is one of the best books on becoming a financial advisor. It’s written by Nancy Langdon Jones, a Certified Financial Planner. Bob Veres and Michael Kitces write forwards for the book, so you know it’s a good one.

In the book, Nancy goes over the building blocks to a financial planning career. She also gets into specific topics like how to set up shop and deal with dreaded regulatory stuff. If you’re looking for any financial planning books for beginners, this is your ticket!

That’s A Wrap-Up On The Best Books For Financial Advisors!

Are you looking to hone your skills as a financial planner, RIA, or independent advisor? I hope you read some of these 10 top books for financial advisors. If you do, please let me know what you think.

Are there any other books for financial advisors you think should be added to the list? I’m always looking for a new book to read, so drop them in the comments below.

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Why You Should Publish Your Advisory Fees on Your Website (Video)

Today I want to talk to you about a subject I’m passionate about — putting your pricing and services front and center on your website. 

There are so many advisors who are hesitant to do this (and most don’t have their fees listed on their sites at all.) 

Watch this short video to learn three reasons why you should list your fees and services on your website. 

We’ll talk about how clearly listing your fees:

Saves you timeWeeds out unqualified prospectsHelps website visitors immediately see the value you offerAnd more 

 

Need help adding your services and pricing to your website? Schedule a free marketing strategy session with us to learn how we can take this task off your plate. We’ll also go through our recommendations on how you can improve your marketing.

Want even more tips on how to enhance your website and attract more visitors? We have tons of free videos and articles on the topic:  

Watch my 5 free webinars on website marketing for financial advisorsRead Six Steps to Quickly and Easily Overhaul Your WebsiteRead How to Add a Calendly Floating Button to Your Website (So Prospects Can Schedule a Call From Any Page on Your Site!)Watch my latest webinar on How to Grow Your Business by 25% This Year

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How Often Should You Email Your Network?

Many financial advisors who are just getting started with their digital marketing often ask, “How often should I email my network?” Like most things in life, there’s no definitive answer.  

A recent Morningstar study shows that 36.6% of clients prefer monthly emails, while 30% prefer weekly emails. (1)

I personally recommend emailing your list at least once per month, but no more than once per week. (At Indigo Marketing Agency, we typically send out emails once per month for financial advisors. It seems to be the sweet spot.)

The Consequences Of Emailing Too Much

Want to know the #1 reason people unsubscribe from email lists? They receive too many emails. (2) The second most popular reason? The content isn’t relevant to them. 

Oversharing makes your marketing less effective by lowering your open and click-through rates and increasing your unsubscribe rate.

Email is the most powerful marketing strategy you can use. (Yes! Even more powerful than social media and advertisements.) But when used incorrectly, it can be a huge disaster—and can quickly destroy a list you’ve spent years building and nurturing. 

How To Boost Your Email Marketing Metrics In 5 Steps

If you’re like most advisors, you probably want to know which benchmarks you should be shooting for with your email marketing. 

The average email open rate for the financial services industry is 24.80%. (3)The average click-through rate is 2.7%. The average unsubscribe rate is 0.20%.

If your metrics are way off base, following these steps will help give them a boost. 

Step 1: Segment Your Email Lists

You’d be surprised at how many advisors have all of their subscribers lumped into one email list. This makes it extremely difficult to create a marketing message that truly resonates with them. 

Think about it. 

If you bought a Toyota Tacoma from a car dealership and they constantly sent you emails about car accessories and maintenance for a Prius, you’d probably get mad and unsubscribe.  

The same is true for your email list. For most advisors, splitting your list between prospects and clients is enough to create a more tailored marketing message. 

But depending on your specialty and the size of your list, it may be beneficial to sub-segment even further based on your clients’ occupation or life cycle (e.g., early-career, married with kids, pre-retirement).

A study by OptinMonster confirms that segmented campaigns see higher open rates and click-through rates, and lower unsubscribe rates than unsegmented ones. 

Source: optinmonster.com   

Step 2: Define Your Email Marketing Objective

An email marketing objective explains why you’re sending out emails. You’ll typically have a different marketing objective for each of your segmented lists, but there will also be some overlap. 

For example, the main objective for all your email lists is to keep you top of mind and position you as a go-to expert in your niche. But past that, your marketing objective will vary depending on your audience. 

For prospects, your main marketing objective is to nurture new leads and convert them into clients. Because of this, you may send emails that encourage them to take the next step, such as:

What I Do & How I HelpSee A Sample Financial PlanGet Started Now: Schedule An Appointment OnlineHow Does An Independent Financial Advisor Benefit You?

On the other hand, current clients already know how you help and why they should be working with you (they’re already clients!). Instead, you can send them emails like: 

A Personal Note During The Coronavirus PandemicWe’re Never Too Busy To Help Someone You Care AboutHappy Thanksgiving: Here’s What We’re Grateful For 

Of course, there are going to be emails that benefit everyone on your email list—regardless of whether they’re a client or prospect. For example, if you’re a financial advisor who specializes in serving veterans, you could send everyone emails on topics like: 

Financial Pitfalls Veterans Should AvoidShould You Enroll In The Survivor Benefit Plan?The Best Life Insurance Solutions For Veterans

The key is to be mindful of your target audience. Before you send out an email, ask yourself if they’ll find it relevant. If the answer is no, it’s probably not worth sending. 

Step 3: Send High-Value Content

A lot of advisors send emails for the sake of sending emails. 

They blast out market commentaries every week (which I highly recommend NOT doing). They spend hours creating complex monthly newsletters that no one will ever read. They send the same old emails to everyone on their list regardless of whether it’s relevant or not. 

Following these outdated tactics is the quickest way to get unsubscribes—or worse, have people report you as spam.

Creating the perfect marketing email is insanely easy. It doesn’t require any fancy bells or whistles. It doesn’t need to take up a ton of time. It doesn’t need to include a bunch of different topics. One clean, simple, highly relevant email per month is all you need. 

Step 4: Be Consistent

Above all else, be consistent with your email marketing. Consistency is the key to establishing trust online. If you need help sticking to a schedule, create a marketing calendar to help hold you accountable. (Here’s a sample marketing calendar for financial advisors.) 

If you know your plate is way too full to DIY it, consider outsourcing your marketing to a firm that specializes in custom content creation for financial advisors (such as Indigo Marketing Agency). 

Step 5: Always Be On The Hunt For New Leads 

I’ve got some bad news for you…if you’re not consistently growing your email list, then it’s probably shrinking due to unsubscribes. 

Each week you should be looking for ways to grow your email list as a financial advisor. Some common ways to do this: 

Ask for referrals. (Here’s a neat trick my dad used to add $2 million to his AUM in one month.) Add a lead-generating webinar to your website that runs 24/7.Add a call to action to the bottom of your website and blog posts that encourages readers to sign up for more helpful content.

Whatever you do, don’t buy any email lists. This used to be common practice in the early internet days, but now it’s a surefire way to get reported as spam. (Trust me, my email address has landed on several lists I didn’t opt into and I immediately report them.)

If you’re not sure how to add new leads to Mailchimp or Constant Contact, check out this article here. 

How To Know If Your Emails Are Working

The best way to know if your email marketing is working is to look at the data—specifically your open rates, click-through rates, and conversions. 

If you’re a current client of ours, we email you these metrics each month. If you’re doing your own email marketing, you can find these metrics in your email marketing system (e.g., Mailchimp or Constant Contact).

Remember, a good open rate is around 24.80%. A good click-through rate is around 2.7%. And a good unsubscribe rate is around 0.20%. 

If your numbers are way different than this, it could be an indicator that you’re sending too many emails or your content isn’t relevant. Some solutions may be to:

Segment out your email list. (so you can tailor marketing messages specifically to prospects and current clients)Adjust your email frequency. (Remember, the goal is one to four emails per month, with one per month being the sweet spot.)Change the structure and content of your emails. (I recommend sending one highly relevant topic per email. No need to share three to five articles at once.)Need Help With Your Email Marketing?

At Indigo Marketing Agency, we specialize in creating custom content for independent financial advisors. Our Total Marketing Package is our most popular service for financial advisors. It includes:

Setting up your email marketing system Creating your custom email designSending one highly relevant email to your audience each monthWriting one custom article each monthSetting up and optimizing your social media profiles Posting to social media three times a weekAnd more!

Schedule a free call with our team to learn more about our Total Marketing Package and how we can help you grow your business by 25% this year.

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(1) https://www.theadvisorcoach.com/19-fi....
(2) https://blog.hubspot.com/marketing/wh...
(3) https://www.campaignmonitor.com/resou...

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I Was A Guest Host On ProudMouth’s Top Advisor Marketing Podcast!

I was recently invited to be a guest host on ProudMouth’s Top Advisor Marketing Podcast. We spent time talking about: 

Underused marketing tactics that are absolute gold for advisorsLeading and lagging indicators of marketing successTwo marketing tactics that give you the most bang for your buckThe one page that’s guaranteed to get the most traffic on your websiteHow to grow your email list without adding pop-ups to your siteAnd more!

Tune in to the podcast here as we unpack some of these underused marketing tactics and discuss how you can use them to attract and convert more of your ideal prospects — without adding more work to your plate.  

The podcast is hosted by Matt Halloran who co-founded ProudMouth — a company that helps advisors and other small business owners leverage podcasts to accelerate their influence and make their voices known.

The marketing tactics Matt and I talk about are absolute gold. Give it a listen and let me know what you think. If you’re a financial advisor, I know you’ll glean a lot of useful information from it. (Matt is also quite entertaining, which makes for a quick 30-minute listen.)

We also talk about Indigo Marketing Agency’s Sample Marketing Calendar and Marketing Strategy Checklist for financial advisors. Be sure to bookmark these links so you can use them when implementing these tactics.   

One more thing before I go — 

Matt and I both strongly believe that having a clear marketing plan is crucial to every advisor’s long-term success. Just as you encourage your clients to have a customized financial plan to reach their goals, you also need a customized marketing plan to grow your business and attract more of your ideal clients. There’s no way around it.If you’d like help creating a marketing plan for your firm, we’d love to chat with you. Schedule your free strategy session here and we’ll talk about what’s working with your marketing and what’s not — and offer actionable advice on how you can convert more of your ideal clients.

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Who Are You Called to Serve? (Video)

Who are you called to serve? The answer to this question should be at the very heart of your marketing message. 

When I went to business school and studied marketing, the biggest takeaway I learned was that those who are intimately aware of their clients’ needs are the ones who become the best marketers and reach the most people.

I expand on this concept even more in the short video below. Watch it now to learn: 

How to figure out who you’re called to serveUpdates to the SEC’s testimonial ruleHow you can (finally!) use testimonials to reach your ideal audience

A huge part of what we do for advisors is getting testimonials for them. If you want to learn more about our testimonial service, click here to get in touch.

For even more tips on how to reach your ideal clients, check out my new webinar on The Truth About Marketing For Financial Advisors. I cover everything I’ve learned over the past 8+ years on how independent financial advisors really get new clients today.

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Why You Should NOT Send Weekly Market Commentaries (Video)

There are tons of advisors out there who still send their clients market commentaries each week like clockwork. (I know because I’m on several of these email lists and see the same commentaries sent out dozens of times.)

Today, I want to challenge the assumption that market commentaries are a good use of your time. 

Watch the 3-minute video as I talk about: 

Why market commentaries confuse your clients and do more harm than goodWhy you should take the “quality over quantity” approach and focus on sending one high-value email a month instead of four generic market commentaries

At Indigo Marketing Agency, we specialize in creating custom content for independent financial advisors that speaks directly to their clients’ needs and positions them as a go-to expert in their field. 

If you need help with your marketing, schedule a free strategy session with us. Together, we’ll go over what’s working in your marketing and what’s not. You’ll walk away with actionable ways you can grow your business by at least 25% this year. 

If you need help choosing a specialty, watch my free webinar, Radical Relevance. It walks you through how to identify who you serve best and create a radically relevant marketing message that resonates with them.

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How Do You Compare To The Average Financial Advisor? (Video)

Do you ever wonder how your business compares to other advisors? 

Watch this short video to find out: 

How much AUM the average advisor managesHow many clients they have on averageHow many advisors are in the USThe average age of financial advisorsHow much money financial advisors make on averageHow much the average advisor charges in fees 

Financial services is getting more competitive as baby boomers age out of the industry and are replaced by younger, more tech-savvy advisors. If your business isn’t growing as expected, partnering with a marketing firm that can help you compete with younger advisors is key to capturing more AUM and growing your business.

Schedule a free marketing strategy session with our team and we’ll go over actionable ways to improve your marketing today. 

Check out my latest webinar to learn how to grow your business by 25% in 2021. 

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What Are the Leading and Lagging Indicators of Marketing Success? (Video)

Indicators of marketing success vary among industries. Marketing for financial advisors is a long-term game. It generally takes one year from the time someone learns about you for them to officially move over their accounts.

Still, there are certain indicators you can look for to know whether or not your marketing is working.

Watch this 3-minute video to learn about:

The leading and lagging indicators of marketing successKey data points to look at to know if your marketing is workingResults you should expect to see within 6 to 12 months of starting your marketing

Have questions about your marketing? Schedule a free marketing strategy session and we’ll go over what you’ve been doing so far and how we may be able to help.

Want to cross marketing off your plate this year? We’ll help you grow your business by at least 25% with our Total Marketing Package—our most popular service for independent financial advisors!

If you’d like to learn more about which marketing metrics financial advisors should track, watch this short video here.

For weekly marketing tips for financial advisors by video, subscribe to our YouTube channel here.

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What Are The Leading and Lagging Indicators of Marketing Success? (Video)

Marketing for financial advisors is a long-term game. It generally takes one year from the time someone learns about you for them to officially move over their accounts. 

Still, there are certain indicators you can look for to know whether or not your marketing is working.  

Watch this 3-minute video to learn about: 

The leading and lagging indicators of success for marketingKey data points to look at to know if your marketing is workingResults you should expect to see within 6 to 12 months of starting your marketing

Have questions about your marketing? Schedule a free marketing strategy session and we’ll go over what you’ve been doing so far and how we may be able to help.

Want to cross marketing off your plate this year? We’ll help you grow your business by at least 25% with our Total Marketing Package — our most popular service for independent financial advisors!

If you’d like to learn more about which marketing metrics financial advisors should track, watch this short video here.

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