Weekend Reading for Financial Planners (Nov 16-17)



Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with the industry announcement that independent broker-dealer network Advisor Group is acquiring fellow IBD network Ladenburg Thalmann, which will create the 2nd largest independent broker-dealer (behind only LPL), with more than 11,500 advisors overseeing $450B in assets across 9 broker-dealer subsidiaries.
From there, we have several practice management articles this week, including a look at the ever-growing breadth of CFP programs for undergraduates (providing students more choices for their CFP education, but arguably making it harder for advisory firms that are hiring to figure out which are the ‘best’ programs with the best-prepared students), the emerging trend of large advisory firms hiring CTOs (Chief Technology Officers), the new business role of a “Chief Of Staff” that can be used to leverage the efficiency of a founder/CEO (and/or to groom talent for future leadership positions), and an idea on how to better unleash the creativity of your own employees.
We also have several marketing-related articles, from exploring the ‘right’ way to diversify your marketing (not by diversifying the types of clients you’re trying to reach, but instead by diversifying the marketing channels you use to reach a narrower set of target clientele), to tips on figuring out if your niche just isn’t working for you yet or if you’ve picked the wrong niche altogether, the benefits (or not) of hiring a publicist to help an advisory firm with PR (depending on the natural proclivities of the owner towards social media and blogging), and how to build your confidence in your own blogging writing or video abilities to get over the “Imposter Syndrome” of thinking you don’t have enough expertise to be valuable (when in fact you do!).
We wrap up with three interesting articles, all around the theme of managing our time: the first looks at how the decade of the 2010s has become the decade we ‘lost’ control of our time (with the rise of the smartphone and becoming ever-reachable by anyone, anywhere); the second delves into why we seem to have such trouble protecting our time in the modern era; and the last provides some valuable tips on how to get better control of your time by saying “No” more often, and how to change your mindset to get more comfortable with saying “no” more often in the first place!
Enjoy the ‘light’ reading!
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