Saturday, January 19, 2019

HB tells LA media what’s got advisors juiced (and worried) in 2019


Thanks to our friends at the Long Beach Business Journal for including me in their Economic Forecast 2019 special section. The gist of my comments to business owners, based on findings from our annual Wealth Advisor Confidence Survey conducted in conjunction with The Financial Awareness Foundation, was that “The easy money has been made. Now you need an expert to help you.”

We’re keeping our confidential (5 minute) online survey open for another week. Here’s the link https://www.surveymonkey.com/r/6GNK92J.

Give us 5 minutes of your time and we’ll rush you a 12-page pre-publication copy of the report. See how you stack up to your peers in terms of opportunities, challenges and growth prospects.

Enjoy the weekend. Best, HB


#wealth advisor confidence, #CPA confidence, #2019 market climate #Long Beach Business Journal

Wednesday, January 09, 2019

Advisors remain optimistic about their growth prospects despite multiple headwinds in 2019


Initial findings from our 2019 Wealth Advisor Confidence Surveyindicate that independent wealth advisors remain confident about their growth prospects despite significant headwinds across the economic, political, tax and investment landscape.

Our confidential online survey will be open for another week or so if you’d like to see how you stack up to your peers in terms of growth prospects, service offerings, client communication channels used and factors keeping independent advisors (and their clients) up at night. Give us 5 minutes of your time and we’ll rush you a 12-page pre-publication copy of the report. Here’s a link to the survey https://www.surveymonkey.com/r/6GNK92J.

Here’s a sneak preview of the findings:

As was the case in 2018, nearly half of advisors (48%) expect their firms to grow by double digits in 2019 and five out of six respondents (85.4%) expect to grow at some level in 2019, (up from 82.4% in 2018). The survey, being conducted by The Financial Awareness Foundation in association with HB Publishing & Marketing Company, LLC finds that most advisors (95.9%) expect at least one more stock market correction of greater than 10‐percent in 2019, (up from 82.3% at this time a year ago). Further, three in five respondents (59.5%) say a recession is “somewhat” or “very” likely to occur within the next 12 months. That’s nearly twice as many who feared a recession (32.9%) at this time a year ago.

The survey will be open for another week or so. Please share the survey with a qualified colleague https://www.surveymonkey.com/r/6GNK92J.
Again, it takes just 5 minutes to complete the survey and we’ll be happy to rush your colleague a pre-publication copy of the findings.

Thank you for your cooperation. Best, HB and Val
Hank Berkowitz, MBA, MA,

Principal, HB Publishing & Marketing Company LLC
Valentino Sabuco, CFP®
Executive Director & Publisher, The Financial Awareness Foundation

Thursday, December 13, 2018

Fastest-Growing Advisors Contact Clients More Frequently

New research from The Financial Awareness Foundation’s (TFAF’s) Wealth Advisor Confidence Survey™ confirms that it pays to reach out and touch people. According to TFAF, higher performing advisors are more likely than other advisors to contact clients more than once per month. For example, nearly three in five firms (58%) expecting double-digit growth in 2019 contacted clients 2 or more times per month. By contrast just under half of firms (49%) expecting single digit growth in 2019, contacted clients more than once per month.

Is that too often? Not if what you’re sending is relevant, valuable and professionally produced.
As shown below, firms that contact clients with higher frequency have the ability to produce thoughtful content that requires a little more thought than a simple tweet, post or like:


            Communication Channels Rated “Very” or “Highly” Effective

Contact Clients
1x or less
per month
Contact Clients
2x or more
per month
Variance
Public speaking
65%
83%
+18%
Writing articles for publication
57%
64%
+7%
Writing books/eBooks
50%
56%
+6%
Get quoted in the press
48%
52%
+4%
Blogging
32%
48%
+16%
Publishing articles via LinkedIn
22%
40%
+18%
Sources: The Financial Awareness Foundation; HB Publishing & Marketing Company, LLC, 2018

As shown below, firms that contact clients with higher frequency are also more likely to find value in social media—but not at the same level as more conventional thought leadership tactics cited above.

Social Media Channels Rated “Very” or “Highly” Effective

Contact Clients
1x or less
per month
Contact Clients
2x or more
per month
Variance
Facebook
7%
21%
+14%
Twitter
7%
16%
+9%
Instagram, Snapchat
5%
12%
+7%
Sources: The Financial Awareness Foundation; HB Publishing & Marketing Company, LLC, 2018


The findings are even more striking when looking at the projected financial performance of responding advisors. Firms that expected to finish 2018 with double-digit growth were 1.5 times more likely than less optimistic firms to consider Public Speaking, Publishing Articles and Media Coverage “very” or “extremely” useful (see chart).

TFAF’s
annual survey of financial advisor concerns and challenges, conducted in association with HB Publishing & Marketing Company, LLC. asked respondents to rate nearly two-dozen thought leadership tactics. Those in the table above were the ones most frequently cited by advisors as being “very” or “extremely” valuable.

Conclusion

We may live in an instant gratification society, but when it comes to resonating with clients, prospects and influencers, research shows you’ll have to hit the neural gym and do some mental heavy lifting. There are no shortcuts, but it doesn’t have to be drudgery. We’re happy to
talk to you any time if you’d like some suggested workouts for maximizing your thought leadership gains when you have limited time. You might even find those exercises fun.

There’s much more to this survey.  Check out some of the other highlights here.

#Content marketing, #thought leadership, #wealth advisors, #The Financial Awareness Foundation, #Wealth Advisor Confidence Survey

Monday, November 26, 2018

Fastest Growing Advisors Bullish on Thought Leadership


As discussed in my last post, social media is fine for advisors. But, research from The Financial Awareness Foundation’s (TFAF’s) Wealth Advisor Confidence Survey™ confirms that financial advisors find significantly more value in thought leadership tactics that showcase their ability to speak, present, write and charm the press.

The findings are even more striking when looking at the projected financial performance of responding advisors. Firms that expected to finish 2018 with double-digit growth were 1.5 times more likely than less optimistic firms to consider Public Speaking, Publishing Articles and Media Coverage “very” or “extremely” useful (see chart above). 

Unlike firms expecting modest or flat growth in 2018, firms projecting double-digit growth this year were also more likely to find high value in blogging, authoring books and e-books, publishing on LinkedIn, holding client events and producing videos.

TFAF’s
annual survey of financial advisor concerns and challenges, conducted in association with HB Publishing & Marketing Company, LLC. asked respondents to rate nearly two-dozen thought leadership tactics. Those in the table above were the ones most frequently cited by advisors as being “very” or “extremely” valuable. In my next post we’ll see how webinars, Facebook, Tweeting, Instagram and other social channels fared—particularly among advisors who were expecting double digit growth in 2018.

Conclusion

We may live in an instant gratification society, but when it comes to resonating with clients, prospects and influencers, research shows you’ll have to hit the neural gym and do some mental heavy lifting. There are no shortcuts, but it doesn’t have to be drudgery. We’re happy to
talk to you any time if you’d like some suggested workouts for maximizing your thought leadership gains when you have limited time. You might even find those exercises fun.

There’s much more to this survey.  Check out some of the other highlights here.

Tuesday, November 13, 2018

Advisors: 10 Signs Your Website Could Use a Remodel


Now’s the time of year when many of you are setting your budgets, goals and dreams for 2019 and beyond. Before that second cup of coffee is finished, the bean counters at your firm will undoubtedly start honing in on that slippery, murky line item called “Marketing.”

You know you need a better website and social media presence, but many analytical numbers people have trouble connecting the dots between a better online persona and new assets to manage.

GET OVER IT!

First, how many potential clients are running for the hills when they find broken links, three-year old content and a site that comes unglued whenever you access it on a mobile phone or tablet? How many prospects who been referred to you are saying to themselves: “If that how they handle their website, what will happen to my hard earned wealth when they get their hands on it?” How many of your clients’ adult children or grandchildren are having their doubts about you as they become POAs and HENRYs (High Earners Not Rich Yet)? How many journalists, speaker bureaus and strategic partners are thinking the same thing after they decide to check you out for an opportunity?

Ouch!

Just like an estate plan, maintaining a professional website is an ongoing activity, not a one-and-done exercise. But, that doesn’t mean you have to do a complete teardown and start from scratch.
My colleague Patricia Creedon shared 10 signs that your website might be in need of a remodel. If more than two or three of her pet peeves sound like your site, it might be time for a checkup. Some of the most common digital potholes Pat sees on advisor sites include:
·        Poor resolution.
·        Weak security.
·        Faulty graphics.
·        Lack of printable resources.
·        Forcing visitors to do too much scrolling.

“It’s not that any of these make a website bad any more than some DIY wiring in your dream home makes the whole house a wreck,” writes Creedon.
But they are areas of concern that if let go, could become real problems because they could discourage potential clients.” 
Here are five more of Pat’s Pet Peeves when it comes to advisor websites.

Conclusion

In today’s digital age, prospective clients are doing as most of their due diligence about you online well before they commit to an initial discovery meeting. It doesn’t matter how strong the word-of-mouth referral is. If your website, LinkedIn profile and other pillars of your online presence are not up to speed, then that prospect is going to swipe left right past your door.

Next!

Our Resources section has more tips and helpful hints. Contact us today for a complimentary review.

#website fails  #website improvement #financial advisor marketing

TAGS: Patricia Creedon, website pet peeves

Monday, October 29, 2018

Before Your Clients Write that Tuition Check……


Now is the time of year that many clients are turning to you for advice about financing the jaw-dropping price of college tuition. Study after study confirms that a college education—one of the biggest legal rackets in America today--is still worth the price of admission and stress. But, several of our clients have been telling Forbes, US News and other national media outlets that wherever your child or grandchild attends, it’s important to get a well-rounded education, not just the prerequisites for a high-paying career.

Bottom line: Take courses that actually make you think, write communicate and create. That’s the only way to be adaptable in a constantly changing world.

Mark Rioboli, CFP, CFS  Director of Wealth Management at Independence Advisors  (Wayne, PA) said universities should take a page from Ben Franklin's book and focus on those things that make students “healthy, wealthy, and wise.” College curriculum should consist of nutrition and fitness training “because without health, you have nothing.” Rioboli also told me critical thinking, project management and sales skills are valuable in any career one chooses.  

Anthony Glomski, founder of Los Angeles-based AG Asset Advisory and author of the new book Liquidity and You: A Personal Guide for Tech and Business Entrepreneurs Approaching an Exit agreed. “When speaking with (and recruiting) young graduates, I’ve found their basic skills are not as far along as I’d like to see, especially reading, writing, organization, and attention to detail. Any degree that emphasizes those skills will add a lot of value in the job market. In a world in which everything is driven by artificial intelligence, the one thing we know that is irreplaceable is the human connection. Degrees that help student develop traits that strengthen human connections are going to be value in their careers,” added Glomski.

Blake Christian, CPA Partner at HCVT in Long Beach, CA said a student’s focus for the first two years should be on “a solid foundation that will help him or her regardless of major--basic finance, accounting and budgeting, for example. Who doesn’t benefit from those skills both personally and professionally?” asked Christian. He is also a strong advocate of business and technical writing, along with verbal communication. “When it comes to writing a business plan, even liberal and creative artists will have a more solid financial footing with a class or two in these subjects,” maintained Christian, author of the new book, Benefits of Becoming A CPA-Preneur.

Glomski, an undergrad accounting major, said he benefitted greatly from the liberal arts courses he took. For instance, “philosophy went really deep, which helped me in developing personal relations. Economics and other social sciences will always be applicable and accounting was invaluable. Sure, accounting is becoming increasingly automated, but it’s priceless training learning how to understand the mechanics and backbone of any business,” Glomski related.

Before junior year, Christian strongly recommends that students do an internship in their chosen field, along with an aptitude tests and counseling to ensure that the student “really wants to go down that path and has the general skills and drive.” 

“How do you teach wisdom?” asked Rioboli. “I suggest starting with meditation and all the principles in emotional intelligence 2.0 by Travis Bradberry, Travis and Jean Greaves.”

Also consider Top 10 Life Advice Comments for Millennials by our client, Matt Topley, chief investment officer of Fortis Wealth in Valley Forge, PA.

Conclusion

Glomski said adaptability is the key ingredient for career success today. “It’s likely you’ll get of out college and be in a career for five to seven years, and then you’ll be in a completely different career. What prepares you for that?”

#college tuition #careeradvice #liberal arts #tuition ROI 

Anthony Glomski, AG Asset Advisory, Blake Christian, HCVT, Mark Rioboli, Independence Advisors, Matt Topley, Fortis Wealth




Sunday, October 21, 2018

HB Clients Featured in National Media


It was another good week for those of you taking advantage of our Just in Time media relations services. Here are some highlights.

ANTHONY GLOMSKI, founder of AG Asset Advisory, was the featured guest on the Angel Investor Podcast with Jeff Barnes.
Author of the new book, Liquidity and You: A Personal Guide for Tech and Business Entrepreneurs Approaching an Exit, Anthony discussed the importance of surrounding yourself with the right people to build your business on secure footing to produce a successful exit. Again, you can check out the episode here.

BLAKE CHRISTIAN, CPA, told US News & World Report that proper diversification not only applies to asset classes, but to working with more than one financial advisor if you have over $1 million in investable assets (see Should Investors Diversify Providers?)  "Each advisor has different style, expertise and biases," explained Christian, a partner at Holthouse Carlin & Van Trigt, in Long Beach, California. Christian is the author of a new book we’re finalizing called Benefits of Becoming A CPA-Preneur.

KYLE WALTERS, a wealth advisor at L&H CPAs and Advisors in Dallas, TX, had another guest column published in Accounting Today entitled Red Teaming: Creating your perfect competitor makes you a better, more focused firm. Author of the new book, The Personal CFO, Walters said red teaming requires you to build of model of your perfect enemy/competitor before someone else does it for real.

Great work gentlemen. As our annual Wealth Advisor Confidence Survey™ revealed, more than half of advisors expecting double-digit growth this year (54%), say press mentions are a “very” or “extremely important” component of their personal branding initiatives. That’s significantly higher than advisors who are expecting single-digit or flat growth over the next 12 months.

Where would you rather be?


TAGS: Anthony Glomski, AG Asset Advisory, Blake Christian, HCVT, Kyle Walters, L&H CPAs, Accounting Today, Angel Investors Network Podcast, Jeff Barnes