Top 5 pieces of advice for new financial planners

Top 5 pieces of advice for new financial planners

If you’re here visiting my blog, chances are you’re thinking about making the jump to becoming a financial planner or financial advisor. Or, maybe you’ve already made the leap, and you want to make sure you have the best possible information to help you get started.

Financial planning is one of the most rewarding occupations both financially and personally, as you’re able to make a decent income, while helping others to save money for their financial future. It’s a win-win job, and for those who can make it past the first year, being a financial planner can be seriously rewarding.

So, to succeed in the financial planning sphere and to achieve the salary you deserve, here are the 4 best pieces of advice to help you reap the many rewards that financial planning has to offer.

#1 New Financial Planners: Stay at the front of prospects’ minds

When people to think of financial planning, you want them to think of you. The financial planning industry isn’t over saturated yet with hordes of planners, (especially those on the younger side, women planners, and people of color) so this shouldn’t be difficult as long as you put in the work.

A few ways that you can do this – of course – is to send emails, regularly (this should be a part of your Financial Advisor Business Plan). At the same time, you don’t want to spam your prospective clients, so ensure that the emails you send contain something of value to them. The way you can do this is to utilize an automated system like FMG. I really love their email marketing options!

A different, more active approach, which may result in some immediate leads for your business, is by giving presentations to employees at local corporations and businesses. When I was first starting out as a Coach, I did a lot of presentations! These presentations should be chock-full of useful, valuable information that will help professionals take care of their finances better.

And, while these presentations shouldn’t solicit, make sure that your name, business and brand is associated with the valuable advice they’ve been given, ensuring that when your audience thinks of financial planning in the future, they think of you.

#2 New Financial Planners: Get involved with the financial planning community

As I touched on before, the financial planning community isn’t over saturated (yet). So, many seasoned financial planners will be happy to give you advice, since you’re unlikely to be competing with them, and they may even steer you in the direction of potential clients or offer a partnership of some type.

To network and to make these valuable working connections, you can ask to meet up, video conference, or call with more established financial planners, whose career trajectory you hope to emulate. Moreover, to connect with financial planners locally, you can scour LinkedIn, or browse through Facebook groups, to get you in the know.

#3 New Financial Planners: Develop relationships with your clients

Many people find finances difficult to talk about. This is even more true when people undergo a significant life change – such as a family death, a divorce, or a move – when their emotional and financial well-being isn’t at its most stable.

Taking this into account, you want to be the kind of financial planner that people feel like they can turn to, even in times of stress. You want to be a reliever of the stress – an extra hand to lessen the burden – rather than another weight on their shoulders. So, remember your human side, and seek to connect with your clients in a way that’s more than just business.

Developing meaningful, lasting relationships with your clients is vitally important, as retaining clients is even more important than on-boarding new ones, since not only do they provide you recurring income from AUM, they act as a reference for their acquaintances: your potential future clients.

#4 New Financial Planners: Look out for rising stars

As a new financial planner, one of the greatest obstacles you’ll have to contend with is on-boarding enough clients to actually make a living.

With this in mind, you can’t just rely on referrals and the acquaintances you’ve already made, since at this point you probably won’t have many. So, you need to be pro-active, and search for people who might be in need of your help.

Whether you’re trawling the internet or reading the newspaper, your eyes should always be open for potential clients. Think: breakthrough scientists who have stumbled upon a valuable discovery; young CEOs who have just experienced their first tech start-up success; a debut author whose book has skyrocketed to the top of the NY times bestseller list.

In short, anyone who may suddenly have more money than they’re used to. These are the people who can benefit most from the services of a financial planner – and you want to make sure that the first person they’re approached by is you.

For additional help in identifying your Target Market, read this blog.

#5 New Financial Planners: Make sure that your website is stellar

For all intents and purposes, your website or website bio, is you.

Your website is often the first thing that potential clients associate with your financial planning services. As such, if your website looks sloppy, so do you.

Here are a few tips to ensure that your website doesn’t send potential clients packing:

  • Look at the websites of other financial planners. Figure out what you like about them, and what you don’t like, and act accordingly.
  • Use a pleasing font. To find out what this means, simply look at which fonts you liked on similar websites.
  • Don’t overload your website. There shouldn’t be too much going on, since people generally prefer a simpler, sophisticated webpage, especially when it comes to finance.
  • Have a picture of you on your website. Studies have found that websites with a ‘face’ elicit more lead conversions than those without; a human face is more likely to stimulate feelings of trust, than a faceless finance website.
  • Make your contact information easy to find. Chances are, if a potential client can’t find your contact information within a few seconds, they’ll leave your site forever. So, consider implementing a ‘contact’ tab to your navigation bar, in addition display your contact info at the bottom of each webpage. Better yet, add a Book a Call” function into your website or bio page that links to your calendar availability. Use either Calendly or ScheduleOnce.
  • Have a branding professional look over your website, for a fresh perspective from an experienced pair of eyes.

Final Thoughts

So, if you want to kick-start your financial planning career and supercharge your success, follow this advice, and watch your growth as you become the next rising star in the financial planning industry.


About Suzanne Muusers