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BLOGSThe Marketing Maven
Marketing Ideas From -- And For -- Smart Financial Advisors
By Marie Swift
November 1, 2011
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I’m aboard a Southwest Airlines flight as I write this, winging my way home from the Garrett Planning Network’s 11thannual retreat. This year, Sheryl Garrett and approximately 130 network members (record attendance) gathered in Denver for just under three days to share ideas and talk about what’s working in their businesses.
Allan Roth, who has dubbed himself “the dull investor," was the opening keynote speaker. An hourly-only planner, Roth hails from Colorado Springs. While he is not a member of the Garrett Planning Network, he embraces the no-commissions / hourly-advice mantra that founder Sheryl Garrett has championed since 1999.
Roth, who writes a personal finance column called “The Irrational Investor” for CBS MoneyWatch got the crowd cheering and clapping, laughing and thinking, as he kicked off the first full day of sessions.
“I’m truly honored to be here talking to ‘the good guys.’ Never underestimate the value of the advice you provide,” he said.
When asked why he hadn’t joined the Garrett Planning Network, Allan looked at his watch and joked, “I think we’re out of time now,” before answering more seriously that he hadn’t joined NAPFA either. “I guess I’m just too independent and too busy,” he said. Roth typically has a one-two month waiting list for new client appointments.
Talk about a great value proposition. Roth clearly stands out as different when he speaks to prospective clients. He’s a dull investor and can clearly explain why he thinks that’s a good idea for his clients, too. He is qualified to write the Irrational Investor column for MoneyWatch “because I’m human.” He works by the hour and accepts no commissions. He has a waiting list to get in with him. And he only works with people he likes.
I used my Flip Cam to record some of his comments and observations so, rather than my trying to recap them here, I invited you to visit http://www.marieswift.com/ to watch one or more of the five-minute clips. You can also see a summary of Allan’s comments via my Tweets by logging in to your Twitter account and searching for @marieswift or by searching for the hashtag #gpnretreat.
MARKETING IDEAS, RAPID FIRE
This was my fifth year facilitating the “Marketing Ideas, Rapid Fire” session for the Garrett Planning Network. Members take turns sharing their best marketing ideas in short sound bites. The two-hour session produced dozens of really good ideas. Here are a few that stand out in my mind as I munch of my honey roasted peanuts en route to my hometown, Kansas City.
SHUT UP AND LISTEN
“Shut up and listen,” offered Dave McPherson, CFP®, who told a brief story about a woman named Sally who had received a fairly large legal settlement and, not knowing what to do with it, had simply put the check in a kitchen drawer. She’d interviewed other planners who asked what she wanted to do with the money. But when she interviewed Dave, he asked her what she wanted to do with her life and how she wanted to make a difference. Then he just listened and said, “let’s create a plan to do just that.” “I try to think of Sally every day and bring that type of focus to all my meetings,” he said, getting a little misty.
GET TO KNOW YOUR COMMUNITY AND FRIENDS
Get to know your community and friends,” offered Tracy St. John, CRPS. “I didn’t really think I was doing any marketing until someone pointed out that by my being involved in various charitable organizations that I was raising my visibility and doing something called ‘cause-marketing,’” she said. As a result of being active in her community, St. John has attracted clients and strategic partners who share similar values and interests. This is a hallmark of good marketing, in my opinion. Good marketing should attract people who will like and trust you, and that typically hinges on the psychographics more than the demographics. While St. John called this cause-marketing, I call this type purpose-driven prospecting. It’s a wonderfully enlivening way to find right-fit clients.
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In the May issue of Financial Planning magazine, I discussed how client perceptions may have changed over the past three years. I use the term Client 2.0 to describe this more-cautious and aware buyer, and offered thoughts on how you can better connect using an evolved Client Communications 2.0 plan. I spoke with several smart, accomplished advisors and industry consultants such as Ed Jacobson, Steve Saenz, Carol Anderson and Amy Mullen to hear their comments.…
When you start putting pen to paper (or fingers to keyboard), think carefully about the words and the style you use. Every communication is an opportunity to reinforce your positioning, market your firm and your build your brand. Sometimes, dear mild-mannered financial planners, it’s okay to be bold – and even a bit (gulp!) bossy. It’s a noisy world out there. Your ads, flyers and other marketing promotions must stand out and grab attention. …
Every communication is an opportunity to reinforce your positioning, market your firm and your build your brand. Yes, you really are marketing, whether you think so or not. Might as well do it right.
Marie Swift is a nationally recognized consultant who has for over twenty years worked exclusively with some of the industry’s top financial institutions, training organizations, investment advisory and financial planning firms. A top rated speaker at dozens of industry events including FPA, NAPFA, TD Ameritrade Institutional, Securities America, Schwab Institutional, NFL Players Association, Financial Network, Pershing and Lockwood conferences, Marie is dedicated to elevating the conversation in the industry.
Marie is also a prolific writer and contributes to many of the industry’s leading publications, including Financial Planning magazine. You can read Marie’s
newest content on www.financial-planning.com where she writes the weekly Marketing Maven column. She is also contributes content to the Networking 2.0 blog for Sourcemedia’s interactive, online destination created just for women advisors as an extension of the Women Advisors Forum events being held in cities across the country multiple times every year.
A thought leader for thought leaders, she is known for bringing some of the industry’s best and brightest voices together for dialog and debate. Her Thought Leader Round Table series is just one example how Marie generates interesting conversations with movers and shakers in the financial services industry.
Her Best Practices in the Financial Services Industry blog provides additional insights and advice, including podcasts, articles, videos and other helpful content for independent
financial advisors and the institutions that serve them. Find it at www.marieswift.com.
Prior to establishing her own firm in 1993, she served as Director of Corporate Communications for Worldwide Investment Network in Irvine, California, where she helped FNIC’s then #1 Top Producer attain and maintain that title for five consecutive years. She managed a staff of twenty that supported two-dozen successful registered representatives,
estate planners and wealth managers.
As president and CEO of Impact Communications, Inc., Marie leads a dedicated team of marketing communications and PR professionals serving financial institutions and a select group of independent advisors on an exclusive basis. Marie resides in Leawood, KS and can be reached through her website, www.ImpactCommunications.org. For breaking news, follow @marieswift on Twitter -www.twitter.com/marieswift.
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