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Most advisors get stuck in a cycle of relying on referrals to grow their businesses. But what if you had a dependable set of emails you could send out to both cold and warm prospects and consistently load up your calendar with appointments?

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A Real Pane ✈️

Is it a little drafty in here, or is it just us?

If you were one of the lucky passengers on a recent flight from London to the U.S., you'd be asking the same question.

Somehow, the plane took off with four damaged windows, including two that were straight up missing. 

The best part? This wasn't discovered until the plane reached 13,000 feet.

Thankfully, the plane landed and everyone was just fine. Maybe wear some extra layers just in case?

– The Advisorist Team

In Today’s Issue 👇️ 

• How to mix ETFs into a client's portfolio

• Why you should use emojis in client texts

• A tip to make ChatGPT sound more on-brand

And all of the week’s biggest headlines to make you the smartest advisor in the room. Let’s dig in!

📈 ETFs: So Hot Right Now 

ETFs have been steadily gaining traction since they hit the scene in the early '90s. 

Today, they're going mainstream faster than your favorite indie band after their first major record deal. cries in hipster

🆒 Trend Alert

According to Morningstar data: 

• ETFs’ market share relative to mutual funds has swelled to almost 30%, up from 13% a decade ago.

• ETFs had $7.2 trillion of U.S. investor assets through this past September. 

• Over 16 million U.S. households (roughly 12% of them) held ETFs in 2022. 

Why does everyone love ETFs so much? 

For one, they're more tax-friendly than mutual funds. They don't trigger capital gains taxes due to their structure.

They're also cheaper and don't carry distribution fees. 

According to a recent study, the average annual cost of “passive” mutual funds is 0.45% of investor assets, more than twice the 0.21% average for ETFs.

Who doesn't love a great bargain? 🤓

📊 In the Mix

If your clients are looking to add ETFs to their portfolio, here are three great strategies to suggest:

1. Dollar-cost averaging: Invest a set amount of money regularly, regardless of market activity. Example: automatically contributing to your 401(k) every paycheck. Good for risk-averse clients.
   

2. Asset allocation: Use ETFs as building blocks in a portfolio, great for new clients. ETFs are a low-cost way to incorporate different asset classes depending on your client's financial goals. Adjust periodically through rebalancing.
   

3. Buy and hold: For long-hauler clients who want to set it and forget it. The tax efficiency of ETFs makes them a solid choice for a buy and hold strategy. In-kind trades also won't trigger capital gains.

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Headline Roundup

🏠 Affecting Your Clients

• Median Homebuyer Income Up 22% From Last Year [I]

• 31% of Millionaires Say They're Middle Class [CNBC]

• Average Credit Card Balances Reach 10-Year High [CNBC]

📈 Markets & Economy 

• Approval for First Bitcoin ETF Could Happen in Early 2024 [CNBC]

• Dow Sees First Bearish "Death Cross" Since 2022 [MW]

• Hedge Funds Short Oil Due to Negative Outlook [Y!]

💼 Industry Roundup 

• UBS Looks to Attract High-End Art Collectors [FP]

• Study: Tech-Savvy Advisors Serve Clients Better [IN]

• Advisors Look Toward Private Credit Amidst Rising Rates [IN]

📲 Go Ahead, Send That Emoji

Quick, send that client a follow-up text. 

While you're at it, throw in a couple emojis for good measure. 🎉 👏

Before you write them off as unprofessional, emojis really are an integral part of how we communicate these days. 

Let's get into why texting works and why you should sprinkle in some smiley faces.

🤳🏼 Just Text Her, Bro

As far as marketing goes, SMS has an open rate of 99%, and 90% of messages are opened within 3 minutes.

On top of that, 78% of consumers say that a text is the fastest and easiest way to get a hold of them.

Texting clients is totally the way to go for more urgent communication, like:

• Scheduling a quick virtual meeting

• Sending day-of meeting reminders

• Checking in when a client is late to a meeting

Bottom line: Texting gets the job done far more efficiently in these scenarios. 

Don't wait for your client to fish through their email or check their voicemail. It might not happen.

🙏 The Case for Emojis

Emojis aren't just for texts to cheer up a grumpy girlfriend. Here's some science behind why they work for clients:

🧠 When people look at an emoji, the brain behaves the same way as when they look at a real human face. Really!

💜 Emojis communicate empathy in situations where a normal text message could be viewed as sarcastic, rude, or condescending.

👋 Emojis make the interaction feel “non-salesy.” It makes it feel like a casual check-in between two friends who’ve known each other for a long time.

Bonus fact: Research shows that emojis boost push notification open rates. 

Boom 💣

Don't overthink it. Sending a quick emoji-friendly follow up can be as simple as this:

🤓 Tech Tip

Trying to get ChatGPT to sound more on-brand? 

Use seed phrases to help the chatbot zero in on your desired style, tone, and topic.

Start with something like these before your query and see what happens:

• "In an uplifting tone…"

• "In an authoritative voice…"

• "In a casual tone…"

🗓️ Upcoming Industry Event Calendar

Nov. 28-30: Investments & Wealth Strategy Forum

Nov. 29 - Dec 1: Barron's Advisor Women Summit

Dec. 4-7: Market Council Summit

✌️Good Vibes

OK, we're really bringing home the bacon with this one. Pun heavily intended.

Chelsea Rumbaugh, a hog owner from Pennsylvania, hit the panic button when she realized a pig named Kevin Bacon escaped his pen.

To get the word out, Chelsea set up a Facebook page called "Bring Kevin Bacon Home," which eventually caught the attention of Kevin Bacon, the human.

The famous actor then shared the group on his own feed to boost the search efforts.

In an interesting turn of events, the hog eventually found his way home and was lured back to his pen by a Benadryl-laced sticky bun. Nighty night!

Sharing looks good on you.

When you copy that link at the bottom and share it with a few financial planning colleagues, you look like the smartest advisor in the room by keeping them informed.

Plus, you earn rewards. Sweet.