🚢 A Boatload of Tapes

One Florida man loves the movie Titanic so much, he's collecting all the copies he can. 

JD, (AKA TitanicFan97 on YouTube), currently has 2,467 copies of the famous 1997 film on VHS.

But he's not stopping there. He's aiming for one million copies. 

JD finds tapes at thrift stores, flea markets and garage sales. His followers have also mailed him tapes from all over the world.

If this superfan hits his goal, he'll earn the world record for the largest collection of Titanic VHS tapes. 

That's one unsinkable accomplishment.

- The Advisorist Team

😲 We’ve Never Done This in 3+ Years

This week marks Episode #178 of our free weekly Power Hour - where 7,923 financial advisors are already registered. 

And up until now, every single episode has been on a Wednesday.

But this week, we have a VERY successful Power Hour guest who is in extremely high demand.

His proprietary formula has generated millions in AUM and annuity/life commissions working EXCLUSIVELY with doctors, dentists and business owners. 

He’s only taught this to 3 advisors, and here are their results:

• Advisor 1: Turned 5 doctors into clients worth $2M+ in AUM and $200K in commissions.

• Advisor 2: Used the system to generate $1.5M-$2.0M in commissions from Life/Annuities (and counting)

• Advisor 3: From 2019-2023, has generated $2M+ in AUM and $600K+ in commissions

So when he told us that Thursday at 12pm EST/9am PST is the best chance he has to teach Shift Nation his proprietary formula for consistently getting in front of HNW doctors, dentists, and biz owners…

…we said, LET’S DO IT! 💪

This system allows advisors to predictably and consistently onboard 5-6 wealthy doctors, dentist, or business owner clients who are immediately worth $40k – $50k in commissions each.

Don’t miss it – click here to register!

In Today’s Issue 👇️ 

• How to be the bearer of bad news

• The secret to catching wealthy clients

• A quick guide to saving voicemails

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

🗞️ Breaking Bad (News)

In our crazy, unpredictable world, even the best laid plans sometimes go sideways. 

You could be the best in the biz, but there will be times where your advice will lose out to major global events and stock market crashes. 

Of course, no one wants to be the bearer of bad news when things head south, but you owe it to your clients to have those tough conversations. 

Here are some practical do's and don'ts when delivering bad news:

✅ DO:

• Make the call ASAP.  Eat the frog first by tackling difficult conversations early in the morning. 

• Focus on the long term. Shift your client's mindset back to the long game. Remind them that worrying about the short term isn't helpful.

• Offer your opinion on what to do next. Remember, your clients pay for your advice. Give them your thoughts on a game plan for the rest of the year and beyond.

• Remind them you're an investor, too. If they're losing money, so are you. Help your clients feel less alone by letting them know you're in this together.

🚫 DON'T:

• Avoid calls. Hiding from clients will only make things worse. You make money from the relationship, so you owe it to them to be responsive.

• Assume your clients will stay in the dark. Even if your clients aren't reading up on the latest news, you don't want them to get it from anyone else but you. Be proactive.

• Say it's out of your control. Of course, a market crash is out of your hands, but no one wants to hear that. Stay solution-focused.

• Blame your firm. If fees are going up, you want to remain loyal to your firm and offer a reasonable explanation. Otherwise, clients may question your loyalty to them, too.

🤑  Quick Favor For a $200 Reward!

Hey – Jeremiah here! I just spent the weekend hanging with NYT Best-Selling Author Garrett Gunderson at his home in Salt Lake City.

On the plane, I read his newly published book, Money Unmasked, which is already climbing the Amazon charts.

And it’s one of the most impactful financial books I’ve ever read – I can’t recommend it enough.

I found so much value in it, that when Garrett approached me with a small ask, I didn’t hesitate to say yes.

You see, Garrett has a lofty goal with this book: To make it the most influential financial book in history. 🤯 

But in order for that to happen, he needs to get the word out.

So he’s doing something really neat for Advisorist subscribers.

For anyone who does the following, Garrett is giving away a $200 bonus for FREE:

• Step 1: Buy the book here.

• Step 2: Read & submit a review within 24 hours to qualify

• Step 3: Take a screenshot of your review and email it to [email protected]

When Garrett receives your email, he’s going to GIVE you his Rich Life Bundle valued at $200.

The bundle includes:

1. Digital Copy of Killing Sacred Cows: In Garrett’s first book, he exposes the financial myths that are destroying your prosperity and reveals the truth about money.

2. Digital Copy of What Would the Rockefellers Do?: Discover the wealth plan invented and used by the wealthiest families.

3. Money Persona Quiz: You have a “Money Persona” that dictates every financial decision you make. Discover yours to learn how to improve your relationship with money.

4. Financial Health Assessment: Use this simple checklist to see where you’re strong and where you need some help when it comes to your financial foundation, security, and growth.

5. Soul Purpose Activator Kit: You can’t live your richest life without knowing your Soul Purpose. This workbook helps you discover your purpose

👉 Click here to grab a copy of Money Unmasked! 

(And follow the 3-step instructions above to get the $200 Bundle FREE!)

Headline Roundup

🏠 Affecting Your Clients

• Consumers Spent a Record $18.86T in October 2023 [K]

• Survey: Americans Buying Homes Despite High Prices [FA]

• Americans Plan to Tip More This Holiday Season [K]

📈 Markets & Economy 

• Oil Prices Settle at 2-Week Lows [MW]

• Stocks Slip as Rally Takes a Breather [Y!]

• Bitcoin Surges Past $42,000 [Y!]

💼 Industry Roundup 

• Private Credit Is Giving Investors Better Returns Than Private Equity [FA]

• Wells Fargo’s Ex-CEO Sues for $34 Million in Withheld Pay [AH]

• Survey: 58% of Life Insurers Use AI (Or Are Interested) [INN]

🐋 How to Catch a Whale

Ultra-high-net-worth clients may take more work to reel in, but once you do, you're golden. 💰

Working with the wealthy means you can build a successful practice with a relatively small number of clients. Who wouldn't want that?

To catch these fish, you have to play the right game. 

Part of that game involves working with centers of influence (COIs), or other professionals who serve highly affluent clients.

COI referrals are the primary source for advisors’ best new clients. According to research, 70.8% of advisors report that their best clients came from a COI introduction.

Your first step… 

Build strong relationships with COIs. 

They come in all shapes and sizes and include accountants, private client attorneys, business brokers and high-end insurance providers.

Once you have a solid relationship with a COI, host a client appreciation event for their top clients. There, you'll highlight your expertise in person to these top prospects.  

With the COI on your side, you'll have built-in buy-in. Prospects are more likely to trust recommendations from people they already work with, especially the affluent.

Earlier this year, we hosted a summit where Lawrence Sprung gave us some awesome tips to nail your client appreciation events:

• Best times of the year to host? During the fall after school starts and in the spring before graduation and the end of the school year. Winter weather is a gamble and summer is typically family time.

• Events should always be based around having fun. Choose a top restaurant, head to a place like TopGolf, or host a ‘paint and sip’ night.

• When inviting clients, start with those "platinum" guests you want to fill the room with. Then, work your way down the list based on priority.

• Once invites have been sent, send a follow up message to guests you haven't heard from and include "there is no sales presentation" to make clear it's not a pitch.

• At the event, aim for a ratio of one advisor for every 10 people. Invite others from your team and divide and conquer.

Remember, wealthy people are people, too. Most people just want to get to know you as a human being, so don't be afraid to be yourself! 🌟

🗓️ Upcoming Industry Event Calendar

• Jan. 8-12: 58th Annual Heckerling Institute On Estate Planning

• Jan. 13-15: Global Financial Planning Institute’s CONNECT 24

• Jan. 15-18: AICPA PFP Summit

✌️Good Vibes

Jason Smith is more than just a Kentucky school principal. He adopted 14-year-old Raven Whitaker after she spent most of her life in and out of foster homes.

Jason walked out of his office one day and saw Raven sitting on a chair by the door. She was suspended for throwing a cup of yogurt during lunch. 

When he asked her if that kind of behavior would be acceptable at a restaurant, Raven replied that she'd never been to one. 

Something about Raven touched Jason's heart and he and his wife discussed taking Raven in as a foster child. In 2015, they became her foster parents.

The family made things official in 2017 when they finalized Raven's adoption.

Today, Raven attends the University of Kentucky where she's studying to become a social worker. She says having a principal in the house made all the difference in her success. 🎓🤩

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.