🛻 FA Saves NFL Player From Huge Mistake

NFL player Ji’Ayir Brown, who recently played in the Super Bowl and is in the middle of a $5.3M contract with the San Francisco 49ers may have just made his smartest move of the year.

Stuck in the middle of negotiations with a car dealership trying to sell Brown a marked up Tesla Cybertruck for $210,000 (MSRP $81,895), Brown paused to call his financial advisor.

And just like that, his advisor told him to call the deal off.

“It’s not in the cards right now,” he came back and told the dealer, adding that his adviser is “the guy I trust most.”

That one of you guys? 🤔 👏 👏

- Team Advisorist

In Today’s Issue 👇️ 

• 4 measures of the health of the economy

• The power of ‘knowledge gaps’ in marketing

• A heartwarming story of generosity

📊 THIS Is How the Economy is Actually Doing

There are hundreds of different economic measurements that supposedly measure how we’re doing on the money front.

However, you really only need to look at a few to understand how things are doing on a practical level.

According to Chartr, these four measurements are particularly important at this moment in time:

• Inflation: The word nobody wants to say! Well, here’s the good news: It appears to have peaked at end of 2022 and is now coming back down to earth. The latest data shows prices were up roughly 3.1% in January – which sounds like a lot – but pales in comparison to the 9% increases that were seen in 2022.

• Housing Affordability: High mortgage rates combined with soaring home prices mean it now requires at least 34% of the median income to make a monthly payment on a median priced house. Yikes!

• Wall Street: The S&P is feeling a little frisky so far in 2023 – up nearly 9% as of this writing. In total, the S&P is up roughly 43% since hitting a low in the fall of 2022.

• Wages: For the first time since the start of the pandemic, real hourly compensation has finally turned back into the black! (Or green, if you’re looking at the chart above.) But regardless of the color, that’s good news for millions of Americans.

Headline Roundup

🏠 Affecting Your Clients

• Mortgage Rates Drop to 6.74%; 5-Week Low [MW]

• 40% of Americans Don’t Plan on Working Once Retired [Y!]

• Despite Rising Costs; Research Says College Still Worth It [CNBC]

📈 Markets & Economy 

• US Jobless Claims Dip to 209K [MS]

• Wholesale Inflation Rose 0.6% in February [CNBC]

• Reddit IPO Has Meme Stock Potential [Y!]

💼 Industry Roundup 

• CFP Board Overhauls Sanctions and Certification Rules [IN]

• Record Number of Workers Have Access to 401k [IN]

• JPMorgan Chase Fined $348M for Marketing Misconduct [MW]

🧠 The Power of “Knowledge Gaps” For Persuasive Marketing

We’re all about giving away value here at Advisorist.

💎 Valuable content

💎 Valuable nuggets of wisdom

💎 Valuable lead magnets

You name it…

But when you put on your marketing hat, it’s important to remember that you need to be mindful of HOW you’re giving away value.

There’s such a thing as being TOO forthcoming.

In order to maximize the effectiveness of your marketing and prospecting efforts, I recommend leveraging the power of CURIOSITY.

Here’s what I mean by that…

Always leave a knowledge gap.

Always tease what you’re doing without giving everything away.

The objective is to make people click, download, attend, book an appointment, or fill in the blank .

And that’s much easier to do if you’re NOT giving away the whole enchilada.

If you’re writing a headline for a landing page, it’s not…

❌ Check out this free guide to learn how you can use overfunded whole life insurance to become your own bank!

It’s more like…

✅ This free guide shows you how to leverage an underutilized financial loophole that America’s wealthiest families use to secretly build wealth!

One gives too much away.

The other creates insatiable curiosity that demands to be clicked.

🗓️ Upcoming Industry Event Calendar

March 20: Virtual Advisor Power Hour

Mar 24 - 25: Shift: Human First Financial Guidance

🧮 By the Numbers

43%

According to Vanguard, that’s the number of workers who increased their 401k contributions in 2023, compared to just 8% who cut their contributions. [Vanguard Report]

✌️Good Vibes

In what is one of the most heartwarming stories of the year so far in 2024, a group of students living in a Providence College dormitory surprised their beloved building security guard with the gift of a lifetime…literally.

James, the jovial security guard who is known for being the nicest man on campus, hasn’t been home to Nigeria to see his family for 11 years.

When the students learned this, they launched a GoFundMe campaign with a modest goal of $3,500 to fund a trip.

The results blew them away: $26,000.

"We take care of our own,” a resident said when presenting the gift. “That's what we do at PC. As long as I've been here, they've done that for me, we've done that for each other, so now we're doing it for you."

You can watch the full video here!

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.