First an Earthquake, Now an Eclipse

Baseball is a funny sport.

It’s been played for nearly 150 years, yet every season you see something that’s never happened before.

Like this year…when the New York Yankees have already played on the same day as a 4.8 magnitude earthquake…followed by a solar eclipse three days later.

The team even had to push back the start of the game on Monday for 4 hours.

What will Mother Nature’s next pitch be?

We’re taking guesses…

- Team Advisorist

In Today’s Issue 👇️ 

• Why young adults plug ears to parents’ advice

• Free app makes training assistants easy

• 3 LinkedIn marketing trends working now

😬 Young Adults Tired of Parents’ Financial Advice; Turn to Social Media

Leigh, now a 27-year-old living in Maryland, was just a small child when she first saw her parents’ income statements.

Even at an early age, she knew the numbers weren’t adding up – because she knew how much they were spending on a monthly basis.

By the age of 13, she attempted to create a budget for her nine-person household – though her parents largely ignored it.

While she has no hard feelings toward her parents now – and feels they did their best – her experience (and the long-term financial scars she has today as an adult) are common for millions of young millennials and Gen Zers.

👎️ Parents Losing Financial Credibility

When asked why they don’t follow their parents financial advice, many young adults point to really simple examples like:

• Despite the benefits of high-yield savings accounts, 50% of Boomers say they’d rather keep their money locked up a local bank branch (even if it earns a fraction of the interest).

• 30% of young adults said their parents didn’t teach them anything about building wealth when they lived in their home.

• 30% of young adults say the current economy makes building financial wealth much harder today than it did 25-30 years ago (rendering their parents’ advice irrelevant).

👀 Where Do Young Adults Get Financial Advice?

To the surprise of some, millions of young adults seek out financial advice from TikTok and Facebook…rather than from their parents.

Of those surveyed:

• 21% of Gen Zers get financial advice from Facebook

• 19% of Gen Zers get financial advice from Instagram

• 17% of Gen Zers get financial advice from TikTok

• 12% of Gen Zers get financial advice from X/Twitter

🤔 What’s an Advisor To Do?

As a financial advisor, you’re in a unique position.

While you might be the same age as many parents of Gen Zers and young millennials, you’re seen as an unbiased third party voice with credibility.

This gives you a unique opportunity to grab attention in a way that their parents might not be able to.

The challenge? You can’t sit on the sidelines.

You need to be on social media – and there’s never been a better time than now!

Headline Roundup

🏠 Affecting Your Clients

• New Student Loan Forgiveness Plan Could Erase $20k Per Borrower [CNBC]

• Fannie Mae Expects a ‘Thaw’ in Housing Market [MW]

• Many Americans Worried ‘Comfortable Retirement’ Not Possible [FXB]

📈 Markets & Economy 

• Economists Are Very Uncertain About Fed Rate Cuts [CNBC]

• Zuckerberg Richer Than Elon for First Time Since 2020 [MW]

• How This Year’s ‘Halving’ Will Impact Bitcoin [FRBS]

💼 Industry Roundup 

• JPMorgan Chase CEO: AI May be as Impactful as Printing Press [CNBC]

• MIT Wonders If Generative AI Can Provide Trusted Financial Advice [MIT]

• Supreme Court Hears Case on Insurance and Estate Taxes [JOA]

📚️ Useful App for Creating Guides and SOPs for Assistants

If you’re serious about scaling your business, you have to learn how to multiply yourself.

In other words, get good at delegating, outsourcing, and handing off repeatable tasks.

This allows you to focus on the big ones…like sales.

But if you’ve ever struggled with knowing how to explain processes or show an assistant how to do something, you may have thrown in the towel and thought…

“It’s not worth the trouble – I’ll just do it myself.”

If you’ve ever found it difficult to delegate for fear that it won’t get done properly, I’m going to show you a neat little tool that might just change your mind.

It’s called Scribe.

This useful tool automatically creates how-to guides with screenshots, instructions, and clicks.

Simply go through a process – like submitting an application – and the software will turn it into a step-by-step PDF with screenshots.

You can then send this document to any new hire – including a virtual assistant – and they can use the PDF as a manual to follow along.

Another alternative is to use a screen recording tool like Loom to allow someone to watch you complete the process in real-time.

Pretty cool, eh? 😎 

🗓️ Virtual Event of the Week

The LinkedIn platform continues to be one of the most powerful platforms for connecting with (and nurturing) leads as an advisor.

But things move fast on LinkedIn – trends emerge and new features pop up without much notice.

So we’ve called in our resident LinkedIn lead specialist to share what’s working on today’s Virtual Advisor Power Hour.

▶️ LinkedIn Marketing: 3 Trends Working Now ◀️

👉 The ‘5-Second Profile’ and how it impacts an FA’s ability to generate leads on LinkedIn

👉 The current language of LinkedIn today (and what every advisor needs to know to thrive)

👉 Extra steps that make a big difference in LinkedIn reach and engagement

PLUS…Tom Hegna joins Jeremiah Desmarais as a special guest for a pretty big announcement!

Join the Power Hour Today at 12pm EST / 9am PST!

🤖 Tech Tip

This past week, FINRA released an alert letting financial advisors know about a rampant 'phishing’ campaign that involves fraudulent emails.

The emails purport to be from FINRA using the domain name “@filling-regfinra.com,” but officials say it is in no way connected to FINRA.

If you receive an email similar to the one below, these are hackers looking to steal data. Do not open attachments or reply.

Fake FINRA Phishing Email

Dear Name,

I hope all is well!

I will be your FINRA relationship manager going forward and would appreciate the opportunity to have to discuss how you work with Finra account management (reports, exams and fillings) and where FINRA fits into your practice.

As of now, my schedule is relatively tight and I need to confirm an appointment that works for you before the end of today. Please click the "book a meeting" link in my signature to select a date and time.

PS: I'm unable to respond to unscheduled calls and you may be required to authenticate your email account to confirm a booking.

I look forward to speaking soon!

Name

✌️Good Vibes

NBA player Mitch Robinson has always been close with his high school coach Butch Stockton.

So much so that when Butch’s wife became sick with cancer, Mitch came to see her every day in the hospital.

When Butch’s wife passed away earlier this year, Mitchell asked Butch if he’d like to move from his home in Louisiana and live with him until he could emotionally get back on his feet.

Butch took him up on his offer and the two have been roommates in New York City since the start of the season. ❤️ 

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.