🧲 Finders Keepers

Magnet fishing pulls up lots of random treasures, but none quite like this one. A New York couple made an interesting catch while fishing in a local pond.

They pulled up a slime-covered safe with stacks of cash inside…to the tune of $100,000.

The couple searched for the safe's owner, but had no luck. 

They reported their discovery to the police, who let them keep the money since no crime was committed.

You never know what lies beneath!

- Team Advisorist

In Today’s Issue 👇

• Three high-growth groups advisors should focus on

• The proper way to send a follow up email

• Alzheimer's impact on personal finance

🔥High-Growth Demographics

Wanna sharpen your focus when searching for prospects?

State Street Global Advisors recently released the results of their 2024 Influential Investor Segment Study. 

Here's what they found and how to tap into three key groups they identified.

👉 Gen X

• The study found that Gen X (born between 1965 and 1980) are an underserved group. 

• They're at a pivotal point in their financial journey (planning for their own retirement, caring for elderly family members, or supporting their children). 

• According to the study, 50% of Gen X investors are self-directed, but lack the financial guidance they desire.

Pro Tip: One of the biggest reasons why Gen X may not seek an advisor's help is due to fees. Keep things transparent and provide them with a full breakdown of fees and what they're for.

👉 Millennials

• This demographic (born between 1981 and 1996) grew up with the internet and uses it in every corner of their lives, including their finances. 

• According to the study, 82% of millennials either do their own investing exclusively or use an advisor on a limited basis. 

• As they accumulate more wealth from their parents, there will be a growing need for a professional's help.

Pro Tip: Millennials are tech-savvy and prefer a research-driven approach to managing money. Include articles, graphs, and other visuals to drive things home. 

👉 Women

• Women are coming into control of the majority of assets and are focused on retirement and long-term planning.

• They seek advisors who prioritize risk management and retirement solutions.

• According to the study, 46% of female investors have worked with their advisors for over 10 years, compared with 36% of males.

Pro Tip: Women investors value trust along with strong credentials, a well-respected firm, and referrals from friends. Spend time building the relationship and show them they're in good hands.

Headline Roundup

🏠 Affecting Your Clients

• Housing Affordability Top Issue for Gen Z Voters in Upcoming Election [Y!]

• White-collar Workers Struggle to Find Jobs as Labor Market Slows [FOX]

• Toyota to Recall 100,000 Vehicles Over Risk of Stalled Engines [WP]

📈 Markets & Economy 

• Asia’s Chip Giants Hustle to Maintain Their Edge Over the U.S. [Y!]

• GameStop Surges Again After Roaring Kitty Schedules Livestream [MW]

• Coffee Prices Heading Up as Folgers’ Owner Faces Higher Costs [B]

💼 Industry Roundup 

• SEC Hit With Lawsuit Over Texting Sweep [TA]

• Consumer Knowledge Gap Persists Despite Booming Annuity Sales [INN]

• Fidelity Piles On Pressure in Revenue Plan for ETF Firms [AH]

📨 The Art of the Follow-Up Email

Did they get your last email? Sitting around twiddling your thumbs, waiting for a response? Eager to bug them again ASAP?

While you don't want to be a pest, the follow-up email is key in getting a response (and sealing that deal). 

Check out these stats:

• People who send at least one follow-up email after no response reach an average 27% reply rate. 

• People who don’t send one only have a 16% average reply rate.

• Compared to your first email, your first follow-up email has a 40% increase in reply rate. 

Now that you know how important it is to follow-up, it's time to lay down the ground rules. Use these tips to make sure your nudge checks all the boxes:

⌚ Timing is everything. Wait at least three days before following up again. If you follow up within a day or two, it could come off as pushy or desperate. Give the recipient enough time to respond.

📩 Don't resend the first one. Instead of copying, pasting, and resending your original email, use something new. Simply using the original could get you blocked or sent to spam. Play around with subject lines and greetings to keep it fresh.

😎 Mind your manners. Don't make the person on the other end feel guilty with passive-aggressive language. Use positive phrases like, "wanted to get this at the top of your inbox," or, "just wanted to touch base again."

👌 Keep things short. Limit your follow-up message to no more than three paragraphs. Use bullets to summarize your original message and make it easy to read. 

👉 Include a CTA. Make sure your recipient knows exactly what to do after reading your email. Include links to schedule follow-up meetings, links to webinar sign-ups, etc.

🧮 By the Numbers

17.2% 

A year prior to an official Alzheimer's diagnosis, that's how much more likely a person is to be delinquent on their mortgage.

A recent study looked at the financial toll of Alzheimer's disease and found that long before people develop dementia, they often begin falling behind on mortgage payments, credit card bills, and other financial obligations.

The study also found that people were 34.3 percent more likely to be delinquent on their credit card bills a year prior to diagnosis.

✌️Good Vibes

Colorado's Morrison Formation is home to a ton of dinosaur bones. It's also where Jason Cooper calls home.

Cooper's 100-acre ranch sits on top of the land mass. On his 45th birthday in 2022, he made an incredible discovery: three-fourths of a complete adult stegosaurus skeleton.

It measured in at 11.5 ft tall and 27 ft long from head to tail. With help from friends, Cooper dug up the bones and cleaned them in his workshop. 

Although he's donated several fossils to various scientific institutions in the past, the stegosaurus is heading to Sotheby's showrooms in Manhattan. 

Cooper's dinosaur is expected to earn between $4 and $6 million at auction. That's a pretty decent payday for a day in the dirt! 🤠💸

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