😎 Good Morning… It’s Finally Here

This newsletter represents an exciting evolution of Advisorist - and we are PUMPED.

Built on feedback of hundreds of financial advisors survey results and interviews…

It’s our take on what I think a “give-me-the-download-and-tips” newsletter in the finserv and insurance world should be.

Let’s dive in!

Jeremiah D. Desmarais
CEO, Advisorist
Inc 5000 Fastest Growth Companies

PS - Hit reply and let us know what you thought so we can work it into future issues!

In Today’s Issue 👇️

• 'Financial Coaching': The new term investors are searching for

• How to use news headlines to sell + (2 email subject lines )

• New #fintok trend on money 🔥

• FA analyzes’ characters money moves on “Succession”

• Powell’s Hike again?

Let’s dig in…

Investors Now Prefer ‘Coaching’ to Advising

“Financial advisory” is SO last decade.

Okay, not truly…. but the semantics are changing.

Searches for ‘Coaching’ on The Rise 🚀 

Over the past year, data reveals a surge in popularity for the term “financial coaching” – something that’s indicative of a larger trend where people are open to being “coached” but still want to retain some level of autonomy over decisions.

In an age where millions of people are exploring…

• DIY investing

• Robinhood

• Reddit

• Etc.

…savvy investors still want help from professionals.

But They Want Help on Their Terms 🤷‍♂️ 

However, before today’s investors dump all of their assets over to an advisor to be managed, they want to be equipped with skills and tactics that they can use to do things like:

• Budget

• Save

• Invest

• Get out of debt

Okay, So What’s an Advisor to Do? 🤔 

Being successful with marketing and prospecting is all about packing your services in a way that’s appealing to your target audience.

With so many people searching for “financial coaching,” try reframing your offers and services with this in mind.

And if you’ve always struggled with how to serve clients who don’t yet meet your minimum AUM threshold, 1-on-1 or group coaching services could be a great way to build relationships and generate extra revenue while you wait for them to become ideal clients.

The Nitty-Gritty Details 💰️ 

Some advisors charge $2,500 for 1 call a quarter + email support with clients who are not at their min AUM level yet.

Try pitching it on your next sales call and see what happens!

🍎 Class in Session: Selling With Headlines

_{By Lloyd Lofton}

I recently ran across the headline pictured above about an elderly Texas couple who lost their life savings after falling victim to a scam costing them $43,500.

What the Headline Means

Being “scammed” out of your savings is a relatable event when we all think of the elderly. Why? Because we don’t want to be “that” elderly person.

Always be thinking about how you can take current headlines that relate to your clients and prospects and develop “pivot messages.”

The Pivot message

The victims were sophisticated enough to use a “Bitcoin” ATM but not recognize the scam – could that be ME?

This is a great headline or subject line. It’s also a great conversation starter.

People like 2 things:

1. They like to hear their name

2. They like to have their opinion asked.

Subject Line Examples

• Subject Line Example 1: Could this scam happen in your old age?

• Subject Line Example 2: How can you prevent being scammed in retirement like Judith and George?

Here’s What the Email Could Say…

Are you more worried about “someone” scamming you out of your hard-earned savings or “being” scammed by inflation, taxes or loss of buying power.

Judith and George lost their life savings over 2 days.

How long does it take for your purchasing power to be reduced by inflation or taxes?

Click here to schedule 15-minutes to learn 3 ways to reduce this risk and guarantee your income, on your terms.

Sponsored

 📕 What Advisors Are Reading

Did you know that email delivers the highest ROI for advisors?

According to a McKinsey study, email is 40X more effective at acquiring new clients than Facebook or Twitter.

It also outperforms:

• Affiliate marketing

• Paid search

• Display ads

• Video

• Radio

• TV

The average ROI is 4,200% – meaning you recoup $42 in revenue for every $1 spent on email.

Most advisors have thousands of dollars hiding in their current email list…without even realizing it.

But there are small tweaks you can implement to instantly get better results.

For example, did you know that subject lines with 7 words and ~41 characters get opened more than any other length?

If you want more nuggets like this – as well as complete email scripts that have helped other finserv professionals generate over $1.12 million in commish, we’ve put together a hands-on playbook.

You can literally just copy-and-paste the emails.

The Million Dollar Swipe File is a 48 page e-book with over 15 different email campaign examples, templates and tactics that generated over $1,200,000 in financial planning fees and commissions. Use code ‘4COMMAS’ for a $70 discount - just $27 today. 👉  Click here to claim the deal!

Top Headlines: Everything You Need to Know

Headline Roundup

• Zuck’s Twitter rival passed 100M signups (LI)

• IRS": ‘Last call’ for taxpayers to claim $1.5B in 2019 refunds (FX)

• Job openings hit 9.8 million in April (FN)

• Tuesday set an unofficial record for the hottest day on Earth (AP)

Markets and the Economy

• ‘Goldilocks’ economy emerging (CC)

• Economist: U.S. recession just around the corner (MW)

• Americans Have Quit Quitting Their Jobs (WSJ)

Financial Services

• New RMD Rules Turn Charitable Giving Into Retirement $ (YF)

• Study: 46% of FPs Don't Recommend LTC (YF)

• Gen Z Opting for Careers in Finance (FQ)

• Wealth Advisors Unhappy & Apathetic (study) (NA)

FinTech Trends

• Chase Developing ‘IndexGPT,’ Stock Picker (IL)

Insurance World

• Insurance Business America's Hall of Fame taking entries (IB)

• RetirementSoon.org launches helping with annuities (401k)

• Ransomware Gang Has 6M Life & Annuity Client Records (TA)

• MFC, RGA, SLF Offer Dividends & Steady Return (ND)

Sales & Marketing

• YouTube experimenting new lock screen feature (TC)

• Instagram: Threads ‘Following’ on list of upcoming features (TC)

Crypto

• Ripple Ruling a Blow to SEC’s Effort to Regulate Crypto (WSJ)

• BlackRock CEO: Bitcoin could revolutionize finance (CN)

• Kraken ordered to hand over $20k+ user info to IRS (BD)

• Taylor Swift agreed to FTX partnership (CC)

Advisors in the News

• TV: Local FA shares insights on strengthening retirement (CS)

• SS Expert Shares What Your Benefit Should Be in 5 Yrs (AL)

• 'Succession’ Characters’ Finances Analyzed by CFP® (YT)

🔥 “What Would I Do If I Was Back in My 20s?”

TikTok users are predominantly younger - think 15-30 years old – so this hot FinTok trend makes a lot of sense.

“This trend is all about sharing personal financial advice that individuals wish they had received when they were younger.

It aims to empower and guide the younger generation towards making informed financial decisions early in life.”

[The Great Financer]

📈 Powell to Take Economy “Hiking” Again

Strap on your boots for another hike — an interest rate hike, that is.

During a recent testimony in front of Congress , Fed Chairman Jerome Powell suggested that if the U.S. economy continues its current trajectory, further increases in interest rates are highly likely before the end of the year.

🤔 C’mon, Jerome – What’s the Deal?

Blame the uninvited guest that's overstayed its welcome – inflation.

Here’s the lowdown…

Despite this month’s “pause”, the central bank is still actively fighting inflation by tightening financial conditions with a few levers:

1. Higher borrowing costs

2. Lower stock prices

3. A stronger dollar

Core inflation (excluding food and energy) remains at 4.7% year-over-year through April, and CPI clocked in at 5.3% in May.

📊 Where Things Stand Right Now

The Fed currently holds its benchmark interest rate at a level between 5% and 5.25%, but officials project rates will have to increase another half percentage point by the end of 2023.

Of course, higher rates mean pricier borrowing, which could impact mortgage and credit card payments and weigh on business investment.

And a slowdown in economic growth, along with "some softening of labor market conditions", could potentially impact job prospects as the economy downshifts.

🔮 What Are The Odds?

Traders are currently eyeing an 80% chance of a hike after the Fed’s July get-together, per the CME’s FedWatch tool.

Yet, the odds for another hike in the subsequent three meetings dipped below 20%.

Keep a close watch on the Fed’s meeting in late July as it will likely shape the investment environment for the rest of the summer.

==========================

The Federal Open Market Committee (FOMC) meeting schedule 2023:

• July 25-26

• September 19-20

• October 31-November 1

• December 12-13
  

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