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Why the World Needs FAs

Good morning and Happy Sunday.

In case you need a reminder of why you’re needed as a financial advisor, look no further than Mr. Edwin Castro.

He won the $2 billion Powerball lottery this February - and immediately went on a spending spree buying up a a string of multi-million dollar mansions in California.

I doubt Edwin has burned through his winnings yet - but hopefully, he finds an advisor before he does.

Jeremiah “Can You Say McMansion" Desmarais

CEO, Advisorist

In Today’s Issue 👇️ 

• One secret AI tool that can supercharge your productivity

• A social post on MLPs to connect with prospects

• Unlock hidden wealth with a quick email script

Plus, a roundup of all the headlines you need to stay updated.

🤖 AI: The Advisor Sidekick

AI is all over the place these days – and finance is no exception.

Morgan Stanley is rolling out a shiny new chatbot for pesky admin tasks, and Orion just debuted an AI-driven portfolio comparison gadget.

But there’s one no one’s talking about - except your friends here at Advisorist (we think).

Enter Daizy - AI for Advisors

Daizy is a plugin for ChatGPT.

Daizy solves the big problem with finance and AI – getting accurate, up-to-date market data.

Merge that with the power of ChatGPT, and boom – you can create accurate, well-written client communication in seconds.

The Catch 🎣

To unlock Daizy, you'll need a ChatGPT Plus membership ($20/month).

But trust me, it's a game-changer worth every penny.

Sneak Peek 🕵️

Curious? Here's a glimpse of how I had the AI whip up a client email about investing in Apple stock.

If you want to get started with the tool, head over to ChatGPT, set up a Plus account, and search the plugin store for Daizy.

Here are some prompt ideas to get the ball rolling.

• P: Write up a short social media post discussing recent TSLA performance.

• P: Write up a brief report on Boeing's ESG metrics.

• P: Create a marketing email for a webinar discussing the market's recent performance and the Fed's tightening.

Headline Roundup

🏠 Affecting Your Clients

• Gas prices soar, driving August inflation higher (PBS)

• Record home purchase cancellations on high rates (BBG)

• New SAVE plan could benefit millions with student loans (WSJ)

📈 Markets & Economy 

• Rates to stay steady, but Fed unlikely to say hikes done (BBG)

• Workers strike against three major carmakers (WSJ)

• Bitcoin sits around 26K, investors await impact of ETF (STRT)

💼 Industry Roundup

• Schwab, TD Advisory asset attrition due to merger (TA)

• $45 billion funding hike for IRS puts advisors, clients on alert (FP)

• Future Proof 2023, beachfront wealth conference, wraps up (FP)

🚀 Gas Prices Soaring? How to Fuel Client Investments

Gas prices jumped by about 10% in August.

That’s not great for our wallets, but here's the twist: This could be our golden ticket to showcase our worth to clients and prospects.

How can we use higher gas prices as a talking point? 💵

I want to shine a spotlight on one oil investment that’s often overlooked - master limited partnerships, or MLPs.

MLPs basically manage pipelines and infrastructure. Imagine them like highway toll booths, but for oil.

Why do clients love MLPs? 🌟

• Tax efficient – Like REITs, MLPs are designed to avoid corporate income tax

• High yield – Some MLPs boast dividend yields of 8%+

• Stable income – MLPs are required to pay out a big portion of their income to investors

A Word of Caution ⚠️

Directly diving into MLPs? Expect some weird tax paperwork.

That's why savvy investors often wrap their MLPs in ETFs, like AMLP or MLPX.

Here’s a quick, shareable LinkedIn post inviting prospects to learn more

Gas prices jumped more than 10% in August, and many families are feeling the pinch.

But if you’re feeling frustrated, there may be a way to profit from this trend and put more money back in your pocket.

Master limited partnerships (or MLPs) are a type of high-yield, tax-efficient investment that can benefit from higher oil prices.

As many investors look to energy companies, these specialized companies may represent an attractive opportunity.

Interested to learn more? I invite you to reach out to set up a time to discuss if MLPs are right for your portfolio.

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Team Up, Level Up: The Power of Joint Work 🤝💼

Ever had that feeling you're leaving money on the table?

If joint work isn't in your playbook, you might be.

Quick Dive 🏊

• What's Joint Work? Think of it as assembling a financial team. You partner with experts, offering clients a buffet of expertise.

• Revenue Boost. Some advisors are raking in an extra $80,000 - without having to handle any of the details.

• Client Perks. Clients love the savings or gains they get, while you maintain the relationship.

Solving joint work with Undeniable Advisors

Joint work is tricky since your network might not have enough subject matter experts.

One solution to that issue lies with Undeniable Advisors.

The Undeniable Advisor network is a team of experts that leverages each other’s skills.

Working with Undeniable Advisors ⚒️

The program is run by award-winning advisor Chris Gaddis, MBA.

Chris vets every new advisor to the program. Once approved, they receive access to a complimentary system to evaluate their book for deal flow.

Then their team will get on a call with you to examine your book and find hidden opportunities you can mine together.

Of course, you keep the relationship the entire time.

Want to find out how you can start generating an extra $2K - $50K+ a month - just for making an introduction?

Find out more in the Joint Work Secrets Playbook from Undeniable Advisors.

🐝Busy Bees: Unlocking Hidden Wealth

Here's a little secret: Both you and your clients are swamped.

And in the hustle and bustle, retirement accounts? They might be gathering dust rather than interest.

But here's the silver lining: There's a treasure trove of accounts waiting to be discovered.

All you have to do is spark the conversation.

The Win-Win 🏆

By helping clients streamline retirement accounts, you can help ensure their portfolios stay updated, all while gathering new assets.

Here's a copy-and-paste email script to kickstart the magic.

Hey [Client],

As the summer ends, I’m working with plenty of clients on organizing their financial lives.

That got me thinking – do you have any old 401(k)s or employee retirement accounts? If you do, we should chat about consolidating them into a single IRA.

This will help streamline your portfolio and ensure your investments are being positioned properly.

Even if we can’t consolidate, I’d love to review the allocation to make sure you’re set up for success.

Look forward to hearing back,

Warmly,

[Your Advisor]

The Best Thing I Saw All Week

In the town of Port Jefferson Station on Long Island, NY, a tiny voice cried out for help from the depths of a storm drain.

The faint mewing of the trapped kitten caught the attention of a passerby, who immediately called for assistance.

Strong Island Animal Rescue teamed up with the local police force to move a massive 5,000-pound concrete slab to help them reach the animal.

In a Facebook post, the foundation said using a hydraulic rescue tool called the “Jaws of Life” had a certain cinematic quality…

“The feeling we had while getting him out was similar to Raiders of the Lost Ark when they removed the slab from the well of the souls to get the ark!”

They added that the kitten, now named Lawrence, was taken to an animal hospital, where he’ll be ready for adoption in no time!

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.