Archive for the ‘Financial Planners’ Category

And I thought it was only women who felt boxed in. Today I visited with a Male Financial Advisor, after reading his brochure I still had no idea who he was.  His message was so generic he was almost invisible and then I learned that was his intention.

During my conversation with this young man I could see he was doing some good things but definitely not getting the results he needed for his business.  After further probing I learned so much more, he is an avid sports enthusiasts, running, biking, rowing, hiking, when he talked about this his whole being lit up, he showed me pictures, books it was obvious this was something he was truly passionate about.

I asked him why he wasn’t sharing this in his marketing and brochure?  And then I learned something new.  He told me that because he wasn’t the mainstream guy who liked to golf and smoke cigars he felt almost embarrassed about his life and passions. I don’t know how this came about but as a woman I totally understand.  I told him that hiding this part of him was making him invisible when in fact it was this part of him that truly made him different and different in a powerful way.

We started to talk further about his sports and passions and then we started talking about the process and discipline he incorporates to succeed in sports, we then transferred those same concepts to his business and he immediately got the connection.  It was a transformational 30 minutes.  All this time he was hiding the exact thing that would allow him to succeed.  I told him what he experienced was no different than what women experienced in this industry.

It’s time for women and the non-mainstream men to come out of hiding. Advisors are constantly looking for ways to differentiate themselves from the competition, odds are you don’t have to look far, just look within.

What is it about women that make us so masochistic, especially female financial advisors and other successful business women?  I woke up this morning really dragging, I felt it yesterday but just kept on going, and here it is today and I’m still feeling it.  The worst part was I wasn’t listening to my own advice.

I can’t tell you how often I am coaching female advisors about the importance of slowing down, and practicing self care. Most of these women (I include myself in this crowd) think slowing down is going to Hot Yoga (not exactly relaxing) or getting a pedicure while talking on the phone (not exactly the down time I was thinking about).  That’s not slowing down that’s just trying to fool our bodies in thinking we are rejuvenating.

The reality is some day’s life just catches up to you.  You know those days when you are just dragging, can’t find that boost of adrenaline that usually props you up all day.  You think “Why am I so tired, there must be a reason?” You reflect back on the past few days and because you can’t find a logical reason why you are tired you figure you will just work through until you start to feel better.

I did the same thing today until I had a BIG conversation with myself.  While I kept thinking about things I needed to do, wanted to get done my other brain the one that speaks from my soul said “Adri, your tired, stop doing and rest.” So for once I actually listened, I finished what I was doing and crawled back into bed in the MIDDLE of the day.

Later after resting I headed off to the movie theatre to watch a movie my husband would never want to see and eat a big bucket of popcorn that my husband would insist on sharing.  In fact after the movie in fact after the movie I went to one of our favorite restaurants and had a glass of wine all by myself, why?  Because I can.

Do something totally out of character this week, treat your self and let me know what you did, I’d LOVE to hear about it. Leave a comment below to share!

While I have spent years teaching both Male and Female Financial Advisors how to help women who have lost a spouse this month I experienced it for real.  My Dad, after 86 fabulous years died peacefully leaving behind a sizeable estate. My Dad was very proactive in planning for the future; his desire to avoid handing his hard earned money to Uncle Sam motivated him to take all the necessary steps to protect his and my Mothers wealth.  I suppose that is why it somewhat surprised me to see my Mom experiencing the same feelings that other women experience.

Will I have to go on a budget? This is typically the first and most pressing issue for most all women who lose a spouse.  Helping my Mom understand where her income would be coming from and how much income would be generated each month from her investments immediately gave her more confidence in her ability to maintain her lifestyle. Providing her with a simple monthly summary of income and expenses will help her become more comfortable with the numbers and more aware of what she can and can’t afford.  Becoming more aware is probably the most critical factor in becoming more confident.

Will I end up a Bag Lady? There is no doubt that my Mothers tolerance for risk differs greatly from my Dad.  Even my Brothers recognized the difference suggesting my Mom reduce her risk and focus on preservation and income.   While my Dad was all about growth, we want to make sure that my Mom NEVER runs out of money.  With newly established cost basis going to cash was a viable option while immediately reducing unnecessary risk until other options can be considered.

Keeping it Simple; Lastly we want to make it simple for my Mom to manage by consolidating accounts.  While my Dad was comfortable having accounts in multiple institutions, combining all my Moms assets with her advisor who treats her with respect and makes her feel comfortable is and continues to be an important factor.

While my father did a great job accumulating assets without long term care insurance his stay in an assisted living facility could have overtime put my mother’s financial future at risk.  Fortunately, given my Fathers acumen for building wealth my Mother was able to move him to a beautiful facility overlooking the Pacific Ocean making the move a more palatable process.  While his time remaining was short I quickly recognized the devastating impact our health can have on eating away a sizeable estate.

My Father left a great legacy, plan and prepare for the future so that you can life a wonderful life.

My client is Tweeting!! She is in a pilot program with her firm and they are testing the use of Twitter. My client is the only female advisor in the group and fell into the same old trap; trying to compete with the men on their turf.

My client was posting the same old tweets about the same old research reports voluntarily adding herself to the HUGE basin of traditional financial advisors. While being female automatically makes her different she is even more unique in her views and how she approaches her clients. So why was she diminishing her uniqueness because THAT is where the value of social media kicks in.

My client’s tweets will now be focused on the female investor. All of her tweets will be engaging and compelling statements that would attract and be of interest to women. While this is not her total market this has become her most productive niche when it comes to marketing. After doing some simple Google searche she immediately recognized that within this arena there was very little competition, an “Ah Ha” moment.

By limiting her tweets to one specific market not only does the task of finding articles and comments to tweet become more manageable but it also becomes more effective and productive. NOW she is truly leveraging her unique strengths as a woman to accomplish more as a financial advisor.

As an advisor who is looking to use social media as a way to gain more leads and exposure you have a decision to make:

Do I want to throw myself into the same pool as all the traditional advisors and hope that something I say is different and stands out? Or

Do I want to focus all of my marketing efforts on a unique niche allowing myself to dominate that arena and become known as the expert in that field.

It’s your call but I know what I would do……………