Related Posts
Coach
Best study guide for CFP?
More Posts
ACD writers, how hands-on are your works?
BOA Planning for permanent WFH ?? Is that true??
Pro
Pro
Anyone else on the bench now?
Additional Posts in Financial Advisors
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Haha I’m gonna let you in on a little secret, you aren’t different from the other hundreds of CFPs offering exactly that, the only thing that will make you any better than them is if you can actually talk to clients in a way that they will understand. The only thing that will differentiate you even more than that is how well you market yourself. Far too many advisors put so much emphasis in their credentials and their study of portfolio management when if they really wanted to make more money they should focus on getting better at marketing themselves.
@FA1 sounds like don Connelly and I agree 100%
Haha literally had no idea who that was just had to look him up. But yeah I mean realistically the only thing that differentiates us in the clients eyes is if they actually can understand what we are talking about and if we actually manage to position ourselves as someone they would be lucky to do business with/get to become a client of. I have managed to do both of these with no extra letters after my name, which is not to say I don’t value them and in fact I will most likely sit for CFP in the next year as I’ve passed all prerequisites. I’m just saying it simply means nothing in terms of how successful an advisor becomes.
You distinguish yourself by caring about your client...
I wish I had started listening to him years ago. He is great! Wall Street is very complicated and it is are job to make it simple. “ I don’t get paid on what I know or what credentials I have , I get paid on how well I communicate “
Spend a few bucks and buy his cd’s or download them.
When I read your post, it seriously sounded like him.
That’s funny I will, yeah I got lucky in that the managing partner of our firm is hands down probably one of the best marketers I’ve seen in our industry and is a genius when it comes to communicating ideas to clients in easy to understand ways. I got very lucky very early on in my career to be able to soak up everything like a sponge and put my own twist on it.
OP, I’m going to be blunt, but please don’t take offense.
Truth is, you are different. You aren’t special. It’s not your fault, but you aren’t. You described yourself as any other advisor. The CFP is supposed to be a wholistic planner. Dealing with estate, taxes, life insurance, and such. But if you are at a wire house, you don’t do that. Again, it’s not your fault. I imagine that you got the designation to be more than just an “advisor” (there is nothing wrong with being a portfolio manager, which it sounds like you are). Go back to that spirit. How many of your clients have a complete financial plan that you review annually? My guess is not many (only because I’ve worked at wire houses). Do that, and you will certainly distinguish yourself from not only your peers at ML but also your local group of industry people outside your firm too.
You aren’t different*
Focus on the areas you like most and those answers will come.
What President 1 said 👆👆