Financial advisor poll: How do you sign your business emails?

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Email communications with clients, prospects, and referral sources are an essential part of  your private wealth management or investment business. Handle them well, and you deepen your relationships. In How to Instantly Connect with Anyone, author Leil Lowndes suggests an email closing technique that may boost your effectiveness.

Even something as small as your email signature sends a message to your clients, prospects, and referral sources. You set a different tone when you end with “Sincerely, Jane Advisor, CFP, CFA, Senior Vice President” instead of “See you soon, Jane.” 

Lowndes suggests that you forego traditional closings in favor of ending your email with your recipient’s name. For example, “Thanks so much for your help, Samantha” when Samantha is the person you’re emailing.

According to Lowndes’ approach, you can get away with just your first name or initials–or even nothing at all–after such a line. “Hearing their own name unexpectedly as the last word of your message makes them feel an instant connection with you,” she says.

I like Lowndes’ idea. But only in moderation. If you close every email like this, the technique will lose its impact.

The rest of the time, you’ve got an array of more traditional closings to choose from. You need to strike the right balance between formality and warmth. This may mean using different signatures for different clients, depending on  your relationship with them. Signatures may also vary by occasion.

Please answer the poll in the right-hand column of this blog about which of the following closings you use most often. 

  • Best wishes
  • Bye 
  • Cheers
  • Have a great day/weekend
  • Kind regards
  • Sincerely
  • Sincerely yours
  • Thank you
  • Warmly
  • Yours truly
  • –None of the above

I’ll report on the results in my June e-newsletter.

By the way, in these days of blogging transparency, I’m disclosing that I got Lowndes’ book for free. I won it in a Twitter contest when I was the first to reply to a tweet by the publisher.


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Copyright 2010 by Susan B. Weiner All rights reserved

Your customers, your inspiration

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“Customer comments can contain pure gold. Many of my most in-demand services came about from a suggestion made by someone who wanted to do business with me.”

What suggestions have your clients made to you? Have they suggested new services? Different ways to deliver your services?  Listen to what they say. You may discover a new way to build your business.

Marcia’s tip has worked for me. An out-of-state client asked if I delivered writing workshops virtually, rather than in person. Her question eventually spawned my first teleclass.
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Copyright 2010 by Susan B. Weiner All rights reserved

Whoa, insurance = spam?

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Insurance can get your email tagged as spam. I never would have guessed.

I saw the following message after I ran one of my e-newsletters through a spam checker.

It looks like there are some words in this email that might send your email to a Spam folder. To make sure your email is delivered successfully, we recommend going back to change or remove the following words: insurance.



Perhaps this happened because there are too many spammer pushing shady insurance schemes.

Fortunately one iffy word isn’t enough to keep your email out of most in-boxes. Look at your overall spam rating before you panic. If it’s low, like the typical rating on my e-newsletters, you should be okay. 

The “open” and “bounce” rates for my e-newsletter mentioning “insurance” were no worse than usual. However, “insurance” was the newsletter’s only element tagged as potential spam.

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Copyright 2010 by Susan B. Weiner All rights reserved

Treasurys vs. Treasuries — Which is the right spelling?

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What’s the right way to spell the plural of Treasury, as in U.S. Treasury bond?

Should it be “Treasurys,” following the rule that the members of the Murphy family become Murphys? Or should it follow the normal rules of creating plurals for words that end in the letter y?

I panicked when I saw “Treasurys” in The Wall Street Journal. Eek! Have I been spelling the word wrong for 20-odd years?

However, I quickly discovered that opinions are split. When I Googled the terms, there were 2.2 million results for Treasuries vs. only 1.5 million for Treasurys. 

The evidence for Treasuries
Here’s the rule that would typically apply. “…if a word ends in a -y that isn’t preceded by a vowel, the plural is formed by omitting the -y and substituting -ies…,” according to Garner’s Modern American Usage. Garner makes an exception for proper names ending in y. He agrees that Murphy becomes Murphys.

Does Treasury qualify as a proper name? Proper names are usually personal names–such as Murphy–or geographic names–such as Washington, D.C. Following this reasoning, Treasuries makes sense.

My friend, financial editor Harriett Magee, found that sources including the Barron’s Dictionary of Finance and Investment Terms agreed with Treasuries. Plus, her spell-checker flagged Treasurys as a mistake. 

If you prefer Treasurys…
You’ve got some high-powered company if you stick with Treasurys. When The Wall Street Journal spells it that way, that legitimizes it in my eyes.

If you can’t bear not knowing what’s 100% correct, then use the workaround that Harriett Magee suggests. Refer to Treasury bonds, Treasury notes, and so on. It’s bit wordy, but correct. 

Follow this advice, no matter what you decide
It’s important to use your words consistently in your corporate communications. Pick one spelling and stick with it. 

Consider creating a corporate style guide that lists preferred spellings. It’s a lot easier to have an authoritative source for your company than to try to keep the rules in your head.

My thanks go to David Glen, senior vice president at Boston Private Bank, for raising this question.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net.

How to guest-blog on personal finance or investments, Part II: Blogs that accept guest posts from financial advisors

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Guest posts can launch investment and wealth managers into the blogosphere. This follow-up to “How to guest-blog on personal finance or investments, Part I” gives you names of blogs to target for guest posts.

It has been 10 years since I originally posted this list, so I recently reviewed it to update links and to comment on blogs that no longer accept guest posts.

Investment blogs that accept guest posts

The granddaddy of investing blogs is Seeking Alpha, which you can join as a contributor. Its website says “Over 17,000 people have contributed articles over the years. These include individual and institutional investors, fund managers, analysts, college students, retirees, and all those who enjoy sharing investment insights and ideas with our community.”

Advisor Perspectives isn’t a blog. But it publishes similar content. Its submission guidelines say it publishes

…market commentaries submitted to us by participating fund companies, independent research firms and advisors. Selected commentaries are promoted to subscribers of our daily Research Perspectives newsletter.…We offer two levels of service: our free Basic Commentaries, and our paid Featured Firm Commentaries.

Disclosure: I have occasionally written for Advisor Perspectives.

Enterprising Investor, the blog of the CFA Institute, accepts guest posts from non-members, as well as from CFA charterholders, according to its Contributor FAQs.  Posts should run 600 to 1200 words and be aimed at investment professionals.

Personal finance blogs that accept guest posts

Wise Bread, which reports receiving 1.8 million page Clarifinancial tweetviews monthly, discusses why and how to apply to be a guest blogger on its “Write for ­­­Wise Bread” page. Thanks to Aaron Pinkston of Clarifinancial for bringing this site to my attention.

Jeff Rose of Good Financial Cents likes Wise Bread, too. He also shared the names of Jeff Rose TWEETadditional blogs where he has been a guest. However, as of April 2020, Get Rich Slowly, Consumerism Commentary, and Cash Money Life no longer accept unsolicited guest posts.

Here’s a personal finance blog that still accepts guest posts:

Other blogs worth targeting

Your business niche may also have blogs that will accept your posts and help you educate your target audience.

Through my work with fiduciary advisors, I’ve become familiar with the fi360 blog. The firm told me in April 2010 that guest posts may be possible. However, “I should say that we’d want exclusive content from a guest blogger. We’d rather just link if it’s on their blog as well.” When I followed up in 2016, @fi360 tweeted “We are always interested in guest bloggers. Please feel free to send any posts to fi360@fi360.com.” Here’s a sample guest post, “Good Insurance Decisions Require Appropriate Information.”

FI360 tweets

Interested in getting read by your colleagues? Michael Kitces’ Nerds Eye View has a knack for attracting attention among practitioners. In a June 2011 email, he told me, “My guest blogging posts are not by invitation only. I am open to people contacting me with ideas. However, as you’ve probably noticed, I do have a certain edge and focus to the types of posts I put up, so I am looking for content that is consistent.” Since we originally spoke, Michael has published guest post guidelines.

The Slott Report is open to guest posts. “We already have over 500 articles on IRA, tax and retirement distribution planning on our site. We also accept posts on Social Security and Medicare planning. We don’t post investment related posts, but more on the planning and distribution side,” said The Slott Report’s Jason Trexler when we traded emails in 2016. “All guest posts are allowed a 50-word brief professional/company bio and URL hyperlink at the bottom of the article..” Here’s a sample guest post: “Avoid This Trap When Using a Roth IRA to Pay For College.” Read “Become a guest contributor.”

Another potential target: your local newspaper’s blog. Its reach may be small, but it could yield some great prospects close to your office.

What else?

Have I missed any great tips for guesting between this post and my earlier post on this topic? Please chime in. I’d like to learn from you.

 

Post updated on June 3, 2013; Feb., 8, 2016; and April 24, 2020.

How to guest-blog on personal finance or investments, Part I: Your approach

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Some financial advisors wonder if they can crank out a steady flow of compelling blog posts week after week. Before you make the commitment, consider testing your abilities by writing for other people’s personal finance or investment blogs.

Some blogs publish their submission guidelines, so you know exactly how to apply to be a guest blogger. Others don’t. But there’s a simple process you can follow to propose a guest role.

Step 1. Study the blog to figure out its audience and topical focus.

Step 2. Come up with a topic. Your description of your topic should identify the main point you’re trying to make and why readers will care about it. In “How to Write Blog Posts People Will Read: A 5-Week Teleclass for Financial Advisors,” you’ll get help developing a strong topic.

Step 3. Email the blogger to suggest a guest post. A strong proposal will include the following:

     a. Your understanding of the host blogger’s audience and focus

     b. Your topic and why it will appeal to the blog’s audience

     c. A brief bio to establish your credibility

    d. Your contact information

It isn’t necessary to send your completed blog post right away. In fact, I think it’s better not to send it unless requested by the blog’s owner submission guidelines.

A proposal lets the blog owner give you suggestions about how to adapt your idea to their needs. If you enroll in “How to Write Blog Posts People Will Read: A 5-Week Teleclass for Financial Advisors,” you’ll get my personalized feedback on your draft inquiry for guest blogging.

Financial advisors, you will get names of blogs that accept investment and personal finance guest posts in Part II of “How to guest-blog on personal finance or investments.”

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This post was updated on June 11, 2011, and April 26, 2020.

 

Which blogging platform should I use?

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If you’re not yet blogging, you’re probably wondering which blogging platform to use.

WordPress seems the most popular. If I were starting my blog today, I’d probably go with WordPress rather than Blogger. I’m no expert on blogging platforms, so you’ll find below some opinions from folks who know more than me.

Technology specialist Bill Winterberg told me via Twitter that he prefers WordPress “because if you need new functions, there’s likely a plugin available. Support and forums are comprehensive, too.” Speaking of plugins, Bill told me about Akismet, a spam-blocking plug-in that’s available for WordPress, but not Blogger. By the way, as I understand it, a plug-in is software that expands the capabilities of a larger piece of software–but don’t quote me on that.

The Tech for Luddites blog, written by my friend Elizabeth Kricfalusi, compares Blogger vs. TypePad vs. WordPress in “Picking a Platform for Your Blog.” She also favors WordPress. If you’re a non-technical person with computer questions, you may enjoy her blog, with its motto, “Increase Proficiency. Decrease Profanity.” 

For a blogging platform comparison from another source, check out the “Blogger vs. WordPress Comparison Table 2010.”

WordPress was also the choice of the financial advisors who took my recent class on “How to Write Blog Posts People Will Read” (next session starts April 22).
 
I’d be happy to get comments on this post from those of you who are more knowledgeable about blogging platforms.
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Copyright 2010 by Susan B. Weiner All rights reserved

Guest post: Five Tips for Delivering Bad News to Clients

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Everyone struggles with delivering bad news to clients–and financial advisors have had to deliver plenty of bad news over the past couple years. 

That’s why I felt excited when I discovered that Kathleen Burns Kingsbury, the author of this guest post, can help advisors manage difficult communications with clients.

Five Tips for Delivering Bad News to Clients
By Kathleen Burns Kingsbury, LMHC, CPCC

Delivering bad news to your clients is not easy. It often stirs up uncomfortable emotions–for clients and for you. Learning how to deliver troubling news effectively in conversation and in writing newsletters is the key to maintaining good relationships with your clients in good times and bad. 

Here are five tips for delivering bad news more successfully: 

1. Sandwich the bad news. Use the following analogy to guide you. Think of bad news as the meat in a sandwich that’s surrounded by two pieces of bread and some dressing to make it taste better. Start the conversation with thoughts or facts about what is working in the markets, your company or  the client’s portfolio. Then share the bad news or the meat of the issue. Last, end the dialogue on a positive note. Clients are human. We all find difficult news more palatable when surrounded by some good delicious information.

2. Be direct. Advisors and wealth managers have a tendency to talk too much when sharing bad news with clients. This is often because being the messenger makes you feel uncomfortable emotions, such as anxiety, fear or worry. Talking more may help you feel better, but it confuses the client. So fight the urge to over-verbalize. Just be direct with the client about what is not going well.

3. Make the client feel his/her reaction is normal. A client will experience feelings after hearing bad news about their financial investments. Don’t fight this by trying to convince the client or yourself that there is no reason to feel bad. Instead, take a deep breath and validate that this news is hard to hear and hard to give, so the situation is emotionally difficult. It is surprising how validating a client’s feelings calms them down and strengthens the advisor-client relationship in the long run.

4. Don’t personalize the client’s reaction. Many well-meaning advisors feel overly responsible for the pain caused by the current economy.  It is okay, and even advisable, to have your own feelings, about the ups and downs in the market place. Just make sure you are not trying to control what is out of your control and taking on too much responsibility. Practice accepting your feelings and your client’s reactions without judgment. Only take responsibility for what is truly in your control.

5. Get support. The best way to survive the current economy is to get support from your friends, family and colleagues. Your job is challenging. You need a place to talk, vent and share your frustrations with others. Model this for your clients because this is a great lesson for all of us to learn. Sharing difficult news is never easy, but it is a little more tolerable when you are not alone.

Kathleen is founder and CEO of KBK Wealth Connection, a company passionate about helping financial services professionals and their clients master their money mindset through wealth psychology. She recently released a new audio program called Creating Wealth from the Inside Out.
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Copyright 2010 by Susan B. Weiner All rights reserved

Poll: Would you hire a ghost blogger for your company?

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Investment and wealth managers have great skills. But writing isn’t necessarily one of them. So what’s a financial professional to do now that blogging is an important part of marketing?

Some companies hire ghostwriters to write their blog posts for them. Ghostblogging can encompass everything from coming up with the ideas, doing the research, writing, formatting posts, and even responding to comments in the voice of the company. Or it can involve a much bigger contribution from the client whose name goes on the post.

Critics say that hiring a ghostblogger is bad. In “The Ghost Speaks,” writer Michael Janofsky quotes communications consultant Shel Holtz, “I’m a huge fan of transparency. My advice to executives is: If you don’t take the time to write yourself, find another channel of communication.”

What do YOU think? Please answer the poll that will run in the  right-hand column of this blog until I replace it with next month’s poll. I’ll report on the results in my May e-newsletter.
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Sign up for the next session of “How to Write Blog Posts People Will Read: A Five-Week Teleclass for Financial Advisors” starting April 22 or join the mailing list for my free monthly newsletter.
Copyright 2010 by Susan B. Weiner All rights reserved

The power of analogy: U2 and alternative investments

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What could the band U2 and hedge fund-style investing have in common? 

This unlikely combination came up in a March 15 presentation to the Boston Security Analysts Society by Robert Kaimowitz, CEO and portfolio manager, Bull Path Capital Management.  

Kaimowitz asked the audience, “How many of you think U2 is an alternative band?” No hands went up. The band is mainstream now. Yet it was considered an alternative band when it first emerged.

So-called “alternative investments” will follow a similar path, suggested Kaimowitz. They’re new and poorly understood, so they’re considered “alternative.” That will change as they become accepted. He figures alternatives will become mainstream partly because a long-only fund can’t be conservative because it’s 100% exposed to the market.

Kaimowitz’ comments about U2 and alternative investments demonstrate the power of analogy. They stuck with me long after the details of his fund’s performance faded.

If you’re trying to convince your clients to adopt alternative investments, consider trying this U2 analogy on them. I’d like to hear if it works for you.