Advice from a hiring manager for CFAs who want to freelance

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If you’re a CFA charterholder considering a switch to freelance writing, read on for advice from the perspective of the corporate manager who may hire you.  The manager asked to remain anonymous. Thank you, generous manager, you know who you are! 

1. What type of writing assignments best match the freelancer’s skills?  Is he or she a strong technical writer with a bent toward white-paper research, or does he/she lean toward less technical writing such as newsletters, brochure text, Web site communication? 

2. Does he/she have a strong background in either retail or institutional investment management?  I am frequently contacted by freelancers with good retail communication skills, who aren’t familiar with the more technical needs of our institutional audience.

3. What is a realistic client/workload?  Most freelance needs relate to quarter- or year-end crunches.  How will a writer fill the ‘tween time? And how many of those quarter cruncher assignments can he/she expect to fulfill? 

4. Does the writer have the most state-of-the-art communication systems at home/office?  He/she will be dealing with a variety of systems at the client level while on tight deadlines.  Incompatible systems can be a deal-killer. 

5. Is the writer’s style compatible with that of the client?  We ensure that our writers receive our internal newsletters, opinion pieces, Web updates to provide continuity of “voice” as well as keep them apprised of activities at the firm.

6. Corollary to point 5, a freelancer needs a strong point person at the client firm to ensure he/she receives attribution reports, performance numbers, background literature, etc. in a timely manner to complete the assignment.

7. Join a local business-writing association (or work through your CFA society!) to keep abreast of current freelancing rates and to learn of independent contractors who may be able to subcontract your skills. 

8.  NEVER MISS A DEADLINE!!   Deliver the written assignment with sufficient time for compliance, proofing, portfolio manager review, etc. at the client, before the material must go to print. We look for material one-two days before the “actual” deadline. 

This article complements an earlier list of tips by freelance writer Omar Bassal, CFA. Note that both Omar and this corporate manager stress the importance of making deadlines.

This website helps you with acronyms

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Puzzled by an acronym? 

Acronyms are abbreviations formed using the initial letters–or syllables–of a phrase.

The Acronym Finder will uncover the complete phrase that underlies the acronym.  Like “grantor retained annuity trust” for GRAT.


Boost readership of your e-newsletter with powerful subject lines

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More people will open your email newsletters if your subject line shows value in the first two words. That’s according to “4 Takeaways from MarketingSherpa’s Newsletter Subject-Line Analysis” (accessible only to MarketingSherpa members).

How do you show value? Start your e-newsletter subject lines with phrases such as:

  • Top Five
  • How to
  • Best Time

Your subject line should focus on the benefit that your content provides to readers. It’s especially powerful to indicate that you’re giving readers information they can act on.


Good wording: "Has the Market Wreaked Havoc on Your 401(k)?"

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Morningstar has a knack for good email subject lines. Like “Has the Market Wreaked Havoc on Your 401(k)?” That’s a line that many people can relate to.

Morningstar also achieves a nice conversational tone in its email, which starts out:

Yes, it feels awful right now. And it’s possible things could get worse before they get any better. But as unnerving as recent events have been, history has shown us that the economy will come back–and that means the market will, too.

This email was an advertisement for Morningstar Fund Family Reports. I’ll bet some folks signed up for trial subscriptions in response.

I made the Top Ten!

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Well, not me, exactly. My article, “Dan Fuss: The 50-Year Opportunity in Bonds,” made the list of Advisor Perspective‘s top ten most read articles for 2008. 

“Dan Fuss” commanded the #3 spot behind “Jeremy Siegel on Why Equities are ‘Dirt Cheap’” and “Our Interview with Mohamed el-Erian.”

It looks like legendary investors draw readers.

Compliance makes social networking tougher for registered reps than RIAs

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Here’s a guest post by Bill Winterberg, CFP®, an operations and efficiency guru to independent financial advisers, who blogs at FP Pad. He made me realize that RIAs have more leeway than registered reps when it comes to social networking.
Websites like Twitter, LinkedIn, and blogs present compliance issues for registered representatives subject to FINRA regulations. All reps must obtain approval from the broker/dealer compliance department before posting anything on the Internet, as postings a considered advertisements.

FINRA has published guidelines for use of the Internet by registered representatives of broker/dealers. It’s worth reading if you are affiliated with a broker/dealer.

The SEC has similar guidelines that govern advertisements, including postings to public Internet forums. However, investment advisers are generally responsible for self-supervision by Chief Compliance Officers. In my opinion, investment advisers not subject to FINRA regulations have quite a bit more flexibility when using Internet and social networking websites. See http://www.sec.gov/divisions/investment/advoverview.htm and http://www.sec.gov/info/iaicccoutreach.htm.

RIAs definitely have more flexibility over registered reps when it comes to the use of the Internet. However, common sense must always prevail when using the Internet to avoid publishing security recommendations or any testimonial, which are explicitly prohibited by the SEC and state regulatory authorities.


Top 10 tips for CFA charterholders considering freelance writing

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If you’re a CFA charterholder considering a freelance writing career, here’s advice from Omar Bassal, CFA. Omar is the head of asset management at NBK Capital, a freelance writer, and the author of Swing Trading for Dummies. 

I’m posting Omar’s article as part of my preparation for a panel on “Alternative Careers for CFA Charterholders” to be presented to the Boston Security Analysts Society on January 14, 2009.

Here’s Omar’s advice.


1. Choose your work carefully: Part of being a good writer is choosing the right businesses and people to work with. There are a lot of fly-by-night operations that want text to fill space. While they might pay the bills, they won’t further your professional development.

2. Get a proofreader: No one is perfect—not even CFA charterholders. Having a second pair of eyes before you submit your work is always smart. Find a reasonably priced person via Craigslist.

3. Know your audience: Be able to differentiate between unsophisticated audiences (where “standard deviation” is too technical a term to use), semi-sophisticated audiences (where “standard deviation” needs no further explanation) and sophisticated audiences (where “standard deviation” is an incomplete view of risk).

4. Get paid by work, not by hour: Firms will want to pay you by the hour. But you should push to be paid a flat rate for your work. This doesn’t always mean you’ll get more. But over time, you’ll be more efficient and productive as a result. Plus, you won’t need to keep tabs on every minute you’re working versus checking e-mail.

5. Seek contracts: Monthly and quarterly newsletters and reviews are an excellent way to get your hands on steady income.

6. Network with other writers: There are many fish in the sea and writing as a CFA charterholder doesn’t mean you’re taking away business from a fellow CFA charterholder. Sometimes clients will come to you with requests that you’re unwilling or unable to do. Being able to pass that work onto other contacts means your client feels his/her needs are being met by you. Do it often and others will return the favor.

7. A CFA charter does not mean you know everything: If you’re an expert in equities, you may find navigating fixed income waters tough. Make sure you thoroughly understand what you’re getting into before you agree to do a job.

8. Have a contract: Approach writing as you would any other business. Have a contract in place for every writing job which explains  your responsibilities, your contractor’s expectations, delivery schedules, terms of cancellation and prohibition of passing your work on to other parties. Besides protecting your interests, a contract will flash a signal that you’re a professional writer.

9. Seek out non-traditional clients: Realize that your easiest business may come from non-traditional clients. “Traditional clients” may be mutual funds, financial advisors and institutional asset management firms. Non-traditional clients include trade groups with pension plans, foundations, endowments and other less sought after institutions.

10. Punctuality is everything: Don’t view your text as the finish line for your contractor. Your work will likely be checked by senior staff or formatted for e-mailing or printing—all things based on firm schedules. Treat your work as a business. Being late means being unreliable—no matter how great the final text may be.

"3 Reasons Why Your White Papers Might Fail to Bring in New Business "

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Winton Churchill offered three “Reasons Why Your White Papers Might Fail to Bring in New Business” in a White Paper Source post that’s no longer online. But his reasons are still relevant.

I list his reasons below and give my take on how they apply to the investment business. 

  •  “#1. Preaching to the choir“: For example, if your white paper pitches municipal bonds to high-net-worth investors who’ve been getting professional advice, they probably already have munis in their portfolios. Maybe it’s time to seek out the newly wealthy or do-it-yourself investors.
  • “#2: Cradle to grave“: Don’t try to cover your topic from A to Z because you’ll lose your reader in a morass of details.  With munis, that might mean focusing on the potential tax benefit and relegating your caveats about AMT paper to a sidebar.
  • “#3: Company-focused instead of issue-focused“: As the author says, “Too many white papers boast.” Ironically, that’s a quick way to lose credibility. It’s far better to offer valuable information, then end with an enticement for your prospects to contact you.

Do white papers that make these three mistakes turn you off?


April 23, 2018: This post was updated because Churchill’s article is no longer available online.

Lesson from a headline, "A 30-Year Treasury Bond: Probably One of the Most Dangerous Investments You Could Make"

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“A 30-Year Treasury Bond:  Probably One of the Most Dangerous Investments You Could Make” is a great headline. It’s also a great topic.

Why? Because it challenges the average person’s idea of what’s a safe investment. Turning a common idea on its head will attract readers. In this case, it will also do them a service by explaining the downside of investing in 30-year Treasuries.

Kudos to RegentAtlantic Capital for an excellent headline and story idea for their recent press release.

"Narrow slice" article topics are better

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An article that covers a topic exhaustively can exhaust the reader. Writing about a narrow slice of that topic can be much more engaging.

This quote by New York Times health columnist Tara Parker-Pope, in Maura Casey’s “Tips, Tricks & Rewards of Writing Short,” makes a similar point:

“Kitchen sink stories do too much…. If you take on a big, unwieldy topic, you can wind up with a big, unwieldy story. Our writing improves when we try to do a little less, but do it better.” 

So, the next time you write about, for example, the bond market, don’t try to cover everything. Pick one slice that reflects an important development in that asset class.