A great way for financial advisors to leverage existing content

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A blog can be a great way for financial advisors to leverage their inventory of compliance-approved articles. That’s according to my interview with Stuart Zimmerman, principal, and Jim Cornfeld, investment advisor, The Buckingham Family of Financial Services. However, it’s too early to tell if the blog will yield financial benefits.

Cornfeld started The Educated Investor blog in February, after the Financial Executives Networking Group (FENG) St. Louis offered to host blogs for its members on its website. “The group is a good demographic for us. It fits one of our niches: corporate executives,” he said.

The firm’s additional goals for the blog include:

  1. Serving as an easy place to refer clients and prospects for useful, educational articles
  2. Potentially attracting new business from web surfers who find it through online searches

Zimmerman said the blog is already handy for achieving goal number one. However, “We haven’t received any calls from prospects saying ‘We saw your blog.’ ” On the other hand, some of their articles, such as their interview with Harvard’s David Laibson and an article on geographic diversification of muni bond investing, have ranked highly in Google’s Blog Search.

Financial advisors who want to blog face two challenges: 1) compliance; 2) content generation. Buckingham may be better positioned than your typical investment advisor. Their business model includes generating a good many compliance-approved articles for use in their newsletter and for use by the 116 RIA firms that use their back office services for passive investing. “We already invested time writing these articles for other purposes,” said Cornfeld.

Another strategy that Buckingham uses to manage compliance issues: It doesn’t allow comments on its blog posts. If Buckingham wanted to reply to reader comments, it would have to run its responses through Compliance.

Talking with Cornfeld and Zimmerman got me thinking about “The Real ROI of Blogging,” an article on MarketingProfs’ Daily Fix blog. Blogger Lewis Green measures the ROI on his blog not just in terms of profits, revenue or new business leads and referrals. He also considers the blog’s impact in terms of getting his firm noticed and improving his customers’ experience and loyalty. Financial advisors should also consider these benefits.

"Tool: Google Trends"

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Google Trends will help you figure out which of your key words are searched most frequently.

Learn more in “Tool: Google Trends” on Erik Sherman’s Writer Biz blog.

Advice from the SEC’s expert on plain English

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The SEC has tapped William Lutz to lead its “21st Century Disclosure Initiative.”

In honor of his appointment, here’s his “Rules for Writing Plain English: How You Can Write Plain Language by Just Following These 39 Steps” (2018 update: sorry, but his article is no longer available on the website of the Plain Language Association International).

Writing plain English isn’t as easy as the title suggests.

For example, Step 5 is “Keep equivalent items parallel.” Even if you understand what that means, I’ll bet that many people don’t. The article offers a good example of parallel structure. Each of the 39 steps begins with a verb in the same tense. Each uses an imperative verb–a verb that commands you to do something. Parallelism can involve more than just tense, as you’ll see in the Online Writing Lab’s explanation of parallel structures. Using parallel structure in lists makes it easier for your readers to understand you.

Generally, “less is more” applies to writing. But sometimes deleting words can land you in trouble. Lutz gives a good example of that with the “whiz-deletion” he describes at the bottom of his article.

E-mail tips from Seth Godin

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The email checklist at Seth Godin’s blog starts out with some good tips on slimming your email distribution list.

I also liked his suggestion of asking whether your email is important enough that you’d spend the price of a postage stamp on it.

I’m glad that Erika Dreifus’ Practicing Writing blog sent me to this post.

Your website’s "About Us" page could make the sale

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The company information in your website’s “About Us” page could make the difference between winning or losing a new client.

“Although it might not solely make a purchase, a bad ‘About Us’ page can definitely stop a purchase from happening,” according to “Why You Must Pay More Attention to Your ‘About Us’ Page” on the MarketingSherpa website.

Keep your “About Us” page up-to-date and filled with information that will convince your prospects’ executives of your firm’s reliability, advises MarketingSherpa.

"Lazy Bastards: How We Read Online"

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“Lazy Bastards: How We Read Online,” Michael Agger’s article on Slate.com, gives some good tips for grabbing your online readers’ attention. He reinforces points I often make, including the value of using:

  • White space
  • Bullet points
  • Informative subheadings

Agger also sends you over to “Long vs. Short Articles as Content Strategy” by website usability guru Jakob Nielsen. Short articles beat long articles most of the time, says Nielsen, especially if you want to maximize your readership numbers.

On the other hand—and this is important for financial advisors—if you want people who really need a solution, focus on comprehensive coverage. This is a good strategy if you sell highly targeted solutions to complicated problems.

Still, in Nielsen’s example, “short” is defined as 700 words and “long” as 1,000 words. One thousand words isn’t long compared to some pieces that I’ve seen.

For a competing opinions on going longer or shorter, read my post, “What’s too long for a blog post?“

Note: I updated this post on Jan. 23, 2017.

 

 

 

 

P&I picks best financial blogs

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According to the staff at Pensions & Investments magazine, the top three financial blogs are:

  1. The Big Picture
  2. DealBreaker
  3. Infectious Greed

That’s according to to “Pensions & Investments’ Best Blogs and how they got that way,” which also lists some other top blogs.

But blogs get mixed reviews from P&I’s audience. “Turns out some tout the virtues of having fresh and sometimes entertaining voices and unique perspectives not found in typical Wall Street research, while others eschew blogs as unnecessary,” reported Drew Carter in “Ranking the blogs.”

What do you think? Are blogs useful to you?

Should you hyphenate “fixed income”?

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It depends.

There are two schools of thoughts about whether to hyphenate compound adjectives, which is what “fixed income” becomes when you use it as an adjective. It’s the reader-friendly approach vs. common usage.

Reader-friendly

Let’s talk about “fixed income investing.” When you combine an adjective and noun and then use them to describe a second noun, you’re creating a compound adjective.

You’re also making it more difficult for your readers to interpret your text. They’re used to thinking of “income” as a noun, so they may struggle for a moment before they realize that “fixed income” serves as an adjective in “fixed income investing.” Following this line of thought, it’s kinder to your reader to write “fixed-income investing.”

Common usage

Opponents of writing “fixed-income investing” say “fixed income” is so commonly used as an adjective that a hyphen is unnecessary.

Your decision

Grammar Girl says that you should always consider whether a hyphen changes your meaning. As she points out:

  • A hot-water bottle is a bottle for holding hot water.
  • A hot water bottle is a water bottle that is hot.


The Wall Street Journal uses a hyphen when fixed-income is an adjective.

What’s your decision? Is it fixed-income investing or fixed income investing?

Whichever approach you adopt, be consistent in your usage. That will help your readers know what to expect.

Image courtesy of iosphere at FreeDigitalPhotos.net.

"Making Money Where Others Fail": Morningstar’s knack for good titles

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Who wouldn’t want to read an article entitled “Making Money Where Others Fail“?

That was the title of a recent message from Morningstar’s Fund Spy e-newsletter. I subscribe to Fund Spy partly to study their writing style. You can check out the Fund Spy archive.

"Pension Plans Say Thank You Subprime for Return to Overfunded "

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The subprime crisis has an unexpected silver lining.

The resulting demand for high quality corporate bonds has improved the funding status of corporate pension plans. “The combined pensions of S&P 500 companies swung to a $63 billion surplus in 2007 after five years in the red, according to a May 19 report by Standard & Poor’s,” says Miles Weiss in “Pension Plans Say Thank You Subprime for Return to Overfunded. ”

By the way, this news article suggests a technique you can apply to your investment commentary. Write about an unexpected implication of a widely discussed phenomenon.