Back
Free Site registration

Sign up today and gain full instant access to member-only content

  • Earn CE Credits

  • Access our Discussion Boards

  • E-Newsletters - Retirement Planning, Wealth Advisor

  • Attend Coaching Sessions and Web Seminars, Podcasts and more

BLOGSThe Prosperous Advisor

A (Free) Timely Letter to Send Your Clients

By Steve Sanduski
March 9, 2011
¦
Advertisement

The financial advisor’s equivalent of the real estate agent’s “location, location, location” mantra is “communication, communication, communication.” Given the events in the Middle East, you have a perfect opportunity to communicate with your clients, deepen your relationship with them and position yourself as a thought leader with the investing public through a timely, well-written update letter.

I’ll make it easy for you by writing a timely letter about the Middle East situation and giving it to you for free. But first, I want to walk you through the anatomy of an update letter so you can use the template for your future letters.

To begin, what’s the objective of the letter? In this case, the objective is to let your clients know that you are on top of the Middle East situation, that you’re monitoring how it may affect their portfolio and that you are a proactive, engaged advisor.

Once you know the objective, write a great title.

Michael Hyatt says, “Great titles are PINC (pronounced “pink”). They do at least one of the following: make a promise, create intrigue, identify a need, or simply state the content.”  

Here’s the title of your free letter: How the Three-Act Drama Unfolding in the Middle East May Affect Your Money

This title hits two of the four points; it creates intrigue (three-act drama, Middle East, my money—I want to know more) and identifies a need (I need to know how problems in the Middle East might affect my pocketbook).

After the title, you need a strong first paragraph to secure the reader’s attention.

After 30 years in power, it took only 18 days to topple Egyptian President Hosni Mubarak. He capitulated to the demands of the protesters and resigned as President. The quick toppling has led to a domino effect and instability throughout the region. What does this mean for you and your money?

This paragraph sets the stage for what’s to come and ends with a question. The question essentially invites the reader to keep reading because they know you’ll answer the question by the end of the letter.

As we get to the middle of the letter, we need to tie in the three-act play, which I’m using as the “lens” to put the Middle East situation in context.

Since the glory days of ancient Greece, we’ve had the three-act play. You know how it goes. Act I sets the stage, introduces the characters and identifies the main problem. Act II is the most important act because the main problem becomes much more dangerous and difficult and the protagonist of the story looks like they will lose. Act II usually ends on an emotionally-charged cliffhanger so you’ll be compelled to come back from intermission. Act III pulls it all together and the story wraps up with the protagonist (usually) winning and everybody (usually) living happily ever after. Ah, if only real life was so neat and tidy!

 

Skipping ahead in the letter, I describe two potential outcomes.

While it’s too early to know the outcome of Act II or Act III, it may make sense to look at two potential extreme outcomes. These bookends give us a sense for a possible worst case and best case.

Extreme Outcome One

On the negative side, if the Middle East erupts into a fiery ball of flames, it could be a serious problem for the world. The Middle East can be a powder keg and with its strategic importance in the oil market, any disruption there could send the world economy into a tailspin. Multiple countries are experiencing unrest among their people so the call for reform in the region is strong and certainly not over yet.

Extreme Outcome Two

On the positive side, the changes occurring in the Middle East could usher in a new era of democratic reforms that lead to faster economic growth and rising stock prices. Remember the fall of Eastern Europe’s Soviet satellite states and the toppling of the Berlin Wall in 1989? The decade that followed was a strong one for worldwide economic growth and stock prices. If the fall of Eastern Europe is a blueprint, then there could be some rocky, but survivable times ahead followed by a long period of growth.

Page 1 of 2.

Blog Archive

What Type of Advisor Are You?

There are two types of independent financial advisors: the income statement entrepreneur and the balance sheet entrepreneur. Steve Sanduski asks: which one are you and why?

What It Takes To Be a Champion: Lessons for Advisors

Steve Sanduski, The Prosperous Advisor, says that advisors who want to reach the pinnacle of their profession need to make sure the “under the hood” of their office is as excellent as the shiny exterior their clients see.

The Little Secret That Could Be Killing Your Business

Steve Sanduski, The Prosperous Advisor, says advisors who fall victim to confirmation bias could be doing themselves and their clients a great disservice.

How to Break Out of a Production Plateau

Steve Sanduski, The Prosperous Advisor, offers up five suggestions for financial advisors who have successfully grown their business for years but now find themselves stuck and unable to achieve the level of success they truly desire.

Stuck in a Rut? Five Ways Advisors Can Get Their Groove Back

Steve Sanduski, The Prosperous Advisor, says too many advisors are stuck in a pattern that’s keeping them from making new connections and reaching their full potential. Here are five tips to help break that cycle.

Tips For CEOs Who Want to Take Their Advisory Firms to the Next Level

Steve Sanduski, The Prosperous Advisor, offers up advice for fast-growing firms experiencing “big company” issues that can either derail their practices or, if handled properly, start them on a new growth curve.

Do You Have the Right 'Why?'

Steve Sanduski, the Prosperous Advisor, says it’s important for financial advisors who want to succeed to understand the “why” behind each of their goals. They also must ask themselves if they’re setting these goals for the right reasons and whether they’re in the best interests of their clients.

Are You Galloping Toward Greatness or Standing Still?

Typically, it takes a storm to disengage the autopilot and force advisors into making positive changes in their life. But Steve Sanduski, the Prosperous Advisor, says it’s important for financial advisors to be proactive about improving their lives and their practice before it’s too late.

Simple Power Phrases That Turn Prospects Into Clients

Steve Sanduski, the Prosperous Advisor, says advisors should use the English language in inspirational ways to motivate prospects and get them off the fence to become a client. He’s not talking about slick manipulation but about choosing your words carefully so you succinctly impart your message and create a positive feeling and mental picture in your prospect’s mind.

China’s Impact on the World Stage – Part III

From the 1960s to the 1980s, Japan was on a roll. They had one of the highest economic growth rates in the world. Their manufacturing prowess grew to be the envy of the world. Their stock market soared 373 percent between 1980 and its peak in 1989. And, like China today, there were predictions that Japan would overtake the United States as the largest economy in the world. But, as The Prosperous Advisor Steve Sanduski points out, times sure have changed.

China’s Impact on the World Stage -- Part II

In Part Two of this series on China, I’ll look at the massive build out within China and see if this fixed investment boom is sustainable. If the building boom ends, it could cause a worldwide economic slowdown.

China’s Impact on the World Stage -- Part I

I’d like to share with you some personal observations about what’s happening in China based on my recent visit to Beijing, Xi’an, Shanghai and Hong Kong. While there as a tourist, I made a point of talking to the locals and keeping my eyes and ears open for anything that would help me figure out whether this Chinese growth story will save the world economy or whether it’s a bubble ready to burst.

Turn Your Knowing Into Doing and Get Results Part 2

The key is turning that overriding motivation into actual results in the real world.

Turn Your Knowing Into Doing and Get Results

Here’s a sad truth—you can spend your days absorbing knowledge and becoming very intelligent, but if you don’t do anything with that knowledge, you’re no better off than somebody else who sat around eating popcorn and watching reruns of Fantasy Island.

Is Success as Simple as Copying What Other Successful People Do?

Forget reinventing the wheel. Just copy what other top producers are doing. Better yet, hire a coach who has already identified those “best practices” and then pay them a fee to share the ideas and hold you accountable for implementing them. Is that really the key to success as an advisor?

How NOT to Treat Your Staff

if you want to get the most out of your staff and in turn increase the growth trajectory of your business, you would be wise to view them as essential to your success.

How to Talk to Clients About the Japanese “Black Swan” Event

When you talk to the public about the Japan situation, begin by recognizing this is first and foremost a human tragedy.

Three Characteristics of Top Producers That Generate Million-Dollar Results

In the past 11 years, we’ve had two major bear markets and experienced the near collapse of the world financial system. Not surprisingly, many advisors lost revenue, lost clients and some even lost confidence in their ability to protect their clients’ assets during times of turmoil. Yet during this 11-year period of global upheaval, a select group of advisors prospered.

Related Articles

Most Read

Most Emailed