Your fancy client newsletter is a waste of time and money
By Michael Kaselnak
Too many client newsletters are beautiful trash. They are beautiful to look at but boring to read. Spending a pretty penny on a newsletter because it looks beautiful and professional is probably the biggest scam going in our industry today.
Tens of thousands of financial advisors send out fancy newsletters every month, only to have 80 percent plus thrown away without being read. What cracks me up about most newsletters today is that they have all sorts of financial information and techniques in them. It’s hilarious!
The very people that you would never want as a client are the 20 percent of prospects reading these financial newsletters. Think about it. If you were a doctor, how would you like your patient to read the Journal of the American Medical Association (JAMA) every month? Guess what kind of patient they are going to be? A pain in the rear.
It’s no different for advisors and their financial newsletters. The prospects and clients that read them will come in with all sorts of ideas and questions that have no pertinence in their particular situation.
The prospects and clients that you want are the ones that aren’t reading the financial newsletters because they are reading magazines about golfing, sailing, gardening, travel, knitting and any other sort of fun thing. Great prospects and clients don’t read financial newsletters because they feel that is what they hired you, their advisor, to do.
Guys and gals don’t be lured by a pretty, professional newsletter. You are better off sending a newspaper clipping, recipe or handwritten note.