04 Sep 2017

How Financial Advisors Become Thought Leaders

Via Forbes: How Financial Advisors Become Thought Leaders

A thought leader is a financial advisor whom prospects, clients, centers of influence, and even competitors recognize as a leading authority in selected areas and is able to significantly profit from being recognized as the expert. Without question, the benefits of being an industry thought leader are substantial from tremendously greater and more lucrative business opportunities to exceptional high-net-worth client retention.

A mountain of data definitively shows that becoming a thought leader has a multiplier effect resulting in your practice becoming significantly more successful. And, it’s important to recognize that just about any financial advisor can become more accomplished by becoming a thought leader.

According to John Bowen, founder of CEG Advantage, “The foundation of thought leadership is high-value content, which is information and insights you provide the wealthy that helps make them become wealthier or more successful or live a better life. It is also information and insights you provide other professionals such as accountants and attorneys who can refer their high-net-worth clients to financial advisors.”

With content being so critical to becoming a thought leader, there are basically two ways for financial advisors to be able to provide the requisite high-caliber information and insights. They can create the content, which entails developing the concepts as well as effectively packaging them. Content creation tends to be outside the areas of expertise for most financial advisors.

“A more viable approach for almost all financial advisors is to curate high-value content,” says Bowen. “Here, financial advisors are pulling together erudite opinions, viewpoints, and solutions that select audiences from the wealthy to other professionals will find very useful.”

In order to be a thought leader and garner a competitive advantage, financial advisors need to provide insights and information to your audiences on a fairly regular basis. A high degree of consistency is essential. For the great majority of financial advisors, the solution is to curate the information and insights, which may entail subscribing to information-based and professional development resources.