On the Investment Writing blog during October

Here's what I covered on my InvestmentWriting blog during the previous month:

• Lessons from “Presentation Skills for Investment Professionals”
• Six tips for snaring reporters with your market commentary
• Guest post: “What’s a tomato got to do with getting your fund discovered?”
• Guest post: “Investment analysts and social media”
• ISI’s Straszheim: China’s interest rate hike is “tapping the brakes”
• Cautious optimism on emerging market stocks from SSgA’s Hoguet
• Bubble? — Emerging markets scrutinized by CFA Institute conference
• Notable quotes from the CFA Institute’s emerging markets conference
• LinkedIn’s fatal flaw for financial advisor compliance
• Do the robin, the reindeer, and the building sing the same song?

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Copyright 2010 by Susan B. Weiner All rights reserved

New posts on my NEW Investment Writing blog

If you’re not visiting my InvestmentWriting blog in its new location, you’ve missed the following posts over the last month:

• Should the Morningstar style box go 3-D? Quality counts, says Atlanta Capital
• Guide to e-newsletters
• Guest post: “Generate Quality, Low Cost Leads with Facebook Ads”
• Great blog posts don't matter...
• E-newsletters: Great marketing tool for financial advisors and writers
• “CFA credential implies a standard of care not always upheld,” says Forbes opinion piece
• A top technique of financial advisors who blog successfully
• Introverts, steal this idea for your next conference!
• Poll: Should you make investment predictions that can backfire?

Also, you still have time to sign up for "How to Write Blog Posts People Will Read: A 5-Week Teleclass for Financial Advisors" starting Sept. 23.
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Copyright 2010 by Susan B. Weiner All rights reserved

"Where Are We Heading? The Future of Investment Management in Boston"

The future of investment management in Boston was the focus of a panel presentation to the Boston Security Analysts Society's annual meeting on June 24. The view that Boston is being left behind made the greatest impact on me, but I'll report some of the opinions of all four speakers.


Reamer: Emphasis on actively managed equities hurts Boston
The investment world is shifting toward aggressive hedge funds and passive quantitative funds, said Norton Reamer, vice-chairman and founder, Asset Management Finance LLC. There's also currently an emphasis on fixed income. This is because the public has been discouraged by the stock market returns of the past two years. They want defensive, safe investments. On a related note, large pension funds are moving more toward indexing.


These trends don't favor Boston, the home of the original mutual fund, because local firms emphasize actively managed mutual funds. At least these trends don't bode well in the immediate future.


For Boston to prosper, it must attract assets from around the world, said Reamer. However, he sees the action shifting to New York, London, and even Philadelphia and California. Boston has only one of the 10 largest hedge funds and three of the 30 largest. While Boston has a history of venture capital, venture capital is less important than private equity, which is concentrated elsewhere, said Reamer.


One of Reamer's comments held a glimmer of hope. Universities--along with arbitrage groups, traders, and others--are the source of the new ideas that are changing the investment world. Boston has some great universities. Perhaps the universities can fuel the region's resurgence as an investment center. I'm happy to note that the Boston Security Analysts Society's program committee has a subcommittee devoting to inviting speakers from academia.


Putnam: Four trends will create many losers, few winners 
Investment management is a craft, said Don Putnam, managing partner of Grail Partners, who moderated the panel. He emphasized the need to avoid losing sight of the craft before he described the four trends that he believes are changing the industry.


As a result of these trends, there will be many losers and few winners, said Putnam. The winners will be global firms as well as small cadres of capable people. The big challenge for money management will be to connect these two groups.


Trend 1: The long, complicated supply chain is reordering. For example, people are seeing the problems with "the slices taken off for people who deliver golf balls." I assume Putnam was referring to wholesalers and the broader issue of 12b-1 fees and the like, though he said that he was not making a case for fee-only advisors. Changes are coming as a result of regulatory pressures, client demands, and "better mousetraps," such as ETFs and active ETFs. Putnam said he's sceptical about growth opportunities for the mutual fund industry.


Trend 2: The relevance of specialization is declining. Why? Because the efficient frontier--and the need to diversify into many slices of the market--has been challenged. "It has been proven to be nonsense for the client," said Putnam. Clients' "true utility equation" can be delivered more efficiently with quantitative solutions, he added.


Trend 3: The arithmetic of the investment business is changing with the rising importance of asset allocation. As the utility of money management has declined, fees have risen, said Putnam. This can't last. While clients have bought the "myth of comfort and control," the past three years have increased client dissatisfaction.


Trend 4: Technology is increasing in importance. Technology should be woven into every aspect of money management, said Putnam. Technology's influence on money management has barely begun.


Manning: Structure your firm to have an edge over your competition 
You must deliver great results to keep assets, said Robert J. Manning, who spoke as CEO of MFS Investment Management, but is scheduled to become the firm's chairman on July 1. This means you must structure your firm to have an edge over your competition. Manning discussed three key elements of MFS' structure.


1. Follow a long-term investment philosophy. The world is preoccupied with short-term investment returns. However, MFS believes that you need a culture of long-term investing backed by an appropriate compensation structure. When MFS conducts performance reviews, it only considers periods of three years or longer.


2. Create a global footprint. If your people are only in Boston, you can't be a winner, said Manning. For example, if you don't have staff in Europe, you can't respond quickly enough when credit default swaps widen in Europe. As part of the global footprint discussion, Manning emphasized the need to integrate the firm's fixed income and equity teams.


3. Analysts are more important than portfolio managers. The old model is broken, said Manning. The most important employees are career analysts who have expertise in specific sectors. MFS has eight global sector heads. These are the people who, if they "see a storm coming" get the entire firm out before it hits.


The increased importance of analysts has been driven partly by the fact that clients want to buy "specialized sleeves of alpha." This is reflected in analysts' compensation. At MFS, analysts earn more than portfolio managers.


We sell the global research platform, not the portfolio manager, said Manning. The portfolio manager simply assembles the alpha streams from the analysts the way that clients want.


Hughes: Confident in Boston's future 
Larry Hughes, CEO of BNY Mellon Wealth Management, said that Boston's talent and innovation makes his firm feel confident about Boston's future.


Still, the next decade will pose challenges for wealth managers in terms of how to protect clients against continued market volatility and how to capture the related opportunities. Hughes suggested three areas for focus.


1. Investment innovation--The "set it and forget it" ways of the past won't work any more, said Hughes. It's important to capture trends that develop--and disappear--in months, or perhaps even just weeks.


2. Seamless and dynamic planning--Wealth managers must "plan across silos," considering all aspects of clients' lives, including taxes, estate planning, health care, and more.


3. Better manager-client engagement--It's important to speak in your clients' terms. Clients don't talk about the efficient frontier, standard deviation, or r-squared, said Hughes. So neither should wealth managers. Instead, wealth managers should present issues in straightforward terms, such as "helping you maintain your lifestyle."

Related posts:
* Investment management career advice from industry pros
* "Have mutual fund fees gone up or down?"
* GMO's Jeremy Grantham on "The Ethical Hole in Finance" at #CFA2010
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Copyright 2010 by Susan B. Weiner All rights reserved

Investment management career advice from industry veterans

Investment industry veterans' somewhat gloomy outlook for Boston's asset management firms prompted me to ask, what should the people in this room do to promote their careers?


I asked this question during the Q&A session following "Where Are We Heading? The Future of Investment Management in Boston," a June 24 panel presentation to the Boston Security Analysts Society's annual meeting. You'll find the panelists' suggestions below.


Keep learning, said Donald H. Putnam, managing partner, Grail Partners LLC. As the role of technology accelerates, you can't achieve the same outcomes as in the past using old skills. The great investors spend more time on their own skills as they get older, he added.


Take new challenges and learn new things, said Norton Reamer, vice-chairman and founder, Asset Management Finance LLC.


Be passionate about what you do, said Larry Hughes, CEO of BNY Mellon Wealth Management. If you don't feel passionate, then find something else to do.


Focus on your trade, said Robert Manning, CEO. MFS Investment Management. If you're good at what you do, you'll find a job despite the industry trends.

(Added 6/29) For more information on the panelists' presentations, read "Where Are We Heading? The Future of Investment Management in Boston."

Related posts:
* "You" can help your job hunting "thank you"
* Useful LinkedIn Groups for investment and wealth management job hunters
* Recruiter Ted Chaloner on job interviews that get results
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Copyright 2010 by Susan B. Weiner All rights reserved

Guest post: "Making Research Readable"

Investment research analysts can learn to write better. In his guest post, Joe Polidoro gives directors of research his advice on how to make this happen.

I'm delighted to have met another advocate of good investment writing thanks to Twitter, where Joe tweets as @joepolidoro.

Making Research Readable

By Joe Polidoro 

Is it worthwhile, or even possible, to improve the quality of your research analysts’ writing? Yes and yes, and I’ll tell you how. First, the business case.

It seems reasonable that good writing—clear, engaging, memorable—should be more effective than sub-par writing at reaching your audience. But let’s see the numbers. 

One of the best proofs I’ve come across is courtesy of Dame Marjorie Scardino, CEO of Pearson PLC and former CEO of the Economist Group (hat tip: Vicki Cobb and I.N.K.)

Scardino located a study in which three groups—linguists, writing professors, and journalists –were asked to improve passages taken from a history textbook. Students were then asked to read the original passages and the rewrites and immediately record as much as they could remember.

Recall of the journalists’ rewrites beat recall of the other groups’ rewrites and of the original text by a whopping 40%. Good writing matters.

And I think average writers, including research analysts, can measurably improve their writing—with the right help.

First, look for a writer
In your quest for a writing coach, avoid anyone who doesn’t make a living—and a decent one—by writing. As Stephen King said, anyone who is paid to write knows how to write effectively. Professional writers “get the story told memorably … and quickly,” says Scardino. Those who make their living doing other things, including the teaching of writing, usually can’t.

Hire a writer/coach
A writing pro isn’t necessarily a good writing teacher, however. Aside from references, here’s how to tell. Effective teaching is less about charisma, more about preparation, perseverance, and a passion for the work. So ask questions: What are you going to teach my analysts? What are your goals? What’s your plan? How will you deal with indifference or egomania?

Your writer/coach should be quick with confidence-inspiring answers.  Look for someone who emphasizes telling a story (yes, even in a research report), clarity, and effective editing. Steer clear of those who get deep into grammar and theory. Good writer/coaches use real examples and show how it’s done.

Follow through with your swing
No writer/coach worth hiring will promise to improve your analysts’ writing in one session. A golfer won’t significantly improve her game with a 3-hour lesson. If she’s serious, she’ll take a series of lessons over the season. And writing well is harder than golfing well.

It doesn’t have to be extensive—even three 45-minute sessions over four to eight weeks with your most problematic analysts will work. But set aside budget for this. It’ll show you’re serious. And it will make whoever you hire that much more effective.

Joe Polidoro spent over a year improving the equity research reports at Bear Stearns, where he worked with past and future research stars including Lee Seidler, Lincoln Anderson, Larry Kudlow, Joe Buckley, Jami Rubin, and Steve Binder. Joe now co-heads Triplestop LLC, a marketing agency specializing in asset management and related industries.

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Copyright 2010 by Susan B. Weiner All rights reserved

My Boston-area networking suggestions

Social media are great, but sometimes I want to meet my business colleagues, prospects, and referral sources in person. 

In this post, I share some names of networking organizations in greater Boston. Perhaps you'll find an organization that works for you. Even if you're not in Boston, some of these organizations have a national presence.

My anchor organizations are the Boston Security Analysts Society (BSAS), the local chapter of the CFA Institute, and the Women's Business Network (WBN). I'm a volunteer for the  BSAS. I try to attend at least one program monthly to keep on top of investment management issues and to meet new people. I belong to WBN out in Wellesley to get myself out of my office to chat with other small business owners.
 
Here are some other organizations I've enjoyed on multiple occasions. They're a mix of financial, communications, and business groups.

• Boston Women in Finance-- I've enjoyed presenting to their members on writing techniques.
• Downtown Women's Club
• International Association of Business Communicators-Boston chapter
• Public Relations Society of America-Boston chapter

There are many more worthy organizations in greater Boston. One that intrigues me is the Boston Economic Club. If only I had more time... 

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Copyright 2010 by Susan B. Weiner All rights reserved

Tip for how to connect with your workshop attendees

Advisors, you can deepen your connection with folks who attend your investment or financial planning workshops using a technique I observed at the Financial Planning Association of Massachusetts annual conference on May 7.

Consultant Shari Harley, whom I wrote about in "How to improve your financial planning client relationships," handed out postcards to her audience. There's nothing unusual about that. But what she said next grabbed my attention.

Harley asked us to write on the postcard (shown in the photo above) at least one thing that we learned from her presentation that we'd like to apply. Then she promised to mail the postcards to us in one month, if we dropped them off on our way out of the auditorium.

I like Harley's postcard idea because

1. Her question spurs the audience to think about what was most valuable in her presentation.
2. She gains valuable feedback when participants hand in their cards.
3. She reminds potential clients of her existence--with their permission--when they receive their cards one month later.
4. If audience members haven't acted on their goals by the time they receive the cards, they may say, "I need a consultant to help me act on this."

This postcard technique should work nicely as follow-up to any sort of financial seminar or workshop.
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Copyright 2010 by Susan B. Weiner All rights reserved

The compliance-constrained advisor's guide to LinkedIn, Part II: Status updates

Your LinkedIn status updates are powerful reminders of your existence to clients, prospects, and referral sources. You can use them in ways that even compliance officers can love.


My top three suggestions are to use materials that are already compliance-approved, share your professional interests, and share your professional interests.


1. Use compliance-approved materials


Every firm has materials that are approved for use with the general public. It could be your quarterly investment commentary, a newsletter, or even a brochure. Take advantage of this information by writing about it in your status update line.


You can say something as bland as "Check out our 2nd quarter market commentary at http://..." or spice it up by asking a provocative question and following the question with a link. Check with your compliance officer to learn how much you can say without raising his or her anxiety.


2. Share your professional interests

You can mention professional meetings that you're attending or topics that you're reading about. 

Let's say you're trying to attract clients with complex estate planning needs. Your prospects will probably feel reassured to learn that you're reading journal articles and attending panels on these topics. Your update about an upcoming event may lead to your referral source setting an appointment to meet you there.

You can also share company news, such as the hiring of a new relationship manager or the debut of a new product.


3. Share your personal interests


People like to do business with people whom they like. Share your volunteer interests, hobbies, or even something that makes you smile. It'll help people to develop a connection with you.

Compliance note: For more on the compliance aspects of social media, check out Bill Winterberg's excellent article in the Journal of Financial Planning, accessible to non-members only during the month of May. Chad Bockius' "LinkedIn Compliance Self-Assessment" focuses on compliance for registered reps. Both articles point to the importance of monitoring and archiving social media activity.

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Copyright 2010 by Susan B. Weiner All rights reserved

Top four email mistakes to avoid when you've got a referral

You've probably used a referral to ask a stranger for an informational interview or a chance to talk about your business. If you make your initial contact by email, please avoid the following common mistakes:

• Burying the name of your mutual acquaintance in the body of your email
• Not making it clear immediately what you're seeking
• Not identifying yourself clearly and succinctly
• Putting the burden on the other party to follow up

Let's flip these mistakes to get a list of best practices. 
 

1. Highlight the name of your referrer

When I've got a referral, I often put the referrer's name into my subject line. For example, "Allan Loomis referred me" or "Allan Loomis suggested I talk with you." The familiarity of that person's name raises the odds that the recipient will open your message. 

2. Quickly tell your reader what you're seeking 

3. Identify yourself briefly

People are busy. They don't want to read a long email to figure out what you want from them. Open with a line such as "Allan Loomis suggested I contact you for a brief informational interview about how you manage your investment research needs." Then, and only then, should you give a brief self-introduction.

4. Take the initiative to suggest some times when you and your reader can connect. Nothing stops you from writing "I look forward to hearing from you." But don't expect your recipient to follow up. The burden is on you because you're the person requesting the favor. I increasingly find myself writing "I will call you next week to follow up."

Pay attention to these tips and you'll increase your odds of success whether you're marketing yourself or your company.

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Copyright 2010 by Susan B. Weiner All rights reserved

How to improve your financial planning client relationships

You can improve your relationships with financial planning clients by encouraging them to communicate honestly with you from the very beginning. 

This is the main lesson I took away from Shari Harley's presentation on "How to Say Anything to Anyone: Paving the Way to Powerful Working Relationships" to the annual conference of the Financial Planning Association of Massachusetts.


Ask for honesty
Harley suggested that audience members achieve this by saying, "I want a great relationship with you. If I do anything that violates your expectations, frustrates you or causes you challenges, please tell me. I promise I will say thank you."

Assuming that your client says "yes" to your request, then you can add, "I hope I can do the same with you." This sets the stage for two-way communication. If it works, you'll never be surprised again by a client defection. 

I asked Harley what she'd recommend saying after "thank you" when a client gives negative feedback. Don't say anything other than "thank you" right away, she suggested, because you'll feel defensive. Go away and think things over. You can follow up later.


Follow up with questions
Don't stop with your initial agreement to be honest with each other. Follow up with questions that help you to understand your client better, said Harley.


Here are some of her suggested questions:
1. Who was the best service provider you ever worked with?
2. What made him/her the best service provider?
3. What are your pet peeves?
4. Do you prefer email or voicemail?
5. What do you wish I would start, stop and continue doing? 

I can see how these questions would benefit me as a service provider and a client. It's time to rev up my courage and start asking more questions.

I believe Harley's approach could benefit you in your professional and personal life.

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Copyright 2010 by Susan B. Weiner All rights reserved

I'm quoted in "Using Social Media in Your Job Search: Look before you Tweet"

 Usually I'm the interviewer, not the interviewee. So I felt more anxious than usual during the interview for "Using Social Media in Your Job Search: Look before you Tweet." Luckily I was interviewed by a capable reporter. Writer Janet Aschkenasy's article appears on the eFinancial Careers site.

I know and like several of the writers for eFinancial Careers. So I recommend checking out the site if you're job hunting.
____________________
The next session of "How to Write Blog Posts People Will Read: A Five-Week Teleclass for Financial Advisors" will start in April. For more information, sign up to receive "Information on upcoming classes, workshops, and other events" as well as my free monthly newsletter.
Copyright 2010 by Susan B. Weiner All rights reserved

Institutional equity research job hunters, check out this site!

If you're an analyst looking for a job in institutional equity research, you should read the ResearchWatch blog published by Integrity Research.

The blog will help you stay current on trends and players--especially independent research firms--in institutional equity research. Some recent topics included 

• Mutual Funds Value Small Cap Research Most
• Kroll for Sale
• Firm Profile – Precipio Research
• Track.com – A new Research Ideas Platform
• Hedge Fund Rebound Is Mixed Blessing

You can subscribe to ResearchWatch by email or RSS feed.
____________________
Susan B. Weiner, CFA
Check out my website at www.InvestmentWriting.com or sign up for my free monthly e-newsletter.
Copyright 2010 by Susan B. Weiner All rights reserved

Reader question: How can I share my investment commentary on LinkedIn?

You can use LinkedIn, yet stay within your compliance officer's guidelines, by sharing approved materials through your LinkedIn "status line." I often suggest this to investment managers and financial advisors. 

So I wasn't surprised to receive an email saying, "Help! Please remind me how to share a link to my investment commentary on LinkedIn." 

Here's my answer.

Step 1 Shorten the URL that takes readers to your commentary. The URL for your commentary is probably be too long for the limits of LinkedIn's status updates, especially because you need text to lure readers to your commentary. This is when link shorteners come in handy. You can use a free service, such as TinyURL.com. To shorten your link, simply follow the directions at the link shortening website of your choice.


Step 2 Enter your text into LinkedIn. When you go to your LinkedIn home page, you'll see below your Inbox the Network Updates section.  Type your text into the box. If your commentary is provocative, you might say something like "You won't believe what I'm saying about the stock market  http://tinyurl.com/....." LinkedIn automatically converts URLs beginning with http:// into live links.

Hit the Share button and your investment commentary becomes available to folks on LinkedIn.

Related posts
* The LinkedIn status line is your friend, whether you're looking for clients or a job
* My top tips for LinkedIn newbies who want to attract financial clients, referrals, and jobs
____________________
Susan B. Weiner, CFA
Check out my website at www.InvestmentWriting.com or sign up for my free monthly e-newsletter.
Copyright 2010 by Susan B. Weiner All rights reserved

Guest post: "The Lost Art of the Thank You Card"

I'm a big fan of saying "Thank you." So I'm delighted to feature this guest post by Suzanne Muusers of Prosperity Coaching. Suzanne is a consultant to financial advisors. I met her through Twitter.

The Lost Art of the Thank You Card
By Suzanne Muusers

What would happen to your referrals if you wrote five thank you cards per week? Would your client relationships deepen? Would you spread goodwill and kindness?

I've been sending out a lot of hand-written thank you cards lately. I find really nicely designed thank you cards at Trader Joe's and AJ's and I just get the urge to send them. You wouldn't believe the response I get when the recipient receives the card. I usually get a phone call from them gushing about "taking the time to send a hand-written card" and "thank you so much for thinking of me."

We have become such a digital world we forget about the impact such a simple action can have.  We now have email, ezines, newsletters, evite.com, and the like.  While it's nice to save paper on such niceties and be "green," getting a card in the mail is like getting a present.  When you send someone a card through the mail, I am betting that it stays on their desk for quite some time.

As I glance over my desk, I see a hand-written card I received from a financial advisor I met last month at the Financial Planning Association meeting. He asked me for advice on where he should get coach training. I gave him a few choice pointers and several days later received a beautiful zen-like card from him thanking me for the tips. You can bet that I'll keep that card for a long time.

So how can you use thank you cards in your business? What occasions would be suitable for a thank you card?

How about:

• Birthday cards
• Nice to meet you cards
• Thank you for the referral cards (as part of a written referral program)
• Congratulations for your achievement
• Sympathy cards
• Wedding cards

Maybe thank you cards should be part of your Marketing Plan and part of your week!

Suzanne Muusers is a business coach, marketing expert, and a sales and marketing speaker based in Scottsdale, Arizona. Her coaching program for financial advisors, The Prosperous Advisor™ , focuses on revenue-building activities.

____________________
Susan B. Weiner, CFA
If you're struggling to pump out a steady flow of good blog posts, check out my five-week teleclass for financial advisors, "How to Write Blog Posts People Will Read," and sign up for my free monthly e-newsletter.
Copyright 2010 by Susan B. Weiner All rights reserved

Some ammo for job-hunting -- and client-seeking -- CFA charterholders

Employers--and potential investment management clients--don't understand why they should hire a CFA charterholder instead of a non-charterholder. That's the lament of some job-hunting and client-seeking colleagues of mine in the Boston Security Analysts Society.

"Fund managers with CFAs take fewer risks than those with MBAs, study says," an article by Ian McGugan in Canada's The National Post, provides one reason for choosing a CFA charterholder. Charterholders are going to take fewer risks in portfolios compared to MBAs.

"This result is surprising and may have something to do with the ethics instruction that is part of the CFA course but not most MBA programs," writes McGugan.

This newspaper article is based on research by Oguzhan C. Dincer of Illinois State University, Russell B. Gregory of Allen Massey University - Department of Commerce, and Hany A. Shawky of SUNY at Albany - School of Business and Center for Institutional Investment Management.

You can download "Are You Smarter than a CFA'er?"  from the SSRN website, where registration may be required. 

Thank you, Matthew Andrade, member of the Calgary CFA Society, for bringing the National Post article to my attention!
____________________
Susan B. Weiner, CFA
If you're struggling to pump out a steady flow of good blog posts, check out my five-week teleclass for financial advisors, "How to Write Blog Posts People Will Read," and sign up for my free monthly
Copyright 2010 by Susan B. Weiner All rights reserved

"You" can help your job hunting "thank you"

Which "thank you" are you more likely to read? The note that opens with 1) "Thank you for meeting with me" or 2) "Your company's disciplined approach to..."?

Number 1 makes me yawn. "Another lame thank you note," I say to myself, although I'm impressed the writer bothered to write when so many people don't.

Number 2 makes me think, "Hey, this person listened to me! They're writing about one of my company's key messages."

Recruiters and career counselors tell job hunters their communications should focus on the company that they're pitching instead of on themselves. One way to achieve this is to start your "thank you" note with the words "you" or "your," and then convey your appreciation later.

A friend tried a variation on this when requesting an informational interview from a senior executive. He opened by citing an article that had quoted the exec. "You said '...' in this article, which interested me because...' " He got the interview.

The power of "you" isn't just for job hunters. It boosts the power of most communications--blogs, brochures, articles, websites, white papers, and more. Try it and see!


Related posts
*  Which topic should you discuss in your client email's first paragraph?
*  Your mail has three seconds to grab your reader's attention
* To "dear" or not to "dear" in your email

____________________
Susan B. Weiner, CFA
If you're struggling to pump out a steady flow of good blog posts, check out my five-week teleclass for financial advisors, "How to Write Blog Posts People Will Read," and sign up for my free monthly e-newsletter.
Copyright 2010 by Susan B. Weiner All rights reserved

Five-Week Writing Teleclass for Financial Advisors: "How to Write Blog Posts People Will Read"

Blogging has become a "must" for many independent and fee-only financial advisors. It's a great way to connect with current and potential clients. Blogging also helps drive traffic to your website and cement your reputation as a leader in your field. But many advisors struggle to crank out a steady flow of compelling blog posts. That's why you need to enroll in "How to Write Blog Posts People Will Read," my NEW five-week teleclass for financial advisors.

You will learn how to
o  Generate and refine ideas for blog posts that will engage your readers
o  Organize your thoughts before you write, so you can write more quickly and effectively
o  Edit your writing, so it's reader-friendly and appealing
                    
The inaugural class will be offered exclusively to my newsletter subscribers and to clients. Participants in the initial class will receive a 50% discount in return for participating fully and providing detailed feedback.

When you participate fully in this class, you'll end up with one polished blog post--and a process you can follow to generate many more.
 
How you'll get there
o Small class--limited to 12 advisors--so you can participate, not just listen passively. Research shows that people learn best when they act on new information.
o Classes will meet on five successive Thursdays--Feb. 25, March 4, March 11, March 18 and March 25-- on a teleconference call from 1:00 p.m.-2:00 p.m. Eastern Time
o Convenience because you can dial into the weekly phone calls from anywhere--and classes are recorded, in case you can't attend "live"
o Guidance through a step-by-step process of writing blog posts, including
      o  Generating blog post topics
      o  Organizing your thoughts before you write
      o  Positioning your blog post to appeal to readers
      o  Editing your posts to boost their reader-friendliness      
o  "Hands on" practice through completing your weekly homework assignments
o  Resources for the future because you can download
      o  Class recordings
      o  Class handouts
      o  E-booklet
o Feedback from a seasoned financial writer-editor whose clients range from the country's largest asset managers to solo professionals to trade and retail publications

Register Now!

TESTIMONIALS
What advisors say about other workshops by Susan Weiner, CFA
o "I found this presentation very helpful because it focused on key elements to being an influential but understandable advisor."
o  "Susan's presentation brought to life the benefits of better writing."
o  "Great tips for jump starting my client communications"
o  "Susan's presentation made me want to go back to my office and juice up my emails and letters."
 
DO YOU HAVE QUESTIONS?
Contact Susan at learn@investmentwriting.com or 617-969-4509.

Register Now!
____________________
Susan B. Weiner, CFA
Check out my website at www.InvestmentWriting.com or sign up for my free monthly e-newsletter.
Copyright 2010 by Susan B. Weiner All rights reserved

Guest post by Roger Wohlner, a top advisor on Twitter

Because some of my blog and newsletter readers still wonder why an investment or wealth manager would bother with Twitter, I jumped on the opportunity to feature "Financial Advisors and Twitter,"  a guest post by financial advisor Roger Wohlner who works in Arlington Heights, a Chicago suburb, about what he has gained from Twitter. 

The Top 10 Twitter Feeds for Career-Minded Advisers recently named guest blogger Roger Wohlner one of the top 10 people whom career-minded financial advisors should follow on Twitter.  I knew that already. I've been tracking Roger for awhile. I've even had the pleasure of speaking with him on the phone.

By the way, one Twitter advantage that Roger does not mention. His Twitter feed ranks high in a Google search for "Roger Wohlner."

Financial Advisors and Twitter
By Roger Wohlner, CFP

Recently an article entitled The Top 10 Twitter Feeds for Career-Minded Advisers was published in the FINS section of the online Wall Street Journal. The article listed the top 10 Twitter feeds for financial advisors to follow. I was fortunate enough to be included in this list. I heartily recommend that anyone even remotely interested in personal finance follow the other nine folks listed.

Beyond the good natured ribbing that I am taking from some of my fellow advisors on Twitter about my new “celebrity” status, this article has made me stop and think about why financial advisors in general and me in particular are on Twitter.

I suppose the initial thought was that I would get on Twitter and clients would flock to me. That hasn’t happened and I think most other advisors on Twitter have had the same experience. However I think Twitter is a very worthwhile tool for several reasons:

I have met (in person and online) a number of fellow financial advisors from whose Tweets (posts for you non-Twitter users) I learn something new every day. Whether from their blogs or article links Twitter is a great source of information. Additionally I feel that I have greatly expanded my network of experts to whom I can turn with questions in areas where I may not have the direct expertise.

I do think Twitter is an excellent PR tool and I feel that my name is out there a much more than it was when I first signed onto Twitter this past April.

Twitter allows you to follow and participate in the “conversation” about any number of topics. I am particularly interested in the Fiduciary movement; 401(k) plans, investing, and financial planning. Twitter is filled with information about thousands of topics and companies, plus politics, entertainment, culture, and sports to name a few.

As a financial advisor I am always careful not to recommend specific investment vehicles or courses of action. Twitter to me is just not a medium to provide specific advice. Financial advice is best given in a one-on-one situation, each client and their situation is different.

Lastly let me share some of the folks that I follow in addition to those listed in the article above. Some are fellow financial types, some not. This is a Twitter idea inspired by Gini Dietrich ginidietrich a Twitter superstar and a bright young Chicago CEO. If you follow Gini you will move up the social media learning curve very quickly. Below is a great “Follow Friday” list:


My “Core Favorites” List

davegalanis Dave is one of the sharpest financial and business consultants I know. Dave is the one who turned me on to Twitter in the first place. We were cubicle neighbors back in the day at our first jobs out of school. Dave is a connoisseur of most foods served on a bun.
gtiadvisors Greg is into due diligence, corporate security, espionage, and also maintains a cooking recipe blog. When my daughter was traveling to Russia he indicated that he had contacts that could be of help if she found herself in a bad situation, Greg is a great guy to know.
IKE_DEVJI Ike is an attorney and advisor focusing on asset protection. Really knows his stuff.
venturepopulist Jeff is a private equity and hedge fund guy with some interesting opinions on investing.
dgvelaw Danielle is the mother of three, a really sharp estate planning attorney, plus she is a Packer fan by marriage.


Other folks I suggest following listed by Twitter name


Brightscope
CurtisASmithCFP
feeonlyplanner
TeriTornroos
williger
RussellDunkin
susanweiner
KristenLuke
TheMoneyGeek
mlimbacher
smart401k
Vantage401k
BeManaged
onlymoney
RockTheBoatMktg
FiduciaryNews
nevinesq
obliviousinvest
JonChevreau
wisebread
EvolutionWealth
GregPorto
DianeKennedyCPA
FernAlixLaRocca


If you are new to Twitter or have been on for awhile, this list plus the folks listed in the article are a great group to follow.

There are many other people and organizations that I enjoy following on Twitter as well. One tip that helped me early on was to look at the followers and those followed by the people I was following. I still do this to this day. The new Twitter list function is another way to do this as well.

Check out Twitter and join the conversation. You’ll meet some interesting people and you might learn something in the process.

____________________
Susan B. Weiner, CFA
Check out my website at www.InvestmentWriting.com or sign up for my free monthly e-newsletter.
Copyright 2010 by Susan B. Weiner All rights reserved

Investment management job outlook for 2010

There are glimmers of hope in the investment management hiring outlook for 2010, especially for job applicants who help to generate revenues or who are in an area where cuts have been too deep. That's what I gathered from exchanges with three observers, Michael Kulesza, managing director of Horton International's Boston office; Bob Gorog, partner in CT Partners' Boston office; and Michael Evans, president, FUSE Research Network in Boston. This updates my 2008 posts, "Three recruiters talk about hiring at investment management and mutual fund firms" and "Who's hiring CFA charterholders."

"I do sense an uptick in hiring for 2010," said Kulesza. "Many companies scaled back heavily, so now they and are planning to add people to their organizations." That's particularly true in the areas of sales, new business development, mutual fund wholesalers, and advanced sales support, he said.

Smaller firms hiring to grow market share 
Small- to medium-sized firms are hiring more aggressively than bigger firms, added Kulesza. They're taking advantage of large-company layoffs to upgrade their staff and to increase market share. 

Given the big banks' involvement with mergers and TARP funds, some smaller banks see an opportunity to expand their  high-net-worth businesses. "Customers are gravitating toward more local or regionalized high-net-worth services," he said. 

Aside from these sales and marketing opportunities, Kulesza believes there may be additions to investment research and analysis. "Back office operations will stay lean,” he said. 

Privately held and mutual companies are freer to take advantage of hiring and market share expansion opportunities, said Kulesza, because they aren't answerable to the stock market. Meanwhile, it will take four to five years before investment management hiring returns to its previously high levels, he predicted. 

Some niches offer more opportunities  
"The better firms are coming back into the market," said CT Partners' Gorog. On the investment side, he sees more searches for international equities than for domestic equities. Opportunistic hiring is also happening in fixed income areas such as credit and distressed debt.

Some hedge funds are beefing up their distribution. They're trying to upgrade their clients to include institutions as well as the high-net-worth, fund-of-fund, and family office clients with whom hedge funds typically launch. Funds that have survived three years and delivered decent relative performance over that period figure they have a good shot at expanding their client base. 

Hiring in product management
Fuse's Evans shared the hiring outlook uncovered by the firm's recent research report on product management at asset management firms. His comments are reproduced below with his permission.
 

Increased Activity – Two areas in which product leaders anticipate increased activity is improving web content and capabilities, and hiring of additional staff. A review of firm websites indicates that much of the research and marketing content is dated. In terms of the actions listed, improving web content and capabilities was among the least time-consuming and least expensive actions firms could take, but its impact could be great in that it would signal to advisors and investors that the firm is moving forward.

In terms of hiring, firms indicated a strong desire to add back staff. Fully 50% of respondents indicated that they plan to hire in 2010. When asked the areas to which they planned to add staff, responses included:
·  Product managers
·  Marketing managers
·  Associates/analysts
·  Junior product managers
·  Manager research/due diligence

This suggests that firms may be feeling the burden of carrying out new organizational initiatives using skeleton staffs. Recent analysis by Russell Reynolds Associates concurs that hiring should resume in 2010; particularly on the sales and marketing sides of organizations, as these were among the hardest hit in terms of headcount reduction.

For wealth managers and financial planners 
Wealth management professionals and employers should check out Bill Winterberg's "Your Next New Hire: By Providence or Planning?" Bill lists some resources that may help both job hunters and those who are looking to hire. He also links to some trade publications suggesting that hiring in this arena will pick up in 2010.

By the way, Winterberg hopes that operations hiring is more robust than Horton International's Kulesza suggests. "If anything, firms need to support additional capacity ahead of growth, rather than hire after growth exposes bottlenecks in operations." 

Good luck to all of you job hunters out there!

JAN. 12 UPDATE

If you're willing to be interviewed by a reporter--and you fit the criteria mentioned below--please contact Emma Johnson at the email address she provides.

"Hey Wall St., what's the job market really like? For a story, looking for those currently or recently employed in finance to comment on job outlooks. Anonymous sources OK. emma@emma-johnson.net"

____________________
Susan B. Weiner, CFA
Check out my website at www.InvestmentWriting.com or sign up for my free monthly e-newsletter.
Copyright 2009 by Susan B. Weiner All rights reserved

Private equity job hunting tips from four professionals

"Don't bring me a resume. Bring me a deal," said Daniel Meader, founder and managing partner, Trinity Advisory Group. Meader offered his advice during the Q&A following "The State of Private Equity: Opportunity through Crisis," a sold out presentation to the Boston Security Analysts Society on November 5.

Other advice from panelists:

• In New England, the best job prospects are in venture. The corporate growth and buyout styles of private equity are stagnant locally, said Martin Grasso, CEO, Pearl Street Capital Group.
• It's good to have consulting experience as well as investment expertise, according to Scott Stewart, MS in Investment Management Faculty Director, Boston University School of Management.
• Get operating experience in turning around a distressed company, suggested Norman Rice, partner, ConsensusCapital Group.

Do you have more tips for private equity job hunters? Please add them in the comments.
____________________
Susan B. Weiner, CFA
Check out my website at www.InvestmentWriting.com or sign up for my free monthly e-newsletter.
Copyright 2009 by Susan B. Weiner All rights reserved