10 Reasons Financial Advisors Write Books
1. To appeal to HNW prospects.
Catching the attention of high- and ultra-high-net-worth prospects can be difficult, which is why advisors in this category typically write books. The immediate authority that comes with publishing a book is one of the best ways to set yourself apart.
2. To give clients something they can pass on to their friends/children/grandchildren.
When someone has a good advisor, they love telling their friends and family. Imagine how good it feels for a client to say, “You should read this book, it was written by my advisor.”
3. To give COIs a better leave-behind than a businesscard.
Staying front-of-mind with COIs can be difficult, depending on how many options they have. A book can sit on their shelf in their office and be a constant reminder of your authority and partnership with them.
4. To help new team members learn the firm's philosophy.
It takes new advisors and other team members a while to get a feel for what sets your firm apart. They may come on board and think, “This is a financial firm. I know how financial firms operate.”
It can take a year or more for new team members to get a handle on what makes your firm special and take full ownership of it.
A book is one of the best ways to spell out your philosophy, operating system, value proposition, and more.
5. To leave a legacy at their firm as they prepare to exit.
When the time comes to sell your business and/or retire, a book can act as a capstone for your career. It’s a way to share the stories, wisdom, and guidance compiled from decades of experience.
6. To use as the primary source material for content creation on an ongoing basis.
When you publish a book, you’ve basically created a year or more’s worth of content that can be used for your blog, newsletter, and social media accounts.
7. To compile their thinking from their blog.
If you’ve already written a lot of articles for your blog, then you’re already part of the way there.
While some people may tell you it’s as simple as compiling a bunch of related blogs into a manuscript and publishing it, providing something of value requires a little more time and effort. Still, if you have published enough content for a book, you’re probably 50% of the way there.
8. To sharpen their perspective.
Your perspective is the most unique, interesting thing about you, yet many advisors publish white-label, generic content that any advisor could publish. Writing a book is like working out: you flex your muscles of exposition and persuasion in such a way that you come out with a sharper perspective that you can then bring into prospect meetings, conference talks, and more.
9. To hand out at community events or wherever you set up a booth.
You don’t have to give a book to everyone who walks by, but if someone stops and seems genuinely interested, giving them a book helps cement that interaction in their minds and gives them something that they’re far less likely to just throw away and forget about.
10. Because experts like Carl Richards think it’s a great idea
During an episode of the Kitces & Carl podcast devoted to the value of writing a book, Carl Richards dropped this bit of wisdom: “[Writing a book] is the cheapest, best business card you’ll ever have.”
Want to talk about writing a book?
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