Financial advisor who are thought leaders are significantly more successful at generating income than their peers. They are regularly able to more effectively garner new and wealthier clients. Being the expert the wealthy want—a thought leader—is one of the most effective business development strategies possible.
All the capabilities and expertise at a financial advisor’s command has very limited value if the affluent and other professionals who can refer business are not aware of the advisor’s expertise. Consequently, the distribution of high-quality thought leadership content is critical to generating new business from existing clients, prospects and referral sources.
There are some of the many ways to distribute high-quality thought leadership content:
• Books and articles.
• Reports and white papers.
• Blogs and social media.
• Videos and websites.
• Apps and advertisements.
All of these approaches to distribution can be extremely effective. In fact, one of the best distribution strategies for high-quality thought leadership content is public speaking.
The ability to present well to prospective clients and other professionals, such as accountants and attorneys, is one of the more masterful ways to distribute high-quality thought leadership content. The ability to articulate the material and connect it meaningfully to an audience is very powerful.
Not only is public speaking a very effective way to communicate high quality thought leadership content, it can be exceptionally cost-effective. Many financial advisors lack the time and resources, and sometimes even the capabilities, to develop and manage other distribution systems. However, with the plethora of events where prospective clients congregate, such elite mastermind groups attended by successful entrepreneurs, and events that advisors produce themselves, such as breakfast meetings and workshops, a good number of financial advisors can get the opportunity to share their insights.
In order for financial advisors to be effective at these events, they need to be adept public speakers. Empirical studies on the distribution of high-quality thought leadership content shows that, while some financial advisors are astounding public speakers, there are also quite a few that are not that proficient. But the good news is that public speaking is a learnable skill set.
It is important to realize that—after stripping away the quality of the high-quality thought leadership content—the ability of the financial advisor to present well contributes to him or her being seen as a leading authority. Furthermore, the immediate personal connectivity that is possible at these events can generate new business opportunities relatively quickly.
Financial advisors can effectively distribute high-quality thought leadership content in many ways. It is usually very smart to use a number of them as part of a synergistic campaign. For a great many financial advisors, public speaking should probably be an integral part of their business development efforts.
Russ Alan Prince, president of R.A. Prince & Associates, is a consultant to family offices, the ultra-wealthy and select professionals.
