Okay, if you are like my mother, then all things Prince George are the hottest things—magazines, newspapers and TV shows. Literally, she cannot get enough of the kid!
The Royal Family costs England a lot of money. In fact, in an article published in The Atlantic, “Is the British Royal Family Worth the Money?”, the Royal Family is noted to cost upwards of $53.3 million a year. There are even organizations that put the cost as high as $307 million a year. While this might seem outrageous, a $53 million annual cost may be pittance compared to what the British Tourism Board says the Royal Family generates in income for the country, which is roughly $767 million. When you factor the costs at $53 million or even the $307 million, clearly the Royal Family makes up for its costs. Either way, Prince George is lucky to be born into such a family.
For financial advisors, the newest thing seems to be FA today, an electronic platform for independent financial advisors. The platform is a mix between Google Reader (no longer in existence), LinkedIn Groups, and American Idol (a way to vote on the most useful content).
Just released last month, FA today acquired linkedFA and has created a lot of buzz, hitting a strong public relations push that includes block-and-tackle marketing as well as a surge of social media. The tactic is a great model for advisors to consider in creating a sales and marketing plan.
In providing sales training for financial advisors, AUM in a Box offers at least four examples for advisors to generate sales leads. One way is through Internet marketing, which we do on a regular basis. We also provide sales training classes here.
Just like AUM in a Box does, advisors would benefit from the strategy FA today employs: generate content, build a community, distribute links to the community through centers of influence and combine good old press releases to convey the action.
The FA today platform is based around scraping websites of prominent content providers in the industry. Notably, Michael Kitces and Maria Marsala provide regular content. In addition to content providers, FA today also offers content from news sources like InvestmentNews, Financial Advisor IQ, and ThinkAdvisor.com. Members can view the feed like they do with Twitter on the Dashboard, or join specific groups like the one AUM in a Box created, “Sales Training for Financial Advisors” (a little self-promotion never hurts, right?). A personal favorite group of mine is the Dinosaur’s Club. It’s specifically for independent financial advisors who have been in the industry more than 20 years. It already has 1,207 members in it.
My concern in the site is opening up the Dashboard, which is the Twitter-like newsfeed featuring notable content providers mentioned above, and vendors, such as TD Ameritrade, RBC Advisor Services, Folio Institutional and a host of others. My hope is these companies provide useful information, value and some entertainment … but I will not hold my breath.
In the ever-changing Wild West of the Internet, FA today has created a new distribution channel for content. It is trying to link popular services like Google Reader, Twitter, and LinkedIn Groups to create the penultimate site for IFAs. In the fast furry of each person’s day, it might turn out to be the central hub for financial advisors. See for yourself!