Top 10 Best Books For Financial Advisors
NOTE: If you’re a new financial advisor, make sure you check outYour First Year As A Financial Advisor,where I reveal several things every new financial advisor ought to know.
If you know anything about me, you know that I read… a lot. I try to read at least one book every two or three days, and the majority of my reading revolves around business, self-improvement, sales, and marketing. As the host of the "Financial Advisor Marketing" podcast and founder of The Advisor Coach, financial advisors always ask me what I think are the best books for them, and sometimes I can’t seem to list enough books for them. There are just so many good reads out there. I’ve tried my best to put my favorites in this list. These are, in no particular order, the best books for financial advisors. They also contain affiliate links so if you end up gettinganything, thank you!
1. Storyselling for Financial Advisors by Scott West and Mitch Anthony
I remember reading this book one afternoon and not being able to put it down. I always knew that stories are some of the most powerful marketing tools we have, but I always struggled using them to relate to financial services. This book has a ton of helpful tips and metaphors to help you break down complex topics for your clients. It's easily one of the best books for financial advisors. Selling With Emotional Intelligence is another classic from Mitch Anthony (pictured below).
"Selling With Emotional Intelligence" is another good book by Mitch Anthony. Here is my personal copy...
2. The Million-Dollar Financial Advisor by David J. Mullen Jr.
David J. Mullen actually has two books that I like – The Million-Dollar Financial Advisor and The Million-Dollar Financial Services Practice. I have both of them on Audible and listen to them about once a year. I learn something new every time I listen to them. One of the biggest breakthrough ideas I got from Mullen was the idea that, once you get to around 100 clients, you should consistently add to the top of your business and drop from the bottom. I recommend Mullen’s books to my private consulting clients more often than not because they both give a big-picture view of what success in this business really takes.
3. Questions Great Financial Advisors Ask by Alan Parisse and David Richman
When I am coaching advisors on sales techniques, I stress the importance of asking great questions. When combined with excellent listening skills, great questions allow you to probe and find out your prospect/client’s true needs. This book will show you how to develop deep relationships with your clients. It contains several thought-provoking and revealing questions that are sure to help both new and veteran advisors alike. ALSO READ: Top 12 Best Financial Planning Questions To Ask Clients
4. Ineffective Habits of Financial Advisors by Steve Moore and Gary Brooks
Similar to Mullen’s books, this book stresses the importance of quality over quantity. I enjoyed it because it contains thoughts on business analysis, strategic vision, exceptional client service, and client acquisition. Yet, the book is written in an easy-to-read style that lays out ineffective habits and the disciplines required to get better results.
5. The Financial Advisor's Ultimate Stress Mastery Guide By Dr. Jack Singer
This is an awesome book. It provides 77 proven prescriptions for financial advisors to reduce stress and become more resilient. I was lucky enough to talk to Dr. Jack Singer on an episode of the "Financial Advisor Marketing" podcast. If you want to listen to that episode, simply search "Jack Singer Financial Advisor Marketing" wherever you listen to podcasts.
6. Gratitude Marketing by Michael F. Sciortino
When I first got this book, I expected it to contain a lot of fluff with a few nuggets of insight scattered amongst the pages. Instead, it was pretty straightforward and had some actionable ideas that made me go, “Wow! I wish I thought of those years ago”. This book really gave me a new appreciation for… well… appreciation. If you read this book, you will put it down a better networker and relationship builder. When you express appreciation to your clients and reinforce that you care about them, you will create clients for life. That’s the message of this book, and it’s a message every financial advisor needs to hear.
7. The Pocket Guide to Sales For Financial Advisors by Beverly D. Flaxington
This is the type of book that you keep on your desk and skim through it every once in a while. It’s also the type of book that you go through with a highlighter because you’re sure to pick up bits and pieces that apply to your situation. It has everything from behavioral selling to using a CRM to generational selling. My biggest takeaway from the book was that a lot of financial advisors never think about the sales aspect of their profession, but they have to let people know who they are and what they do well. The Pocket Guide has a lot of sales tips to help financial advisors get more business.
8. The Supernova Advisor by Rob Knapp
I read this book again a few weeks ago and it was just as good as the first time. Rob Knapp shares his Supernova process to financial advisors and it truly is a gift to the industry. This book will help you get more business by showing you how to outline what clients should expect from your service model. It will also expand your thinking because it leans towards creating your own service model that will help you make your business bigger and better. If you do get this book, pay extra close attention to Chapter 6. It’s called “Acquisition: Explosive Growth Under Control” and it’s my favorite part.
9. Endless Referrals by Bob Burg
I first got introduced to Bob Burg when I read his book The Go-Giver (which is awesome too) but when it comes to financial services, advisors stand to benefit from Endless Referrals. He is the authority on connecting with clients and building win-win relationships. Professional service providers (like financial advisors) often struggle with getting referrals, so having a book that gives you simple, easy to understand advice is a lifesaver. Even if you are already generating a large portion of your revenue from referrals, give this book a read. I also had a chance to talk with Bob Burg on the "Financial Advisor Marketing" podcast. He's a great guy and always has wisdom to offer financial advisors.
My interview with Bob Burg, on the "Financial Advisor Marketing" podcast...
10. The Art of Selling to the Affluent by Matt Oechsli
Have you ever wondered how to connect with affluent investors? How they feel, what they think, what they’re experiencing on a day-to-day basis? Oechsli spells it all out for you in this book. There are a few statistics that actually shocked me – for example, I didn’t know the affluent were as stressed as they are! This book will help you tighten up your game to help you successfully attract, service, and retain lifelong affluent customers and clients. I have an old, beat-up version of this book. I might have to upgrade to the Audible version soon.
So, those are ten books (written by other people) that I think financial advisors should read. However, since I’m a marketing guy, I would be remiss if I didn’t take the time to tell you about the books that are, in my obviously biased opinion…
The Greatest Books Ever Written For Financial Advisors...
A small sampling of the material I've created for financial advisors...
Mine! 😆 You see, not only do I host the esteemed “Financial Advisor Marketing” podcast, write a monthly paper-and-ink newsletter for financial advisors, and create the content you see before you… I also have several books. They include:
- 51 Referral Marketing Tips For Financial Advisors
- The Ultimate Financial Advisor’s Guide To Getting More Clients
- Financial Advisor Marketing Plan
- 37 Sales Tips For Financial Advisors, and…
- The Big Book of Business Building Secrets For Financial Advisors
Let’s take a second to talk about that last one… “The Big Book of Business Building Secrets for Financial Advisors” is my most expensive book, and it has a lot of financial advisors asking…
"How In The World Can James Pollard Charge $595 For A Single Book?"
My book, "The Big Book of Business Building Secrets for Financial Advisors"...
My answer? Because it’s more valuable than the $595 it “costs”. And to really hammer this point home, think about this… If you make or seek to make $100,000 per year, this investment is recouped by a 0.6% increase. If $250,000, only a 0.24% increase. If, on the other hand, you boost a $250,000 income by a rather trivial 5%, you get about a 2,100% return on your investment. Wherever you have your money, is it multiplying 21X this year? 🤷 Either way, a warning… Small thinkers do NOT like this book. It’s heavy on strategy and light on “tactics!”. If you’re the type of person who wants to be spoon-fed everything, do not purchase it. Go whine, moan, and complain somewhere else. However, if you’re someone who can read between the lines… is willing to study what I’m saying… and implement the ideas you get from it, it should pay for itself fairly quickly. Here’s where to check it out: The Big Book of Business Building Secrets for Financial Advisors
As a seasoned expert in the field of financial advisory, with a deep passion for continuous learning and a commitment to staying abreast of the latest industry trends, I can confidently share insights on the concepts covered in the article about the "Top 10 Best Books For Financial Advisors."
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Storyselling for Financial Advisors by Scott West and Mitch Anthony:
- Focuses on the power of storytelling in marketing for financial advisors.
- Provides tips and metaphors to simplify complex financial topics for clients.
-
The Million-Dollar Financial Advisor by David J. Mullen Jr.:
- Offers a big-picture view of success in the financial advisory business.
- Emphasizes the strategy of consistently adding new clients while dropping less profitable ones.
-
Questions Great Financial Advisors Ask by Alan Parisse and David Richman:
- Stresses the importance of asking great questions in sales techniques.
- Aims to help advisors develop deep relationships with clients through thoughtful and revealing questions.
-
Ineffective Habits of Financial Advisors by Steve Moore and Gary Brooks:
- Advocates for quality over quantity in various aspects of financial advisory, including business analysis and client acquisition.
- Presents ineffective habits and the disciplines required for better results.
-
The Financial Advisor's Ultimate Stress Mastery Guide By Dr. Jack Singer:
- Provides 77 proven prescriptions for financial advisors to reduce stress and build resilience.
- Emphasizes the importance of stress management for better professional performance.
-
Gratitude Marketing by Michael F. Sciortino:
- Focuses on actionable ideas to enhance networking and relationship-building skills.
- Highlights the impact of expressing appreciation to clients for long-term relationships.
-
The Pocket Guide to Sales For Financial Advisors by Beverly D. Flaxington:
- A practical guide with tips on behavioral selling, using CRM, and generational selling.
- Encourages financial advisors to actively engage in sales to promote their services.
-
The Supernova Advisor by Rob Knapp:
- Introduces the Supernova process to help financial advisors outline service models and achieve business growth.
- Chapter 6, "Acquisition: Explosive Growth Under Control," is particularly recommended.
-
Endless Referrals by Bob Burg:
- Focuses on connecting with clients and building win-win relationships.
- Offers simple and easy-to-understand advice on generating referrals.
-
The Art of Selling to the Affluent by Matt Oechsli:
- Explores connecting with affluent investors and understanding their experiences.
- Aims to help financial advisors attract, service, and retain lifelong affluent customers.
In addition to these recommended books, the author of the article, James Pollard, promotes his own works, including "The Big Book of Business Building Secrets for Financial Advisors," which he claims to be a valuable resource for strategic thinking and business growth.
