I felt the same exact way about the old-fashioned way of doing business. It feels cold and inauthentic. I don't like the way you basically have to beg. Josh hits many great points. People want to do business with someone who actually provides good value, and will willingly refer you because they like you!

@JoshOlfertCFP

2 жыл бұрын

Love this! Great summary.

@jazminetorres4331

10 ай бұрын

Owk

@jazminetorres4331

10 ай бұрын

Pe

@jazminetorres4331

10 ай бұрын

Owi

@jazminetorres4331

10 ай бұрын

Wkkwmek🎉🎉❤❤❤ 😂 wmwowowow

Online content is key to getting your name and face in front of potential prospects. Excellent point and well-done video.

I agree I worked for Wells Fargo for a long time as a client associate and watched how the FAs there worked. Started my career now as an FA and biggest obstacle is building my book of business

I am so happy you made this video! It is great to see an other advisor in my generation making sense of this business with how things are in the world today! I am a solo financial advisor in my second year and it is so rewarding and challenging at the same time!

@JoshOlfertCFP

2 жыл бұрын

Thanks for the comment Bo! We’re all just trying to figure it out.

Thank u for sharing your knowledge. I actually don't know what job to start on after grad or should I pursue careers related to my course (currently on 4th year financial mgt. student). And yeah, I think being an financial advisor is a great opportunity.. I should study more and more and I'll be looking forward to your vids

These are some really great tips and honestly encouraging for someone who is considering switching careers. I remember the days of cold calling in my sales days and asking for referrals and you are right, it sucks. Same with the “networking”. great tips man.

Wow, I'm so glad I found this channel! Your content is so relevant and valuable! I'm considering a career change from retail banking into the world of financial advisor, excited but nervous. I love how you break down the older methods verses what works in today's world. I really want to bring the social media world to my role, but need to learn all the rules and guidelines first. One question, I notice this channel is simply under your name. Do you recommend that or coming up with a clever yet professional nickname? I want to put myself out there as different but make the right statement.

Awesome video! Very up to date on what advisors are doing now. Thank you for this!

This was great, considerate, up to date and humanitarian. I’ve thought about of these things and they would get shot overall. May you be blessed in all the good you do💪

@JoshOlfertCFP

2 жыл бұрын

Thank you!

I agree! Letting go of the attachment 😊

As someone who is obtaining his license and becoming a financial advisor I enjoyed the video and the tips and knowledge of this.

excellent approach to business! liked and subscribed 👍🏼

Thank you for a great content. Next week I’m going to do my financial exam. Wish me luck ❤

I'm have my first interview on this coming up Wednesday and I just subscribed! I'm changing careers from the car business to the financial service sales industry and I'm really excited to learn the the ropes and get educated to propel my life forward in to this career opportunity thank you for the videos man!

@jabeestonbox

2 ай бұрын

how did it go?

This is 100% lit! I especially appreciated the comment about networking. Great video!

Hi Josh, thanks very much for the advice, I’m through to the final interview for Associate Investment Manager position next week and it revolves around this topic!

Lovely. Thank you for the knowledge. I'm heading for an interview today as an aspiring financial adviser and I probably will blow them away.

@JoshOlfertCFP

Жыл бұрын

Best of luck!

That was really good info. Thank you Josh! And great job of growing that fast within 5 years.

@JoshOlfertCFP

2 жыл бұрын

Thanks for the feedback! I appreciate it CL.

Amazing video, Josh! Your content is really priceless. Your clients will continue to recommend you because you made it clear to them the importance of your product and service. Kudos!

Some great tips here particulary around digital marketing, being social, creating value for clients, and especially reciprocation

very insightful and agreeable! Thank you!

@JoshOlfertCFP

2 жыл бұрын

Thanks for watching!

So happy that I have discovered this channel. I am a senior at Ohio State who is studying Financial Planning and is getting ready to go out into the field. Thank you for the great advice!

@5335yanger

2 жыл бұрын

Oh my god same! I just graduated from college, studying my series exam before I start my job as Financial Advisor, I’m excited but also scared lol hopefully I survive the first year

@JoshOlfertCFP

2 жыл бұрын

Unreal! Thanks Max. Hope you find them useful!

@JoshOlfertCFP

2 жыл бұрын

You too Justin!! You're the man. Its good to know the truth going in! You're more likely to stick with it.

Fantastic video Josh thank you so much for this information!

@JoshOlfertCFP

Жыл бұрын

Stay tuned there’s some really good stuff coming this week!

Interesting! Thank you.

I just discovered you, and have been watching your videos for the last few days. Outstanding content and information. In my 2nd year of financial service, and I absolutely love it. Would love to hear your input on creating content for Facebook and LinkedIn. I am not allowed to do videos or KZread. Trying to find all of my options. Thank you so much for this video!!! Extremely helpful, informative, and encouraging!!

@JoshOlfertCFP

3 жыл бұрын

Welcome here Shawn! Thank you for following along - I appreciate that. This is probably the biggest reason I went independent. Its hard for young people to succeed in the business without being able to leverage social media.

Your videos are very useful and provide lots of information. I have received lots of help after watching this post, please continue to share this kind of information. Thank you.

Amazing video, Josh! Thank you for sharing the incredible insight! Super encouraging and real at the same time. Excellent advice and excellent haircut. Keep it up! 😎👍

@JoshOlfertCFP

Жыл бұрын

Hahahahah! Thanks so much Connor. I appreciate you taking the time to watch.

This is good info. Thank you

Great video, Josh. Thanks for sharing!

@JoshOlfertCFP

2 жыл бұрын

Thanks for watching!

Great video! I'm 24 and started my investment company as soon as I get out of high school. My partner and I decided to open a cafe in order to get in front of people because the old fashion ways of recruitment just simply don't work anymore! We're happy to say we have finally hit 20M in assets but due to the pandemic have had to shut our cafe down and look to other routes of recruiting clients. I must say everything that you said is spot on. Creating unique content on social media and just simply being a social person is the new way of being successful in the industry. Good luck to you and I will certainly be following your content!

@JoshOlfertCFP

Жыл бұрын

Thanks for this Nick! I really appreciate you stopping by.

Really helpful! Thank you.

@JoshOlfertCFP

2 жыл бұрын

Glad it was helpful Tony! All the best!

I'm a new advisor! this was really helpful. Thank you

@JoshOlfertCFP

2 жыл бұрын

Love it! Thanks Alexander.

Awesome video!!

Totally random but what’s the box set on your right? Love me a good looking box set to add to my bookshelf

Calling does work. If you’re good at it. Even to this day but good point.

What a great advice, subscribe without a question. I'm starting to get interested in this profession

@JoshOlfertCFP

2 жыл бұрын

Thanks Joao! I'm glad you found it useful. Best of luck!

Dude great advice I have a whole market of investors that just need that push on Facebook.

Hi Josh, thank you so much for this motivational content,i recently started the financial advisor career yesterday, already i can feel how challenging it is, and our business still uses the all methods of getting clients, i will apply your advise on my business, thank you so much

@JoshOlfertCFP

Жыл бұрын

So glad you found it useful! More new content coming later this fall.

@millisentmcetwa7404

Жыл бұрын

Hey Sicelo. Please let me know how your progress is going?

Thanks man. Good stuff.

@JoshOlfertCFP

2 жыл бұрын

Appreciate it Caleb. Glad it helped!

Wow!.. can you train me Sir Josh. Aspiring Financial Advisor. You are the best

So your AUM per client is about 40k (12M/300)? Does that affect how you are able to price your services / how involved you are and how often you check in etc?

Hey Josh, great video! Am I allowed to send cold emails to prospects that I never talked to before? Is there any compliance issues?

Hey Josh! Quite an impact this video did on me. Recently i found out a job opportunity as investment advisor (or consultant) in an investment banking and i got the job (didn't started it yet, but next month i will sign the contract). And when they started explaining my daily tasks i remember that I asked immediately if i could meet the clients outside the agency. Because they always said that i needed to do calls (a lot of calls) and I just thought "how bad will it be for the client to have to deal with me on the phone, trying to close a deal?" And now that i saw this youtube video I was like "OMG, EXACTLY, RIGHT?!" I mean, is so outdated to aproach people that way. So, since you have a lot of experience on this business, what kind of advices you could give to someone who's starting now, and is doing it for an investment bank that uses some of those outdated strategies. Thank you for the video and i'll be waiting for some answer, even if is from anyone who's reading my comment and already have experience in this field. Thank you!

Thanks for the realistic numbers. 10-12 million in 4-5 years is mostly the pace I'm going at. In year 2 right now. A lot of people will act like thats way too slow, but fail to mention they bought/inherited clients or have family with $$$ to get them much more clients, faster. It's a slog. There's a reason no young people want to do this job, it takes a really long time to get there and its very difficult at times

@JoshOlfertCFP

2 жыл бұрын

This seems bang on to me. Most successful young advisors grew up in uber wealthy circles or had a parent who’s book or network they’re inheriting. It’s a total slog. But you look like a young guy as well, Zach. What guys like us have to keep in mind is that even 90% of the wealthy aren’t wealthy until their late 30s or 40s. Add to that compounding barely even plays a role for us yet (for an advisor with $100M the market alone probably brought them $15M in 2021). In essence we’re forging a network and goodwill now but the reward only catches up much later. Stay strong 💪🏽

@MB-xv7er

Жыл бұрын

That doesn’t seem slow. Is millions really possible in five years? That seems fast to me

How does the online content play with compliance?

Very insightful

@JoshOlfertCFP

2 жыл бұрын

Appreciate your support of the channel over the past week Kevyn! Great to have you.

This is exactly what i need. Finishing my degree and got an in at Edward Jones. Getting some knowledge before starting

@JoshOlfertCFP

3 жыл бұрын

🙏🏽

@Bigjimi6was9

3 жыл бұрын

@Brandon Davidson I Honestly dont know. I just told my person I wanted to be a financial advisor

I completely agree! My problem is my firm limits all social media to two platforms and the compliance rules are such that it takes forever to get any custom content approved. I feel awfully handcuffed. Need to figure out a solution to that.

@Joshuatlong

3 жыл бұрын

Same boat my friend, I know the feeling all too well...

@JoshOlfertCFP

3 жыл бұрын

You guys are totally right. The biggest problem that made me switch to independent was that I was handcuffed on the marketing side. Its not completely necessary for success but its massively helpful. Finding a way to free yourself to market how you want is definitely something worth trying.

@GamerMedic1

3 жыл бұрын

@@JoshOlfertCFP We got the Josh squad here. (I'm the 3rd Josh in this conversation. Hell yeah.) Josh O, thank you for validating our feelings! I thought maybe it was just in my head, but after looking at things more closely I can see why you made the move. As soon as I figure out how to actually do this, I'll build my own firm like you. But I'm just starting and I'm waaaaay to green to have any idea of what I'm doing. Once I learn this job well enough I can articulate the failures and see the solutions, I'll know I'm ready. Cheers brother.

I go live as an Financial Advisor in 30 days ! Love your videos !!!

@JoshOlfertCFP

Жыл бұрын

Let's go! Best of luck.

@Alligator_fruit

4 ай бұрын

I’m looking into being a financial advisor for a career, how has the first year gone?

They key in lead generation is content! Quality content

What about the free dinners? I get the post cards in the mail all the time

I’m 14 and thinking about going into a job like this after college and my eyes lit up when you said cold calls aren’t necessary.

@JoshOlfertCFP

Жыл бұрын

It's an extremely inefficient way to find clients in 2023.

@shahzar9382

Жыл бұрын

@@JoshOlfertCFP In your Industry of course.

@user-oc7ox2pl1w

Жыл бұрын

Samme I'm 14 also want to be a financial advisor

Been watching your videos the last few days man! Great content!! I’m a KZreadr as well and I’m officially starting my job as a financial advisor job this Friday 💪🏼 Keep killin it brother!

@JoshOlfertCFP

3 жыл бұрын

Amazing! Thanks Dylan!! Cheers.

Great video , what are your tips on follow up strategy with a prospective client and also reconnecting with an existing client to pitch more products / investments.

@JoshOlfertCFP

Жыл бұрын

This video! Financial Advisors: AVOID My $100,000 Marketing Mistake kzread.info/dash/bejne/ZIiux7dwn7e6idI.html

10mm in assets and 300 clients makes me wants to stick a fork in my eye repeatedly. Thankful for people like you who have the patience for that. Those clients need help too!

@JoshOlfertCFP

2 жыл бұрын

Lol! Its more like $11M with 70 (then $2M with another 170) - but if you’re an experienced advisor that’s hardly better 😂 Lots of work to do.

@mattcook8594

2 жыл бұрын

@@JoshOlfertCFP 80/20 rule man. You could get rid of 2 million in assets and free up almost 60% more time to find ideal clients.

@JoshOlfertCFP

2 жыл бұрын

If our positions were reversed I’d recommend the exact same thing to you! You’re 100% right, but there’s nuance. Should all 170 of them be there, probably not.

@mattcook8594

2 жыл бұрын

@@JoshOlfertCFP I’m not entirely sure I understand your comment. But either way, that’s the beautiful thing about this business. We are all able to build our practice the way we see fit and that best suits us! 👍🏼

@JoshOlfertCFP

2 жыл бұрын

@@mattcook8594 All I'm saying is that if I was an established advisor with a big book and Josh Olfert came to be telling me the bottom 70% of his book made him 15% of his revenue I'd tell him to get rid the 70% tomorrow lol! But in my seat I see it so differently. I'm 25. My average client in that bottom 70% is 27 and just starting out. Where I sit I see the relationships I share and the potential that bottom 70% contains and I'd never let them go (on a qualitative or quantitative basis). (For instance, FV @ age 65 if I never add another client = >9 figures)

I’m trying to be a financial planner and I’m really nervous

Nice video

I just became an FA and my biggest obstacle at the moment is prospecting mainly on social media due to covid more exposure is available now using online platforms.

@JoshOlfertCFP

2 жыл бұрын

You’re not alone Sandra! That’s is ALWAYS the big obstacle in the first two years. You have to stick with a marketing method (social media, content, cold calling, networking … whatever it is) for at least 18 months before it really starts to bear fruit. If you’re in it for the long haul, don’t lose faith!

@sandrafernandes5702

2 жыл бұрын

@@JoshOlfertCFP thank you so much I thought I was the only on going through this, Just started in my career as an FA and trying to think of every way to market myself on social media as well as outside.

I’m not finding you on the CFP verification website or his company’s adv on the investment adviser public disclosure website….I trust but verify…any help KZread?

I'm a hater by nature, but i have to admit, your channel really does give solid relevant information. I'm new here but I'm learning a lot.

So glad i found you.

@JoshOlfertCFP

Жыл бұрын

Glad I found YOU!

@Iamaprilkimiya

Жыл бұрын

@@JoshOlfertCFP just when I’m undergoing the process of choosing a firm to work at.

@JoshOlfertCFP

Жыл бұрын

My recommendation is usually to go RIA/Independent! Or at least work towards that. Also, hop on the newsletter in the bio. That's where a I share a lot of the insider success tips.

@Iamaprilkimiya

Жыл бұрын

@@JoshOlfertCFP that’s the goal. The only problem is I’m transitioning out an army. I have no experience and I am pursuing my SI but I do understand in order to get other licenses. I need a firm. I will sign up for the newsletter.

I kick myself because I feel the same on all of these points. I tried to fit into the mold of old school things and I feel it resulted in 6 months of mediocrity. Great content! Keep it up.

@JoshOlfertCFP

Жыл бұрын

Better late than never! Thanks for watching.

Hey Josh, I am just getting into the industry and am hitting a wall. How long did it take for you to break through that wall?

Free advisory never works. Makes u look cheap needy and trying hard. I was number one derivatives broker at the biggest Greek securities company If u want to succeed just go out there with no fear and talk to people but from a solid position. I totally agree about what was said about networking

@JoshOlfertCFP

2 жыл бұрын

Agree totally! Really didn't mean to say take clients on for free. I simply meant to help people and answer their questions for free when they reach out. If they want your services that means you should be charging.

For the blogging and KZread videos. It’s not compliant with my firm, any other ideas for producing content as an advisor?

@JoshOlfertCFP

2 жыл бұрын

That's the entire reason I had to go independent. It gave me an edge over all the others who were regulated to death by their dealer firms. I know that predicament well. But yes, there are ways. In Canada we have something called AdvisorStream. There are other platforms like this you can use for compliant content curation. Its not perfect but its better than nothing. Lastly, you could consider making content about something you're passionate about that loosely or unrelated to financial advice. I don't imagine they can regulate your ability to produce unrelated content online.

What ways did you socialize and meet people? Do you think business networking groups are a good idea how would you be intentional about meeting new people just to build connections?

@JoshOlfertCFP

2 жыл бұрын

In my view business networking groups are a waste of time and money. Real networking is about: 1) Building genuine relationships that you'd want even if it wasn't for business, 2) Providing value and being useful to others foremost, then .. 3) Having the patience and faith to see it come back around and no bad blood when it doesn't. True networking has no intentions.

@JoshOlfertCFP

2 жыл бұрын

Lastly, some tactics: 1) What do you love to do? Join a club for that thing. (eg. Country Club) 2) Coach, Teach or Help Guide (eg. Coach a sports team) 3) Become a regular at different establishments (eg. Cafe, Restaurant) 4) Get close with your most social friends and go out with them 5) Do these sorts of things for 5 years. Time is really the trick.

how would you start your career? i really want to change careers into finances because it's something i have a great interest for, I've been doing lots of research on it for a few years now so I feel like I know my stuff pretty well but I have no clue how I could actually start my career, will I need to go to school or is the CSC or something similar enough to get a job as an advisor? How did you start?

@JoshOlfertCFP

3 жыл бұрын

Hey Justin! Its always been my view that school is overrated in this career. Some of the most successful advisors don’t have any college/university training in finance. It comes down to being massively curious, learning everything you can and then getting the appropriate licenses and credentials (CSC, CIM or CFP, etc). No college required.

@justinc2633

3 жыл бұрын

@@JoshOlfertCFP That's really good to hear, I'd love to be able to change careers without stopping to go to school. Thanks for the reply!

@sukantkumar9220

2 жыл бұрын

@@JoshOlfertCFP Hi Josh. I want to work with you. How can I reach out you?

@sukantkumar9220

2 жыл бұрын

@@JoshOlfertCFP Hi Josh. I want to work with you. How can I reach out you?

Hay quá

I'm trying to figure out how to get financial advisors as my clients because I'm an ETF wholesaler!

@JoshOlfertCFP

2 жыл бұрын

Awesome! Find any truthful way possible to make them look good in front of their clients and give them a great narrative and storyline to communicate (in laymen's terms) why you're the best. If you can't, change companies! (Maybe you weren't asking for my perspective but I offered it anyways lol)

One question I have is how to get over the fear of meeting with clients. I’ve noticed that I get extremely nervous when trying to present to a client and it’s something that keeps me from staying motivated to get clients cause I get so nervous. I know it’s something I have to overcome

@JoshOlfertCFP

3 жыл бұрын

In all likelihood it means you’re just too attached to the outcome. Focus on your process and becoming the smartest and best version of you that you can. Luck and skill both play a role in landing a client. So you have to maximize what you can control and then release your attachment to the outcome.

@brandondelapena7480

3 жыл бұрын

@@JoshOlfertCFP Preciate it!

What type of investments do you offer? Alternatives or traditional?

@JoshOlfertCFP

Жыл бұрын

90-95% traditional!

you don't actually have access to a Bloomberg terminal right? Why would you need one?

@JoshOlfertCFP

Жыл бұрын

No, certainly not 😂 - and you’re right. I don’t need one, at all.

For posting stuff online, would that inhibited by being affiliated with a firm?

@JoshOlfertCFP

2 жыл бұрын

If you’re bringing in the business, the firm will bend over backward to make things work for you. With that said, I can’t pretend there aren’t serious hurdles to overcome when starting a content platform within a regulated broker/dealer. However most regulators are starting to wake up slowly and it will get easier in time.

@Preston_Rowe

2 жыл бұрын

@@JoshOlfertCFP thanks for the info!

Can you recommend some books that add value to this job?

@JoshOlfertCFP

Жыл бұрын

jolfert.com/reading-list

Doesn’t alot of what your say go against Finra and SEC rules? Pertaining to making online content?

@JoshOlfertCFP

2 жыл бұрын

I'm in Canada! Different regulators.

How do you provide value if you have no portfolio? How do you get your first few clients if you have NO value?

what if you cant create online content, company restricted

So this is the career I’m looking for if I’m into giving financial advise? 👀

@JoshOlfertCFP

2 жыл бұрын

Yes! But the route you take to this career depends on your to be sales and client relations versus just pure advice. In the latter, might be best to start with an established advisor or big institution.

So is your average house hold account is 33K?

@JoshOlfertCFP

Жыл бұрын

At the time of that recording, yes. We've since made some changes in our business but that number is still only about $83,000. This is mean, not median. A have a pretty big chunk of younger high potential clients who are paying off student debt, just put a massive down payment on a home, etc. These are people who are contributing thousands per month but are starting from $0. The bulk of our day to day business activity is working with clients between $100,000-$750,000.

@noahcmorgan

Жыл бұрын

You use. monthly retainer model?

80 clients and less than $1M is AUM?! wow!

@JoshOlfertCFP

2 жыл бұрын

Yep! Absolutely terrible. It was survival mode.

Do you work for a firm or are you RIA?

@JoshOlfertCFP

3 жыл бұрын

I would be considered an RIA, but I operate in Canada and we’re not classified as “RIA” here. We’re an independent advisory business though, certainly.

As a registered advisor are you allowed to give out free information?

@JoshOlfertCFP

2 жыл бұрын

Yes. But I can't sell things I'm not licensed to sell or give recommendations without knowing about the client.

plzzz guide me to earn ... i m financial advisor

Did you say 10 million AUM, for 300 clients?

@JoshOlfertCFP

2 жыл бұрын

Lol sounds crazy right? Now its $14M on 190. We've done a lot of work to address the concern I imagine you're going to raise. Still nowhere near a more senior advisor, but I'm just a 5th year who started taking clients from $1 when he was 19.

Aside from that, lacking of gadgets :( haayyy where to start

You have 300 clients and only 10M AUM..? Average account value of 30k is wild, you need to start taking 100k+ accounts. How could you possible manage accounts for 300 people by yourself (unless you are not managing them, then what is the point.. lol) ?? If I was a prospect I'd be quite nervous to be client #301.

300 clients and 10m?

300 clients only 10M under management? What am I missing

This guy must have clients, look at that hair!

@JoshOlfertCFP

Жыл бұрын

Hahahahahha

$12m AUM for 300 Clients?

@JoshOlfertCFP

Жыл бұрын

Crazy right? Mostly a consequence of taking whatever I could as a 19 year old in the early days and getting as many reps as I could. As of today it's closer to $20M with 170. Trending in a more scalable direction. (And in preliminary talks to make it $35M with 240 but that's hypothetical for now).

@JJ-zo8sh

Жыл бұрын

@@JoshOlfertCFP best practace in the UK would be to have no more than 100-120 clients. how did you find it as a 19 year old? Makes sense as to why you would take on as many as you could. Do you have no plans to pass off your lower value clients to other advisers? Do you speak to every client at least once per year?

“Call the ppl in your contacts” Wtf, is this position like Vector??

@JoshOlfertCFP

Жыл бұрын

I have no idea what Vector is but if it involves building your own clientele and getting canned if you never hit your targets ... then yes lol!

@jamesrusso72

Жыл бұрын

@@JoshOlfertCFP Vector produces USA made knives. In that group interview they said whoever writes as many names and numbers down under 3 min gets a Hershey’s bar. Never went back after that day. Today I declined an interview for a Financial Representative/advisor for northwestern mutual. I’m not going to go through my own contacts to call people and ask if they want to make an investment. I appreciate that you have a channel for this topic

Church is a great place to get clients, no church goer would screw you!

You should stop pushing your head and shoulder downwards when you speak. Would help the delivery

Josh you have some great videos. I started in the life business in 2009. 5 years ago I started with my series 65. Its been extremely tough for me. I'm going to watch all your videos and learn all i can from you. I"m trying go virtually. Any videos or Infor you can share on that would be great. Also....Do you do alternative investments? Thats my main focus and maybe that could be part of my problem. I'm always looking for accredited investors. Anyway great job. Shane

talks to much without coming to the point !!!!!

@JoshOlfertCFP

Жыл бұрын

Some people want more, some people want less! Thanks thought. I’ll try to cut more filler.

Hope I can get more tips to you…I’m a fincial advisor my company is sunlife canada

@JoshOlfertCFP

2 жыл бұрын

More on the way! Thanks for watching.

I’m starting my new career as a financial advisor as well and I do want to get back into hiring a marketing team to help me out; I did this with Nordstrom by them helping me out with LinkedIn do you think this is a good idea as well?