November 25, 2013, 5:00 am

Secrets Your Financial Advisor Should Tell You

by: The Financial Blogger    Category: Financial Planning



Most people I know deal with a financial advisor. It makes total sense since we can’t be good at everything and personal finance is probably one of the most important things in your life. If your finances are not in order, you won’t be able to do what you like and financial problems often lead to high levels of stress. This is why we all look for a financial advisor to help us take care of our personal finances. As is the case with any other job, some financial advisors are awesome while others are clowns. Let’s just say that it’s harder to find a good advisor than most people expect!


We are often stuck with very few options when its time to find our financial advisor. We either go to the bank we do business with and pick the guy or the gal who’s available or we ask our entourage for a referral. You may have been solicited as well by people who promise that they are better than who you have right now. It might be true (if it’s me calling…lol!) but how can you really tell the difference between a professional and a clown?


The answer is easier than what you think…For each industry, there are some “secret facts” known by those who work in the field and may be ignored by others. If you want to know which car breaks down more often, don’t ask the dealership, ask a trusty mechanic. It’s the same thing in the financial industry; the professional will tell you about his secrets

#1 How much he earns

The first question you should ask your advisor is how much he earns and what pays him the most. Money drives everything, once you know how your advisor is paid, then you know how he can help you… or waste your time.

#2 Should I pay my debts?

If you have money sitting in a cash or money market account and you have an outstanding debt at 6%, sound financial advice would be to use your cash to pay off your debt. Most advisors will ignore this principle since each time you withdraw money from their  your account, they lose money.


#3 Are you worth your rate?

I don’t believe the best financial advisor is the cheapest one. Your mortgage rate may be higher or your banking fees might be competitive but not the cheapest in town. However, if your financial advisor picks up the phone to advise you about finance without you asking for anything; this guy worth every extra penny you paid. Ask your advisor why he is more expensive – the right answer is “because I am worth it”.


#4  What’s good about my investment?

A good financial advisor won’t be afraid to tell you that a part of your portfolio (or even the whole investment) is well invested even if it’s with a competitor. The point is that you ask him to be honest; if you are doing the right things he must be able to tell you.


#5 Insurance is incredibly profitable

If you didn’t know yet, one of the best secrets of the industry is that insurance policies sold are incredibly profitable for the advisor (and his firm). Ask him how profitable the insurance you purchased from him is… and wait for his answer.


#6 Insurance shouldn’t be sold with fear

I’ve ran into too many insurance agents selling insurance based on the clients’ fears. Insurance needs are real, fear isn’t. Therefore, ask for a realistic proposal with numbers that make sense for you. I once saw a permanent life policy of $300K for a client who was sitting on $1M cash in his company…. What are the odds he needs an additional 300K upon his death if the company is already full of cash?


#7 He doesn’t call all the shots

Regardless of which firm your advisor works for, he doesn’t call all the shots. It’s better for him to be upfront and tell you that a credit department or a compliance board will have the final say in your application. It’s better if he’s transparent.


#8 Mutual funds are good even if they are expensive

Yes, mutual funds can be seen as expensive and they are if you compare yourself to a DIY investor who picks his own ETFs. However, when we make this analogy, we don’t consider the time and passion invested by a DIY investor to manage his portfolio. If you ask any mechanic about an oil change, they will all tell you it’s stupid to pay for that since you can do it yourself. Well, when you don’t want to take care of something, you might want to pay a professional to do it for you. This is why mutual funds can be good for investors who don’t want to manage their own portfolio.

#9 How much it will cost if you leave

Some advisors don’t have any penalties attached to their investments or mortgages while others charge a final bill if you ever leave. This is important to know the complete structure of your personal finance and to understand if you are attached to your advisor (and his company) or not. It’s not necessarily a bad thing, but you need to know before your sign-up!


#10 Why he is doing this job

I believe personal finance is more personal than financial. Therefore, the most important thing when you deal with a financial advisor is to be able to trust him and get along with his way of working. A simple question that will tell you a lot about the guy/gal in front of you is “why do you do this job?”.


Here’s my answer:

Because I love the stock market, I love to talk about finance and love even more when I can teach finance to other people.


This will tell you if he will stay in his job or not!


What else? Do you have any tricky questions to ask your financial advisor?


Readers, do you have any good questions you would like to ask your financial advisor? What do you do before you can trust him?

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November 11, 2013, 9:23 am

Patience Before the Launch

by: The Financial Blogger    Category: Make Money Online



If you ever thought of selling something, you’ll know what I’m talking about…


I have quietly mentioned on TFB that I’m working on a membership website of late. I didn’t put too much emphasis on it simply because I didn’t want to bug you with my project that has nothing to do with making money online or becoming an entrepreneur.


However, if you have ever thought of selling something, regardless if it’s on the web or not, I am now offering you my thoughts about the incredibly long process behind any product launch. I now understand why big companies spend millions on a marketing team to coordinate their launches!


Not only is it a lot of work (that you can imagine) but the worst part is to wait through days, weeks and months of working on details before the launch. This is what is truly killing me from the inside out. It’s like being pregnant and ready to give birth at 9 months but waiting 4 more weeks before you see your baby!


One thing I’ve learned during the process is that having a product is good, but building a great package and finding the right audience matters more than everything else. Anybody can come up with a product, literally! We all can change the world from our basements with a brilliant idea.


But the first question you must ask yourself is: is my idea useful for people? It is clearly useful for you since you thought of it, but this doesn’t mean it’s useful for others! In order to answer this question, your idea must answer one of the following:


#1 Takes care of a pain

#2 Improves one’s life

#3 Alleviates a fear


To be honest, pretty much everything you can think of will answer one of these “three pillars of a great product”. The point is to package it the right way.


The best example I can think of is the “Post-It” invention by 3M. Post-it stickers were invented after a failure to create effective glue. Instead of throwing this failure in the trash, 3M decided to package it differently. We all like post-it stickers that we can move from one place to another. However, we would never buy a sticker with poor quality glue that doesn’t stick around. This is why we needed to be told that the post-it was made to be moved. This is how to package an idea.


Then, you need to find your potential clients. Don’t think that everybody around you will buy your product. It’s not true! In fact, most people will likely not buy your product. As I mentioned earlier, my next product is not in line with TFB main topics. I will still make you aware it exists but my conversion rate should be very low.


It takes time to build an audience or a list of potential clients. If you don’t build your list first, you may waste a lot of time creating a product that doesn’t meet anybody’s needs. This is why I started with my idea and created a landing page with a specific mailing list subscription option. If you want to look at it, you can see it here.


It is obvious that I already have an audience to launch my product; I run several financial websites! But I wanted to make sure that I have people interested in a paid site that will provide them with information. This is why I created this new list and asked people to register for it if they are interested in hearing about my idea.


I didn’t want to spam my regular readers with a series of emails mentioning my concept and how I intend to package it unless they clearly tell me that they want to hear about it. This was the purpose of making a new list apart from all the others. I sent 4 emails so far to this list. If you have a mailing list, you know that a good average opening rate is around 30%. Here are my numbers:



This list has over 500 subscribers. Therefore, roughly 350 people opened and read these emails attentively. This is a very important sign that my package and what I offer will be welcomed by these readers. Another interesting stat is the 200+ emails I’ve received back from these readers commenting and asking questions… Definitely, I can tell that I’m close to something good now!


If you want to know how I build my mailing list and email funnels, read this series and you’ll know all my secrets.



But I’m not ready to launch yet. There are too many details left to be taken care of. The idea of your product is important and, the packaging is even more important. However, all these little details supporting your product need to be taken care of thoroughly. Don’t think you can launch and then fix them along the way.


Each time I think I’m done with one section, I ask my partner and VA to take a look around and give me feedback. Each time they come up with something new and I have to go back to the drawing board and apply some modifications.


Pictures used, navigation process, charging methods, software used, update rules, writing methodology (font, color, size, etc). These are all details that need to be perfect. I’ve spent several hours creating my email series and organizing the launch date.


I won’t lie, taking care of the details sucks. It’s not fun and you don’t get anything great out of it. No money, no traffic, not even a “thank you”. You just have to fix everything so the day you open your doors to the world, everything is perfect!



Having a deadline for any project is probably one of the most crucial parts of your launch plan. Without a deadline, you won’t do anything. You need to commit to a higher level to make sure things go along the way.


I’ve personally committed to launch my project for December 2013. At first, it was just a vague idea of launching a membership website. Then, when I came back from vacation in late August, I realized that not much had been done and that I would not be able to finish everything for December. This is why the deadline was so important; it creates the sense of urgency.


I went a little bit further by creating my mailing list and the email series. I’ve committed to myself of sending 1 email every two weeks. This technique is being used to keep the momentum about my project going, giving an update while slowly selling my concept. At one point, these people should be as ready as me for the launch!


I must also go forward with my project faster if I want to make it a success. Imagine the opposite; imagine that I wait another 6 months to launch my site? I would probable get close to ZERO sales!


On the other hand, deadlines are deadlines, nothing more. The world won’t end if you don’t make it. The key is to commit yourself to a high level so you need to work on your project every day. Then, if you miss your deadline by a few days or weeks, it’s not the end of the world either.


I’m given myself a small buffer (don’t tell my partner! Hahaha!) of launching in January instead of December. If I can’t launch in the first week of December, I’ll probably launch during the first week of January. I guess people will be more interested in buying gifts than buying a membership website subscription during the Holidays!


But my hopes are still to launch on December 1st and make myself a real gift for the Holidays!



The most important thing I’ve learned during this process is that patience is key. If you get too impatient and want to launch right away, you won’t be doing things the right way. You will likely miss some key details and sales won’t be as good.


I want to make sure that I’ve done 100% of what I could do prior to the launch. At that point, I know that I couldn’t have done things differently and will be satisfied with the results.


Do you have a product that you sell? How did (do) you plan your launch?

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November 4, 2013, 7:28 am

This is So 2012 – The Biggest Truths About Blogging Today

by: The Financial Blogger    Category: Blogging



Hey folks! Remember a few weeks ago, I wrote a huge piece about how hard it was to make money blogging these days? Well I just got back from FinCon13 that happened 2 weeks ago and heard the same song from other bloggers; Google sucks, money is hardly earned and the community is stronger than ever.


FinCon13 is a great conference where 511 financial bloggers met in St-Louis. This is the 3rd edition of the conference and I’ve been to all of them. As always, I learned a ton. Here’s my personal take of what is going on in the blogging world.


If you have any blogging friends irregardless of topic, forward this to them, it will be a great help!



My first thought on the trip back home was “OMG, the internet moves so FAST!”. That’s funny; I sound like a 60 year old that can’t keep up with technology. The truth is that I’m 32 and…. I can’t keep up with the internet! The fact that I started blogging back in 2006 makes me a dinosaur today. Forget about the whole “with age comes experience”. There is an Ice Age crashing dinosaurs every 2 years on the web so 7 years in the business is like 500 million years in the real world.


The last Ice Age happened for us in early 2012 when Google struck with his minion called PANDA. Since then, my race (thefinancialusbloggerus), is starving and constantly on the move to desperately find Atlantis, the promised land. Jeff Rose from Financial Cents shared how he strived and survived being dumped by Google in a hilarious presentation. The most important lesson learned from his speech was about what to do when you get hit by Google. I’m sharing this with you…



Yeah… not the fanciest way to put it, but it’s so true. There is nothing you can do, so you had better move on. The thing is that Google is too big and too powerful for you to do anything. The worst is that you are too small and too insignificant for Google to care about. Therefore, you can enter in an endless manual reconsideration process but it will take you several months of back and forth email before it achieves anything.


Once Jeff got over the “denial stages” and stopped thinking “Google is going to fix this mess, it’s a matter of days”, he started to hustle like a villain.


He started this huge guest post campaign to be featured on about every single blog in the financial niche.


He connected with several bloggers and went back to the basics of blogging; connect with a community.


He went further with his Roth IRA Movement, his Life Insurance Movement, his Debt Movement and his numerous video creations.


He used other ways to get traffic such as Twitter and Pinterest (he also has an awesome wife who does all the “Pinteresting”).


After all his work, after going back to the basics of blogging, after he worked like a maniac on his websites, he finally got his traffic back, and more. All this took him 12 months or so of hard work and thinking outside the box.


The most important lesson from Jeff was to “suck it up” and start hustling. If you don’t work very hard, all the time, you will get mediocre results. I’ve seen this for many of my sites which I’ve left drifting in the web ocean. Nothing good is really happening with them. This is why it is so important to keep your focus and work on things that matter… like your main blog!




Another great session was delivered by a great panel of self-publishers; Derek Olsen who wrote The Four Week Financial Turnaround, Mike Piper who is living from his 8 investment books on sale at Amazon, Todd Tresidder who wrote an Amazon top selling retirement book called How Much Money Do I Need To Retire? and Ben Edwards from Money Smart Life who wrote Get Out of Debt Like Debt Heroes with the help of 21 bloggers.


The four guys reminded me, once again, that evolution is faster than the motion. About six month ago, offering your eBook on Kindle for free for a small period  (3 to 5 days) was an amazing way to jump in the rankings and surf among the top sellers of your category. If you had a good readership (read a sizeable mailing list), you could drive enough downloads to make your book a success instantly. Well it appears that this technique is still good, but doesn’t provide the same drive as it used to. The reason? Amazon changed its ranking weight depending on the price of the book; a book sold is worth a lot more than a book downloaded for free!


However, while Amazon evolves with time, its internal search engine is similar to what Google used to be… 10 years ago. This means that keyword stuffing still works for your book description! In order to find your book in its library, Amazon has designed its own search engine where users type in some keywords to find what they are looking for. A good example of keyword stuffing is to add a sub-title to your book that includes several good keywords. This sub-title doesn’t show on your book cover and will be mostly read by the Amazon search engine and nobody else. For example, for my book “Dividend Growth”, I could add a sub-title like: A Dividend Investing Process to Invest in Dividend Growth Stocks. Not the most appealing sub-title and pretty repetitive (where you get the word “dividend” and “invest” twice in the same line). But Amazon’s search engine will pick it up and rank you for those keywords!


Mind you, by the time you read this, this trick might not even work anymore… hahaha!



Since I’m nearly working on just one thing these days (launching a membership website), I attended several “course building” or “mailing list funnel building” sessions. Steve Chou from My Wife Quit Her Job was generous enough to share his step-by-step email funnel generating a 6 figure business.


What was truly shocking was to see how he used what he learned from his first email funnel (to help his wife build his wedding handkerchief business) to build a second business (related to how to setup an ecommerce store). So he basically “copied/pasted” his funnel for his second business and the results were instantaneous.


I’m not going to “steal” his stuff and tell you about it on my blog. Instead, I’m going to tell you to register to his free mailing list and you will understand his process as you receive the emails. I think it’s the best way to learn.




Have you ever heard of creating a freemium to convert more people to your product once they have registered to your mailing list. A Free what? A FREEMIUM. Quinn from Cubicle Free was the first guy who told me about the concept. Then, I revisited the concept and more in a great presentation given by David Siteman Garland (Rise to the Top) who sells an online course about making great online interviews.


A Freemium is basically something you can offer for free that would be halfway between what’s free on the web and what you truly offer in your membership/product/online course. For example, David offers a first series of free videos on the basics of how to do the interview. This series is offered to his mailing list subscribers at no hidden cost whatsoever.


You probably know a bunch of people who register to his mailing list, “steal” his free videos and move on. From those readers, David makes zip.


However, there are others who will register to the mailing list, watch the videos and think “I definitely need more info about this; I really want to invest myself in this project”. These readers become clients and this is when David makes money.


Is he leaving money on the table because he gives stuff away for free? I don’t think so. The basic info found in his first videos is just to get you started to hold the interview. So if you are not ready to do more, you are not the right client for his product anyways. The freemium is also used to validate the interest of your potential client. If someone who’s not too sure about hosting an interview ends-up paying $500 for a course that he doesn’t really use because he bought it without thinking too much, you can be sure you will get a complaint.


The last thing I want to highlight from his presentation is the following:

Premium prices will bring in premium clients


When you think about it, the more you charge for your product, the higher the chances are that your clients won’t be jerks who expect everything for free. They are more likely to appreciate your work and effort to deliver a high end product. The satisfaction of a client doesn’t come from the product or the price, it comes from the perception of the product compared to the perception of the price paid. Nothing more, nothing less.



I’m going to stop here for today, however I have a lot more to share in the upcoming days. For now, I have to get back to my membership site and launch it before Christmas!


Take care,



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