Introducing The Modern Advisor
A newsletter about how financial advisors can build modern service models to serve modern clients.
Hi there! Welcome to the Modern Advisor. My name is Jordan Haines and this is the first newsletter I’ve ever written…
You could say I’m a little nervous to begin voicing my opinions to the world, but as I have more and more conversations with financial advisors I’ve felt the need to record some of the important topics I discuss with them.
What will I write about?
Over the last few decades we’ve seen the service model to deliver financial advice progress from selling products and emphasizing investment management to focusing on delivering real, comprehensive advice to clients.
But even as service models have changed, society seems to be changing even faster.
People just don’t view finances the same way they did even 10 years ago. Advances in technology and changes in our culture have significantly influenced the way people engage with professionals, manage relationships, and communicate with others. Even the “older” generation is a modern one - my 96 year old grandmother uses a smartphone every day to communicate with family and friends.
As financial advisors who care about our clients, we’ve tried our best to keep up with the needs of the modern client. Many innovations in technology, practice management, and behavioral management have moved our industry forward in a positive direction. However, even with this forward momentum our approach to deliver financial advice to clients has remained relatively unchanged.
Don’t believe me?
Go look at what other service industries are doing to keep up with the needs of the modern client. You’ll find advancements in communication methods, relationship management, onboarding and more.
Then compare this to financial advisors. Go ahead, pick a firm and ask them about their financial planning process. You will likely find a firm that has an intake survey with a list of documents they need before entering the data into a blackbox and creating a plan. The firm may be up to date in their tech stack, but have they thought about how their process to deliver advice to clients is actually serving their clients’ needs.
The purpose of this weekly newsletter is to provide the real financial advisor with the clarity and structure needed to serve the modern client. I hope you will stick with me along this journey!
A little bit more about me…
I’m a family man, a follower of Jesus Christ, and a “real” financial advisor. From the earliest age I’ve sought for clarity around complicated subjects ranging from religion to interpersonal communication to the ideal soil composition for Kentucky Blue Grass. As you can see, personal finance is a great place for me to spend my time.
I’ve made it my personal mission to help others find clarity in, and be present with, what’s most important.
As a CFP® I’ve spent my time in the financial advisory industry hanging out with small RIAs where I’ve served as a client services admin, a support advisor/paraplanner, and as the lead financial advisor. For the last couple years I’ve enjoyed helping launch The Elements Financial Monitory System™ where I am responsible for all training, education and coaching for advisors using the system.
In this role I’ve helped hundreds of advisors respond to the needs of their clients by building out and maintaining modern service models that make sense. As part of building out these service models we often discuss the challenges facing financial advisors when engaging the “modern” client. I think it’s time that I share some of these conversations with other advisors struggling with the same things.
Super excited to see you create a place for your thoughts on this subject to be articulated! I always appreciate your thoughts and will definitely value the further insight
Love this, Jordan! Thank you for jumping in along with us, and putting your (real) self out there. I am looking forward to see what comes next.