Hi everyone, welcome. We are going to share with you the top Financial Advisor books that have been specially selected by our team of experts.
We guarantee you that this great piece will provide you with the list and a short preview of the best and most relevant books necessary to boost your career.
Hence, we want to share with you:
Keep reading.
The Million-Dollar Financial Advisor by David J. Mullen Jr
In this book, David J. Mullen Jr. shares practical advice to help Advisors yearning to make $1million annually to reach that goal.
The book outlines 13 step-by-step financial advice to help Investment Advisors excel in their careers.
It’s a compilation of 15 interviews with high-performing Advisors the author interacted with within his 30 years of experience as an advisor.
The Advisors share their secrets about earning more than a million annually.
The book covers universal financial service principles that Advisors can implement to build million-dollar businesses.
It talks about developing a long-term approach, adopting a Top Advisor mindset, and building client relationships, among other vital areas.
Further, the book shares two case studies of top-earning Financial Advisors who implemented the 13 success principles.
This is one of the best financial books to read, especially if an advisor wants to take their practice to the next level.
Storyselling for Financial Advisors by Scott West
This book highlights the importance of using storytelling to win clients over.
Scott West says that it takes logical reasoning for an advisor to convince a client for a meeting, but the only thing that will convert them is the emotional connection.
This book takes the art of selling to the next level, as it not only uses stories from renowned individuals like Warren Buffett to put the points across and demonstrates how Advisors can connect with clients.
The book is an excellent fit for an Advisor who struggles with connecting to clients personally since it focuses on using storytelling to market financial services and sell investment products.
Start With Why by Simon Sinek
Simon Sinek’s Start With Why is an inspirational book that talks about how businesses almost always focus on what they do and how they do it more than why they do what they do.
However, most businesses, such as financial service firms that depend on people’s relationships, would do better if they focused more on why they do what they do.
According to Simon, customers are more likely to buy if they resonate with why a business does what it does.
Why is that?
Since there are so many options in the market, people buy from businesses that they trust.
That is to say.
Businesses attract particular market demography that can relate to their why.
These are the clients who end up voluntarily advocating for the business’ brand in their circles.
The book has a variety of stories that would prompt Financial Advisors to define their own why.
Gen-Savvy Financial Advisors by Cam Marston
Usually, books that focus on generations’ trends give a broad overview of the differences, but not Gen-Savvy Financial Advisors.
The book is written explicitly with the financial services industry in mind.
The author, Cam Marston, is a renowned researcher on generational trends and also a public speaker in the same field.
The book takes a deep dive into the notable differences between baby boomers, Gen Z, and millennials.
Marson notes that while baby boomers may be interested in the history of an advisory firm, Gen Z responds well when the Financial Advisor is honest.
And instead of talking about how far the firm has come, they prefer it if Advisors cut to the chase and hit the nail on the head.
On the other hand, millennials will probably be won over if financial professionals communicate on time and leverage technology.
This book has thought-provoking information on how financial services can leverage what sets the different generations apart to attract specific demography.
Gen-Savvy Financial Advisors is a good read for financial firms to attract a different generation from the one they are already working with.
Succession Planning for Financial Advisors by David Grau
What is the best way to learn about succession planning in an advisory firm than from an expert who has facilitated over 5,000 valuations?
David Grau has a wealth of experience in executing succession plans in financial advisory firms.
In this book, he shares his expertise regarding the best succession practices.
The book talks about the time frame and structure of a succession plan.
It also covers all the aspects of a firm that should be adjusted to make the transition smooth.
More importantly, the book sheds light on the processes that ensure a smooth financial transition.
Succession Planning for Financial Advisors is the best book for financial professionals thinking of succession or those in the process.
E-Myth Revisited: Why Most Small Businesses Don’t Work by Michael E. Gerber
This book demystifies two things.
First, the assumption that people who start businesses are entrepreneurs.
And secondly, people with technical skills in a particular field are most likely to do well if they start a business in that field.
The author gives an outstanding example of a pie maker who starts their own pie-making business, realizing they are good at making pies.
But since they only have skills to work in a business, not on one, they end up failing.
This is for the simple reason that despite having the skill sets to make pies, they don’t have the skills to manage a pie business.
The same applies to Financial Advisors who are adept at developing financial plans but don’t have the skills to manage an advisory firm.
The author outlines how technicians can change their mindsets and learn about running a business.
The book will be an eye-opener for Financial Advisors with a vision to start their practice.
Communication Essentials for Financial Planners by John Grable and Joseph Goetz
It’s interesting to note that despite the financial planning profession being a people-centered industry, the CFP Board financial planning curriculum is centered mainly on the technical knowledge aspect of financial planning services.
That’s mainly why the CFP Board commissioned the development of Communication Essentials for Financial Planners: Strategies and Techniques in 2017.
The book covers all the aspects of communication that enhance the relationship between an Advisor and a client.
This book has it all, from the interior design of an Advisor’s office to active listening to the questions Advisors ask clients to advise approaches.
Advisors looking to improve their communication skills to better relate to the clients need to read this book.
How I Invest My Money By Josh Brown and Brian Portnoy
Financial Advisors are good at advising people on their finances.
But no one ever gets a sneak peek at an Advisor’s investment strategies.
This book is written by financial experts to anyone, including other Advisors who would care to take some critical pointers on saving, spending, and investing.
The book combines insights from 25 financial professionals: Investment Advisors, Portfolio Managers, and Venture Capitalists.
It’s particularly raw as these professionals share their personal experiences, including family, inspirations, childhood, and struggles.
They take readers on a journey about their perspective of money and managing their finances.
They go further to discuss their relationships with money and their perspective on different investment vehicles.
They share their thoughts on real estate, stocks, bonds, and other investment vehicles to help people reach their financial goals.
The overlying theme is how to incorporate money into daily life and live a happy, fulfilling life.
How I Invest My Money could be precisely what an Advisor needs to make creative financial decisions regarding their finances and clients’.
With its engaging illustrations, it’s one of the best finance books to read.
The Essential Advisors by Bill Crager and Jay Hummel
Just like any other industry, the financial service industry is changing.
With the new trends, clients’ perceptions of financial services are changing.
They are confused on what sets financial service practices apart from the wide range of options, such as Robo advisors.
On the other hand, Advisors are stuck since they can’t tell what clients are looking for.
This book, in a sense, clears the confusion.
Bill Crager and Jay Hummel note that Advisors should adapt their practice to match the ever-evolving changes in the industry.
Instead of perceiving the change negatively, Advisors should position their practice to tap into the new opportunities afforded by change.
The Essential Advisors teaches Advisors how to deliver services that outdo what Robo advisors offer.
It goes further to highlight tips that can set an advisory firm apart, such as delivering hands-on interactions and transparent business practices.
Additionally, 24/07 open communication channels such that clients can reach out any time is part of what makes a business thrive amidst the changes in the industry.
They are of the opinion that Advisors who are adamant about traditional methods will be left behind.
More importantly, this book teaches Advisors how to maximize value by focusing on making the most of the opportunities brought by change.
Further, Advisors must clearly articulate the value they offer clients.
What is it that makes their Advisor firm unique that the client wouldn’t get from anywhere else?
It also urges Advisors to leverage technology to have a competitive advantage in the services they offer.
This behavioral finance book has everything it takes for an Advisor to articulate their value proposition and woo the client over.
Advising the Ultra Wealthy by Gregory Curtis
When it comes to wealth management of ultra-wealthy individuals, Gregory Curtis has a wealth of experience.
He is an expert in this niche and a renowned author of several books.
In this book, Curtis guides advisors with a desire to work with high-net-worth individuals.
The book shares insights on how to market and recruit wealthy clients, building a strong center of influence and demonstrating the firm’s intellectual capital to the clients.
The author also talks about how to work with this clientele.
He further covers areas that Investment Advisors will most likely work on, such as philanthropy, tax issues, and governance when managing ultra-wealthy individuals’ investment portfolios.
Advising the Ultra Wealthy: A Guide for Practitioners is an advisor’s guide to get started as a wealth manager.
It has tried and tested techniques to help an Advisor recruit and work with ultra-high net worth individuals.
Personal Financial Planning for Executives and Entrepreneurs
Several authors have written this book, including Michael J. Nahashon, Jeffrey T. Graig, Stephen R. Stelljes, and Nadine Gordon Lee, among others.
This financial planning book is designed to help Advisors build effective financial plans.
Though complex, the book offers the tools Advisors need to develop a watertight financial plan for a wide range of circumstances.
It also talks about financial planning pillars: risk management, philanthropic planning, investment management, and equity-based compensation, among others.
This book is one of the best books on financial planning.
It’s a must-read for Financial Planners working towards creating targeting financial plans.
It’s That Simple by Lawrence K. Mile
This is yet another top financial advice book with powerful lessons for Advisors.
The author Lawrence Mile asserts that many service professionals have poor business skills.
In this book, he aims to change the narrative.
He advises Financial Planners to treat their practices as a business.
He goes further to outline how to do it.
The book talks about recruitment, building teams, leveraging technology, attracting great clients, and client engagement.
The author believes that these are the pillars to nurturing a business centered on services.
This book is one of the recommended books for startup financial service firms.
The Enduring Advisory Firm by Mark C. Tibergien and Kimberly G. Dellarocca
This is another book that should be on every Advisor’s reading list.
The Enduring Advisory Firm is co-authored by Tibergien, a thought leader in the financial advisory world, and his colleague Dellarocca.
This book is a gem to advisors running a registered investment advisor firm.
The duo gives an in-depth guide on key aspects of the financial advisory industry.
On top of the list are the emerging trends in the industry, especially in this age of social media.
They give an overview of how Advisors can leverage emerging trends for the benefit of their practice.
For instance, Instead of shunning technology, RIA firms can use it to attract millennials.
The book further offers insights on how Advisors can make informed choices when faced with difficult situations.
Not only that, Advisors will benefit from the growth strategies and insights on how to transform an RIA firm into a business enterprise.
This book is precisely what a forward-thinking Advisor needs to attract the right clients and develop streamlined operations.
Advice That Sticks by Moira Somers
This is an indispensable handbook for anyone whose career revolves around offering advice to people.
Somers, a Neuropsychologist and a financial change expert, offers a humorous yet comprehensive guide on the five factors that determine whether a client will follow through with advice or not.
The book is based on her clinical practice experience and research.
The factors that lead to non-adherence are categorized into financial history and circumstances, advisors factors, client character, social and environmental factors, and advice characters.
The author further asserts that Advisor factors can be prevented to increase the rate of client compliance.
In the book, Somers offers guidance to help Advisors give financial advice that their clients will follow.
This book is a must-read for Advisors seeking to raise their advice skills and increase conversion.
The Intelligent Investor by Benjamin Graham
With one million sales worldwide, The Intelligent Advisor is a best seller in value investing.
This book was first published in 1949.
However, it has been updated throughout the years to reflect the changes in the industry.
Despite the updates, Graham’s key points still live on to inspire Investors and Advisors alike.
The book primarily focuses on the value investing strategies people can use to invest in the stock market.
It also talks about how investors can navigate making decisions based on emotions in the financial market.
This is the best financial book of all time.
Apart from the investor to whom it’s targeted, the book makes an excellent read for Financial Advisors.
Best for Mutual Fund Investors by John C. Bogle
John C. Bogle is a legend in the mutual fund world.
He is the founder of Vanguard Group.
This book is a masterpiece, covering all the essentials about mutual funds.
It was first published in 1999.
The book has since been revised to incorporate the emerging trends in the industry.
It talks about the fundamentals of mutual funds, how to build an investment portfolio, and regulatory changes in the industry.
Bogle illustrates in simple terms how applying common sense in investments surpass complex and often costly strategies advocated by wall street.
The mutual fund guru also shares timeless snippets about investments that work in any market.
The Psychology of Money by Morgan Housel
Morgan Housel takes a narration style to expound on the psychology of money.
The author repackages the usual concepts about personal finance to give the reader a clear understanding of their relationship with money.
The themes span investing business decisions, and personal finance.
The author aims to help readers understand their relationship with money and improve their decision-making regarding finances and investment.
Conclusion
The financial service industry is bursting with knowledge.
There is a wide range of books covering various aspects of the financial advice field.
With a comprehensive list of 17 books, we’ve not even scratched the surface of the financial advisor books.
However, we’ve sampled the best books for financial management.
You can find these books easily on Amazon.
For the Advisors that prefer audio, it’s almost impossible to miss a podcast on these books online.
It’s now time to develop a comprehensive reading list and get started.
Happy reading!
