Welcome to the most informative guide on the best financial planner books on the internet.
After reading this article, you will not only know how to give the best financial advice to your clients but will be able to apply these books to your personal finance life too.
Specifically, this article covers:
Top Books For Financial Planners – Intro
As a financial planner who wants to grow and become one of the best in the industry, you can’t escape reading.
Reading is one way to update your knowledge, remain conscious of current financial trends, and develop better and more practical financial planning strategies.
Here is the list of the best books, along with details of their key takeaways for all finance professionals, including financial planners, financial advisors, or financial analysts.
You can find all these books on Amazon.
1. Best for Inspiration: “Start With Why” by Simon Sinek
This is one of the most inspirational business books.
It details how most business owners focus too much on what they do and how they do them.
They completely ignore why they do the things they do, so they also fail to share why they make certain decisions with their clients.
This is true, especially in a business that involves close mingling with clients, such as financial planning.
This book will awaken you to the fact that people will not buy what you do but will subscribe to why you do it.
They want to understand you to trust you to deliver what is best for them.
Sinek uses Apple as the epitome of a business that effectively used the “why” to communicate to its customers, which is why the company has attracted more customers who understand their why and are passionate followers.
Reading this book opened my eyes to a world of inspiring stories that spurred me to think about my “why,” my career or business’s purpose, and my reason for existing in the industry as a financial professional.
Reading this book changed my mindset, and I’m convinced it will change yours too, and you will become better as a financial planner.
If you have a financial advisor firm, all the more reason to read this book.
2. Best for Client Engagement: “Unmarketing” by Scott Stratten
One of the most exciting reads for financial planners is this book.
The book emphasizes that marketing isn’t all about marketing as commonly thought.
It is all about establishing a connection with an audience and engaging people.
The book made me understand the importance of creating that connection by substituting marketing for engaging with customers.
Scott Stratten highlights essential approaches that have worked with his business.
One striking thing is that Stratten’s customer engagement approach focuses on social media.
Thus, most of the ideas discussed in the book are compelling for those with social media presence and looking to grow through such platforms.
If you have a financial advisory firm and want to grow it through client engagement, reading this book would greatly help.
However, suppose you are a financial advisor with no social media presence or are not active in such platforms, you might find the concepts a little alien.
3. Best for Diverse Markets: “Gen-Savvy Financial Advisor” by Cam Marston
The author is a renowned speaker and researcher focusing on generational trends centering on financial services.
Therefore, he is well-placed and hasn’t disappointed in his book as he highlights his research on the three popular generations: the Baby boomers, Generation X, and Generation Y.
He discusses his research based purely on the financial advisory firms’ context.
Marston applies these concepts, unlike most books discussing the stark differences between these generations.
For example, in the book, he explains how Baby Boomers love to hear your story, how you began and will look upon you favorably if you are a trustworthy, tried, and well-established business or brand.
He further explains how generation Xs have little patience with background stories and prefer the straight-to-the-point approach.
At the same time, the millennials love groups and prefer instant communication and the latest technology.
The book is quite an eye-opener if you are a firm targeting clientele different from your traditional demographic of current clients.
It offers you great insights as a financial advisor on how to better communicate and connect with markets in generations that are different from your own.
4. Best for Decision-making: “Decisive” by The Heath Brothers
This book explores how brains make decisions and how mistakes come about.
It also explores how to fix the mistakes we make.
This book can be classified as a behavioral finance book, but it can still rank as a practical book.
It is far from the standard theory and research books about humans making mistakes.
Instead, it is an efficient and relevant book, especially regarding making and carrying out investment decisions.
It helps you as the financial planner understand how valuable you are to the client and the incredible power you wield to make the best financial decisions every day for your client.
This book is worth it whether you want to make better decisions regarding your clients’ wealth management.
5. Best for Problem-solving: “The Signal and The Noise” by Nate Silver
This book focuses on how statistics have been helpful in various aspects of life such as weather, sports, natural occurrences, and even the financial markets.
The book explains how statistical analysis can help you separate useful signals from any underlying noise.
You will gain an essential perspective on making the best financial decisions while applying statistics to real problems, including financial ones.
It is a fascinating and thought-provoking read that will make you a better financial advisor or planner.
You will always look at problems from different angles and seek the best solutions from applying statistical analysis, and you don’t have to be a statistical analyst to do this.
Nate Silver has explained well how to go about it.
By the time you are done reading, you will feel and act like an expert.
6. Best for Wealth Creation: “Keynes’s Way to Wealth” by John C. Bogle
This book offers an exciting view of the investment experiences of John Maynard Keynes, a renowned economist.
Keynes, the wealthy economist, died a rich man with a net worth of $22 million thanks to his investment decisions and success.
The book highlights his journey, which has challenges.
We see his attempts to get rich thwarted by circumstances such as the Great Depression.
Through every one of the challenges, Keynes rises and adapts his investment approaches to new circumstances.
He eventually focused his investment approach on long-term and deep-value stock picking, which paid off more than his previous investments.
Even more fascinating is how Keynes’s investment philosophy evolved with the circumstances.
Every financial planner will find this book simply unputdownable and quite fascinating.
7. Best for Economics: “Capital in The Twenty-First Century” by Thomas Piketty
This is a trendy book in economic circles currently.
It is authored by French economist Thomas Piketty who dives deep into the history of income inequality.
The author unsettlingly concludes that income inequality is something inevitable in any capitalist economy with zero government intervention to stop it.
You will realize the negative aspects of income inequality and the ever-rising income inequality gap when reading this book.
Piketty clearly outlines how income inequality was a significant problem in the 19th century and how the two world wars and the Great Depression bridged the gap.
However, in the 21st century, income inequality is rearing its ugly head again.
Piketty points out some quite exciting solutions to these problems, which will leave you deep in thought.
It is a great book to read as a financial planner if you want to be up-to-date on the latest thoughts regarding income inequality and some great solutions.
8. Best for Entrepreneurship: “E-Myth Revisited” by Michael E. Gerber
This is a revised edition of the published E-Myth, initially in 1986.
However, it is one of the most popular books, especially among business owners, and is highly recommended for financial planners building or starting their businesses.
In this book, Gerber points out how most small businesses are started not by entrepreneurs but by technicians who love doing the business and decide to create a business involving what they love doing.
He further says that most such businesses fail because the technicians have the skills of doing the business but lack the essential skills to build the business.
Gerber has exciting illustrations in the book that will leave you thinking deeply about what you are doing wrong in your financial planning business.
The book offers great ideas and concepts on how technicians can overcome challenges and change their mindsets to grow their businesses to their full potential.
This is a highly recommended book to build your advisory practice.
Some great pointers in there will steer you in the right direction.
9. Best for Successions: “Succession Planning” by David Grau
This book was authored by David Grau, the founder of FP Transitions, a reputable organization that has facilitated 5000+ valuations of advisory firms and more than 1200 transactions.
Grau’s perspective, wisdom, and experience on the best ways to execute a succession plan highlight an advisory firm’s best succession planning strategies.
I found this book quite insightful regarding succession practices in a firm.
It delves into everything and highlights details such as the best timing for a formal succession, structuring, financial transition, and restructuring critical aspects of a firm to make it more transitional.
The best thing is that it doesn’t just focus on advisory firm owners.
Still, it also offers excellent insights to junior advisors who want to start their firms or would love to be part of the succession planning discussions with senior seniors.
10. Best for Financial Advising: “The Million-Dollar Financial Advisor” by David J. Mullen Jr,
This is another must-read book for all financial advisors.
It is a book that offers a more personal approach to the financial advising industry.
It is a book filled with important lessons for financial professionals compiled from interviews conducted with 15 top financial advisors.
These lessons focus on the vital tenets of the financial industry, like creating, building, and strengthening client relationships.
Mullen is a 30-year financial veteran in his own right and is a former MD at Merrill Lynch, a reputable business organization.
Besides, what better way to achieve this than to read insights from a true veteran.
Reading this bestseller will open your mind to vital aspects of the financial industry that you should know.
11. Best for Debt Management: “The Financial Peace Planner” by Dave Ramsey
This book by Dave Ramsey is worth reading.
It is simply a guide for anyone who wants to restore their financial health.
The author openly explains the practical ways people can come out of a severe debt situation in this book.
He explains this by highlighting his own experience in the matter.
The author shares his journey with the readers on how he was bankrupt but managed to restore his financial life.
As a financial planner, you will meet clients deep in debt who want to come out, and the insights from this book will equip you with the knowledge on how to get rid of the problem for good.
It is an excellent book if you want to add value to your clients and help them get out of debts but also helps them avoid getting into debts they cannot manage.
12. Best for Financial Markets: “Private Wealth Management” by G. Victor Hallman & Jerry S. Rosenbloom
This book is a current edition by these authors, and it offers insights on how to thrive in today’s financial markets.
You will learn how to set financial objectives, execute the planning process, invest in equities fixed-income securities, make great retirement income plans, insurance planning, real estate, and more wealth investments.
This is a must-read for any financial planner who wants to apply current trends to current financial markets and succeed in their career.
With such detailed knowledge, your clients will always be grateful to have you advising them.
13. Best for Money Management: “I Am Net Worthy” by Chris Smith
This book is referred to as the Financial Master plan for all Millenials.
The author gives a straightforward approach for young adults regarding money management.
It offers excellent ideas on managing student loans, savings accounts, credit scores, and so on.
The author collaborated with nine other authors to write this book and therefore has highlighted various viewpoints of people whose sole purpose is achieving financial independence.
The book offers excellent ideas on long-term investing, monthly budget, personal finance, and generally the basics of saving.
It is a book that will help financial planners offer the best advice to millennials who are just starting life and would love to make sound financial decisions as beginners in the financial world.
14. Best for Financial Mistakes: “The Dumb Things Smart People Do With Their Money” by Jill Schlesinger
This book is an excellent eye-opener for everyone.
The author highlights thirteen errors that you are probably making with your money.
You are most likely unaware that you are making these mistakes, and the author points them out while showing you ways to avoid them and the blind spots to look out for.
The author touches on debt repayment, retirement contributions, emergency fund boosting, education financing, insurance, and real estate.
The author also talks of bad financial advice and how to recognize it.
As a financial planner, this can be quite helpful when dealing with various clients.
15. Best for Future Financial Planning: “Peace of Mind Planner” by Kathryn Bartlett
This is an unusual and quite helpful book.
It is a book that helps people plan their financial matters and leave their loved ones in a better financial place after they are gone.
After reading this book, you will be well-equipped to plan for the properties, insurance, medical, and financial aspects of your life long after you are gone.
Financial planning after death has been well-discussed here.
This is helpful for the financial advisor with clients who would love to make such arrangements after their death.
16. Best for Financial Bliss: “Beyond Blessed” by Robert Morris & Dave Ramsey
If you love a biblical viewpoint with biblical principles when it comes to financial decision-making and financial goals, then you will love this book.
The authors have explained how to overcome financial problems and achieve your financial dreams.
The book highlights biblical principles, inspiring personal stories, and very practical insights to help you overcome all forms of financial stress.
With the insights in the book, you can live in financial bliss as God intended for you and become a blessing to others in your life.
So if you love this kind of viewpoint, you will find this book quite an interesting read.
17. Best for Affluence: “The Art of Selling to The Affluent” by Matt Oechsli
If you are one of those financial planners targeting affluent investors, this book shouldn’t miss your reading list.
The author gives you a glimpse into the world of these affluent investors.
You will understand how they feel, their thoughts, daily experiences, and how they view the world.
This book will help you up to your game, attract only affluent long-term clients, and get similar referrals.
As a financial planner, you will best put those skills to work and help your client make even more money and achieve further financial stability.
This also means a significant career boost for you.
A great book by an author who understands can do that for you.
Benefits of Reading Financial Planner books
Now that you have seen the best books you should read, whether a CFP or any other financial professional, it is also essential to know why reading them is beneficial.
So here are the benefits of reading financial advisor books.
Become a knowledgeable Professional
Reading these books is a great way to update your knowledge base.
No financial subject will be new to you.
You will know everything about financial decisions, the markets, the people, and nothing will catch you by surprise.
Your clients will find you resourceful because of your knowledge about everything financial under the sun.
This will elicit trust from your clients, and they will even refer you to other clients as trustworthy and knowledgeable financial planners.
Remain up-to-date in financial trends
When new trends and financial options come up, you will not be in the dark.
These authors have extensively studied the markets and have a wealth of information that you will find helpful.
You will be well-versed in dealing with all manner of clients from individuals to corporates, millennials to baby boomers, and so on.
An updated financial planner is a vital asset to the advisory firm they work for, the clients they serve, and the financial industry.
Get inspired to write your insights
Imagine a financial planner who writes and is an inspiration to others in the financial industry?
That could be you.
You will learn so much, and with your own experiences in the financial industry, it will inspire you to share your thoughts on essential issues in the financial advisory industry or any other finance-related topics.
This could be an excellent opportunity for you to impact the world positively through something you are passionate about.
We have looked at the best-selling financial planner books you should read and how these books will benefit you.
The truth is, even when you acquire all the books on the above list, they will not change your life if they are sitting on your bookshelf.
The value of a great book will only come when you read it and carefully think about the ideas within, then put the relevant ones into action in your life.
That is the only time when a great book changes a person’s life.
There is no doubt that good books enrich the mind and affect how you do things.
If you become a better financial planner because of a good book, it has served its purpose well.