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Advisors can create content that resonates with their existing and prospective clients by incorporating a mix of educational materials, market insights, client testimonials, and personal anecdotes.dem10/iStockPhoto / Getty Images

This is Globe Advisor’s weekly newsletter for professional financial advisors, published every Friday. If someone has forwarded this newsletter to you via e-mail, or you’re reading this on the web, you can register for Globe Advisor, then sign up for this newsletter and others on our newsletter sign-up page. For more from Globe Advisor, visit our homepage.

These days, video marketing is a strategic necessity for advisors. Financial topics, often complex and intricate, can be challenging for the average person to grasp. Videos provide an avenue to break down these topics into understandable, visually appealing formats. This approach doesn’t just make information more accessible, it also adds a human element for advisors, enhancing their relatability.

Advisors can also establish a more authentic connection with their audience and build trust and credibility. Videos showcase their expertise, share their values, and even provide glimpses into their personal lives, creating a bond with existing and prospective clients. They have an opportunity to display their personality and expertise, fostering a strong personal brand.

Videos are more likely to be shared and have a broader reach, allowing advisors to cast a wider net for prospecting initiatives. They also encourage longer interaction, leading to better opportunities for connection and conversion.

The key to successful video marketing is aligning with the target clients’ interests and needs. Advisors can create content that resonates by incorporating a mix of educational materials, market insights, client testimonials, and personal anecdotes.

However, it’s important to maintain a balance between the frequency of content and its quality. Consistent updates are important for audience engagement and building a strong online presence but they shouldn’t compromise the quality of production, which can influence audience perception and engagement greatly.

Finally, video analytics are crucial in refining marketing strategies. By understanding viewer behaviours and preferences, advisors can tailor their content to better meet audience needs. This might include adjustments in video topics, duration or style, ensuring that the content remains pertinent and engaging.

Emily Reed is co-founder and chief executive officer at HeyAdvisor in Toronto.

Must-reads from Globe Advisor this week

Why this $4.5-billion money manager is adding Meta Platforms and trimming Apple

Money manager Daneshvar Rohinton is managing each of his portfolios a bit differently, depending on economic conditions in various parts of the world. “We’re seeing a soft landing in the U.S. and a more muted economic picture in other parts of the world such as China and Europe,” says Mr. Rohinton, vice-president and portfolio manager at iA Global Asset Management Inc. in Toronto. “There’s more risk of an economic downturn in Canada due to higher interest rates. Our economy is more interest rate-sensitive because of our higher debt, which is trickling through the economy differently,” adds Mr. Rohinton, who manages $4.5-billion in assets across four funds, including IA Clarington Canadian Dividend Fund and IA Clarington Global Dividend Fund. Brenda Bouw asks what he’s been buying and selling.

These Canadians wish they had taken their CPP benefits earlier. Here’s why

Canadians are often encouraged to delay taking their Canada Pension Plan (CPP) benefits for a few years to receive a higher payout. However, many don’t for reasons ranging from lower life expectancy to needing the money to pay the bills. In some cases, people take the pension money and invest it. Some even wish they had started receiving their CPP benefits sooner, given growing market returns over the years and the various tax-saving strategies available through programs such as the registered retirement savings plan (RRSP) and the tax-free savings account (TFSA). Brenda Bouw spoke with four Canadians who wish they had started taking their CPP payments sooner.

Your CPP questions answered: If you’re receiving survivor benefits, is there a good time to take your own CPP?

Globe Advisor invited readers to ask questions about their CPP benefits that we can pose to experts to answer. This week, we asked Kevin Burkett, tax partner at Burkett & Co. Chartered Professional Accountants in Victoria, to answer three questions from readers about survivor benefits: “What’s the difference between a death benefit and a survivor benefit?” “If you are receiving survivor benefits, is there a good time to take your own CPP?” and “What is the CPP maximum combined survivor and retirement pension if the survivor starts collecting at 70?” Read more here.

Also see:

Why this former communications professional retired at 55 – and her advice on the transition

Top RRSP investment picks from three veteran advisors

Why patience and diversification remain proven RRSP principles for the long term

The debt spiral: How much is too much and where to turn when in too deep

What you and your clients need to know

Millennials outnumber baby boomers for first time, Statscan says

Statistics Canada says there are now more millennials than baby boomers in the country, ending the 65-year reign of the post-Second World War generation as the largest cohort in the population. The federal agency noted the change in its newly released population estimate for July 1, 2023, broken down by age and gender. The baby boomer generation became the largest in Canada in 1958 – seven years before the last baby boomer was even born. They accounted for 40 per cent of the population from the mid-1960s to the early 1970s. Many countries are grappling with the reality of an aging population as baby boomers retire. These changing demographics are expected to affect health care needs and governments’ tax bases. Read more here.

The CRA’s fight with Toronto Maple Leafs’ John Tavares reflects a bigger tax problem

Toronto Maple Leafs hockey star John Tavares has been in the news lately, but not for his play. He is in a fight with the Canada Revenue Agency over how much tax he ought to have paid in 2018 on his $20-million signing bonus with the Leafs. Mr. Tavares’s case underscores a wider problem: For a long time, domestic NHL teams have been at a disadvantage to their U.S.-based counterparts, who have been able to better attract players because they’re in lower-tax jurisdictions. And this is a disadvantage that all industries face. It is a disadvantage that follows directly from Canada’s current income tax system and one of several disastrous hidden consequences that all Canadians need to wake up to. Rob Kreklewetz has more.

The annual summer childcare struggle: Working parents spend thousands for day and overnight camps

For working parents with school-aged kids, February brings an additional annual pain: booking and paying for summer camps. From September to June, childcare is easier to arrange; between school and after-school programs, parents can usually work it out. Come July, though, there are about nine weeks of school vacation and parents look to summer day and overnight camps to keep their kids occupied and cared for. The quick math shows that a full summer of day camp – around nine weeks at $400 – adds up to about $3,600 per child. Extended care, busing and lunch are extra. And if your child spends two weeks at overnight camp, you’ll need to budget for more. Anita Bruinsma has more.

Why the shift in focus on risk tolerance is so important for investors

To their credit, regulators have begun to be somewhat more open-minded about how to think about risk. When an investor opens an account with a financial advisor, they’re required to complete a document called a new client application form. The form generally assesses the suitability of investments based on how much an investor is willing to allocate to cash, bonds and stocks. That all changed at the beginning of 2023 when new regulations known as the client-focused reforms were enacted, giving primacy to risk tolerance and risk capacity. Risk tolerance is the psychological willingness to take on risk, whereas risk capacity is the financial ability to endure losses. John DeGoey explains.

– Globe Advisor Staff

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