Top 10 Traits of Advisors


As an information scientist, one of the most depressing aspects of modern social media is the way in which it is reshaping our global society to focus on the what, rather than the why. From the sciences to the humanities to the arts, the underpinning of the scholarly knowledge that advances our collective society is the understanding of why the world is the way it is. Documenting the “what,” the state of the world, is a necessary and important component of that process, but without the synthesis of those observations into the “why” that describes how they came to be and explains their outcome, we can never truly understand our world. This raises the question of how to restore the “why” in a social media world that teaches us that all that matters is the “what.”
The social media revolution has turned everyone with a smartphone into a realtime embedded reporter, live chronicling their own lives and events they experience and commenting on events happening elsewhere across the world. When journalists and tech experts start seeing a strange survey from Facebook pop up in their newsfeed, their first reaction is not to turn to the company to learn more about the feature, to examine it through the lens of proper survey design, to consider the implications of its design in terms of limiting the insights it can provide or to ruminate deeply on what it means for Facebook to be asking such a question and its societal implications. Instead, they all respectively race to be the first to plant their flag in the Twitterverse of having been among the first wave of people to mention it. Speed matters over comprehension.
The realtime conversational nature of Twitter in particular is often touted as offering a global scale collective collaboratory that extends the realtime nature of environments like Slack to the entire planet, allowing adhoc teams to form across geographic, disciplinary and cultural boundaries. The reality couldn’t be further from the truth. Instead of the world’s citizens working together towards a greater good, cataloging all known information about an emerging event and trying to synthesize a basic understanding of its scope, scale and characteristics and bringing in experts from related fields to comment on the potential meaning of each element, the online conversation simply devolves into a bunch of users saying they saw it too and competing for the snarkiest or most meme-worthy response in their never-ending search for viral fame.
Knowing that Facebook is running a new opinion poll might be of interest to media strategists, investment analysts and government regulators, but just knowing there is an opinion poll is of little use without the why, the understanding of what Facebook intends to do with the collected information.
Similarly, in the physical world it can be of great use to first responders to get a realtime alert from a surge of tweets in a particular city block reporting a giant plume of smoke emerging from the roof of a building. The problem is that without knowing the why, it is impossible to know if that “smoke” is simply steam from a vent, humidity from an air conditioning plant, ordinary pressure exhaust from a liquid nitrogen storage system, routine maintenance sandblasting or simply a rooftop party featuring a fog machine. Focusing on the “what” can mean critical resources diverted for a false alarm that makes them unavailable for a real emergency elsewhere in town.
At least one can argue that having increased situational awareness can be of benefit to first responders in alerting them to situations they may wish to examine further. The same can’t be said, however, for the deeper implications of teaching an entire generation of people that relentless focus on speed over comprehension is what affords one success in life.
Perhaps most remarkable is the degree to which academia has embraced social media to discuss issues ranging from developments in their own fields to events and topics completely astray from their own expertise. In contrast to the general public, which might be forgiven for focusing on simplistic reporting of what they see in front of them, the scholarly and scientific worlds emphasize the search for understanding, that the why matters far more than the what.
One might assume therefore that academics would bring that search for understanding with them to the social sphere, lending a critical perspective to raging debates and seeking to explain why it is that everyone else is seeing what they see. Instead, much of the academic discourse on social media is little more esteemed that the rest of the billions of ordinary users they engage with.
Rather than the measured informed discourse and heavily cited and referenced exposition that would be found in an academic journal or the Q&A section of a conference, these same academics that ordinarily pepper their speech with “isms” and speak as though they’ve memorized Roget’s Thesaurus from front to back will suddenly devolve to one-line responses and petty flame wars where the most meme-worthy response wins and adherence to scholarly norms of debate, including sticking to factual statements and citing the source of all claims, goes right out the window.
Putting this all together, social media’s fixation on realtime updates and the unfortunate fact that it is the most entertaining comment rather than the most enlightening that tends to go viral and reward its author with fame in today’s world, means we are teaching an entire generation to focus on information in isolation, rather than spend the time to properly situate it in context. Indeed, this is one of the driving forces behind the ease with which false and misleading information spreads on social platforms. When even the academic world discards millennia of tradition that evolved to maintain the scholarly and scientific world’s focus on the why over the what, we run the risk that social media will ultimately permanently refocus humanity to forget the past, ignore the future and live in a world in which information no longer has any context and where all that matters is what we see before us at this moment, not the understanding of why it is that the world is as we see it. In short, for the thousands of years of human history that we have sought to understand our world, we stand today amongst the unimaginable riches of having all of human knowledge at our fingertips and a quarter of the world’s population just a mouse click away, but rather than harness this brave new world to reimagine how we understand ourselves, we have instead taught an entire generation that speed matters more than explanation, entertainment more than enlightenment. From the Age of Enlightenment to the Age of Entertainment.
Based in Washington, DC, I founded my first internet startup the year after the Mosaic web browser debuted, while still in eighth grade, and have spent the last 20 years…
Kalev Leetaru
In a robo-world advisors must become more than simply social influencers. The seriousness of the undertaking of your calling must be made tangible within your own unique CliqPage.
Now more than ever your ideal audience is in search of a trusted source of wisdom.
This isn’t entertainment and it’s more than just enlightenment… this is about the quality of life, the dreams, the goals, and the aspirations of your ideal audience.
This is a serious business and the context of your meaningful digital engagement must reflect exactly how serious this business is.
The scholarly implications and the meanings in academia referred to in this article will all sort themselves out… my genuine concern is for advisors and their clients… my concern is for you… it is entirely up to you to create the meaningful context that will guide both you and your clients through the digital noise that grows exponentially in today’s robo-world.
You must be able to walk the talk.
You must promise your behavior.
Your clients must promise their behavior to establish a trusted collaborative relationship.
You must frame the relationship with your rules.
Your filters must be designed by you topically to lead to the value you can control the most.
Discover your why and make your what relevant.
They know they can’t be everything for everyone.
They use the word “no” as a strategy.
They are known for the quality of their questions.
They are never complacent.
Their reputation precedes them… digitally.
They have a defined process for their businesses.
They have work / life balance.
They are active philanthropists.
They work only with ideal clients.
They control exactly how their value is perceived.
They realize… their unique value is precisely what makes them relevant.
What is your unique, authentic, relevant value?
1 Content leads to your unique value.
2 Questions lead to your value to filter.
3 Conversations are competent and add to your confidence.
Topics are derived from your purpose, principles, values, beliefs, opinions, experiences, expertise, promised behavior, behavior you expect from clients, your philosophy, and your processes…
Those disciplines of your alpha must be defined (by you) before you can create categories for content topics for engagement and questions that lead to your value.
The medium is the message. Your digital experience must flow seamlessly with your daily behavior if you want to survive in a robo world.
This is how to do exactly that… quickly.
If you are thinking about outsourcing your content to a third party, think differently.
You don’t need leads for a sales funnel.
You need to filter in prospects and keep clients with personalized topics.
Cookie cutter content will get you washed away.
Your value must become tangible for clients and prospects to see and hear.
Nobody wants to be placed in your sales funnel. Transparency lets prospective clients know exactly what you are up to.
Own the words. Design your topics. Get and keep ideal clients. In perpetuity.
Most advisors have never been afforded the opportunity to discover and define their authentic relevant value… they were hired to sell products. To remain relevant and become irreplaceable advisors are going to have to think differently about their job description. You are going to have to think differently about sales… you are going to have to think differently about service… you are going to have to think differently about your unique value.
The conversations of most advisors, up until recently, have been centered around either products or the trustworthiness of their firm. But now, the greatest opportunity in the history of financial services awaits you…
By owning your value you are creating opportunities to have conversations that matter 24/7
In order to engage in conversations that matter you must have a formalized process in place in which the client experience is never left to question. Your business must become designed to exude your value and leverage all of your resources to consistently improve your client experience while simultaneously engaging in (and improving) the conversations that matter. Essentially, the client experience and the conversations that matter dovetail to enhance the overall development of your business. Owning your Advisor Alpha creates this opportunity.
Once you define your value… you own your Advisor Alpha
Owning your Advisor Alpha and making it tangible nullifies the element of desperation inherent in a business where you can’t exude your value.
Lacking the courage of your conviction to have conversations of your value is the number one killer of all advisor client relationships… If you can’t put into words why your clients should be paying you, you will neglect them… and neglecting your clients is still the reigning champ of client defection.
They need to feel it… and you need to know how it makes them feel… Tangible Alpha.
If you don’t own the words that define your value you will be destined to attempt to become a version of “all things to all people.” This version of you fails eventually… and this version of you fails more rapidly in a robo-world.
You must first own your value before you can engage in conversations that matter.
Owning the words that define your value enable you to create a business in which your conversations fuel the client experience and the client experience fuels the conversations that matter. Owning your Advisor Alpha and making it tangible will drive the success of your business in the future… by design.
How can you escape the trap of client defection due to advisor neglect? How can you empower all trusted partners to have conversations with the courage of their conviction? How will you remain relevant and become irreplaceable?