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Sending clients a regular email with a link to an article or video from a credible source has a consistently positive impact. Not only does this keep you top-of-mind, but it reminds clients of the ongoing reading and research you’re doing on their behalf. But it works only if you use a source that enhances your credibility.
What makes sources credible
Over the years, I’ve talked to investors about the information sources that inspire confidence – and some clear patterns emerge:
Business and financial sources score higher than broader based news organizations (with one striking exception – see below).
Brand name recognition matters.
We live in a star-driven society. Brand recognition is just as important for information sources as for sports stars and entertainers.
The YouTube world has arrived.
An increasing number of investors prefer to get their content on video rather than by reading an article – and video packs an emotional punch that paper can’t match. (To see this, read an article about Warren Buffett and then watch him interviewed on Bloomberg or by Charlie Rose. You’ll be amazed by the difference in impact.)
Internal publications are at the bottom of the credibility ladder.
Clients look to advisors for information that is relevant, timely … and objective.
Fairly or not, investors put more credence in information that comes from a third-party source than something produced by an advisor’s firm.
The information source hierarchy
Given these patterns, information sources fall into a clear hierarchy:
Tier One:
The Wall Street Journal: Even clients who have never read the WSJ know the name; it evokes objectivity. The Journal is behind a pay-wall for much of its content. If you want to read it for your own information rather than to send clients articles, you can find special subscription offers to the online WSJ for $150 a year.
Financial Times and The Economist : While they don’t have the name brand recognition of the Wall Street Journal, they convey a high level of sophistication and credibility among more worldly investors. The Financial Times has a pay-wall for many of its articles, similar to the Wall Street Journal.
