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The real dinosaurs are the seminars that are usually at night with dinner included. It's a sit-down presentation that a financial advisor holds for a group of prospects that he or she wants to get as clients. They are usually geared toward retirement investing. They cost a lot of money to put on, and take months of planning to coordinate, which drains the firm’s resources to get it right so that things run smoothly.Traditional seminars are bound for extinction because on-line technology gives advisors a better option to present to prospects.

With alternative forms of marketing available to advisors, the wise ones will blend the seminar approach with forms of online marketing such as social media, or replace them entirely with digital media.

Say goodbye to the financial advisor seminar

Here’s why seminars are a dying breed: they are purely marketing-focused. Financial advisors are typically salespeople, not investment people, or economists. Most of them outsource the management of accounts to a third party or invest in commingled vehicles such as a mutual fund or ETF, where someone else is making the security-selection decisions. Putting a financial advisor in front of prospects to lecture for a half hour on the subject means that the talk will inevitably become focused on what the advisor wants to sell instead of being purely educational.

The world has caught on to this and no longer wants to play along.