Getting It Right

A Strategic Approach to Ghostwriting

In Financial Services

Natalia Autenrieth

Thought Leadership White Paper 2018

Getting It Right: A Strategic Approach to Ghostwriting in Financial Services

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For financial advisors and planners, staying in

touch with their clients and prospects is a critical

part of business development.

This white paper explores how a content

marketing strategy can support an advisor’s

rainmaking efforts, and how professionals can use

ghostwriting to create compelling content without

taking time away from serving clients. The white

paper presents five common mistakes made by

financial professionals when hiring a ghostwriter,

as well as three best practices for maximizing the

ROI on the relationship.

The Internet has made it possible for perfect cli-

ents to find the right-fit financial professional di-

rectly. Because the financial services industry

ranks highest in website conversions compared

to other industries1, the online ecosystem creates

a valuable opportunity for professionals to con-

nect with qualified prospects and deepen existing

client relationships.

Blogging can be a powerful tool to accomplish

that. Research across over 7,000 business in a

variety of industries shows that companies that

publish new blog content 1-2 times per month

generate over 70% more leads than those that

do not2. It is clear that regular content generation

can be an effective part of an overall marketing

strategy.

As advisors race to capture the full potential of

content marketing, they often run into several

challenges. Bringing in new clients and cementing

existing relationships are integral parts of the job,

but finding relevant topics and time to write on

them can be difficult. Too many financial profes-

sionals make a commitment to blog, then aban-

don their content stream in response to mounting

daily responsibilities and business pressures.

The good news is that ghostwriting can help.

You would be surprised to find out how many

books at a local bookstore (and articles online)

have not been actually written by the person

listed on the cover or the byline. Ghostwriters

work in every imaginable industry, from movies to

financial services. Chances are, at least some of

the content you read regularly has been ghost-

written.

1 Marketing Sherpa Benchmark Report, Website Optimization

2 Hubspot Marketing Benchmarks from 7000+ businesses

Getting It Right: A Strategic Approach to Ghostwriting in Financial Services

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Despite their widespread use, ghostwriting services

are an enigma. Most financial professionals who use

a ghostwriter don’t openly share that fact. They also

don’t talk about best practices of hiring a ghostwrit-

er, getting the most out of the collaboration, and

the red flags that can save you thousands of dollars

and months of lost time. Here is your blueprint for

avoiding common mistakes and getting an excellent

ROI on working with a ghostwriter.

Common mistakes made when

hiring a ghostwriter

Most financial advisors have never hired a ghostwriter.

As a result, the learning curve on the experience can be

steep. Here are five common mistakes professionals

make while selecting and hiring their first ghostwriter.

Not enough technical knowledge Ghostwriters tend to work across multiple industries and

learn new subjects quickly. However, you can save time

and effort if you choose a professional who is familiar

with the technicalities of the financial services industry.

Not having to explain the terminology, the dynamics of

the advisor-client relationship, and the intricacies of

compliance-friendly phrasing means that you can both

focus on creating the perfect content – not building

basic background knowledge.

No proven ability to create engaging

content If you have a difficult time following the content flow of

the samples shared by the prospective ghostwriter, keep

looking. The ability to create engaging content that cap-

tures your attention and pulls you forward, paragraph by

paragraph, is a hallmark of a great ghostwriter - no

matter how technical or complex the subject.

No experience with compliance The challenge at both broker-dealers and RIAs is that

every piece of marketing content must be pre-approved

by the compliance department before it is published.

While broker-dealer compliance is guided by FINRA

Rule 2210 and RIAs are covered by FINRA Rule 206(4)-

1, in practice compliance approval is a delicate dance

that requires knowledge of the boundaries, care with

words, and an understanding of how your compliance

office structures its workflow. An inexperienced writer

can cost you weeks in compliance-related delays.

No repeatable content generation

process “I write when I am inspired” is an attitude that may

work well for some freelancers, but it won’t do in fi-

nancial services. When a busy professional relies on a

ghostwriter for regular content, the creation of that

content cannot be left to chance or inspiration. Ask

your prospective ghostwriter about his or her content

generation process, including the management of the

editorial calendar. Those with a repeatable and disci-

plined approach to writing tend to make better long-

term collaborators and valuable additions to your pro-

fessional team.

No chemistry Even though you will be delegating the research, out-

lining, and content creation to your ghostwriter, you

will still have to interact with him or her regularly. Just

as you would never allow an inexperienced and un-

trained intern to represent your professional brand to

prospective clients, working with a ghostwriter will

take some onboarding effort and an effective feedback

cycle. Choose a ghostwriter that you like and enjoy on

a personal level, as that will make your interactions

smoother and more productive.

Your strategic approach to hiring

the right ghostwriter

Get clear on what matters Every financial advisor will have his or her own person-

al formula for choosing the right ghostwriter. Those

who work in a narrow and deep expertise niche (i.e.

providing financial planning and advice for medical

Getting It Right: A Strategic Approach to Ghostwriting in Financial Services

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professionals, or working to support couples doing

through collaborative divorce) may want a writer with

technical expertise in that niche who can speak effec-

tively to their target market.

No matter the depth of technical expertise of the pro-

spective ghostwriter, don’t settle for lack of engage-

ment. If the article does not capture the reader’s atten-

tion, it won’t be read, shared, saved or remembered

when it matters.

Don’t skip the interview Financial advisors live busy lives, so it is easy to see the

appeal and convenience of clicking a button to hire an

invisible ghostwriter to create your content. No matter

how booked your schedule, don’t skip the interview.

When it comes to determining best fit and assessing pro-

fessionalism, there is no substitute for a direct conversa-

tion.

During the interview, it is important that you get specific

about the working arrangement and your expectations.

An experienced ghostwriter will come prepared with a

list of questions, but here is a checklist of points to help

you assure mutual understanding.

⧉ Your goals

From increasing audience engagement to reaching new pro-

spects, get clear on your content marketing goals.

It is best to begin with concrete measurements of the status

quo, such as the number of unique website visitors per month,

average visit duration, number of email list subscribers, and

number of leads that come in through the website. Get spe-

cific about what you want to achieve with your content strate-

gy so that you can measure your success.

Keep in mind that blogging or book publishing is just one piece

of your overall marketing strategy, so be sure your content is

aligned to support your efforts elsewhere. For example, if

you are planning to host a seminar on Social Security, you

may consider creating a white paper on Social Security strat-

egies that will be emailed to everyone who signs up for the

event. That way, a ghostwritten white paper can serve as a

key component of your post-seminar follow up.

⧉ Your audience

Generally, blogging is most effective for financial profession-

als that serve a specific client niche. By creating content that

is valuable for that group, the financial advisor can become

the go-to resource and a trusted expert, remaining top of

mind for both prospects and clients. Clarity on the audience

will allow your ghostwriter to create well-targeted pieces

that add value.

⧉ Optimal frequency and mix of content

When it comes to frequency and types of content,

financial professional have many options.

• Long-form blog posts (1,000 words or more) have been

shown to generate more viewers and higher engage-

ment levels than shorter content pieces.

• Short-form articles in “listicle” format (i.e. “Top 10”

lists) can be effective in breaking a complex subject and

in engaging the audience on the go that does not have

the time to read the longer pieces.

• White papers (usually 2,000-2,500 words or longer) are

an effective vehicle for educating your audience. White

papers are most impactful when grounded in research,

supported by statistics, and free from overwhelming

sales messaging.

• Ghostwritten books (10,000 words or longer) are larger

projects that can allow an advisor to communicate a

bigger message, showcase his or her expertise, and

create a tangible and lasting business card for use dur-

ing seminars and prospect meetings.

Getting It Right: A Strategic Approach to Ghostwriting in Financial Services

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Professionals are not limited to any one stream of content. For

example, a sequence of two long-form blog posts per month,

supplemented with a shorter-form “listicle” style post, can

create a consistent stream of content that appeals to different

types of readers and is not overwhelming for the advisor to

review and approve. Frequency of publishing, length of arti-

cles, and technical complexity of the content are all variables

that can and should be tweaked to match the needs of your

audience.

⧉ Distribution strategies and post-publication

support

If a tree falls in the forest, and no one is around to hear it,

does it make a sound? The same could well be asked of a

brand-new article posted on a professional’s blog. Many advi-

sors and planners have a certain level of organic following, but

most could expand their reach with a content distribution

strategy. Some ghostwriters offer strategy and post-

publication support in a “wrap” service along with writing, so

be sure to ask about this in the interview.

⧉ Optimal level of input

You may want to brainstorm with the ghostwriter and have a

high level of control over the output. Or perhaps you have less

time to invest in the process and want the ghostwriter to take

the initiative. There is no right or wrong way to approach this,

but professionals who want to maximize their productivity and

the use of the ghostwriter should think about the input level

that will be both comfortable and sustainable.

⧉ Editorial calendar

The editorial calendar allows the ghostwriter to identify sever-

al topics of interest, slot them into specific months or weeks

for delivery, and create a high degree of predictability in your

content stream. Most professionals find that a six month edi-

torial calendar allows for the optimal mix of control and flexi-

bility. It can also be a platform for creating multipart series of

articles that develop complex ideas or tackle larger topics.

⧉ Ghostwriting workflow

For those who have never worked with a professional

ghostwriter, a discussion around the workflow and the de-

liverables can alleviate worries and create clarity on what to

expect. In the beginning, it is best to begin with an article

outline, followed by a first draft, second draft and the final

version of the article. This workflow allows for multiple

rounds of feedback and course-correction to ensure that

you are 100% satisfied with the content that will represent

your brand. After working with a ghostwriter for a few

months, some professionals choose to skip the outline por-

tion of the process, especially if they are confident that the

ghostwriter’s vision of the topic matches their own. Be clear

on the number of revisions included in the price to avoid

any misunderstandings.

⧉ Confidentiality: NDA and a ghostwriting

contract

A typical ghostwriting arrangement means that the financial

advisor or planner who hires the ghostwriters owns the cop-

yright and the final work product. Whether it is a book, a

blog article, a submission to a professional journal, or a

white paper, the ghostwriter’s name does not appear on

the credits. The work is commonly protected by a Non-

Disclosure Agreement (NDA) which prevents the ghostwrit-

er from disclosing that the content wasn’t created by the

attributed author (i.e. hiring professional).

⧉ Your budget

Begin with clarity on what ghostwriting can do for you and

your professional practice. There are many ways to look at

value; here are three examples.

• The simplest way to estimate the value of ghostwriting

is by taking your annual income and dividing it by 2,000

(40 hours a week for 50 weeks a year). If a financial

planner makes $200,000 a year, his or her time at work

is paid for, on average, at $100/hour. A long-form blog

post of average complexity with some research can

Getting It Right: A Strategic Approach to Ghostwriting in Financial Services

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take anywhere between 2 and 6 hours to write. By dele-

gating the writing, the financial planner would be effec-

tively freeing up between $200 and $600 of client-billable

productive time.

• A professional might use his or her billing rate (anywhere

between $150 and $300 or more per hour) as a bench-

mark for what productive client-facing time is worth to

the practice.

• Another way to quantify the value of the ghostwriting

service is by considering how much a new prospective

client is worth to your practice. If consistent blogging,

effective post-seminar follow-up reinforced with a white

paper, or a book can improve your prospect conversion

rate by 10%, what level of financial boost would that offer

to your bottom line?

Budgets are often a sensitive topic, and finding the right bal-

ance between quality and value is a personal choice for every

financial advisor and ghostwriter. As with most professional

services, you get what you pay for, so be wary of ghostwriters

that sell their services at a cutting rate.

Start small Delegating writing means giving up some of the control

over your brand message to another professional. The

idea can be scary, and the best way to be sure that you

are working with a trustworthy ghostwriter is by test-

driving the relationship on a small project. A mini-series

of blog posts, a white paper, or a client case study can

give you good insight into what it will be like to have the

ghostwriter on your team.

If you have any questions or would like to learn more

about how the right ghostwriter can help you reach your

audience, please contact Natalia Autenrieth.

Recommendations to Ensure Best Practices and

ROI on Ghostwriting Services

Avoid these common mistakes

• Not enough technical knowledge

• No proven ability to generate engaging content

• No experience with compliance

• No repeatable content generation process

• No chemistry

Key internal decisions before choosing a ghostwriter

• Goals, clearly defined and measurable

• Overarching marketing strategy

• Optimal publishing frequency and content mix

• Distribution strategies

• Post-publication support and tracking

• Budget and ROI

Insist on quality and confidentiality

• Original content

• NDA and ghostwriting contract

• Technical accuracy and great writing

Getting It Right: A Strategic Approach to Ghostwriting in Financial Services

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What should you expect?

As with any professional relationships, expectations can

set the tone for a successful long-term collaboration –

or pave the way for disappointment. Here is what a fi-

nancial professional should expect while working with a

ghostwriter.

• A brief onboarding period is normal. Professional

ghostwriters are adept at mimicking the advisor’s

tone and style, but the first assignment or two will

typically have the highest volume of edits and revi-

sions. This learning curve can be shortened if you

have a formal writing style guide for your practice.

• Content marketing is a long game. Your phone

might start ringing after the first post goes live, or it

may take six months. It is best to come into the pro-

cess with a long-term goal in mind, view content

generation as one part of your overarching mar-

keting strategy, and not expect immediate results.

• Always insist on original content, technical accuracy,

and great writing.

In the end, ghostwriting should feel liberating. Beyond

the initial onboarding period, your ghostwriter should

be making your life better. You should never feel like

you are forced to “babysit” another professional and

monitor an extra set of deadlines. An excellent ghost-

writer is a natural extension of your professional team

and a powerful secret weapon that can boost your mar-

keting efforts and free up your valuable time. ⧉

Getting It Right: A Strategic Approach to Ghostwriting in Financial Services

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About Natalia Autenrieth

Natalia Autenrieth, CPA is an executive coach at Autenrieth Advantage, a coaching practice that provides financial advisors with strategic advice and practice management consulting services. Natalia writes and ghostwrites extensively on the subjects of financial technology, professional practice management, and financial planning. She can be reached directly at Natalia@AutenriethAdvantage.com.