The Top 10 Books Financial Advisors Should Read in 2020

I know many financial advisors who are always on the hunt for a new book to read. When you’re in an industry you’re passionate about, you want to do everything you can to hone your craft and be the best you can be.  

That’s why I’m excited to share with you the top 10 books financial advisors should read in 2020. These are some of my favorite books. Each contains nuggets of wisdom you can use to take your financial planning business to new heights this year. Enjoy!

1. The Sustainable Edge by Ron Carson & Scott Ford

Best for: Advisors looking for work-life balance

The Sustainable Edge: 15 Minutes a Week to a Richer Entrepreneurial Life is one of my personal favorites. It helps advisors focus on their most important work each week, so they can create a life that gives them true fulfillment. The book is divided up into nine chapters—each of which ends with worksheets and templates to help you improve productivity. 

Ron Carson and Scott Ford, the authors, are household names in the financial industry. Ron is the founder and CEO of Carson Wealth, which has $15 billion in assets under advisement. Scott is the CEO of Cornerstone Wealth Management Group and ranks in the top 1% of all LPL financial advisors. 

Ron Carson recently joined me as a guest on my podcast, The Marketing Podcast for Financial Advisors, where we talked about preparing to sell your financial advisory firm. If you’re looking to sell your practice in the near future, this podcast is a must-listen.

2. Getting Things Done by David Allen

Best for: Financial advisors who have too much to do and too little time to do it

It’s nearly impossible to have a clear head when there are a million things on your to-do list and you feel pulled in every direction. Getting Things Done: The Art of Stress-Free Productivity is all about giving you the tips, tools, and tricks you need to be your most productive self. After all, many financial advisors aren’t as successful as they wish because they struggle with time management. This book changes that. 

Getting Things Done is written by David Allen, one of the world’s leading experts on organization and productivity. He’s spent the past 30+ years working as a management consultant and executive coach to large companies such as New York Life, the World Bank, and the U.S. Navy.

3. Radical Relevance by Bill Cates

Best for: Financial advisors who want to sharpen their marketing message and win more clients

Radical Relevance is an amazing new book that helps advisors articulate what they do best and whom they serve. In a digital world where prospects and clients are overloaded with noisy marketing messages, this book helps you pinpoint your value proposition and stand out from the crowd.  

Bill Cates has helped over 20,000 financial advisors get quality clients. He’s a Hall of Fame keynote speaker and one of my industry mentors. 

Wondering how to choose the best niche for your firm? Bill and I have a workshop webinar where we help financial advisors choose a specialty and create a radically relevant marketing message. You can check it out here. 

4. The Million-Dollar Financial Advisor by David J. Mullen, Jr.

Best for: Advisors who want to be top producers in the financial services industry

Ever wonder how the top financial advisors became so successful? The Million-Dollar Financial Advisor interviews 15 mega-successful advisors who generate at least $3 million in business annually. The author, David J. Mullen, Jr., condensed their stories down into 13 step-by-step lessons that teach you how to build a winning practice—whether you’re a new or experienced financial advisor. 

If you’re looking to strengthen existing client relationships, build a strong referral network, and learn how to be successful regardless of market conditions, then this book is for you.

5. The Marketing Guide for Financial Advisors by Claire Akin

Best for: Financial advisors who want to know what it takes to win clients in today’s digital world

I meet with advisors every day who are frustrated by the fact that old marketing techniques don’t work anymore. To make matters worse, many of these advisors have been burned by expensive marketing schemes that don’t produce results. 

In my latest book, The Marketing Guide for Financial Advisors, I demystify marketing for financial advisors and give concrete steps on how to hone your niche, generate leads online, stay engaged with clients, improve your social media presence, and more. I also break down each major digital marketing channel and give tips on how to use each one to grow your AUM.  

6. Storyselling for Financial Advisors by Scott West & Mitch Anthony

Best for: Financial advisors who want to learn how to effectively communicate their message

The financial services industry gets a bad rap for being dull and boring. Storyselling for Financial Advisors teaches you how to connect with your prospects through stories instead of spewing out a long list of facts, statistics, and numbers. 

Financial advisors can leverage the techniques in this book to calm their clients’ fears, eliminate their doubts, and improve their lives. Plus, it features concrete examples of how to alter your message to fit your target audience, so you can effectively communicate with women, the affluent, and those over 50. 

7. Ineffective Habits of Financial Advisors by Steve Moore & Gary Brooks

Best for: Advisors who want to streamline their practices by breaking ineffective habits that are unknowingly holding them back

In the book Ineffective Habits of Financial Advisors, the authors break down seven seemingly harmless habits that prevent financial advisors from building successful, satisfying businesses. Each chapter starts out with one ineffective habit you may possess as a financial advisor. Then it provides step-by-step strategies, templates, and checklists you can use to break that bad habit and replace it with a winning one. 

8. The Art of Selling to the Affluent by Matt Oechsli

Best for: Financial advisors who want to attract and retain wealthy clients

If you’ve ever wanted to crawl into the minds of your affluent clients to figure out what makes them tick, then this book is for you. The author, Matt Oechsli, includes a breadth of statistical data that reveals how affluent people think, feel, and react to challenges they face on a day-to-day basis. The author then uses this data to show you how to tighten up your marketing message so you can attract, service, and retain affluent clients for decades to come. 

9. The Go-Giver by Bob Burg & John David Mann

Best for: Financial advisors who want to harness the power of giving back

Many business owners think that they need to be successful before they can give back. The Go-Giver turns that logic on its head. Instead of giving after you’ve achieved success, this book challenges the idea that being a giving person is what leads to success in the first place.

Unlike other suggestions on my list, this one is a bestselling novel that follows the story of a fictional character named Joe who learns that giving is the secret to living a rich, full, and fulfilling life. If you’re looking to find more meaning in your business or personal life, I highly recommend this book.

10. The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael E. Gerber

Best for: Financial advisors who want to scale their business and increase revenue

Most of the advisors I work with know financial planning through and through, but they haven't built their businesses in a way that is scalable or delivers the same quality of service to each client. The result is that they’re burned-out and unable to grow past a certain revenue. This book explains how to overcome that.

The E-Myth Revisited has sold over 1 million copies since publication and is ranked #3 on Amazon’s Best Seller list for small businesses. 

The Wrap-Up

If you’re looking to hone your skills as a financial planner, RIA, or independent advisor, I hope you read some of these top 10 books for financial advisors. If you do, please let me know what you think. 

Are there any financial advisor books you think should be added to the list? I’m always looking for a new book to read, so drop them in the comments below.