Help employees write financial content for publication

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Publishing investment and financial content isn’t just for the big names any more. In the old days, only chief investment officers and senior executives put their names on articles published by investment, wealth management, and financial planning firms. This was true even when junior employees, marketing communications staff, or freelancers did the writing. Today, the needs of search engine optimization, social media and blogging, plus the demand for more personal, less bland content are changing the rules. Firms are asking more employees to write for their blogs, newsletters, and other publications.

This creates challenges, as well as opportunities, for financial firms. How can they engage more employees in writing for publication? How can they ensure that the content is good enough?

Most financial services employees aren’t hired for their writing skills. Some are gifted idea generators and wordsmiths. Others don’t enjoy writing and haven’t been trained to write well.

I have suggestions on how to inspire your employees to write more and better. If you need practical help right away, send your employees to my webinar on “How to Write Investment Commentary People Will Read,” scheduled for June 22, 2015 (Early Bird rate ends June 3).

1. Set a good example at the top

Employees notice senior executives’ actions. When your executives publish regularly, they set a good example for the rest of the firm.employee social media sharing stats byNeal Schaffer

Senior management can also help by recognizing the contributions of their juniors. Recognition can take many forms:

  • Sharing content on social media—by the way, don’t underestimate the value of you and your employees sharing on social media, as my photo from social media expert Neal Schaffer’s May 7, 2015 presentation shows.
  • Praising individuals for their contributions
  • Featuring contributions by junior employees, as well as senior management, in a newsletter or blog
  • Including writing as part of job descriptions and performance reviews

2. Offer ideas to jumpstart employee writing

Some people, even veteran writers, get stuck at the stage of generating ideas or starting to put words on the page. You can help them by suggesting topics or providing models for their pieces.

A. Suggest specific topics

When you suggest topics, try to be as specific as possible, especially if you’re helping a new writer. Instead of suggesting the broad topic of “market timing,” you might suggest

  • Why market timing isn’t right for retirees
  • Market timing or buy-and-hold—which is best?
  • Three reasons why market timing doesn’t work
  • Research shows benefits of market timing

A narrower suggestion gives your direction to your newbie writers. Of course, it requires you to have some knowledge of the topic so you don’t steer them wrong.

B. Provide models

Facing a blank page can intimidate writers at all levels of experience. To relieve their stress, provide your writers with models to follow. Give them examples of articles that you like. The examples can be from your firm or elsewhere. I provide one fill-in-the-blanks model on my blog.

3. Train your employees to write

Investment commentary webinar June 22, 2015

Click on image to register

Training can help your employees to overcome their fear of writing and to write better and faster. I train corporate clients and members of professional societies to write better. However, any kind of writing class, even at a local education program can help. I got much of my early training in programs offered by the Boston, Cambridge, and Newton adult ed programs.

If you’d like online training, check out my webinar on “How to Write Investment Commentary People Will Read.”

It’s also good to provide training about compliance rules. For example, writers can’t guarantee returns or promise that certain things will happen. Also, some topics, especially discussion of specific products, may demand disclosures. Consider providing your employees with compliance checklists so they avoid violating compliance rules.

4. Provide editing and proofreading

Typos and other mistakes undercut the credibility of your content. It’s hard for most writers to proofread themselves. This is why I suggest you use a proofreader-copy editor.

If your budget permits, hire a professional proofreader-copy editor. This could be someone in your marketing department or a freelancer. If it’s a freelancer, think about whether you want someone with financial expertise who can catch content problems. If your budget is tight, go for someone who only knows grammar and usage.

5. Reward participation

Employees like to do things that are rewarded and praised. When you recognize the contributions of your employee-writers, you’ll encourage more participation.

YOUR thoughts

How do you encourage your investment or wealth management professionals to write? Please tell me.

 

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Write your lousy first draft!

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I’m a big believer in organizing your thoughts before you start writing. However, please don’t wait until your thoughts are perfectly organized to start your first draft. Waiting for perfection means you may never write anything. On the other hand, a lousy first draft can be a great starting point.

A Margaret Atwood quote recently reminded me of the importance of starting to write.

If I waited for perfection, I would never write a word.

Do what you can to organize your thoughts first. You may write an outline, mull over ideas in your head, or draw a mind map, a technique that I explain in Financial Blogging: How To Write Powerful Posts That Attract Clients. Do what you can, but then move on.

The great thing about a draft—even a lousy first draft—is that it gives you material that you can fix. Also, the act of writing helps you to process your information. It’ll give you a better idea of what you’re trying to say.

Once you’ve drafted your piece—whether it’s as short as a tweet or as long as a white paper—you can analyze it. Look first at the big picture, as I describe in ”5 steps for rewriting your investment commentary.” Once you’ve fixed those issues, you can dig into the details.

If editing isn’t your strength, consider hiring an editor, like Sheri Fitts of ShoeFitts Marketing. When Sheri and I spoke on her “Women Rocking Wall Street” podcast, she told me that she sends her drafts to an editor. That’s a great use of outsourcing.

If you can’t afford an editor, ask a colleague, family member, or friend for feedback. Don’t let your desire for perfection stop you from writing. Start your draft today!

 

Image courtesy of photostock at FreeDigitalPhotos.net

Plurals: your best friend for gender-neutral financial writing

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Do you routinely refer to members of your target audience as “he” when you write? If so, you’re probably offending some of your readers. Your use of plural nouns can help you broaden your appeal.

Singular nouns are tough

Let’s assume you’re writing a white paper about teachers who are planning for retirement. You open your draft with “A teacher faces three main challenges in preparing for retirement.” However, eventually you’ll need to substitute a pronoun for “teacher” or your readers will suffer from “teacher” overload.

To write in a gender-neutral way using traditional singular pronouns, you must write “she or he” or “he and she.” When this substitution occurs frequently, it can feel clunky and disrupt the flow of your text.

Some authors address this by alternating their use of “he” and “she.” However, this can confuse readers, making them think you’re discussing different people when you shift from pronoun to the other.

Another option is to use “they” as a gender-neutral singular pronoun. I’ve done this sometimes. I’m not alone in this. Here’s what Ammon Shea says in Bad English: A History of Linguistic Aggravation.

The third-person neuter single (They or their when used to refer to a single person of either sex) was in common and accepted use until the beginning of the nineteenth century, and is showing signs of making a resurgence. It is, in my view, a fine option for those who do not wish to always refer to unnamed people as he. I have opted to use the gender-neutral they in the singular, except where to do so would provide a lack of clarity or euphony.

The problem with using “they” this way is that it offends the purists. As a result, it may distract some readers from your message. Distraction is bad, no matter what the cause. I sometimes rewrite sentences that are 100% correct because they may seem incorrect to readers who don’t know all the rules. Still, according to “Can We Take ‘They’ as a Singular Pronoun?” more copyeditors are accepting “they” as singular.

Write about multiple people

You can get around the awkwardness of calling everyone “he” or using a singular “they.” Instead, write about multiple people.

This means you’ll write “Teachers face three main challenges in preparing for retirement” instead of “A teacher faces three main challenges in preparing for retirement.”

How do you write in a gender-neutral manner?

Do you think it’s important to write without favoring one gender over another? If you have tips on this topic, please share.

 

Disclosure: If you click on the Amazon link in this post and then buy something, I will receive a small commission. I only link to books in which I find some value for my blog’s readers.

Is plain English for financial dummies?

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“We don’t want our clients to think we’re dummies.” When I encourage my clients to use plain English, they sometimes push back. They’re afraid they’ll seem stupid.

I disagree. I think plain, clear writing shows respect for your client’s time. I’m not alone in my belief. Folks like investor Warren Buffett of Berkshire Hathaway and former SEC chair Arthur Levitt agree with me. So does The Wall Street Journal.

Warren Buffett on plain English

Here’s what Warren Buffett says:

When writing Berkshire Hathaway’s annual report, I pretend that I’m talking to my sisters…. They will understand plain English, but jargon may puzzle them.

Despite Buffett’s easy-to-understand style, plenty of financial sophisticates read his firm’s annual report.

By the way, Buffett’s quote comes from the SEC’s A Plain English Handbook, a great free resource.

Arthur Levitt on financial disclosures and language

Here’s former SEC chairman Arthur Levitt’s take on plain English:

For the language of financial disclosure, we need to raise the standard from “potentially understandable” to “impossible to be misunderstood.”

Take a few minutes to see if your writing passes “The Levitt test for financial risk disclosures.”

The Wall Street Journal

Almost every financial sophisticate in the U.S. reads The Wall Street Journal. The newspaper does a good job of making their content accessible to the less sophisticated. For some examples, see “Let’s get parenthetical.”

What about YOU?

What do YOU think about using plain English in your financial communications? What is one step you recommend to others who’d like to use plain English?

For more on plain English, see “Plain English and good writing.”

 

Image courtesy of ImageryMajestic / FreeDigitalPhotos.net

Should you correct other people’s writing mistakes?

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The quality of your writing affects what other people think of you. That’s a good reason to polish your writing. But what if you see errors in other people’s writing? Should you tell them if you’re not working as an editor? It depends. I pose four questions that can help you decide whether to act.

Ask these questions before you correct someone's writing infographic

1. How serious is the error?

Some errors are more important than others. If a writer repeatedly refers to “portfolio mangers” instead of “portfolio managers,” that’s embarrassing. It also suggests a sloppiness that reflects poorly on the individual and whatever organization is publishing the piece in which the error appears.

2. Does the error make the writing difficult to understand?

Some errors make it hard for readers to grasp the writer’s message. I dislike this kind of error more than one that’s wrong, but can be glossed over by the reader.

For example, when a writer pens a garbled introduction followed by paragraphs that lack strong topic sentences, you know that readers will struggle. This kind of error is worthy of correction.

On the other hand, some things are widely viewed as errors are open to debate and don’t—in isolation—make a piece much harder to understand.

Take “irregardless,” one of the many “mistakes” that Shea Ammon tackles in Bad English: A History of Linguistic Aggravation. “One may not like this word, but that is far cry from it not being a word,” says Ammon.

If I saw one instance of “irregardless” in an otherwise well written piece, I wouldn’t tell the author unless I was wearing my editor’s hat. After all, most readers would grasp the meaning, even though the word has an extra syllable and, as Ammon concedes, “It is admittedly difficult to offer much by way of defense to the word irregardless.”

3. What’s your relationship with the writer?

Tread carefully if you lack a close relationship with the writer, particularly if they’re senior to you in your organization. A correction can sour your relationship. It’s not just senior folks whom you need to worry about. Many people are sensitive to correction.

4. Can you phrase your correction nicely?

Be nice when you make corrections. A classic suggestion is to criticize the writing, not the person. Nobody enjoys criticism, even when they know it’s on target.

I sometimes tell complete strangers when I spot typos in their LinkedIn profiles. I write something like, “I noticed a tiny typo in your LinkedIn profile. Your title is listed as ‘investment consutlant’ with the ‘l’ and the ‘t’ reversed. You might want to fix that.” I hope that they realize I’m contacting them because I want to help.

Another reason to phrase your corrections nicely: We all make mistakes. I know I do. I’ve featured many of my own mistakes on Mistake Monday on the Investment Writing Facebook page, where I challenge readers to identify mistakes in items that I post on Monday mornings.

By the way, if you spot errors in my work, please tell me. I’ll be grateful.

If you’re working in an editorial role

Correct as much as you can, if you’re working in an editorial role. However, you may not be able to insist on the implementation of  all of your corrections. Consider my four questions as you decide how to respond to the writer’s resistance to your changes.

 

Image courtesy of Stuart Miles / FreeDigitalPhotos.net

That vs. which: Which is right?

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Writers often use “which” when they should use “that.” The reverse is also true. It took me a while to learn this myself. This post offers some guidance on your choices.

The “That” rule

“That” is for essential clauses. The sentence doesn’t make sense without the clause.

Take a sentence like the following:

Inflation that rises rapidly may hurt bond prices more than gradual inflation.

Omit “that rises rapidly” and you get “Inflation may hurt bond prices more than gradual inflation.” Does that make sense? No! Thus, “that” is required to reflect the presence of an essential clause.

The “Which” rule

“Which” is for nonessential clauses and requires at least one comma.

Consider the following example:

Inflation was rising rapidly, which was inflicting pain on bond holders.

Delete “which was inflicting pain on bond holders” and you still have a sentence that makes sense: “Inflation was rising rapidly.”

 The British exception

The British have different rules for the use of “which” and “that.” As Shea Ammon states in Bad English: A History of Linguistic Aggravation, they use both for essential clauses. However, they agree with Americans on using “which” for nonessential clauses.

 

For another take on which vs. that, read my post “The Which Trials” according to “Woe is I.” That post also contains links to more resources on which vs. that.

 

Note: The title of post was edited on Feb. 24, 2015, when I learned that “that” and “which” may not be considered pronouns in this context.

Should your investment commentary be different?

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“Should your investment commentary present a distinctive point of view?” That’s the great question posed by a participant in one of my presentations on “How To Write Investment Commentary People Will Read.”

My answer? It depends.

What is the distinctive point of view?

If a distinctive point of view means ideas that hold their own vs. leading investment strategies, that’s easier said than done. Not everyone can be an original thinker.

Another challenge: Competing with top investment strategists may also require access to world-class data to support your contentions. That may be tough if you’re at a small company with limited resources.

On the other hand, ideas aren’t the only way to distinguish yourself. You can stand out with the way you express your ideas, instead of the actual content of your commentary. Perhaps you show some personality or you’re an elegant or humorous writer.

Your audience matters

Investment commentary that displays thought leadership appeals to some audiences more than others.

For example, if you sell your firm’s tactical asset allocation services, readers will care about the originality and accuracy of how you assess markets. In short, thought leadership matters if it is an important part of your appeal as an investment manager.

Some readers won’t care whether your ideas are original or common. This is particularly true of individual investors. I believe they’d rather know that you understand them and their needs. In their case, investment commentary explaining how a recent event or trend affects their portfolio may be more powerful than groundbreaking commentary on the stock market.

What do YOU think?

I’m curious to learn your thoughts on this topic. Please comment.

What Napoleon’s first battle can teach writers

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Imagination is a powerful source of story ideas. This is what a picture of Napoleon Bonaparte’s first battle made me think when I visited the Bonaparte home on the French island of Corsica. And it can help you when you write.

Do you know what is portrayed in “Napoleon’s First Battle”? A snowball fight. It’s unlikely that the artist saw it firsthand, but the image offers a refreshing perspective on Napoleon.

What’s the lesson for you? If you’re targeting a specific audience—for example, pre-retirees in their 50s who work as cardiothoracic surgeons—write about earlier stages of their lives. You don’t have to go back to their childhood. However, showing some understanding of how your ideal prospects reached their current state will help them to trust you.

For example, you could refer to their long training, including residencies and internship, which has shaped some of the pressures in their lives.

Another idea is to write or blog about the challenges your 50-something prospects face in their 30s or 40s. This could help you to build a pipeline of ideal clients.

Have you ever tried imaging your audience at a younger age? How did it help you?

 

Is your free report “complimentary” or “complementary”?

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Offering a free report to folks who sign up for your email list is a great marketing technique. However, you risk making a mistake if you substitute a multisyllabic word for “free.”

Look at the example in the image below, which shows a sticker that appeared on a local newspaper. I feel confident the advertisers wanted to push the benefits of a free class. Too bad that’s not what they offered.
complementary misuse example
“Complementary” doesn’t mean “free.” It addresses the relationship between two or more items. Taking this ad literally, it suggests that if you pay to take a music appreciation class, it will enhance your experience in the other courses, lectures, or seminars offered by the advertiser.

“Complimentary,” meaning “given free or as a favor,” is the word the advertisers needed.

When you offer a report at no cost to your newsletter subscribers, please consider making it “free.” You’ll avoid an embarrassing mistake. Also, the single-syllable “free” is easy for your readers to absorb.

If you must go multisyllabic, please use “complimentary.”

Help your readers by linking to definitions

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Using words that your audience doesn’t understand can cut your readership. That’s why I recommend using plain language or defining terms by writing parenthetically. But what if 95% of your readers prefer terms like “quantitative easing” and “duration,” but you want to accommodate the remaining 5%?

Link to online definitions, but cautiously

Glossaries can help you cater to a small number of less sophisticated readers. You can link from technical terms to their definitions. This works well in online content, such as websites, blogs, and even in PDFs that are read online. In printed documents, you can refer to a glossary at the back of the piece or at an easy-to-type online address. However, be aware that it takes a very motivated reader to click, read the definition, and then return to your document. I’d only use this technique when less sophisticated readers are a small minority.

You can find good definitions online, with glossaries such as Investing in Bonds, the Morningstar Investment Glossary, or the NASDAQ Glossary of Stock Market Terms. You can also do a Google search, typing “Define: Term.”

Don’t blindly accept any definition you find. Read the definition carefully to see if you agree with it.

Create your own glossary

Another approach is to create your own glossary that lives on your website. This may be the only solution if you have concerns about linking to third-party websites. Your compliance professionals may worry about seeming to endorse someone else’s website or being vulnerable to changes that occur in the content after you post your link. Plus, what happens if that page disappears? Broken links disappoint your readers and damage your credibility. Creating your own glossary gives you control over the definition and your readers’ access to it.

Another potential advantage: You can cross-link from your glossary definition to other relevant content. This could increase readers’ engagement with your website.

 

Image courtesy of  arztsamui at FreeDigitalPhotos.net

Updated 7/15/21