Reader question: How can I become a freelance financial writer?

Aspiring freelance financial writers seeking advice contact me occasionally. If you’re one of them, here’s some advice.

“Freelance financial writer” is made up of three words, each of which contains clues to the freelance financial writer’s success. I discuss them below in order of importance.

“Writer”: Polish your wordsmithing

Do whatever you can to improve your writing, including

“Financial”: Learn about the business

I took many great classes through the Boston Security Analysts Society on my way to earning my CFA (chartered financial analyst) credential. Your local society of the CFA Institute, other professional societies, or colleges may offer relevant classes in person or online.

Industry experience helps, too. I took my first job in financial services back in the 1980s.

“Freelance”: Learn how to survive

You may be a great writer with a strong command of finance. But if you can’t run a business, you’re lost.

Here are some online resources for learning more about freelancing:

“Freelance financial writing”

Here are some relevant posts from my blog. While they’re aimed at CFA charterholders, they’re relevant to others who understand investments.

If you have more suggestions for aspiring writers, please leave a comment.

If you’re in New York City, you can pick up more writing tips from me at my New York Society of Security Analysts presentation on “How to Write Investment Commentary People Will Read” or the  annual writers conference of the American Society of Journalists and Authors.

Guest post: “Using Clause Analysis to Fix Your Complex Sentences”

If you can’t figure out why your written sentences are too long, then you’ll find a useful tool in this guest post by Joe Croscup. Joe was a wonderful assistant when I taught “How to Write Blog Posts People Will Read” last year. He is also an excellent freelance proofreader, with an eagle eye for catching inconsistencies.

Using Clause Analysis to Fix Your Complex Sentences

By Joseph Croscup

Financial markets are complicated. However, you must not allow your sophistication and knowledge to interfere with clear and concise writing. Understanding your clauses can help.

Common problem in financial writing

Financial writers often make two-part cause and effect statements. They say, because of a factor, the following fact, conclusion, or prediction is true. Therefore, the standard sentence contains at least two clauses. When a writer qualifies the cause or the effect, or both, a sentence is soon cluttered with three or four clauses.

Sentences overpopulated with clauses are unclear and imprecise. The reader confuses the relationship among the parts. Tortuous or excessively long sentences deplete attention and obfuscate meaning even when grammatically perfect.

No one aims to write overly complex sentences. When financial advisors report on the market in real time, it’s easy to see how confusing sentences are drafted. Writers are still formulating their thoughts during composition. However, a timely but muddled report offers little insight.

Solution: Recognize the words that identify new clauses

Your sentences are likely to confuse if you use too many clauses. If you don’t know how many clauses you’ve got, use the list below. The list contains words that act as dividers between clauses. Whenever you see one of these words, you may have started a new clause. However, be careful because some of these words−such as “and,” “or,” and “that”−sometimes play other roles in sentences.

  1. Coordinating conjunctions−“and,” “but,” “for,” “nor,” “or,” “so,” and “yet”
  2. Subordinate conjunctions−“after,” “although,” “because,” “except,” “if,” “unless,” “when,” “whether,” “while,” “though,” “unless,” “that”
  3. Prepositions introducing a clause or phrase−“after,” “except,” “before,” “until,” “concerning,” “according to,” “because of,” “instead of,” “together with,” “owing to”
  4. Conjunctive adverbs−“however,” “indeed,” “moreover,” “nevertheless,” “therefore,” “thus,” “furthermore,” “then,” “accordingly,” “also,” “besides”
  5. Transitional expressions−“for example,” “in fact,” “in addition,” “namely”

By memorizing this list−or keeping it handy−you can quickly see if your sentences have too many parts or if they are too complex. Then you know where you need to wield your editor’s pen.

At first, it may be difficult to untangle your sentences. Unlike a juggler, a writer is not always aware of how many plates he has suspended in the air. Knowing these key words will help you to determine relationships and more easily spot problems.

Poll: Want a weekly writing tip?

Would you like the option of receiving a weekly writing tip in your email in-box? Please answer the poll in the right-hand column of this blog. I won’t start this new e-communication unless there’s demand.

There are other writing tips newsletters, but I’m not aware of any tailored to investment and wealth management topics.

You may read the writing articles in my monthly e-newsletter. But it’s not easy to change a bad habit with just one reading of a practical tip. You can benefit from regular reminders.

It will be easy to subscribe, if I offer this writing tips newsletter. Please note: I will only add you to the distribution with your permission. No one will be spammed.

I look forward to learning your opinions! Please answer the poll in the right-hand column of this blog.

Investment writing challenge for my readers

Change one word in the following line to make it a more effective sentence.

The Standard and Poor’s 500 Index rose and the Barclays Capital Aggregate Bond Index fell.

Post your rewrite in the comments.

I’ve got a writing lesson in mind as I pose this puzzler. I’ll circle back later to explain it, although I wouldn’t be surprised if one of my savvy readers beats me to it.

Quick check for writers, with an economic commentary example

You CAN edit your own writing.

First-sentence check

Here’s a tip that will help you check how well your piece is structured. Read the first sentence of every paragraph. In combination, do they give the reader a good idea of your main points? If so, you’ve written something that’s likely to survive a busy reader’s scrutiny.

This first-sentence check works because strong business writing typically starts each paragraph with a topic sentence that summarizes the paragraph’s main point or topic.

You can also incorporate the first paragraph into your quick check of your writing. When I write something longer than a blog post, I like to set up my main points in the first paragraph.  This lets me convey my argument to readers who don’t have the patience to read any more.

Example: “Today’s employment report” by Cumberland Advisors

Let’s use “Today’s employment report,” a piece of economic commentary by Cumberland Advisors in Sarasota, Florida, to test the first-sentence approach to checking your writing.

Below you’ll see the first sentences of the first six paragraphs of the commentary. By the way, I’m not copying all of the first sentences because I don’t want to infringe on the firm’s copyright.

  1. Today’s employment report is a disappointment.
  2. Markets got ahead of reality; this is weak economic recovery.
  3. The United States faces the worst employment conditions seen during the entire Post World War II period.
  4. The human tragedy is large.
  5. If you look at the U-6 unemployment rate, you realize that 1 out of 6 in the labor force has either no income or pay that is less than it was three years ago.
  6. To understand the dynamic at work in the US one has to drill into the headline number.

After reading these sentences, do you have a sense of the author’s opinion on the employment report? I think so. To check the relationship between this six-sentence summary and the original commentary, go to “Today’s employment report.”

I like the commentary on the Cumberland Advisors website. It states opinions in an appealing style. I almost feel as if I’m in a conversation with the firm’s investment professionals. You can read more by visiting Cumberland’s commentary archive.

What if your writing flunks?

If your writing flunks the first-sentence test, you may simply need to tweak your content.

For example, if all but one of your first sentences work, you can zero in on the problem sentence’s paragraph of origin. Your problem may be that the topic sentence doesn’t sum up or introduce the paragraph’s main point. You can fix this by rewriting the first sentence.

Alternatively, the offending first sentence may be a sign that the entire paragraph doesn’t belong. Perhaps you’ve gone off on an unnecessary tangent. If so, you can axe the entire paragraph.

Another possibility: Your sentence and paragraph are fine, but belong higher or lower in the commentary. Move the paragraph and you may be set to go.

 

Image courtesy of Jonathan Baker Photography via flickr licensed under CC BY 2.0

“Omit needless words”–Excerpt from Strunk’s The Elements of Style

“Omit needless words,” advises William Strunk in the original edition of The Elements of Style, a bible for writers. He then says

Vigorous writing is concise. A sentence should contain no unnecessary words, a paragraph no unnecessary sentences, for the same reason that a drawing should have no unnecessary lines and a machine no unnecessary parts. This requires not that the writer make all his sentences short, or that he avoid all detail and treat his subjects only in outline, but that every word tell.

I agree.

Read the rest of Strunk’s advice on needless words.

What’s your favorite online resource for grammar, punctuation, and word usage questions?

Grammar, punctuation, and word usage questions come up every day–even for someone like me who prides herself on being a good writer.

We can all benefit from online resources that help us figure out answers to our writing challenges.

My three favorites: GrammarGirl, OWL, and Google

I often Google my writing questions.

But sometimes Google’s results aren’t on target or the sources don’t seem reliable. This is when I turn to GrammarGirl and Purdue University’s Online Writing Lab (OWL). Both are trustworthy sources that explain things clearly.

GrammarBook

Jane Straus’ GrammarBook website was brought to my attention by Jill Brogan of Martingale Asset Management after I originally drafted this post. I plan to visit this site more often. Although founder Jane Straus  passed away, her husband plans to continue her work.

Subscription-based resources

I use the hard-copy versions of the following two resources, so I imagine they’re worthwhile for organizations with budgets.

Your favorite online resource?

What’s YOUR opinion on the best online resource? Have you discovered new resources? Please share your new discoveries.

 

Note: This post has been updated since it originally appeared on Feb. 27, 2011.

 

New publishing opportunity for investment professionals

Investment professionals, mark April 1 in your calendar if you’re interested in expanding your professional publications.

April 1 is the deadline for submissions for potential publication in the September 2011 issue of the New York Society of Security Analysts’ new online peer-reviewed journal.

The society says it is “particularly interested in articles on financial regulation and risk management.”

The journal is aimed at practicing investment professionals. Here’s how it describes its goals.

  • Educate investment professionals on theory and practice in securities analysis
  • Offer a forum for the latest in thought leadership in the investment industry
  • Promote discussion among various groups in the industry: professionals, regulators, private investors, company boards of directors and CEOs, students, etc.
  • Supplement the programs and professional development curriculum offered by NYSSA
  • Serve as a career development resource for readers

Start writing today!

“Smart people”: A good ad by Bessemer Trust

“You” is one of the most powerful words in the English language. You’re much more likely to read a sentence that addresses “you” than one that starts with “we.” But sometimes alternatives work, as in a recent ad by Bessemer Trust, which uses “smart people” instead of “you.”

Do you think of yourself as one of the “smart people”? Bessemer Trust plays on its audience’s desire to be smart in its recent ad. If you still have The Wall Street Journal from yesterday, you can see it on page A5.

The ad starts with the following text:

THERE’S NO SUCH THING

AS SMART MONEY.

ONLY SMART PEOPLE.

THE MONEY JUST GOES

WHERE THEY GO.

Bessemer’s text hooked me. I’ll bet it also snared your attention.

The text benefits from being short and plain, in addition to working the “smart people” angle. It has a nice conversational tone. It sounds more like a blog post than an ad by a firm that was founded in 1907.

If you saw this ad, I’d like to know what you thought of it.

FEB. 11 UPDATE: View the Bessemer Trust campaign online

You can view the entire Bessemer Trust ad campaign on the website of www.munnrabot.com. Go to “current work” and then Bessemer Trust. Click on the ad that appears there to see more ads. Thank you, Orson Munn, for letting me know this!

Your email subject lines make a world of difference

A simple subject line can make or break the open rate for your emails.

Would you click on an email with the following subject line?

Subject: =?windows-1252?Q?Conference=20Planning=20Survey?=

I’m probably not alone in my instinct to trash this email. I figured it was probably the work of an unsophisticated spammer.

Looking at the snippet of email address displayed by my email service didn’t inspire confidence either. All I saw was “marketer-ese.” At best, I figured, this was an email from some market research firm.

However, I felt curious, so I expanded the email line. I discovered the email was from an organization I respect, but won’t name. The full email address was something like marketresearch@ORGANIZATION.com

Your bottom line: Pick your subject line carefully

If the organization had a better subject line, I would have opened it without thinking.  Something simple, such as “ORGANIZATION NAME wants your input” would have done the trick.

Have YOU ever deleted or ignored an email because of a poorly written subject line?