your client letter template kit -...

Your Client Letter Template Kit: A Step-by-Step Guide to Quickly Sending Your Client a Compelling, Informative, and Personal Letter- Monthly or Quarterly Copyright 2014 by Horsesmouth, LLC. All right reserved. No part of this report may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, scanning, recording, faxing, emailing, posting online or by any information storage and retrieval system without permission by Horsesmouth, LLC. Unauthorized use, reproduction or distribution of the material contained in this report is a violation of federal law and punishable by civil and criminal penalty. Multiple copies of Horsesmouth reports may be purchased. Edition 1.0 For information contact: Horsesmouth, LLC. 888.336.6884 (Outside the U.S.: 212.343.8760) [email protected] 21 West 38th Street New York, NY 10018

Copyright © 2014 Horsesmouth, LLC: All rights reserved. It is forbidden to copy or transmit this guide in any manner. Unauthorized use, reproduction or distribution of the material is a violation of federal law and punishable by civil and criminal penalty. To request permission and more information contact [email protected]

Contents Introduction Why send letters and articles? ................................................................ 2 Authorship and use rules ........................................................................ 3 Designed to make it easy ....................................................................... 3 Background Editing steps with notes and tips ............................................................ 6 Special Editing Using bits and pieces ............................................................................. 10 Moving content around .......................................................................... 11 General Editing Tips Editing best practices ............................................................................. 12 Common punctuation and grammar ........................................................ 15 Primary Editing Checklist Step-by-step without notes .................................................................... 16 Planning/implementation Overview ............................................................................................... 18 Organize ............................................................................................... 19 Folders and naming files/documents ....................................................... 19 How to estimate/determine your editing time .......................................... 20 Editing time tracking sheet ..................................................................... 21 Block Time and Follow Through Checklist: Getting started ....................................................................... 22 Set documents-editing flow .................................................................... 22 Regular tasks checklist ........................................................................... 23 Letter/Article Templates: Editing Examples Introduction .......................................................................................... 25 Editing the template .............................................................................. 27 Fully edited white paper ......................................................................... 32 Blog post ............................................................................................... 35

How to Edit Letter/Article Templates

Page 2 Copyright © 2014 Horsesmouth, LLC: All rights reserved. It is forbidden to copy or transmit this guide in any manner. Unauthorized use, reproduction or distribution of the material is a violation of federal law and punishable by civil and criminal penalty. To request permission and more information contact [email protected]

Introduction

Why Send Letters & Articles? Surveys of people who work with financial advisors illustrate three reasons to stay in touch with your clients using articles and letters:

The most common complaint from clients is lack of contact from their advisor.

The second most common complaint is their advisor primarily contacts them to try to sell something.

The number one reason people switch advisors? See above.

No Time to Read and Write Most advisors have good access to content they could use to communicate with clients and prospects. A recent survey of Horsesmouth members revealed the majority spend from two to ten hours per week reading about the markets and the economy:

Spend two to three hours per week 21.4% Spend five hours per week 14.8% Spend ten hours per week 18.9% Most advisors also know there is value in communicating with clients. In addition to reading to be professionally well-informed, most report that sharing topical information with clients is vital for credibility and relationship-building. Most advisors also report one significant catch: Few have the time to translate what they read into material appropriate for clients. This is the driving reason behind Horsesmouth’s monthly Letter/Article templates.

About this How-to Since 2008, Horsesmouth has offered templates which provide a starting point for advisors who want to connect with clients and prospects using newsletters and other communiques. These proved to be so popular they’re now offered monthly. This document provides step-by-step instructions and tips to make editing and using the templates easier and more effective.



When, Where, etc. New Letter/Article templates added within the first full week of each month. To find Letter/Article templates:

Log into Horsesmouth.com

Choose the Client Management tab

Look for the typewriter icon and “Create a Letter/Article” with month shown

For example: Click on the link. You will see the Letter/Article, as well as a link for downloading the

Word file. To find past Letter/Article templates, search for headlines using “Letter.”

Authorship and Use Rules Letter/Article templates are researched and drafted by Charles Sherry. Charles has a Masters of Science (M. Sc.) in finance and years of experience writing on financial matters. You may use the content in full and show Charles Sherry as author.

You may use the content in full without showing Sherry as author— you are the author.

You may edit the content to make it fully your own (do not show Sherry as author). You can certainly use the content in letters. You can also use the content:

In newsletters

On your website, in blog-posts, and on other social media

Designed to Make it Easy These are “templates” because they’re designed to make effective letters and articles as easy as possible. This ease covers content, format and flow.

Written for the layperson—your clients and prospects—in a conversational tone

Create a Letter/Article (July 2014) Use this template to stay in touch with clients. Topics covered in this letter/article: Latest upward trend in stocks, why Europe matters, Iraq back on the front page, and the US economy.



Your clients aren’t inclined to wade through technical articles, and a conversational tone projects confidence. The clear, easy-to-understand explanations spotlight your expertise as an advisor.

Written in first-person

This means the content can come direct from you. First-person also tends to make the content more personal for each reader, as if you’ve written something specifically to each of them.

Cover a range of topics, just as the markets and economy do

There is so much going on that it can be a challenge to choose what to write about. These templates cover more than one topic and yet have a cohesive theme.

Cover each topic concisely

Most readers scan content, especially on email and the web. Concise writing appeals to this majority, as well as makes the key points easy to understand. Concise writing also means topics can often stand alone, so you can use smaller pieces of each Letter/Article as you wish.

Include opinion and perspective, not just facts

Engaging clients is a two-way street. Articles and letters which express your perspective strengthen your ability to engage.

You can use the opinions in the templates as-is or edit them to suit. Some advisors find they disagree with the opinion and seeing it on paper makes it easier for them to quickly write their own version.

“What it means to you” content aligns with many advisors’ approach

Topical content focuses on what’s happened in the last month or quarter. This is well-balanced with messages about investing for the long-term and sticking with the plan.

Effective format and flow



Each Letter/Article template includes attention-grabbing headings and sub-titles, giving you an effective format so you don’t have to add that. The flow is also sound—even when you delete content.

Designed for Deletions Other templates merely provide place-markers and prompt you to add content. Our approach is much different. Sure, you can add content or re-write whole sections if you want to. The beauty of these templates is you can also simply delete what you don’t want and still have well-written, effective material.

Editing Examples This document covers how to edit templates step-by-step. For examples showing editing of a Letter/Article template see “Template Editing Examples" located at the end of this report.



Background

Editing Steps with Notes See page 15 for a checklist without notes Getting Started 1. Download the Word file (see link at top of Letter/Article). Do not copy from the web

page. Why: Copying from the web page creates formatting issues you’ll have to clean up later. Problems will occur whether you paste to a Word document, to email, or into web content. So don’t copy from the web page, download the Word file instead.

2. Open the Word file. Enable editing if needed.

Do a save-as and give the new file a name that helps you find it later.

For example: Original file name: Client_letter_template_7_9_14.doc

Save-as file name: Newsletter article July 2014.docx

Why: Doing a save-as ensures the original version is there as convenient back-up.

3. If the finished item will be a letter, article, or “white paper” on paper:

Change the document page layout to match the finished document: same margins, line-spacing and justification (how text is aligned on page). Why: Some edits jump out because of spacing and paragraph breaks. Making page layout changes now makes these more apparent and saves time toward finalizing the document. Note: Unless they really bug you, leave the fonts as-is for now.



4. Print the full Letter/Article from the Word file. Do not print the web page. Why: Printing from the web page uses more paper, and may print using font-size that’s too big or too small to work with. In addition, if the finished item is to be printed, you want to see the item as close to how it will look to others from the start.

Complete steps 5-8 on paper (not looking at document on monitor)

Your brain absorbs and processes what’s on paper more easily and thoroughly.

Making notes on paper engages more of your body, which promotes attention to detail and creativity (editing is a creative process).

In short: Reading and editing on paper is faster and more effective. 5. Read through the entire printed Letter/Article but do not make any edits.

Why: This familiarizes you with its entire content. As strange as it may seem, reading through before you start editing will actually save you time overall. Some people find one read-through is sufficient, others prefer to read-through more than once. Experiment to see which works best for you.

6. Starting at the beginning of the printed Letter/Article: Line-through any parts you want

to completely delete. Do this for the entire template from start to finish.

Important: Pay special attention to content stating opinion, philosophy or approach. Does it reflect your own?

When you delete sentences and paragraphs you may need to add content so it reads smoothly. However, do not make these additions yet—just cross out the stuff you want to delete.

Why: Editing slows down if you work on deletions and adding content at the same time.

7. After you have marked stuff for deletion, loop back and look at the content before and

after the deletions.

Do you need to add something to tie remaining content together or to make a smooth transition? Tip: If you do, there are a couple options:

a. Hand-write the additions on the document (fine-tune them later).

b. Make a note or mark in each spot on the document, and type these additions as you complete step 10.



8. Still using the printed Letter/Article, add notes or marks where you want to add or replace larger amounts of content. For example:

You want to replace or re-write the introduction You need to re-write content expressing opinion so it accurately reflects your own You want to add a close that promotes an upcoming seminar Why: Most people find it hard to write-out this kind of content on paper. So make a note or mark where you plan to put it, and work on it in step 12.

One edit at a time for the entire document

Many of the steps shown below involve making one type of edit throughout

the whole document. For example: completing all deletions, and separately completing all of the smaller edits.

Doing the same type of thinking is faster and more successful.

In contrast, if you work on making all edits to one paragraph your thinking has to switch back and forth. This takes longer and things tend to be missed.

As you go through the entire document from start to finish you automatically

have context and flow. Otherwise, you have to recognize that you need context and then “go back” and read to get that context. This takes longer, too.

Open and use the Word file. Use printed document as reference for edits. 9. In the Word document: Delete the things marked for complete deletion. Do not delete

things you will re-write or edit in other ways.

Complete all of these deletions throughout the entire document, from start to finish.

Don’t worry about “losing” content because it’s in the original file and on paper. 10. Now (on the monitor) read through the document from start to finish.

Make sure the remaining content flows and transitions smoothly.

Make additions and changes as needed. Tip: If you have trouble referencing the printed document with a bunch of deletions marked on it, use the editing process described on page10 in the Special Editing section (moving stuff around).



Use the notes and marks on the printed document for reference, but also use what’s now on the monitor. 11. Run through the entire document from start to finish and complete the smaller edits.

Do this for the whole document before completing the next step. Examples of smaller edits: Changing a word here and there, changing an em-dash ( — ) to a comma, and so on.

12. Run through the document from start to finish and complete all significant re-writes and additions.

Why: Making significant edits within the flow of the document is faster because you have context. Tip: As you complete the significant edits, pay attention to changes you may need to make for smooth transitions—these often jump out at this time. Either make these edits now, or note them and complete them separately. Note: There is one exception to the “from start to finish” rule: If you are re-writing

the introduction, work on it last.

Why: The introduction is the hardest part and people often get stuck on it. But by the time you’ve edited the rest of the document the introduction will come more easily.

13. Change fonts and/or font-size if desired.

Note: Font-choice is completely subjective. However, it’s usually best to use two at most: One font for headlines and sub-titles, and a different font for the body text. Make sure these are consistent throughout the document.

14. Take a look at headlines and sub-titles. Any changes?

Complete those edits. 15. Print the finished Word file. (Put aside overnight, if possible)

Read through it to catch any typos, weird line-breaks, etc. Make corrections.

16. Adjust for communication format

Tip: Save-as first if using same content for more than one type of communication. For example, sending letters, and posting some of the content in website blog.



Special Editing

Using Bits and Pieces Many of the templates are purposely lengthy. Providing more content than you may want means you don’t have to spend time and effort beefing things up. If you wish to cover just one or two of the topics, or use just a few paragraphs, you may need to edit a bit differently. Here are the general steps: 1. Read the printed document in full at least once.

2. Read again, circling or marking the topics or content you want to use.

3. Now look at the associated headlines and sub-titles. Also look at the content right before

and right after each piece (or pieces). Do you have content that stands alone and makes sense?

Tip: See if the headline essentially summarizes the content, or see if you can create a headline that does that. If it doesn’t stand alone: Do you have content that leads-in to the topic, and content that closes or sums it up?

If you do, include that content and you probably have a cohesive piece. If you don’t have that lead-in and/or close, plan to write them.

4. Once you have the above draft free and clear of the rest of the template content; apply the

regular editing steps, starting with making small edits. General tip: If the content will probably be relevant one or more months from now, edit a bunch of these in advance and then post or send them out over time.



Moving Content Around When you move content, transitions may no longer work and content may lack context. Because of the impact, it’s best to move content early on. Recommended steps in overview: 1. Read the printed document in full at least once. 2. Mark any content to be deleted.

3. Open the saved-as Word file. Complete deletions for large amounts of content only.

For example:

If entire paragraphs are to be deleted, go ahead and delete at this point.

If you plan to delete just one or two sentences in a paragraph, note that on the printed draft but do not complete the deletion at this point.

4. Save-as and give the document a different name. Move content to the new spots.

You now have the original file, the version after deletions, and the version with content moved around. This makes it easier to go back to or use the version without things moved (which people often end up doing). 5. Print the current version—the one with content moved to the new spots. Using the printed

document:

6. Look for transitions that must be changed or added. 7. Confirm the minor and smaller deletions. Mark any new deletions. 8. Note where you want to add or replace significant amounts of content. 9. Note other, smaller, edits.

10. With the Word file open and the printed document with editing notes for reference:

Complete the edits listed in steps 6 through 9, one by one. (The exception is to write any new introduction last.)

11. Change font sizes as desired. 12. Edit headlines and sub-titles as desired. 13. Print and proof the document. 14. Make corrections as needed.



General Editing Tips

Editing Best Practices Make time, and make it systematic:

Block time in your (and your assistant’s) calendar to handle: reviewing each new template, editing, proofing, and disseminating to clients and prospects.

Create folders to hold the various versions, including originals and finished items. Each Letter/Article template is shown on a web page so you can quickly scan it and

decide whether you want to use it.

However, scanning may not do all of the content justice. You may want to download the Word file, print, and read when you have some time to absorb it in full. (Read it again as you begin the editing process.)

Remember: Do not copy content from the web page. Download the Word file and use it.

Why: Even though you can copy content from the web page and paste it into Word, this creates formatting issues you’ll have to clean up later. Formatting issues will also occur if you copy from the web page and paste into a web-page editor, such as WordPress.

Experiment with line spacing at 1.5 for the printed document and early editing.

Some people find this gives them the room needed for handwritten notes and marks. (After reading and making editing notes, replace this line spacing in the document.)

Turn off Grammar-check. Do not use the Review function for editing.

Why: Microsoft’s grammar is highly restrictive. (For example, the above bullet is “wrong.”) Active grammar-check adds unnecessary steps to editing along with squiggles that may distract you.

Using the Review function means you’re working off the monitor, which actually slows things down overall. In addition, the Review function adds hidden content that creates problems if you copy content to other documents, to email, and to web page content.



As you type, beware old-school space-space after periods. Learn to use just one space.

If you’re old enough to have learned to type instead of to “keyboard” then you may have the habit of hitting the space bar twice after a period. This was designed to spread sentences out on the page. Word processing programs do this automatically and the old habit adds too much space—it looks unprofessional.

If you have not yet rid yourself of the space-space habit:

a. Choose Find and Replace. (May be just Replace in your version of Word.) b. In the Find field: enter a period and then hit the space bar twice c. In the Replace field: enter a period and then hit the space bar once d. Choose Replace All. (Voila!)

Line-spacing and line-justification:

Line-spacing is a matter of taste. However, the following two settings tend to look more polished and are much easier to work with than Word’s default:

a. Before and After: 0 pt Line-spacing: Single

b. Before and After: 0 pt Line-spacing: Multiple at 1.15 Line justification is also a matter of taste. Most of this document uses Full.

You may want to change the main content font in the Letter/Article templates.

Fonts for on-line content: The general rule is to use a sans-serif like Arial or Calibri because these are easier to read on monitors. (Your web-page editor program or email program may make this change automatically.)

Fonts for printed items: The general rule for items to read from paper is to use a serif font like this one (Times New Roman), Palatino or Mercury text. These are easier to read from paper.

That said…Fonts come in and out of style, and your own preference counts.



Create and use a formatting cheat-sheet so your items have a consistent look and feel. Once you have a Word document formatted the way you want it:

a. Print one or two pages which show content, headlines and sub-titles. b. Hand-write font sizes (and font names if not obvious) by a headline, sub-title, and by

regular content text. c. Also note line-spacing and margins.

You may want to copy a couple pages and duplicate the above in a Word document (type in the notes).

Do not edit by committee.

Why: Involving more than one person in content-editing will almost certainly slow things down—and drive all parties crazy. If you have a partner, rotate editing control month by month. If you have an assistant, either fully delegate the task, do it yourself, or rotate.

If the template has been edited quite a bit, have someone else proof-read it when possible.

It can be very helpful to have a fresh set of eyes on the finished draft document. (Note: Templates have been proof-read before they are added to Horsesmouth.)

Print the fully-edited Word document and put it aside for a while before reviewing to

catch errors.

Why: We can get too close to the content when editing, which leads to overlooking errors. Taking a physical break, especially overnight, prevents this problem. (Taking an overnight break also helps if you get stuck when writing.)

Use a punctuation and grammar cheat-sheet if needed (see next page). There are two

situations for which you may want the basics handy:

If you’re unsure whether you’re seeing errors in the templates.

If you add a lot of content.



Common Punctuation & Grammar From “Woe is I,” by Patricia O’Connor

Sentence Punctuation

A comma is a yellow light

A period is a red light

A semicolon is a flashing red light

Use colons to present something: a list, a statement, or instructions. If what comes after the colon is a complete sentence, start it with a capital letter.

Quotation Marks *

Period and comma always go inside

Colon and semicolon always go outside

* British-English rules may differ

Question marks usually go inside:

He asked, “When is this over?”

But question marks go outside when not part of the quotation:

Remember who starred in “Dynasty”?

Misc.

e.g.: is short for exempli gratia and means “for example”

i.e., is short for id est and means “in other words”

Both are followed by comma, colon or semicolon (parentheses are optional)

A person can be either a that or a who

A thing is always a that

If you use a bullet and there is more than one sentence, show periods at the end of each sentence. Ditto if the sentences are complex, or long.

Some say use of periods with bullet-points should be consistent.

There are two kinds of editors: one adds “that” wherever possible, the other takes it out. Same goes for commas. (Each are a matter of taste.)



Primary Editing Checklist

Format cheat sheet ready

Find latest Letter/Article template

1. Download Word file Save to ___________________________ folder Do not copy from web page

2. Open Word file (Enable editing)

Save-as and rename Save in ___________________________ folder

3. For items on paper: Change page layout to match finished document:

Margins

Line-spacing and paragraph

Alignment

Change fonts Note: Only if you can’t stand to wait

For all items: Complete steps below on paper (not by looking at document on monitor)

4. Print Word document

5. Read through entire Letter/Article to get familiar with content

6. Read from start to finish: Line-through parts to delete Pay close attention to opinion, philosophy, approach: good match?

7. Back to content to delete: Note any need to add or edit for smooth transitions

8. Working from start to finish: Note where large amounts of content will be added and/or replaced. e.g., Re-write introduction, edit opinion content, add promotion of seminar

Pay close attention to opinion, philosophy, approach



Primary Editing Checklist Continued

Open and use Word file: Use printed/marked document as reference

Complete each type of edit below for entire document, one-by-one

9. In the Word file: Complete deletions (Do not delete things to be re-written or edited)

10. Working from start to finish: Focus on flow and transitions and add or edit

11. Work from start to finish: Complete smaller edits e.g., Change words, add or delete commas, add paragraph break Pay close attention to opinion, philosophy, approach

12. Work from start to finish: Complete significant and larger edits or additions Except for editing the introduction e.g., Add explanation of “The Fed,” re-write opinion content

Edit introduction as needed Tip: Print and read the document first

13. Change fonts and/or font-sizes

14. Evaluate headlines and sub-titles: Edit their content as needed

15. Print finished – edited – document from Word file Tip: Put aside overnight if possible

15. Proofread and make corrections as needed Tip: Have someone else proofread the document

Finished Word document saved in: ___________________________ folder

16. Use content from Word document and adjust for each checked below Check which apply, then check when ready to send

Do Ready Do Ready

Letter e.g., add mail merge Newsletter

Email e.g., MailChimp or direct Web e.g., home page, blog



Planning/Implementation

Overview Once a template has been edited for content it may need to be further edited and readied for the communication format or tool. For example:

Printed letters need a date, salutation, signature, and be readied for mail merge

Web content may need to be edited so it is more concise or shorter

Email with a link to web content may need added summary or teaser content

Just one communique? If you are using template content for just one type of communication (e.g., you’re only sending letters), you can set up the document format as you start to edit content.

More than one communique? If you’re using content from one template for more than one type of communication (e.g., letter and blog post), you may need to repeat some of the editing steps for the additional item or items.

Editing content is just the beginning Last but not least, different types of communication require different follow through:

Letters must be mail-merged, stuffed into envelopes and mailed

Web content has to be loaded into a web editor or provided to a webmaster

Email content has to be put into your email marketing system, and sent The details of these and other tools vary too much to cover here; however, general planning checklists are provided in this section. You may want to adjust them to create your own fully-customized checklists.



Organize

Create folders and sub-folders to hold the various files and documents, including items that have been posted, sent, and so on.

Folder to hold: Folder name and location:

Downloaded original templates Tip: Do not change these file names

Templates in editing process

Tip: Keep format cheat sheet and Editing checklist blanks here

Edited items not yet sent, posted, etc

Tip: Keep Planning Checklist and your customized checklists blanks here

Items sent, posted, etc. (As many folders and sub-folder as needed)

_____________________________ _____________________________

_____________________________ _____________________________

Naming Files and Documents

Save time and hassle by creating and using naming “conventions”: specific ways to name files. The idea is to easily know what’s in them from their name. For example:

(Two items from the same original template)

Newsletter file name: Blog article file name:

Newsletter Aug 2014.docx Why Europe Matters 08 2014.docx Tip: Keep the downloaded original template file name the same so you easily know what you have versus what’s available on Horsesmouth.com. If you work by yourself, it may not be necessary to create a naming cheat sheet. Otherwise:

File naming sheet created: Name & location: _________________________________



How to Estimate/Determine Editing Time

How long will you need? Well… Start with a PFA—pulled from air—and double or triple it. Then track your actual time for a few months and use that data. A blank tracking sheet is provided on the next page. Track the whole thing.

For example: Track starting with reviewing a new Article/Letter template, to sending yourself a test email and hitting the “schedule” button.

Expand what you’re tracking as appropriate. The most common example is to track time

for an entire newsletter, even though the template provides just one article in it. If you use more than one communication tool, track each of them so you can block time

accordingly.

For example: Track time used to create an entire newsletter; and separately track time used to pull some content and get it posted on your blog.

Remember to include time you spend writing and/or researching.

Examples of writing include writing a whole new introduction or close. Examples of research include researching someone quoted in a Letter/Article template to see if you feel comfortable including the quote in your finished article.

Some people find tracking specific tasks is helpful, others track in a more general way.

If you use more general tracking, track the big chunks of tasks: i.e.: content editing, readying letters for mail, formatting and sending email, and editing and adding to blog.

This data will guide time-blocking for better time management, and informs which communication items have the best “return.”

Round time up to one-quarter of an hour (15 minutes).

You may or may not get faster as time goes on. (Because you’re editing someone else’s

work, and because you’re probably working on this only once a month.)



Editing Time Tracking Sheet

Working on (note what you’re doing) From To Total Hrs

Example: Transfer content into MailChimp email 7 AM 8:07 AM 1.25

Total or Sub-total



Block Time & Follow Through

The key to success is to put time in your calendar and then stick with it. The tasks you may need to block time for are shown below and on the next page.

Checklist: Getting Started & Big Picture Tasks

Set Communication/Marketing strategy and schedule At minimum: What types of communication will generally go out, and when

Establish accounts for communication/marketing tools e.g., email tools such as MailChimp or Constant Contact, Twitter, blog or website

Organize (Folders, Naming)

Block time for regular tasks for next ____ months (block as far ahead as possible)

Block time to evaluate feedback from clients, and results (e.g., every six months)

Download and evaluate all Letter/Article templates available so far (You may or may not want to use content from these)

___________________________________________________________________

Set General Documents-editing Flow

The checklist on the next page has space for four items or types of communication. This reminds you to block time to handle each and all items.

Identify the order in which you’ll edit. Start with the item that has the most content. Each subsequent item has a lesser (or equal) amount of content when you’re finished editing it. Largest communication (most content): a

Next on edit list: b

Next on edit list: c

Next on edit list: d

Note: Identify each of the above on the checklist on the next page



Checklist: Regular Tasks (Completed monthly, bi-monthly, etc. depending on schedule)

Time to block = Amount of time needed to finish task and to schedule in your calendar Show the total time in this column. Schedule in increments as needed.

Time to Block

Download and review most recent Letter/Article template Schedule this for the middle of the first week of each month

Edit content for (a) ___________________________________ The single, or largest, communication item

Proofread finished item and make corrections as needed

Get ready for sending

Edit content for (b) ___________________________________



Edit content for (c) ___________________________________



Edit content for (d) ___________________________________



Letter/Article Templates Editing Examples

Introduction

Page 25

Examples use the Letter/Article Template for August, 2014

You may want to download and print the original template so you can compare it to the editing examples

For step-by-step guide, checklists, and tips, see: “How to Edit Letter/Article Templates”

Remember: Editing choices are individual You may have made different choices

Introduction

Page 26

Two Items from One Template The template has been edited by an advisor and you’ll see personal notes from that advisor. These notes are shown using this font. Notes are shown on the left. Edited content is shown on the right. Like so:

Reversed the order in second sentence

Let's start with the Fed. It is tasked with setting monetary policy via its control over short‐term rates, among other things.

The advisor who has made example edits is just starting to use the templates for monthly communiques. His communication plan includes two items and so this document includes three examples of editing: Page 4

Example #1 shows edits of the original template

The idea is to show edits within the flow of the template as much as possible so you can compare it to the original if you wish.

The exception is editing of the introduction (other than marking things for deletion). Best practices say tackle the introduction last so the edited introduction is shown with the fully-edited example #2.

Page 9

Example #2 shows the template edited for a white paper-style item. This shows the final version of the edited template, including the introduction.

Page 12 Example #3 shows a blog post.

Using best practices, the blog post was created last because it is the smallest item.

Though the blog post includes a good deal of content from the original, its approach to explaining “slack” differs from what’s in the template. You may or may not agree with that explanation.

Remember: Editing choices are individual You may have made different choices

Editing Example #1: Editing the Template

Page 27

Introduction content — edit this last The exception: Noting things you’re sure you will delete

I’ve deleted references to the prior letter/article because this is the first one I’m sending out.

Client-article/letter template: A look back at July When I addressed you at the beginning of July, I reserved a fair amount of real estate for global central banks and their influence over financial markets. The focus in June: the European Central Bank. At the time I quoted the late great Marty Zweig, the influential and highly respected Wall Street icon, who noted in Winning on Wall Street:

The monetary climate – primarily the trend in interest rates and Federal Reserve policy – is the dominant factor in determining the stock market’s major direction.

By now, you know that I stress themes that are most important in each month, and for July, it was the Federal Reserve's monetary policy. It exerts enormous sway over the economy. Because the Fed controls the money supply and short‐term interest rates, it exerts enormous sway over the economy as well as influencing the price of stocks and bonds. In addition to Fed policy, I will talk about some of the other factors that played a role in the markets in July, including the economy, which ties into Fed policy, and quickly touch on events around the globe. Before we jump in, I want to reiterate: my team does not have a crystal ball. But then again, no one does! Not even those smooth‐talking sales professionals (and I the use the term 'professionals' loosely) who claim they can successfully move you in and out of the market at just the right time. I’m not alone in my thinking. The legendary investor Warren Buffett sums it up this way— We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, … I continue to believe that short‐term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown‐ups who behave in the market like children. Whoever said Mr. Buffett doesn’t have a sense of humor?! Unforeseen events can and do influence asset prices. Our goal is to manage risk by allocating the funds you have entrusted to us among a series of asset classes. Simply put, we diversify and seek out quality. As I said last month, We will sometimes run into unanticipated bumps in the road and there will be other are times when a traffic jam will unexpectedly delay our financial journey. We saw one such pothole at the end of July, when the Dow lost over 300 points in one day. That’s not the first time we’ve seen such a decline and it won’t be the last. But the plan we recommend incorporates those slowdowns as part of the trip. Again, following Buffett’s philosophy, “I try to buy stock in businesses that are so wonderful that an idiot can run them because sooner or later, one will.” It’s not that quality isn’t affected by any day‐to‐day volatility. It is. But it’s something we don’t get too concerned about.

End of introduction content: Edited version shown in example #2 Template & editing continued on the next page


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Notes Edited Version

Revised the headline The Fed, jobs, interest rates, and slack The Fed, Slack, and Tricky Labor Reports That’s a mouthful, but they are all intertwined, and I’ll explain.

Reversed the order in second sentence

Let's start with the Fed. It is tasked with setting monetary policy via its control over short‐term rates, among other things.

Compare to original to see edits

We only need to look at the returns on super‐safe fixed income investments to see the impact of Fed policy. Though we’ve had challenges on the income side, the Fed’s monetary policy has been a boon to stocks.

Original version: See note below

Jobs come into play because the Fed has pledged to keep the Fed funds rate near zero for a considerable period in order to release the “animal spirits” in the economy and boost employment growth.

Note: Keynes reference in original won’t make sense to my clients, plus “jobs” was deleted from headline.

Edited version The Fed has also pledged to keep the Fed funds rate near zero for a considerable period in order to boost employment growth.

Reversed sentence

order and edited a bit We now come to “slack,” a new term being bantered about. Slack is being debated by a number of economists as it relates to the job market. Fed Chief Janet Yellen is watching it closely and it has a direct bearing on interest rates.

Note: Took a different approach to defining slack but used a lot of the original content, too. (The “slack” content inspired me to create a blog post. You’ll see this in the third example.)

Added quote marks So what is “slack”?

Compare this version to the original to see how

some of its content was used

Remember: Editing

choices are individual

You may or may not agree with this

description

An image may help: Picture how mountaineers connect themselves to a single rope to help keep all of them more secure. At one end of this rope is a group of people who can and want to work, and have the skills needed. At the other end of the rope are jobs appropriate for those workers. Ideally, there is just enough slack between the group of jobs and group of workers: not too much, not too little. Unfortunately, right now there are more qualified workers than there are jobs. The pace of adding jobs is not keeping up, which creates excess slack. That’s where the Fed’s low interest rate policy comes into play. Yellen wants the economy to expand fast enough to create the necessary jobs to reduce the excess slack. If low rates can stimulate economic activity by encouraging consumers and businesses to spend, it can fuel faster job growth without too much inflation (which is key).


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Notes Edited Version Felt this would confuse

my clients. Same goes for the content deleted below.

However, if the steep drop we’ve seen in the unemployment rate since the recession ended is an accurate reflection that many folks who want jobs have been able to get jobs, low interest rates may not do a whole lot, and rising inflation becomes a risk.

Some of the indicators Yellen uses to measure slack include the large number of longer‐term unemployed, which suggests there is a ready supply of labor available to satisfy the hiring needs of businesses if growth were to markedly accelerate.

Good transition, even after deletions.

Yellen and her cohorts at the Fed also look at wage and salary increases. And here is where it got a little tricky at the end of July.

I actually like the score-keeping content

and may use it in the future. Would show

scores as bullets

In theory, a large supply of labor would likely give employers leverage over current and potential employees. Simply put, it’s the law of supply and demand. If the supply of labor exceeds demand, then businesses don’t have to offer much in the way of wage concessions.

American Business: 1, American Labor: 0.

But if the available pool of labor is shrinking, then we should see upward pressure on wages and benefits.

American Business: 1, American Labor: 1.

Add headline here?

(Will decide later in editing process.)

Added this line

Added a S to “month” Changed to bullets.

Compare to original to spot other edits.

According to the July Labor report:

Job growth has accelerated since the start of the year, with over 200,000 new jobs created in each of the last six months. That hasn’t happened since 1997.

Average hourly earnings was unchanged in July and is up a muted mere 2.0% from last year versus one‐year ago.

Note: Consider opinion-content such as what’s below carefully!

Changed labor force to labor market.

You’ll get no argument from most Americans that wage growth has been weak. And, per Bureau of Labor and Statistics, the rate is showing no signs of accelerating. If that’s the case, we still have excess slack in the labor market force, and the Fed can patiently continue its low‐rate policy.

Moved this Investors clamoring for higher returns on CDs won’t be seeing much relief.

Used bullet for consistency

On the other hand, a more comprehensive gauge of labor costs released just prior to the July employment data may suggest otherwise. The Employment Cost Index takes benefits into account. This index:

Jumped 0.7% in the second quarter, its biggest one‐quarter rise since 2008.


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Notes Edited Version

Compare to original to see small but important edits

It’s possible that robust increase is simply payback after the index’ anemic increase in the first quarter (0.3%). But worries about rising employee compensation seemed to be a good excuse to lop 317 points off the Dow on the last day of July.

Changed order of next to last sentence,

among other edits

Why? Because upward pressure on labor costs suggests dwindling slack. If that’s the case, price stability may be threatened, which may in turn fuel Fed rate hikes sooner and more quickly than expected. It’s the Street’s way of saying good news is bad news.

Remember: Carefully evaluate opinion content, and edit to match yours

Was part of main text My two cents

Deleted because it may

confuse my clients

Be careful about assigning too much importance to one data point. Look at trends instead.

The current evidence does not suggest businesses are grappling with labor shortages and rising wage pressures. And, at this juncture, Fed Chief Yellen is in no hurry to boost interest rates. In early July she noted that that faster‐than‐forecast job growth could push the Fed into a quicker‐than‐expected series of rate hikes. However, Late July’s Fed meeting produced no indication monetary officials are considering such a path.

The original template included a table showing stock performance by index. I’ll use it in my blog. Remember: Template looked back at July, 2014, and now looks forward

Changed font size Looking ahead

Changed numbers to bullets

Geopolitical instability – I consider these questions:

This paragraph had been second

Found and corrected a couple typos in

content to the right (Hey, it happens)

Will a global hotspot materially affect the buying decisions of U.S. consumers and businesses? Will it affect U.S .exports and the earnings of multinationals? (The latter is of somewhat less importance.)

Conflict in Ukraine, downing of a Malaysian passenger plane, continued instability in Iraq, and fighting between Israel and Hamas are all newsworthy. However, such events rarely have a long‐lasting impact on the U.S. economy and the markets.

Some worry that tougher European Union sanctions against Russia may hurt European companies, and Germany’s market reacted accordingly in July. This issue is worth keeping an eye on but our focus is on the longer‐term and we believe this too shall pass.

Deleted repeat

of “eye on” phrase Keeping an eye on The U.S. economy:

Given the Fed’s likely continued low‐rate policy, investors clamoring for higher returns on CDs won’t see much change.

Job growth has accelerated markedly in recent months and the Gross Domestic Product rebounded nicely from the from the winter‐induced contraction in the first quarter. (Up 6.0% before adjusting for inflation, 4.0% adjusted for inflation.) Both of which stand to support revenue and profit growth.

Take Extra Care With The Close


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The end of each Letter/Article template often references approach, perspective, and philosophy.

Review the content carefully and edit to ensure it’s a good match for your own.

Tip: By the time you get to this point in the template you may have editing fatigue. You may want to put editing aside and come back to it when refreshed.

Notes Edited Version Remember when Roger Daltrey asked, “Who are you?”

Added this line.

Compare to original to see how content

in these three paragraphs

was moved into a different order

In this case, the question is, “Who are you as an investor?” Many find it easier to stay committed to their financial plan when the market is moving higher. It's the bumpy times that sometimes scare investors into unplanned actions. But these deviations usually create a need to backtrack, losing valuable time. Sleepless nights generated by market turbulence are not for you! Your goal is to obtain a particular financial objective and I am here to advise and assist. As I do that, I take care that you do not take too much risk for your particular situation. A number of variables go into this evaluation. A balanced portfolio helps to manage that risk and keep you on track. I hope you’ve found this July review to be both educational and helpful. As always, I’m honored and humbled that you have given me the opportunity to serve as your financial advisor. Please feel free to give me or any of my team members a call.

Notes About Example #2: Starts on Next Page

The item will go out with a letter introducing it as a new monthly feature.

I’m using a white paper format but refer to it as an “article.”

The example starts with the fully-edited

introduction (compare to original to see edits).

The item will be printed so main font is serif (Times New Roman).

Paragraph spacing: 1.15 (multiple) The example’s margins are roughly the same as

finished white paper.

Header and footer will show the paper’s title and my contact information.

Editing Example #2: Fully edited white paper/article communique

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Fully-Edited Example #2: White Paper/Article

A Look Back at July

At the end of July, the Dow lost over 300 points in one day. In this month’s article:

The key factors behind that sharp decline

An introduction to “slack”

Before we jump in, I want to note that July was not the first time we’ve seen such a decline and it won’t be the last. As advisors, one of our goals is to manage risk. Simply put, we do that by diversifying, seeking out quality, and guiding investments with a long term view. The legendary investor Warren Buffett agrees with this approach and sums it up this way –

“I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.”

Whoever said Mr. Buffett doesn’t have a sense of humor!? Now let’s take a look at what happened in July.

The Fed, Slack, and Tricky Labor Reports

Let's start with the Fed. It is tasked with setting monetary policy via its control over short-term rates, among other things. We only need to look at the returns on super-safe fixed income investments to see the impact of Fed policy. Though we’ve had challenges on the income side, the Fed’s monetary policy has been a boon to stocks.

The Fed has also pledged to keep the Fed funds rate near zero for a considerable period in order to boost employment growth.

We now come to “slack,” a new term being bantered about. Slack is being debated by a number of economists as it relates to the job market. Fed Chief Janet Yellen is watching it closely and it has a direct bearing on interest rates. So what is “slack”?

An image may help: Picture how mountaineers connect themselves to a single rope to keep all of them more secure. At one end of this rope is a group of people who can and want to work, and have the skills needed. At the other end of the rope are jobs appropriate for those workers.

Ideally, there is just enough slack between the group of jobs and group of workers: not too much, not too little. Unfortunately, right now there are more qualified workers than there are jobs. The pace of adding jobs is not keeping up, which creates excess slack.


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That’s where the Fed’s low interest rate policy comes into play. Yellen wants the economy to expand fast enough to create the necessary jobs to reduce the excess slack. If low rates can stimulate economic activity by encouraging consumers and businesses to spend, it can fuel faster job growth without too much inflation (which is key).

Yellen and her cohorts at the Fed also look at wage and salary increases. And here is where it got a little tricky at the end of July. Two labor reports

According to the July Labor report:

Job growth has accelerated since the start of the year, with over 200,000 new jobs created in each of the last six months. That hasn’t happened since 1997.

Average hourly earnings was unchanged in July and is up a mere 2.0% from last year.

You’ll get no argument from most Americans that wage growth has been weak. And, per the Bureau of Labor and Statistics, the rate is showing no signs of accelerating. If that’s the case, we still have excess slack in the labor market and the Fed can patiently continue its low-rate policy.

On the other hand, a more comprehensive gauge of labor costs released just prior to the July employment data may suggest otherwise. The Employment Cost Index takes benefits into account and this index:

Jumped 0.7% in the second quarter, its biggest one-quarter rise since 2008.

It’s possible that robust increase is simply payback after the index’ anemic increase in the first quarter (0.3%). But worries about rising employee compensation seemed to be a good excuse to lop 317 points off the Dow on the last day of July. Why?

Because upward pressure on labor costs suggests dwindling slack. If that’s the case, price stability may be threatened, which may in turn fuel Fed rate hikes sooner and more quickly than expected. It’s the Street’s way of saying good news is bad news.

My Two Cents

Be careful about assigning too much importance to one data point. Look at trends instead. The current evidence does not suggest businesses are grappling with labor shortages and rising wage pressures. And, at this juncture, Fed Chief Yellen is in no hurry to boost interest rates. Late July’s Fed meeting produced no indication monetary officials are considering such a path.


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Looking Ahead

Geopolitical instability – I consider these questions:

Will a global hotspot materially affect the buying decisions of U.S. consumers and businesses? Will it affect U.S .exports and the earnings of multinationals? (The latter is of somewhat less importance.)

Conflict in Ukraine, downing of a Malaysian passenger plane, continued instability in Iraq, and fighting between Israel and Hamas are all newsworthy. However, such events rarely have a long-lasting impact on the U.S. economy and the markets.

Some worry that tougher European Union sanctions against Russia may hurt European companies, and Germany’s market reacted accordingly in July. This issue is worth keeping an eye on but our focus is on the longer-term and we believe this too shall pass.

The U.S. economy:

Given the Fed’s likely continued low-rate policy, investors clamoring for higher returns on CDs won’t see much change.

Job growth has accelerated markedly in recent months and the Gross Domestic Product rebounded nicely from the from the winter-induced contraction in the first quarter. (Up 6.0% before adjusting for inflation, 4.0% adjusted for inflation.) Both of which stand to support revenue and profit growth.

Remember When Roger Daltrey Asked, “Who are you?”

In this case, the question is, “Who are you as an investor?” Many find it easier to stay committed to their financial plan when the market is moving higher. It's the bumpy times that sometimes scare investors into unplanned actions. But these deviations usually create a need to backtrack, losing valuable time.

Sleepless nights generated by market turbulence are not for you! Your goal is to obtain a particular financial objective and I am here to advise and assist. As I do that, I take care that you do not take too much risk for your particular situation. A number of variables go into this evaluation. A balanced portfolio helps to manage that risk and keep you on track.

I hope you’ve found this July review to be both educational and helpful. As always, I’m honored and humbled that you have given me the opportunity to serve as your financial advisor. Please feel free to give me or any of my team members a call.

End of fully-edited example #2

Editing Example #3: Blog post using just one piece inspired by the template

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Fully-Edited Example #3: Blog Post For easy reference, here is the section from the edited Letter/Article: What is “slack”?

An image may help: Picture how mountaineers connect themselves to a single rope to keep all of them more secure. At one end of this rope is a group of people who can and want to work, and have the skills needed. At the other end of the rope are jobs appropriate for those workers. Ideally, there is just enough slack between the group of jobs and group of workers: not too much, not too little. Unfortunately, right now there are more qualified workers than there are jobs. The pace of adding jobs is not keeping up, which creates excess slack. That’s where the Fed’s low interest rate policy comes into play. Yellen wants the economy to expand fast enough to create the necessary jobs to reduce the excess slack. If low rates can stimulate economic activity by encouraging consumers and businesses to spend, it can fuel faster job growth without too much inflation (which is key).

Further-edited for the blog, using sans serif font and an appropriate image:

Got Slack? You may have read or heard mention of “slack” or “excess slack” in connection with jobs or the economy in general. So what exactly is slack? Well, considering it’s a term economists use there is no exact definition. (You’ve heard the joke about getting six different answers from two economists?) But an image or analogy may help:

Picture how mountaineers connect themselves to a single rope to keep all of them more secure. At one end of this rope is a group of people who can and want to work, and have the skills needed. At the other end of the rope are jobs appropriate for those workers. Ideally, there is just enough slack between the group of jobs and group of workers: not too much, not too little. Unfortunately, right now there are more qualified workers than there are jobs. The pace of adding jobs is not keeping up, which creates excess slack. The Fed and its Chief, Janet Yellen, pay close attention to slack. Yellen wants the economy to expand fast enough to create the necessary jobs to reduce the excess slack. If low Fed rates can stimulate economic activity by encouraging consumers and businesses to spend, it can fuel faster job growth without too much inflation.

End of fully-edited example #3 End of examples