Five Must-Read Books for Savvy Financial Advisors

Five Must-Read Books for Savvy Financial Advisors


Our favorite books for Savvy Financial Advisors

By: Abby Salameh, Chief Marketing Officer
Published April 18, 2018

Now that tax day is over, many advisors can breathe a sigh of relief for another 12 months. While it still does not feel like spring in the northeast, we know the warmer weather is on its way. That, in turn, means the lazy days of summer won’t be too far behind. If your workload has become a bit lighter, perhaps you’ll have a little more free time to enjoy some guilty pleasures. Why not take advantage of the opportunity and pick up one of these must-read books for financial advisors?

After doing some polling from advisors in the Private Advisor Group home office in Morristown, NJ, and searching the web for some professional direction, I coupled my impromptu research with my own favorite picks and came up with the following list of books to keep you engaged and entertained in the months to come. So put up your feet, grab a glass of iced tea, and find a spot to enjoy the sunshine!

  1. Barbarians at the Gate
    This classic book, a #1 New York Times bestseller, still possesses its ability to capture readers. In 1989, Bryan Burrough and John Helyar wrote the definitive history of these financing types when they recounted the struggle involving the leveraged buyout of RJR Nabisco, a now-defunct food and cigarette conglomerate. The writers originally covered the story as reporters for the Wall Street Journal. A brilliant piece of investigative journalism, it’s pure entertainment culminating in a relevant lesson about greed.
  2. Freakonomics
    Are you interested in learning how the world really works? After seeing the author of this book speak at a conference, I decided I really was interested. This 2005 book by economist Steven D. Levitt and journalist Stephen Dubner, looks beneath the surface of various every day (and not so every day) situations and breaks down how things work. For instance, do you believe you’re getting the best deal if you’re a homeowner who hires a real-estate agent to sell your house? You might be surprised. The book also explores the economics of the worlds of drug dealing and Sumo wrestling, among a wide array of other topics. If you can’t get enough after reading the book, check out the Freakonomics podcast.
  3. Poor Charlie’s Almanac
    Charlie Munger is best known as Warren Buffet’s business partner in Berkshire Hathaway and those who are familiar with the billionaire’s past know him as the person who mentored Buffett in his younger days. Munger’s basic philosophy is preparation, discipline, patience, and decisiveness. This is a great book for financial advisors and obviously, there are many best practices and lessons to be learned from the 92-year-old billionaire.
  4. Emotional Intelligence
    As financial advisors, we tend to deal with psychology and emotional intelligence more than we realize. Financial decisions are deeply rooted in emotion, and the more we can understand this the better we can serve our clients and strengthen our relationships. Daniel Goleman’s writing will draw you in as he offers scientific insights into the power of mastering your emotions. Emotional intelligence is said to matter more than IQ, playing a significant role in overall success. Truly fascinating.
  5. The Devil’s Financial Dictionary by Jason Zweig
    A personal finance columnist for The Wall Street Journal, Jason Zweig is a witty and smart author known for his pioneering works on the neuroscience of investing. Zweig is a famous public speaker who addressed university audiences at Oxford, Harvard and Stanford, as well as the American Association of Individual Investors.

    His book, The Devil’s Financial Dictionary, is a quirky dictionary that pokes fun at the twisted reality of Wall Street. It’s a cynical yet humorous guide to help readers survive the hellish hostilities of the financial markets.

Do you have a favorite book that has impacted your journey as an advisor? We’d love to hear from you – comment on our social media outlets or send us a message.