How Can Advisors Become A Regular On Financial TV; What Each The Big Three TV Outlets Are Looking For

Tuesday, August 21, 2012 16:55
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How Can Advisors Become A Regular On Financial TV; What Each The Big Three TV Outlets Are Looking For

There are three main channels for financial television that reach the retail investing public: CNBC, Fox Business and Bloomberg.  Each has some conditions about its guests.  Here is a breakdown of what each station is looking for from an advisor and how you might approach becoming a guest:

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CNBC

  • Generally has stock pickers on who are willing to talk about three stock ideas as well as overall market commentary and items in the news that day.
  • They have a soft cutoff of guests having $500 million AUM to appear.  CNBC is willing, particularly during this month of August, to take guests that may not have the usual AUM if they have been in the print media on a topic in the news or can talk on special series they have.  For example, this month they covered the U.S. drought in-depth for a day and also the oil industry.
  • Most recently, they have also been asking for dates of birth and social security numbers for new guests that have not been on CNBC before.  They like to perform some due diligence before having a new guest.

 

Bloomberg

  • Bloomberg tends have a higher threshold of assets under management for its guests, usually $1 billion in AUM.  
  • They are looking for big shops and big names as guests.
  • They are totally news-driven and rarely will book guests out more than a couple of days unless the guest is a “name.”

 

Fox Business

  • Generally has stock pickers on willing to talk about 3 stock ideas as well as overall markets commentary and items in the news that day.
  • Also have a soft $500 million AUM requirement to be a guest.  There are exceptions if you have a timely or well selling book for instance.

 

Watch the shows and take note of guests and topics and news they cover. TV generally follows print stories. 

 

You can call the call the main number and ask for the guest booker for a particular show.  Once you are connected, you have about 15 seconds to pitch yourself --  your credentials, topics you can talk about and why it’s timely and relevant.

 

They will likely ask you to put this into an email to send it to them.

 

I'd strongly suggest having some media rehearsal and training prior to approaching the media in general and definitely prior to being on TV. 

 

Start with your local TV station first. For example News 12 on Long Island has some local financial coverage seen around the country.

 

Regardless of what your opinion is of financial TV, it does have a viewership in the hundreds of thousands and it does give a guest exposure through a credible platform. IT raises the stature of an advisor and promotes brand and company awareness.  It is a powerful medium that is deserving of your consideration and time to cultivate and master.

 

 

 

Comments (4)

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hilarymartincfp
Wow, good stuff. My firm may not meet the $500M cutoff any time soon (we're a boutique, not really trying to grow that big), but I would rather talk about non-market topics such as financial mindsets that affect your financial situation and the concerns of financial windfall recipients. It sounds like I need to target other TV outlets? As an advisor who subscribes to passive investing, I would never want to talk about individual stocks.
hilarym408 , August 23, 2012
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agluck
Good point, Hilary, about not wanting to talk about individual stocks. That's the stuff that TV wants! Stock tips! I wonder if there is room or interest on TV financial networks to cover wealth management the way real professionals advise. Buy and hold, broad diversification, and MPT does not sell papers or get eyeballs.

However, if a few advisors got behind a PR guy like Bill, they could perhaps make their case on some TV outlets. In other words, the way many A4A readers manage wealth for clients, as compared with the talking heads calling markets and giving stock tips on CNBC and Fox Business News, might actually be a good story.

I actually just wrote a story that will be posted on advisors websites that references Fritz Meyer's "scorecard" of top Wall Street strategists' calls in a December 2011 investment outlook story in Barron's in which which Wall Street's top strategists picked their favorite sectors and say which ones to avoid. Guess how they have done? Not well. In fact, Fritz's data on this goes back years and the same poor forecasting record can be seen annually for those who would check it.

Point is, that's a story that more advisors need to tell. Pointing out how the media is biased toward stock pickers and forecasters whose picks go unchecked but are usually wrong is a valuable story that some TV outlets might want to air.
agluck , August 23, 2012
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hilarymartincfp
I point out the biased media story ALL. THE. TIME. Even though some folks say it looks bad to talk bad, I truly think the public needs to know. Looking forward to the Fritz Meyer article, too bad your site is password protected and I can't link to it on my social media outlets!

PS. I promise you, I'll find a way to get on the TV! It might take a while, but stay tuned for my upcoming book! Thanks for the reply.
hilarymartincfp , August 23, 2012
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terryh770
During the 2008 crisis, I was fortunate to be a guest on CNBC a handful of times. We don't meet the AUM criteria described above.

The topic was generally "What are advisers telling Main Street investors now". I believe their slant at the time was that its easy for institutional managers to tell institutional client to hang tough. CNBC really wanted to know what we were advising people who's life savings and financial future were at risk.

It was great exposure and a lot of fun.
terryh770 , August 23, 2012

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