We’re so thrilled to welcome Amy Butell in tonight’s episode. She’s the founder of a fintech agency called Lake Effect Creative, in which she ghostwrites for a collection of financial advisors who are too busy to write their own books. Her company also provides editing and consultancy services, and as a result of her 20 years of experience, she’s launched her own books and teaches meditation in her spare time.
Wow! Let’s start from the beginning! Amy’s interest in the financial services began from being in an investment club in the late 90s. Talking to smart people in the industry and gaining knowledge from them fueled her the most. The curiosity and hunger to learn more drove her to obtain a degree in accounting at Mercyhurst University.
Her curiosity, love for research, and the rare ability to translate complex financial concepts into easy-to-understand and compelling ideas landed her ongoing gigs with clients from boutique wealth management, fintech startups, and Fortune 500 companies.
Some of Amy’s clients include The Journal of Finance, Wall Street Journal, Wealthfront, New York Society of Security Analysts, and more, all of who had previously struggled for years to distill what makes them different, in a book.
While there may be people who look down on the concept of ghostwriting, Amy explains that it provides more opportunities. She emphasizes that while some of her clients may possess the required writing skills for a book, they simply do not have time to write a book. She completely understands the work pressure the industry comes with; however, she truly believes that as the pace of life changes, one must share their story now. She aims to help her clients launch an informative yet articulate book with actionable takeaways. She firmly believes that by understanding and relating your experience, expertise, and passion to others, you set the stage for a more fulfilling business, career, and life.
Having said that, she stresses that strong communication is vital. And even thought she will execute the book, the client must dedicate time to share knowledge so that she can write as close as possible as her client’s voice.
As a result of her 20 years of experience, she’s launched her own books including e-books, and workbooks, in which she simplifies in steps the overwhelming processes of writing your own. Her book “Get Your Book Done in This Lifetime: The Financial Advisor’s Guide to Writing a Book” and workbook “The Start Your Book In A Weekend” are one of her most recognized works.
Amy’s emphasis on having a financial retirement plan stands out. As she says, ‘your kids can borrow for college, but you can’t borrow for retirement.’ She admits that her original motivation to enter the industry was to help women, especially those getting a divorce. Talking from experience, Amy understands the struggles to find a secure financial footing.
From our conversation with Amy, below are the top takeaways:
1. Your Book Is More Than A Marketing Tool
Amy explains that the true value in writing and selling a book is in building a healthy relationship with the client and not in the volumes being sold. Your book is not just a marketing tool, but it’s a legacy. It is indeed an investment that’ll pay dividends for decades, but in reality, it’s a monument to your life’s work.
2. Understand What You Owe
Many people owe mutual funds, investment accounts, financial plans etc. But do they really know all about it? Understanding what you owe will help you distinguish between good and bad financial advice and help you make savvy decisions.
3. There’s Space For Everyone
Amy explains that the financial industry is a big one and that there’s space for everyone. She encourages professionals not to be discouraged by the number of advisors out there. She advises that you do not need to compete with them. Instead, you just need to connect with people who need your services. And the best way to do that is in the form of content.
4. Just 10 Minutes a Day
When Amy isn’t writing, she teaches and practices meditation at Kadampa Meditation Center Washington, DC. She strongly recommends that meditation can transform your life in just 10 minutes a day. It has helped her stay grounded and make better decisions. She wishes everyone to experience the same benefits.