As a writer who often works with financial advisors, the question I hear most frequently is, “Do I need a ghostwriter for my book?” The short answer is: not necessarily. Whether you need professional writing help depends entirely on your personal resources and abilities.
Before hiring anyone, you should assess yourself honestly on five key points:
- Do you genuinely have the time to dedicate to a massive writing project?
- Would you actually enjoy the process of writing for months?
- Do you have a natural talent or aptitude for clear, engaging writing?
- Can you maintain the necessary discipline to stick to a schedule and produce pages consistently?
- Are you prepared to handle all the required research yourself?
If you can confidently answer “yes” to all five questions, I usually advise financial advisors to tackle the book themselves. You’ll still need a solid outline, firm deadlines, and strict self-discipline, but you should try it.
However, if you realize you can’t manage those steps, and the book is essential for your business, then bringing in a ghostwriter is the right move. Here’s a guide on how to find one and what the process entails. Still confused if you need a ghostwriter? Read this
How a Ghostwriter Can Streamline Your Book
Depending on the complexity of your topic, a ghostwriter can either fully execute the project or work collaboratively with you.
- Full Execution: You can hand over the entire project, including all research and writing responsibilities.
- Collaboration: You can provide the writer with your existing notes, research papers, periodicals, and other source material.
Regardless of the approach, the key is communication. You’ll have regular interviews where the writer can record your conversations and take detailed notes on the topic, effectively drawing the book out of your head. The writer then produces draft chapters for you to review, edit, or make suggestions on. The working relationship is highly flexible and should be tailored to what is most convenient for your schedule and budget.
Finding the Right Financial Writer
It is always best to work with a writer who has a financial background or specialized experience writing about complex financial topics. Our industry is filled with talented financial writers who work as freelancers for trade publications or industry associations.
Where to look:
- Trade Publications: Check the masthead or website of industry publications for names of regular contributing writers.
- Local Media: Look for financial or business writers who maintain regular columns in your local newspaper.
- Networking: Ask your colleagues for personal recommendations.
- Existing Books: Look at other successful financial books; sometimes a ghostwriter or collaborator will be credited as: “By John Smith with Bob Jones.”
- Writer Guilds: Contact professional writers’ associations for referrals.
- Budget Option: If your budget is tight, consider a sharp communications or creative writing student from a local college who can handle research well (though they won’t have the industry expertise).
The ideal scenario is finding an experienced financial writer who already has book-writing and publishing experience. This person can offer invaluable consulting on navigating the business side, including whether you need a book agent, your various publishing options, and key marketing strategies.
Understanding the Cost
The cost of hiring a ghostwriter is highly negotiable and depends on several variables. These typically include the required page/word count, the complexity and extent of the research needed, the time commitment, and whether the fee includes additional services like editing, proofreading, consulting, or PR/marketing support.
For a 250-page book, experienced financial writers often charge anywhere from $20,000 to $75,000 or more, depending on the responsibilities required. A writer may charge by the word, by the project, or (less frequently) by the hour. If your book is accepted by a mainstream publisher, you might negotiate a lower fee with your ghostwriter if the publisher pays the writer an advance and/or if you agree to share the royalties.
Ready to bring your story to life? Let a professional ghostwriter turn your vision into a captivating book. Contact us today to get started!