Modern Financial Advisor

Why Asking The Right Questions About Your Client’s Values Often Leads to Higher Quality Financial Advice Jan 24, 2025

Jason Britton, CEO of Reflection Analytics joins Mike Langford to discuss the transformative power of values-based investing. They explore how financial advisors can help clients align their investment portfolios with their personal values, moving beyond traditional metrics of financial success. The conversation delves into the evolution of financial advice, the importance of understanding client values, and the challenges of navigating polarized discussions around investment choices. Jason emphasizes the need for genuine discovery in client conversations and the role of behavioral economics in understanding client motivations.

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Chapters

00:00 Introduction to Values-Based Investing

02:51 The Evolution of Financial Advice

09:22 Defining Values in Investing

15:11 The Importance of Discovery in Client Conversations

20:38 Navigating Polarization in Values Discussions

27:10 The Complexity of Values-Based Investing

29:02 The Pursuit of Consistency Over Perfection

30:53 The Role of Corporations in Society

32:42 The Myth of a Free Market

34:37 Subsidies and Public Good

36:33 The Value of Innovation and Risk

38:30 Wealth Creation and Shared Value

40:54 The Interdependence of Corporations and Society

42:47 Personal Values in Investment Decisions

44:40 The Future of Values-Based Investing

46:38 Engaging Clients in Financial Conversations

50:55 The Dual Nature of AI and Technology

Solving the Biggest Tech Problem in Wealth Management by Creating True Ownership of Your Firm’s Data Dec 13, 2024

Jud Mackrill, Co-Founder of Milemarker joins Mike Langford for a conversation about the challenges financial firms face regarding data ownership and integration. They discuss the concept of data lakes, the mission of Milemarker to empower financial advisors with better data control, and the evolution of technology in the financial services industry.

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

Orion - Jud Mackrill shares the story of being employee number 20 at Orion and how getting to work alongside the company's founder, Eric Clarke, shaped his career.
Skience - As part of Jud's recalling the origin story of Milemarker he reflects on meeting his co-founder Kyle Van Pelt when Kyle was still working at Skience.
Zapier - Mike mentioned how his sees some high-level parallels between what Milemarker is doing for wealth management firms and how Zapier has created the ability for businesses to connect a variety of other web services.
Holistiplan - Jud mentioned how Milemarker is working to make it easier for advisors to adopt solutions like Holistiplan, a tax planning softwares tool and
Wealth.com - An estate planning tool that benefits from deeper integration and ease of use with the advisor's existing workflow.
Stefan Ludlow - Jud mentioned Stefan and his role as the CTO at Cerity Partners as an example of what a CTO at a modern financial advisory firm hopes their job will look like versus what life is like for most tech leaders in wealth management.
The Connected Advisor - The Milemarker team are producing Podcast and Newsletter to connect with their prospects, clients, and the wider wealth management community. A side benefit is it helps them better articulate their thoughts about the space.

Chapters

00:00 Introduction to Data Ownership Challenges

02:28 Understanding Milemarker's Mission

04:25 The Concept of Data Lakes

08:08 The Origin Story of Milemarker

14:06 The Evolution of Technology in Financial Services

19:02 Practical Applications of Milemarker

22:50 Unlocking Insights with Technology

23:19 Working on Your Business vs. In Your Business

24:18 Challenges of Technology Adoption in Advisory Firms

25:15 The Role of Milemarker in Technology Implementation

29:07 The Importance of Data Quality for AI

32:23 Preparing for the AI Revolution in Advisory Firms

36:30 Core Building Blocks for RIAs in 2025

41:29 The Value of Content Creation for Advisors

How Financial Advisors Can Build Better Client Relationships by Leveraging Technology Nov 01, 2024

Patrick Spencer, Managing Director of Moneytree Software, joins Mike Langford to explore how financial advisors can enhance client relationships through technology. They discuss the evolution of Moneytree, the importance of goals-based planning and Monte Carlo simulations, and the critical role of communication in building trust with clients. The conversation emphasizes the need for advisors to understand their clients' objectives and to use technology to facilitate better engagement and decision-making.

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

Terry Black's BBQ - It's the best barbecue in Austin. You are welcome!
How To Grow Your Financial Advisory Business by Helping Business Owners Sell Theirs - Great episode on serving business owner clients.
Advisor - Client Communication Survey by YCharts - Patrick mentioned some insights surfaced in this survey during our discussion.

Chapters

00:00 Introduction and Personal Connections

04:29 The Evolution of Money Tree

10:20 Goals-Based Planning and Monte Carlo Simulations

18:24 Building Better Client Relationships

25:15 Conclusion and Future Directions

25:42 Client Engagement and Tools for Advisors

26:40 The Importance of Visual Communication

30:00 Scenario Planning in Financial Advisory

35:41 Understanding Client Scenarios and Life Changes

41:20 Generational Perspectives on Retirement

49:06 Business Ownership as an Asset

Strategies For Growing a Financial Advisory Business Without Adding New Clients Sep 19, 2024

Jon Randall of XFA.Coach joins Mike Langford for an innovative exploration of strategies for growing financial advisory businesses. The conversation delves into the unique approach of XFA, the common constraints faced by advisors, and the importance of client optimization and segmentation.

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

Most Advisors Are Not Growing Their Business - Here's Why That's A Problem and How To Fix It - Kieran Bol of PriceMetrix by McKinsey shares data that illustrates the lack of organic growth for financial advisory businesses.
How Financial Advisors Can Grow Beyond a Plateau - Jon Randall joined Aaron Hasler of SkyView Partners and Mike Langford for an episode of the Advisor Financing Forum podcast to explore strategies for growth at varies levels of business for financial advisors.

Chapters

00:00 Introduction to Financial Advisory Growth

02:14 Understanding XFA.Coach and Its Unique Approach

04:40 Common Constraints in Financial Advisory Growth

09:20 Revenue Tiers and Their Challenges

18:01 Client Optimization as a Growth Strategy

25:58 The Importance of Client Segmentation

36:23 Transitioning from Advisor to Coach

44:51 The Journey from Advisor to Performance Coach

A New Unified Managed Account Platform That Makes It Easy For Financial Advisors To Customize and Scale Sep 12, 2024

Katie Hendricks, Vice President and Director of Asset Allocation Research at Dimensional Fund Advisors, joins Mike Langford to discuss the firm's newly unveiled UMA platform, which provides access to personalized and tax-efficient investment solutions.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

Planning for Charitable Giving - Katie mentioned how UMAs are great tools for helping clients plan for charitable giving. Learn more about Donor Advised Funds on this episode with Adam Nash of Daffy.
Dimensional Fund Advisors UMA Platform - This landing page offers a tremendous amount of insights into the new DFA platform for UMAs.
The Trend Toward The Personalization of Investing At Scale - In this episode of the Augmented Advisor Podcast, Katie Hendrix and Shawn Jaberzadeh joined Mike Langford and John Prendergast, CEO of Blueleaf shortly after the launch of Dimensional's SMA solution.

Chapters

00:00 Introduction to the UMA Platform

14:17 Difference Between UMA and SMA

18:05 Development Process of the UMA Platform

30:06 Future of the UMA Offering

Why Financial Advisors Need a Cybersecurity Swat Team to Respond to The Inevitable Sep 05, 2024

Michael Cocanower, CEO of AdviserCyber, joins Mike Langford to discuss the importance of cybersecurity for financial advisory businesses. He highlights the increasing threats and the lack of internal resources for most RIAs to protect against cyber attacks.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients - Mykolas Rambus of Hush
SEC Reg S-D - Amendments "modernize and enhance the rules that govern the treatment of consumers’ nonpublic personal information by certain financial institutions."

Chapters

00:00 Introduction: The Importance of Cybersecurity for Financial Advisory Businesses

03:08 Understanding the New SEC Rules on Cybersecurity

09:07 The Four Pillars of Cybersecurity: Prevention, Detection, Mitigation, and Remediation

23:50 Common Types of Attacks and the Need for Cybersecurity Training

24:40 Enhancing Security with Multi-Factor Authentication

25:10 Introduction to Cybersecurity Threat Reports

27:01 The Human Element in Cybersecurity

29:41 Recognizing and Avoiding Phishing Attempts

34:16 The Importance of Communication and Verification

41:10 Shifting the Mindset: Assume Breach

46:41 Proactive Measures: Isolating Individual Computers

How An Innovative New Solution For Donor Advised Funds Is Helping Financial Advisors Build Deeper Relationships With Client Households Aug 29, 2024

Adam Nash, the co-founder and CEO of Daffy joins Mike Langford to explore the power of donor advised funds for creating opportunities for your clients and their families to make the kind of meaningful impact they want on the world.

Daffy, which is short for "Donor Advised Funds For You" is an innovative solution designed to make it easier for financial advisors and their clients to collaborate on plans for charitable giving.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients - Mykolas Rambus of Hush
Reimagining Estate Planning As Helping Clients Make Premade Decisions For Their Loved Ones - Andrew Crowell of D.A. Davidson
What Exactly Is Sustainable Investing? And Why Are Today's Clients Demanding It? - Peter Krull of Earth Equity Advisors

Chapters

00:00 Introduction to Donor Advised Funds and Charitable Giving

02:23 The Need for Innovation in Donor Advised Funds

05:41 The Importance of Setting Goals for Charitable Giving

11:20 The Lack of Innovation in the Donor Advised Fund Industry

15:26 Engaging Multiple Generations in Charitable Giving

19:12 The Universal Value of Giving

21:06 Using Technology to Make Giving Easier

22:32 Incorporating Charitable Giving into Financial Plans

22:45 Using DAFI Features with Clients: A Guide for Financial Advisors

26:22 Incorporating Charitable Giving into Financial Planning: Tips for Advisors

32:03 Tax Strategies and Charitable Giving: A Winning Conversation for Advisors

38:38 Collaboration and Surprising Benefits in the Donor Advised Fund Industry

How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients Aug 21, 2024

Mykolas Rambus, Co-Founder and CEO of Hush and Mike Langford discuss the scale of a high net worth client's digital footprint and the potential risks associated with it. They also talk about the creation of WealthX, a database of wealthy individuals, and how it led to the development of Hush, a tool that helps individuals protect their online privacy. The conversation covers topics such as cybersecurity, social engineering, and the risks posed by family members. The episode provides valuable insights and action items for financial advisors and their clients.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Related To This Episode:

Protecting Your Clients And Your Firm From Financial Fraud - Andrew Crowell of D.A. Davidson shared his perspective on protecting clients from financial fraud.
Wealth-X - Mykolas and Mike mentioned Wealth-X multiple times in this episode.

Chapters

00:00 Introduction

02:44 The Scale of a High Net Worth Client's Digital Footprint

04:36 The Creation of WealthX and the Development of Hush

08:22 Finding Information and Building Dossiers

11:14 The Need for Hush and Protecting Online Privacy

17:20 Cybersecurity and Awareness for Financial Advisors

21:55 Risks Posed by Family Members and Precautions to Take

25:03 Conclusion and the Importance of Online Privacy

26:03 The Growing Threat of Extortion and Sex Extortion

28:01 The Rise of Sim Swapping and the Importance of Cell Phone Security

31:20 Protecting Personal Information with Hush

45:19 Advisors and Hush: Enhancing Security for High Net Worth Individuals

Why Long-Term Care Insurance Should Likely Be A Part Of Every Client’s Financial Plan Aug 01, 2024

Larry Nisenson, Chief Commercial Officer at Assured Allies and Mike Langford discusses the need for financial advisors to have conversations about long-term care insurance with their clients. As Mike emphasizes in the episode's intro, the probability of clients needing long-term care is high, and the cost of securing long-term care is also high. Larry and Mike cover statistics on the need for long-term care, the challenges of discussing it with clients, and the importance of planning for long-term care in financial advice.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

"Is Your Home Ready to Age With You?" - Blog post on the Assured Allies with guidance on the steps your clients may need to take to ensure their house is ready to support their needs in the elder years.
Modern Financial Advisor Podcast episode featuring Jay Zigmont of Childfree Wealth.
goRIA with InvestmentNews - https://inpartners.investmentnews.com/goria/p/1
Zvi Bodie's website. He was my favorite professor at Boston University.
Agents.NeverStop.com - This is the site that Larry mentioned you should visit to learn more about Long-Term Care Insurance.

Chapters

00:00 The Need for Long-Term Care Insurance

03:45 The High Probability and Cost of Long-Term Care

09:22 Challenges of Discussing Long-Term Care with Clients

12:14 Including Long-Term Care Planning in Financial Advice

20:37 Building Relationships through Long-Term Care Conversations

26:06 Protecting Advisors from Potential Litigation

31:22 Planning for Long-Term Care

32:18 Aging in Place

40:29 Financial Tools for Long-Term Care Planning

49:00 Starting Early: Discussing Long-Term Care Options

52:25 Long-Term Care for Child-Free Clients

How To Grow Your Financial Advisory Business By Helping Business Owners Sell Theirs Jul 30, 2024

Tim Vorhoff, Vice President of CreoValo joins Mike Langford for an exploration of a growth strategy that many financial advisors are ignoring: helping private business owners sell their businesses to unlock their tied-up value. The conversation explores the opportunity for financial advisors to partner with investment banks to assist business owners in selling their companies. They discuss the scale of the opportunity, the average value of small businesses, and the importance of having conversations with business owner clients about their future plans for their businesses.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Chapters

00:00 Introduction: Unlocking Tied-Up Value

02:25 The Opportunity for Financial Advisors

04:21 Partnering with Financial Advisors

09:31 Understanding the Scale of Small Businesses

17:45 The Benefits of Organizing a Competitive Process

23:23 Having Conversations with Business Owner Clients

25:19 Maximizing the Outcome of Selling a Business

35:27 The Importance of Succession Planning

41:34 Building Trust as a Resource for Business Owners

Reimagining Estate Planning As Helping Clients Make Premade Decisions For Their Loved Ones Jul 23, 2024

Andrew Crowell, Vice Chairman of Wealth Management at D.A. Davidson returns to the show to explore a new perspective on estate planning: pre-making decisions for heirs and loved ones. Andrew and show host Mike Langford emphasize the importance of having conversations early and often to prevent emotional duress and ensure that family members are aware of the individual's wishes. They also discuss the significance of planning for digital assets, including passwords and online accounts. The conversation highlights the need for clear instructions on how to handle sentimental or private items after someone's passing.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

Why Financial Advisors Should Teach Financial Literacy - Andrew's first appearance on the Modern Financial Advisor podcast.
Protecting Your Clients And Your Firm From Financial Fraud - Andrew's second episode of the Modern Financial Advisor podcast.
"Life's Key Moments" - This is the D.A. Davidson resource Andrew mentioned toward the end of the episode.

Chapters

00:00 Introduction: Improving Sound Quality with PodBox

01:26 A New Perspective on Estate Planning

03:53 Pre-Making Decisions for Heirs

07:06 Avoiding Emotional Duress

09:44 Disposition of Sentimental Items

16:30 Planning for Digital Assets

23:27 Privacy Concerns and Personal Journals

28:12 Having a Partner to Dispose of Sensitive Items

29:09 The Importance of Conversations in Estate Planning

31:37 Challenges Faced by Individuals without Biological Heirs

34:27 The Concept of an Ethical Will

37:19 The Impact of Remarriage on Estate Planning

46:51 Senior Investor Protections and the Complexity of Digital Assets

53:13 The Role of Professional Advice in Estate Planning

One Man's Mission To Make It Easy For Financial Advisors To Go RIA Jul 09, 2024

Chuck Failla, Founder and CEO of Sovereign Financial Group returns to the Modern Financial Advisor Podcast to share some updates on the goRIA initiative he launched in partnership with InvestmentNews. Chuck also shares his journey of going RIA and the motivation behind creating goRIA as a media outlet to educate advisors about the benefits of the RIA space.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

Chuck Failla on LinkedIn - https://www.linkedin.com/in/charlesfailla/
Sovereign Financial Group - https://www.sovereignadvisorsolutions.com/
goRIA with InvestmentNews - https://inpartners.investmentnews.com/goria/p/1
Modern Financial Advisor Podcast EP75 - When Chuck was just getting RIA Labs off the ground - https://pod.co/modern-financial-advisor/episode-75-how-to-host-a-successful-online-event-as-a-financial-advisor
Modern Financial Advisor Podcast EP108 - With Gauthier Vincent of Deloitte where we discuss end-to-end digital transformation of wealth management - https://www.finservmarketing.com/modern-financial-advisor-podcast/exploring-the-end-to-end-digital-transformation-of-wealth-management
Jeff Benjamin on LinkedIn - https://www.linkedin.com/in/jeff-benjamin-9427728/
AngelSpan - https://angelspan.com/
Beautiful AI - https://www.beautiful.ai/presentations
Saifr - https://saifr.ai/

Chapters

00:00 Introduction and The Importance of a High-Quality Microphone Setup

03:27 Educating Advisors about the Benefits of the RIA Space

15:26 Networking and Learning at Conferences

19:07 Integration and Future-Proofing Technology in the RIA Industry

29:22 Choosing the Right RIA Firm

30:18 The Need for Better Training

32:44 Succession Planning and Ownership Transition

38:21 Expanding Services: Advising on Alternative Investments

52:32 The Role of AI in the RIA Industry

Why Financial Advisors Should Focus On Serving The Unique Needs Of Childfree Clients Jun 10, 2024

Dr. Jay Zigmont, Founder and CEO of Childfree Wealth joins Mike Langford for a fascination conversation about the intricacies of providing comprehensive financial advice to childfree clients. They discuss the significant population of adults who do not have children and the unique needs that are not being met by traditional financial planning methods. They also explore the reasons why people choose to be childfree and the challenges faced by financial advisors in serving this niche. The conversation covers topics such as dying with zero, long-term care planning, estate planning, retirement, and the importance of understanding the goals and desires of childfree clients.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

Jay Zigmont's Book - "The Childfree Guide to LIfe and Money"
The Fixed-Index Annuity with a Health-Activated Income Multiplier - This the annuity Jay mentioned during the show.
Long Term Care for Childfree Individuals - An article Jay wrote on the topic.
Fidelity Investments (FCAT) study on soloists - "A Family of One: The Ascendance of Solo Households"
Jay's guest article on Michael Kitces' blog - "Why Childfree People Require A Unique Financial Planning Process"
Rajini Kodialam - Mike mentioned how Rajini urged financial advisors to stop calling women a segment. "Any group that makes up over half of the population cannot be a segment."

Chapters

00:00 Introduction to Child-Free Financial Advice

03:45 The Size and Significance of the Child-Free Population

08:07 Understanding the Choice to Be Child-Free

13:25 Dying with Zero: A Different Approach to Financial Planning

15:23 The Life of Child Wealth: Redefining Retirement

27:43 Addressing the Unique Needs of Child-Free Individuals

36:44 Creating Communities and Support Networks

46:25 Challenges and Biases Faced by Child-Free Individuals

53:48 Opportunities for Financial Advisors in the Child-Free Market

Exploring The End-To-End Digital Transformation Of Wealth Management Jun 04, 2024

Gauthier Vincent (GV), Senior Consulting Partner at Deloitte joins Mike Langford for an exploration of the digital transformation taking place in the wealth management industry. The conversation explores the impact of AI on wealth management, covering topics such as personalizing client experiences, efficiency, data infrastructure, compliance, and the modernization of core wealth platforms. It also delves into the challenges and considerations for wealth management firms in adopting AI and modernizing their tech stack.

Sponsored By:

PodBox - Help your guest sound as good at GV with a PodBox microphone setup.

Resources Mentioned In This Episode:

Deloitte Report - "The Digital Wealth Manager Of Today"
SkyView 1 - A fiduciary first banking solution for your financial advisory clients.
Nitrogen (formerly Riskalyze) - The comprehensive client engagement platform for wealth management firms

Chapters

00:00 The Digital Transformation in Wealth Management

11:49 The Urgency for Modernization and Impact of AI

27:17 The Impact of AI on Wealth Management

41:24 Challenges and Considerations in Adopting AI for Wealth Management Firms

49:52 Modernizing the Tech Stack in Wealth Management

How To Improve Your Financial Advisory Business One Week At A Time May 24, 2024

Brian Margolis from Productivity Giant joins Mike Langford to discuss the importance of a simple weekly strategy for financial advisors to improve their productivity and achieve their goals. Brian emphasizes the need to focus on the right things and prioritize activities that provide the biggest return on investment.

Resources Mentioned In This Episode:

Brian's previous episode of the Modern Financial Advisor Podcast way back in 2019.
Brian's Book - "The Index Card Business Plan For Sales Pros and Entrepreneurs"

Chapters

00:00 Introduction and Background

04:24 The Importance of a Simple Weekly Strategy

09:07 Focusing on the Right Things for Maximum ROI

28:57 Common Pain Points and Symptoms

31:20 Differentiating Between Being Good and Being Successful

39:05 Success Stories and Implementing the Simple Weekly Strategy

45:10 Conclusion

How Financial Advisors Can Use Proxy Voting As A Service To Level Up May 17, 2024

Simon Zais, a senior manager at Egan-Jones Proxy Services, joins Mike Langford on the Modern Financial Advisor Podcast to discuss the importance of "proxy voting as a service" for financial advisors. They explore how proxy voting can help advisors deliver a higher level of service to their clients and align their portfolios with their clients' values and goals.

Resources Mentioned In This Episode:

MFA Episode featuring Pete Krull of Earthy Equity Advisors
Engine No. 1 vs Exxon - Simon mentioned this case as an example of proxy voting driving change at a company.
Simon's article titled "Hearts, Minds, and Votes: Where Smarter Wealth Managers Win"

Chapters

00:00 Introduction: Proxy Voting as a Service

06:03 Aligning Portfolios with Values and Goals

10:22 Proxy Voting and Making an Impact

23:04 The Growing Influence of Retail Votes

23:34 The Growing Influence of Retail Investors in Proxy Voting

26:01 Aligning Proxy Voting with Client Values and Goals

28:18 The Importance of Meaningful Conversations with Clients

31:38 Taking Action on Proxy Voting to Deepen Client Relationships

What Exactly Is Sustainable Investing? And Why Are Today's Clients Demanding It? May 10, 2024

In this episode of the Modern Financial Advisor podcast, Mike Langford interviews Pete Krull, CEO of Earth Equity Advisors, about sustainable investing. They discuss the importance of sustainable investing for financial advisors and their clients, debunk common myths about sustainable investing, and explore the growth opportunities in the field.

Pete and Mike also touch on the role of ESG metrics, the future of the insurance industry in the face of climate change, and the increasing demand for sustainable investing among different generations.

Resources Mentioned In This Episode:

Earth Equity Advisors
Pete Krull on LinkedIn
Cross Country Race in EV Pickup Trucks - Out of Spec YouTube and Out of Spec Podcast
Green Sage Sustainability Portfolio
Morgan Stanley Sustainable Signals Report
Dollars and Change Podcast and YouTube Channel
Book - Cradle to Cradle
DEI Episode of The Modern Financial Advisor Podcast with Laura Gregg

Chapters

00:00 The Role of Sustainable Investing for Financial Advisors

03:47 Debunking Myths About Sustainable Investing

12:23 The Future of the Insurance Industry in the Face of Climate Change

25:01 The Increasing Demand for Sustainable Investing Among Different Generations

29:16 Engaging with Clients and Prospects on Sustainable Investing

30:10 Meeting the Needs of Next Gen Investors

32:07 The Growth of Electric Vehicles and Charging Infrastructure

35:19 The Role of Real Estate in Sustainable Investing

43:30 Considering Climate Readiness in Retirement Planning

51:18 Connecting with Influencers in Sustainable Investing

Why Financial Advisors Should Provide Simple Financial Health Metrics To Their Clients May 01, 2024

Reese Harper, CEO of Elements, joins Mike Langford to discuss how financial advisors can use vital signs to improve client conversations and increase their comfort level around financial advice.

Reese explains that vital signs are objective scores that measure various aspects of a client's financial health, such as liquidity, debt-to-income ratio, and savings rate. By using vital signs, advisors can provide personalized advice and help clients make informed decisions about their finances.

Resources Mentioned In This Episode:

Elementality Podcast - With Reese Harper and Carl Richards
Dentist Advisors - This is Reese's RIA which influenced his founding of Elements

Chapters

00:00 Introduction and Overview

02:56 The Concept of Vital Signs

10:05 Improving Financial Behaviors with Vital Signs

28:31 Using Vital Signs in a Niche Market

35:23 The Birth of Elements and the Importance of Vital Signs

41:06 Accelerating Client Onboarding with Elements

How Advisors Can Tap the Hidden Growth Potential in Their Clients’ Communities Mar 27, 2024

What if you could expand your client roster by 300% without having to spend a fortune on marketing? This week's guest Beatriz Acevedo and her team at SUMA Wealth discovered a hidden growth gem by serving the Latinx community.

It turns out, people in the community tend to bring other clients with them. And as you'll hear Beatriz discuss with Mike Langford, this growth concept is present in many communities.

Resources Mentioned In This Episode:

How I Built This - Beatriz was a guest on HIBT Lab! with Guy Raz in which she shared more about her journey that led her to starting SUMA Wealth.
Is Your Credit Guacaready? - This is a great example of the culturally relevant marketing that the SUMA Wealth team is using to build a community of over a million people.

Chapters

00:00 Introduction and Background

03:23 Summa Wealth's Community-First Approach

06:09 The Aha Moment for Summa Wealth

10:18 Understanding the Target Audience

13:40 Learning from Mistakes and Adjusting

22:01 Adapting to Changing Consumer Behavior

25:22 Learning from Younger Generations

26:10 The Value of Different Perspectives

27:06 The Importance of Embracing Change and Learning from Younger Generations

29:03 Transition from TV Producer to FinTech Founder

31:16 Recognizing the Lack of Financial Education in Latino Communities

33:01 The Role of Culture and Community in Fintech

36:00 The Power of Life Experience in Decision-Making

37:26 The Opportunity of Connecting with Younger Generations

43:25 Attracting Non-Latinx Users to Summa Wealth

48:39 Future Plans for Summa Wealth

Cracking The Code On Organic Growth For Financial Advisors Mar 01, 2024

The lack of robust organic growth for financial advisors' businesses has been a key concern for industry leaders for years. On this episode of the podcast Tom Rieman, CEO and Founding Partner of PracticeI ntel shares what he believes is the key to cracking the code on organic growth for financial advisors.

Resources Mentioned In This Episode:

Bridging The Gap Podcast - Tom joined Matt Reiner on this podcast recently and we hit on one of the points from that episode to tip off our conversation.
Data from PriceMetrix by McKinsey - Mike mentioned the study and an MFA Podcast episode with Kieran Bol.
The Augmented Advisor Podcast - James Lee, the former President of the FPA discussed his conviction that "Financial Planner" is the 4th Great Profession.
Fidelity Investments 2023 RIA Benchmarking Study
SkyView Partners - Their focus on organic growth as a key driver for business valuation.

Appreciating How Modern The Profession Of Financial Advisor Actually Is Feb 12, 2024

There are financial advisors working today who are members of the first generation of people to ever call themselves financial advisors. Think about that!

On this episode of the show, Matt Reiner returns to nerd out with Mike Langford about some of the exciting innovations that are creating new opportunities for modern financial advisors.

Resources Mentioned In This Episode:

The Circle - Matt and his team have created a vibrant community to share actionable strategies, weekly, to enhance your life, elevate your business and enrich your client experience.
"Your Future Self" by Hal Hershfield - Matt recommended this book in the context of understanding our decision making process.
Harry Markowitz - The father of modern portfolio theory passed away in 2023. The guy who created the foundation for the models that financial advisors use for managing their clients' assets only recently passed away!
When Ideas Have Sex - A TED Talk by Matt Ridley that inspired a fun conversation in this episode.

Protecting Your Clients And Your Firm From Financial Fraud Dec 02, 2023

Andrew Crowell, Vice Chairman of Wealth Management at D.A. Davidson returns to the show to share some eye popping facts about the prevalence of financial fraud. Andrew and Mike Langford also explore what financial advisors can do to protect their clients for becoming victims of fraud and how to help clients recover if they are victimized.

Toward the end of the episode Andrew and Mike dive into the mechanisms financial advisors can use to protect their firm from fraudsters. Because like the famous bank robber Willie Sutton said when asked why he robs banks, financial advisors are "where the money is."

Resources Mentioned In This Episode:

Americans Are Not Adequately Prepared To Detect Or Prevent Financial Fraud - Scroll down about 3/4 of the way down on this page to see the results of the fraud study.
Fraud Prevention: A Guide for Senior Investors - This is a helpful guide created by the team at D.A. Davidson
Willy Sutton Rule - https://www.investopedia.com/terms/w/willie-sutton-rule.asp

How Financial Advisors Can Boost Business Development Nov 17, 2023

Dr. Jean Oursler "The Results Queen" explains how our caveman brains often get in the way of our ability to develop our businesses to the fullest. However, simple changes to a financial advisor's approach to his or her business development process can lead to dramatic improvements in a short time.

Dr. Jean also shares some personal stories about her journey. She credits investing in herself early, even before her business was achieving real traction, as key lever for her success.

Resources Mentioned In This Episode:

Caveman Brain - Dr. Jean's company specializes in helping financial advisors get better results in their business development.
6 Killer Questions - As Dr. Jean mentioned, this free resource outlines the key questions to ask a "potential client" through your funnel.
EOS (The Entrepreneurial Operating System) - A framework for clarifying, simplifying, and achieving your vision.
"Change Your Question, Change Your Life" by Marilee Adams - Dr. Jean recommended this book as a fantastic tool to learn how to ask better questions.

Why Every Financial Advisor Needs An Executive Assistant Oct 27, 2023

It may sound hyperbolic but the reality is the advisor who tries to do everything his or herself... is bound to let some important things fall off the table. And as Gina Cotner, CEO of Athena Executive Services explains... it's not just simple "To Do" list items that an advisor might miss.

It could be important client updates or opportunities that lead to business growth.

How Financial Advisors Can Help Clients Manage The Gap Between What They Think Is Happening And What Is Actually Happening Oct 19, 2023

James Beam, President of TD Private Client Wealth breaks down a common challenge that clients of today's financial advisors face... information overload that often results in clients having a distorted picture of what is actually happening in the world.

Jim and Mike also explore the potential impact of artificial intelligence (AI) on the modern financial advisor's business and how the use of a goals based advice approach can serve as a foundation for advisors regardless of what future technologies may come their way.

Want To Offer Better Financial Advice To Your Clients? Start With Checklists And Flowcharts Oct 13, 2023

Michael Lecours, CFP® says that the origin story of fpPathfinder, a company he co-founded with Michael Kitces, is a bit humbling. He found that he was routinely forgetting to ask the right questions or giving slightly incorrect answers or missing timely opportunities for recommendations when meeting with his clients.

It wasn't that Michael was incompetent or lacking in financial planning skills... he is a Certified Financial Planner with over a decade of experience. It's just that there is so many things that a client might need to know about or do or not do at any given time. And the landscape is constantly changing.

So, Michael came up with a simple idea. He made a series of checklists and flowcharts that he would use during client meeting to ensure he "checked all the boxes" and kept things on track. Suddenly, he felt like he was delivering higher quality advice to his clients and he realized he was onto something that other advisors could use with their clients.

Resources Mentioned In This Episode:

Advice Engagement Strategies: 4 Core Areas To Motivate Clients To Be More Active In The Financial Planning Process - This is a comprehensive blog post written by Michael Lecours and offers some great insight to the thought processes driving the fpPathfinder solution.
Roger Pine and his company Holistiplan were mentioned a few times on this episode. Below are links to two podcasts featuring Roger:
How to Increase Post-Acquisition Business Value by Adding Tax Planning Services on The Advisor Financial Forum Podcast by SkyView Partners
Roger Pine of Holistiplan on Speeding Up the Tax Planning Process for Financial Advisors on The SoFin Podcast.

Why Writing A Short Book Can Help Financial Advisors Win New Clients Sep 22, 2023

Paul McManus, creator of The Short Book Formula and CEO of More Clients More Fun shares how he helps financial advisors write short books to attract their ideal clients.

The concept is simple, write a short book that articulates the solution to a specific problem your ideal client is likely to have. Send the book to prospects. Ask them to read it prior to meeting with you. Then, have a productive initial meeting that is likely to result in closing a new client.

Unlocking The Hidden AUM Opportunity That Can Transform Your Client's Financial Future May 25, 2023

Lucas Siegel, CEO of Harbor Life Settlements joins Mike Langford to share how financial advisors can help their clients unlock assets that are lying dormant and unproductive in their life insurance policy. Lucas also shares the simple question to ask your client about their life insurance policy to help them make the best financial decision for their future.

How Financial Advisors Can Tap Into The Last Segment Of The Household Balance Sheet May 08, 2023

David Wieland, CEO of Realized shares how financial advisors can tap into a $6 trillion market segment by adding investment property wealth management.

How Financial Advisors Can Reduce Paperwork And Supercharge Their Productivity Apr 27, 2023

Ryan George, Chief Marketing Officer of Docupace joins Mike Langford to share how new digital document technologies are allowing financial advisors to automate the repapering process for transitions, improve productivity, and increase the speed of the new client onboarding process.

How Leaning Into Your Strengths As A Financial Advisor Can Unlock Hidden Business Potential Apr 04, 2023

Danielle White, CEO of Myriad Advisor Solutions joins Mike Langford to explore how RIAs can focus on leaning on their strengths by leveraging the capabilities of skilled outsourced providers.

Why Helping Clients Better Understand Risk Is A Powerful Growth Strategy For Financial Advisors Mar 16, 2023

Aaron Klein, CEO of Riskalyze shares how financial advisors can grow their business... in terms of winning new clients, increasing share of wallet, and reducing client attrition by getting better at helping clients understand risk. It all boils down to clients having more confidence and comfort in their financial journey.

What Financial Advisors Can Learn By Studying Client Behaviors And Preferences Mar 09, 2023

Mark Gochnour, Head of Global Client Services at Dimensional Fund Advisors explores some of the discoveries he and his team have made about client preferences and behaviors via DFA's most recent "Global Investor Study".

Mark also shares some interesting insights on what successful firms are doing to help their younger financial advisors develop their presence with HNW clients.

Marketing Trends Financial Advisors Are Using To Grow Their Businesses Feb 02, 2023

Kevin Darlington, the General Manager and Head of Broadridge Advisor Solutions joins Mike Langford for a deep dive on advisor marketing trends.

Kevin and his team at Broadridge recently released their 4th annual report on advisor marketing trends and there is a ton of fascinating insights for us to cover... whether you are looking to aggressively grow your business or you want to continue to run it as a thriving lifestyle business.. this is a great episode for you.

Using Outsourced Tax Preparation Services To Grow Your Financial Advisory Business Dec 19, 2022

Brian Nuttall and Rick Wilkens from Elevate CPA Group return to the show for a fascinating conversation that fits right into a trend that seems to a frequent topic as of late.

The team at Elevate is rolling out a new Tax Prep As A Services solution for the clients of independent financial advisors and RIAs. As Mike Langford explains, these value-add services are expanding the possibilities for client relationships and open the door for increased share of wallet.

How Financial Advisors Are Increasing The Scalability Of Their Businesses With Outsourcing Dec 07, 2022

Laura Gregg, Senior Vice President and Director of Practice Management & Advisor Research at FlexShares ETFs shares the findings from her team's latest study titled "The Race to Scalability 2022 - Current Insights from 12 years of Advisor Research on Investment Management Trends”

Of particular interest is the adoption of outsourced solutions by independent financial advisors and RIAs and how outsourcing is helping to drive scalability.

How Coaching Principles Can Help Advisors Achieve More Nov 09, 2022

Matt Spielman, Founder and Head Coach at Inflection Point Partners shares how financial advisors can leverage coaching principles in their business to achieve more in their careers and personal lives while also providing higher quality service to their clients.

Advisor Financing For Partial Sales and Succession Planning Oct 19, 2022

Greg Prokott and Samatha Angell, Managing Partners at Advisor Financing LLC make the case for why financial advisors should consider a partial sale of their business to ensure the continuity of their firm. Greg and Sam also offered a detailed roadmap for securing financing to facilitate M&A deals and internal success plans.

Solving The Three Biggest Problems Facing Financial Advisors Oct 07, 2022

Julie Pinkerton, CEO of ClientFirst by Evozen sat down with Mike Langford to explore how "community" can solve three of the biggest problems facing financial advisors today.

How To Secure Financing For Your RIA Or Multi-Advisor Wealth Management Firm May 27, 2022

Jeff Conyer, CEO of Wealth Advisor Financing joins Mike Langford for an expansive conversation about how financial advisors and RIA firms can secure the financing they need for M&A deals and succession.

How Financial Advisors Can Grow Beyond Being Accidental Business Owners Apr 29, 2022

Robert Russo, CEO of Independent Advisor Alliance joins Mike Langford for an in-depth conversation about how financial advisors can navigate the transition from "accidental business owners" to owners of high-performing wealth management firms.

Why Helping Clients Build Wealth Is Smart Business For Financial Advisors Apr 11, 2022

Calvin Williams Jr, CEO of Freeman Capital shares why he sees massive opportunity in serving overlooked financial consumer segments who need help building wealth.

Serving Women Investors Better Is A Recipe For Growth For Financial Advisors Mar 31, 2022

Lacy Garcia, Founder and CEO of Willow sheds some light on the tremendous opportunities available to financial advisors who learn to serve women investors better. With 70% of widows changing advisors after the death of a spouse and 80% of divorcees changing advisors after their marriage ends... there's a case to be made for learning to better serve women investors is a defensive strategy as well.

What Younger Investors Expect Of Their Financial Advisors Mar 17, 2022

Natalie Wolfsen, CEO of AssetMark shares some key insights into the expectations millennial and Gen Z investors have of their financial advisors. She also offers some key strategies for advisors to scale their business and provide a more modern service experience by leveraging outsourced solutions.

How RIAs Can Avoid A High RON By Investing In A Few Cybersecurity Basics Mar 09, 2022

David Kakish, CEO of RIA WorkSpace says that financial advisors often like to ask about the ROI of investing in cybersecurity solutions... that's the wrong question. They should be asking what's the RON (Return On Negligence) of not investing in cybersecurity.

On this episode, David shares some simple tips that RIAs and independent financial advisors can use to boost their firm's cybersecurity to better protect their clients and their business. David and Mike Langford also share a few other suggestions for upping your tech stack on a budget.

Helping Advisors Thrive At Work, At Home, and In Their Community Feb 23, 2022

Kyle Simpson, Head of Field Strategy at FS Investments joins Jeremi Karnell and Mike Langford to explore the benefits of investing in programs designed to help financial advisors thrive in all areas of their lives. The key takeaway? A well-rounded and balanced professional is more likely to avoid the pitfalls that keep many advisors from reaching their full potential.

How To Host A Successful Online Event As A Financial Advisor Feb 14, 2022

Chuck Failla, CEO of Sovereign Financial Group shares how what was supposed to be a small online event that he was going to host for 20 to 30 folks grew to a large national event with premier speakers from the wealth management industry. Now, he's co-hosting the RIA Labs with InvestmentNews.

How Financial Advisors Can Grow Their Business by Serving Entrepreneurs In Transition Feb 02, 2022

Laurie Barkman, CEO of Small Dot Big makes the case for why financial advisors should focus on serving entrepreneurs and business owners who are selling or retiring. Laurie and Mike Langford also explore how financial advisors can attract entrepreneurs and business owners who are on the cusp of a transition.

BTW: Much of this conversation is also relevant and helpful for RIAs and independent financial advisors who are considering their own transition.

Financial Advisors Can Finally Embrace Client Testimonials Jan 24, 2022

Brian Thorp from Wealthtender explains how financial advisors can embrace client testimonials and endorsements from referral partners, friends, and their wider network thanks to new recent SEC rule changes. Brian and Mike Langford also discuss how financial advisors can level up their online presence by focusing on solution-based and client-specific content marketing.

How Financial Advisors Can Grow Their Business To Over $1 Billion In AUM In 10 Years Dec 17, 2021

Gil Baumgarten as a solo advisor grew his business from $200 million AUM to over $1.2 billion AUM in only 10 years. His firm, Segment Wealth Management has only 9 employees serving 210 households and operates as an "extraordinarily simple business."

Scaling Your Financial Advisory Firm Amid Industry Consolidation Nov 24, 2021

Pepper Anderson, President and CEO of Chilton Trust shares her insights on how modern financial advisory firms can scale in the face of a rapidly changing business environment.

Most Advisors Are Not Growing Their Business - Here's Why That's a Problem Nov 18, 2021

Kieran Bol, Head of Platform Operations at PriceMetrix by McKinsey joins Mike Langford for a deep dive into "The State of The North American Retail Wealth Management" market. Specifically, Kieran and Mike examine the lack of real growth for individual financial advisors. Why are so many advisors not adding new clients or new assets?

How To Ensure Your Wealth Management Firm is "Sale Ready" Oct 21, 2021

If you wanted to sell your RIA or independent financial advisory business to an internal successor or a third party would you be able to? Josh Patrick, Founding Principal at Stage 2 Planning Partners and author of "Sale Ready Company" shares what you need to do to make your firm sale ready even if you have no plans to sell.

Using Compassion As A Tool For Business Growth and Stability Oct 08, 2021

Land Bridgers, CEO of Integrated Financial Group (IFG) shares how the use of compassion has become a core cultural strength for his firm when it comes to recruiting new financial advisors and clients. Additionally, because compassion is a fundamental ethos across all advisory teams at "The Brain Trust", as IFG is affectionately known, there is a tremendous amount of cultural glue with the relationships between advisors, staff, and their clients. This has created a lot of stability for the business.

Transitioning a Financial Advisory Business for Continued Growth Sep 27, 2021

Bill Trigleth, Executive Director of Certifications at Cannon Financial Institute offers an actionable roadmap for transitioning a financial advisory business from one that relies on product sales and AUM to a modern firm that serves clients more holistically.

How Diversity, Equity, and Inclusion Add Value to a Modern Financial Advisory Business Sep 10, 2021

Laura Gregg, Senior Vice President, and Director of Practice Management & Advisor Research at Northern Trust’s FlexShares ETFs joins Mike Langford to share some powerful results from a new survey the firm conducted on diversity, equity, and inclusion.

How Truelytics and Consultants Work Together Sep 02, 2021

The ecosystem of consultants and professional services providers who work with RIAs and independent financial advisors is extensive. Yet, most providers lack the ability to evaluate the value and performance of a modern financial advisory firm.

In this episode of The Modern Financial Advisor podcast, Owen Dahl, Head of Professional Services at Truelytics and the original architect of the company's software, shares his insights and vision for how consultants and practice management professionals can best serve advisors by leveraging the Truelytics platform.

Why Financial Advisors Should Teach Financial Literacy Jul 30, 2021

Andrew Crowell, Vice Chairman of Wealth Management at D.A. Davidson & Co. shares why financial advisors should actively participate in educating their community on the concepts of financial literacy.

How to Increase the Value of a Financial Advisory Business with Tax Planning Services Jul 23, 2021

Most financial advisors do not offer tax planning and strategy services to their clients. Why? Well, according to Steven Jarvis, CEO of Retirement Tax Services the answer is simple. Most advisors aren't CPAs and they lack the skills "in-house" to deliver tax planning services. But now it's possible for advisors to use a firm like Retirement Tax Services to offer more value to their clients.

How to Build a Niche-Focused Financial Advisory Business that Scales Jun 30, 2021

Nick Cantrell, CEO of Green Future Wealth Management shares how he founded a rapidly growing financial advisory firm that focuses on serving clients who value ESG investing.

Navigating Transitions with Jeff Hamaoui of Modern Elder Academy Jun 10, 2021

Jeff Hamaoui, Co-founder, Chief Education & Innovation Officer of Modern Elder Academy joins Jeremi Karnell, CEO of Truelytics, and Mike Langford for a fascinating and fun conversation about navigating life transitions.

Why some RIA Firm Purchases Fail and Others Flourish May 27, 2021

Brian Nuttall, Joe DeMarco, and Rick Wilkens of Elevate CPA Group return to the show to join Mike Langford for an exploration of what an RIA or independent financial advisor can do to ensure they succeed when buying another RIA firm or book of business.

How to Grow Your Financial Advisory Firm by Acquiring Other Advisors' Books of Business May 08, 2021

Scott Danner, CEO of Freedom Street Partners has acquired many financial advisor's books of business over the years to build a large wealth management firm. In this episode of the show, Scott shares his process for identifying and completing acquisitions as well as the personal growth journey he has undertaken as the firm has grown.

Leveraging Data and Platform-Based Solutions for Financial Advisor Growth Apr 26, 2021

Ian Karnell, Chief Revenue Officer of Truelytics joins Mike Langford to share a fresh perspective on the opportunity for wealth management firms, RIAs, and independent financial advisors to navigate business transitions and achieve new levels of growth through the use of data and platform-based solutions.

How RIAs Can Acquire A Practice With Greater Speed and Less Cost Apr 05, 2021

Allen Darby, CEO of Alaris Acquisitions shares how his team of buyer advisors helps RIAs and independent financial advisors acquire high-quality practices with greater speed and less expense than other options available.

Helping Your Clients Prepare for Estate Executor Duties Mar 12, 2021

Financial advisors often help their clients with estate planning. But few help their clients prepare for the duties of becoming the executor of an estate. It's a weighty responsibility.

Dan Stickel of EstateExec joins Mike Langford to share how their solution can help advisors ensure their clients are ready when the time comes to manage a loved one's estate.

The Value of Financial Planning and Exit Coaching for Financial Advisors Mar 01, 2021

It may sound odd but, many financial advisors have never sat down with a financial planner to make sure they are on track to achieve their long-term goals. Brookly Brock of Ellevate Advisors shares how she and her team are helping RIAs and independent financial advisors with their financial plans and helping them navigate their business exits.

Using Virtual Events and Digital Marketing to Help Financial Advisors Grow Feb 05, 2021

Kevin Darlington of Broadridge Advisor Solutions and Jeremiah Desmarais of Advisorist share how their Virtual Advisor Summit is helping financial advisors learn how to grow their businesses with modern digital marketing strategies and techniques.

How to Leverage a CPA Firm to Grow Your RIA Business Jan 26, 2021

Brian Nuttall, Joe DeMarco, and Rick Wilkens of Elevate CPA Group join Mike Langford to share how their firm, which specializes in serving RIAs, helps a business achieve higher levels of growth.

How to Rapidly Grow a New Financial Advisory Business Nov 11, 2020

Sten Morgan, author of "7 Mindsets of Success" joined Mike Langford to share how he grew his financial advisory business from zero to top-performer status in less than 5 years. The goal is to help firms improve their ability to recruit and develop financial advisors for the next generation.

How Financial Advisors Can Learn From Startups to Create a Better Client Experience Oct 27, 2020

John Prendergast, CEO of Blueleaf joins Mike Langford to explore the origin story of the company and share how financial advisors can learn from the lean startup process to create better client experiences.

Why Protecting Financial Advisors’ Businesses is Good Business for Broker Dealers May 01, 2020

Dan Mayes, SVP of Succession Planning and Business Acquisition at Cetera Financial Group joins Mike Langford for a conversation about how one of the world's largest independent broker-dealers is helping their advisors protect their business. The firm's innovative Legacy Builder Progam and Advisor Resiliency Pack are two programs helping advisors through a challenging time and protecting the long-term value of their business.

The Value of Benchmarking for RIAs and Independent Financial Advisors Apr 24, 2020

Catherine Williams, VP and Head of Practice Management at Dimensional Fund Advisors (DFA) and Tom Orecchio, CEO of Modera Wealth Management join Terry Mullen, CEO of Truelytics for a conversation on the value of benchmarking for RIAs and independent financial advisors.

The conversation is moderated by Mike Langford.

Episode 54 - Jeremi Karnell and Scott Wetzel on Financial Advisor Transition Trends Feb 23, 2021

Jeremi Karnell, CEO of Truelytics, and Scott Wetzel, CEO of SkyView Partners join Mike Langford for an expansive conversation on what the next decade holds for advisor transitions. This episode was originally shared with the audience of the Virtual Financial Advisor Conference hosted by Broadridge Advisor Solutions and Advisorist

Episode 51 - The Power of Personalized Content for Winning New Clients Jan 05, 2021

Nate Isaacson of Grapevine6 (Now Seismic | LiveSocial) joins Mike Langford to share how financial advisors can use personalized content to attract new clients on social media.

Episode 50 - Transitioning and Transforming a Wealth Management Firm Dec 18, 2020

Max Winthrop, CEO of Winthrop Wealth Management joins Mike Langford to share how he and his brother worked with their father and uncle to transition the business to the next generation and then transform the firm into a modern financial advisory business.

Episode 49 - Exploring The Zen Of Business Acquisitions Dec 08, 2020

Tom Hine, CEO of Capital Wealth Management and author of "The Zen of Business Acquisitions" joins Mike Langford for an expansive conversation on how financial advisors should approach acquiring a business. Tom and Mike also explore some of the ins and outs of writing a book and recording an audiobook.

Episode 46 - Tony Stich of Advicent NaviPlan on the Evolution and Future of Financial Planning Oct 15, 2020

Tony Stich, COO of Advicent NaviPlan joins Mike Langford for an expansive conversation about the evolution and future of financial planning. Tony and Mike also explore how technology will be employed to allow financial advisors to serve clients at scale during the coming wave of advisor transition.

Episode 45 - How Financial Advisors and RIAs Can Use Storytelling in the M&A Process Sep 08, 2020

George MacAllister, of The Next Level Solution, shares how financial advisors and RIAs can use storytelling techniques to increase their success rate when trying to acquire another advisor's book of business or acquire an RIA firm. The use of stories is also valuable in the sales process for clients according to George and he shares several examples and strategies that you can implement in your business.

Episode 44 - How Financial Advisors and RIAs Can Increase Profitability by Using a Digital Assistant Aug 26, 2020

Matt Reiner of Benjamin, a digital virtual assistant powered by artificial intelligence joins Mike Langford to explore how automating repetitive tasks can save time and free advisors up to serve their clients better.

Episode 43 - The Future of the OSJ Model for Independent Financial Advisors with Jason Gallagher Aug 14, 2020

Jason Gallagher of ViewPointe Strategies Group and Terry Mullen, CEO of Truelytics join Mike Langford for a deep-dive exploration of the current state and future of the OSJ model for independent financial advisors and the broker-dealer ecosystem.

Episode 42 - Leadership During Our New "Work From Home" Reality with Tammy Robbins Aug 05, 2020

Tammy Robbins, Vice President of Business Development at ProEquities shares how she and her team rapidly adjusted to the new reality of working from home while also helping the firm's clients, a distributed population of independent financial advisors who rely on them for support, make the adjustment as well.

Episode 41 - How RIAs Can Make Big Gains By Thinking Small with Shauna Mace Jul 24, 2020

Shauna Mace, a consultant and coach who help RIAs achieve higher levels of growth shares how focusing on small, incremental process improvements often leads to the biggest gains.

Episode 40 - Using AI to Create Custom Portfolios That Are As Easy As Model Portfolios Jul 17, 2020

Runik Mehrotra and Samir Vasavada, Founders of Vise join Mike Langford to share how financial advisors can deliver custom portfolios to their clients without spending countless hours selecting stocks and tinkering with asset allocations. Instead, Vise uses artificial intelligence to do the heavy lifting. As a result, advisors can have custom portfolios that fit each client's specific needs with the ease of implementation that is usually only reserved for model portfolios.

Episode 39 - How RIAs Can Dramatically Improve Their Performance Jul 13, 2020

Terry Mullen, CEO of Truelytics explains how RIAs can dramatically improve their performance by focusing on four key areas of their business.

Episode 38 - The Importance of a Target Market for RIAs and Smaller Broker Dealers Jun 19, 2020

Why is it that we encourage individual financial advisors to focus on niche markets but RIA firms and smaller broker-dealers still roll with the mass market approach? The benefits of target marketing are available at the firm level as well. In this episode, Mike Langford explores how you can transform your business by focusing on a target market for your advisors and the clients they serve.

Episode 37 - How to Become Your Own Wealthiest Client with Dan Cuprill of Advisor Architect Jun 01, 2020

Dan Cuprill of Advisor Architect and host of The Profitable Advisor Podcast joins Mike Langford for an exploration of how financial advisors can become their own wealthiest clients by focusing on improving the profitability of their business.

Episode 36 - How The Pandemic Might Affect Valuations For Financial Advisory Business Sales May 18, 2020

Owen Dahl, of the Dahl Consulting Group, joins Terry Mullen, CEO of Truelytics, and Mike Langford for a conversation about how the COVID-19 pandemic might affect valuations, deal structure, and the volume of M&A deals for financial advisors.

Episode 35 - What Wealth Management Firms Can Learn From Auto Racing Teams May 13, 2020

There are a lot of parallels between high-performing wealth management firms with top-performing advisors and the top teams and their drivers in auto racing. In this episode, Mike Langford explores what broker-dealers and RIAs can do to emulate the elite teams in Formula 1, Nascar, NHRA, and World Endurance Championship racing to produce advisors that outperform their peers.

Episode 32 - Eli Gassert On Rapid Technology Solution Development for Wealth Management Apr 17, 2020

Eli Gassert, Chief Technology Officer of Truelytics shares his vision and approach for the rapid development of new technology solutions for a fast-changing wealth management industry. In a space where it is commonly expected to have technologies take years to develop and deploy, Eli explains how it is possible to shrink that time down to a matter of weeks.

Episode 31 - How Financial Advisors and RIAs Can Benefit From the CARES Act Apr 01, 2020

The Coronavirus Aid, Relief and Economic Security (CARES) Act has opened up the opportunity for independent financial advisors, RIAs, and other wealth management firms to access emergency capital as a mechanism to cushion their businesses during this time of economic crisis. Mike Langford is joined by Scott Wetzel of SkyView Partners to take an initial look at the details with an effort to help the Truelytics community get started exploring the programs for their businesses.

Episode 30 - How to Demonstrate Leadership and Calm Fears During a Time of Crisis Mar 22, 2020

Financial advisors and their clients are likely feeling a lot of anxiety in the face of the COVID-19 pandemic and its impact on the economy and society. As a wealth management leader or individual financial advisor, you have an important role to play as a leader. In this podcast, Mike Langford shares some action steps you can take to project leadership and a sense of calm during this time of crisis.

Episode 29 - How Succession Planning Helped Advisors Grow Their Business Mar 03, 2020

Brad Bergdahl and Brennen Bergdahl of Premier Wealth Management Group sit down with Mike Langford to share how the succession planning process transformed their business. Not only did it secure Brad's legacy but it also set in motion a future for Brennen and the other members of the team. This, in turn, has allowed them to focus on growth.

Episode 28 - Recruiting and Retaining Financial Advisors with Terry Mullen of Truelytics Feb 03, 2020

Terry Mullen, CEO and Co-Founder of Truelytics joins Mike Langford to explore the urgent need to improve the financial advisor recruiting process.

Episode 27 - New Business Financing Options Available To Financial Advisors and RIAs Dec 31, 2019

As the pace of advisor transitions and mergers & acquisitions for RIAs picks up in the new decade, the need for financing options to facilitate these moves will increase. In this episode of the Modern Financial Advisor podcast, Mike Langford is joined by Scott Wetzel of SkyView Partners to explore the new range of financing options that are available to advisors.

Episode 26 - Recruiting Financial Advisors is a Game of Motivational Awareness Dec 21, 2019

Recruiting financial advisors to your broker-dealer or RIA firm requires an in-depth understanding of what drives the advisor on an emotional level. Changing firms is a big, risky move for an advisor's business and few enter into that decision lightly.

In this episode of the Modern Financial Advisor podcast, Mike Langford is joined by recruiting expert Matthew Bassuk to explore the history of recruiting in the wealth management industry and look at where things are headed.

Episode 25 - How to get clients as a financial advisor by looking beyond the 1% Nov 20, 2019

In a recent study by CNBC and Acorns, it was revealed that 99% of Americans are NOT working with a financial advisor. That means that nearly everyone you come in contact with is likely in need of your services.

In this episode of the Modern Financial Advisor podcast, Mike Langford explains why now is the best time to start targeting the 99% and he shares a few strategies for how to find clients.

Episode 24 - How Zero Dollar Trade Commissions Affect Financial Advisors Nov 05, 2019

Justin Paterno, COO of Stocktwits and the newly launched zero-commission brokerage TradeApp, joins Mike Langford to explore the potential impact of the industry's move to zero trade commission on financial advisors. During this episode, Mike and Justin also talk about why social media and building an online brand is important for the modern financial advisor.

Episode 23 - How financial advisors can use their websites to convert prospects to clients Oct 23, 2019

Shanna Tingom of Heritage Financial Strategies joins Mike Langford for an exploration of how she and her team are using their website to win new clients at a 66% higher rate than other channels. It turns out these new clients are much more profitable as well.

Shanna also shares how she is leveraging Truelytics to facilitate the acquisition of another advisor's practice.

Episode 22 - What holds many advisors and agents back from growing their practice into a business? Sep 27, 2019

Big news! Truelytics won the Allianz Field Advisory FinTech Pitchfest on September 18, 2019.

Also, we are going to be changing the name of the Valuations Podcast to something a little broader in meaning. If you have suggestions, please send them to mike@truelytics.com

On the show this week, Mike Langford is joined by Jeff Concepcion of Stratos Wealth Partners. Jeff shares his insights into what limits many individual financial advisors and insurance agents as they try to grow their practices into larger businesses.

The conversation starts with martial arts and flipping burgers and ends with a discussion about Mike doing karaoke on Jeff's podcast.

Episode 21 - Make Your Wealth Management Business Easy to Work With and Work For Sep 11, 2019

In this episode, Mike Langford draws your attention to the one undeniable trend that is changing the wealth management and insurance industries as well as every other business in the world. That trend? Making business easier for clients and for employees.

Your competitors are constantly looking to remove friction and make it easier to do business with them. They are also exploring ways to make it easier for their advisors and agents to be productive. In this episode, Mike will shares some ideas of how you can make your business easier to work with... for everyone.

Episode 20 - How to Close Clients Faster with Technology Aug 26, 2019

Mike Langford is joined by Andy Ambrose, co-founder & President of Liveoak Technologies to explore how the use of compliant and secure video conferencing coupled with digital signatures and identity verification is transforming the speed of business for wealth management and other financial services firms. Imagine how much better your business would be if you could completely eliminate the need for client paperwork and the constraint of meeting in person for transactional tasks? Liveoak Technologies is making that world possible.

Episode 19 - How to Attract Millennial Advisors to Your Wealth Management Firm Aug 15, 2019

In this episode, Mike Langford dives into the three crucial elements of attracting millennials to your wealth management or insurance business. The key is recognizing and embracing the life-shaping experiences of this generation of talent and empowering them to help you grow the business for the future.

Episode 18 - Why Details Matter for your Wealth Management or Insurance Business Aug 01, 2019

In this episode, Mike Langford shares a story of how he noticed exceptional attention to detail during his recent family vacation to Walt Disney World and how it reminded him how important details are to the valuation of a wealth management or insurance business.

Episode 17 - Valuation: Getting Beyond a Reasonable Doubt Jul 23, 2019

Mike Langford shares a story of how his recent experience of serving as a juror in a criminal case illuminated the importance of helping a buyer get beyond a reasonable doubt for the valuation and acquisition of a wealth management or insurance business.

Episode 16 - Considering the Strategic Value in a Wealth Management Business Acquisition Jul 14, 2019

Mike Langford (flying solo on this episode) explores the strategic value of acquiring another wealth management or insurance business. While it is crucial to base the valuation of a firm on its cash flow, it is also important to remember that the newly acquired business will bring a lot of opportunity above an beyond the immediate cash flow add.

Episode 15 - Kirsten Petras on the acquisition activity increase in wealth management Jun 10, 2019

Kirsten Petras of Oak Street Funding joins Mike Langford to explore the rapid increase in acquisition activity in the wealth management industry. As the great wave of transitions heats up for RIAs and independent financial advisors, firms with the right financing in place are aggressively scaling up their businesses by acquiring the businesses of retiring advisors.

Episode 14 - Kelli Cruz on the importance of talent wealth for successful business transitions May 28, 2019

Mike Langford is joined by Kelli Cruz of Cruz Consulting Group to explore how wealth management businesses (RIAs, broker-dealers, and individual financial advisors) can increase the value of their firms and the success rate for their transition (either by acquisition or internal succession planning) by focusing on the talent within their organizations.

Episode 13 - Victor Gaxiola of Tech Girl Financial on using social media to increase your valuation Apr 04, 2019

Victor Gaxiola, Head of Marketing for Tech Girl Financial, joins Mike Langford to explore how he and his team are using social media as well as video and podcasts to grow their business. In this episode you will hear how partnering with a forward-thinking broker-dealer made all the difference and why Victor believes that acquiring an audience is key to increasing the value of your wealth management business.

Episode 12 - Brian Margolis of Productivity Giant on Growing Your Business by Simplifying It Mar 14, 2019

Brian Margolis, founder of Productivity Giant and author of "The Index Card Business Plan" joins Mike Langford for a refreshingly new look at how to grow your wealth management business or individual financial practice.

Episode 11 - Ivan Barretto of RIA Compliance Concepts on using compliance for a strategic edge Feb 20, 2019

Ivan Barretto of RIA Compliance Concepts joins Mike Langford to explore how compliance can be used as a strategic edge by wealth management firms and individual financial advisors.

Episode 10 - Jamie Wise of Buzz Indexes on using sentiment analysis and AI to beat the S&P 500 Jan 30, 2019

Jamie Wise, CEO of Buzz Indexes, joins Mike Langford to explore how the use of sentiment analysis and powerful artificial intelligence (AI) tools have allowed Buzz to create a new stock index that continuously outperforms the S&P 500.

Episode 9 Grant Hicks of Advisor Practice Management on Increasing Client Value Jan 18, 2019

Grant Hicks of Advisor Practice Management and author of "Guerrilla Marketing For Financial Advisors" joins Mike Langford and Carla McCabe of Truelytics to explore the most important practice management themes for 2019.

Episode 8 - Henry Yoshida of Rocket Dollar on the value of alternative investments in IRAs Jan 03, 2019

Henry Yoshida, founder of Rocket Dollar, joins Mike Langford to discuss the value of providing clients with an easy mechanism for investing in alternative investments within tax-advantaged accounts such as IRAs and Roth IRAs.

Episode 7 - Jeremi Karnell on digital transformation and blockchain Dec 10, 2018

Jeremi Karnell, CMO and Chief Product Officer of Truelytics joins Mike Langford to discuss the importance of digital transformation and how blockchain may be leveraged inside of Truelytics.

Episode 6 - James Hughes of Live Oak Bank on acquisition financing for wealth management firms Nov 14, 2018

James Hughes of Live Oak Bank joins Mike Langford to discuss how wealth management firms and individual financial advisors can use debt financing to acquire a business or use it to facilitate the sale of a business. Also, in this episode, we explore whether it is a seller's market or a buyer's market. Who is really in control?

Episode 5 - Jim DeCarlo of StratWealth on the importance of culture for wealth management firms Nov 06, 2018

Jim DeCarlo, CEO of StratWealth joins Mike Langford to explore the role company culture plays in the success of today's wealth management firm. Happy employees make happy clients!

Episode 4 - Special Guest Shane Morrow of IronBridge Wealth Counsel Oct 26, 2018

Shane Morrow, Managing Partner and Director of Investments at IronBridge Wealth Counsel joins Mike Langford to explore the modern wealth management firm and what's in store for the future of the industry.

Episode 3 - What makes a wealth management firm valuable? Jeff Miller of Truelytics Oct 10, 2018

Jeff Miller, President and COO of Truelytics joins Mike Langford to explore the ins and outs of business valuation for wealth management firms and individual financial advisors. Jeff also discusses his vision for the future of the wealth management industry. Hint... he doesn't see the robots taking over anytime soon.

Episode 2 - Practice Management with Carla McCabe of Truelytics Sep 24, 2018

Carla McCabe, Director of Practice Management at Truelytics joins Mike Langford to dive in on topics ranging from the valuation of OSJs to the future of the wealth management industry. Carla also draws a parallel between training for American Ninja Warrior and building a valuable financial business. Lots of great stuff! Listen up!

Episode 1 - The Truelytics Origin Story with Terry Mullen Sep 16, 2018

Terry Mullen, CEO and Founder of Truelytics joins Mike Langford to discuss the origin story of the company and explore why wealth management firms and financial advisors need to take valuation and succession planning seriously.

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