Strategies For Growing a Financial Advisory Business Without Adding New Clients

Modern Financial Advisor

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Young and Profiting with Hala Taha (Entrepreneurship, Sales, Marketing)

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Dave Ramsey: 5 Stages to Build and Scale a Business That Lasts | Entrepreneurship | E344 1:03:38

26 days ago1:03:38

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Too many entrepreneurs get stuck on the business treadmill, hustling nonstop, unable to scale, and unknowingly stalling their growth. That’s where Dave Ramsey began. After crashing into $3 million in debt, he rebuilt from scratch, turning a small radio program into a national show with millions of listeners. With over three decades of experience in entrepreneurship, business growth, and content creation, he knows what it takes to build a lasting business. In this episode, Dave reveals the six drivers of long-term success, the five key stages of startup growth, and how he balances life as an entrepreneur and a content creator. In this episode, Hala and Dave will discuss: (00:00) Introduction (00:23) The Core Principles of Financial Freedom (05:42) Adapting to Change as a Content Creator (09:22) Balancing Content Creation and Entrepreneurship (12:34) How to Create a Clear Path in Business (15:19) The Truth About Starting a Business Today (18:22) The Six Drivers of Business Success (26:20) Shifting From Tactical to Strategic Thinking (29:44) The Five Stages of Business Growth (41:10) Leading with Care, Clarity, and Accountability (47:10) Identifying the Right Leadership Skills (48:35) Starting a Media Business as an Entrepreneur Dave Ramsey is a personal finance expert, radio personality, bestselling author, and the founder and CEO of Ramsey Solutions. Over the past three decades, he has built a legacy of helping millions achieve financial freedom. As the host of The Ramsey Show , Dave reaches more than 18 million listeners each week. He is the author of eight national bestselling books. His latest, Build a Business You Love , helps entrepreneurs navigate growth and overcome challenges at every stage. Sponsored By: Shopify - Sign up for a one-dollar-per-month trial period at youngandprofiting.co/shopify OpenPhone: Streamline and scale your customer communications with OpenPhone. Get 20% off your first 6 months at openphone.com/profiting Airbnb - Find yourself a co-host at airbnb.com/host Indeed - Get a $75 sponsored job credit at indeed.com/profiting RobinHood - Receive your 3% boost on annual IRA contributions, sign up at robinhood.com/gold Factor - Get 50% off your first box plus free shipping at factormeals.com/factorpodcast Rakuten - Save while shopping at rakuten.com Microsoft Teams - Stop paying for tools. Get everything you need, for free at aka.ms/profiting LinkedIn Marketing Solutions - Get a $100 credit on your next campaign at linkedin.com/profiting Resources Mentioned: Dave’s Book, Build a Business You Love: bit.ly/BuildaBusinessYouLove Dave’s Website: ramseysolutions.com Active Deals - youngandprofiting.com/deals Key YAP Links Reviews - ratethispodcast.com/yap Youtube - youtube.com/c/YoungandProfiting LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ Social + Podcast Services: yapmedia.com Transcripts - youngandprofiting.com/episodes-new Entrepreneurship, Entrepreneurship Podcast, Business, Business Podcast, Self Improvement, Self-Improvement, Personal Development, Starting a Business, Strategy, Investing, Sales, Selling, Psychology, Productivity, Entrepreneurs, AI, Artificial Intelligence, Technology, Marketing, Negotiation, Money, Finance, Side Hustle, Mental Health, Career, Leadership, Mindset, Health, Growth Mindset, Side Hustle, Passive Income, Online Business, Solopreneur, Networking.…

about a year ago 51:23

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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

127 episod

#Tech #Trading #Business #Financial Advisors #MBA #Entrepreneur #Marketing #finservMarketing

Strategies For Growing a Financial Advisory Business Without Adding New Clients

Modern Financial Advisor

published about a year ago

Kongsi

MP3•Laman utama episod

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

127 episod

#Tech #Trading #Business #Financial Advisors #MBA #Entrepreneur #Marketing #finservMarketing

Semua episod

Modern Financial Advisor

1
Is It Time for Financial Advisors to Rethink Their Assumptions About Asset Allocation Models? 45:02

1 day ago45:02

45:02

In this episode of the Modern Financial Advisor Podcast, host Mike Langford is joined by Arnim Holzer , Global Macro Strategist at Easterly EAB , for an insightful discussion on market volatility and the need to rethink traditional asset allocation models. They explore the historical context of Modern Portfolio Theory, its simplifications, and why its assumptions may not hold in today's economic environment. The conversation delves into the instability of asset correlations during periods of volatility, the impact of macroeconomic conditions, and the importance of incorporating volatility-sensitive strategies into portfolios. Advisors can benefit from practical advice on how to use high Sortino ratio funds and strategies to manage downside risks and enhance client portfolio resilience. The episode also touches upon the relevance of active versus passive management, the implications of the global pandemic on markets, and the importance of client perception of portfolio performance. Chapters 00:00 Introduction and Episode Overview 01:10 Guest Introduction: Arnim Holzer 01:24 Casual Conversation: Weekend Plans 02:21 Diving into Market Volatility 03:01 Challenging Traditional Asset Allocation Models 05:22 Flaws in Modern Portfolio Theory 06:27 Correlation and Volatility in Asset Allocation 16:06 Impact of Fed Policy on Market Correlations 24:00 Impact of the Pandemic on Inflation 24:55 Housing Market Dynamics During the Pandemic 26:13 The Fed's Response and Fixed Income Challenges 27:00 Volatility and Portfolio Management 28:36 Advisors' Role in Managing Volatility 31:25 Optimizing Portfolios with High Sortino Ratios 36:46 The Importance of Risk Management 42:40 Connecting with Arnim Holzer 44:20 Conclusion and Farewell…

Modern Financial Advisor

1
What If Financial Advisors Have Been Using the Wrong Methodology for Retirement Planning? 51:44

8 days ago51:44

51:44

In this episode of the Modern Financial Advisor Podcast, Steve Vecchione and Scott Schuebel of Statera Advisors and Statera Retirement join Mike Langford to share their innovative approach to retirement planning. After watching or listening to this conversation, it might be hard for financial advisors not to wonder “Have I been using the wrong methodology for retirement planning all these years?” Chapters 00:00 Introduction and Episode Overview 01:19 Meet the Guests: Steve Vecchione and Scott Schuebel 02:03 The Origin Story: How Steve and Scott Joined Forces 02:55 Challenging Conventional Retirement Planning 04:42 Developing a New Retirement Strategy 12:48 Addressing Retirement Risks 18:24 The Importance of Internal Rate of Return 26:14 Understanding Internal Rate of Return (IRR) 26:41 Time-Weighted Rate of Return (TWR) Explained 27:26 Comparing TWR and IRR in Portfolio Management 28:56 Impact of Market Conditions on Returns 30:20 Strategies for Retirement Planning 40:37 Purpose-Driven Dollar Concept 46:06 Balancing Risks for Optimal Returns 49:30 Conclusion and Final Thoughts…

Modern Financial Advisor

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Why RIAs and Independent Financial Advisors Who Add Banking Services are Poised for Rapid Growth 37:15

17 days ago37:15

37:15

In this episode of the Modern Financial Advisor Podcast, host Mike Langford chats with Terry Mullen , Chief Revenue Officer of Fispoke , about how financial advisors can now offer comprehensive banking services to their clients. Once exclusive to wirehouse advisors, these services are now accessible to RIAs and independent financial advisors, thanks to new technology and banking arrangements. Mike and Terry discuss the evolution of financial advice, the immense market potential, and the transformative power of integrating banking solutions for financial advisory businesses. Learn about how Fispoke is bridging this gap, the opportunities for growth, and the future of comprehensive financial planning. Don't miss out on this insightful conversation that could change the way you offer 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: How Financial Advisors Can Help Clients Navigate The Black Box of Healthcare Costs - Mike mentioned the parallels between the work that Drew Schockley and the team at Move Health are doing for financial advisors and their clients on the health insurance landscape. Like banking, every client is going to have health care needs. As a financial advisor, you should be offering sound advice on areas like these that affect your clients’ financial lives in significant ways. Episode 1 - The Truelytics Origin Story with Terry Mullen - As Mike mentioned in this episode, Terry Mullen was the first ever guest on the podcast back when it was actually called The Valuations Podcast. Jump in the time machine and give it a listen. Chapters 00:00 Introduction and Episode Overview 01:26 Guest Introduction: Terry Mullen 01:36 The Evolution of Financial Advisory Services 02:52 The Next Wave: Comprehensive Banking Services 03:38 Identifying the Problem and Market Opportunity 05:28 Fispoke's Integrated Banking Solutions 10:45 Growth Opportunities for Financial Advisors 17:17 Future Prospects and Closing Thoughts 19:09 The Impact of Healthcare on Job Mobility 19:50 Breakaway Advisors and Wirehouse Firms 20:53 Fispoke's Integration with Independent Broker-Dealers 21:45 The Role of Technology in Financial Advisory 23:45 The Future of Banking Advisors 28:48 Fispoke's Banking Partnerships 29:50 Technology Integration with Advisor's Tech Stack 32:55 The Benefits of Smaller Banks 34:09 Conclusion and Contact Information…

Modern Financial Advisor

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The Evolving Role of a Financial Advisor in an AI-Driven World 52:52

4 weeks ago52:52

52:52

In this episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Dr. Emily Koochel , Manager of Financial Wellness at eMoney Advisor , to explore the critical role of the human advisor in an increasingly AI-powered world. They discuss how AI can be used as a tool to enhance efficiency, personalize client experiences, and maintain trust, rather than replacing human advisors. With compelling data and practical insights, this episode aims to help financial advisors feel more confident in integrating AI into their practices. Chapters 00:00 Introduction and Guest Welcome 00:12 The Human Element in Financial Advice 00:59 Podcast Subscription and Contact Information 01:29 Conversation with Dr. Emily Koochel Begins 01:45 Weekend Plans and Personal Anecdotes 02:23 AI's Impact on Financial Advisory 02:54 Dr. Koochel's Unique Qualifications 05:20 Understanding Financial Therapy 08:54 Financial Socialization and Childhood Influences 11:32 AI in Financial Planning: Opportunities and Concerns 17:25 The Importance of Human Connection 20:16 Generational Perspectives on Financial Advice 23:10 Emotional Conversations in Financial Planning 26:36 Practical AI Integration for Advisors 27:35 Exploring AI Integration in Financial Services 27:57 Identifying and Automating Manual Processes 28:47 Prioritizing High Impact, Low Risk AI Solutions 29:28 Familiarizing with AI Technologies 34:29 Personalization at Scale with AI 41:32 Building and Maintaining Trust in Client Relationships 51:52 Conclusion and Final Thoughts…

Modern Financial Advisor

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Why the Timing is Right for Financial Advisors to Embrace Managing Digital Assets for Their Clients 47:53

6 weeks ago47:53

47:53

Jake Claver , of Digital Ascension Group joins Mike Langford for an exploration of the growing importance of digital assets in wealth management. They discuss the concept of 'digital lottery winners'—clients who have gained significant wealth through cryptocurrencies—and the necessity for financial advisors to adapt to this new landscape. Jake also dispels a few common myths that financial advisors may have about who is investing in crypto and digital assets. The conversation also touches on the risks associated with holding digital assets and the future of regulation in the crypto space. The conversation highlights the opportunities for financial advisors to engage clients in discussions about digital assets, the potential impact of regulation on the market, and predictions for the future of transactions in a digital economy. Chapters 00:00 Introduction to Digital Assets and Wealth Management 03:01 Understanding Digital Ascension Group's Services 07:59 The Rise of Digital Lottery Winners 09:23 The Importance of Advisors in the Crypto Space 15:32 Institutional Custody Explained 22:10 The Risks of Holding Digital Assets 24:37 Understanding Institutional Custody in Crypto 25:57 The Profile of Digital Lottery Winners 28:00 The Role of Financial Advisors in Crypto 30:29 Opportunities for Financial Advisors 32:27 Engaging Clients with New Asset Classes 34:15 The Future of Financial Products on Blockchain 36:29 The Impact of Regulation on Crypto 40:28 Market Predictions and Economic Insights 45:19 The Future of Transactions in a Digital Economy…

Modern Financial Advisor

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How Financial Advisors Can Help Clients Navigate The Black Box of Healthcare Costs 56:40

7 weeks ago56:40

56:40

Drew Shockley , Co-Founder of Move Health joins Mike Langford to explore how financial advisors can help their clients tackle one of the biggest obstacles that many are likely going to face at some point in their life… Finding a health care plan that they can afford and that works within the framework of their overall life goals. Chapters 00:00 Introduction to Healthcare Challenges 02:45 The Role of Financial Advisors in Healthcare Planning 06:05 Understanding the Healthcare Landscape 08:52 Target Demographics for Healthcare Solutions 11:59 The Importance of Age 55-64 in Healthcare Planning 14:56 Myths About Health Insurance 18:12 The Impact of the Affordable Care Act 21:05 The Shift in Financial Advisory Services 24:10 The Modern Financial Advisor as a Quarterback 27:59 The Financial Playbook: Strategies for Retirement Planning 34:52 Navigating Healthcare: The Role of Financial Advisors 40:56 Unlocking Freedom: Transitioning Clients to Retirement 46:43 The Future of Healthcare: Insights on the Affordable Care Act…

Modern Financial Advisor

1
Why Asking The Right Questions About Your Client’s Values Often Leads to Higher Quality Financial Advice 57:45

13 weeks ago57:45

57:45

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…

Modern Financial Advisor

1
Solving the Biggest Tech Problem in Wealth Management by Creating True Ownership of Your Firm’s Data 45:38

19 weeks ago45:38

45:38

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…

Modern Financial Advisor

1
How Financial Advisors Can Build Better Client Relationships by Leveraging Technology 52:07

25 weeks ago52:07

52:07

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…

Modern Financial Advisor

1
Strategies For Growing a Financial Advisory Business Without Adding New Clients 51:23

31 weeks ago51:23

51:23

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…

Modern Financial Advisor

1
A New Unified Managed Account Platform That Makes It Easy For Financial Advisors To Customize and Scale 35:35

32 weeks ago35:35

35:35

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…

Modern Financial Advisor

1
Why Financial Advisors Need a Cybersecurity Swat Team to Respond to The Inevitable 49:57

33 weeks ago49:57

49:57

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…

Modern Financial Advisor

1
How An Innovative New Solution For Donor Advised Funds Is Helping Financial Advisors Build Deeper Relationships With Client Households 45:11

34 weeks ago45:11

45:11

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…

Modern Financial Advisor

1
How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients 51:46

35 weeks ago51:46

51:46

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…

Modern Financial Advisor

1
Why Long-Term Care Insurance Should Likely Be A Part Of Every Client’s Financial Plan 1:02:05

38 weeks ago1:02:05

1:02:05

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…

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