Tag Archives: Financial Advisor

Can you buy Marketing Success? With Megan Carpenter (Ep 24)

Education, Finance, Financial Services, Fintech, Uncategorized, , , , , ,

“There are some things that money can’t buy”, Is marketing success one of those things?

In this episode, Adam Holt & Derek Notman invite Megan Carpenter, CEO & Co-Founder of FiComm Partners into the Rethink tank. Megan discusses what the future of marketing could look like. Along with the importance of establishing a target market. 

Megan discusses:

  • Why you can’t buy long term marketing success
  • The importance of finding your niche market
  • Her unique perspective on the advice market
  • Why marketing is the primary driver for organic growth
  • And more

Resources:

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About our Guest: 

Megan Carpenter is CEO and Co-Founder of FiComm Partners, an award-winning agency for RIA firms and financial advisors. FiComm exists to expand the impact of financial advice by leading human-centred business change through New Skool marketing, PR, and advisor marketing education. Recognized as a top-4 Industry Disruptor in 2020 by WealthManagement.com, FiComm’s services allow advisors to lead with authenticity, target their focus and drive to commercial success.

Recently named to the Investment News 40 Under 40 list, Meg’s expertise spans over 15 years of helping RIA firms and advisors connect, communicate and engage effectively with their target audiences. Her passion to promote the industry is demonstrated through her involvement with the CFP Board Center for Financial Planning Workforce Development Advisory Group. She is also part of the Pledge 1% global movement, having pledged 1% of personal equity, profits, time and product to non-profits in the wealth management community. Current recipients of her Pledge are the CFP Board Center for Financial Planning, Foundation for Financial Planning and the Impact Forum. Megan began her career at John Hancock Financial Network before launching her own business, Caritative Wealth Consulting, at the age of 29. Megan merged her consulting business into her second business venture, FiComm Partners in 2014.

A regular blogger and spokesperson in the media on topics related to financial services marketing and communications, Megan is also a sought-after speaker at a wide range of industry events, including Schwab IMPACT, Pershing INSITE, Bob Veres’ Insider’s Forum, ECHELON Partners Deals and Deal Makers Summit, Riskalyze Fearless Investing Summit, InvestmentNews Best Practices Workshop and Top Advisory Firm Summit, In|Vest, FPA NorCal, MarketCounsel Summit, and the CFA Institute. In addition, she is a co-host of The New Skool podcast.

Megan graduated from the University of Southern California with a B.S. in Business Administration, with an emphasis in Global Management. She sits on the Advisory Board of Absolute Engagement, a client engagement business, and the Board of Directors for the Los Angeles chapter of Entrepreneurs’ Organization (EO). Megan is a proud supporter of the USC Alumni Association, the USC Marshall School of Business Scholarship Fund, and the American Red Cross.



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Ask Us Anything – If You Could Start Over (Ep 23)

Education, Finance, Financial Services, Fintech, Uncategorized, , , , , ,

Regardless of our profession most of us at some point find ourselves asking the question:

If you could do it all again, what would you do?

In this episode, Adam Holt & Derek Notman chop it up in the Rethink tank by taking questions live from financial advisors on everything from mistakes made to what they would do differently if they re-started their career journey.  Raw and unfiltered, don’t miss this fun conversation where you are sure to learn a thing or two.

Adam and Derek discuss:

  • The importance of building an online brand
  • Putting time and money into improving your business 
  • The understanding of who your brand and ideal clients are
  • How pivoting to a remote work model improves productivity
  • And more

Resources:

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Rebirth of the Proactive Advisor with Philipp Hecker & Dr. Meg Lurtz (Ep 22)

Education, Finance, Financial Services, Fintech, Uncategorized, , ,

Does timing matter when it comes to giving advice?

So much of our lives are defined by age and time-related milestones. However, it would seem a lot of advisors aren’t as focused on being proactive when it comes to providing financial advice to their clients as we would like or expect.  Some guidance is more relevant to times-of-life (think retirement, or college, or having a family), whereas others are driven by tax or legal deadlines.  

In this episode, Adam Holt and Derek Notman are joined by Philipp Hecker, CEO of Bento Engine & Dr. Meg Lurtz, Ph.D. in Personal Financial Planning. They discuss the importance of being proactive in providing clients with financial advice. 

Meg & Philipp discusses:

  • Being proactive with the timing of advice
  • Why more advisors are focused on leading with advice than selling products 
  • The Jerry Maguire standard of care for clients
  • And More!

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About Our Guests:

Meghaan R. Lurtz, Ph.D. is a writer and senior research associate with Kitces.com, a blog dedicated to the practice of financial planning. Meghaan is also an educator, serving as a professor of practice at Kansas State University in their advanced financial planning track and as an adjunct assistant professor within the University of Maryland system for undergraduate financial planning coursework. Meghaan is a past President of the Financial Therapy Association. She has been quoted in New York Magazine, New York Times, Wall Street Journal, and presented for the BBC, CFPB and MDRT. She co-authored two chapters in the CFP Board’s recent book, Financial Psychology. Her research has been published in the Journal of Financial Planning, Financial Planning Review, and the Journal of Consumer Affairs.

Meghaan earned her Ph.D. in Personal Financial Planning from Kansas State University, her M.S. in Industrial-Organizational Psychology from Capella University, and her B.A. in Psychology, Philosophy, and Spanish from Kansas University.

Philipp is CEO of Bento Engine, a FinTech at the intersection of technology and wealth management advice. Previously, he focused on defining and implementing client-centric growth strategies in the wealth and asset management industries. After completing his M.B.A. at Harvard Business School in 2002, he spent 5 years with the Boston Consulting Group in New York, before joining Deutsche Bank in 2007. At Deutsche Bank, he helped integrate and grow key U.S. acquisitions such as Bankers Trust, Alex Brown, and Scudder. Philipp joined J.P. Morgan in 2013, where he held several wealth management leadership positions through 2020, including Global Head of Strategy. He also launched and led J.P. Morgan’s Wealth Planning & Advice organization, which includes The Advice Lab, The Philanthropy Centre, and the firm-wide Goals-Based Advice teams. 

Philipp is passionate about financial planning, behavioral finance, and teaching children about the important concepts of money and wealth. In his spare time, he enjoys German expressionist art, global travel, and squash, and he resides in CT with his wife, four young children, and black lab “Lou”.

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Are you a Fake Fiduciary with Tom Hegna (Ep 21)

Education, Finance, Financial Services, Fintech, Uncategorized, , , , ,

Are you a fake Fiduciary? 

The word “fiduciary” is thrown around a lot, but are advisors who use it, truly acting as fiduciaries or just marketing it?

In this episode, Adam Holt and Derek Notman are joined by Tom Hegna. One of the most prolific industry speakers, Tom is considered by many an expert in Retirement Income and Security common sense! He comes to Rethink Tank to shed some light on the irony of the current attitudes towards “fiduciary” and sees a huge hole in most professionals’ stories. He also provides some insight into the ins and outs of the financial advice market today and what consumers are really looking for from their professionals. 

Tom discusses:

  • Where the financial service market is currently at
  • Why Fake Fiduciaries don’t look out for their client’s best interest
  • Addresses why advisors survive less than 5 years in the insurance industry
  • The Importance of knowing the product you’re promoting at the right time
  • And More!

Resources:

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About Our Guest:

Tom Hegna is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert!.

As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature “Paychecks and Playchecks” retirement approach, helping Baby Boomers and seniors retire the “optimal” way. He has condensed a large chunk of his considerable knowledge into 5 books.

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The Risk of Advisor Complacency Featuring Aaron Klein (Ep. 20)

Education, Finance, Financial Services, Fintech, Uncategorized, , , , , , , , , , ,

Today’s fintech solutions are improving financial professional productivity by rethinking how they integrate technology available.  And yet, advisors are telling us that they’re using legacy tools that are 5, 10 and 20 years old.  Consider how this complacency is going to snowball as we move into digital-first consumer expectations.  

In this episode, Adam Holt & Derek Notman welcome Aaron Klein into the Rethink tank. Aaron Klein is the CEO and cofounder of Riskalyze, a company that invented the Risk Number®. Aaron has incredible experience solving problems before they are broken.  We hear from Aaron on his perspective of the commitment to human advisors and their adoption of tech that really works in their practices.  

Aaron discusses:

  • The only strategy where human advisors beat robo advisors
  • The importance of discussing risk with new and current clients
  • The importance of finding the right tech, not all the tech
  • The number of important insights that are only one-tech integration away
  • And more

Resources:

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About Our Guest:

Aaron Klein is co-founder and CEO at Riskalyze, the company that invented the Risk Number® and empowers anyone to become a fearless investor. The company is headquartered in Auburn, California and serves many thousands of financial advisors.

He is husband to Cacey Steward Klein, and dad to Spencer (born in South Korea), and Emma and Teddy (born in Ethiopia). Aaron and Cacey cofounded Hope Takes Root, an initiative to use vocational training and life mentoring to change the future for orphans and at-risk kids in Ethiopia.

Previously, Aaron was elected as a Sierra College Trustee three times and served from 2004-2016. He consistently gives his PR people heart attacks by tweeting at @AaronKlein.



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Surviving the (Digital) Tsunami With Jason Wenk (Ep. 19)

Education, Finance, Financial Services, Fintech, , , , , , , ,

A digital tsunami is coming. This is your warning! 

The major changes that are coming to the financial (digital) advisor are going to be disruptive in ways we’ve never seen before.

Adam Holt & Derek Notman welcome Jason Wenk, CEO and founder of Altruist, into the Rethink Tank to discuss the technology revolution and its inevitable impact on the financial advice market. 

Adam, Derek, and Jason discuss:

  • The inevitability of a digital revolution in the financial advice industry
  • How to navigate the transfer of wealth to the next generation
  • What it will mean to reinvent and spin up the flywheel, Amazon style. 
  • Transparency and putting prices on your website
  • And more

Resources:

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About Our Guest:

Jason Wenk is a serial entrepreneur, fin-tech executive, writer, math geek, financial advisor (RIA), and investment systems developer. He is the founder of Altruist, the first fully-integrated digital brokerage platform for financial advisors, and FormulaFolios, a quantitative investment research firm. 

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Building a Social Media Following With Devin Banerjee of LinkedIn (Ep. 18)

Education, Finance, Financial Services, Fintech, , , , , , , , , , ,

As a financial advisor, does the number of followers you have on social media matter?

Well, if you’re trying to grow your advising business, the more people who hear your authentic voice the better, right? And, when it comes to social media, the growth potential is truly unlimited. 

But how do you start to build a following? What about compliance? 

In this episode, Adam Holt & Derek Notman are joined by Devin Banerjee in the Rethink Tank. Devin is the Editor at Large for business and finance at Linkedin. Together, they Rethink why having a following is so important for financial advisors and how you can start to build a following. 

Devin discusses:

  • The ability of technology to elevate human service
  • The three major trends impacting the financial advisor market today
  • The ABCDE framework for content creation
  • Getting your authentic voice out there collaboratively with compliance
  • And more

Resources:

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About Our Guest:

Devin Banerjee is editor at large at LinkedIn, covering business and leading finance coverage for its 800 million global members. Banerjee was previously an editor and reporter at Bloomberg, where he covered investment management before overseeing coverage of M&A and the private equity industry. Prior to that, he reported for The Wall Street Journal. He’s an honors graduate of Stanford University and holds the Chartered Financial Analyst designation.

 

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Rethinking the Significance of Advice in a Sustainable Sales Practice featuring Joe Jordan (Ep. 17)

Education, Finance, Financial Services, Fintech, Uncategorized, , , , , , , , , ,

Market-centric advisory practices are unsustainable. Developing a customer-centric model is therefore imperative to ensure long-term business sustainability.

In this episode, Adam Holt & Derek Notman rethink what it means to run a sustainable advisory practice. Adam and Derek bring Joe Jordan into the Rethink tank to share his profound vignette phrases and wealth of experience in the power of attitude and perspective in delivering financial guidance.

Joe Jordan discusses:

  • The power in taking a client-centric approach
  • The advisor evolution from a sales culture to a service culture
  • The importance of taking a story-first approach in advising
  • The value in helping your clients find vocation in retirement
  • And more

Resources:

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About Our Guest:

Joe Jordan, inspirational speaker, and behavioral finance expert is the author of the award-winning book Living a Life of Significance (Acanthus Publishing, 2013). Formerly, Joe ran insurance sales at Paine Webber and more recently was a senior vice president at MetLife. He was responsible for retail product development and started their fee-based financial planning program and behavioral finance department. Joe is also a founder of the Insured Retirement Institute and has been featured on the cover of Life Insurance Selling magazine.

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The “B” in Beta Stands for Behavior With Daniel Crosby (Ep 16)

Education, Finance, Financial Services, Fintech, , , , , , , ,

Is it possible that the biggest influence on investor outcomes is their own behavior?  How can advisors quantify and help their clients capitalize on one of the biggest value propositions often unspoken.  

Join Adam and Derek as they interview Dr. Daniel Crosby in the Rethink Tank for his unique and frank perspective on where advisors can add more alpha through behavior management.  

Dr. Daniel Crosby is the Chief Behavioral Officer at Orion Advisor Solutions, a best-selling author and keynote speaker.

Daniel Crosby discusses:

  • How to quantify the value advisors have
  • The implications behavior has on financial outcome
  • The importance of trust in the financial advisor market 
  • How to win by out-competing on the human side of money
  • And more

Resources:

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About Our Guest:

Daniel Crosby is the Chief Behavioral Officer at Orion Advisor Solutions. In this role, he is responsible for bringing behavioral tools, training, and technology to financial advisors to allow for the practical application of behavioral science. He is a psychologist and behavioral finance expert who applies his study of market psychology to everything from financial production design to advisor-client engagement. Daniel has more than 10 years of experience in the financial services industry and has published a number of bestselling books that serve as guides to building stronger advisor-client engagement with a focus on achieving better outcomes.

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Beyond Fiduciary featuring George Kinder (Ep.15)

Education, Finance, Financial Services, Fintech, , , , , , , , ,

What do Life Planning and Dream of Freedom have to do with being a Fiduciary? 

In this episode, Adam Holt & Derek Notman invite George Kinder into the Rethink Tank to talk about the critical mindset of being a client fiduciary. George shares his perspective of how financial advice can help people find meaning, and how it starts with listening. 

George discusses:

  • Shares how he views the financial advice market today
  • Opportunities that advisors are missing in the financial space
  • Actionable steps that advisors can take to use unleash fiduciary mindset
  • How we can save the planet! 
  • And more

Resources:

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About Our Guest:

Internationally recognized as the father of the Life Planning movement, the Harvard-educated George Kinder revolutionized financial advice for over 30 years by training thousands of professionals globally in the field of financial Life Planning. He founded Kinder Institute of Life Planning in 2003 after 30 years as a practicing financial planner and tax advisor. George is the author of seven books, including three books on money, The Seven Stages of Money Maturity, Lighting the Torch, and Life Planning for You; a book on mindfulness, Transforming Suffering into Wisdom; his recently acclaimed, A Golden Civilization & The Map of Mindfulness; and two books of poetry and photography, including his latest project, Reflections on Spectacle Pond.

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