Tag Archives: Financial Advisor

14. Rethink: Advisor Bias In Distribution Planning featuring Ramsey Smith

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

The number one goal and pain point addressed by financial professionals is the sustainability of retirement spending.  With all of the effort placed on accumulation funding, the demographics of world population dictate that distribution planning will become the hottest topic in the next decade.  

Concerns about mortality, interest rates, inflation, dividend yields, real estate and pensions require serious rethinking on how to deliver on the fundamental question of advisory clients around outliving their money.  The challenge is that we picked up a lot of dis- and misinformation on what’s worked and will work going forward.  This creates advisor bias and can impact the recommendations leading to questions of sustainability of retirement spending.  Do you have a bias on how to best generate income for your clients in retirement?

In this episode, Adam Holt & Derek Notman rethink advisor bias, specifically on retirement income certainty.  Adam and Derek invite Ramsey Smith, CEO of Alex.fyi and retirement distribution expert, into the Rethink Tank for some guidance on  this topic and how it impacts the industry both now and in the future.

Adam & Derek discuss:

  • What is the income certainty space?
  • The emotional certainty of pensions
  • Income vehicles that are popular today
  • The future of qualified plan options
  • The challenge with annuities and historical bias on the term
  • And more

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13. Rethink: Attracting Ideal Clients as a Thought Leader

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Being a thought-leading advisor is simply the way forward to attract the type of client you want to serve (and that wants to work with you). So how do you attract ideal clients as a thought leader?

In this episode, Adam Holt & Derek Notman discuss how proving yourself as a Subject Matter Expert (SME) and thought leader in your advisory niche is vital in attracting your ideal clients. Adam and Derek share from their own experiences and offer guidance on how you can develop yourself as a thought leader and spread your knowledge as a subject matter expert.

You better have a pencil and paper prepared for this one! 

Adam & Derek discuss:

  • Finding your niche as a subject matter expert
  • Intentionality as a propeller in thought leadership 
  • Tools that you can use to build your thought leadership
  • Blogs, vlogs, PR, engagement pods and what’s working today
  • And more

Resources:

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12. 10 Things Advisors Shouldn’t Do (Just sayin’)

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It is the end of the year, so sit back and prepare to laugh out loud and have a little fun with Adam and Derek as they give you 10 things that you absolutely should NOT be doing as an advisor. 

In this episode, Adam Holt & Derek Notman share a list of ten things that advisors are doing that they should stop right now—time to rethink it.  Adam and Derek touch on their personal stories (and make fun of each other) along the way and help you understand how following this advice could take your practice to the next level in 2022.  Cameo appearance from the numero uno robo, the Terminator as he chimes in to the podcast.

Adam & Derek discuss:

  • The roller coaster that is advising family members
  • You’re not listening and we can prove it with jargon
  • Sales lists versus relationships lists
  • The aspect of tech that everyone keeps ignoring and 10x the ROI
  • And more

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11. Rethink: Advisor vs. Entrepreneur featuring Robert Sofia

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

Do you consider yourself to be a financial advisor first or an entrepreneur?

In this episode, Adam Holt & Derek Notman rethink the financial industry with the help of Robert Sofia about whether or not advisors should be thinking with an entrepreneurial mindset. Adam and Derek speak to their own experiences and discuss how an entrepreneurial identity might be where the industry is headed.

Adam & Derek discuss:

  • If being a financial advisor the same thing as being an entrepreneur
  • Opportunities that advisors are missing
  • Things you can be doing to think of yourself as an entrepreneur
  • Lifestyle businesses versus enterprises and how to position yourself once you know what you want to be
  • And more

Resources:

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support@asset-map.com 

888-664-8850

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About Our Guest:

During the past decade, Robert has supported thousands of companies across the spectrum of financial services including solo advisers, ensembles, family offices, broker dealers, custodians, TAMPs, insurance companies, and others.

“I believe in putting people ahead of profits, obsessing over details, taking risks, working hard, and giving back.”

 

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10. Rethink: Moving Firms – Captive vs IBD vs RIA – featuring Ryan Shanks

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

A common question in the industry is what type of firm is best for a financial professional in today’s advisory world.

Is it captive or independent? Is it insurance, wealth management or registered investment advisor? Is it a hybrid? Is it some combination?
In this episode, Adam Holt & Derek Notman speak with Ryan Shanks, co-founder of FA Match, where they discuss what financial professionals are moving towards and leaving behind. The trio discuss the motivations for both firms and advisors to affiliate with modern practices and rebuilt legacy platforms.

Adam, Derek & Ryan discuss:

  • The typical profiles of advisors who are looking to make a move
  • Things advisors tend to consider before making a move
  • Solidifying your brand vs your firm
  • Steps you should consider before making a move
  • And more

Resources

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About Our Guest:

Ryan has over 21 years of experience in financial services. Prior to FA Match, he served in a leadership role for two Independent Broker Dealers where he managed national recruiting and internal succession strategies. Since 2000, he has managed and helped negotiate the transition of more than $200M in commission and advisory revenue.

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9. Rethink: Advisor, Adviser or Advicer – featuring Michael Kitces

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

As you likely know, the financial services business is changing in the way advice is delivered to clients, so this begs the question, is a professional’s identity best defined by being a “financial advisor, adviser, or advicer”? 

In this episode, Adam Holt & Derek Notman invite the renowned Michael Kitces to the Rethink Tank to debate professional identity, practice investments and regulation given the direction of the profession.  

Adam, Derek and Michael discuss:

  • How the financial professional community is changing, and what it could look like in the future
  • The key differences between a financial advisor, financial adviser, and financial “advicer”
  • The importance of brand-labeling yourself in the financial space, and how that plays a key role in your identity
  • Takeaways that you can implement to get ahead on the changing industry
  • Our guest question on the difference one the pressures of independence and firm affiliation
  • And more

Resources:

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About Our Guest:

Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, is the Head of Planning Strategy for Buckingham Wealth Partners, a private wealth management firm located in St Louis, Missouri, that oversees approximately $50 billion of client assets. In addition, he is the co-founder of the XY Planning Network, AdvicePay, fpPathfinder, and New Planner Recruiting, former practitioner editor of the Journal of Financial Planning, and the publisher of the e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View through his website dedicated to advancing knowledge in financial planning.

 

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8. Rethink: Paid vs Organic Digital Marketing

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

When building your marketing brand – what should you pay for and what should you not pay for?

When you chose to get into the financial advice industry, marketing was probably the last thing on your mind, however, it is a critical part of your brand awareness today.

In this episode, Adam Holt & Derek Notman rethink digital marketing as a financial advisor and what you need to know to implement it into your business. Adam and Derek attempt to simplify four categories of digital marketing and what makes sense to pay for or do yourself.

Adam & Derek discuss:

  • SEO, SEM, SMM, CTAs and content gen and understanding what they mean to you
  • How you can best leverage social media for your business and tell your story
  • Finding your prospects online and how to reach out to them
  • What to prioritize, what to postpone – what to pay for and what do yourself
  • And more

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7. Rethink: Marketing Vs. Prospecting

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

As a financial advisor it’s important to figure out how you’re going to generate more leads and customers — are you going to cold call potential clients or create an online presence? 

In this episode, Adam Holt & Derek Notman rethink the idea of prospecting in the financial industry and how (digital) marketing might change what has been the norm for so many years. Adam and Derek speak about how marketing can fit into your personal identity and help you stand out from the crowd.

Adam & Derek discuss:

  • The effectiveness of prospecting and marketing
  • The consumer reactions to prospecting and how marketing fits in
  • How you could leverage both prospecting and marketing as a younger advisor
  • Things you can take away and start implementing into your practice
  • And more

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6. Rethink: Are You a Star Player or Team Coach?

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

On a sports team, every role is important to reaching a goal, and the financial space is no different.

The question is, are you one of the star players or are you the head coach?

In this episode, Adam Holt & Derek Notman discuss how your identity plays a key role in determining how you assist clients and use the analogy of sports to help you understand it better. Adam and Derek speak about how each role is equally as important, but knowing where you fit in can take your client services to the next level.

Adam & Derek discuss:

  • The financial roles on a team and how they compare to their sports analogy
  • How to coordinate your team around different types of clients
  • How to use your identity to lay out expectations for yourself and your clients
  • What you can do to define yourself as a player or coach and how to build the perfect team around you
  • And more

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5. Rethink: Financial Advice a Luxury or Necessity?

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

There is a common phrase that indicates the luxuries of one generation will become the necessities of the next.

But how does this age-old concept relate to the financial industry? 

In this episode, Adam Holt & Derek Notman rethink the financial industry in terms of luxuries versus necessities. The duo dissect how services once seen as luxuries for wealthy individuals are now becoming more common to the mass market, and how advisors should respond to the change.

Adam & Derek discuss:

  • The shift to financial services becoming more common to the mass market
  • Services that the wealthiest clients once used and what is happening with those services today
  • What financial advisors should be doing so they continue to add value while luxuries become necessities 
  • How advisors should add human value – especially when working with a team of professionals 
  • And more

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