Tag Archives: Financial Identity

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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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

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

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’)

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

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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