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In this Friday recap, Amber explores the crucial difference between efficiency and effectiveness for financial advisors. She highlights Matt and Micah's discussion on leveraging proven processes and replicating successful strategies, emphasizing the importance of attention to detail and strict adherence to deadlines. Amber stresses how these practices can significantly enhance an advisor's effectiveness and overall performance.
The recap also highlights Jamie's insights on managing decision fatigue and maintaining work-life balance in the demanding world of financial advising. Advisors can optimize their professional processes while nurturing personal relationships by focusing on effective communication with clients and loved ones and finding humor in challenging situations.
Resources in today's episode:
- Episode Website
- You Are Only Cheating Yourself [Episode 264]
- Decision Fatigue -
Jamie Shilanski shares her secrets for maintaining a thriving marriage while excelling in a demanding career. She reveals how effective communication strategies can transform both the personal and professional lives of financial advisors. Jamie and her spouse employ humor and playful games to diffuse tension and strengthen their bond, offering listeners practical tips for navigating family dynamics and handling difficult conversations with grace and wit. The episode delves into the concept of decision fatigue, exploring how this hidden relationship killer affects financial advisors and presenting strategies to overcome it. Jamie emphasizes the importance of fostering open dialogue and truly understanding your partner's perspective, providing invaluable insights on balancing professional success with personal fulfillment.
Decision Fatigue
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Saknas det avsnitt?
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Matt and Micah are exploring the pivotal role of robust processes in enhancing the effectiveness of financial advisors. They challenge the conventional wisdom that efficiency alone leads to success, advocating instead for a more nuanced approach. The duo delves into the dangers of skipping critical steps, the impact of emotional attachment on decision-making, and the importance of maintaining objectivity in practice management. They emphasize how these factors can significantly influence the success and growth of a financial advisory practice.
Throughout the discussion, Matt and Micah stress the importance of diligence, critical analysis, and unwavering accountability for financial advisors. They provide insights on harnessing the power of strategic deadline-setting and intentional calendar planning to drive practices forward. The conversation also touches on the need for continuous refinement and adaptation of processes as practices evolve.
You Are Only Cheating Yourself [Episode 264]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn
- Micah Shilanski: Website | LinkedIn -
In this recap episode, Amber first highlights the Matt and Kevin’s Thompson’s discussion on Monday. Matt and Kevin talked about the importance of providing massive value that goes beyond just investment returns. They stressed authenticity, being true to oneself, and promoting your unique value proposition instead of getting lost in the noise of generic marketing claims.
For financial advisors to truly stand out, they can't discount the value they provide or compete solely on price. Instead, advisors must find their genuine selves, the direction they want their businesses to go, and confidently promote those differentiated services and experiences they offer clients.
Amber then highlighted Jamie’s episode on Thursday where she shared navigating income disparities in the household. Jamie shared insights on maintaining balance and how to feel valued when one significantly out-earns the other.
Resources in today's episode:
- Episode Website
- The Transparency Edge: A Ponzi Victim's Manifesto for Value-Driven Financial Advice with Guest Kevin Thompson [Episode263]
- When You Earn More Than Your Spouse - Navigating Income Disparity -
Jamie Shilanski takes a dive into the intricate dynamics of income disparity within households. With a keen eye on the challenges faced by financial advisors, she explores the delicate balance between financial management, decision-making, and individual autonomy. Jamie sheds light on the profound impact differing incomes can have on relationships, financial planning, and personal fulfillment. Through practical strategies, she equips financial advisors with invaluable tools to navigate these complex waters, empowering them to deliver unparalleled value to their clients.
From addressing the emotional nuances of financial disparities to crafting tailored solutions that foster harmony and mutual understanding, this episode is a must-listen for financial advisors seeking to elevate their practice and provide exceptional service to households grappling with income inequalities.
When You Earn More Than Your Spouse - Navigating Income Disparity
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Imagine having your faith in the financial system shaken to the core by a devious Ponzi scheme. For Kevin Thompson, this devastating reality wasn't just a wake-up call – it was a defining moment that reshaped his entire approach to serving clients as a financial advisor.
In this episode, Matthew Jarvis sits down with Kevin to unpack the hard-won lessons from his traumatic experience. Kevin pulls back the curtain on the dangers that lurk in the shadowy corners of the industry and the red flags every investor must heed.
Kevin's story is a testament to the power of radical transparency, education, and good old-fashioned authenticity in an industry rife with empty promises and misaligned incentives.
Jarvis and Kevin dismantle the notion that advisors must compete on fees alone. Instead, they recommend carving out a unique niche, fostering deep client relationships, and commanding premium prices by providing personalized, life-changing advice.
The Transparency Edge: A Ponzi Victim's Manifesto for Value-Driven Financial Advice with Guest Kevin Thompson [Episode263]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn
- Kevin Thompson: Website | LinkedIn -
In this recap episode, we’re revisiting the highlights from this week on delegation and the role your job plays in your life. Lisa Zeeveld from BELAY joined Matt to share invaluable wisdom on how leveraging virtual assistants and bookkeepers can create a profound sense of peace of mind, enabling advisors to focus on their core genius. Lisa highlighted the transformative power of delegation, empowering advisors to reclaim their time, attend family events, and pursue personal passions. By entrusting tasks to skilled professionals, advisors can safeguard their businesses, ensure meticulous financial management, and protect themselves from overlooking crucial details.
Jamie emphasized the importance of separating one's vocation from avocation, challenging the notion that a job should be the sole source of happiness. She encourages financial advisors to strategically invest in their recovery and personal fulfillment, recognizing that true growth stems from a balanced approach to work and life.
Resources in today's episode:
- Episode Website
- The Right Hire. Right Now: How BELAY Ensures You Get the Right Team Member with Guest Lisa Zeeveld [Episode 262]
- Your Vocation Should Pay For Your Avocations -
Jamie Shilanski challenges the conventional wisdom that our jobs should be the sole source of fulfillment and happiness. Instead, she advocates for a mindset shift: Treat your vocation as a means to fund your avocations, your true passions, and your adventures in life.
Too often, young financial advisors fall into the trap of expecting their careers to provide all-encompassing purpose and joy. However, Shilanski emphasizes that genuine happiness is an individual choice and responsibility, not something employers can bestow.
For financial advisors seeking sustainable growth, both personally and professionally, Jamie’s insights are invaluable. She underscores the critical importance of recovery and rejuvenation, urging advisors to intentionally "refill their cups" through self-care practices and by setting healthy boundaries.
By prioritizing personal fulfillment outside of work and proactively nurturing their own well-being, financial advisors can cultivate the resilience and passion necessary to thrive in their careers while living truly enriching lives.
Your Vocation Should Pay For Your Avocations
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Lisa Zeeveld from BELAY joins Matt to explore the game-changing power of delegation for financial advisors. Lisa dives deep into how skillfully delegating tasks can revolutionize your business, freeing up precious time and mental bandwidth to focus on what truly matters.
Shatter the myth that delegation means dumping unpleasant chores. Instead, Lisa reveals how enlisting the expertise of virtual assistants and bookkeepers allows you to leverage their skills, enabling you to soar in your zone of genius. Say goodbye to the daily grind of email management, calendaring, travel arrangements, and personal appointments – hand them over to your capable assistant. Delegation skyrockets productivity and bestows a priceless sense of peace of mind.
Effective delegation also demands clear communication and aligned expectations, and Lisa shares invaluable insights into fostering a seamless partnership with your assistant through regular check-ins and quarterly planning sessions.
The Right Hire. Right Now: How BELAY Ensures You Get the Right Team Member with Guest Lisa Zeeveld [Episode 262]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn
- Lisa Zeeveld: Website | LinkedIn
- Text RIA to 55123 to get a copy of BELAY’s guide to delegation
- Delegation and Bookkeeping Breakthroughs with Guest Lisa Zeeveld -
Amber takes you behind the scenes to recap the strategies for financial advisors to attract and retain high-net-worth clients, as well as mastering the art of marketing.
First, Paul Saganey joined Matt to unveil the intricate "complexity curve" that separates elite advisors from the rest. Discover why building a team of experts is the ultimate key to exceeding the lofty expectations of affluent clients. Jamie unleashed a torrent of marketing tactics that will help your firm's visibility and authority. From mastering the art of website SEO to crafting captivating content that resonates with your target audience.
Resources in today's episode:
- Episode Website
- Moving Up the Complexity Curve: Serving High-Net-Worth Clients with Guest Paul Saganey [Episode 261]
- Marketing. What Works For Financial Advisors? -
Jamie unveils the secrets to crafting a winning marketing strategy that drives real results. Forget one-size-fits-all approaches – the key to success lies in committing to a plan that aligns with your unique strengths and preferences. Jamie breaks down the most effective marketing channels for financial advisors, from mastering the art of website optimization and SEO wizardry to leveraging the power of social media, email campaigns, webinars, and podcasting. She also shares invaluable insights on leveraging referrals, direct mail, and local marketing tactics to supercharge your growth.
Marketing. What Works For Financial Advisors?
Resources in today's episode:
- Raving Fans by Ross Blanchard and Sheldon Bowles -
Matthew Jarvis sits down with Paul Saganey, the visionary founder of Integrated Partners. They dive into the "Complexity Curve" – the unique challenges financial advisors face when serving high-net-worth clients with multifaceted financial portfolios.
Saganey's profound insights shed light on the necessity for advisors to evolve and ascend the complexity curve, equipping themselves with a comprehensive arsenal of expertise. He emphasizes the critical role of having a clear vision and a team of collaborators who collectively possess a vast array of specialized knowledge.
The conversation also highlights the paramount importance of continuous learning and insatiable curiosity—the cornerstones of staying ahead in the ever-evolving financial advisory industry. Sagany's expertise underscores the value of reaching out to subject matter experts across various disciplines, ensuring that financial advisors can provide a truly holistic and tailored approach to their affluent clientele.
Moving Up the Complexity Curve: Serving High-Net-Worth Clients with Guest Paul Saganey [Episode 261]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn
- Paul Saganey: Website | LinkedIn- Optimizing the Financial Lives of Clients: Harness the Power of an Accounting Firm’s Elite Wealth Management Practice
- Making Smart Decisions
- Article: It's Time To Prepare For When, Not If, AI Replaces Advisors -
In this recap episode, Amber is sharing the highlights from this week. Monday, Ted Jenkin joined Matt to reveal that traditional valuation methods often underestimate the true worth of successful RIA practices. He emphasized the power of leveraging the open marketplace, where multiples can soar as high as 14 to 17 times cash flow for larger firms. The key, according to Jenkin, is understanding the velocity of money and evaluating strategies that will rapidly build net worth. On Thursday, Jamie stressed the importance of starting with a clear long-term vision and exit strategy when it comes to your business. She advocates for vision mapping over traditional business plans, coupled with a SWOT analysis that considers the owner's personal strengths and weaknesses. Choosing the right legal structure, maintaining proper documentation, and avoiding the commingling of assets is crucial to protecting liability and maximizing valuations. Perhaps most importantly, Jamie emphasized the need for a well-defined succession plan, not just for the business but also for the transition of client relationships. By building a sellable business from day one, with clean financials and verifiable records, financial advisors can position themselves for maximum growth and an optimal exit strategy.
Resources in today's episode:
- Episode Website
- Accelerating Your Growth and Understanding Practice Valuations with Guest Ted Jenkin [Episode 260]
- How Your LLC Fails -
In this episode, Jamie Shilanski is shedding light on business structuring and long-term planning strategies. She explains why selecting the right legal entity is crucial for maximizing tax benefits and prepping your exit strategy. Jamie also breaks down the risks of mixing personal and business assets, a no-no that can pierce your corporate veil.
But keeping clean books is just the start. Jamie emphasizes the need for a rational succession plan to ensure your hard-earned equity doesn't go up in smoke. Jamie discusses the importance of properly structuring small businesses, particularly S-Corps, and highlights the risks of co-mingling personal and corporate assets and the potential consequences of piercing the corporate veil.
How Your LLC Fails
Resources in today's episode:- Plunder by Brendan Ballou
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In this episode, Matthew Jarvis sits down with industry veteran Ted Jenkin to demystify practice valuations for financial advisors. Ted shares the common misconceptions and the stark difference between a valuation and the actual market price a business can command. Ted also discusses his wisdom on the critical factors that shape practice valuations, including the oft-overlooked elements of culture, money management prowess, and brand equity. He also sheds light on the pivotal role of cash flow velocity and stock growth trajectories, elements that can make or break a potential sale.
Whether you're a financial advisor contemplating an exit strategy or simply seeking to futureproof your practice for sustainable growth, this episode is an absolute must-listen.
Accelerating Your Growth and Understanding Practice Valuations with Guest Ted Jenkin [Episode 260]
Resources in today's episode:- Matt Jarvis: Website | LinkedIn
- Ted Jenkin: LinkedIn | Website
- Two-Year Checklist and Client Acquisition Techniques -
In this recap episode, Amber shared strategies for financial advisors to conquer their insecurities and build a referral-generating powerhouse through strategic partnerships with CPAs. On Monday, Matt and Steven reveal their proven approach to breaking down the 'COI' barrier, delivering value that tax professionals can't ignore. Their secret? Embracing a mindset of generosity by offering to pay for CPAs' time – a small investment that opens doors to a flood of high-quality referrals and benefits for existing clients.
But referrals are just one piece of the puzzle. Jamie discussed how to conquer the inner 'head trash' and insecurities that hold advisors back. Her weapon of choice? Building a supportive team and mastermind community to bounce ideas off and stay motivated through the highs and lows of the entrepreneurial journey.Resources in today's episode:
- Episode website
- Decoding the CPA Mindset: Tips for Financial Advisors to Earn More Referrals with Guest Steven Jarvis, CPA [Episode 259]
- Encore Episode: Dealing with Head Trash -
Jamie Shilanski tackles the all-too-common insecurities that hold financial advisors back from reaching their full potential. With candor and wisdom, she dives into the realm of "head trash" – those nagging doubts, feelings of unworthiness, and self-sabotaging thoughts that can cripple even the most talented professionals.
Jamie shares battle-tested strategies for identifying and compartmentalizing these insecurities, empowering financial advisors to take control of their inner dialogue and conquer their fears on a daily basis. From the power of surrounding oneself with positive, inspiring individuals in mastermind groups to the transformative impact of establishing a morning success routine, this episode is a must-listen for any financial advisor seeking to break free from limiting beliefs and achieve unprecedented success.
Encore Episode: Dealing with Head Trash
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Matthew Jarvis is joined by Steven Jarvis, CPA, from Retirement Tax Servies to lift the veil on the challenges financial advisors face when seeking referrals from CPAs – a pivotal Center of Influence (COI). This episode is a candid exploration of the risks and hurdles CPAs grapple with before referring clients to financial advisors, including the potential downsides and the pressing need to understand the true value advisors bring to the table.
They also dive into the art of building relationships with CPAs, offering game-changing strategies like paying for their time to thoroughly grasp your services and ideal client profiles. They share the secrets to a consistent, intentional process for nurturing these relationships and securing a steady stream of referrals.
This episode is a treasure trove of practical tips, from creating a 12-month calendar of activities to offering to pay for an hour of a CPA's time (goodbye, forgettable lunch meetings!). But the real gem lies in their emphasis on the long-term value of these COI relationships for your existing clients and the importance of clear communication between financial advisors and CPAs.
Decoding the CPA Mindset: Tips for Financial Advisors to Earn More Referrals with Guest Steven Jarvis, CPA [Episode 259]
Resources in today's episode:- Matt Jarvis: Website | LinkedIn
- Steven Jarvis: LinkedIn | Website
- Delivering Massive Value by Matthew Jarvis
- What’s In It For Them by Joe Polish
- Retirement Tax Services Podcast
- TPR LIVE and RTS Tax Summit - Save Your Seat!
- The Prospect Process Masterclass -
In this recap episode, Amber shares strategies from Matt and Micah to help financial advisors laser-focus their efforts on landing more prospects. Discover why intentionality and proven systems are game-changers in the art of prospecting. She breaks down the different prospecting channels every advisor needs to master, from leveraging referrals and centers of influence to networking, seminars, and content creation. Learn which tactics top advisors use to keep their prospect pipeline overflowing.
Amber also highlights the prospect onboarding process from Jamie’s Worlds to Conquer episode. Find out what critical information you need to request from prospects upfront and how to deliver massive value from your very first meeting.
Resources in today's episode:
- Episode website
- What Do Prospecting and Six-Pack Abs Have in Common? [Episode 258]
- Encore Episode: New Client Onboarding - What Information New Prospects and Clients Provide -
Are You Struggling to Convert Promising Prospects into Loyal Clients? In this Encore Worlds to Conquer episode, Jamie Shilanski reveals the secret to converting prospects into loyal clients for financial advisors. She masterfully breaks down the art of onboarding, emphasizing the importance of gathering comprehensive financial documents from prospects to deliver accurate and valuable advice tailored to their unique situations.
Discover Jamie's "no sell sell" approach, where advisors focus on providing exceptional value during the initial consultation, leaving prospects eager to continue their partnership. Learn the crucial steps to transform prospects into clients, including the key questions to ask and the vital information to obtain.
Jamie's expertise will equip financial advisors with a streamlined onboarding process that not only impresses prospects but also lays the foundation for a long-lasting and fruitful client relationship. Don't miss this opportunity to elevate your practice and attract your ideal prospects with a seamless and value-driven onboarding experience.
Encore Episode: New Client Onboarding - What Information New Prospects and Clients Provide
- Visa fler
