Episodes
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Today’s episode highlights include:
Considerations in legal representation when making a career move or planning an M&A transaction.Critical safeguards for buyers and sellers to secure M&A contracts and ensure a smooth transition.AI in finance—opportunities and the risks associated with fraud, client confidentiality, and regulatory compliance.Client communication and compliance pitfalls, with tips on maintaining accuracy and transparency in a digital-first world.Frank and Matt provide a well-rounded perspective on staying vigilant about legal risks, managing client data, and protecting practice value. Listen in to learn practical insights that will help you safeguard your business, build trust with clients, and strengthen your career path. This episode is essential for advisors who want to stay ahead in an industry where the stakes—and potential legal challenges—are always high.
ATTORNEY ADVERTISING. THE CONTENT CONTAINED IN THIS PODCAST IS MEANT FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE RELIED ON FOR ANY PURPOSE. NOTHING CONTAINED IN THIS EPISODE SHOULD BE CONSTRUED AS LEGAL, INVESTMENT, OR TAX ADVICE. LISTENING TO THIS EPISODE DOES NOT CREATE AN ATTORNEY-CLIENT RELATIONSHIP.
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Key takeaways from today’s episode include:
The impact of “set-it-and-forget-it” client relationships and how they may lead to a false sense of security.Why consistent, proactive communication matters, even in positive markets, to prevent clients from feeling overlooked.Simple systems and automation tips for keeping client connections strong, from milestone check-ins to meaningful outreach strategies.How to assess and strengthen client loyalty—and why it’s crucial before any potential transition or succession.Frank and Stacey emphasize that the value of an advisory practice is more than just assets under management; it’s the depth of client relationships. Tune in for their insights on ensuring your practice is built for longevity and client loyalty. Listen now to learn the steps you can take today to keep your clients engaged and your practice thriving.
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Missing episodes?
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Topics include:
*The importance of having a clear understanding of what independence means to you so that you can find a firm partner that meets your unique needs.
*An explanation of the varying levels of independence available to advisors, and the differences between the models depending on how much autonomy advisors are seeking.
*How each independent channel has unique differences that can impact your practice and why it's crucial to understand these differences to make an informed decision when considering a transition opportunity.
Through listening to this episode, financial advisors will gain insights into the spectrum of independence, from complete autonomy to supported independence within a larger organization. Together, Frank and Stacey have helped hundreds of advisors successfully transition to various independent channels. Use this episode as your go-to resource for understanding the nuances of financial advisor independence.
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Today's show highlights include:
*The benefits of home office visits for both firms and advisors.
*The importance of details when it comes to planning home office visits.
*Why you should understand the in-person culture of a firm before making a decision.
*The difference in production and creativity when people are working virtually vs. in-person.
Join Frank and Stacey as they explore why a positive company culture is essential for personal success and happiness in the workplace. Through engaging discussions and personal anecdotes, they illustrate the unparalleled benefits of in-person collaboration, highlighting how it fosters creativity, productivity, and a sense of belonging. Their stories demonstrate that while virtual work has its advantages, the synergy and innovative ideas that emerge from a collaborative in-person team are unmatched. Don't miss this insightful episode filled with practical advice and firsthand experiences that underscore the importance of choosing the right firm and work environment.
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Show highlights include:
*A breakdown of Dan Sullivan’s Top 10 habits whichblend both personal growth and professional success.
*Why, as a business owner, carving out quiet moments for oneself isn't just a luxury; it's a strategic necessity for clarity, creativity, and decision-making.
*Elevating the client experience across all interactions to cement loyalty, foster referrals, and ultimately drive business growth.
*An explanation of the Pareto Principle and how it pertains to financial advisors.
Diving deep into these foundational elements can empower business owners and financial advisors to not only reach but exceed their goals. Walk away from this episode with insights that you can implement into your own life and business to experience the success you have not only sought but deserve!
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Key takeaways from today’s episode include:
*The critical distinction between managing and leading employees.*How to align employee performance with your company’s core values.*Best practices for providing training and development tools to your team.*Why marketing and branding are key to sustained growth.*The role of personal growth in becoming a better leader for your employees.Join Frank and Stacey as they break down practical steps for maintaining a successful firm beyond your initial transition. From fee structures and pricing to strengthening client relationships, this episode covers what it takes to manage and lead a business effectively. Listen now to discover how their leadership and storytelling approach is transforming the financial services industry- and how you can do the same.
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Today’s show highlights include:
*Distinguishing between inflated numbers and the genuine value of a practice in order to achieve leverage in negotiations.
*A breakdown of the factors that matter and make an impact on the value of a practice.
*The importance of understanding the value proposition of the buyer, both culturally and economically, to determine if it is a right fit.
*How true value extends beyond monetary figures and not allowing money to be the primary influencer when making a life-changing decision.
*An explanation of how there will never be that one “perfect” deal; and instead, discovering perfect deals that fit into what you are truly trying to accomplish for long-term success.
Today’s discussion between Frank, Stacey, and Vince takes a long-term perspective on business valuation, emphasizing the serious endeavor that is buying and/or selling a practice. Understanding the factors that impact valuation in the RIA space is crucial, as is discerning between what price is realistic and what isn't. With careful planning, open conversations, and genuine understanding, both parties involved can maximize the potential success of M&A transactions.
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Today’s show highlights include:
*The benefits of working with a professional consultant, and why it’s crucial specifically for financial advisors.
*The extensive research involved in identifying the right firms and how professionals streamline this process.
*The time constraints advisors face and how consultants help manage research and client care.
*Insights on the diverse firms available and finding the perfect match for each advisor.
*The value of experience and how consultants bring knowledge from working with similar clients.
*The importance of taking emotions out of client decisions to help them succeed.
Join Frank and Stacey as they explore the “how” and “why” of partnering with a professional consultant, ensuring you have the knowledge and support to thrive in the financial services industry. Learn how their expertise can simplify your process, allowing you to focus on what you do best while they handle the complexities of the marketplace.
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Today's show highlights include:
*Why taking private equity money might not be the right decision for you and your firm.
*The emotions involved in deciding on a successor who will acquire your business.
*How selling your practice to a private equity firm could be a risk to your company's culture and employees.
*The benefits of finding a successor internally within your organization.
*How growing your business can be more profitable down the line than selling to a private equity firm.
Join Frank and Stacey as they unpack the realities of private equity deals, emphasizing the importance of maintaining control over your firm's culture and the well-being of your employees. Through candid discussions and personal insights, they illustrate the potential pitfalls of PE funding, such as the loss of control and the challenges of replicating your unique business model. They also highlight the long-term benefits of internal succession and organic growth, offering practical advice on how to protect and enhance the legacy of your firm. Don't miss this thought-provoking episode that provides a comprehensive look at the critical decisions advisors face when planning for the future.
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Today’s show highlights include:
How predictability can lead to the downfall of your business.
The crucial role of modifying your brand, website, logo, and mission statement as your company grows.
Practical tips for analyzing every aspect of your business and identifying KPIs for change.
Why adaptability is essential for entrepreneurs to succeed.
Listen now to hear Frank and Stacey share their insights on reshaping your company’s vision, crafting a strong mission statement, and continuously improving your processes. Complacency can be detrimental to your business- learn how to stay ahead of it and ensure your company is always evolving for success.
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Today’s show highlights include:
How complacency creates a cycle that stops your business from advancing.The hidden dangers of working for a “neutral” firm and how it can limit your success.A growing trend of firms driving a wedge between financial advisors and their clients.Why the advisor-client relationship holds more value than the firm-client relationship.Tune in as Frank and Stacey dissect how complacency impacts advisors, their firms, and their clients. They provide meaningful insights on why a firm switch might be the key to sparking your growth and offer practical tips on guiding your clients through this transition. This is a can’t-miss episode for financial advisors who feel stuck and are eager to elevate their business to new heights.
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Today’s show highlights include:
Why forward-thinking is a must-have skill for financial advisors.The unexpected financial insights we can learn from hip hop stars.How leveraging Instagram and TikTok can drive engagement with younger audiences.The nuances of entrepreneurship that are often overlooked.How creative marketing techniques can make finance more approachable for potential clients.Join Frank and Drew as they share the insights and strategies that have led to their successes in an industry that has evolved significantly over the past two decades. They offer valuable advice on forging genuine client connections, utilizing unique social media tactics, and finding the balance between maintaining control and adapting to change. This episode is a must-listen for business leaders and financial advisors aiming to distinguish themselves from the competition and integrate creativity into their practices.
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Today’s show highlights include:
Why recording video content is becoming more accessible for financial advisors.The significance of having various digital touchpoints for client engagement.Addressing why in-person events are a growing trend in financial services.The benefits and pitfalls of using AI for visual versus written content.How prospects meet your online presence before they meet you.While social media can be a powerful tool to acquire new clients, it’s essential to use it correctly and effectively. Join Frank and Tina as they dive into the best digital practices and explain how utilizing online platforms cohesively can enhance your overall marketing and image.
If you’re interested in learning more about how Elite Marketing Concepts can help you build brand recognition and drive better results, you can reach out at [email protected] or visit elitemarketingconcepts.com.
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Today's show highlights include:
*The distinction between working on your business versus working in your business and why both are crucial.
*How quarterly check-ins can effectively keep your business aligned with its goals and drive continuous improvement.
*Strategies for leaders to encourage growth by challenging employees and embracing discomfort as a catalyst for success.
*The role of both internal and external mission statements in guiding your organization's direction and culture.
*Tips for continuously modifying and fine-tuning successful processes to achieve even greater results.
Join Frank and Stacey as they share insightful discussions and personal experiences that underscore the importance of proactive business management and leadership. They provide practical advice on evaluating daily operations, implementing strategic changes, and fostering an environment where employees are motivated to grow and excel. This episode offers valuable takeaways for business leaders and advisors looking to elevate their practice and achieve long-term success through deliberate and thoughtful business strategies.
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Today’s show highlights include:
*Reevaluating the traditional 9 to 5 work week, and how one must begin to acknowledge that their goals will only be achievable if they put in the extra effort that is required.
*A discussion on why the adage "actions speak louder than words" holds true in achieving success and making a meaningful impact in the financial services industry.
*The massive opportunities and wealth that are available to advisors if they are willing to work for it.
*The importance of avoiding complacency and seizing new opportunities.
*A breakdown of what more success, and therefore more money could truly mean for your business.
Today’s conversation between Frank and Stacey dives deep into the mindset required for sustained success in the financial services industry as an advisor. Throughout the episode, Frank and Stacey inspire listeners to adopt a growth-oriented mindset, urging them to reflect on their work ethic and commitment to excellence. Their engaging discussion leaves no doubt that hard work, perseverance, and a proactive approach are essential ingredients for achieving extraordinary results in the financial services world. Listeners can walk away from this Hot Mic episode with the tools required to take their books of business to unprecedented heights.
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Today’s show highlights include:
*The impact of ongoing acquisitions on independent financial advisors' sense of control over their businesses.
*Strategies and advice for advisors feeling disempowered by decisions made for their businesses.
*Recognition of the enduring value and strengths of smaller independent firms amidst the acquisition trend.
*Essential questions advisors must answer objectively before considering a move.
*The critical importance of removing emotional influences from decision-making during the transition process.
Today’s conversation between Frank and Stacey offers a comprehensive exploration of the challenges and opportunities facing independent financial advisors amidst a landscape marked by widespread acquisition activity. Through their insights, listeners gain invaluable strategies for maintaining control over their businesses, navigating the complexities of acquisitions, and making informed decisions to safeguard their independence. With practical advice and actionable takeaways, this episode equips advisors with the tools they need to thrive in an evolving industry landscape, empowering them to secure their autonomy and drive their businesses forward with confidence.
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Today’s show highlights include:
*An overview of common misconceptions of RIAs that advisors have when they want to create one.
*What the nationwide trend of more advisors wanting independence means for the RIA space as a whole.
*The difference between a state registered RIA and an SEC registered RIA.
*What an advisor really means when they say “I want to go RIA”.
*The differences between an RIA and a Hybrid RIA.
Join Frank and Vince as they demystify the journey to becoming an RIA while exploring the growing demand for advisor independence. Through this episode, you’ll gain valuable insights into what it truly means for an advisor to embrace the RIA model and understand the nuances between different RIA structures.
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Today's show highlights include:
Understanding the narrow differences among top broker-dealers in today’s market.
Why embracing transition money can be a strategic move when switching firms.
The rationale behind the larger transition deals being offered now more than ever.
How to balance culture, technology, compliance, and economics when making a move.
Frank and Stacey both bring their extensive industry experience to the table, offering valuable insights into the current state of broker-dealer transitions. They discuss the slim disparities among traditional top broker-dealers and why firms are currently offering unprecedented amounts of transition money. This episode highlights the importance of not being bashful about the economic factors in your decision, especially when it can lead to life-changing opportunities.
Join Frank and Stacey as they provide a comprehensive overview of the key considerations advisors must weigh when deciding to transition to a new firm. This episode offers a blend of strategic advice and industry insights, making it a must-listen for any advisor thinking about making a move.
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Today's show highlights include:
*Why taking private equity money might not be the right decision for you and your firm.
*The emotions involved in deciding on a successor who will acquire your business.
*How selling your practice to a private equity firm could be a risk to your company's culture and employees.
*The benefits of finding a successor internally within your organization.
*How growing your business can be more profitable down the line than selling to a private equity firm.
Join Frank and Stacey as they unpack the realities of private equity deals, emphasizing the importance of maintaining control over your firm's culture and the well-being of your employees. Through candid discussions and personal insights, they illustrate the potential pitfalls of PE funding, such as the loss of control and the challenges of replicating your unique business model. They also highlight the long-term benefits of internal succession and organic growth, offering practical advice on how to protect and enhance the legacy of your firm. Don't miss this thought-provoking episode that provides a comprehensive look at the critical decisions advisors face when planning for the future.
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Today’s show highlights include:
*The justification behind why KPI's are so important when it comes to having a successful practice.
*Why there is no one KPI that applies to every practice. Every business should judge their success with different metrics.
*What Frank and Stacey mean when they say that KPI's are the “Crystal Ball” for your business.
*How KPI's can translate into any business, not just financial advisory practices.
Today’s conversation between Frank and Stacey breaks down the transformative role of KPI's within business management. Frank and Stacey emphasize that KPI's are not just metrics; they are strategic tools that empower businesses to navigate uncertainty and drive success. By carefully selecting and monitoring KPI's, businesses can gain invaluable insights into performance trends, customer behavior, and operational efficiency. Listeners can walk away from this episode with a profound understanding of how KPI's can revolutionize their approach to business management. By grasping the versatility and significance of KPI's, they are equipped to implement tailored metrics that align with their unique goals and objectives.
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