Show cover of The Profitable Advisor Podcast

The Profitable Advisor Podcast

Every month, million dollar fee-based financial advisor Dan Cuprill shares ideas and strategies on how build profit-driven planning practices. For more information, visit www.ProfitableAdvisor.com.

Tracks

How to Buy and Sell a Financial Advisory Practice
Today we want to get into something that’s been a big part of our practice and should be an excellent opportunity for advisors in the future, especially if you’re in your 30s or 40s. What we’re talking about in this episode is buying a practice, which we believe is the quickest way to have instant revenue. But it’s not without problems, which we will also discuss. So we’re going to share with you how the process works and breakdown our approach to buying another practice. There are plenty of financial considerations to sort through and weigh, and this episode will give you an idea of what we’re paying the most attention to. We want to provide you some insights because we’ve been involved in a number of these as the acquirer but we’ll eventually be on the other side as the seller.   Here’s some of what we discuss in this episode: Why buying another practice can create a great opportunity and could do so without a lot of risk. How you should structure the deal. What should you pay attention to when you’re acquiring a book of business.   Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net  
16:51 5/1/24
What Do You Do When You’re Ready to Leave
Are you a financial advisor dreaming of the day you can step back from the daily hustle and still ensure your practice prospers? Succession planning can be a challenge for advisors because few of us can really articulate what it is that we do on a daily basis that would allow someone to run the operation for us, and that makes it hard to step away.  This is something I’ve had to do recently with my son, Wes, and we’ve identified seven areas that he has to be a master in before the torch can be passed effectively. That’s what we want to share with you in this episode. Let’s go through these seven things you need to do if you’re thinking about life after your business and hopefully shed some light on an area of planning that will be useful.   Here are some of the things we will discuss: Know your numbers What you need to know about each of your clients. Understand staffing and what your business requires. Have a marketing system in place. Your replacement needs to be trained and knowledgeable. Understand the requirements for compliance. Have a strong knowledge of your partner companies.   Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net    
18:51 4/1/24
Is Fear Holding You Back?
Fear is a very powerful emotion and it can hold us back from reaching our potential personally and professionally. I started thinking a lot more about this after a trip to Arkansas where I spent some time with business partners to share ideas on growth. That’s why I invited Nina Cooke, author of Renegade Mindset, back to the show to help us work through this issue that plagues so many advisors and business owners. Fear can be a formidable foe and Nina has helped many people overcome these barriers to find success. We’ll dissect the roots of fear of failure and aim to arm you with the mindset needed to make bolder, more informed decisions.   Here’s some of what we discuss in this episode: Why fear becomes such an easy excuse for business owners. Every advisor has to work through mistakes and failures to achieve success. How do we help people overcome this fear of failure? Are you going to be content by not trying new things and stepping outside of your comfort zone?   Get Nina's Book:  https://www.ninacooke.co.uk/ http://ninabook.org/   Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net  
32:44 3/1/24
Why I Hate Riskalyze
The very nature of the weather has always been like an investment portfolio in terms of unpredictability, and all the cold weather we’ve been dealing with to start 2024 has us thing about that. You could very easily use the weather to explain how a client’s portfolio is going to work over time and how you can prepare for that. That’s the basis of today’s discussion, which is about a habit that many advisors have. They sell off their software using products like Riskalyze, which seems to work very well up front but presents challenges with long-term retention. I’ve been asked why I don’t use software like this so I want to provide you some insights on that in this episode.   Here’s some of what we discuss in this episode: Why I have a problem with risk tolerance questionnaires. The problem that you face when using these programs to match their portfolio to risk tolerance. How we suggest approaching portfolio management and the conversations with clients about why you’re building it that way. The price for the upward is the occasional negative.   Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net    
11:52 2/1/24
Beyond the Resolutions
As we turn the page on another new year, we hope you are excited about the start 2024 and focusing on hitting new milestones in your practice. Now, we know that people like making resolutions to start January, but resolutions are a bit silly when you think about it. If you want to make improvements personally or professionally, why wait for a new year to begin. But we all go through these exercises and the results are almost always the same. Unless you truly want to make a change in your life, you’ll abandon these resolutions each and every time. The reason so many people fail to accomplish their resolutions is they don’t truly want change. So let’s talk about some things you can do to make your life better, not just this year, but every year moving forward. We’ll share our own ideas and experiences that can hopefully help you both personally and professionally in 2024 and beyond.   Here’s some of what we discuss in this episode: Where Dan stands on faith and how he’s changed drastically through his life. Small steps you can take to improve your life each day as it relates to faith. Fitness tips that Dan has applied to his life that are easy to incorporate into yours. Develop a profit-based model to grow revenue and help you achieve the lifestyle you want. Focusing on niches, technology, staffing, and entrepreneurship for your business.   Schedule a meeting with Dan: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net    
29:50 1/4/24
Why You Should Be Marketing to Women
Women are different than men and what they value is different as well. That’s particularly true when it comes to financial services. For a long time, our industry has done a poor job at addressing the needs of women and have catered to men (and still do to a large extent). What can you do to change that and become an effective marketer to women? Let’s talk about target marketing and developing your strategy around a certain audience. It’s not earth-shattering to hear that it works, but enough people don’t do it well and we want to help you change that. We’ve discussed the reasons for focusing on a specific niche with your financial business, and women can and probably should be a priority for you. Women are positioned very well to benefit from the massive transfer of wealth that is happening with the Baby Boomer generation and will need help with managing that money. Many of these women will change advisors and move away from the person their husband had been working with to someone they’re more comfortable with. So let’s talk about how to make sure you’re marketing to women effectively and growing your business around this critical demographic.   Here’s some of what we discuss in this episode: Why financial success often causes relationships in a family to deteriorate. Why we feel marketing to women is more important than ever. The different types of marketing mediums you should lean into. Should you still be doing seminars along with webinars? Have a story that people can connect to.   Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net  
20:46 12/1/23
What Happens When Cash Is Paying 5%?
Today we’re going to dive into a common dilemma faced by many financial advisors. What should you do when clients notice that cash is outperforming their portfolios? Do you give in to temptation? Do you shift everything to a guaranteed fix like an annuity, park it in cash, or adopt a market-timing attitude? The choices are numerous, and the pressure is real. Listen in as we explore the complex terrain of client expectations, market unpredictability, and the timeless wisdom found in historical market patterns. Dan will share his approach to communicating openly with clients, acknowledging their concerns, and encouraging a long-term perspective.   Here’s some of what we discuss in this episode: What factors should financial advisors consider when deciding whether to recommend a shift to cash or other investment vehicles? How does age and risk tolerance play a role in determining the best course of action for clients? How can advisors communicate effectively with clients during periods of market volatility? While cash may outperform in the short term, abandoning equities or chasing returns is not a sustainable strategy.   Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
10:45 11/10/23
How to Best Serve the Women’s Market with Arwen Becker
As technology continues to improve and the next generations get more comfortable with doing their own planning, the financial advisor profession will likely begin to shrink in the coming years. That doesn’t mean there’s not a future in the industry, because those who remain standing will likely be very successful.    What it does mean, however, is that people will need a good reason to work with an advisor instead of doing it on their own, and that’s where finding a market niche comes into play. We continue to hammer home this message because of how strongly we feel about industry shift, and we’ve brought on guests with different specialties to find out how successful advisors are leaning into their niche.   Today’s guest has carved out an incredibly important focus, and that’s serving women more effectively. This is the largest segment of the population and women are set to inherit two-thirds of the $30 trillion being transferred by baby boomers. She educates financial professionals around the country on how tap into the women’s market and transform their practice, and she’s going to share a little of that wisdom with us in this episode.   Here’s some of what you’ll get out of this episode: You can’t become exceptional by being a generalist so you need to find your differentiator. How the decision to introduce women’s events in her business changed the entire trajectory of the company. Why many advisors struggle to market properly and build a connection with women. Why she feels like the first meeting is where you should focus on changing your approach to give women a different experience. When you serve women with intention, you’ll organically grow through referrals. The coaching program she’s put in place to benefit advisors and what she helps you with.   About our guest: https://lifewitharwen.com/ Take advantage of her free training: https://nextleveladvisors.co/becker-free-lessons/ Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
53:46 10/4/23
How To Get Referrals Without Even Asking For Them with Stacey Brown Randall
In this episode of the Profitable Advisor Podcast, Stacey Brown Randall, a renowned expert in generating business referrals, joins Dan to discuss the importance of generating referrals without directly asking for them. Stacey emphasizes the power of referrals and why a different approach is needed to cultivate them effectively. Throughout the episode, Stacey provides valuable insights on building a referral system and maintaining meaningful connections with referral sources. She emphasizes the need for personalization and gratitude, highlighting the significance of staying top of mind with referral sources throughout the year. Stacey also shares strategies for creating multiple touch points and engaging with referral sources to establish strong and lasting relationships. Financial advisors looking to grow their businesses will find Stacey's expertise invaluable in generating consistent business growth through referrals. By implementing the strategies and ideas discussed in this episode, advisors can leverage the power of referrals without directly asking for them, ultimately increasing their referrals and business success. Additional Key Points From This Episode of The Profitable Advisor: Uncover the benefits of focusing on unrequested referrals, exploring their potential to foster authenticity. Master the motivating factors behind common referrals, preparing you to harness these natural occurrences. Realize the risks associated with asking for referrals explicitly, illustrating how your professional image could be impacted. Learn to create a scientifically backed referral system that concentrates on trust, social interactions, and the principles of behavioral economics. Grasp the value of a methodical, tailored strategy in maintaining contact with referral sources and building powerful relationships. About Stacey: Stacey Brown Randall is an expert in the art of obtaining referrals without resorting to direct requests. As an author and speaker, she stands as a beacon for change in an industry where direct asking for referrals is often seen as the norm. Notably, she is behind the seminal work Generating Business Referrals Without Asking. This highly regarded book lays out a unique yet highly effective five-step process to build an explosion of referrals within any industry. Stacey’s Website: https://www.staceybrownrandall.com Stacey’s Book: https://www.amazon.com/Generating-Business-Referrals-Without-Asking/dp/1683509269   Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com  Read more and get additional financial resources here: https://www.advisorarchitect.com/
51:58 9/19/23
3 Mistakes That Financial Advisors Make
When you work with a number of advisors around the country, you get to see some of the common mistakes that people often make in this profession. As we spend time with some younger advisors, we’ve found that there are a few things that we keep pushing because of how important it is for the business.   Today we’re going to share these three key mistakes and explain why we feel so strongly about each of these strategies. We’ll talk about investment philosophies, having the conviction to ask for 100% of your client’s money, and picking a target niche like we’re shifting towards for our business.   If you aren’t doing each of these things, now is the time to start taking the steps to make it happen.   Here’s some of what you’ll get out of this episode: Why so many people fail to have a clear investment philosophy and why that hampers your success. Why you continue to focus your energy on getting 100% of the money from your client. Pick a target niche because the generalist is getting replaced more and more thanks to technology.   Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
18:19 8/1/23
The Secrets to Publishing Your Own Book with Mike Capuzzi
If you listen to this show enough or read a lot of what we write, you know that we believe strongly in advisors striving to be the go-to for their given niche. If you’re not doing that, you’re going to be competing against larger corporations with a lot more money, and they’re going to own the generalist market.    This is something that will continue to become a bigger and bigger issue, which is why we emphasize this time and time again. We’ve been rolling out guests on this show to get inside the minds of advisors who have found their niche and created a successful business around it.    We’re going to continue that theme today but the focus is starting off with a powerful piece of marketing material. We’re talking about writing a book, which might seem overwhelming to many. But our guest today, Mike Capuzzi, wrote a book that really changed the way we do things in our office a few years ago, and we’re going to discuss the process he’s mastered for helping business owners write short books designed to get customers.    Here’s some of what we’ll discuss on this episode: Mike’s background and how he started his consulting company and helping business owners publish. (5:15) Why having a book is so important for growth and long-term success. (9:16) How you need to structure a book. (13:02) Just writing the book isn’t the key to getting clients. This is…  (20:35) The strategy for marketing and utilizing the book. (24:41) Leveraging the power of other people’s clients. (32:42)   Get the Shook Magic Kit: https://mikecapuzzi.com/magic/ Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
45:09 7/1/23
Sex & Tech: How One Advisor Is Mastering The Art Of Niche Marketing
The centers of influence model for advisors is great in theory but we’ve found that it’s often a one-way referral relationship. The idea of going after accountants and CPAs to bolster your business isn’t as beneficial as you might believe. That’s why we’ve been strong proponents of finding a target market niche and becoming your own center of influence.    Whenever we’ve found someone who does this well, we’re quick to reach out to them and try to interview them to learn more about their process. That’s why we’re introducing you to Jessica Goedtel, CFP®, EA today. Don’t pay as much attention to her target groups because any niche can work. Instead, we want you to see the power of this approach and how she’s done it so well in a virtual environment.    Here’s some of what we’ll discuss on this episode:    How she decided to target legal sex workers.  (3:17) How she uses her niches to drive more business. (5:37) The way she separates herself from other advisors. (8:53) What are the planning needs for the sex worker? (9:13) Her appointment process for virtual meetings. (19:40) The fee structure she uses for her planning business.  (22:56) What criteria is good to use to identify a niche that might work for your business?  (26:00) Why she felt it was important to be very niche oriented?  (32:19)   About our guest: https://www.pavilionfp.com/ Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net        
37:56 6/1/23
The Science of Changing Habits
If you’re like us, there are things you do that you really wish you did differently. This manifests itself all different forms - diet, exercise, the amount of reading you do, or the changes in your practice you just can’t get around to doing. For whatever reason, these things are difficult to stop. As the old saying goes, “Old habits die hard.” But there is a science to changing your ways and breaking those habits you’ve fought to get rid of. Today, Dan wants to share his personal experience following a very specific behavioral technique and the success he’s seen because of it. This is something we’ve used with clients over the years and want to share it with you in this episode.   Here some of what you'll learn in this episode:  The story behind why Dan wanted to change a habit with wine and alcohol. (1:32) The app used to help plan out the week and encourages accountability.  (3:46) Applying this approach to other habits you want to change.  (8:34) How to implement changes in your practice.  (9:56)     Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
14:56 5/1/23
The 3 Biggest Questions You Should Ask a Prospect
We had the opportunity recently to buy a practice, which we encourage advisors to do because it’s a great way to grow your business. But you have to go into this process knowing it won’t be a 100% fit. When you inherit another advisor’s practice, you’ll be getting clients that might have been a great fit for the previous owner but not so much for you. Part of taking over the new practice is taking the time to get to know them to find out how you’ll be able to help them. Some people in that group might end up being ones that you don’t want to work with long term, and you need to make those decisions. So how do you figure out if someone is a good fit for your practice? We’ve put together a short list of questions you should be asking every new prospect to determine whether or not you want to bring them on. The answers to these questions will help you identify some possible red flags that could come up down the road. By asking these now, you can filter out the clients that might not be ideal for your business and continue maximizing your growth and having the balance you strive for.   Here are the questions we’ll discuss in this episode: Why do you feel you need an advisor? (3:01) What are you going to do the next time the market or your statements drop 15-20%? (6:38) What role do you want me to play in working with you? (8:25) Why these questions are so important for your business. (9:54)   Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
13:03 4/1/23
How to Become the Go-To Advisor for Your Niche
Today we want to address something that we feel very strongly about and that’s the future of our profession.  It’s time to start worrying about where we’re headed. We’re in a position much like Blockbuster was in 15 years ago. The world changes very rapidly and technology allows us to change the way we consume information and how we interact. If a business doesn’t evolve with the times, then it risks no longer being useful to consumers.    The reason financial advisors might be in jeopardy is that we don’t offer anything that someone can’t get online. We came across a stat recently that said 20% of people use a financial advisor, which isn’t surprising because you don’t have to go through an advisor to build a financial plan like you had to decades ago.  So what does this mean for the future? We still believe strongly that there will be financial advisors 30 years from now and the ones that remain will be very successful. In order to survive, you have to counter automation by becoming a specialist. The best type of specialization is finding a sector in the marketplace to zero in on.    In this episode, we’ll give you some simple strategies to accomplish this along with telling you how we’re going to help three advisors become specialists this year.   Here’s some of what we’ll discuss on this episode: • Why I feel so strongly about dogs.  (1:10) • Why Dan is worried about the future of the profession. (4:57) • What will it take to survive in the financial industry? (6:59) • What do you need to learn about your specialty? (12:58) • How do you position yourself to be the expert for that profession? (14:11) • What to do if you’d like to be considered as one of three advisors we help accomplish this.  (16:59)   Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
19:20 3/1/23
Inflation: A Financial Advisor’s Best Friend
Have you ever heard the political phrase, “Never let a good crisis go to waste?” That’s probably been attributed to a few different politicians through the years, but the underlying message is still the same. In a much more benign sense, a financial advisor can also take advantage of a crisis to market their services. When things get uneasy, people are looking for help putting their mind at ease. We know that emotions often drive decisions and inflation is a driver of emotion. That’s why inflation is providing advisors with the perfect opportunity to motivate people to act. For many years, retirees have been able to ignore inflation with their investment decisions. Now that inflation is up over 6%, you should be using this as the message to make sure people understand it could cause a retiree to run out of money if not prepared. If you aren’t sure how to capitalize on this moment, listen to the podcast today to get some direction. We’re also happy to sit down and discuss it with you directly if you want to book a chat.     Here’s some of what we’ll discuss on this episode: We see examples of how using a crisis for gain frequently. (1:10) Why inflation is the crisis financial advisors can find an opportunity in. (5:13) Most people aren’t taking inflation consideration into account when they first meet with an advisor. (5:25) What history has taught us about the government and inflation. (10:55)   Schedule a meeting with Dan: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
13:20 2/1/23
5 Ways to Elevate Your Business in 2023
As we begin another new year, it’s natural to start thinking about goal-setting and ways that we can improve the business in 2023. Even if you don’t really care much for resolutions, putting some steps in place will allow you to measure and track your progress.   We spent some time in recent weeks looking ahead to the new year and thinking about the areas of importance, and we’ll use this episode to share five useful action items that we will implement or have already implemented to help elevate your business in the new year.   Here’s some of what we’ll discuss on this episode: Why you should improve your wardrobe and how to do it. (2:28) Start creating personal and business budgets for yourself. (5:13) Nurture your prospects by communicating regularly. (7:53) Re-evaluate who you’re working with and fire a client if you need to. (9:13) Find your niche this year so you can position yourself to become THE advisor in that niche. (10:36)     Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
13:36 1/1/23
Keys to Sales Success with Dan Solin
As financial advisors, a lot of us don’t like to think of ourselves as someone who works in sales. But if you own any business, then you are in sales because without customers, you don’t get to do what you do. What we’ve learned through the years about sales is that what makes it work well is having a system, and we’ve tried many different types. Maybe the simplest system we’ve come across is the one by Dan Solin. Today we’re going to share a conversation we had with Dan which focused on his book Ask: How to Relate to Anyone. This interview is one we feel is mind-altering and can provide you with a great perspective on what it takes to be successful selling your business to clients. Here’s some of what we’ll discuss on this episode: What’s the easiest way to get somebody to like you? (3:57) The distinctions between introverts and extroverts and how it affects sales. (5:47) What’s the best way to approach introverts and not waste time? (6:07) Why it’s important to understand attention spans during the sales process. (17:03) Why you need to move away from being the most interesting person in the room to becoming the most interested person in the room. (24:14)   Learn more about our guest: https://danielsolin.com/  Get Dan's Book: https://www.amazon.com/Ask-Relate-Daniel-R-Solin/dp/0974876321    Schedule a meeting with Dan Cuprill: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
33:51 12/1/22
5 Ways to Guarantee You Hit Your Profit Goals in 2023
It’s that time of the year when you should start thinking about plans for the new year, but trying to set goals for an entire year isn’t the best approach. When you set goals for a year, it’s very easy to forget about them over the course of 12 months. But if you can break that down into three-month periods, it becomes much easier to track and you’ll find it will stay top-of-mind. Today we’ll share our approach to planning that we’ve found helps ensure we always hit our profit goal. We’ve been big believers for some time that established advisors should be setting profit goals instead of revenue goals because profitability is what we’re aiming for. So to help you hit those goals in 2023, we’ll give you five action steps for the new year. Here’s some of what we’ll discuss on this episode: Start the first quarter of the year by creating a budget. (2:10) Adopt the profit-first methodology. (4:28) Why you should charge fees in 2023? (6:07) Focus on managing all the assets for your client. (8:49) Improving the first impression you make. (10:08)   Schedule a meeting with Dan: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
14:53 11/1/22
When Is It Time to Fire a Client?
So much of our efforts as financial advisors are focused around getting new clients. From marketing to selling, you have to be able to attract clients to have a business so it is an integral part of what we do. Sometimes, though, we make it so important that we’re willing to put up with a difficult relationship just to maintain a client. At some point, we have to make some tough decisions like when is it no longer worth it? No one wants to lose money, but there comes a point where the revenue you’re receiving pales in comparison to the grief you’re having to put up with. Today we’ll explain the situations where we determine it’s best to end a relationship with a client and why you should be considering doing the same. Here’s some of what you’ll learn on this episode: The first reason we would fire a client is when they fail to follow the plan. (3:10) Why unrealistic expectations might lead to you being fired so is it best to take that action first? (7:07) Clients are occasionally just bad people and not worth the time. (8:48) How do make up for the lost business when you fire a client? (10:54)   Schedule a meeting with Dan: http://bookachatwithdan.com  Read more and get additional financial resources here: http://renegadeadvisor.net  
15:44 10/1/22
Why Don't You Have Enough Assets Under Management?
We were talking with an advisor who's in our program recently and the topic of assets under management came up because he felt stuck on a rather modest number. So it got us thinking about this issue and what keeps an advisor from the growth that they want to see. It's not your marketing that's driving whether you have a lot of AUM or annuity sales. It's you who drives and we'll explain why that is on the show.  Here's some of what you'll learn on this episode: Why you get what your business is set up to get. (2:06) Your client doesn't care about products. They want solutions. (2:58) An example of an advisor who shifted to stocks and bonds over annuities and insurance. (3:45) Why YOU drive your business, not your customer or marketing. (6:19) Making the transition in your business to improve lifestyle. (8:37)   Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net 
10:47 9/1/22
Save the Free Food for Those Who Actually Need It
Wanted to do everything he could on his bucket list during his 60s because he didn't think he'd have the energy and ability to do as much in his 70s based on what he had seen from family and friends.  This is why we like to push advisors to build their business in an entrepreneurial way so that the day-to-day still rolls along while you get a chance to enjoy your life and check off some of these items.  Now, as we talk about ways to build the business, we want to shift our focus now to live events as a marketing tool. With the world going back to a relatively normal routine after the pandemic shutdowns and slowdowns, the opportunity to get back in front of people is front and center again.  We have put together a list of eight rules, that if you follow, will make you a very successful marketer when it comes to live events. In this episode, we'll share a few of them with you and explain why they work.  If you want to get all eight rules, subscribe to our newsletter and we'll send them out to you this month.    Today's Key Points: 0:39 - What a client told us years ago that still resonates 1:37 - Dan's 'bucket list' goals 3:58 - Post-pandemic marketing 6:41 - Create your own list of prospects 9:56 - Ways to build your list 14:24 - Always charge to attend your workshop  17:15 - Be honest 18:58 - Final thoughts   Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net 
21:04 8/1/22
What To Do When The Client Won't Let You Manage Their Money?
Have you ever had someone show up at your office to get your advice? They might even be willing to pay for advice. But that same person isn't willing to let you manage their money because they feel like it's something they can tackle on their own.  If you haven't experienced this yet, you likely will soon because it's becoming more common. With more and more information available, it has become easier to do on your own so it's important that advisors adjust to these changes happening in the financial world.  So how do you remain profitable by only providing advice? The key to long-term profitability is recurring revenue, but how do you do that if you aren't managing investments?  Let's explore this question and discuss the optimal service to provide these prospects.    Today's Key Points: 1:58 - Adjusting to the changes in the world 4:08 - What's the optimal service? 5:33 - The fee charged 7:57 - The planning process and expectations 11:34 - Providing value every quarter   Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net  
14:18 7/1/22
What to Tell Clients When the Market Tanks
Nearly every investor has some amount of exsposure to the stock market, and that likely means clients have questions when things start to drag. That's to be expected in this current investing environment so what should you be telling people that want to know how to react? On this episode of the Profitable Advisor, Dan will tell you how he approaches the conversation with clients and what key points he likes to get across to those that are worried. If history is any guide, we'll find our ways to navigate these choppy waters. We always have and we always will, but that doesn't mean there's not some pain and discomfort along the way. The number one concern we have as advisors is protecting clients. Sure, there might be negative returns that happen year to year. But what we're worried about is making sure you don't run out of money in retirement and the returns in the short-term aren't a big deal in the grand scheme of things. If you struggle at all with having these conversations or just want to hear how other advisors handle bad markets, check out this episode and keep an ear out for the key points below.   Today's Key Points: 1:33 - What we're talking about today 2:54 - Market declines aren't bad news 5:22 - Markets are not linear 7:21 - Already factored into planning 8:47 - Discomfort in early stages 10:34 - This is normal 12:44 - So what?      Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net 
16:28 6/1/22
The Easiest Way to Write a Book
One of the hardest things to is actually one of the easiest. Sounds strange, right? Today we'll talk all about writing a book, which can seem like an overwhelming task for a financial advisor. We hear from people all the time that want to do it but have no idea where to start. This show will change that. We won't get into the mechanics of publishing a book on this episode. Instead, we'll focus on what the book should say and why it's so easy to do. We're going to take you through the outline for doing this so make sure you take notes along the way. You'll want to reference this later when you sit down to start your book.  Since learning the process we'll share today, we've written four books including an entire book on a single airplane flight. So settle in, grab your notepad, and let's get started.    Today's Key Points: 1:40 - The goal for this episode 3:47 - Cover and title 7:49 - Add an offer 9:45 - Testimonial page 10:20 - Next sections 11:12 - Forward page and who should read book 12:20 - My promise to you 12:53 - Introduction 14:36 - The chapters 17:10 - Sales section 19:38 - Final thoughts   Read more and get additional financial resources here: http://renegadeadvisor.net   Schedule a meeting with Dan: http://bookachatwithdan.com 
22:12 5/1/22
Managing All of Your Client’s Money
The goal for every advisor should be to manage 100% of your client’s money but that might seem easier said than done. The truth is that having the right approach with prospects makes it a logical decision to place all of their confidence in the work you do. On this episode, Dan will share his process for meeting with clients and setting expectations. This ‘co-design’ approach doesn’t just provide prospects with a clear understanding of your planning philosophy, but it also helps them see why it also makes the most sense for their retirement. We’ll also share the five areas that you’ll want to make a part of that co-design process. Hopefully by the end of the show, you’ll have a clear vision for how to achieve this goal of managing 100% of your client’s money. If you have any questions, you can get on Dan’s calendar by visiting BookaChatWithDan.com. So as you go through the episode today, keep an ear out for some of these topics that we cover: Why you don’t have to work with more affluent clients. Explaining what we mean by requiring your clients to put all their money with you. What you should ask your clients before they even begin working with you. The ‘co-design’ process and how to explain that it’s illogical to not have all of your money with one advisor. The five areas that you want to take the co-design approach with a client. Why you need to be a holistic advisor to get 100% of the money. What your marketing plan should be for this year. For more on this topic and other strategies to growing your business, join us over at AdvisorArchitect.com   Here is today's show rundown: 0:45 – Equity markets responding to major events 1:45 – Affluent clients 3:22 – What I mean by ‘require’ 100% of money 5:41 – Show them why it’s illogical to not have you manage it all 9:18 – 5 areas to co-design with a client 10:18 – Talking with your client 13:34 – Holistic advisor 14:30 – Your marketing plan for this year 15:32 – Tools you need  
18:03 4/1/22
The Pilot Advisor’s Business Taking Off
Today we want to spotlight one of the first people to enroll in the Renegade Advisor program. Not because of that early relationship but because he’s incorporated many of the strategies we talk about and his success is taking off. Ryan Fleming, MBA, RICP, CRPC has an incredible story as a former college football player and graduate of the Air Force Academy. He identified this niche and went all in on working with pilots. The business was profitable early on but the real growth came when he began trusting the marketing strategies we discuss all the time. We asked him to join the podcast to share his journey as an advisor. Along the way, we expect you’ll pick up a few things that you can use in your own practice. So as you go through the episode today, keep an ear out for some of these topics that we cover: How he started reaching out to pilots and carving out this niche. His marketing systems and when it all started to click. What ways is he marketing his kit to pilots? The main things that held him back early on Uncovering landmines with prospects and how Ryan stays rigid to his approach as an advisor. Keeping the emotion out of your meetings with prospects. Generating referrals after taking a more holistic approach. For more on this topic and other strategies to growing your business, join us over at AdvisorArchitect.com   What we discuss in this episode:  0:45 –Background on our guest   2:10 – His credentials 3:38 – Decision to work with pilots 5:30 – Spending money to market 9:38 – Two things that held him back 12:00 – His rigid approach as an advisor 16:57 – A more holistic approach 19:38 – Writing a book 22:40 – Client appreciation event    25:22 – Growth 28:37 – Recapping everything we’ve discussed
33:33 3/1/22
The Financial Advisor Hall of Fame
It’s that time of the year when vendors are having their meetings and that means you need to understand what you’re walking into. The vendors want your business and they will do what it takes to keep you on board. Since they’re essentially in the commodity business, they have to come up with reasons to convince you otherwise. One of the ways they do this is to create a Financial Advisor Hall of Fame to provide you with perks and highlight the work you do. This can and should feel great, but it’s a tactic they will use to keep you locked up and make you keep pushing for these benefits. But it doesn’t always make sense to keep pushing to grow and chase this hall of fame when it comes down to the bottomline of your business. And that’s what it’s all about, right? So as you go through the episode today, keep an ear out for some of these topics that we cover: What really is vendor? The ways in which they can try to convince you can be cultish. Vendors creating a hall of fame to entice you. Be aware of this tactic. Why adding to your team and bringing on more staff doesn’t always mean more money. Hear about four Renegade Advisor members that had great success and how they did it. Understand what’s at play when you go to these vendor meetings. For more on this topic and other strategies to grow your business, join us over at AdvisorArchitect.com.   Show rundown:  0:55 – Vendor meetings 2:21 – Cultish behavior 4:22 – Financial Advisor Hall of Fame 6:08 – We’re running a business 7:37 – Four successful Renegade Advisors members 12:16 – Is it worth the time commitment
15:58 2/1/22
Do You Need a Coach?
With the new year beginning, we hope you are as excited about the future of your business and what you hope to accomplish. With 2022 arriving, we’re always looking for ways to improve ourselves and our bottom lines, and that’s why we choose today’s topic.    Financial advisors are often wondering whether or not they should get a coach. Will it really help elevate your business? Can you see the impact? Let’s talk about that question and work through why it could be a tremendous business development investment. Coaches make an impact on many different aspects of life and finance is no different so if this is something you’ve been considering, you’ll want to hear today’s show. Find out what you’re looking for, what makes a successful program, and why coaches aren’t for everyone.   So as you go through the episode today, keep an ear out for some of these topics that we cover: Trying to accomplish all types of goals in life is achieved more often with the help of a coach. Why a coach isn’t the answer for every financial advisor. A coach should have experience and a background in the area you’re looking to get help with. Whatever you choose, it should have materials that allow you to work and learn on your own along with face-to-face meetings. Don’t bankrupt yourself paying for a program. Great programs should have stages that allow for beginners to experts   What we discuss in this episode: 0:55 – Finishing out 2021 2:45 – Do you need a coach? 4:40 – The primary motivator for having a coach 5:19 – Having a coach isn’t for everyone   7:10 – Your coach should have a background in the area you need help 9:40 – Necessary materials to learn on your own 12:44 – Find something affordable 14:03 – Stages to a program
16:52 1/1/22
Sleepy Joe - God’s Gift to Financial Advisors
We’re going to get a little political today but not in the way you would think. You might expect a show with criticism about judgment, but that’s not what this episode is about. The truth is the new administration in Washington D.C. has given financial advisors a lot of great opportunities to grow their business, and as a result, you should be ramping up your marketing efforts. Now, this isn’t a discussion about whether or not we agree with the current policies. It’s about leveraging the current environment to generate revenue for yourself. We’re going to use this episode to lay out a simple strategy for how to address the issues at hand and then provide a system to people that will help solve those problems. There’s a lot of fear and concern from Americans right now and proper planning can help ease many of those financial worries. That’s where you come in.   So as you go through the episode today, keep an ear out for some of these topics that we cover: The story behind the one and only Democrat that Dan has voted for. The reality of inflation and how to market around that issue. You want to appeal to what could be a worry or concern for your prospect. Why you should be talking about the news of the day. What questions you can ask at workshops Why you need to have a system in place For more on this topic and other strategies to grow your business, join us over at RenegadeAdvisor.net.   1:19 – Background on Dan’s political beliefs 3:29 – The marketing opportunities created by President Biden 4:14 – Inflation 5:42 – How to market around inflation 9:11 – Take advantage of the news of the day 12:19 – Questions to throw out at workshops   15:45 – Are you lacking a system? 17:56 – The takeaway from this topic
20:10 12/1/21