The Financial Life Coach Podcast

Damien discusses with Barry how the firm has grown to an £8M turnover professional services firm.
The two types of acquisition the firm have made.
How they joined forces with the Red House.
The lessons learned.
How selling the firm to an EOT has ticked so many boxes.

View Details

Damien Rylett - CEO- Brunel Capital Partners

@damienrylett

In this episode I speak to Damien about the acquisition his firm made in 2016.
We discuss the challenges he faced and overcame, what went well and what he would do differently next time.
We hear how the deal was valued and funded and how an SPA can be amended afterwards, to reflect the real world.

View Details

Rob Stevenson
kingmakersgroup.co.uk
@RobS_Kingmakers

We chat through the current market for buyers and sellers
We discuss traditional and new sources of funding for purchases
We touch on some of the challenges facing the profession in terms of retirement and demographics.
Rob shares his thoughts on the metrics being used to value financial advice businesses

View Details

Have a sneak peak into Season 3 of Financial Life Coach Podcast with Damien Rylett

View Details

David Hearne
Satis Wealth Management
@dontdelay

Hear why David decided to take the new Level 7 CFP
David tells us why he did it as well as why he is constantly becoming more qualified
David also shares his experiences of the exam and the work involved in his first submission

View Details

Jackie Lockie
Head of Financial Planning
CISI
‪@jacquelineloc15‬

We cover:

What is the new CFP?
What has changed?
Why it is a much better system now?
How FPTA will be supporting the case study?
Why the CFP is still the preeminent qualification world wide?
We talk about which cash flow modelling systems will work for the CFP the fact you need to be an expert user. If not, excel is still the best way to pass the exam.
How Steve sticks his foot in it within the first 2 minutes..

View Details

How he moved to a new area and started building connections and sources of new clients from scratch
Why culture is so important in a business
How he joined as a planner, is now a partner and is working on taking over the business.
Why he started a podcast focused on his local area
Why his advise to Steve is the poem “Do Not Go Gentle into That Good Night”, by Dylan Thomas

@A_rochalima

View Details

We cover: * What has changed in the last year? * What is still the same? * The power of the podcast to attract staff 😎 * What their plans are now * How lifelong learning is still the key to success * How change doesn’t happen quickly but by lots of small, incremental improvements.

@DomSpalding
@TheWealthExpert

View Details

Darren Cooke from Red Circle Financial Planning

why referrals are key in his business and 12% of his clients have already referred this year
why he has decided to keep his business at 100 clients and lets clients go in order to take new ones in
how he has managed to keep the business small with only a part time admin and an outsourced paraplanner supporting his office manager / wife
why he believes being passionate about people is key to being a good Financial Planner

@redcirclefp

View Details

Patti Dobrowolski - draw your future Magic Charts
Way of Life - wayoflifeapp.com app for new habits
Jojo Graham - https://jojograham.com social marketing coach
Emma Drew - https://emmadrew.info money blogger and website busting
Grace Lever - https://www.gracelever.com social media training
CRM - 17 hats
Anthea - First Knowledge. Helped with the video content for the Evergreen course.

@themoneypanel

View Details

Book recommendation: 'It doesn’t have to be crazy at work' by Jason Fried and David Hansson

Best piece of advice: It doesn’t need to be complicated to work or add value.

Listen how:

Old Mill are building a visual jigsaw puzzle for clients to measure progress towards their goals
How they are attempting to quantify and demonstrate their value and the benefits of financial planning
How they have built their own cash flow modelling tool
The resources they are dedicating to the change of back office systems

@OldMillAFP

View Details

We discuss why Natalie focuses on:

Trying to help
Her experience of seeing clients all the way through to a successful exit from their business
How to filter / interview other professionals
Why being inquisitive is crucial
How she uses her ‘10 things for the year’ approach

@Nwright_CFP

View Details

Nick and I discuss

Building an enterprise island
Why he is most proud of his team at Manse
Why he recommends that we all ‘leave our ego at the door’
Why new planners need to get really qualified as soon as possible

Nick is on Twitter: @nickcrabbe

View Details

Book recommendation - Factfulness by Dr Hans Rosling

Best piece of advice - Don’t be the professional footballer who didn’t make it.
Listen how First Wealth are building tools to help scale their business and deliver better outcomes for clients.
What they are doing this year to increase new enquiries.
How they have restructured their business so the owners can concentrate on what matters most.
How they are setting more achievable goals with clients to create a feeling of progress.
What matters most for you? See: https://firstwealth.co.uk/resources/lifegoals/

@AJVillis

View Details

Book recommendations:

Thinking Fast and Slow - Daniel Kahneman
Misbehaving - Richard Thaler

We learn how:

Alasdair is pushing forward a 40 year old firm on the tenets of pure financial planning, technical expertise and investment management.
About his plans to double turnover within 5 years.
How he is driving effiencies through the use of technology.
His tips for young aspiring financial planning business owners.

View Details

Damien Rylett interviews Barry Horner of Paradigm Norton

Attracting graduates with the right values and culture
How to measure staff happiness
How to retain staff with opportunity and a clearly defined career map
How the firm has used a Client Board to grow the firm and deliver a first class service
How the firm structures its team
How Barry only does what he can do (and enjoys it!)
The firm plans to have 2021 clients by 2021

@paradigmnorton

View Details

David and I discuss

How he moved his Lifestyle business to a “proper business”
The help he had from his management consultant son
The driver behind the decision
The two best decisions he has made along the way
We discuss some of the specific things he has implemented in the business
Most importantly we talk about how “The most important thing right now is what you want to achieve” permeates through his business

Book recommendations

Daniel Priestley - Key Person of Influence
Daniel Priestley - 24 Assets
Atul Gawande - The Checklist Manifesto

@davidcroziercfp

View Details

Jess and I discuss

How she transitioned from an IFA to a financial planning business owner
We discuss the challenges she faced with existing clients
She explains how she doubled her clients' fees from 0.5% to 1% per annum by showing them what she was now going to do for them
We discuss her evangelical approach and how it interacts with the pragmatism of a business owner
Finally, she tells me about the importance of believing in what you do

@browndogfp

Brown Dog Financial Planning

View Details

We discuss starting a business with no clients whatsoever.
Where his first client came from and how he has built a successful and growing small business.
We discuss the work he does for clients over the long term and give some examples of the enormous difference Clear Vision has made to the lives of those clients.
We also discuss whether those clients would have achieved those outcomes without a long term partnership with Clear Vision.

View Details

Year 1 done, lessons learned and what is to come.
How did they start in the first place?
Who won the arm wrestle?
How long did it take from startup to running at full speed?
What lessons are there for those thinking about start up?
How did a pub chat and napkin set the direction for the business.
What is Ikigai and why is that so important for clients?

@merichellis

View Details

When you shouldn’t try to compete with SJP and the banks
Why a failed startup was the best lesson
Why medium sized is the perfect size
Why taking longer to get paid results in getting paid more
Why the family tree is so important
Why you should listen to more podcasts
What advice he gave to Steve

@dontdelay

View Details

Why a client telling John, ‘I don’t know what I’m going to do’ after losing his job changed the direction of Expert for ever
The importance of understanding each other's life plans in driving the business forward
The importance of small, incremental improvements
The importance of great training
The importance of riding your bike if you want to get better at riding a bike!!
@DomSpalding
@TheWealthExpert

View Details

The longest podcast of the series but well worth it!
Why the business should generate enquiries, not a silver tongued salesperson
Why clients of KMD can be looked after by up to 10 members of the team at any one time.
Why the old model of the IFA is dead
Why quality is key
Why he still wonders if there is an easier way than the path that they are following

@kmdpwm

View Details

Fantastic advice to new firms, start-ups and potentially everyone!
What Craig did to generate clients from Penguin when it opened and what he would do if he had to start again now.
Why Craig is opening Penguin Legal and the Penguin Accountancy
The importance of external input
Why he loves MDRT
Why he recommends 'They ask, You answer – Marcus Sheridan'
Why their mission is: One life, live it well. The financial journey never ends.

View Details

Lee covers

Why he refers to the best in old, AUM, terminology but it’s a 100% modern Financial Planning business.
Why benchmarking is crucial both of investment performance and company performance
Why you should always ask: “Is there anything we should be doing for you that we aren’t?”
Why nothing else matters if you don’t work hard, really hard

View Details

Why you only need to be more comfortable with silence than one other person
Why advisers need to focus on their level of engagement with clients
Why you need to understand your own emotions before you can understand others
Why the 3 circle model is key to understanding family business owners
Why mentoring and / or counselling is his advice to Steve

@russhaworth

View Details

Why Neil would always address the burning issue first
‘Why tell me why you are here’, is the first question followed by, ‘tell me how you think we can help’
Listening with empathy is key
Why we mustn’t resolve issues in first meetings and we must just listen.
Who is Fortitude Freddie?
Why Neil believes that new entrants should get their own financial plan and that good financial behaviours need to be learnt and practiced.

@fortitude_neil

View Details

Why you should ask clients what they value and charge them for it
Why a knife is a good thing in a surgeon’s hand but not in that of a thief
How you can change behaviour by analysing eye movement
Why you must invest in yourself to grow
Why his opening question is: ‘can you tell me a bit about you’

@cherrypicklife

View Details

Benefits of financial education seminars
Why being Chartered and holding the Fellowship is important
Getting the most out of your CRM for workflows and time recording
Benefits of training your own (graduate programme)
Putting clients at the centre (flexible and bespoke)
Benefits of retainers over AUM model

@joeladamsFPFS

View Details

Be blunt, be honest
Why he doesn’t charge initial fee
Why we have to get better at expressing our value
All the value is in the financial plan and financial planning progress
Why Nick's advice to me is to stay curious

@hattipnick

View Details

How to focus resources on things that are important to you
Explore working with people who are confident in managing their own money
The importance of ongoing learning
Adding value with behavioural finance education

@PeteMatthew

View Details

What the future holds for Ruth, Red House and Paradigm Norton
Why Ruth is so excited about the future of Financial Planning
Why ‘What’s important to you about money?’ is her killer question
Why ‘Invest in yourself’ is her number one piece of advice
How Red House demonstrate their value and service to prospective clients.

@ruthsturkey

View Details

How adopting Financial Life Coaching approach has increased AUM from £50mill to £500 mill in 7 years
Why £500mill isn’t nearly enough and what the goal for Copper Parry wealth is now
Why Costa / Starbucks, a giant pink bull and a running track creates perfect environment for clients and staff
Why 80/20 is the flexibility provided to planners and that the flexing is for clients
Why the pre meeting or ‘right fight meeting’ is face to face and in their office
How they review and refine the questions that they ask.
How we eventually work out what Stephen does!!

@wealthcp

View Details

Why Chamberlyns provide a refreshingly different service and what that is
Why Chamberlyns exists i.e. its why
How Chamberlyns employ the E-Myth principals in their business
Why first contact calls are always scheduled rather than reactive
Why prospects have to meet the non-negotiable as well as some of the nice-to-have criteria and what those criteria are
What is a 'compatibility and values' meeting
The importance of establishing the right to speak
Why "where are you trying to get to financially" is the most important question Michael asks
@Chamberlyns_ms

View Details

The importance of purposeful practice
No improvement happens in your comfort zone
Why full financial planning, every client, every time makes first meetings much easier

@TamsinCaine

View Details

How to reassure potential clients that they have come to the right place
How a client’s story is far more important than their money
How to bring into adulthood the childhood feeling of awe of what’s possible
How to consciously design your business environment and continually improving it
The importance of flagging up conflicts of interest with clients.

@JustinKing_MFP

View Details

Why the first question is “Why are you here?” Then: “Anything else?”
Why how planners FEEL in a meeting is crucial
Why attachment emotions and survivor emotions are impacting on your success in first meetings
What one to one coaching has taught Tina
Why you need to run a profitable business.

@TheFinanceCoach

View Details

How to set client expectations without even knowing it
The importance of listening and challenging
Why ‘slow planning’ develops a better long term relationship
How to look for the underlying objective through deeper questioning
Why understanding your own values is crucial
Why living your own values is essential for authenticity

@damienrylett

View Details

Why free FP seminars were the best thing Thornton ever did
How she has adopted the training from the Inspiring Adviser program into her own scripts and process
The unexpected benefits of setting up a client advisory board
Why Thornton will see anyone who wants to come in for an initial meeting
Why you mustn’t oversell the positives
Why, ‘what is your one overriding financial objective?’ is her key question and what to do once you have asked it
How she sees the future of Lifestyle Financial Planning and opportunities for Financial Life Coaching
Sharon @sharonsutton99

View Details

Why great financial planning can change your life
How Rob and Anthony plan to build a billion pound business
The importance of scripting
Why living authentically is important
Why Paul Armson is a gateway drug!
Why he opens with ‘what led you to seek financial advice’?
What Rob believes is the incredible opportunity for Financial Life Coaching
What his advice is to Steve
Robert Caplan @londonifa

View Details

Why having no natural chemistry or empathy wasn’t an issue in his career
What he means by being like ‘a friendly John McLean’ (from Die Hard!)
Why your personal motive is the most important factor in your professional life
Why the initial contact with the office shouldn’t be held by you / the planner
Why the pre meeting call should be done by video call
Why your connection with clients should be friendly, open and listening
What an attitudinal questionnaire is and how you would use one
Why his opening question is "tell me your story, how did you get to where you are now?"
Why clients want a collaborative relation akin to a CEO and a CFO
Why you should sell ‘trial relationships’
How he knew it was time to walk away

Jason Butler @jbthewealthman
His current book:
The Financial Times Guide to Wealth Management: How to plan, invest and protect your financial assets (The FT Guides) http://amzn.eu/g62rr1S
His new book:Squeezing The Orange: Simple Ways To Live A Full Life http://amzn.eu/9tJkdJt
Website: http://www.jason-butler.com/

View Details

Why you must treat everyone as unique and with an open mind and conduct meetings with no preconceptions
Why the only background you should remember about someone is their name
Why families are the key structures and influencers in the lives of our clients
Why building rapport is not about your shared interest in golf! Why setting very clear boundaries at the start of your meetings is crucial to a successful client experience
Why having a good memory is essential
Why training advisers on her approach to meetings is difficult as she doesn’t say much
Why ‘how do you think i can help you if we work together?’ is her opening question
Why you must NEVER express you opinion on anything
Why your personal and business presentation is key to your success
Why your meetings with clients are like going on stage
Why clients evaluate you against their value system and you don’t get a second chance to make a first impression
What do you do with your penny pig?
Find out more on http://uniqfamilywealth.co.uk and @UNIQfw
Laura Janes at https://uniquity.co/about/ and @uniquity_co

View Details

Why his location is irrelevant in his world
Why video and video blogs are crucial to his success
Why he has a 4 week program to get his clients organised
Why structured documentation facilitates great conversations
What do Plan B, desired lifestyle and Mega Vision mean and why are they a game changer
Why 'not being' a regulated adviser is irrelevant in his role
Why Facebook advertising works
What he has challenged me to do in 2018

View Details

Why sports people in their teens and 20s and young entrepreneurs need Financial Life Coaching
Why a traditional IFA service and an AUM changing method simply wouldn’t work
Why, ‘how did that make you feel’ is the most important question that he asks
How his experience of personal tragedy impacts his client relationships
How he coaches clients to stay on track
Why a 1 page plan is all that is required *
Why fees should be transparent and on your website
Why graduates need to work on their coaching skills as much as their technical skills
you can download the 1 page plan template from here

View Details

Download here

Why everything is intentional
Why you need to learn, practice, be brave and gather feedback
Why being curious is the most important characteristic for a Financial Life Coach
Why most people are bad listeners
Why having bank of great questions has been key to Capital’s success
Why everything in your business should be thought about and engineered as well as possible because, why wouldn’t you?
Alan Smith @alanjlsmith

View Details

Listen to me discuss with Brian

Why he helps clients to do something important to them
What is the ‘No sign-up meeting’
Why he believes that you should either ‘stand for something’ or ‘stand against something’
Why he believes that staff should only stay with him for 3 years and that they only ever work 4 day weeks
Explain how google advertising works for Jones Hill
What fabulous questions that he asks including
- I’m Curious, what has happened in your life to make you come to see me today?

View Details

Why niche is crucial
Why getting to know clients takes time
The importance of getting a a client's administration sorted
What 4 meetings need to be held with every client every year and what additional contacts will be made
Why flat fees are crucial in his market
Why the future for financial life coaches and Lifestyle Financial Planners is so bright

The Financial Life Coach Podcast: Recent Episodes

The Financial Planning Training Academy