The Perfect RIA: Recent Episodes
Matthew Jarvis & Micah Shilanski, Finance Rockstars
The Perfect RIA (TPR) is a financial advisor practice that delivers massive value to clients, operates with hyper effectiveness, and enjoys a life of passion. More specifically, TPRs deliver value allowing them to charge above average fees, have systems that deliver a return on time north of $1,000 an hour, and balances this with spending multiple months each year living a life of passion. This is not theory, but rather systems that have been proven again and again to create The Perfect RIA.
One of our core tenets and values at TPR is reality, not theory. Matthew and Micah discuss how we get from a theoretical environment to a real environment especially when it comes to meetings with clients where we aim to deliver massive value.
You will hear about the importance of the words you use in meetings as well as what you should be doing to avoid miscommunication with clients. Matthew and Micah also share tips on how to set expectations in ways that are clear and making way for success. They share detailed examples and insight into how to smooth out discussions and give clients confidence in their retirement.
Encore Episode: You Said What In A Client Meeting?!
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this episode, Micah and Jarvis discuss the concept of niching in the financial advisory space, exploring its importance, the distinction between advertising and marketing, and the journey of finding and developing a niche. They emphasize the need for advisors to understand their clients deeply, build trust, and take actionable steps towards establishing their niche. The conversation highlights the long-term commitment required for successful niching and the importance of integrity in client relationships.
Not Everyone Needs a Niche [Episode 313]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
Client segmentation is the process by which you divide your clients up based on common characteristics (such as demographics or behaviors) so that you can serve those clients more effectively. However, client segmentation doesn’t always work in the advisory industry. In fact, it highlights another issue altogether: a failure to define your niche. So, in this episode, Micah and Matthew will be sharing the problems that develop when you start segmenting clients and what you can do to provide massive value instead.
Listen in as the guys describe how to be more intentional with your practice and how to set realistic expectations with your clients. You will learn how to revolutionize your practice through effective communication, the importance of considering how much time a client actually takes out of your working hours, and how to respectfully “retire” clients.
Encore episode - Client Segmentation
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this episode of the TPR Podcast, Matthew Jarvis and Peter Velardi discuss the evolving landscape of financial advisory practices, particularly the impact of private equity on the industry. They explore the shift from traditional independent practices to a more consolidated model, emphasizing the importance of understanding the true value of financial practices and the necessity of risk management. The conversation highlights the current market dynamics, the need for advisors to adapt to changing conditions, and the importance of seeking professional guidance in navigating these complexities.
Navigating the New Era of Financial Advisory With Peter Velardi
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn- Peter Velardi: Website | LinkedIn - Get your practice valuation here
In this episode, Matt interviews Dustin Frost, co-founder of Attentus and creator of the Ride Loud app. They discuss Dustin's journey from a young entrepreneur to running a successful tech company, his productivity strategies, and how he balances work and life. Dustin shares insights on building a strong team, accountability, and the importance of being present with family and friends. The conversation emphasizes the significance of discipline, passion, and effective client relationships in achieving success.
Work-Life Balance with Guest Dustin Frost [Episode 312]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Dustin Frost: Website | LinkedIn
What happens when a prospect says, “I have time tomorrow at 2 pm”? In today’s episode, Matthew and Micah compare this situation to being put into a Jiu-Jitsu chokehold and discuss how to navigate this situation in a calm way. You will hear tips on how to lay a solid foundation for your process of success and how to explain it to your clients in a way that demonstrates its value to them.
Listen in as the guys break down how making exceptions for a client is actually going to take away from the value you provide. They also discuss the importance of setting very clear expectations (and how to be firm with them), how not to waver when it comes to your process, and more.
Encore episode - Prospect Process - Must Schedule Right Now: Available or Desperate?
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this episode of TPR Podcast, we’re joined by legendary entrepreneur, content creator, and author Pat Flynn. Known for pioneering transparency in online business through his blog Smart Passive Income, Pat shares his journey from architecture to content empire, covering everything from personal finance blogging to Pokémon YouTube channels.
Lean Learning and Building True Fans with Pat Flynn [Episode 311]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Pat Flynn - Linkedin | Website
In this Encore Episode Matt and Micah talk about how often you use financial phrases, terminology, or jargon that mean nothing to your clients or prospects? This is something that many advisors do not focus on enough. Verbally simplifying and breaking down what you’re doing to your clients (or prospects) will allow them to recognize how much value you are adding to their life. So, today Matthew and Micah will be sharing the background story as to why they started The Perfect RIA and the reasons they came together to help you through your financial advisory journey.
Listen in to learn the importance of having a niche in who you serve, how to build a practice that is sustainable, and how to add even more value to your clients. Regardless of whether you are just starting out on your financial advisory journey or you are a seasoned advisor looking to up your game in the industry, this is the episode for you.
Encore Episode: What Is The Perfect RIA?
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this episode of the TPR Podcast, Matthew Jarvis and Jessica Polito delve into the complexities of mergers and acquisitions (M&A) in the financial advisory space. They discuss the current trends in M&A, the importance of understanding deal terms, and the emotional journey of selling a business. The conversation highlights the significance of context in business valuation, the challenges of succession planning, and the need for advisors to be proactive in their approach to potential buyers. Listeners are encouraged to maintain transparency and best practices in their business operations, regardless of their plans to sell.
Navigating The M&A Landscape With Jessica Polito [Episode 310]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Jessica Polito - LinkedIn | Website
In this encore episode you'll learn the answerto the question, How are you defining the success that you want to match or surpass? So many advisors have a dream of reaching a specific level in their career, but they never pinpoint the steps they need to take to get there. Without defining goals, planning accurately, cultivating motivation, and reflecting often, you will be on a constant uphill battle with no endpoint in sight. So, in this episode, Matthew will share how to double your success in the four areas of practice success.
Listen in as he explains how to calculate your effectiveness, as well as how to improve upon it. You will learn the benefit of writing down your goals and mapping them out on your calendar, how to become a master of tax planning, and why you should record—and watch—your client meetings so that you can improve them moving forward.
Encore episode - Double Your Practice
- Matt Jarvis: Website | LinkedIn - Buy Matt's Book
In this conversation, Jarvis and Micah discuss the importance of taking real vacations as advisors, emphasizing the need for clear communication with clients and team members. They outline five common mistakes advisors make when planning time off, including not setting expectations, failing to communicate effectively, and neglecting to have an emergency plan. The discussion also highlights the value of having a structured approach to client meetings and the necessity of creating a checklist for time away from the office. Ultimately, they stress the importance of balancing work and personal life to enhance overall effectiveness and satisfaction.
The Art of Taking Time Off [Episode 309]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
There are many things that advisors subconsciously do in client meetings that make a large impact on how those meetings go. Everything from how you enunciate to how you position your body are either adding to or detracting from the client experience, which is ultimately the determining factor in whether they hire you. So, in this episode, Micah and Matthew will be discussing several things you should and shouldn’t do in client meetings.
Listen in as they share how to ensure you are performing at the same energy level throughout every meeting you are conducting, as well as the importance of explaining every action you make to your clients so that they know you are completely present. You will learn how to become a rockstar level advisor, why what you wear matters in meetings, and how to set proper expectations.
Encore episode - You Drank a Soda in a Client Meeting?!?
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
Matthew Jarvis and John Poole discuss the critical importance of financial advisors understanding their business numbers and the implications for practice valuation and sales. They explore common misconceptions among advisors regarding their knowledge of financial metrics, the impact of market growth on practice valuation, and the challenges faced by generational transitions in the industry. The conversation highlights the need for advisors to be well-informed about their business details to avoid pitfalls during practice sales and to ensure successful equity events.
The Numbers Behind Financial Success Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - John Poole: LinkedIn - Get your practice valuation here
In this episode of the TPR podcast, Matthew, James Cahn, and Dean Smith discuss the intricacies of mergers and acquisitions in the advisory industry, emphasizing the importance of talent acquisition, cultural fit, and organic growth. They explore the challenges faced by smaller firms in competing with larger entities, the significance of compliance and cybersecurity, and the necessity of succession planning for long-term success. The conversation highlights the evolving landscape of financial advising and the critical factors that advisors must consider to thrive in a competitive market.
The Critical Role of Talent in Advisory Firms [Episode 308]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - James Cahn: Website | LinkedIn - Dean Smith: LinkedIn
In this encore episode Matthew and Micah are excited to talk about how to communicate with clients when their accounts go down in value. Rather than giving clients a 72-page document on probabilities of success, there are some key ways to prepare them and set expectations reasonably to make these conversations clearer.
Matthew and Micah discuss ways that you can educate clients properly and set them up successfully for whatever moves the market makes. They discuss the discomfort clients feel when seeing investments go down and share how they ensure that clients are properly informed of their options and how to stay calm in moments of “loss.”
Encore episode - How Did I Lose $50,000 This Month!?!
In this episode, Jarvis and Micah discuss the dynamics of their podcast, emphasizing the importance of consistency and preparation in achieving success. They explore the hard truths behind success, the necessity of practice, and the value of networking. The conversation also highlights the significance of continuous learning, measuring success through key metrics, and living intentionally to balance work and family life. The episode concludes with actionable items for growth and accountability.
The Hard Truths of Success [Episode 307]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this throwback episode, Matthew and Micah revisit one of their most impactful conversations about adding real value during client meetings. Every advisor knows they need to meet with clients regularly but what do you actually say in those meetings to make them count? If you've ever struggled with that question, this episode is for you. The guys go back to the origins of the value-add, share their early struggles, and talk about what helped them build confidence and purpose into every client interaction.
Encore episode - How To Communicate Your Value To Clients [Episode 172]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this episode, Matthew Jarvis hosts Brian Smith and Will Wade from Foundational Income Associates to discuss the complexities and importance of annuities in financial advising. They explore the different groups of advisors regarding their approach to annuities, introduce a five-step process for selecting and managing annuities, and emphasize the importance of streamlined licensing and paperwork. The conversation also highlights the ongoing support provided to advisors and the common challenges they face in the annuity process.
Annuities Made Simple: Saving Time and Serving Clients Better [Episdoe 306]
Resources in today's episode:
- Matt Jarvis: LinkedIn | Website - Brian Smith - LinkedIn | Website - William Wade - LinkedIn | Website - theperfectria.com/fia
In this week's Follow Up Friday, Amber Kuhn highlights what makes you invaluable to your clients and why you might be underestimating your own worth.
On Monday, Matt and Micah kicked off the week by sharing real-world client experiences that showcase advisor value in action. Their first piece of wisdom? Start keeping a "value journal" of moments when clients recognize your impact. Those testimonials become psychological lifelines during those inevitable days when you question your contributions. Micah shared a powerful dinner conversation where a client confessed they couldn't have survived life's darkest moments without him a reminder that what feels like everyday work to you can be profoundly transformative for clients. The conversation flowed into cashflow planning as a cornerstone value-add. As the guys emphasized, cash flow is the heartbeat of retirement, influencing every decision, and value-adds aren't just services they're the building blocks of client relationships that can last decades.
Resources in today's episode:
- Episode Website - Value Beyond The Meeting [Episode 305]
In this episode, Matt and Micah discuss the art of delivering massive value to clients that extends far beyond the conference room door. They argue that cash flow isn't just a financial metric—it's the lifeblood of effective retirement planning. The duo shares practical wisdom on systematically tracking value delivery, mastering the delicate dance of cash flow conversations, and leveraging your own financial journey to build unshakeable client confidence. They unpack the emotional dimensions of money management while emphasizing that broad-stroke cash flow planning trumps tedious line-item budgeting every time. Throughout their conversation, they reveal how strategic accountability keeps clients engaged and on track toward their financial goals, ultimately transforming the advisor-client relationship.
Value Beyond The Meeting [Episode 305]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this week's Follow Up Friday, Amber Kuhn recaps a discussion on ranking value adds and practice valuation. On Monday, Matt and Micah delivered a masterclass on value-add services that'll have you rethinking your client relationships faster than you can say "fiduciary responsibility." They dove into the art of creating one-page documents that showcase your value to clients while somehow managing to keep themselves to just one page each. They ranked these value-adds from "you should be doing this yesterday" to "this might require its own dedicated team.” Remember the "dishwasher rule"? These value-adds aren't just services—they're tangible evidence of the value you're providing.
In Thursday's bonus episode, Matt spoke with Scott DiGiammarino from JPTD Partners. Scott shared that with over 40 deals in the past year, his clients see valuations at double or triple the industry norm.
For advisors thinking selling means retiring to a beach somewhere, Scott dispelled the myth that sellers have to exit completely. In fact, buyers (particularly those private equity firms) prefer you stick around to keep growing the business—they just want a piece of that lucrative pie.
The takeaway from both episodes? Whether you're building value through client services or preparing to cash in on the practice you've built, being proactive, strategic, and clear about your vision is non-negotiable.
Resources in today's episode:
- Episode Website - Ranking Value Adds: Easy Wins and Game Changers [Episode 304] - Selling High: Why Your Practice May Be Worth Double What You Think with Guest Scott DiGiammarino
In this episode, Matthew Jarvis and Scott DiGiammarino from JPTD discuss the financial advisory practice marketplace where valuations have skyrocketed to unprecedented heights—often doubling previous appraisals. They dive into the minds of today's buyers, revealing that the landscape is dominated by private equity firms operating as either integrators or aggregators, each with distinct approaches to acquisitions.
Contrary to popular belief, many advisors selling practices aren't ready for retirement rocking chairs. Instead, they're often younger professionals seeking new opportunities while remaining involved post-sale—a critical factor for both the advisor's peace of mind and the buyer's return on investment. They explore the emotional rollercoaster of selling a practice built over decades, with many advisors discovering that the M&A process itself brings unexpected clarity about their true priorities.
Selling High: Why Your Practice May Be Worth Double What You Think with Guest Scott DiGiammarino
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn- Scott DiGiammarino: Website | LinkedIn - Get your practice valuation here
In this episode of The Perfect RIA podcast, Matt and Micah dive into the world of value adds – those extra touches that keep clients from heading for the exit. The duo serves up a practical ranking system, categorizing value adds from simple to complex - where it might require a few extra cups of coffee. They reveal how these reports can transform client comprehension from confused head-scratching to confident nods of approval. The conversation ventures through the often-neglected territory of survivor income planning, the delicate art of long-term care discussions, and the absolute necessity of keeping beneficiary information current. Their message is crystal clear: implement one value add per quarter, start small, and watch your practice transform.
Ranking Value Adds: Easy Wins and Game Changers [Episode 304]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this week's Follow Up Friday, Amber Kuhn recaps a discussion between Matt and Catharine Tindall to unravel the complexities of S-corporation structures for financial advisors. Catherine challenged advisors to move beyond the simple question of "Should I become an S-corp?" and instead dive deeper into the strategic considerations. Matt and Catherine both underscored an essential truth: While there's no magic tax bullet, proactive planning can significantly optimize an advisor's financial growth.
Resources in today's episode:
- Episode Website - The S-Corp Advantage: What You Need to Know with Guest Catherine Tindall [Episode 303]
In this episode of The Perfect RIA, Matthew Jarvis and Catherine Tindall, CPA ,explore the intricate world of tax strategies specifically tailored for financial advisors. Their conversation cuts through the complexity of S-Corp structures and tax planning, offering practical wisdom for professionals looking to optimize their financial approach.
Catherine brings her expertise to the forefront, challenging traditional thinking about retirement planning and business investment. The discussion reveals how financial advisors can make more strategic decisions about compensation, business structure, and tax optimization. Rather than following conventional wisdom, they explore how reinvesting in one's business can potentially create more value than standard retirement contributions.
Matt and Cathering dive into critical areas often overlooked by financial professionals, including the nuances of reasonable compensation, the importance of meticulous documentation, and the strategic implications of different income sources.
The S-Corp Advantage: What You Need to Know with Guest Catherine Tindall [Episode 303]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Catherine Tindall, CPA: LinkedIn | Website - Fleischer Case
In this week's Follow Up Friday, Amber Kuhn recaps a discussion between Matt and Micah about one of the most challenging aspects of running a financial advisory practice: knowing when—and how—to fire clients. The episode dove into practical strategies for managing client expectations, beginning with establishing clear communication policies. When clients challenge advice, it often signals that the advisor hasn't communicated effectively. However, when clients repeatedly refuse to follow critical advice that could "blow up the financial plan," advisors may need to consider whether the relationship remains viable.
Resources in today's episode:
- Episode Website - Why Or When To Fire A Client [Episode 302]
In this episode of the Perfect RIA Podcast, Matt and Micah tackle the delicate dance of knowing when—and how—to part ways with clients. They challenge the very notion that advisors can simply "fire" clients, arguing instead that you must first earn that right through consistent value delivery.
They explore the fascinating psychology behind client-advisor tensions, revealing how unmet expectations are at the root of most relationship breakdowns. "All disappointment," they remind us, "comes when expectations collide with reality." They offer a nuanced take on distinguishing between clients who question advice (healthy) versus those who consistently ignore it (problematic).
Matt and Micah share practical wisdom on establishing non-negotiable boundaries, implementing clear communication policies, and protecting your team from energy-draining client dynamics. They walk through the graduation process with empathy, emphasizing that even termination conversations should be handled with value and professionalism.
Why Or When To Fire A Client [Episode 302]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this week's Follow Up Friday, Amber Kuhn highlights the impact of delegating your bookkeeping. On Monday, Matt and Duff Tucker from BELAY kicked off with a reality check every advisor needs—your books might be messier than you think, and that could mean big trouble. However, delegation isn’t just to stay compliant but to also save time, money, and sanity.
Doing your own books is probably costing you way more than you think so the math is simple: if outsourcing bookkeeping gives you back precious time to focus on revenue-generating work, why are you still DIY-ing it?
Resources in today's episode:
- Episode Website - Bookkeeping Breakthrough: Why Financial Advisors Who Delegate Win Big With Duff Tucker [Episode 301]
In this episode of The Perfect RIA podcast, Matthew Jarvis sits down with Duff Tucker from BELAY to tackle a topic that makes many financial advisors squirm: bookkeeping delegation. They dive into why clean books aren't just about avoiding audit headaches but are fundamental to running a thriving practice.
The conversation reveals the psychological tug-of-war many advisors experience—feeling they should handle their own books while simultaneously drowning in tasks that pull them away from revenue-generating activities. Duff expertly dismantles common objections around security concerns and the "I can do it myself" mentality that keeps advisors chained to QuickBooks instead of meeting with clients. From the initial investment in training to the exponential returns of reclaimed time and reduced stress, Matt and Duff make a compelling case that professional bookkeeping isn't just an expense—it's a strategic growth decision. As they note, once advisors taste the freedom of delegation, they rarely turn back.
Bookkeeping Breakthrough: Why Financial Advisors Who Delegate Win Big With Duff Tucker [Episode 301]
Resources in today's episode:
- Matt Jarvis: LinkedIn | Website - Duff Tucker: LinkedIn | Website - Text RIA to 55123 to access BELAY’s resources on delegation and to connect for your free delegation consultation.
In this week's Follow Up Friday, Amber Kuhn highlights succession planning and the lessons learned from a successful merger. On Monday, Matt sat down with Jenny Martella from Modera, who shared her remarkable journey of growing her advisory firm from $19 million to $250 million before joining a larger organization. Jenny reflected on the key lessons from her career, emphasizing that success comes through meaningful connections. When developing her succession plan, maintaining client experience quality remained her top priority. Jenny emphasizes that finding the right cultural fit was crucial in their decision to join Modera, where shared values, respectful treatment of colleagues, and assumptions of positive intent aligned with their own philosophy. She notes that this culture-first approach continues today, with team meetings regularly highlighting values in practice.
Resources in today's episode:
- Episode Website - The 'Bus Ready' Advisor: Building Firms That Outlast You With Guest Jenny Martella [Episode 300]
In this episode of the Perfect RIA Podcast, Matthew Jarvis sits down with financial powerhouse Jenny Martella, whose journey from managing $19 million to $250 million before joining Modera is nothing short of inspirational. Jenny shares wisdom that goes beyond numbers, revealing how meaningful connections shaped her success story. She unpacks the secret of effective succession planning (hint: it's not just about retirement) and why creating the right firm culture can make or break your practice. Jenny offers refreshing insights on why women advisors bring distinctive strengths to the table that boost bottom lines and how finding your niche can transform casual prospects into devoted clients. The conversation weaves through practical advice on building leadership teams, embracing mentorship, and staying "bus ready" to protect client interests. Perhaps most compelling is Jenny's philosophy that when your team thrives, your clients flourish – suggesting that the path to profitability might be paved with purpose rather than just profit margins.
The 'Bus Ready' Advisor: Building Firms That Outlast You With Guest Jenny Martella [Episode 300]
Resources in today's episode:
- Matt Jarvis: LinkedIn | Website - Jenny Martella: LinkedIn | Website
In this week's Follow Up Friday, Amber Kuhn highlights advisor mindsets and M&A strategies in the financial advisory world.
Monday's episode featured Matt and Micah reflecting on insights from their recent mastermind event, where "financial undressing" revealed a fundamental truth: no two practices are alike. They challenged advisors to abandon the "I'm the best" mentality, warning that pride creates a dangerous blind spot. Instead, they advocate seeking out advisors who are achieving superior results and learning from their approaches—while still maintaining a critical eye for those who might be all talk with little substance to back up their claims.
The week's bonus episode featured Ted Jenkin from JPTD joining Matt to cut through the noise in the M&A space. Ted highlighted a common pitfall: advisors often lack the market context to properly evaluate deals, potentially leaving money on the table. He emphasized that beneath splashy headlines about practice valuations lie complex deal structures that demand specialized knowledge.
Resources in today's episode:
- Episode Website - You’re Not Taylor Swift [Episode 299] - Exit Strategy Excellence: Building a Practice Worth Buying With Guest Ted Jenkin
In this episode of the Perfect RIA Podcast, Matthew Jarvis is joined by Ted Jenkin to discuss the high-stakes world of mergers and acquisitions in the financial advisory industry. They expose the gap between self-proclaimed M&A "experts" and those with genuine deal-making prowess. They highlight how proper negotiation tactics can transform a mediocre deal into a goldmine—and why having a professional negotiator in your corner might be the best investment you'll ever make. They tackle the uncomfortable truth that many advisors don't actually know their practice's real revenue numbers (hint: it's probably not what you think).
Matt and Ted also challenge the common wisdom of waiting until reaching a specific size before selling, warning that this "someday" strategy could leave you with nothing but regrets and missed opportunities and reveal that many financial advisors are missing a crucial opportunity to add value during their clients' business sales—a process that's far more complex and emotionally charged than most realize.
Exit Strategy Excellence: Building a Practice Worth Buying With Guest Ted Jenkin
Resources in today's episode:
- Matt Jarvis: LinkedIn | Website - Ted Jenkin: LinkedIn | Website - Get your practice valuation here
In this episode of the Perfect RIA Podcast, hosts Micah Shilanski and Matthew Jarvis discuss humility and why even advisors with the fanciest letterheads need it. The duo dives into the ecosystem of advisory practices (spoiler alert: not all are created equal) and unpacks the sometimes brutal realities of mergers and acquisitions. Whether your practice is a boutique operation or an industry behemoth, Micah and Matthew insist there's always something to learn from your peers—even if that something is "what not to do."
They warn against the "know-it-all" syndrome that plagues many successful advisors and explain why understanding your practice's true value is essential before you start dreaming about that yacht-worthy exit strategy. Plus, they remind us that clients don't care about your impressive credentials if their experience feels like a trip to the DMV (and we don’t mean Delivering Massive Value).
You’re Not Taylor Swift [Episode 299]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn- Get your practice valuation here
Summary:
In this week's Follow Up Friday, Amber Kuhn highlights one advisor’s journey going independent. On Monday, Matthew Jarvis welcomed Carmine Corino, CEO of Cornerstone Planning Group and author of the Amazon bestseller "Broken Dealer." Their conversation dove deep into the complexities of transitioning from traditional broker-dealer channels to independence in the financial advisory world. The discussion offered crucial insights for advisors contemplating independence and an inquiry that can serve as a compass for advisors evaluating their current situation, regardless of their channel.
Resources in today's episode:
- Episode Website - The Real Cost of Loyalty: A Financial Advisor's Road to Independence with Guest Carmine Corino [Episode 298]
Summary:
Ever wonder what happens when a seasoned financial advisor finally breaks free from the broker-dealer world? In this episode of the Perfect RIA podcast, Matthew Jarvis interviews Carmine Corino, author of 'Broken Dealer' and CEO of Cornerstone Planning Group. Carmine shares his compelling transition from the broker-dealer world to founding his own RIA, offering a candid look at the challenges and revelations that shaped his journey.
The conversation reveals how a 21-year career path, culminating in an enlightening 19-day safari with his family, led Carmine to reassess his professional relationships and ultimately choose independence. Through their discussion, they explore the often-overlooked realities of recruiting incentives, the growing influence of private equity in the advisory space, and the true meaning of loyalty in business relationships.
The Real Cost of Loyalty: A Financial Advisor's Road to Independence with Guest Carmine Corino [Episode 298]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Carmine Corino: Website | LinkedIn | Broken Dealer Book - Cornerstone Assessment
In this week's Follow Up Friday, Amber Kuhn highlights the ever-present challenge of advisory fees and client perceptions. Matt and Micah emphasized on Monday that the fee conversation isn't just about the percentage – it's about the value delivered. While they acknowledged that a 1% fee might indeed be too high for an advisor who's not actively engaging with clients, they argued that consistent value delivery changes the equation entirely. They stressed the importance of helping prospects understand the complete package of services they're receiving rather than fixating solely on fees and performance metrics. Their message was clear: advisors need to believe in their fee structure and have clear, tangible processes in place to support it.
Resources in today's episode:
- Episode Website - The Fees Are Only Up Because The Market Is Up… [Episode 297]
In this episode of The Perfect RIA podcast, Matt and Micah tackle the ever-present elephant in the room: advisor fees and the true value behind those dollar signs. They discuss how clients, naturally protective of their hard-earned wealth, often wrestle with the age-old question: "What am I really getting for my money?"
Matt and Micah advocate for advisors to own their worth confidently and stress that having a crystal-clear value proposition isn't just nice to have – it's as essential as coffee on a Monday morning. They make a compelling case against the industry's tendency to race to the bottom on pricing. Instead, they champion the art of delivering massive value that makes clients feel like they've struck gold.
The Fees Are Only Up Because The Market Is Up… [Episode 297]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this week's Follow Up Friday, Amber Kuhn recaps an insightful conversation between Matt and executive coach Kristen Burke about the art and science of goal achievement. While many advisors start the year with enthusiasm, that initial energy often wanes as the first quarter progresses. Kristen, drawing from her extensive experience coaching advisors since 2009, revealed that success lies not in attempting wholesale changes but in mastering one goal at a time. She shared four essential characteristics of successful goal achievers while also highlighting the value of having a coach to guide and support individuals in their journey.
Resources in today's episode:
- Episode Website - From Setting to Achieving: The Four C's To Achieving Your Goals with Guest Kristin Burke [Episode 296]
In this episode of The Perfect RIA podcast, Matthew Jarvis and Kristin Burke tackle the often frustrating gap between setting goals and actually achieving them. They explore why many financial advisors' ambitious plans fall short and reveal the key elements that transform good intentions into tangible results.
They unpack the four essential pillars of goal achievement: clarity, confidence, courage, and consistency, and share insights on how sustainable success comes from deliberate, incremental progress rather than dramatic overhauls.
Kristin introduces her innovative Friday ritual – a practical reflection and planning practice that's helped countless advisors stay on track. She explains how focusing on specific, trackable activities creates a reliable path to reaching larger objectives, replacing the common trap of vague goal-setting with actionable strategies.
From Setting to Achieving: The Four C's To Achieving Your Goals with Guest Kristin Burke [Episode 296]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Kristin Burke: Website | LinkedIn- Elite Achievement Podcast: EP 107. Elevate Your Practice: From Financial Strain to Financial Success with Matthew Jarvis
In this week's Follow Up Friday, Amber Kuhn highlights the origin story of why Matthew Jarvis and Micah Shilanski started The Perfect RIA. Matt and Micah revealed how the landscape of financial advising was once shrouded in mystery, with successful advisors keeping their strategies close to the chest, and they found themselves navigating through well-meaning but often theoretical advice from people who hadn't actually implemented what they were preaching. After years of trial and error, they discovered that their unconventional approach to running their practices, though criticized by industry standards, was working exceptionally well.
Their commitment to transparency and real-world experience led to their first (albeit unreleased) podcast attempt, eventually evolving into the weekly show we know today. The heart of their message centered on the importance of community and the power of shared experience. The Perfect RIA has become more than just a podcast – it's a forcing mechanism for growth and a platform for industry transformation.
Resources in today's episode:
- Episode Website - Beyond the BS: What Actually Works in Financial Planning [Episode 295 ]
In this episode of The Perfect RIA Podcast, hosts Micah Shilanski and Matthew Jarvis cut through the noise of conventional industry wisdom. As advisors everywhere dive into their new year planning, these seasoned pros share what actually drives success in financial planning – and it's not what most Instagram gurus would have you believe. They tackle the real challenges of entrepreneurship in financial services, offering insights that go beyond the typical "top ten tips" you'll find in industry publications. They explore how they've transformed their practices from standard portfolio management shops into businesses that deliver meaningful, life-changing value to clients.
The conversation takes an honest turn as they dissect the role of community support and mastermind groups – because, let's face it, sometimes you need someone to tell you when your brilliant idea isn't so brilliant. Drawing from their podcast journey, they offer a reality check on what it really takes to succeed in this industry (hint: it's not another certification).
Beyond the BS: What Actually Works in Financial Planning [Episode 295 ]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this week's Follow Up Friday, Amber Kuhn highlights why estate planning often becomes a mere checkbox for financial advisors despite its critical importance. On Monday, Micah shared his successful approach of making estate planning the first priority with new clients, emphasizing the value of supporting clients throughout the entire process rather than simply directing them to an attorney. He and Matt stressed the importance of advisors experiencing estate planning firsthand, demonstrating how personal experience can help advisors better relate to and guide their clients.
Resources in today's episode:
- Episode Website - A Trust Will Solve All My Problems… [Episode 294]
In this episode, Matthew Jarvis and Micah Shilanski dive deep into the often misunderstood world of estate planning. They reveal how many clients mistakenly consider estate planning a simple checkbox task when it actually requires ongoing attention and care. They share invaluable insights from their years of experience, emphasizing that successful financial advisors must actively guide their clients through each step of the estate planning journey.
Drawing from their own practices, Matt and Micah discuss the delicate art of managing client expectations, particularly when dealing with complex trust arrangements. They stress the power of personal storytelling, encouraging advisors to share their own estate planning experiences to build authentic connections with clients. They make a compelling case for dedicating specific meetings solely to estate planning rather than treating it as a secondary topic.
A Trust Will Solve All My Problems… [Episode 294]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn - Estate Planning Masterclass
In this week's Follow Up Friday, Amber Kuhn recaps a powerful conversation between Matthew Jarvis and financial advisor Tony Hixon, author of "Retirement Stepping Stones." The episode dives into the human side of financial advising, sparked by a personal tragedy that transformed Tony's approach to retirement planning. This devastating experience led Tony to revolutionize his approach to retirement planning where he discovered a critical gap. While financial readiness is essential, it's just one piece of the retirement puzzle.
Resources in today's episode:
- Episode Website - The Hidden Crisis in Retirement: Finding Purpose After the Paycheck with Guest Tony Hixon [Episode 293]
In this episode of The Perfect RIA, Matthew Jarvis welcomes Tony Hixon for a deeply personal conversation about the often-overlooked emotional dimensions of retirement planning. Sharing the heart-wrenching story of his mother's struggle with mental health after retiring, Tony reveals how this experience transformed his approach to financial advising. He discovered that while managing money is crucial, helping clients discover their post-retirement purpose and legacy is equally vital for their wellbeing.
Drawing from his experiences and insights, Tony has developed comprehensive resources including his groundbreaking book, "Retirement Stepping Stones," which offers both advisors and clients practical strategies for navigating the psychological aspects of retirement. Perhaps most importantly, Tony emphasizes a profound truth about effective advising: before guiding clients through their journey of self-discovery, financial advisors must first commit to their own personal growth and development.
The Hidden Crisis in Retirement: Finding Purpose After the Paycheck with Guest Tony Hixon [Episode 293]
Resources in today's episode:
- Matt Jarvis: LinkedIn | Website - Tony Hixon: LinkedIn - Retirement Stepping Stones: Find Meaning, Live with Purpose, and Leave a Legacy - The Purpose Driven Retirement Coaching Guide™ Online Course For Financial Advisors Use code: PerfectRIA for 15% off *This course is approved for 2 hours of CE credit - Being Above Or Below The Line With Guest Adam Silberstein
In this week’s recap, Amber Kuhn highlights the discussion about turning your January business aspirations into tangible growth. On Monday, Matt and Micah emphasized that successful financial advisory practices need more than just revenue goals – they need sustainable double-digit client growth to maintain and increase practice valuations.
The heart of their message centered on the sometimes uncomfortable but crucial practice of "financial undressing" – laying bare your practice's real numbers rather than the ones you might be telling yourself.
And when it comes to prospecting, Matt and Micah drew a clear distinction between leads and prospects, emphasizing the importance of having a well-defined process from initial contact through onboarding. They stressed that top-performing offices review their pipeline weekly, tracking everything from contact rates to close ratios, even if it means confronting rejection head-on.
Resources in today's episode:
- Episode Website - So, How Will You Get All Those New Clients? [Episode 292]
In this episode, Matt and Micah tackle the age-old question: how can advisors transform their practices from good to extraordinary? They reveal why shooting for double-digit client growth isn't just ambitious – it's necessary for a thriving practice in today's competitive landscape.
But it's not all about the numbers (though they're pretty important). The episode unpacks the critical role of financial addressing – think of it as your practice's GPS, helping you navigate through potential gaps and opportunities. Matt and Micah emphasize the value of having someone who'll challenge your figures and push back on your assumptions because, let's face it, sometimes we all need a reality check.
The conversation takes a practical turn as they dissect the prospecting process, showing how tracking metrics can transform your client acquisition strategy. They stress that your prospect process shouldn't be a well-kept secret – it should be as clear as day to your entire team.
So, How Will You Get All Those New Clients? [Episode 292]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this week’s recap, Amber Kuhn highlights the often-overlooked foundation of successful financial advising: genuine client relationships. While industry expertise matters, Matt and Micah shared Monday that empathy trumps technical knowledge when it comes to client retention. Tracking net client flow in 2024 isn't just about celebrating new additions – it's about understanding why clients leave and addressing the root causes.
They tackled the delicate balance between "graduating" ill-fitting clients and confronting uncomfortable truths about advisor shortcomings and shared their approach to client questions. Rather than viewing inquiries as challenges to defend against, they reframe them as opportunities for deeper understanding.
Resources in today's episode:
- Episode Website - What Was Your NET Client Flow In 2024? [Episode 291]
In the latest episode of The Perfect RIA, Matt and Micah discuss what truly makes or breaks client relationships in financial advising - and surprise, it's not your fancy financial jargon or market predictions. They reveal why empathy is the key to transforming good advisors into trusted lifetime partners for their clients. This is a wake-up call for advisors who might be too focused on spreadsheets while missing the human element; client retention metrics go hand-in-hand with mastering the art of emotional intelligence. Success isn't just about crunching numbers - it's about asking the right questions and actually listening to the answers.
What Was Your NET Client Flow In 2024? [Episode 291]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn - Estate Planning Masterclass
In this week’s recap, Amber Kuhn highlights the significance of setting intentions for the new year. On Monday, Matt and Micah tackled the delicate balance between the new year's ambitions and business entitlement. While January presents a fresh start for financial advisors, they warned against the dangerous mindset of entitlement that can creep in after achieving success. They emphasized that no advisor is automatically entitled to premium fees or flexible schedules – these perks are earned through intentional business building and consistent value delivery.
Resources in today's episode:
- Episode Website - What You Are Entitled To In 2025 [Episode 290]
In this episode, Matt and Micah kick off 2025 with an episode that's less about champagne toasts and more about making your financial advisory practice pop like a cork. They dive into the art of intention-setting, reminding listeners that success in the financial world isn't served on a silver platter – it's earned through good old-fashioned elbow grease.
In this candid conversation, they tackle the elephant in the room: the entitlement mindset that's become the silent practice-killer for many advisors. They share their battle-tested wisdom on building sustainable businesses that stand the test of time, emphasizing that client relationships are more than just numbers on a spreadsheet – they're the heartbeat of a thriving practice.
What You Are Entitled To In 2025 [Episode 290]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this week’s recap, Amber Kuhn is highlighting the significance of relationship building in client meetings revealing that financial advising is far more about emotional intelligence than technical prowess. In this week’s episode she shares how Matt and Micah unpacked the critical soft skills that transform client interactions from transactional to transformative. The key insight? Technical expertise can actually hinder initial client connections if not balanced with genuine relationship building. The overarching message is clear: successful financial advising is about connection, empathy, and genuine care.
Resources in today's episode:
- Episode Website - Don’t Worry, I Can Skip The Soft Stuff [Episode 289]
In this episode, Micah and Matt discuss the importance of relationship-building in client meetings. They reveal a counterintuitive truth that many financial advisors miss: your first client meeting isn't about dazzling them with spreadsheets or complex financial jargon. Instead, it's about creating a genuine human connection that transforms potential clients from mere numbers to trusted partners in their financial journey.
Micah and Matt break down the essential strategies for turning initial client interactions from mundane meetings into meaningful conversations. They emphasize the power of curiosity, active listening, and empathy as the true currencies of successful financial planning. They challenge advisors to approach each meeting with a mindset of authentic interest, encouraging them to ask open-ended questions that invite clients to share their deepest financial hopes, fears, and dreams.
Don’t Worry, I Can Skip The Soft Stuff [Episode 289]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this week’s recap, Amber Kuhn is highlighting business growth and personal development. On Monday, Matt and Micah shattered the myth of silver bullet solutions, emphasizing that true progress comes from doing the hard, uncomfortable work. The real game-changer isn't a flashy new logo or website but a consistent, meaningful effort that pushes you beyond your comfort zone.
On Thursday, Jamie's segment dove into productivity strategies, highlighting the critical importance of documenting repeatable processes, practicing radical self-honesty, and learning from failures through after-action reports. The key message? Stop wishing and start doing. Successful entrepreneurs don't just dream - they create actionable plans, audit their systems, and surround themselves with growth-minded individuals.
Resources in today's episode:
- Episode Website - Yes, There is One Silver Bullet [Episode 288] - Encore Episode: Goals and Productivity
In this encore episode, Jamie Shilanski dives into how you approach personal and professional growth. Forget wishful thinking – this is about transforming goals from pipe dreams to concrete realities through strategic self-reflection and relentless improvement. Jamie cuts through the noise with her perspective on success, revealing the critical difference between merely looking through a window at your potential and using a mirror to truly understand your progress. Her core message is crystal clear: success isn't about perfection; it's about progress. Documenting your journey isn't just administrative busywork – it's the blueprint for sustainable business continuity and personal development.
Instead of wallowing in setbacks, Jamie champions the art of the "after-action report" – a powerful tool that transforms mistakes into learning opportunities. She challenges listeners to ditch the victim mentality and instead cultivate a growth mindset that treats every stumble as a stepping stone to greatness.
Pro-tip for ambitious professionals: A goal without a plan is just a wish. Surround yourself with people who don't just support your dreams but who challenge you to exceed them. Build a team and personal culture that celebrates accountability, embraces continuous learning, and turns potential into performance.
Encore Episode: Goals and Productivity
In the latest episode of The Perfect RIA, hosts Micah Shilanski and Matthew Jarvis share some hard-hitting truths about what really drives success in the financial advisory world. Forget the fantasy of overnight miracles and magical quick fixes. This episode is a no-nonsense dive into the unglamorous—but absolutely essential—reality of building a thriving practice.
Spoiler alert: There's no silver bullet waiting to transform your business overnight. Those shiny logo packages, sparkling new websites, and expensive consultants? They're not your golden ticket.
The episode challenges financial advisors to stop looking for shortcuts and start investing in what truly matters. It's about refining your processes with surgical precision, mastering the art of communication, and developing a level of accountability so extreme it might make your past self blush. Success isn't about looking good—it's about doing the work that most people are too afraid to tackle.
Yes, There is One Silver Bullet [Episode 288]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn - The Comfort Crisis by Michael Easter
In this weekly recap, Amber Kuhn highlights financial history and strategic goal achievement. On Monday, Mark Higgins, author of "Investing in US Financial History," joined Matt to offer a profound perspective on understanding market dynamics through historical context. Mark emphasizes that true financial wisdom comes from understanding historical patterns without falling into the trap of believing "this time it's different."
On Thursday, Jamie brought an equally transformative message about goal setting that goes far beyond typical motivational rhetoric. Her core philosophy cuts to the heart of personal and professional development: a goal without a plan is merely a wish. She challenges setting goals that are genuinely intimidating – ones that make you uncomfortable and push you beyond your comfort zone. The key, she argues, is not just in setting ambitious targets but in creating deliberate, specific action plans with clear responsibilities and deadlines.
Resources in today's episode:
- Episode Website - The Role of History in Financial Advising With Guest Mark Higgins - Encore Episode: Goal Setting
In this episode, Jamie Shilanski demolishes the myth that goals are just wishful thinking. She cuts through the noise with a message that true success isn't about dreaming—it's about doing. Jamie challenges financial advisors to move beyond vague aspirations and craft meticulously designed roadmaps that bridge the gap between where they are and where they want to be.
Diving deep into the psychology of achievement, she unpacks the critical importance of creating specific, actionable goals that go far beyond mere hope. Her insights reveal how successful financial advisors transform abstract dreams into concrete plans, complete with measurable milestones and strategic checkpoints.
Encore Episode: Goal Setting
In this episode of The Perfect RIA podcast, Matthew Jarvis sits down with Mark Higgins, the author of 'Investing in U.S. Financial History.' Mark brings a treasure trove of knowledge, unpacking how understanding the financial past can be your crystal ball for navigating today's economic maze. From the intricate web of national debt to the future of entitlements, the conversation peels back layers of economic complexity that most advisors never explore. Listen in to discover how historical perspective can be your most powerful investment strategy because in the world of finance, those who understand the past are uniquely positioned to conquer the future.
The Role of History in Financial Advising With Guest Mark Higgins [Episode 287]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Mark Higgins: Book | LinkedIn | Newsletter | IFA Institutional
In this weekly recap, Amber Kuhn highlights fee management and strategic business planning. On Monday, Matthew Jarvis was joined by Lacey Shrum from Smart KX to explore the often-overlooked art of billing and fee collection. They revealed that many advisors underestimate their value, leaving money on the table through inconsistent billing practices and fear of raising fees.
On Thursday, Jamie recommended taking a strategic approach to year-end business planning. She introduced the "3 Ps" client evaluation method: assessing clients' personability, productivity, and profitability. Jamie broke down essential metrics for financial practices, including pipeline analysis, client account sizes, and critical financial calculations like EBOC (Earnings Before Owner Compensation) and EBITDA.
Resources in today's episode:
- Episode Website - Fee Billing Faux Pas: How Advisors Lose Money Without Realizing It With Guest Lacey Shrum [Episode 286] - Show Me Your EBITDA
In this episode, Jamie Shilanski delivers a masterclass in strategic business planning that's sure to resonate with financial advisors looking to transform their practices from good to extraordinary. Diving deep into the art and science of year-end business planning, Jamie unpacks the critical components that separate thriving practices from merely surviving ones.
Jamie provides a comprehensive guide to financial advisor success, revealing how understanding key performance indicators (KPIs) can be the secret to operational excellence. At the heart of the discussion are crucial financial metrics like EBOC (Earnings Before Owner Compensation) and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). These aren't just fancy acronyms—they're powerful tools that offer a crystal-clear view of a practice's financial health and operational efficiency. Jamie challenges advisors to treat their own business with the same meticulous planning they apply to client portfolios, creating a culture of accountability and strategic growth.
Show Me Your EBITDA
Resources in today's episode:
- Year-End Business Planning How To
In financial advising, leaving money on the table isn't just a rookie mistake—it's a potential career killer. Matthew Jarvis and Lacey Shrum from Smart KX dive deep into the treacherous waters of advisor fee billing, exposing the hidden pitfalls that can sink even the most well-intentioned financial professionals.
Imagine this: an advisor ends up behind bars, not for financial fraud, but for a simple Excel billing error. It sounds like a cautionary tale, but it's a real-world warning about the dangers of manual fee calculations. The episode reveals how seemingly innocuous billing practices can lead to significant risks, from unintentional overbilling to accidentally shortening your bottom line.
The discussion goes beyond mere number-crunching, addressing the psychological hurdles advisors face when implementing fee changes. It's not just about the math—it's about understanding the true value of your work and communicating that value to clients.
Fee Billing Faux Pas: How Advisors Lose Money Without Realizing It With Guest Lacey Shrum [Episode 286]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Lacy Shrum: Website | LinkedIn
Ever wondered how Edward Jones grew to $2.1 trillion without giving away the keys to the kingdom? In this recap episode, Amber shares highlights on how you can learn from others' success and how to really plan for the next year. On Monday, Matt and Micah discussed scaling your practice beyond the mythical "150-client ceiling" and challenged the "financial hobby" mindset, proving that success isn't just about throwing shade at industry giants—it's about stealing their secrets (legally, of course).
On Thursday, Jamie swooped in with a year-end planning episode that'll make spreadsheet skeptics weak in the knees. From converting prospects into clients faster than a compliance officer can say "no" to transforming your practice to a powerhouse, this episode is packed tighter than a financial advisor's calendar during tax season.
Resources in today's episode:
- Episode Website - Compliance ‘Adverse’ [Episode 285] - Year-End Business Planning How To
In this conversation, Jamie Shilanski pulls back the curtain on the ride of entrepreneurship in the financial advisory world. But it's not all spreadsheets and dollar signs. Jamie gets real about the elephant in the room: imposter syndrome. Her solution? Radical transparency and a healthy dose of authenticity – because even the pros were rookies once. Jamie emphasizes that success in financial planning isn't just about knowing your numbers (though that's crucial). It's about getting your hands dirty with real-world experience and crafting a business plan that's more than just a dusty document in your drawer. Advisors need to deliver consistent value to clients – think less "random acts of financial planning" and more "strategic partnership."
Year-End Business Planning How To
Ever wondered how the big players in financial services got to where they are? Matt and Micah dive deep into the secret behind Edward Jones' remarkable success story – and why independent advisors should be taking notes instead of throwing shade. They challenge the common "David vs. Goliath" mindset that often leads independent advisors to dismiss larger firms' achievements and reveal how Edward Jones' strategic playbook can be adapted for independent practice success.
Listen in as they explore the often-overlooked truth about building a thriving advisory practice: it's not just about working harder but working smarter with intentionality.
Compliance ‘Adverse’ [Episode 285]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
Money talks, but sometimes, clients need help finding the right words, and success lies in knowing when to lean in and when to step back. In this recap episode, Amber shares highlights on crypto-curious clients and building your ideal client base. On Monday, Matt and Micah dove into the crypto-elephant in the room: Bitcoin investing. Rather than immediately jumping into a passionate defense (or critique) of digital currencies, they emphasized the importance of first asking, "How much?" Because let's face it - there's a world of difference between satisfying crypto-curiosity with discretionary funds and betting the retirement farm on Bitcoin.
On Thursday, Jamie dropped wisdom on why being a financial advisor isn't about being everyone's cup of tea. Forget the "everyone with a pulse" approach to client acquisition. Jamie challenged advisors to be more discerning, suggesting that if you're serving everyone, you're really serving no one. She painted a vivid picture of the telltale sign you've got the wrong client: that sinking feeling when you see their name on your appointment schedule. (We've all been there, right?).
Resources in today's episode:
- Episode website - Bitcoin [Episode 284] - Encore Episode: Who Are Your Prospects?
What is the number one rule of prospecting? If you serve everyone, then you serve no one! On today’s Worlds To Conquer, Jamie dives into prospecting and how to make sure you’re working with the right people. She’ll also discuss why once you determine who you work best with, you need to share this with your team.
Listen in as Jamie shares why if you have a great prospecting strategy, you can grow and not stay stagnant, and that it’s important to create an environment where your team can respectfully push back.
Encore Episode: Who Are Your Prospects?
Ever wondered why some financial advisors seem to have a sixth sense for their clients' needs? In this episode, Matt and Micah reveal why playing "20 Questions" with your clients isn't just a party game – it's the secret to building a rock-solid investment strategy. Listen in as they share their battle-tested wisdom on guiding clients through the investment maze. They emphasize that understanding your client's "why" is more valuable than jumping on the latest investment bandwagon.
Drawing from their extensive experience, Micah and Matt explain how top advisors build an arsenal of trust and relationship capital that proves invaluable when market storms hit. Their practical insights show why the best financial advisors are part detective, guide, and voice of reason – especially when clients get starry-eyed over the latest investment fad.
Bitcoin [Episode 284]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this recap episode, Amber shares highlights on delegation and personal growth. On Monday, Matt was joined by guest Lisa Seal, Chief Revenue Officer at BELAY, who dove deep into the art of delegation. Lisa shared her personal approach, using her assistant to streamline everything from spreadsheet creation to travel planning, freeing her up to focus on higher-level tasks. The discussion also addressed the all-too-relatable "head trash" that can hold advisors back from fully embracing delegation and the importance of letting go of the need for perfection.
On Thursday, Jamie shared her sage advice on navigating the challenging transition from growth to freedom as an advisor. She emphasized the need to carefully curate your social circle, cutting ties with those who may feel entitled to your success. Jamie also stressed the value of giving team members the skills to have difficult conversations rather than shielding them from hard truths. It's in those moments of discomfort, she argues, that true growth can occur.
Resources in today's episode:
- Episode Website - Mastering the Art of Delegation with BELAY’s Lisa Seal [Episdoe 283] - Whose Table Do You Want a Seat At?
In this conversation, Jamie Shilanski underscores the significance of building meaningful relationships and the role of purpose in life, particularly in the context of professional success and emotional intelligence. Jamie delves into the challenges of balancing work and family life, especially during intense 'surge' periods, and reflects on the changes in relationships and social dynamics that accompany the journey from personal freedom to building an empire. She advocates for a 'no BS' culture in professional settings, where open feedback and accountability thrive, and leaders push their team members towards greatness.
Whose Table Do You Want a Seat At?
In this episode of the Perfect RIA Podcast, Matthew Jarvis and Lisa Seal from BELAY discuss the critical role of delegation in enhancing productivity and efficiency. The discussion explores the unique needs of financial advisors when hiring virtual assistants, offering practical tips for effective delegation and the importance of empowering team members. Lisa encourages viewing delegation as an opportunity for growth and emphasizes the significance of understanding the value of one's time. The conversation also addresses the challenges in delegation, managing turnover, and the crucial importance of documenting processes to ensure seamless transitions, highlighting that mistakes are inevitable, but how we handle them truly matters.
Mastering the Art of Delegation with BELAY’s Lisa Seal [Episdoe 283]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Lisa Seal: Website | LinkedIn -Text RIA to 55123 to get a copy of BELAY’s guide to delegation
In this recap episode, Amber shares highlights about the world of independent advisors and the oh-so-elusive work-life balance (spoiler alert: it might not exist!). On Monday, Ryan Morrissey joined Matt and kicked off our week by sharing his journey from advisor to independent RIA owner, proving that sometimes the scariest leaps lead to the best rewards. His secret for success? A combination of educational marketing through classes (with a dash of direct mail that actually works) and implementing key strategies from The Perfect RIA, like Surge meetings.
Thursday’s episode brought Jamie's honest take on what she calls the "work-life balance myth." She shared how being an advisor means accepting that you can't give 100% to everything all the time. Think of it as a lever - when you're pushing hard at work, especially during Surge seasons, something's got to give on the home front. Her solution? Transparent conversations with family and a strict "no drama" policy at the office.
Resources in today's episode:
- Episode Website - Education, Independence, and Growth with Guest Ryan Morrissey [Episode 282] - Drama, Drama, Drama
Think "work-life balance" is achievable? Jamie Shilanski has news for you—it's time to ditch that myth along with the office drama. Jamie spills the tea on building a financial planning practice that actually works, minus the theatrics. She breaks down how surge periods can transform client engagement from a constant juggling act into a well-oiled machine. And while everyone's entitled to a bad day (we're human, after all), bad behavior gets no free passes. By fostering emotional intelligence and creating a culture where accountability meets support, she shows how letting go of drama-prone team members isn't just acceptable—it's often the secret sauce to leveling up your practice.
Drama, Drama, Drama
From cubicle to cornerstone: Ryan Morrissey shares how he transformed his practice into a success story on this episode of The Perfect RIA. Joining Matthew Jarvis, Ryan opens up about weathering the 2008 financial storm and making the calculated leap to launch his own RIA.
Who says you need a traditional marketing playbook? Ryan reveals how teaching classes and seminars became his secret weapon for client acquisition. He breaks down the productivity-boosting power of Surge meetings, shares his approach to streamlining investment management, and explains how retirement guardrails help clients navigate their spending without losing sleep. Ryan also walks through the realities of going independent and demonstrates how modern marketing tools like podcasting and YouTube can elevate your practice from standard to standout.
Education, Independence, and Growth with Guest Ryan Morrissey [Episode 282]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Ryan Morrissey: Website | LinkedIn
In this recap episode, Amber shares highlights on crucial aspects of running a successful financial advisory practice and insights on hiring and retaining top talent.
On Monday, Matt and Micah emphasized that delivering massive value doesn't happen by chance. They advocated for dedicated business planning sessions that involve four key areas: analyzing current performance with accurate data, setting short and long-term goals, aligning these goals with your ideal life vision, and establishing measurable action steps.
On Thursday, Jamie offered a fresh perspective on hiring in today's competitive job market. She suggested creating a thorough hiring process to identify candidates truly invested in a career change rather than just seeking a job. Jamie provided valuable information on the roles she's consistently hiring for and shared insights on compensation ranges for various positions, from entry-level to senior roles.
Resources in today's episode:
- Episode Website - A Failure to Plan is a Plan to Fail [Episode 281] - What Are We Paying Employees?
In this episode, Jamie Shilanski pulls back the curtain on hiring in financial advisory firms. Diving headfirst into the talent pool, Jamie reveals why cookie-cutter recruiting doesn't cut it anymore. She challenges listeners to flip the script on traditional hiring methods, advocating for out-of-the-box strategies that can unearth hidden gems in unexpected places. But it's not just about getting top talent through the door - it's about keeping them from walking out.
Transparency takes center stage as Jamie makes a compelling case for open compensation talks. She argues that laying all the cards on the table isn't just fair play; it's a great plan for building unshakeable trust with your team.
What Are We Paying Employees?
Resources in today's episode:
- Janine Driver - Ritz Carlton Training - Udemy - Dale Carnegie Training
In this episode, Matt and Micah are sharing a secret of successful financial advisors: effective business planning. They challenge listeners to take a hard look at where they stand and where they're headed, arguing that this clarity is the compass for any successful journey in finance.
Matt and Micah also emphasize aligning your professional goals with your dream lifestyle because what's the point of success if you're not living your best life? They advocate for measuring progress with actionable metrics and creating a game plan that turns lofty ambitions into tangible results. Their message is clear: in the fast-paced world of financial advising, standing still is moving backward.
A Failure to Plan is a Plan to Fail [Episode 281]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this recap episode, Amber shares highlights of a heated debate about Bitcoin's place in financial advising and an insightful exploration of value add strategies during surge periods.
Monday's episode featured a face-off between Matt and guest Isaiah Douglass from Swan Bitcoin, moderated by David Decelle from Model FA. The debate centered on Bitcoin's role in investment portfolios, with Matt expressing skepticism about its utility beyond gambling and criminal activity. In contrast, Isaiah passionately argued for Bitcoin's potential as a transformative technology in human history.
Thursday's encore episode featured Jamie's insights on implementing value adds during surge periods and optimizing post-surge activities. Jamie stressed the importance of planning value adds a year in advance, rotating them every few years to accommodate changing client needs. Post-surge activities include thorough debriefs, analyzing trends in client questions, and fostering team collaboration.
Resources in today's episode:
- Episode Website - The Bitcoin Debate: Risks and Benefits with Guests Isaiah Douglass and David DeCelle [Episode 280] - Encore Episode: Managing Value Adds In Surge
In this episode, Jamie Shilanski explores the nuances of surge scheduling in financial planning, offering valuable insights for advisors looking to enhance their client engagement and team efficiency. She delves into the importance of well-crafted value adds, encouraging advisors to refresh these offerings regularly to maintain their impact. The discussion also highlights the benefits of post-surge debriefs as opportunities to identify areas for improvement and foster a culture of continuous growth. She illuminates the power of effective communication and the value of truly understanding client assets, showing how these skills can uncover new opportunities.
Encore Episode: Managing Value Adds In Surge
Get ready for an eye-opening debate on the world of cryptocurrency! In this conversation, Matthew Jarvis faces off with Isaiah Douglass from Swan Bitcoin, moderated by Model FA's David DeCelle. Together, they unpack the complex and often controversial topic of Bitcoin and its potential impact on financial advisors. The conversation heats up as Matt's skepticism collides with Isaiah's enthusiasm for Bitcoin's possibilities. Is it a revolutionary financial tool or an overhyped digital asset? They explore Bitcoin's various roles - from a store of value to a medium of exchange - and its potential to shake up the financial sector. But it's not all theoretical discussion. The debate tackles real-world challenges head-on, including the looming specter of government regulations and how they might shape Bitcoin's future.
The Bitcoin Debate: Risks and Benefits with Guests Isaiah Douglass and David DeCelle [Episode 280]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Isaiah Douglass: Website | LinkedIn - David DeCelle: Website | LinkedIn
In this recap episode, Amber shares highlights about effective leadership in your practice with your team and maintaining professionalism in client relationships. Matt and Micah kicked off the week by emphasizing the importance of mastering essential skills to elevate your practice. They stressed the significance of setting clear expectations when bringing on new team members, whether they're junior advisors or support staff, highlighted common pitfalls in leadership, such as failing to establish firm boundaries and non-negotiable standards.
The conversation then shifted to professionalism in financial advising, with Jamie Shilanski joined by her father, Floyd. They discussed the unique challenge financial advisors face in succinctly describing their profession compared to other professionals like doctors or lawyers. Floyd shares insights on effectively communicating the value of financial planning services, emphasizing the importance of putting clients first and charging according to the value provided.
Resources in today's episode:
- Episode Website - Learning Opportunity or Time To Go [Episode 279] - A Tangent with Floyd Shilanski
In this episode, Jamie and Floyd Shilanski offer a fresh perspective on professionalism in financial planning. They explore the evolving landscape of the industry, from the growth-focused early stages of an advisor's career to the nuanced expertise of seasoned professionals. They tackle a provocative question: what does it truly mean to be a professional in this field? They argue that recognizing and charging for one's value is not just acceptable, but necessary.
Jamie and Floyd don't overlook the human element of financial advisory. They delve into the art of building trust and strong relationships with clients, acknowledging the emotional aspects that often underpin financial decisions. The conversation also touches on generational differences in approaching finance careers, offering insights into how the profession is perceived and pursued by different age groups.
A Tangent with Floyd Shilanski
In this conversation, Matt and Micah tackle the crucial yet often underestimated topic of leadership and team management in financial advisory practices and explore the transformative impact of establishing clear expectations and firm boundaries with team members. They make a compelling case for why effective leaders must stand unwavering on key issues such as punctuality, integrity, and mutual respect.
Matt and Micah vividly demonstrate how unclear boundaries can lead to team discord, potentially undermining even the most promising practices. They balance these cautionary tales with inspiring insights, emphasizing that exemplary leadership begins with self-accountability and embracing the high standards one expects from others.
Learning Opportunity or Time To Go [Episode 279]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this recap episode, Amber shares highlights about professionalism and navigating reality in a digital world. On Monday, Matt and Micah discussed the often-overlooked aspects of professionalism that can make or break an advisor's success. They emphasized that true excellence lies in the details – from punctuality to dress code and that human connection remains paramount in financial advising. On Thursday, Jamie explored the double-edged sword of technology – its convenience and entertainment value versus its potential for distraction and unrealistic comparisons. Jamie offered practical advice for maintaining a healthy digital balance, including setting time limits for entertainment and using filters to prioritize what truly matters. The discussion serves as a reminder that success isn't about matching others' perceived achievements, but about aligning actions with personal values and long-term goals.
Resources in today's episode:
- Episode Website - Yes, It Is Your Dress [Episode 278] - Is This The Grind?
Feeling stuck in life while everyone else seems to be racing ahead? In this episode of The Perfect RIA podcast, Jamie Shilanski peels back the curtain on the illusion of progress and the pitfalls of comparison in our digital age. Jamie exposes the hidden costs of our attachment to electronic devices and the illusion of others cracking the code. She shares her personal success filters and introduces the game-changing CHER test, a powerful tool to cut through the noise and focus on what truly matters in the long run.
Is This The Grind?
In this episode, Matt and Micah unpack the power of professionalism in the industry. They reveal how the often-overlooked details – a sharp outfit, punctual arrival – can significantly shape client perceptions and build lasting trust. They explore how these seemingly small touches can have a profound impact on client relationships, potentially making or breaking crucial business connections. They also dive deep into the art of leading by example, offering practical advice on how to set and maintain high standards for yourself and your team.
Yes, It Is Your Dress [Episode 278]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this recap episode, Amber shares highlights about the common mistakes financial advisors make, the importance of sales in their roles, and effective communication strategies. Monday's episode featured Matt Delzingaro, host of Coffee with Delzi and a wholesaler with Brighthouse Financial, who shed light on common mistakes advisors make in their practices. Delzingaro emphasized the importance of leveraging wholesaler relationships, proper meeting preparation, and implementing intentional daily routines.
Thursday's episode took a deep dive into the world of sales with Jamie, who challenged listeners to recognize that everyone in the financial industry is essentially in sales. She stressed the critical importance of maintaining integrity in every interaction and focusing on the human aspect of each account. The episode highlighted the significance of building genuine connections with clients and the impact of these skills on closing prospects and retaining clients.
Resources in today's episode:
- Episode Website - From Good to Great: Challenging the Status Quo in Financial Advising with Guest Matthew Delzingaro [Episode 277] - The Art of Selling- Mastering Communication for Sales Success for People in Finance
In this conversation, Jamie Shilanski uncovers the universal truth that everyone, regardless of their profession, is constantly engaged in sales and negotiation. Through personal anecdotes and real-world examples, Jamie reveals the power of authenticity in building trust and forging lasting connections with clients. Learn how to harness active listening and genuine curiosity to gain deeper insights into your client's needs, ultimately strengthening your relationships and business outcomes. Jamie also delves into the critical role of clear communication and empathy in effective leadership and team development. By mastering these skills, you'll enhance your professional life and create a more harmonious work environment.
The Art of Selling- Mastering Communication for Sales Success for People in Finance
In this conversation, Matthew Jarvis and Matt Delzingaro, from Coffee with Delzi and Brighthouse Financial challenge conventional wisdom and urge advisors to rethink their relationships with wholesalers and demand more than just product information. They shine a light on the often-overlooked power of intentionality, revealing how a well-structured day can significantly boost productivity and practice growth.
Matt and Delzi don't shy away from addressing the elephant in the room: complacency. They explore how even advisors with large client bases might be missing opportunities for growth.
From Good to Great: Challenging the Status Quo in Financial Advising with Guest Matthew Delzingaro [Episode 277]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Matthew Delzingaro: Website | LinkedIn - Coffee with Delzi: Matthew Jarvis shares efficiency hacks for high profit margin advisory practice
In this recap episode, Amber shares highlights on an advisor’s unique skills and the importance of rules. Monday's episode featured Andree Mohr, the new president of Integrated, who shared her expertise on building successful partnerships between advisors and CPA firms. Andree offered practical advice on understanding CPAs, adding value, and being purposeful in all interactions. She also encouraged advisors to shift their focus from being busy to being truly productive, emphasizing the importance of prioritizing high-impact activities.
Thursday's episode, featuring Jamie, explored team dynamics and organizational rules. Jamie highlighted how a strong team is crucial for realizing an advisor's vision and outlined key principles for running a successful organization. These included the importance of punctuality, effective meeting practices, and maintaining a professional yet friendly rapport with team members.
Jamie stressed the significance of applying rules consistently across all levels of the organization, cautioning against the negative effects of selective enforcement. She also discussed the delicate balance leaders must strike between trusting their team and providing appropriate guidance as managers.
Resources in today's episode:
- Episode Website - Unlocking an Advisor’s Unique Ability with Guest Andree Mohr [Episode 276] - What Rules Apply And To Who? Leaders Answer
In this episode, Jamie Shilanski dives into the heart of organizational success: team dynamics. With her trademark insight, Jamie reveals how the backbone of any thriving business isn't just about strategy or market position—it's about the people who bring those plans to life. She emphasizes that leadership isn't about making grand gestures but about consistent, day-to-day actions that reinforce the company's values and expectations.
Perhaps most importantly, Jamie tackles the often-overlooked topic of rule enforcement. She explains why consistency in upholding standards isn't just about maintaining order—it's about fostering a culture of fairness and accountability that empowers every team member to excel.
What Rules Apply And To Who? Leaders Answer
In this episode, Matthew Jarvis sits down with Andree Mohr, President of Integrated Partners, to explore the concept of harnessing your unique ability. Andree reveals how top advisors have doubled their practices by laser-focusing on high-net-worth clients and delivering unparalleled value. She also shares the art of storytelling that forges deep connections with clients and influential partners, setting you apart in a crowded field.
Andree emphasizes the critical importance of strategic planning, urging advisors to dedicate a full 30% of their time to activities that propel them toward their goals. She shares insider tips on guarding your precious time and finding the perfect accountability partner to keep you on track.
Unlocking an Advisor’s Unique Ability with Guest Andree Mohr [Episode 276]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Andree Mohr: Website | LinkedIn - The Complexity Curve with Guest Paul Saganey - Moving Up the Complexity Curve: Serving High-Net-Worth Clients with Guest Paul Saganey - Kitces Interview: Building CPA Alliances To Reach A More Affluent Clientele To Serve, With Paul Saganey - Center Stage: How to Become the Star of Your Practice - Connelly Ruling - The Presentation Secrets of Steve Jobs: How to Be Insanely Great in Front of Any Audience
In this recap episode, Amber is sharing the highlights from conversations on annuities and hiring (and firing). On Monday, Matt and Brian dove into the world of annuities, challenging advisors to broaden their financial planning toolkit. They stressed the importance of educating yourself on these products and creating client-facing materials that transparently explain the pros and cons of different annuity options. This approach not only enhances your expertise but also builds trust with clients. On Thursday, Jamie, shared valuable lessons from a recent hiring experience. Jamie's insights underscore the importance of a meticulous hiring process that goes beyond just filling a position. She emphasizes the need to ensure that new team members align with your company's core values and long-term objectives.
Resources in today's episode:
- Episode Website - Annuities: What Every Advisor Needs to Know with Guest Brian Smith [Episode 275] - Hire or Fire?
In this episode of The Perfect RIA podcast, Jamie Shilanski dishes out some hard-earned wisdom from Shilanski and Associates about empowering team members and making smart hiring choices. Recognizing a critical role that needed to be filled, Jamie shared the mistakes made in the hiring process, leading to the wrong person being hired and causing disruptions in the organization. The takeaway? Be picky with your hires, set clear expectations, and don't be afraid to show problematic employees the door.
Hire or Fire?
In this episode of the Perfect RIA podcast, Matthew is joined by Brian Smith, from Foundation Income Associates, an expert in annuities and insurance products. Brian and Matt explore the ins and outs of annuities, debunking myths and highlighting the importance of these often-misunderstood products in financial planning. They touch on the tax implications that can make even seasoned advisors scratch their heads, and stress the need to stay informed or risk becoming the cautionary tale at the next industry conference.
They discuss the importance of understanding and utilizing annuities in financial planning, as well as the potential pitfalls and misconceptions surrounding these products. They also touch on the tax implications of annuities and the need for advisors to stay informed and seek expert advice when dealing with insurance products. The conversation emphasizes the importance of regularly reviewing and reassessing clients' annuities to ensure they align with their goals and provide the best possible outcomes.
Annuities: What Every Advisor Needs to Know with Guest Brian Smith [Episode 275]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Brian Smith: Website | LinkedIn
Amber is recapping this week’s episode highlights. On Monday, Matt dove into the world of bookkeeping with Duff Tucker from Belay, uncovering the common pitfalls small business owners face. They emphasized the importance of professional bookkeeping services, not just for taxes, but for making informed business decisions and preparing for future sales. Duff shared valuable tips on when to bring in a bookkeeper and how to establish a smooth working relationship.
Thursday's episode featured Jamie tackling the age-old struggle of balancing professional development with family life. She shared her savvy strategies for mapping out the year, including surge scheduling and strategic conference attendance. The key takeaway? Time is precious, so plan wisely and communicate openly with your loved ones to achieve both personal and professional growth.
Resources in today's episode: - Episode Website - Dollars and Sense: Why Bookkeeping Matters More Than You Think with Guest Duff Tucker [Episode 274] - I Have No Time
In this episode of The Perfect RIA podcast, Jamie Shilanski tackles the perennial challenge of balancing professional development with family responsibilities. She emphasizes the critical importance of intentional time management and forward planning. Jamie also shares her nuanced strategy for conference attendance, which involves a thoughtful blend of in-person events and online courses, allowing for continuous learning while maintaining a presence at key industry gatherings.
Recognizing the complexities of managing family obligations alongside career growth, Jamie offers practical advice for professionals. Perhaps most crucially, she underscores the importance of open, honest communication with spouses about career goals and commitments, fostering mutual understanding and preventing potential resentment. Through these strategies,Jamie provides a roadmap for professionals seeking to advance their careers without sacrificing family harmony.
I Have No Time
In this episode of The Perfect RIA podcast, Matthew Jarvis and Duff Tucker, Account Services Manager for Belay, discuss the often-overlooked world of bookkeeping for small businesses. Their conversation sheds light on common misconceptions and the genuine value of professional bookkeeping services. Duff emphasizes the importance of business owners focusing on their core competencies while entrusting financial record-keeping to experts.
The conversation covers a range of topics, from the time and mental energy saved by hiring a bookkeeper to the crucial role of accurate financial reporting in business management and growth. Matt and Duff also explore how clean, well-maintained books can be a significant asset in business acquisitions and decision-making processes.
Dollars and Sense: Why Bookkeeping Matters More Than You Think with Guest Duff Tucker [Episode 274]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Duff Tucker: Website | LinkedIn - Connect with BELAY for a Financial Consultation
In this recap episode, Amber is covering this week’s highlights. On Monday, Matt and Micah explored the stark differences between advisors who smash their Big Hairy Audacious Goals (BHAGs) and those who remain stuck. Both groups start with excitement, but only those who embrace hard work and stick to a rigorous process succeed. The importance of having a consistent process was a major point. Believing that an external factor will magically change your situation is futile and avoidance isn’t an option for success.
On Thursday, Jamie dove into intuition in business decisions, particularly in team management. She explained deductive and inductive reasoning, linking intuition to the latter. Jamie advised trusting your gut, especially when it signals someone is a poor fit. If someone consistently feels off and you’re waiting for inevitable conflict, it’s time to let them go for everyone’s benefit.
Resources in today's episode:
- Episode Website - Daydreaming Won’t Make You a Successful Financial Advisor [Episode 273] - Fire Them Already!
In this conversation, Jamie Shilanski discusses the role of intuition in decision-making as business owners. She explains the two types of intuition: deductive reasoning and inductive reasoning, making it clear why listening to your gut is more than just a cliché. Jamie dishes on the workplace drama that is toxicity and its soul-sucking effect on the team, a reminder that a positive environment is non-negotiable. Jamie provides insights into the hiring process and the need for clear job descriptions, onboarding processes, and training programs. Surround yourself with A-level players to cultivate a team that's not just good but downright unstoppable.
Fire Them Already!
Resources in today's episode:
- Shilanski & Associates Careers - Checkr Background Checks
Matt and Micah are breaking down the difference between actual goals and mere fantasies. Why do some financial advisors hit their big hairy audacious goals (BHAGs) while others just daydream? Spoiler: hard work, self-awareness, and a hefty dose of accountability. They emphasize that achieving real goals, unlike fantasies, requires the willingness to put in the hard work. Successful financial advisors don’t just pat themselves on the back; they recognize their weaknesses and know where they need to improve.
Matt and Micah also stress the importance of tracking progress. If you’re not measuring your progress, you’re slacking, because this helps identify where you need to pivot. And yes, even your free time should be somewhat productive—focus on activities that contribute to your personal and professional growth, not just your Netflix queue.
Daydreaming Won’t Make You a Successful Financial Advisor [Episode 273]
Resources in today's episode:
Resources
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn - Bringing Peace Of Mind To Your Prospects And Clients With Guest Paul Moffat
In this week’s recap episode, Amber first revisits Monday's show featuring Dan Murphy from Commonwealth, who shared valuable perspectives on fostering transformational growth and delivering exceptional value in today's evolving advisory landscape. Dan introduces the intriguing concept of the "experience economy" and offers practical strategies for strengthening client relationships in an era increasingly influenced by AI and automation.
The episode then shifts to Jamie's discussion on the various stages of an advisor's career path - from Growth to Freedom to Empire. Jamie provides thoughtful advice on overcoming self-doubt, confidently communicating your worth, and consistently providing value to clients. She highlights the significance of regular self-assessment, effective communication, and maintaining confidence in your unique value proposition.
Resources in today's episode:
- Episode Website - Crafting Unforgettable Client Experiences with Guest Dan Murphy [Episode 272] - Mindset Mastery: Overcoming Barriers to Charging Premium Fees
Are you battling the value and fee demons? In this episode, Jamie Shilanski dives into head trash—those nagging doubts and fears that keep advisors from showcasing their true worth. Jamie shares how delivering knock-your-socks-off client experiences isn't just good service—it's a marketing tactic.
Jamie discusses the stages of an advisor's career—from Growth to Freedom and, finally, the Empire stage. Each comes with its own set of challenges and triumphs.
Feeling like an imposter when it comes to your fees? You're not alone. Jamie tackles the elephant in the room - self-doubt - and arms you with powerful strategies so you can silence that inner critic once and for all.
Mindset Mastery: Overcoming Barriers to Charging Premium Fees
In this episode, Matthew Jarvis sits down with Dan Murphy, Head of Wealth Strategies at Commonwealth, to explore the evolving landscape in financial planning. Gone are the days of product-pushing and binder-heavy financial plans; welcome to the era of experience-driven advisory!
Dan walks through the "Experience Economy," revealing how advisors can transform their practices from mere service providers to architects of memorable client experiences. The industry is rapidly shifting from a product focus to an experience focus, and Dan emphasizes that modern financial planning should revolve around clients' goals and values rather than just charts and numbers.
From the mindset shift required to embrace this new paradigm to the operational changes needed to support it, Dan offers a wealth of insights for advisors at every stage of their careers. He stresses the importance of cultivating genuine curiosity and empathy as crucial tools for understanding clients' needs. Creating positive experiences, Dan explains, requires intentionality in all aspects of client interactions, going beyond providing services to crafting "time well spent" for clients.
Crafting Unforgettable Client Experiences with Guest Dan Murphy [Episode 272]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Dan Murphy: Website | LinkedIn - Financial Planning Experience - Financial Wellness Experience - The Experience Economy by Joseph Pine and James Gilmore
In this episode, Amber recaps two insightful discussions into the heart of success for financial advisors. Monday's conversation featured Dr. Andy Garrett, a licensed clinical psychologist, who joined Matt to explore the often-overlooked internal aspects of achievement. Dr. Andy shared his expertise on reconnecting individuals with their core values and identity. This reconnection, he explained, is key to enhancing both professional and personal performance. A highlight of the discussion was Dr. Garrett's introduction of the "true north" concept, a powerful tool designed to help advisors define their purpose and maintain stability in their careers.
The week's insights continued from Thursday’s episode when Jamie took the helm to discuss the evolution of a financial advisor's career towards the enterprise stage. This crucial phase marks the transition from individual success to building a sustainable, scalable practice. Jamie outlined strategies for this expansion, emphasizing the importance of bringing in and developing new advisors. She stressed that success at this level hinges on an advisor's ability to decentralize command and empower team members, creating a robust foundation for long-term growth and success.
Resources in today's episode:
- Episode Website - True North: Financial Advisors' Path to Value-Driven Success with Guest Dr. Andy Garrett - Building an Enterprise Office
In this episode, Jamie Shilanski unveils a roadmap to success for financial advisors aiming to scale their practices. She outlines three crucial stages every advisor must navigate to achieve long-term growth and build a lasting legacy in the financial services industry.
The journey begins with the growth stage, where advisors focus on turbocharging client acquisition. As they progress to the freedom stage, the emphasis shifts to optimizing processes for scalability. The final enterprise stage is where financial advisors truly build a self-sustaining firm. Jamie explores techniques for empowering team members to run the practice and teaches how to decentralize command for maximum scalability and impact. Throughout the episode, Jamie underscores three key principles for success: diligently documenting processes, consistently delivering massive value to clients, and attracting advisors who share the same values. These elements, she argues, are essential for navigating each stage and ultimately building a thriving, scalable financial advisory practice.
Building an Enterprise Office
Resources in today's episode:
- Raving Fans by Ken Blanchard
Matt sits down with Dr. Andy Garrett, a licensed clinical psychologist, in a profound discussion about the transformative power of aligning actions with core values. Together, they unpack the psychology behind success, offering financial advisors a fresh perspective on achieving sustainable growth.
Central to their conversation is the concept of discovering one's "true north" - a process of identifying and adhering to core values that can drive both personal satisfaction and professional success in the financial advisory industry. Dr. Andy and Matt challenge the conventional wisdom that external success alone guarantees fulfillment. Instead, they propose a more holistic approach: by aligning your practice with your values, you can unlock unprecedented growth and cultivate a deeper sense of purpose.
The discussion extends beyond theory, exploring how core values can practically shape every facet of a financial advisory practice. From nurturing client relationships to structuring the overall business model, they illustrate how a value-driven approach can revolutionize the way advisors operate and thrive in their field.
True North: Financial Advisors' Path to Value-Driven Success with Guest Dr. Andy Garrett [Episode 271]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Andy Garrett: LinkedIn | Website - The Power of Masterminds with Guest Aaron Walker - What Works Wednesday with Aaron Walker
In this week's recap of The Perfect RIA podcast, Amber highlights key insights for financial advisors focusing on growth and success. Monday's episode features Matt and guest Aaron Palmer discussing impactful value-add strategies, including conducting unclaimed property searches during client meetings and using unique communication methods. Aaron also shares his personal journey to sobriety, sparking a discussion on industry challenges like addiction and work-life balance.
Thursday's episode, led by Jamie, explores the transition from the growth stage to the freedom stage in an advisor's career. Key concepts include client selectivity, overcoming the "shopkeeper mentality," and implementing effective systems. This stage allows advisors to focus on high-value activities while trusting their team and processes.
Resources in today's episode:
- Episode Website - The Ripple Effect of Positive Change and Impactful Value Adds with Guest Aaron Palmer [Episode 270] - Will I Ever Experience Freedom as a Business Owner?
In this episode, Jamie Shilanski discusses the coveted "Freedom Stage" of a financial advisor's career—a pivotal phase achieved through strategic growth and measurable success. Jamie explores how top-performing advisors leverage their achievements to revolutionize their practices, focusing on three key areas: cultivating discerning client relationships, achieving work-life balance, and implementing robust systems for sustainable growth.
The episode dives into critical mindset shifts and practical strategies that propel advisors from the daily grind to true professional freedom. Jamie addresses the common "shopkeeper mentality" that often holds advisors back, offering guidance on building and trusting a capable team to drive the practice forward, even in the advisor's absence. By mastering selective client relationships and harnessing the power of efficient processes, advisors can scale their businesses effectively.
Will I Ever Experience Freedom as a Business Owner?
In this episode, Matthew Jarvis is joined by Aaron Palmer, a financial advisor whose journey intertwines professional success with personal growth. Aaron shares a deceptively simple yet powerful strategy for adding exceptional value to client relationships, demonstrating how uncomplicated approaches can dramatically enhance client satisfaction and loyalty.
But Aaron's story goes beyond financial strategies. In a candid and inspiring segment, he opens up about his personal triumph over addiction, illustrating the profound impact that personal growth can have on a financial advisor's career trajectory. This raw and honest discussion serves as a testament to the importance of holistic development in the financial advisory field.
Drawing from his experiences, Aaron advocates for a multifaceted approach to success. He encourages advisors to leverage proven success models, learning from and implementing strategies used by top-performing professionals. Moreover, Aaron emphasizes the critical role of strategic delegation, teaching advisors to identify and outsource tasks that may hinder growth, thereby allowing them to focus on high-value activities.
The Ripple Effect of Positive Change and Impactful Value Adds with Guest Aaron Palmer [Episode 270]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Aaron Palmer: LinkedIn | Website - Many Are The Wonders - Ethan Hallmark - Driven by Douglas Brackmann - Who Not How by Dan Sullivan
In this recap, Amber’s highlighting this week’s focus on marketing and growth. On Monday, Matt and Micah challenged the notion that flashy websites and graphics are the key to success. Instead, they emphasized the importance of substance and authenticity in marketing efforts. Learn why committing to a well-thought-out strategy for at least a year can yield significant results.
On Thursday, Jamie discussed that for advisors in the growth stage, it’s all about being intentional with getting more clients and on niche development. Find out how defining your target audience precisely can set you apart in a crowded market and attract ideal clients. Jamie also shared innovative approaches to referral generation, including how to engage with clients in ways that naturally lead to referrals and educating centers of influence about your services.
Resources in today's episode:
- Episode Website - Not Bringing on New Clients? It’s Because You’re Playing Office [Episode 269]- How to Grow Your Practice
In this conversation, Jamie Shilanski breaks down the advisor journey into three pivotal stages: growth, freedom, and enterprise, offering invaluable insights for advisors at every level.
Jamie emphasizes that the foundation of a thriving practice lies in the growth stage, where effective communication and strategic marketing take center stage. Financial advisors looking to supercharge their client acquisition must laser-focus on defining a crystal-clear target audience, becoming the go-to expert in a specific niche, and crafting compelling marketing messages that resonate with potential clients.
- How to Grow Your Practice
Resources in today's episode:
- Niche Slapped
In this episode, Micah and Matt are digging into the world of marketing for financial advisors. They reveal why flashy graphics and social media likes aren't enough to grow your practice – it's all about delivering real value and mastering the art of communication with prospects.
They emphasize the importance of answering prospects' burning questions to build trust and credibility, and encourage advisors to explore diverse marketing channels, from social media and podcasts to impactful in-person events, while stressing the need to commit to chosen strategies for the long haul to see meaningful results.
- Not Bringing on New Clients? It’s Because You’re Playing Office [Episode 269]
Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
In this recap episode of The Perfect RIA podcast, Amber Kuhn highlights key insights from this week. On Monday, Danny Lorfink, co-founder of Wealth.com, joined Matt to discuss how their estate planning tool can help advisors provide more value to clients. The platform allows advisors to maintain a "quarterback" position in estate planning discussions without crossing legal boundaries. Financial advisors are encouraged to view estate planning as an essential component of any comprehensive financial plan.
On Thursday, Jamie emphasized the importance of the "authority principle" in building client trust. This approach can be particularly valuable when discussing complex topics like estate planning with clients and helps your clients feel more confident in working with you.
Resources in today's episode:
- Episode Website - Streamlining Estate Planning with Technology with Guest Danny Lohrfink [Episode 268] - The Power of Authority - Why We Follow Experts
Jamie Shilanski is exploring the critical intersection of professionalism and likability in the world of financial planning. With a spotlight on estate planning, she offers expert insights that every financial advisor should consider. The episode unpacks the powerful 'authority principle,' revealing how perceived authority and trust can make or break a financial advisor's relationship with clients.
But it's not just about numbers and legal jargon. Skilled financial advisors can address their clients' deepest uncertainties and provide emotional relief through comprehensive estate planning. Jamie's advice underscores the importance of empathy and understanding in delivering top-notch financial guidance.
The Power of Authority - Why We Follow Experts
In this episode, Matthew Jarvis sits down with Danny Lohrfink, the innovative co-founder of Wealth.com, to explore how financial advisors can improve their practice through estate planning. Matt and Danny dive into estate planning as a crucial yet often overlooked area where financial advisors can provide immense value to their clients. They discuss how Wealth.com's cutting-edge technology is simplifying the complex world of estate planning, making it more accessible and efficient for both advisors and clients.
Throughout the conversation, you’ll hear inspiring accounts of financial advisors who have successfully integrated estate planning into their services, enhancing client relationships and boosting their bottom line.
Streamlining Estate Planning with Technology with Guest Danny Lohrfink [Episode 268]
Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Danny Lohrfink: Website | LinkedIn
In this week's insightful recap, Amber shares key takeaways. Monday's episode features Matt and Micah tackling an intriguing question: Are financial advisors overly focused on investments due to difficulties providing value in other areas? They challenge the traditional mindset, suggesting that true success lies not in beating the market, but in creating portfolios clients can confidently stick with long-term.
Thursday's episode introduces Jamie's valuable "Rule of Two" concept for strengthening client relationships. This simple yet powerful rule suggests that when a client asks the same question twice, it's time to pick up the phone. Jamie explains why repeated inquiries often signal underlying concerns and how personal communication can demonstrate your value and boost client retention.
Resources in today's episode:
- Episode Website - All Investment Management is Playing Office [Episode 267] - Why Advisors Lose Clients
In this episode, Jamie Shilanski introduces the 'rule of two,' a valuable principle for financial advisors looking to enhance their client relationships. Jamie shares an intriguing anecdote about a fishing lodge, where strict management led to staff discontent. She cleverly ties this to the financial advisory world, illustrating how inflexibility can negatively impact client satisfaction.
The episode goes beyond simple dos and don'ts. Jamie dives into the importance of meaningful communication and challenges advisors to go beyond surface-level interactions, emphasizing that genuine connection comes from addressing the heart of clients' questions and worries.
Why Advisors Lose Clients
Micah and Matt are challenging the industry's fixation on Assets Under Management (AUM). They explore how financial advisors can shift their focus from pure investment management to holistic financial guidance. They emphasize the crucial role of effective communication between advisors and clients and they introduce innovative frameworks like the five-year rule and 5% distribution rule, which empower clients to actively participate in their retirement planning. These frameworks aim to foster better understanding and more informed decision-making.
Micah and Matt also strongly advocate for advisors to invest alongside their clients, using the same models and assets they recommend. This strategy not only builds trust but also demonstrates genuine confidence in the advisor's investment choices.
All Investment Management is Playing Office [Episode 267]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn
In this recap episode, Amber shares the highlights and action items from this week. On Monday, Matt and Steven Jarvis, CPA discussed common IRA mistakes and tax planning strategies. They emphasized the importance of careful handling of rollovers, understanding the 60-day rule, and annual review of clients' tax returns. On Thursday, Jamie focused on communication strategies for financial advisors. She highlighted the importance of delegating tasks effectively, prioritizing high-value activities, and establishing clear communication policies within a practice. Jamie emphasized creating an environment where team members can comfortably follow up on tasks and the need for regular team meetings. She underscores that mastering these communication skills is essential for advisors aiming to boost productivity, increase revenue, and build a high-performing team.
Resources in today's episode:
- Episode Website - Intentional Tax Planning and Avoiding Costly Mistakes with Guest Steven Jarvis, CPA [Episode 266] - Employees: Following Up or Nagging? Is There a Difference?
In this episode, Jamie Shilanski shares the weapon that top-performing financial advisors use to skyrocket their productivity: strategic delegation. Discover why hiring the right support staff is crucial for advisors looking to focus on high-value tasks and grow their business exponentially.
Communication takes center stage as Jamie emphasizes the critical importance of setting crystal-clear expectations and establishing robust communication policies with your team. Learn the fine art of effective follow-up, distinguishing it from mere nagging, and discover how consistent, respectful communication can ensure task completion and drive success.
Employees: Following Up or Nagging? Is There a Difference?
In this episode, Matthew Jarvis teams up with Steven Jarvis, CPA, from Retirement Tax Services, to unveil the hidden pitfalls of IRA management that could cost your clients dearly. Discover how to navigate IRA rollovers without wiping out your client's retirement dreams. Learn why treating your client's IRA like a personal piggy bank is a recipe for disaster, and how to avoid these self-dealing traps. You'll also gain insights into transforming your practice through proactive and intentional tax planning strategies that set you apart from the competition. Don't let tax complexities derail your clients' financial future.
Intentional Tax Planning and Avoiding Costly Mistakes with Guest Steven Jarvis, CPA [Episode 266]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Steven Jarvis: LinkedIn | Website - 8606 Masterclass - 37 Point Masterclass On Reviewing Tax Returns - 2nd Annual Tax Summit
In this Follow-up Friday episode, host Amber recaps key takeaways from this week’s episodes.
Monday, Matthew Jarvis was joined by Tracy Lownsberry from Annuity Giants, who stressed the importance of mastering annuity fundamentals. Tracy encourages advisors to prioritize client needs over commissions and thoroughly analyze scenarios, demonstrating how expert leadership can enhance both client satisfaction and advisor success.
The episode then explores the universal traits of successful individuals, as discussed by Jamie. She emphasizes the importance of optimism, resilience, and strategic goal-setting for financial advisors. Jamie also highlighted the role of constructive criticism in leadership and offers tips on improving discipline and task prioritization.
Resources in today's episode:
- Episode Website - The Annuity Conversation with Guest Tracy Lownsberry [Episode 265] - How to Achieve Success in 2 Steps
In this episode, Jamie Shilanski reveals two crucial traits of successful financial advisors: optimism and grit. She debunks the myth that success comes from innate talent, instead emphasizing the power of a winning mindset.
Jamie explains that true optimism in leadership goes beyond positivity and involves strategic goal-setting and actionable plans. She also highlights the importance of grit—the discipline and tenacity needed to prioritize tasks that drive long-term success. Jamie shares insights on proactive goal-setting, avoiding unproductive "office play," and aligning actions with future aspirations.
How to Achieve Success in 2 Steps
Matthew Jarvis is joined by guest Tracy Lownsberry, from Up North Retirement and Annuity Giants to explore the critical role of annuities in wealth management. Tracy emphasizes the need for financial advisors to deeply understand annuity products, including their guarantees, contractual obligations, and performance-driven elements.
Throughout the discussion, Tracy highlights critical strategies for advisors: setting realistic client expectations when incorporating annuities into wealth plans, carefully selecting reputable carriers to ensure long-term financial security, and considering partnerships with insurance specialists to provide comprehensive solutions. Tracy encourages financial advisors to broaden their perspective on annuities, positioning them as valuable tools in holistic wealth planning. He stresses the importance of continuous learning about these products to build trust with clients and enhance overall wealth management strategies.
The Annuity Conversation with Guest Tracy Lownsberry [Episode 265]
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Tracy Lownsberry: Website | LinkedIn - Mindset by Dr. Carol Dweck - Positive Words, Powerful Results by Hal Urban
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
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
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
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
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
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
Craving a six-pack of clients? In this power-packed episode, experts Matt and Micah reveal the jaw-dropping parallels between sculpting a shredded midsection and mastering the art of prospecting for financial advisors. They’re shattering myths and demolishing excuses, proving that intentional, gut-busting work is the only path to prospecting prowess. Discover how hyper-focused tracking, strategic time investment, and an unshakable commitment can transform your prospecting game from flab to fab.
Whether you're a newbie or a seasoned pro, this episode is a genuine game-changer packed with real-world wisdom from the trenches of prospecting. Stop wishing for an endless pipeline of dream clients, and start taking action today!
What Do Prospecting and Six-Pack Abs Have in Common? [Episode 258] Resources in today's episode:
- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn - One-Page Plan Masterclass - Delivering Massive Value by Matthew Jarvis - What’s In It For Them by Joe Polish - Entrepreneurs on Fire with John Lee Dumas
In this recap episode, Amber shares insights to help financial advisors in their hiring strategy and streamline their client onboarding process to set the stage for a rewarding advisory relationship.
On Monday's episode, Matt and Claire Myers Vitale dove into compensation and team-building strategies tailored for financial advisors. They emphasized the importance of understanding the true value you provide to clients and aligning your team's goals and incentives with that value proposition. Their discussion also focused on optimal timing for hiring, crafting an attractive compensation package, and differentiating your firm with unique benefits that resonate with top talent during the recruiting process.
Thursday's encore "Worlds to Conquer" episode featured Jamie walking listeners through the critical client onboarding phase. She stressed the importance of setting clear expectations from the outset and consistently delivering value that exceeds those expectations. She also provided insights on setting standards for client interactions that foster trust and reinforce your firm's commitment to exceptional service.
Whether you're a seasoned financial advisor or just starting out, this information-packed episode offers actionable strategies to elevate your client onboarding experience, build a high-performing team, and cement your firm's reputation for delivering unparalleled value.
Resources in today's episode: - Episode Website - Recruitment and Creating a Strong Value Proposition with Guest Claire Myers Vitale - Encore Episode: Client Onboarding - Creating A Solid Foundation
In this Encore episode of Worlds to Conquer, Jamie Shilanski unveils the game-changing strategies that will revolutionize how you set expectations and deliver massive value during the critical client onboarding phase. She shared her firm's dynamic approach to crafting unforgettable first impressions that lay the foundation for long-lasting, trust-based relationships.
Jamie's blueprint covers all bases, from estate planning and cash flow management to insurance – a comprehensive roadmap for building an unshakable financial house that withstands any storm. With candid insights and actionable tips, this episode is a masterclass in setting boundaries, managing expectations, and delivering value that resonates deeply with clients. Jamie's wisdom will improve your onboarding process whether you're a seasoned pro or just starting. Listen in to gain a competitive edge and craft onboarding experiences that leave a lasting impression!
Encore Episode: Client Onboarding - Creating A Solid Foundation
In this episode, Matthew Jarvis and Claire Myers Vitale, the hiring guru from Claire Myers Consultation, unveil the secrets to assembling a high-performing team. They dive into the art of hiring and share invaluable strategies to attract top talent and create a powerhouse advisory firm.
Hiring the right people is a game-changer, but it's easier said than done. Claire and Matthew break down the hiring process, emphasizing the importance of aligning compensation structures with your practice's unique needs. They also explore the immense value an executive assistant can bring to your team.
In today's competitive job market, having a strong value proposition is crucial for attracting top financial advisors. Claire and Matthew discuss how to craft an irresistible offer, from competitive compensation and benefits to unique perks like flexible schedules, work-from-home options, and even sabbaticals or community service days. Credentials are important, but culture fit is king. Claire shares tips on evaluating candidates for their ability to mesh with your firm's values and work style.
Whether you're building a team from scratch or expanding your existing roster, this episode is packed with actionable insights to help you assemble a dream team who will drive your practice to new heights.
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Recruitment and Creating a Strong Value Proposition with Guest Claire Myers Vitale [Episode 257] Resources in today's episode:
-
Matt Jarvis: Website | LinkedIn - Claire Myers Vitale: LinkedIn | Website - Wealth Management Recruiting Info - 2023 Compensation Study - Junior Advisor Masterclass
In this Follow-up Friday episode, Amber recaps the week's insights into client experience, communication, and process optimization for financial advisors. The episode dives into client communication strategies. Micah's script for explaining the path to success underscores the significance of credibility and leveraging client references to build trust. He and Matt tackled the challenge of handling unfamiliar client questions, emphasizing the importance of validating inquiries and confidently delivering helpful responses.
Another key takeaway is the value of experiencing processes from the client's perspective. Jamie advocated for advisors to immerse themselves in these experiences to enhance the overall user journey. She also stressed the importance of training teams to uphold service excellence and emphasize continuous learning from industry peers.
By embracing these principles—from effective communication scripts to firsthand client experiences—advisors can transform their practice, fostering stronger client relationships and elevating service standards.
Resources in today's episode: - Episode Website - Bad Ways to Answer Clients [Episode 256] - The Power of Rolling Up Your Sleeves: Why Doing the Work Yourself Matters
In this Worlds to Conquer episode, Jamie discusses the pivotal role of client experience in financial advising. She underscores the necessity of building from the ground up and encourages advisors to immerse themselves in the client's journey to truly understand their needs and perspectives.
Exploring parallels with other industries like construction, she discusses how understanding a client's journey, whether opening accounts or building a house, can elevate advisors' ability to provide tailored guidance. Jamie's advice is clear: walk in the client's shoes. By undergoing processes as clients themselves, advisors can gain invaluable insights, fostering empathy and refining problem-solving skills crucial for exceptional service. Continuous improvement, she emphasizes, is key to delivering an unparalleled client experience.
The Power of Rolling Up Your Sleeves: Why Doing the Work Yourself Matters
In this episode of The Perfect RIA, Micah and Matt dive deep into the art of effective client communication for financial advisors. They stress the critical role of intentional communication in delivering tangible value to clients and helping them reach their financial aspirations. Handling tough questions is a key topic, where they underscore the necessity of maintaining client trust through prompt follow-ups and confidence, even when the answer isn't immediately clear.
Micah and Matt emphasize the power of advisors knowing their niche and tapping into resources for accurate, reliable information. They reveal how implementing streamlined systems can ensure consistent, impactful client interactions. Moreover, this episode explores practical strategies for handling client questions and concerns. Micah and Matt stress the importance of preparation and thorough research to deliver impactful answers. They share insightful stories, like navigating complex tax scenarios, and emphasize the crucial role of understanding cash flow in retirement planning.
This episode is a must-listen if you're a financial advisor looking to transform your client interactions. Share it with your colleagues to elevate everyone's practice to new heights. Tune in for actionable insights that can redefine the way you communicate and serve your clients.
Bad Ways to Answer Clients [Episode 256] Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn - Estate Planning Masterclass
Join Amber in this episode of The Perfect RIA as she recaps the week's essential insights for financial advisors. Discover the significance of prioritizing client goals over investments and delegating investment decisions. Streamline your investment review process and communicate effectively with clients. Learn how intentional and focused marketing efforts can elevate your business planning and the secrets to success by planning your business and marketing calendars in advance. Tune in now for actionable strategies to transform your practice!
Resources in today's episode: - Episode Website - How Investments Work With Your Clients [Episode 255] - When Marketing Works
Join Jamie in this episode of The Perfect RIA, where she dives deep into the dynamic world of marketing for financial advisors. Discover why keeping the momentum in marketing and content creation is crucial for business planning success. Learn how setting clear objectives and active listening can amplify your marketing efforts. Gain insights into using client vocabulary to connect effectively and capture their questions for content creation. Tune in for expert tips on maintaining consistency in marketing and building a robust content reserve. Elevate your practice with strategic marketing strategies today! When Marketing Works
Dive into the latest episode of The Perfect RIA podcast, where hosts Matthew Jarvis and Micah Shilanski uncover the crucial role of comprehensive planning for financial advisors. Step away from the typical investment-centered mindset and learn why prioritizing cash flow, risk management, taxes, and income should take the lead. Discover how effective communication can shift the focus from investments to holistic financial wellness.
In this engaging discussion, Jarvis and Shilanski shed light on the pitfalls of fixating solely on investment details and the power of messaging in shaping client perceptions. Explore strategies to align investments with clients' unique goals and values, steering clear of the 'playing office' syndrome. It's time to take action and implement client-centered strategies that truly make a difference. Tune in now to elevate your practice and serve your clients better!
How Investments Work With Your Clients [Episode 255] Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn - One-Page Plan Masterclass
In this Follow-Up Friday episode, Amber is recapping this week’s highlights and action items, focusing on optimizing client meetings, communication, and value-driven planning. Matt and Michael stressed the significance of a structured client onboarding process, detailing its pivotal role in ensuring success for both advisors and clients while also outlining key steps and meeting protocols. Jamie explored tax planning strategies and advocated for collaborative efforts with CPAs to offer holistic financial advice. She emphasizes the importance of obtaining client authorization letters and shares practical tips for maximizing the value derived from 1099s. Throughout the discussion, effective communication emerges as a cornerstone, underscoring its role in delivering tailored solutions and nurturing enduring client relationships. Resources in today's episode: - Episode Website - Masterclass Sneak Peek Part 2: Prospect Process and Client Onboarding [Episode 254] - Creating Value Adds from the Tax Return
In this episode, Jamie shares invaluable insights for navigating the complexities of tax season while delivering unparalleled value to clients. Advocating for the strategic utilization of surge periods, she emphasizes the importance of dedicated time blocks for meeting clients and ensuring their needs are met comprehensively, alongside prioritizing client information security through secure portals and encryption protocols. Listeners will discover the power of collaboration with CPAs, fostering holistic financial advice and optimizing tax strategies through a clear differentiation between tax advice and planning. Jamie offers practical tips for implementing value-added services, including a comprehensive 1099 checklist, setting clear client deadlines, and utilizing structured homework sheets, all while emphasizing the importance of spot-checking information accuracy and crafting compelling net worth reports to resonate deeply with clients.
Creating Value Adds from the Tax Return
In this Masterclass sneak peek episode, Matt and Micah unveil their masterful approach to client onboarding, offering a glimpse into their proven strategies. They underscore the significance of structured processes and transparent communication in fostering client trust and satisfaction. Micah delineates his method, which involves distinct meetings tailored to estate planning, risk management, retirement income, investments, and taxes, ensuring comprehensive coverage of client needs. Meanwhile, Matt prioritizes swiftly integrating clients into the standard client rotation while tackling essential financial planning aspects. Throughout their discussion, the duo highlights the paramount importance of effective communication and delivering tangible value to clients at every step of the onboarding journey. Remember to email lifestyle@theperfectria.com so you don’t miss this, or any, masterclass release Masterclass Sneak Peek Part 2: Prospect Process and Client Onboarding [Episode 254] Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn - Don’t miss out on our upcoming Prospect Process Masterclass. Contact lifestyle@theperfectria.com to stay informed.
In this recap episode, Amber shares the discussion between Matt and Kelly Clements on the correlation between a healthy marriage and a thriving business, the concept of the ambition gap, and how entrepreneurs can integrate their spouse into their business. She’s also recapping Jamie’s episode on the importance of radical candor and accountability in client relationships.
Resources in today's episode: - Episode Website - Nurturing Relationships as an Entrepreneur with Guest Kelly Clements [Episode 253] - How Are You Accountable When You Make a Client Mistake? - Join us for TPR LIVE on September 25th!
In this episode, Jamie discusses the importance of surge in her financial advisory practice and how it helps them deliver deep-focus work. The conversation then shifts to the benefits of having a hybrid office, the value of hiring military wives and dependents, and the positive impact they have on their team. Jamie then shares the importance of accountability and radical candor in their office culture, especially when mistakes are made. She emphasizes the need for transparency and accountability for mistakes to maintain client trust and satisfaction.
How Are You Accountable When You Make a Client Mistake? Resources in today's episode: - Surge Masterclass - Radical Candor by Kim Scott
In this episode, Matthew is joined by author and coach, Kelly Clements about the challenges faced by entrepreneurs in maintaining a healthy work-life balance and nurturing their relationships. Kelly shares her personal experiences as an entrepreneur and partner, highlighting the importance of play and shared activities in strengthening relationships. She emphasizes the need for entrepreneurs to view their family as their greatest asset and to avoid treating their spouse as an employee. Kelly also discusses the concept of the unhealthy alpha and provides insights on how to identify and shift away from unhealthy alpha traits, as well as the term breadcrumbs to the muse and how they can enhance relationships.
Nurturing Relationships as an Entrepreneur with Guest Kelly Clements [Episode 253] Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Kelly Clements: Website | LinkedIn - Grow Your Business Without Growing Apart: Book | Course - Steven Kotler Flow
In this recap episode, Amber discusses the importance of advisors viewing themselves as business owners and looking at their practice from a business perspective. She explores the topic of outgrowing clients and the challenges of segmenting clients based on service levels and fees. The conversation then shifts to the value that advisors provide and the client's choice to pay for that value. Finally, she explores the topic of receiving and delivering criticism, emphasizing the importance of constructive feedback and open communication.
Resources in today's episode: - Episode Website - Upgrade, Graduate, or Just Keep Playing Office [Episode 252] - How To Take A Hit
In this episode, Jamie Shilanski discusses how to receive criticism, especially when it is delivered publicly. She emphasizes the importance of resilience and choosing when to respond and when to let criticism go. Jamie also explores the impact of online public reviews and the vulnerability that comes with success. She shares personal experiences with criticism, which led to this episode, and offers strategies for delivering and receiving constructive feedback. How To Take A Hit Resources in today's episode: - The Perfect RIA Podcast on Apple
In this episode, Matt and Micah discuss the importance of taking action in your financial planning practice. They emphasize the need for advisors to think like business owners and make decisions that align with their core beliefs and values. They run through the challenges of segmenting clients and the potential pitfalls of doing so. Listen in as they provide practical advice on how to analyze your client list and identify red, yellow, and green clients and offering opportunities for clients to upgrade.
Upgrade, Graduate, or Just Keep Playing Office [Episode 252] Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn | Twitter- Join us in September for TPR LIVE!
In this episode, Amber recaps this week’s highlights. She reminds us why critical thinking and pushback are important in the financial industry and why advisors need to question traditional practices and ensure that they deliver value to clients. There’s a balance between providing certainty and acknowledging the market's uncertainty. Amber also recaps why you need to filter the advice you receive—whether you need to walk away from information or check your ego so you can improve your personal growth.
Resources in today's episode: - Episode Website - Economic Commentary - You Can’t Say That!
In this episode of Worlds to Conquer, Jamie discusses the importance of candid conversations and not being easily offended. She emphasizes the value of seeking knowledge and experience from those who have walked the path before. Jamie shares the story of how The Perfect RIA podcast started and why you need to find others who have the same growth mindset as you, as well as be open to improvement and constructive criticism.
You Can’t Say That! Resources in today's episode: - Delivering Massive Value
In this episode, Matt and Micah discuss the importance of critical thinking in financial planning and the necessity of being open to challenging discussions within your practice. They advocate for assessing whether your current strategies truly deliver substantial value to your clients and that trying to predict the markets is akin to predicting the lottery; instead, advisors need to focus on long-term economic trends and how they impact clients' goals. Listen in as they highlight the importance of balancing knowledge and translating that into actionable advice
Economic Commentary Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn | Twitter - A Random Walk Down Wall Street - Stocks for the Long Run
In this week's recap episode of The Perfect RIA, Amber Kuhn shares the crucial aspect of delivering massive value in prospect meetings and the importance of shifting the focus from the Advisor to the prospect's goals and concerns. Amber emphasizes the need to truly listen to prospects, understanding their unique situations, and tailoring solutions accordingly.
Furthermore, Amber explores the pivotal role of documentation in the financial advisory industry. Proper documentation not only ensures compliance but also serves as a valuable tool for both advisors and clients to track progress, revisit agreements, and mitigate misunderstandings. She shares insights on how meticulous documentation can help advisors avoid mistakes and uphold professionalism in their practice.
Resources in today's episode: - Episode Website - Throwback: Show Me The Beef! [Episode 250] - Not Documented, Not Done
In this episode, Jamie Shilanski dives deep into the critical role of documentation in the success of any business. Drawing from the experience of Shilanski Associates, Jamie showcases the transformative power of comprehensive CRM systems like Infinity and outlines the SOAP method for effective note-taking. By implementing effective documentation practices and leveraging advanced CRM systems, businesses can enhance efficiency, mitigate risks, and elevate client service standards.
Not Documented, Not Done
As an advisor, you get the opportunity to transform someone’s life in just one hour. But the key is to make sure you're spending that hour as wisely as possible. So today, Matthew and Micah dive into what to do in prospect meetings and how to improve the value you add during those meetings.
Listen in as the guys discuss some of the common issues that pop up in prospect meetings, as well as how you can avoid key mistakes. You'll get tips on listening better, understanding your clients' needs, and delivering value from the start. They also share from their own experiences with prospects to help you get a better understanding of how to block out distractions and get to the core issues your client needs to address. Throwback: Show Me The Beef! [Episode 250] Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn | Twitter - Estate Planning Masterclass - Junior Advisor Masterclass
In this episode, Amber discusses the key takeaways from a recent podcast episode with a special guest, David Gow. David and Matt explored the role of a financial advisor and the importance of building trust with clients. David emphasizes the power of asking the right questions and understanding each client's unique needs. Amber also shares insights from Jamie on Surge scheduling and the importance of being intentional with client meetings. She highlights the need for recovery and setting boundaries to avoid fatigue.
Resources in today's episode: - Episode Website - Client Relationships And Connections With Guest David Gow [Episode 249] - How Surge Fails - Join us for TPR LIVE on September 25th! - Looking for more virtual training? Sign up for our Junior Advisor Masterclass
In this episode, Jamie shares how Surge can go off the rails. She emphasizes how advisors must deliver massive value to clients, be intentional with time, and run a profitable practice. The concept of Surge, which is time blocking on steroids, is introduced as a way to meet with clients and prospects when it makes the most sense in their lives. Still, with this, Jamie points out the importance of creating inflexible surge rules and conducting after-action reports to evaluate and improve surge performance.
How Surge Fails Resources in today's episode: - The Tipping Point by Malcolm Gladwell - Jordan B Peterson Podcast - Worlds to Conquer - When I Surge, You Surge, We Surge
In this episode, David Gow, a financial planner from Scotland, joins Matthew Jarvis to share his client meeting process. Matt and David discuss the similarities in financial planning processes across different countries and the importance of building trust with clients. David shares his experience of self-reflection and how it led to a deeper understanding of his clients' needs and highlights the value of asking powerful questions and ending client meetings with an empathetic question.
Client Relationships And Connections With Guest David Gow [Episode 249] Resources in today's episode:
- The Complexity Curve with Guest Paul Saganey - Two Most Important Parts of a Surge Meeting
In this recap episode, Amber discusses the importance of intentional communication with clients and the value of simplifying complex topics. She then explores the topic of Roth conversions and taxes, emphasizing the need for annual conversations with clients. Amber then transitions to the implementation of Surge meetings, the benefits they provide for clients and advisors, and when is the best time to schedule them throughout the year.
Resources in today's episode: - Episode Website - Throwback: Roth Conversions [Episode 248] - The Perfect Surge Dates
In this episode, Jamie discusses the concept and implementation of Surge, as well as when is the most appropriate time for Surge meetings. Surge is a time-blocking strategy that allows advisors to optimize their schedules and deliver value to clients. Jamie shares the origins of Surge and how it has evolved over the years within their office. She’s also sharing a detailed surge schedule that includes specific months for surge periods based on when it works best for the client and allows them to be at their best.
The Perfect Surge Dates
Sometimes we can get caught up in our own heads in a way that keeps us from focusing enough on the end client delivery. So today, Matthew and Micah share how they have gotten caught up on their own ideas and discuss how this often happens when it comes to Roth conversions—and what to do about it. Listen in to hear how they navigate this issue, what kinds of communication methods help, and what you can do to ensure clients are better prepared to take advantage of Roth conversions.
When clients sit down and hear you recite everything you know about this topic, there will certainly be less understanding than if you knew how to communicate the idea succinctly and purposefully to them. Don't miss the guys' tips on how to do this more effectively and how to help clients make the most educated and informed decisions. You'll also learn why less is often more, how to not overcomplicate things, and where many advisors screw things up. Throwback: Roth Conversions [Episode 248] Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn | Twitter - Retirement Tax Services - Estate Planning Masterclass
In this episode, we’re recapping this week’s discussion on sales and communication in the financial advisory industry and how effective communication is not about forcing someone to buy something but rather about understanding and helping clients achieve their goals. We also review the importance of building a proper prospect process and avoiding common pitfalls in prospect meetings.
Resources in today's episode: - Episode website - Communication, Not Sales [Episode 247] - When Prospecting Goes Wrong - Ready to get training from Matt and Micah in person? Join us on September 25th in Arizona for The Perfect RIA LIVE.
In this episode, Jamie discusses what happens when prospect meetings go wrong and provides insights on avoiding these situations. She emphasizes the importance of having a properly built prospect process and using a CRM as a brain trust for the organization. Jamie explains the concepts of blueprints, processes, and tasks and highlights the need for clear and consistent documentation. She also discusses the consequences of breaking the process and provides strategies for avoiding unwanted clients.
When Prospecting Goes Wrong Resources in today's episode: - Ready to get training from Matt and Micah in person? Join us on September 25th in Arizona for The Perfect RIA LIVE.
Summary: In this episode, Micah and Matt discuss the importance of effective communication with clients and prospects in your financial planning practice. They debunk the negative connotations associated with sales and emphasize the need for good, practiced communication skills. They highlight the role of role-playing in improving communication and stress the importance of having a consistent process. Communication, Not Sales [Episode 247] Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn - Ready to get training from Matt and Micah in person? Join us on September 25th in Arizona for The Perfect RIA LIVE.
In this episode, Amber first reviews the key takeaways from Monday’s episode where Jonathan Reynolds shared his key tips to helping your team members stay long-term . She discusses the importance of recruiting and retaining A players by showing them a clear plan and path for their career growth. She also highlights the significance of supporting team members and giving back to the community. Additionally, she explores the strategy of charging for prospect meetings and the value it brings to financial advisors.
Resources in today's episode: - Episode Website - Hiring And Retaining Top Talent with Guest Jonathan Reynolds [Episode 246] - Charging For Prospect Meetings
In this episode, Jamie discusses the importance of charging for initial prospect consultations. She shares the background of Shilanski and Associates, and explains how they began charging for prospect meetings. Jamie emphasizes the value that financial advisors provide and challenges the mindset that their services should be given away for free. She outlines the process of charging for consultations and highlights the focus on delivering value to prospects. Jamie also addresses common concerns and misconceptions about charging for initial meetings and emphasizes the importance of consistency and integrity in pricing.
Charging For Prospect Meetings Resources in today's episode: - Shilanski and Associates Initial Consultation Agreement - Jarvis Financial Sleep On It Process
Jonathan Reynolds, CEO of Titus Talent, joins Matt to discuss the importance of not only finding employees, but how to keep them long term. Jonathan shares why as a business owner, you need to provide employees with a clear career path and show them what's next in their professional development. Jonathan suggests that hiring and retaining A-players is best achieved by aligning their career trajectory with the company's future plans. He also highlights the significance of generosity in attracting and retaining talent, and the positive impact it can have on company culture and relationships. Hiring And Retaining Top Talent with Guest Jonathan Reynolds [Episode 246]
Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Jonathan Reynolds: Website | LinkedIn - Titus Talent Strategies - Right Seats, Right People by Jonathan Reynolds - Generosity Guide
In this episode, we’re recapping the importance of improving prospect processes and setting the stage for the first meeting. Advisors need to create a positive environment and approach prospects with confidence, and that first meeting with the prospect is crucial, so how do you make it successful? We’re also sharing how to identify good-fit prospects and the importance of marketing and consistency.
Resources in today's episode: - Episode Website - Setting the Stage For Prospect Meetings - Masterclass Sneak Peek! [Episode 245] - Prospecting That Works for Advisors - Don’t miss out on our upcoming Prospect Process Masterclass. Contact lifestyle@theperfectria.com to stay informed.
Looking for prospecting help? Jamie’s ready to share guidance on marketing and how to identify the right fit for your services. Discover the importance of consistency in marketing and the need to persist in strategies that work. Learn about goal planning, setting realistic targets, and the significance of discipline in achieving success as Jamie shares practical tips to ensure your marketing efforts stand the test of time.
Prospecting That Works for Advisors Resources in today's episode: - Niche Slapping Time - Don’t miss out on our upcoming Prospect Process Masterclass. Contact lifestyle@theperfectria.com to stay informed.
Matt and Micah are sharing a sneak peek of an upcoming masterclass focused on perfecting the prospect process. The duo reflects on their past experiences, including awkward encounters and struggles to convey value to prospects. The key takeaway: it all boils down to creating a sense of value in the prospect's mind. Discover the crucial elements of a successful first in-office appointment, where every detail, from communication beforehand to the receptionist's warm greeting, plays a vital role. Learn the importance of a positive environment and stacking everything in your favor, even the seemingly small details, to create a favorable impression.
Setting the Stage For Prospect Meetings - Masterclass Sneak Peek! [Episode 245] Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn - Ritz Carlton Training - Don’t miss out on our upcoming Prospect Process Masterclass. Contact lifestyle@theperfectria.com to stay informed.
In this recap episode, we’re sharing why Monday’s guest, Aaron Walker, believes entrepreneurs need to break out of isolation, seek support from others, and how joining a mastermind group transformed his life. We’ll also recap the challenges of nepotism in the workforce and the importance of working for someone else before joining a family business.
Resources in today's episode:
- Episode Website- The Power of Masterminds with Guest Aaron Walker - Should I Let My Kids Work For Me?
In this episode, Jamie discusses the concept of nepo babies and the importance of teaching children the value of hard work, honesty, and kindness. She shares personal stories and experiences from her own family, highlighting the challenges and benefits of being raised in a family business. Jamie emphasizes the need for children to work for other companies first to gain valuable experience and avoid the perception of entitlement.
Should I Let My Kids Work For Me? Resources in today's episode: - Family Offices: An Interview with Floyd Shilanski
In this episode, Aaron Walker joins Matt to discuss the importance of mastermind groups and their transformative power on entrepreneurs' lives. Aaron shares the value and need for vulnerability, transparency, and trust within these groups and the benefits of diverse perspectives and experiences. He also highlights the impact of unhealed wounds and the misguided thoughts around self-preservation that can hinder personal growth. Aaron provides insights into the structure and format of a mastermind group and encourages listeners to consider joining one to enhance their personal and professional lives.
The Power of Masterminds with Guest Aaron Walker Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Aaron Walker: LinkedIn | Website - View from the Top Book by Aaron Walker - View from the Top Iron Sharpens Iron Mastermind - Learn More! - What Works Wednesday with Aaron Walker
In this episode, Amber recaps Matt and Micah’s conversation about being prepared for emergencies and disasters in both personal and professional life and the illusion of knowing what to do in a crisis. It’s important to prepare for emergencies in your practice, such as employee turnover or loss of clients. In addition, she recaps Jamie’s tips for preparedness, the importance of having a disaster recovery plan, and why you need to be cautious about taking advice from people without knowledge or experience in a given situation.
Resources in today's episode:
- Episode Website - No One Will Fix It For You - Sinking Ships
In this episode, Jamie shares a story about a boating incident and highlights the importance of preparedness, clear communication, and the dangers of unsolicited advice. She emphasizes the need for disaster recovery drills and simulations in both personal and professional settings. Jamie also encourages people to be critical of those who offer advice without understanding the full context of a situation. And most importantly, by practicing and debriefing after actions, individuals and teams can be better prepared to handle unexpected events.
Resources in today's episode:
Sinking Ships
In this episode, Matt and Micah discuss the importance of being prepared for emergencies in both personal and professional settings. Through an experience of witnessing a boat capsizing, they highlight the illusion that people will automatically know what to do in a crisis. They emphasize the need to be your own first responder, to not rely solely on others for help, and the dangers of thinking nothing could ever happen to you - instead, be ready with a plan!
Resources in today's episode:
- No One Will Fix It For You - Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn
In today’s episode, we’re recapping this week’s highlights. We’re revisiting the prospect process with Monday’s guest, John Barron, and the importance of educating prospects and highlighting an advisor's unique value to avoid commoditization. In addition, we’re recapping employee compensation and how both employees and employers can navigate through that process, as well as the recommendation for employees to focus on becoming indispensable.
Resources in today's episode: - Episode Website - Creating a Prospect Process that Works with Guest John Barron - How To Negotiate Your Pay
In this episode, Jamie dives into employee compensation and the hurdles they encounter while negotiating salaries. She emphasizes the significance of making yourself indispensable within an organization, suggesting that employees concentrate on enhancing their areas of improvement. The discussion extends to the advantages of working in a traditional office setting and how family dynamics can influence one's productivity at work.
Jamie's advice to employees centers around the timing of negotiations, cautioning against introducing market research unless they are confident in their ability to align with the expected compensation. Additionally, she underscores the importance of transparent communication regarding compensation. Furthermore, Jamie encourages employers to proactively schedule performance and compensation reviews with their employees.
How To Negotiate Your Pay
In this episode, Matthew Jarvis and special guest John Barron discuss the importance of creating an educated and informed decision-making process for prospective clients. John emphasizes the need to differentiate yourself from competitors and educate clients about the unique value you provide. By guiding clients through a safe and pressure-free process, Financial Advisors can build trust and help clients make decisions that align with their values and goals.
Creating a Prospect Process that Works with Guest John Barron
Resources in today's episode:
- Matt Jarvis: Website | LinkedIn - John Barron: LinkedIn | Website - TPR Podcasts: With Guest John Barron and Systems, Perspectives, and Procrastination: Business Coach John Barron’s Advice for Entrepreneurs
In this episode, we’re recapping the importance of managing alerts and notifications to improve productivity and mental well-being, as well as exploring strategies for managing calendars and transitioning to vacation. We’re also covering the dos and don'ts of firing and handling resignations, and the importance of clear communication and setting expectations.
Resources in today's episode: - Episode Website - Only Fools Get Alerts [Episode 241] - How to Fire Someone
In this episode, Jamie Shilanski discusses the challenges of firing employees and handling resignations in a professional and respectful manner. Jamie shares her personal do's and don'ts for firing employees, emphasizing the importance of clear expectations, accountability, and avoiding drama. She also provides insights on the process of transitioning out employees who resign, including the importance of setting a positive tone and communicating the plan to team members and stakeholders.
How to Fire Someone
In this episode, Micah and Matt discuss the destructive nature of alerts and notifications on your productivity and mental well-being. They emphasize the importance of separating acceptable notifications from overwhelming ones and creating a team communication policy. They also share strategies for managing calendars and travel and using tools like scheduled summaries to transition between work and personal modes. They highlight the need for accountability in addressing the addictive nature of dopamine and the exploitation of our attention.
Only Fools Get Alerts [Episode 241] Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn- Dopamine Nation - Deep Work - Dan Sullivan - Tim Ferris - Fear Setting - The Myth of Normal
In this recap episode, we’re highlighting the backdoor Roth contribution strategy, the importance of correct reporting on tax returns, and the need for a proactive advisor in managing client accounts. We’ll also explore the dynamics of middle-class success and those who embrace failure as a learning tool and prioritize nodal networking. Lastly, we’re getting into the real deal behind confirmation bias and understanding System One and Two thinking to help you become a better financial advisor. Resources in today's episode:
- Episode Website - Tax Talk: Strategies for Efficient Backdoor Roth Conversions With Guest Steven Jarvis, CPA - Breaking Middle-Class Barriers - Insights on Wealth and Impact with Guest Lewis Schiff - Mind Over Money: Exploring System 1 and System 2 Thinking in Spending Habits
In this podcast episode, Jamie Shilanski is digging into the the power of confirmation bias and its role in becoming a better financial advisor. Using astrological signs, Jamie illustrates how confirmation bias influences our beliefs about ourselves. She draws on Angela Duckworth's research, explaining the interplay between system one (instantaneous, subconscious) and system two (slower, intentional) thinking. She explores how this concept extends to marketing and buying decisions, revealing that people predominantly rely on System 1 thinking due to its quick, lazy nature. Brand recognition and trust play significant roles in this process. To connect with clients, Jamie suggests understanding their System 1 thinking, recognizing their intuition, and leveraging the principle of moving towards pleasure or away from pain. She shares a practical approach to marketing by categorizing attributes like intuitive, brand recognition, conscientious, instinctive, and emotional reference on a spectrum between pleasure and pain. Simplifying rather than overcomplicating, Jamie emphasizes the importance of focusing on the basics in marketing, offerings, and customer experience. Optimize your approach by aligning with clients' intuitive thinking and addressing their pleasure or pain points. Mind Over Money: Exploring System 1 and System 2 Thinking in Spending Habits
Resources from this episode:
- Grit by Angela Duckworth - Thinking Fast and Slow by Daniel Kahneman
In this episode, Matt is joined by Lewis Schiff from Birthing of Giants. Lewis, a natural entrepreneur, questioned the disparity in outcomes among middle-class individuals. His research, culminating in the book "The Middle-Class Millionaire," explored why only one in ten managed to break into the top echelons of wealth.
The crux of his coaching philosophy lies in understanding the distinctive approach of the self-made wealthy, the true drivers of economic change. These individuals, Lewis emphasized, work longer hours but, more importantly, embrace failure as a vital learning tool. The so-called "hero gene" is prevalent among entrepreneurs who openly share their failures, fostering innovation and entrepreneurship.
Lewis also discusses nodal networking, a key concept that revolves around cultivating strong connections with a select few in the business realm. Lewis stressed the importance of giving before asking, using personal strengths, and minimizing weaknesses.
Breaking Middle-Class Barriers - Insights on Wealth and Impact with Guest Lewis Schiff
Resources for this episode:
- Matt Jarvis: Website | LinkedIn- Lewis Schiff: Website | LinkedIn - Russ Allen Prince - The Middle-Class Millionaire
In this podcast episode, Matt is joined by Steven Jarvis from Retirement Tax Services (RTS) to discuss a commonly misunderstood tax strategy and how you can add value to your clients through tax planning. Through talking about a critical tax strategy involving backdoor Roth contributions, they stress the importance of correctly reporting on tax returns and highlight common mistakes, such as errors in the 8606 form and issues when clients change tax preparers.
The conversation explores pitfalls in the backdoor Roth process and the need for a proactive advisor. Steven also warns against relying solely on software tools and why they require a knowledgeable operator. They also discuss the importance of managing all client accounts for optimal communication and the successful execution of complex strategies like the backdoor Roth. Tax Talk: Strategies for Efficient Backdoor Roth Conversions With Guest Steven Jarvis, CPA [Episode240]
Resources for this episode:
- Steven Jarvis: Website | LinkedIn - 8606 Masterclass - Effective Implementation Of A Backdoor Roth Strategy: Detailed Nuances, IRS Form 8606 (And When It’s Even Worth Doing)
In this episode, we’re recapping the critical aspects of maximizing profitability with insights on making your practice not only sustainable but truly profitable. Discover the often overlooked importance of estate planning and how it contributes to the longevity of your success. Dive into the intricacies of hiring and team building, understanding the pivotal role a strong team plays in your business growth. Resources in today’s episode: - Episode Website - What Does Profitability Really Look Like? [Episode 239] - Safeguarding Your Legacy: Talking Estate Planning with Client with Guest Yohance Harrison - BS Business Advice About Building Teams
In this episode, Jamie discusses the intensity surrounding the work her office does nature of work and how her team has fully embraced it. She emphasizes the critical importance of having a team that is highly motivated and passionate. Jamie also provides invaluable insights on effectively managing non-team players and the challenges of hiring and onboarding new team members. She firmly stresses the need to empower non-team players and establish a comprehensive onboarding process to ensure the team operates at maximum efficiency.
BS Business Advice About Building Teams Resources: - Job Offers - Adding To Your Team - Hiring And Interviewing
In this episode, Matt is joined by Yohance Harrison to discuss the profound importance of estate planning, driven by Yohance's personal experience assisting a client on her deathbed in 2020. Yohance shares how over 50% of Americans pass away without an estate plan and stresses the need for critical documents like wills and powers of attorney.
Yohance also talks about how he leverages client interactions to generate referrals. By discussing beneficiaries and powers of attorney, he opens opportunities to guide clients through notifications, turning one estate plan into multiple referrals. Matt underscores the advisor's role in delivering value and initiating meaningful conversations, illustrating how such interactions can positively impact clients' lives. Tune in for practical insights into estate planning, navigating its complexities, and creating lasting value for both advisors and clients alike.
Safeguarding Your Legacy: Talking Estate Planning with Client with Guest Yohance Harrison Resources: - Matt Jarvis: Website | LinkedIn - Yohance Harrison: Website | LinkedIn - Estate Planning Masterclass - EncorEstate Plans - Wealth.com - Trust and Wills - Investopedia
In this episode, Micah and Matt discuss the importance of profitability in financial advisory practices and why it's needed to ensure financial stability and the ability to weather economic downturns. They share insights on hiring and team management, highlighting the importance of hiring strategically and setting benchmarks for growth. They’re also cautioning against wasteful spending and why you need to invest in activities that have proven to be successful and involve things you’re willing to do.
What Does Profitability Really Look Like? [Episode 239] Resources: - Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn - INVICTUS Mastermind - https://be.theperfectria.com/invictus-mastermind-a/?_go=podcast - Save the date for our next Nation Power Session on February 21, 2024, on How to Double Your Practice! Email lifestyle@theperfectria.com to save your spot!
In this episode, we’re recapping this week’s episodes. We’ll cover identifying prospects, setting yourself apart from other advisors, tracking prospect nos, using a virtual assistant for marketing, and helping younger people set goals.
Prospect Process - Why Prospects Say No [Episode 238]
Virtual Assistants: Maximizing Marketing Momentum with Guest Amy Appleton
Empowering Futures: Goal-Setting Strategies for Young Adults
Cracking the Code on Prospects, Marketing VAs, and Goal Setting for Kids
In this episode, Jamie Shilanski discusses the importance of goal setting for young people and how to help them establish and work towards their goals. Jamie provides a step-by-step process for goal setting and offers tips on accountability. She also encourages listeners to seek guidance and support from others in the goal-setting process.
Empowering Futures: Goal-Setting Strategies for Young Adults
In this episode, Matthew Jarvis interviews Amy Appleton, the Vice President of Marketing for Belay, about how financial advisors can use virtual assistants to enhance their marketing efforts. Amy shares her experience of using virtual assistants for marketing at Belay and provides practical tips for advisors. The conversation covers topics such as content repurposing, podcast management, tracking and reporting, networking, and more. Amy emphasizes the importance of consistency in marketing and the value of having a support team to handle various marketing tasks.
Virtual Assistants: Maximizing Marketing Momentum with Guest Amy Appleton
In this episode, Micah and Matt discuss the key steps and strategies for successful prospecting and client conversion. They emphasize the need to track and analyze prospect data to identify the most effective prospecting channels and the significance of knowing your numbers and tracking conversion rates at each step of the process. They also highlight the importance of simplifying complex concepts for clients and differentiating oneself from other advisors. Additionally, they discuss the importance of evaluating and adjusting prospecting strategies and identifying reasons for prospect rejection.
Prospect Process - Why Prospects Say No [Episode 238]
In this recap episode, we’re discussing topics related to personal and professional growth. On Monday’s episod, Matt and Micah emphasized the importance of setting goals, making sticky changes, and being willing to pay the price for success. They also explored the concept of extreme accountability and the need for an accountability partner. Wednesday’s episode with guest Rhonda Farr discussed She recognizing blind spots, changing behavior, and improving relationships through awareness and curiosity. Then on Thursday, Jamie highlighted the significance of understanding team appreciation languages and engaging your team through appreciation.
New Year - New You
Coaching High Achievers with Guest Rhonda Farr
High Fives and Hive Minds: Exploring the Quirks of Team Appreciation Languages
New Year Goals, High Achiever Coaching, and Team Appreciation Languages
In this episode, Jamie Shilanski discusses the importance of emotional intelligence and team appreciation languages. She shares her experience of conducting a team retreat where they explored different appreciation languages and how team members like to give and receive appreciation. The four main appreciation languages discussed are acts of service, words of affirmation, quality time, and gifts. Jamie emphasizes the need for leaders to understand and cater to each team member's appreciation language to create a positive and supportive work environment.
High Fives and Hive Minds: Exploring the Quirks of Team Appreciation Languages
In this episode, Matthew Jarvis interviews Rhonda Farr, a coach specializing in working with high-achieving men. They discuss the need for coaching, especially for successful individuals who may struggle in other areas of their lives. Rhonda explains that coaching provides a sounding board and helps identify blind spots. They also explore the challenges that high achievers face in personal relationships and how to navigate those challenges. Rhonda shares practical tips for being curious and creating awareness in order to improve relationships.
Coaching High Achievers with Guest Rhonda Farr
In this episode, Jarvis and Micah discuss setting ambitious New Year's resolutions and the importance of being willing to pay the price to achieve them. They emphasize the need for sticky changes and delivering value to clients. They also introduce the concept of extreme accountability and the role of an accountability partner in achieving goals. The episode concludes with a reminder to take action and make the necessary changes to reach success.
New Year - New You
In this recap episode, we’re sharing the highlights from the week. Monday brought the 12 gifts that you can give yourself and your practice for the holidays, including that time blocking and structured schedules are not just organizational tools but powerful catalysts for boosting productivity. Another key takeaway was the quality over quantity approach in client interactions and how being open to continuous learning and delivering genuine value holds more significance than sheer volume, fostering stronger and more meaningful client relationships. On Wednesday, we welcomed HR professional Kameka McLean from the UK to share her focus on DEI and to address the crucial issue of diversity in financial services. She discussed the necessity for comprehensive policies, procedures, and succession planning to promote inclusivity and diversity within the industry. On Thursday, Jamie discussed recruitment - her tips for job advertisements and the significance of aligning candidate values with company values. The Twelve Days of TPR Christmas [Episode 236] Becoming An Inclusive Leader with Guest Kameka McLean Job Offers
Gifts To Grow Your Practice, Leading with Inclusion, and Crafting Irresistible Job Offers
In this episode, Jamie discusses employee recruitment and retention strategies. She shares her approach to job advertisements, including the use of platforms like Indeed. Jamie emphasizes the importance of background checks and using tools like GoodHire to ensure the suitability of candidates. She also highlights the value of assessments, such as the DISC test, in determining the right fit for a role. Jamie provides insights into crafting job offers and the benefits and incentives that can attract and retain top talent. She cautions against cash bonuses and emphasizes the need to align benefits with company culture.
Job Offers
In this episode, Matthew Jarvis interviews Kameka McLean, an HR professional with over 20 years of experience, about the importance of diversity and inclusion in the workplace. Kameka shares her personal journey in HR and emphasizes the need for organizations to align their goals and principles with the protective characteristics outlined in the law. She highlights the benefits of investing in employee development and creating an inclusive culture. Kameka also discusses the challenges and misconceptions surrounding diversity and offers advice on how to create a welcoming environment for all individuals. She emphasizes the importance of supporting mental well-being and provides insights for smaller organizations to promote diversity and inclusion. The episode concludes with empowering messages about embracing one's uniqueness and taking action to make a positive change.
Becoming An Inclusive Leader with Guest Kameka McLean
In this Christmas special episode, Micah and Matt discuss 12 gifts advisors can give their practice to focus on improving. These gifts include time blocking and surge scheduling, delivering value in client meetings, being effective with time, getting rid of freebies and exceptions, defining new clients, delivering massive value in tax planning, cutting opportunities to play office, investing in professional development, hiring a virtual assistant, committing to double success in 36 months, joining the Invictus Coaching Program, and writing out the onboarding process. These gifts aim to help advisors improve their practice and achieve greater success in the coming year.
The Twelve Days of TPR Christmas [Episode 236]
On Monday, Matt and Micah focused on the critical importance of communication with clients and the impact of language on client relationships. and stress the need to avoid default answers that may limit clients. They also highlighted the value of asking probing questions, showing empathy, and maintaining a genuine curiosity to understand clients' needs. Wednesday, Matt was joined by former wholesaler turned advisor Anthony Zanetti, who shares insights from his experience in both roles. In addition to having an intentional schedule, Anthony shares his approach to improving a good practice by focusing on incremental changes and prioritizing tasks, as well as the importance of aligning actions with the advisor's vision and effectively communicating complex strategies to clients. Thursday, Jamie explored the vocabulary and toolset for personal and team development. She discussed terms like work-life balance and burnout, highlighting the need to understand and address these issues. Jamie shares insights from her team, the importance of teamwork to avoid burnout, and the importance of providing a vocabulary for personal development.
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Do NOT Say That To A Client [Episode 235]
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Wholesaler Who Saw The Light With Guest Anthony Zanetti
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Burnout Is For Wimps - Mastering Client Communication, Growth Strategies, and Team Resilience
In the latest Worlds To Conquer episode, Jamie takes on language and tools that are crucial for success. She deconstructs trendy terms like "work-life balance," "burnout," and "sabbatical," shedding light on the nuanced meanings behind these words and how they impact the trajectory of your career. Jamie offers strategies to prevent burnout, including the importance of understanding team members' needs. She’ll also share her recommendation on the role of coaches in personal development, stressing the need for a strategic focus on potential and goal achievement.
- Burnout Is For Wimps
In this episode of Confessions from a Former Wholesaler, Matt is joined by Anthony Zanetti from Mardin Capital Group to share his experience in wholesaling and then transitioning to advisory services. Anthony shares his insights into creating balanced presentations, and the importance of intentional scheduling and the impact it has on client experience. Anthony also shares his journey of transitioning to a new practice, why he chooses to focus on incremental improvements rather than overwhelming changes, and how being intentional with delegation enhances your practice, your team’s empowerment, and the client experience.
- Wholesaler Who Saw The Light With Guest Anthony Zanetti
In today’s episode of The Perfect RIA, Matt and Micah are getting real about client communication because the words you choose have the power to either elevate or jeopardize client relationships. It’s about intentional communication, not routine responses, and the need to maintain a genuine curiosity about clients' needs and goals.
Listen in as they share the subtle yet crucial nuances that can either build or erode client trust. By embracing a client-centric approach and valuing every question as an opportunity, advisors can elevate their practice, delivering not just financial advice but a tailored, empowering experience for each client.
- Do NOT Say That To A Client [Episode 235]
In this recap episode, we’re sharing how Monday, Matt and Micah emphasized the crucial role of financial advisors in their clients' lives, focusing on surge meetings and client interactions. They highlighted the importance of drawing out clients' priorities and consistently asking questions to uncover deeper concerns.
Greg Goin, a wholesaler and regional VP for Equitable, joined Matt on Wednesday to discuss successful advisor practices and challenges. Topics included the evolving landscape of financial planning, the perception of insurance products in the RIA space, and the tradeoffs between RIA independence and affiliation with a larger organization. Greg emphasized the importance of delegation, team-building, and continuous investment in professional development.
Thursday's episode with Jamie went into organizational stickiness. She highlighted factors contributing to client retention, including delivering value, creating memorable client experiences, and maintaining a consistent reputation. She emphasized regular updates, high-touch gestures, and understanding clients' needs for building lasting connections.
Two Most Important Parts of a Surge Meeting [Episode 234] Confessions Of A Wholesaler with Guest Greg Goin Are You Sticky? Impactful Meetings, Wholesaler Perspectives, and Client Retention
Jamie is discussing the concept of organizational stickiness and its paramount importance for financial advisors, especially those operating in the RIA space. To achieve and maintain stickiness, Jamie advocates delivering personalized, high-value services, creating a unique selling proposition that addresses clients' distinct needs. Additionally, Jamie emphasizes the critical role of client experience and how to set a tone for client-centric engagement. She explores the significance of communication during client meetings and that connected clients are less likely to leave. Jamie also underscores the importance of expressing gratitude for referrals and the role of your reputation. Are You Sticky?
Matt is back with another Confessions of a Wholesaler episode, and this time is joined by Greg Goin, a seasoned wholesaler, and regional VP for Equitable, discussing the evolving landscape of financial planning. They dive into the core focus on planning adopted by successful advisors, the implementation differences in planning software usage between broker-dealers and RIAs, and the shifting perception of insurance products. Greg discusses the challenges and trade-offs associated with transitioning to an independent RIA with insights into the struggles faced by advisors, as well as the significance of effective delegation and continuous investment in professional development and technology understanding.
Confessions Of A Wholesaler with Guest Greg Goin
Matt and Micah are unraveling the intricacies of client meetings and the pivotal role financial advisors play in their clients' lives. They’re exploring the two critical components that can elevate your client meetings to new heights. There will always be outside forces to contend with, so be sure to focus on what you can control in client meetings, particularly the behind-the-scenes and pre- and post-meeting elements. It’s crucial that advisors know and practice how to draw out a client's most important concerns by asking thoughtful questions. And don’t forget the significance of meticulous note-taking and dictation, which is vital for communicating with your team, assigning tasks, and preparing for future meetings.
Two Most Important Parts of a Surge Meeting [Episode 234]
On Monday, Matt and Micah kick-started the week by talking about delivering value to clients with the example of the 1099 value add. They shared advice on creating systematic processes, setting deadlines, and involving the team in value-add initiatives. On Wednesday, Matt welcomed back Scott Rusnak, an EOS implementor and personal coach, to explore the transformative role of coaching in personal and professional development. Scott shared his "delegate and elevate" checklist, being intentional with relationships, and the power of regular resets. Thursday, Jamie offered insights on navigating legal challenges. Drawing from a client's lawsuit and her own HOA dispute, Jamie stressed a proactive approach and the importance of creating detailed timelines when facing legal action, as well as a practical perspective on maintaining composure and handling legal challenges methodically. Value Sledgehammer or Volume Sucker Punch? [Episode 233]
The Power of Coaching With Guest Scott Rusnak
Stupid Games = Stupid Prizes
Value Delivery, Transformative Coaching, and Navigating Legal Challenges
Jamie Shilanski is opening up about legal challenges with her own personal experience and how to navigate such situations effectively. Emphasizing the importance of a proactive approach, she’s highlighting the need to create a detailed timeline of events upon receiving any legal action.
Jamie stresses the significance of completing crucial steps, likening it to scenarios where clients may forget to execute wills or update beneficiary designations. She’s providing a practical perspective on handling legal challenges in both personal and professional spheres and encourages when faced with this situation to manage your emotions and initial reactions.
Stupid Games = Stupid Prizes
Matthew Jarvis welcomes back Scott Rusnak, an EOS implementor and Matt's personal coach, to explore the pivotal role of coaching in personal and professional development. Scott shares his approach to selecting the right coach, focusing on backgrounds, client referrals, and the ability to emulate success.
Matt and Scott further explore the dynamics between a coach and a client, shedding light on the "delegate and elevate" checklist as a crucial onboarding tool. Scott also discusses his intentional approach to relationships and as a guiding principle for achieving both personal and professional fulfillment.
The Power of Coaching With Guest Scott Rusnak
In this episode of The Perfect RIA podcast, Matt and Micah are getting into the critical aspect of delivering value to clients through the use of Value Adds. Sharing examples from their 1099 Value Add and its origin, they caution against overwhelming clients with information and the importance of starting small when implementing Value Adds.
Matt and Micah provide practical advice on creating a systematic process, setting deadlines, and involving the team in the implementation of Value Add initiatives. They’ll also discuss and advocate for proactive planning because putting in that work in advance allows advisors to choose when to roll out improvements, giving them more control in delivering ongoing value to clients.
Value Sledgehammer or Volume Sucker Punch? [Episode 233]
On Monday, we revisited Micah and special guest Rod Zeeb, CEO of The Heritage Institute, as they emphasized building genuine connections and trust with clients through estate planning. They discuss the four key things clients genuinely desire and the critical questions advisors must ask to meet those expectations, all while stressing the importance of starting with a vision. On Wednesday, Matt was joined by, Paul Saganey, the founder of Integrated Partners, who introduced the concept of the complexity curve and shared his insights into problem-solving and the significance of asking thought-provoking questions to provide guidance for financial advisors aiming to elevate their practice. Thursday, Jamie shared her journey as an acts of service person and addressed the challenges of asking for assistance, and offered insights into achieving a balance between helping others and personal growth.
Tune in as we recap highlights and action items from estate planning to personal growth.
Asking Questions That Matter For Estate Planning [Episode 232] The Complexity Curve with Guest Paul Saganey Acts Of Service Estate Planning Value, Client Complexities, and Balancing Service With Personal Growth
Jamie explores acts of service individuals and the potential impact on personal success, where she shares her personal journey as an act of service person. She’s discussing the downside of this mindset, as it can lead to difficulties in letting go and asking for help when needed. Jamie underscores the importance of empowering and teaching others and addresses the common tendency for acts of service individuals to put others before themselves, even at the cost of their own needs. Tune in as she offers valuable insights for those seeking a balance between helping others and achieving personal growth and success.
Acts Of Service
Matt is joined by the founder of Integrated Partners, Paul Saganey, to explore the fascinating concept of the complexity curve. Integrated Partners has struck a unique balance, empowering advisors to remain independent while receiving the crucial support and networking opportunities they need. The key focus here is helping advisors guide their clients through the complexity curve, where both financial and personal lives become increasingly intricate with time. Paul talks further about the art of building strong relationships with accounting firms, the importance of problem-solving, and highlighting how you can be a true asset to them. Paul also shares his wisdom on the significance of 'disturbing tracks,' a technique that helps advisors visually depict clients' financial futures by recognizing and magnifying problems. He stresses the value of asking thought-provoking questions rather than providing cookie-cutter solutions.
The Complexity Curve with Guest Paul Saganey
This industry is about so much more than simply offering financial help. It is about building honest connections and trust with your clients and ensuring that they always feel heard, valued, and understood. In this episode, Micah will be joined by Rod Zeeb, founder and CEO of The Heritage Institute, to discuss how to deliver massive value items, specifically several things we need to focus on as advisors to make sure we’re always exceeding expectations. Listen in as Rod explains the four things that clients truly want, as well as the questions you need to ask in order to get there. You will learn how to understand your clients’ goals with their estate planning, how to approach a conversation around an estate that is not being split equally, and why you should always start with the vision. Throwback: Asking Questions That Matter For Estate Planning
On Monday, Matt and Micah talked about the concept of treating everyday interactions as at-bats and the significance of mastering communication skills to succeed in your practice. On Wednesday, Matt was joined by Karen Stewart, who highlighted how virtual assistants can handle tasks like email, calendar management, and even process documentation, freeing up advisors to focus on their strengths. Thursday, Jamie shares valuable insights about not engaging in every confrontation and finding the right people to collaborate with, and the importance of not allowing negative thoughts to limit your potential. Tune in as we recap highlights and action items from personal development to improving your professional skills.
How To Get More At-Bats [Episode 231] Delegating for Success with Guest Karen Stewart Showin' Up For A Fight Mastering Communication, Delegation Secrets, and Personal Growth
Jamie discusses the importance of recognizing when to step away from unnecessary conflicts in our lives, emphasizing that not every fight requires our presence and the concept that some people, due to a chaotic upbringing, unknowingly seek chaos as adults to recreate a sense of normalcy. She stresses that you must evaluate where you invest your energy and the importance of surrounding yourself with the right people. This serves as a compelling reminder that we are in control of our lives and that we have the power to choose how we invest our time, energy, and focus.
Showin' Up For A Fight
Matt is once again joined by Karen Stewart from Belay to discuss delegation and maximizing efficiency in your business. Karen stresses the importance of creating a list of tasks you're currently handling. From email management to calendar organization and even travel planning, she suggests pinpointing which tasks can be effectively delegated to a virtual assistant. Not all tasks require your personal touch. Instead of feeling you 'should' be handling certain tasks, you can delegate these to a VA, who's better equipped for the job. Matt and Karen will also talk about the importance of clear communication and onboarding processes when working with a virtual assistant. It's all about understanding each other's expectations and preferences, which is a crucial factor for a harmonious and productive working relationship. Delegating for Success with Guest Karen Stewart
Matt and Micah are here to talk about consistent practice and communication mastery. Drawing a parallel to professional athletes, they underscore the need for advisors to refine their skills continuously and to identify specific areas of their communication skillset that require improvement and commit to daily practice.
They’re also sharing the critical role of body language and how being aware of shifts in a client's body language can provide valuable insights and enable advisors to ask pertinent questions. They’ll also argue that, regardless of your position, you are always in sales, emphasizing the significance of mastering communication in helping clients achieve their financial goals. How To Get More At-Bats
In today’s recap, we’re first revisiting Monday’s episode, where Matt and Micah shared their experiences at a recent conference where Matt grappled with questions about his practice's efficiency and spare time. The conversation revolved around the challenge of seeking guidance and insights from others in the field, especially when the advice you receive doesn't align with the reality of your own experiences.
Wednesday’s episode featured guest Kat Eletskikh from the Chartered Institute for Securities and Investment (CISI). Kat discussed her role in event planning and managing stress in a demanding industry. She shared her strategies for maintaining high energy levels, emphasizing the importance of self-care, nutrition, and networking.
Thursday, Jamie talked about the importance of practicing value adds as an opportunity to ensure you have a common language within your office and confidence in your delivery to clients.
Tune in to learn more about navigating professional conferences, managing stress, and practicing delivery. Don't miss this recap of our recent episodes!
So Is This What You Do In YOUR Practice? Event Planning and Energy Mastery with Guest Kat Eletskikh Trust But Verify
https://bit.ly/3u6c1f9
Jamie is shedding light on the need for extensive practice delivering value adds before client meetings. She’s outlining Surge and how it revolves around the best time for clients, as well as her recent experience in delivering a value add on estate planning.
Jamie shares the benefit that practicing and preparedness offers not only your clients but your team as well so that you can deliver massive value.
https://bit.ly/478bd8b
In this episode, Matt sits down with Kat Eletskikh from the Chartered Institute for Securities and Investment (CISI), the UK's equivalent to the CFP board. Kat played a pivotal role in organizing the recent CISI annual conference, and she shared invaluable insights on event planning, stress management, and avoiding burnout. Her experience in orchestrating events for a not-for-profit organization highlights the dedication required to create meaningful experiences for members, foster learning, and build connections within the financial planning industry. She emphasizes the importance of striking a balance between high-intensity work and rejuvenating breaks and practicing basic self-care habits. Her advice on networking and surrounding oneself with inspiring individuals speaks to the significance of motivation and energy in demanding industries. https://bit.ly/3QNqGop
Matt and Micah kick off the conversation by discussing a recent conference experience, which turned out to be a masterclass in learning from others. They’re exploring the significance of asking the right questions to truly understand the industry, and the importance of transparency, not just in sharing successes but also in discussing mistakes. Drawing from personal experiences, they caution against unsolicited advice and urge listeners to verify advice from credible sources. Their practical advice extends to a call for honest self-assessment and using real numbers to evaluate one's practice. Being open to learning, asking the right questions, and embracing transparency are fundamental to growth and success. https://bit.ly/3tZLn7r
On Monday, Matt was joined by Michael Kitces, the visionary behind Kitces.com, who took us on a 15-year journey through the evolution of his venture. Michael shared the phases every entrepreneur encounters, from the tentative launch to the realization of sustained growth.
Wednesday, Wayne Firebaugh, INVICTUS member and radio host, joined us to emphasize the significance of well-documented beliefs as the foundation for client meetings and decision-making. Wayne stressed the need for adaptability, highlighting how beliefs can evolve over time.
Thursday, Jamie recapped her recent attendance at a financial conference, sharing the invaluable connections and wisdom she gained. She also revealed a strategic action item she took from the conference and stressed the importance of acknowledging and complimenting those who excel in their daily grind.
Listen in as we recap this week’s highlights and action items. Mastering Time with Guest Michael Kitces [Episode 229] The Power Of Beliefs With Guest Wayne Firebaugh Jiving With Jennifer Mastering Time, Evolving Beliefs, and Conference Connections
Jamie recaps her recent attendance at a financial conference, shedding light on the invaluable connections and wisdom she gained. She recounts a serendipitous encounter with an individual who had previously managed a staffing agency, highlighting how their expertise proved to be a wellspring of knowledge for her. Jamie also unveils a strategic action item she took from the conference and emphasizes the importance of acknowledging and complimenting those who excel, even in the midst of their daily grind. Ultimately, she imparts the powerful message that meaningful connections, curiosity, and the sharing of knowledge with others can unlock a world of possibilities.
https://bit.ly/40bzM1k
Matt is joined by Wayne Firebaugh, INVICTUS member and radio host of "Fireproof Your Money." Wayne shared his wisdom on the significance of having well-documented beliefs as a rock-solid foundation for client meetings and decision-making, and stressed the need for adaptability, underlining that beliefs can evolve over time. Moreover, Matt and Wayne explored the art of simplification and repetition in financial communication, a skill Wayne has honed through his radio experience.
https://bit.ly/3QwlogU
On today’s episode, Matt is joined by Michael Kitces, a trailblazer in the financial advisory world and the mastermind behind Kitces.com. In this special edition, he shared the fascinating journey of how his venture evolved over the last 15 years.
Ever wondered if Michael Kitces even sleeps, considering the heights of success he has achieved? Michael unveils the phases every entrepreneur experiences at the inception of their business. From the tentative launch, hoping for engagement and revenue, to the realization that sustained numbers are attainable, and eventually, the whirlwind growth - he's been through it all. One of the standout lessons is about efficient time management and making wise choices on where to direct your focus.
Listen in as Michael Kitces takes us through his journey, sharing wisdom on thriving in the entrepreneurial world while maintaining a healthy work-life balance
https://bit.ly/40gS7Ku
On Monday, Matt and Micah were reflecting on the core reason behind starting The Perfect RIA podcast - to bridge the gap between advice shared and the reality faced by financial advisors. They stress that with client and prospect meetings, you want to approach them with curiosity and focus on delivering value and that effective communication outweighs technical skills.
In the middle of the week, Evan Mayer of Fortuna Wealth and the For Advisors By Advisors podcast joined Matt to discuss the multifaceted aspects of financial advising. Evan shared his journey, highlighting the pivotal role of adding value to clients and the significance of consistency in his daily routine. His insights shed light on time management, meeting strategies, and maintaining a work-life balance.
Thursday brought Jamie to the spotlight, discussing the dynamics of marketing in the financial advising realm. Jamie stresses the importance of understanding your audience, delivering consistent value through content, and using client questions as a guide for generating meaningful topics. She emphasizes the need for a disciplined content calendar to build trust and dependability with your audience.
Join us as we recap this week’s highlights and action items What Are Prospects ACTUALLY Saying [Episode 228] Harnessing Consistency for Success with Guest Evan Mayer
It Takes 6 Months Bruh
https://bit.ly/48SekCi
It’s time to talk about marketing as Jamie discusses its effectiveness. She’s dispelling the misconception that small marketing efforts instantly will yield a deluge of business - marketing takes time! It’s also all about consistency, no matter when that potential fatigue takes the stage. But what to talk about? Here’s a tip: Listen to your clients! If they have a question, guess who else has a question? So, create that credibility and trust with your audience by answering those questions and concerns.
https://bit.ly/3rQLgL1
Matt is joined by Evan Mayer, host of the For Advisors By Advisors podcast and founder of Fortuna Wealth. Evan shares the fascinating journey of starting his podcast with a mission to educate and inspire financial advisors, emphasizing the power of candid discussions over scripted dialogues. He reveals key takeaways from interviewing advisors managing a spectrum of assets, highlighting that success isn't solely measured by AUM. Evan's insights shed light on effective time management, the pivotal shift to a client-centric approach, and the transformative impact of consistency and balance in both professional and personal realms.
https://bit.ly/3S3MXze
Matt and Micah are discussing the significance of real-life experience and action in comprehending client interactions. Genuine knowledge happens when you roll up your sleeves and actively engage with prospects and clients rather than relying solely on prescribed strategies. They’re sharing that advisors need to strive for an open-minded, value-focused approach to client meetings and to prioritize curiosity and effective communication over technical prowess. Plus, they’re reminding us that financial advising is not all about numbers; it's about injecting energy and enthusiasm into every conversation.
https://bit.ly/3SnwExB
On Monday, Matt and Micah highlighted the common traps advisors fall into and to focus on what truly works instead: authentic, results-driven business planning. On Wednesday, Micah was joined by Theresa Summerlin from Belay to address the challenges of finding the right assistant and the importance of effective communication. Thursday, Jamie shared valuable insights on navigating conflicts and the critical need to pause and recognize the shared human experience. Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Location, Location, Location [Episode 227]
Harmonizing with Your Ideal Assistant with Guest Theresa Summerlin Talking Sugar Honey Ice Tea https://bit.ly/3tDdk4I
Did that text really mean what YOU thought it meant? Jamie is digging into the critical importance of effective communication in navigating the diverse landscape of today's workforce, and the need to bridge gaps and avoid conflicts and misunderstandings by understanding our shared humanity. The majority of confrontations stem from misinterpretations, and the common tendency is to jump to conclusions during moments of frustration. But what if you paused? Listen as Jamie shares insights into applying communication skills across different facets of life, from managing teams and appointments to raising children.
https://bit.ly/3S377cu
Micah is taking the reigns in today’s guest episode as he discusses his journey of bringing on an assistant with Theresa Summerlin from Belay. Theresa shares that while Micah’s search for the right fit had its challenges, it’s imperative to find someone who clicks with your needs, fast-tracking the onboarding process and creating a solid partnership. Patience, open communication, and daily collaboration are the keys to success during the first few months, but this can lead to you leveling up your practice and finding the perfect assistant to help you thrive!
https://bit.ly/46LnK0z
It’s October, and Surge is in full swing, but Matt and Micah are sharing that Surge isn't just about meeting clients—it's a litmus test for their strategies and systems, and it's a prime opportunity to validate existing systems and compile a wishlist for refining strategies for the next surge.
They’re also calling out common traps advisors fall into around moving the needle and pushing your business forward. But if those traps are truly traps and only give you small advantages, then what is the true one thing that will help your practice improve? Listen in for the big reveal that will help you stay aligned with your personal and professional goals.
https://bit.ly/46VS2hj
Monday kicked off with an extraordinary coaching session as Matt and Micah welcomed John McKinley from the Invictus program to tackle his head trash related to increasing his fees and navigating the fear from his extreme accountability. On Wednesday, the conversation shifted to leadership with Carlos Mendez from Echelon Front, co-founded by the remarkable Jocko Willink, diving into the 4 laws of combat and building successful relationships. Thursday, Jamie shed light on the challenges advisors face when clients make decisions against their recommendations and how to maintain accountability to safeguard both the advisor and the client. Join us for this week’s highlights and action items.
Listen to this week's episodes:
Holy Smokes My Fees Are Going Up! What Am I Gonna Do? [Episode 226]
Navigating Leadership Waters with Guest Carlos Mendez
You’re Pi$$ing Me Off - Part 2
https://bit.ly/3PKM1wK
Jamie is dishing on the finer points of client interactions that really get under her skin. Building on the previous week's discussion about team members not heeding instructions, this time, she shines a spotlight on clients who don't follow financial advice. Jamie shares that her frustration isn't born out of a desire for control; rather, it's fueled by a genuine desire to secure the best outcomes for her clients. At The Perfect RIA, the pursuit of excellence is paramount, but despite these principles, there are instances where clients don't align with recommended actions. What’s an advisor to do? Tune in as Jamie shares her solution that not only safeguards the advisor but ensures absolute transparency in recommendations.
https://bit.ly/3F3pNkU
Matthew is joined by the incredible Carlos Mendez from Echelon Front, a company co-founded by the renowned Jocko Willink. Carlos, with an impressive 21-year Navy background predominantly in the SEAL teams, takes us through a transformative journey blending military strategies with corporate leadership. As he shares the heart of Echelon's approach, the four laws of combat, he’ll explain why embracing these principles is no easy feat. Carlos also discusses the challenging path of decentralization and stresses the importance of clear communication, a willingness to learn from mistakes, and the critical role of leaders in cultivating a trusting relationship with their teams.
https://bit.ly/3ZBVETj
It’s coaching time! In today’s special episode, Matt and Micah are joined by INVICTUS member John McKinley as he bravely steps into the coaching ring after going through his extreme accountability. They’re dissecting the industry's fee fixation, tackling head trash head-on, and sharing how focusing on your competition is never the solution. Listen in as they discuss the key to helping you get to the next step in your growth and how value and communication reign supreme.
https://theperfectria.com/podcast/226
We’re recapping Matt and Micah’s discussion on measuring what truly matters in your practice, the danger of losing focus, why you need that end-of-year push, and the need for hard-hitting, factual data. Next, we’ll share executive recruiter Yosef Colish’s secrets of talent acquisition and retention in the fiercely competitive RIA landscape to keep your talent pool secure and thriving. Lastly, we’ll share how Jamie deals with those frustrating times of being ignored when offering sound advice and how understanding team behaviour through tools like DISC aids in effective communication and leadership styles.
Listen to this week's episodes:
Measure What Really Matters? [Episode 225]
Recruitment Strategies and Talent Retention with Guest Yosef Colish
You’re Pi$$ing Me Off - Part 1
https://bit.ly/3ryku9Z
Jamie is sharing her frustration when people disregard her instructions, leading to problems she must later resolve, highlighting the scenario where team members aren’t following instructions. To tackle this issue, Jaime utilizes a behavior analysis tool like DISC to understand communication styles and personality traits, both for team members and clients. She emphasizes adapting leadership styles to match individual traits for better communication and productivity and stresses the importance of clear communication, setting expectations, and articulating policies and procedures to mitigate misunderstandings and create an efficient work environment. Ultimately, effective leadership lies in motivating individuals to give their best and deliver significant value to clients.
https://bit.ly/458Qboa
Matt is joined by Yosef Colish from Leah Yosef International, an experienced executive recruiter specializing in the financial advisory sector, for a deep dive into the world of talent acquisition and retention. Yosef shares his extensive knowledge of effective communication strategies and perfect timing when reaching out to potential candidates. Learn about building a continuous talent pipeline, where the focus is on finding the right fit rather than just filling positions. Discover the significance of organizational vision and how it ties into successful recruitment. Yosef emphasizes the importance of conveying your firm's values and goals to attract individuals who align with your vision and shares the transformative impact of mentorship and equity ownership on employee satisfaction and loyalty.
https://bit.ly/3RD32vz
Matt and Micah are peeling back the layers to reveal what truly counts when it comes to gauging advisor effectiveness. They expose the delusion of conventional metrics like AUM, office hours, and household numbers and reveal the real deal: the true number you need to measure. They share that it’s easy to get caught up in so many other numbers that are more like a badge of honour, but considering whether those numbers are really moving you and your practice forward. Listen in to learn how to measure what matters, what’s the most impactful, and how to keep moving forward with your goals.
https://theperfectria.com/podcast/225
We’re recapping Micah's true confession that highlights the need for well-defined processes and systems and that exceptions can sometimes be necessary but should never become the rule. Next, we’ll share the discussion between Matt and Nic Yoemans as they looked into the differences between mediocre and successful advisors, the significance of mindset and intentionality, and why you need to challenge the status quo and seek coaching to break through barriers. Lastly, we’ll share about focusing on owning your identity and not apologizing for who you are and the importance of committing to your destination and surrounding yourself with those who support your growth.
Listen to this week's podcasts:
A Disturbance In The Force… [Episode 224]
Raising Your Gaze and Being Coachable with Guest Nic Yeomans
Own It Already!
https://bit.ly/46jPSrl
Jamie’s tackling identity and ownership and the gritty reality of pursuing your dreams. She shares the need to confront the uncomfortable truth: not everyone in your life truly wants you to succeed, but you need to acknowledge whether you’re pursuing your best self. If you've ever hesitated to chase your dreams or felt ashamed of your aspirations, this episode is your wake-up call. Get ready to own your identity, own your goals, and own your success – because that's how you become the best there is.
https://bit.ly/457obRv
Matt is joined by advisor Nic Yeomans from Yeomans Consulting Group to tackle the question of what sets successful advisors apart from the rest. From the seasoned but mediocre to the fresh faces already conquering the industry, Nic and Matt explore the habits, mindsets, and actions that make all the difference. They discuss the pivotal role of mindset and intentionality in achieving success, shedding light on how easily we fall into routines that hinder growth and the transformative impact of having a coach and seeking guidance from those who have paved the way for others.
https://bit.ly/46mCRNF
Micah and Matt are ready for some confessions in today’s episode about exceptions to the rules. And how, by having well-defined systems, you can also have more flexibility when needed. Micah’s sharing two recent situations: a lengthy client meeting and another outside the office - both exceptions to his regular appointments. While these instances seem extraordinary in an office focused on systems and processes, they serve as a testament to the importance of client-centricity and going the extra mile. Listen as they share the profound impact advisors can have on their clients' lives.
https://theperfectria.com/podcast/224
We’re recapping a topic Matt and Micah rarely discuss: investments. And how their approach has evolved from talking excessively about investments to realizing that it's not always the key to client success. It’s important to align investments with a broader financial plan, which debunks the myth of custom portfolios and focuses on clients' ultimate goals rather than emotional risk tolerance. We also review the often-overlooked significance of sound bookkeeping for financial advisors. Lisa Zeeveld, from Belay, joined Matthew to highlight the dangers of DIY solutions and the value of expert guidance in optimizing business finances. Lisa advocates for intentional financial statements to enhance long-term business planning. Lastly, we’re sharing how Jamie underscores the need for financial advisors to prioritize their own financial well-being, offering valuable insights into team education and succession planning. Listen in as we recap this week’s highlights and action items.
Here are this week's episodes:
My Investments Are Bigger Than Yours [Episode 223]
Delegation & Bookkeeping Breakthroughs with Guest Lisa Zeeveld
Succe$$ion
https://bit.ly/3Rm6PgS
Jamie is sharing that in a world of financial advisors claiming to be "comprehensive," they've done a terrible job distinguishing what they do and who they serve. It's like trying to find your way in a maze of financial jargon. Instead, her approach is to be a client’s financial lifeline from day one – they're not just here for the big decisions; they're the 411 and the 911. She’s also sharing some hard-to-notice realities: You're likely great at helping others, but you're terrible at taking care of yourself. That includes looking at your succession plan because it's not just about retirement at 65; it's about preserving those relationships you've built over a lifetime. So, stop taking things for granted and give yourself the same TLC you give your clients.
https://bit.ly/3LmQlRG
In today’s episode, Matt is joined by Lisa Zeeveld, CFO of Belay, to discuss the ways delegating bookkeeping can help you elevate your business. In a culture obsessed with DIY fixes, Lisa shares the harsh truths about how trying to save a buck can cost you much more in the long run. From cleaning up your financial books to letting go of that 'jack of all trades' mentality, she'll challenge your financial assumptions, making you rethink how you manage your money and business.
https://bit.ly/3PomvO2
In a departure from their usual topics, Matt and Micah are shedding light on one of the least discussed subjects within their office with clients and prospects - investments. They recall the pitfalls of fixating too much on investments, a common trap that many advisors fall into, and assert that clients don't hire you for your investment expertise alone; they delegate to you for a reason. The duo exposes the fallacy of custom portfolios and instead shares that investments should be viewed as a tool for securing an income that lasts a lifetime. As advisors, you want to be the voice of reason and align every recommendation with your client's ultimate goals.
https://theperfectria.com/podcast/223
Let’s talk about the reality of assistant expectations in the world of leadership. We’re recapping Matt and Micah’s experiences and insights on effective delegation and team management, where they stress the importance of clear communication, setting expectations, and creating a supportive environment for your team. We’ll also share tips from Libby Greiwe, from The Efficient Advisor, as she discussed the power of themes and systems in building a successful practice. Lastly, we’ll review the dynamic between visionaries and integrators in the hiring process, emphasizing the need for clarity and realistic promises when bringing new team members on board.
Listen to this week's episodes:
Common Assistant (Team) Myths [Episode 222]
The Power of Working in Themes with Guest Libby Greiwe
You Promised What?!
https://bit.ly/3EMhAS9
In this episode, Jamie tackles the gritty truth of hiring and employee promises. She emphasizes the importance of aligning visionaries, who can generate endless ideas, with integrators, who keep those ideas on track. Jamie highlights the need for clear communication in job offers and cautions against overpromising, stressing the importance of being intentional about what you can and can't deliver. She also challenges the notion of entitlement in new hires and underscores the significance of earning one's way to ownership. Jamie shares the secrets to finding the right people for your team, those who embrace opportunities and are truly "all in."
https://bit.ly/460aHIo
Matthew Jarvis welcomes Libby Greiwe from The Efficient Advisor to share her wealth of knowledge drawn from successfully managing a million-dollar practice while working just 24 hours a week. Libby emphasizes the importance of deepening client relationships through themed financial planning, continuous client education, and value-added services. Discover how focusing on themes can revolutionize your practice, making it more engaging, educational, and, ultimately, more successful. Tune in to explore the art of providing exceptional value and building a thriving advisory community.
https://bit.ly/45I0Reo
Matt and Micah are tackling the art of delegation and team leadership. From the pitfalls of assuming assistants can work magic to the critical importance of clear communication, they shed light on the intricacies of delegation. Discover the essential distinction between process problems and people problems and how leaders set the tone for a team's culture. Learn why delegation isn't a one-size-fits-all solution and the crucial role that clear communication plays in achieving results. Plus, uncover the keys to building a culture where accountability thrives.
https://theperfectria.com/podcast/222
In this recap, we’ll start by breaking down the myths around surge schedules, the importance of maintaining a set calendar, and invaluable tips on communicating with clients and optimizing your team's productivity to deliver maximum value during surge periods. Next, we’ll share Charlie Walker’s awe-inspiring journey, cycling from Britain to the farthest points in Europe, Asia, and Africa, which teaches us that sometimes, all it takes is that first step over the doorstep mile to embark on life-changing adventures, embracing the unexpected and gaining a deeper understanding of the world and ourselves. Lastly, we’ll share the value of starting at the bottom and working your way up in your career. Discover how humility, a willingness to ask questions, and doing the work yourself can not only make you a better leader but also open doors to growth and opportunity that you may have otherwise missed.
Listen to this week's episodes:
Wait? Surge Again? Hell Yeah! [Episode 221]
Journey Beyond The Doorstep Mile With Guest Charlie Walker
Curious ?'s
https://bit.ly/3qTALWF
Jamie emphasizes the significance of beginning your career journey at the grassroots level, debunking the prevalent notion that instant success is attainable right out of college. She discusses her experiences with individuals who yearn to elevate their careers and shares insights into true ownership, emphasizing it's about taking risks, not just reaping the rewards. She underscores the need for responsibility, curiosity, and a willingness to ask questions, emphasizing that fearing questions is detrimental to professional growth. Furthermore, Jamie suggests that one's past should not hinder future opportunities, advocating for starting at the bottom, gaining inside-out knowledge, and leading by example. Jamie encourages aspiring leaders to be willing to do the work they ask of others, earning respect and trust in the process.
https://bit.ly/3EjdmRG
Matt dives into the incredible journey of adventurer and author Charlie Walker from the UK, who shares his lessons on curiosity, courage, and taking the first step into the unknown. From cycling across three continents to exploring off-the-beaten-path destinations, Charlie's story teaches us that embracing our passions, starting despite uncertainty, and taking small steps can lead to life-changing adventures. Discover how he finds balance in a traditional lifestyle and why sharing your goals with others is the key to turning dreams into reality. Tune in for a dose of motivation and the wisdom of someone who's truly lived life on the edge.
https://bit.ly/3PhIrv9
Surge is around the corner, and Matt and Micah are diving into this game-changer for financial advisors. Discover how strategic calendar management can reshape your client relationships and industry impact and the importance of unwavering consistency in your scheduling to maintain productivity and client value. Unearth why Surge isn't just a tactic but the bedrock of a thriving practice and how clear communication policies can enhance client interactions. Lastly, the guys will explore the secrets to team alignment and automation that make Surge more than just a vacation plan.
https://theperfectria.com/podcast/221
Are you aware that industry jargon might not resonate with prospects and clients? Learn the difference between the true value and a mere volume of tasks and why you need clear, concise, and impactful interactions. Curious about the importance of an organized approach to compliance? Learn insights about record-keeping, the role of documentation, and the benefits of involving compliance professionals early in the process. How consistent are you with your practice and guiding the next generation towards leadership and positive influence? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
STOP Delivering Value! [Episode 220]
Sunlight Is The Best Disinfectant - Compliance Talk with Guest Chris Stanley
You May Be The Problem
https://bit.ly/3qI9oP9
In this episode, Jamie highlights the paramount importance of practice regardless of one's role, underlining its role in personal growth and leadership. She discusses her family's commitment to teaching foundational values and leadership skills to the younger generation and emphasizes the significance of guiding young adults and fostering positive influence during their formative years. Jamie stresses that you need to recognize the impact of every choice on your journey of self-improvement and leadership.
https://bit.ly/3E4rJsW
Matt is joined by Chris Stanley from Beach Street Legal, a specialized law firm and compliance consultancy exclusively dedicated to Registered Investment Advisers (RIAs). Chris will share how their focused expertise enhances compliance efforts and why starting with a structured and organized approach is crucial. He’ll discuss the power of meticulous documentation, the benefits of a proactive compliance strategy, and the collaborative magic of transparency. Delve into the world of compliance fears and how they can be tamed through a methodical approach. Join Matt and Chris as they talk through the secrets of effective compliance management, highlighting the importance of timely attorney involvement and the notion that no question is too small.
https://bit.ly/47BzWT3
In today’s episode, Matt and Micah dive into a critical distinction between internal team language and client communication when discussing value. Drawing from their experiences, they emphasize the importance of articulating industry concepts in a client-centric manner, ensuring clarity and actionable advice. They highlight the concept of value being subjective and rooted in the client's perception, stressing the significance of empowering clients to define what holds value for them. Education is a powerful tool because you want to enable clients to make informed decisions, and quality prevails over quantity, so be sure to prioritize personalized, practical insights that resonate and simplify.
https://theperfectria.com/podcast/220
Using software for tax projects can’t replace the expertise of a skilled financial planner or human touch and understanding. The craftsman behind the tools matters more than the tools themselves. Podcasting as a niche-focused, engagement-driven client communication tool is powerful and can enhance an advisor's influence. Understand that your authenticity matters and that active listening is imperative as a financial planner. Starting from the prospect's first impression, do you understand the significance of new client onboarding and the lasting impact it creates? You need to provide exceptional value and a rich experience that exceeds expectations, all the way from initial interactions to long-term relationships. Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
You Can’t Do A Tax Projection Without Software…Or Can You? [Episode 219]
Cutting Through the Noise With Guest Matt Halloran
Dude, You Started It!
https://bit.ly/3OZQD3b
Jamie dives into new client onboarding and the significance of setting clear expectations right from the first interaction. The promises made, and content delivered during the prospect meeting are pivotal in creating a strong foundation for the client relationship. Making a meaningful difference is imperative, and you want to deliver value from the outset, so remember that every detail matters, from the scent of the office to the smallest amenities. That initial experience can shape the entire client relationship.
https://bit.ly/45uKL7w
In today’s episode, Matt is joined by Matt Halloran from ProudMouth to explore the concept of unapologetically being yourself in your content. This authenticity is the accelerator for influence - the only marketing that truly resonates in today's world.
Matt Halloran emphasizes the shift from selling to connecting and that you must build influence that compels people to want to buy, and to do that, you must embrace your authentic self. Authenticity not only avoids burnout but also solidifies your place within your industry.
In a world of information overload, regurgitating generic content is just noise, so you want to know your audience deeply, understand their real problems, and address them with passion. This approach creates genuine connections that transform everything.
Matthew Jarvis and Matt Halloran will also discuss the vital art of listening. Whether it's through hosting guests on your podcast or interacting with clients, active listening shapes success. This trait differentiates great financial planners from the rest. The wisdom to listen brings about transformational change.
https://bit.ly/3YDQXb0
In today’s episode, Matt and Micah talk about the intricacies of tax projections and financial planning and the vital role of human expertise and critical thinking. While software can aid the process, it cannot replace the skills of a skilled financial planner, and, unfortunately, relying solely on software can lead to inaccurate results and a lack of awareness of potential errors. They’ll also stress the importance of effective communication, asserting that even the most sophisticated software is useless if clients cannot grasp its implications.
https://theperfectria.com/podcast/219
In today’s recap, we’ll highlight some of the challenges Matt and Micah shared with prospecting and setting realistic expectations. Consider the importance of taking risks, embracing rejection, and finding a proven strategy to attract clients.
We’ll also recap the insights from Philip Taylor, the founder of PTmoney.com and FinCon, who shares tips for financial advisors attending events to grow their businesses.
And, we’ll talk about Jamie’s recommendations for overcoming fear and pursuing greatness, urging you to take action and draw up a plan to achieve your goals.
Listen to this week's episodes:
You Thought It Would Be Easy…[Episode 218]
Your Money Tribe: Uniting Forces & Creating Content with Guest Philip Taylor
Stop Being A Failure
https://bit.ly/3QQpG3p
Jamie delves into the power of fear and how it holds us back from achieving greatness. She encourages reflection on moments of uncertainty and discomfort in their lives, emphasizing that fear of failure and lack of control often hinder progress. Have you asked yourself, "What if this works?" and taken steps to create a plan to overcome fears and pursue your dreams? And are you surrounding yourself with supportive people and like-minded professionals? Don’t settle for mediocrity.
https://bit.ly/3QxpO7z
Matt is joined by Philip Taylor, also known as PT, the founder of PTmoney.com and FinCon. They dive into the origins of FinCon as a community meetup for personal finance bloggers and how it evolved into a collaborative event focused on sharing ideas and fostering a sense of abundance among money experts. They discuss the inclusive speaker selection process, the diverse tracks offered at FinCon for financial advisors and coaches, and the importance of embracing a unique voice in content creation. Additionally, they highlight the significance of treating blogging as a dynamic and constantly evolving entity, emphasizing proactive content monitoring to stay relevant and connected with the audience.
https://bit.ly/3qsif7p
Matt and Micah are diving into the world of prospecting and marketing, shedding light on the challenges that often lead to soul-crushing experiences. They stress the significance of setting realistic expectations, as many advisors underestimate the difficulty of these tasks, but embracing rejection and risk-taking is essential for effective prospecting. They’ll share how they make sure to draw a clear line between marketing and advertising activities, highlighting the need for measurable ROI and client action and caution against falling into the trap of following flashy success stories without considering the hard work behind them.
https://theperfectria.com/podcast/218
Have you considered the effectiveness of the one-page financial plan in demonstrating value to prospects, especially DIYers? By setting clear guidelines and delivering actionable advice, financial advisors can provide much-needed assistance to clients while ensuring they stay on track toward their goals.
We’ll also recap an inspiring journey to success with a focus on doing the work and being intentional in achieving one's financial ambitions.
Also, have you considered charging for prospect appointments? By charging for their time, advisors can filter and prioritize prospects, ensuring a focus on those genuinely interested in their services.
Listen in to this week’s highlights and action items.
This week's episodes:
Everybody Is A DIYer Until They Meet A Really Good Advisor [Episode 217]
Just Do The Work: Rinse and Repeat With Guest Amyr Rocha Lima
Fricken DIY’ers
https://bit.ly/3Qsn7Es
Jamie discusses the topic of DIYers (Do-It-Yourselfers) and the challenges they pose to financial professionals. She explains that after encountering individuals who sought to extract valuable information without any intention of becoming clients, referring to them as "brain suckers," they realized that their negative attitude towards these meetings was counterproductive. People approached them seeking information, which prompted a change in approach to charging for prospect appointments. No matter what, your primary focus should always be on delivering as much value as possible during these meetings.
https://bit.ly/3Okps1p
Amyr Rocha Lima joins today’s episode to discuss the importance of doing intentional work and overcoming self-limiting beliefs to achieve success. It’s time that you "stop the noise" and not be influenced by negative external factors or opinions. Instead, Amyr encourages listeners to focus on doing the work and learning from those who have more experience.
https://bit.ly/3OHX4HW
Matt and Micah focus on the concept of the One-Page Financial Plan and how financial advisors can demonstrate value, especially when meeting with DIY investors. They’ll talk about the importance of setting expectations for delivering massive value during client meetings and how to avoid confusing value with the volume of information. Later, they’ll discuss the significance of tailoring the financial plan to the client's goals and answering their questions effectively, as well as how a one-page financial plan can be concise yet comprehensive, driving action and fostering ongoing client relationships while offering guidance and a structured approach for young advisors.
https://theperfectria.com/podcast/217
Do you understand the importance of sales in addressing various challenges and achieving growth, and are you focused on delivering value and taking chances?
Do you know what to look for when hiring a Virtual Assistant, what skills are important, and how to ensure you start and maintain a positive working relationship?
Are you aware of the significance of crafting an impactful elevator pitch and why you want to create curiosity in conversations? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Conquer or Crumble: How's Your Prospecting Going? [Episode 216]
Unleashing the Power of Virtual Assistants with Guest Karen Stewart
No One Wants To Talk To You
https://bit.ly/44SEceC
Jamie highlights the significance of practicing and perfecting our introductions and communication skills to where you go beyond job titles and convey what sets you apart from others in your field. Understanding your target audience and solving their problems is crucial for success. Jamie talks about how to create conversation points that help others filter themselves and to develop a unique selling proposition and why you need to deliver a clear and concise message that sparks curiosity while illustrating the benefits of your services.
https://bit.ly/477PDkA
In this episode, Matt is joined by Karen Stewart from BELAY to talk about valuable insights on hiring and working with virtual assistants (VAs). Karen emphasizes the significance of finding the right fit based on skills and personality, building strong personal connections, and fostering open communication, as well as highlighting the importance of ownership, trust, and empowering VAs. She’ll share the key elements of successful VA-client relationships, including expertise, passion for service, trust, effective communication, and mutual support.
https://bit.ly/3O5FKeA
Matt and Micah discuss the power of effective sales and prospecting strategies. They’ll highlight the importance of being intentional with time, taking risks, and delivering value, as well as talk about the discomfort of hearing 'no' but stress that it is a stepping stone to a rewarding 'yes'. The guys also unpack the concept of a 'perfect week', a roadmap to stay on track and continuously deliver value. Learn more about the significance of having a written prospect process and sticking to it in order to guide appointments.
https://theperfectria.com/podcast/216
Are you aware of the importance of paying attention to small details in client communications, and how much they can impact the outcome of a meeting? Curious as to how someone takes their frustrations with traditional custodians and creates their own? What types of communication techniques do you use to simplify complex ideas and engage clients?
Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
It's Nothing, Right? No! The Little Things Are What Matter [Episode 215]
Disrupting Giants With Guest Jason Wenk
Say This
https://bit.ly/46Xyxpm
Jamie discusses the importance of effective communication in conveying strategies, plans, and ideas to clients, teams, and even family members. She emphasizes the significance of using words that simplify complex topics that will have a lasting impact on clients. Jamie shares several go-to phrases that help create collaborative experiences, empower teams, and initiate meaningful conversations. By mastering these communication techniques, you can build strong client relationships and confidently navigate tough conversations.
https://bit.ly/3pPRgTf
In this episode, Matt is joined by the CEO and Founder of Altrust, Jason Wenk, where they discuss the exciting opportunity Jason sees in launching his own custodian and taking on the industry's giants. Having built successful RIA firms in the past, Jason identifies the frustration that arises when dealing with custodians as an advisor, particularly when scaling up. He believes current solutions are retrofitted for consumers and not tailored for advisors, leading to increased costs and subpar user experiences. Jason also debunks the narrative that migrating custodians is complex, emphasizing a simplified, streamlined process.
https://bit.ly/3OgMNST
In today’s episode, Matt and Micah delve into the topic of client communications and the importance of focusing on the little things - because they DO matter. They’ll discuss how small details can have a significant impact on the success of a client meeting and the need to create a positive experience for clients by paying attention to various factors, including how you greet clients and how you ask questions. Listen as they provide ways for advisors to stack the deck in their favor by ensuring that everything counts in a positive way.
https://theperfectria.com/podcast/215
Team training is all about improving and resetting expectations, reminding you how and why you do things, so are you doing them consistently? Have you considered how to maximize your career enterprise value? And how on earth do you create a rockstar team that is on board with your big goals? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
How To Train Your Team [Episode 214]
Unveiling True Costs: Navigating the Financial Advisor Landscape With Guest Louis Diamond
My Team S*&!S
https://bit.ly/3pCYQAA
Are you struggling with assembling the perfect team? In today’s episode, Jamie breaks down creating a team filled with rockstars, from where to place those hiring ads to how to handle existing teams if they’re struggling to get on board with your goals.
https://bit.ly/46KXeW0
Matt is joined by Louis Diamond, President of Diamond Consultants, a leading financial advisor recruiting firm. They delve into the often misunderstood world of financial advisor fees and the importance of understanding the true cost of your career decisions. From the spectrum of advisors' fee knowledge to uncovering hidden costs, Matt and Louis emphasize the need for advisors to grasp the value they receive from their current channel and how it aligns with the charges. They also discuss the significance of taking control of your career destiny and making well-timed moves to maximize your career enterprise value.
https://bit.ly/43gUWuM
In this episode, Matt and Micah discuss the importance of team training which allows leaders to actively engage with their teams, identify areas of improvement, address hidden issues, and honor team concerns. They’ll highlight the significance of creating an environment where team members want training, emphasizing autonomy, mastery, and purpose as key drivers and the logistics of team training.
https://theperfectria.com/podcast/214
In today’s episode, we explore the art of saying "no", setting intentions to prioritize what truly matters, and seven tips that are stopping you from achieving growth. Discover how advisors can deliver exceptional value to clients, and the power of finding your niche and targeting your ideal customer. Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Top 7 Things You Have To Stop Doing To Be Successful [Episode 213]
Unlocking Advisor Success & Adding Six Figures With Guest Sten Morgan
Niche Slapping Time
https://bit.ly/44i1xqe
Jamie explores the question of whether it's better to be an expert in one subject or have knowledge in multiple subjects. Becoming an expert in one subject has many applications and can propel you forward so it’s important that you find your niche and target your ideal customer avatar or profile. Jamie will also share a step-by-step exercise to narrow down your niche and understand your target audience's demographics, values, interests, and pain points.
https://bit.ly/3JOTeKd
In today’s episode, Matt is joined by Sten Morgan, from Elite Advisor network, to share transformative lessons about delivering value to clients. Sten shared how he helps advisors overcome self-doubt and unlock their potential, and encourages advisors to add six figures or more to their businesses. Discover the power of creating unique experiences, implementing investment decision filters, quantifying your value, and learning from top professionals.
https://bit.ly/3JKI09o
What do you need to pay the most attention to in order to grow, and have you considered the little things that you do that are stopping you from becoming successful? In today’s episode, Matt and Micah tackle 7 things you need to stop doing in order for you to get to that next level. While some might be simple and others might be uncomfortable, they all require you to be intentional with your actions and activities.
https://theperfectria.com/podcast/213
Are you so focused on 10Xing that you forget to do the work needed because you assume that truly will be easier than 2Xing? How are you leveraging technology to increase the value you’re delivering to clients? Are you guilty of not following your own rules and boundaries, thinking that it’s helping others? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Trying To 10X? Just Do The Work! [Episode 212]
Leveraging Technology With Guest Ben Goss
Charity Is Toxic?
https://bit.ly/3JzXPzO
As an advisor, you want to help people. You’re likely driven to want your clients to succeed and are drawn to the opportunity to help others. But at what expense? In today’s episode, Jamie discusses why you need to set expectations and have clear rules that you follow so that you balance helping clients while still focusing on your growth and goals. Giving to others and helping them is important, but there is a point where that charity can be toxic and impact not only the value you’re delivering to clients but your profitability and the client as well.
https://bit.ly/3r6zZ8r
As humans, we aren’t necessarily hard-wired to think about saving and investing in our future, which is why Financial Advisors play such a critical role. In today’s episode, Matt is joined by Ben Goss, the CEO and Founder of Dynamic Planner in the UK. Ben shares how he began his business with the goal of where he felt he could make the biggest impact, and how by utilizing technology, not only does it provide more value to your clients, but it frees up more of your time as well.
https://bit.ly/46kxwYh
2Xing is great, so naturally 10X sounds even better, right? But is it actually easier? In today’s episode, Matt and Micah talk about how sometimes people forget about doing the work that must be done in order to 2X and move the needle in your business. There isn’t a magic wand that will skyrocket your growth, so they’ll go through steps you can take and the work you need to put in to get closer to 2X.
https://theperfectria.com/podcast/212
Are you looking for an excuse for why you can’t do the hard things? How much practice are you putting in, and are you seeking out those who are excelling? Do you fall off your routine or think that outside of surge, you don’t have to be intentional about your time? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Stop Being Lazy [Episode 211]
Improving Through Mentorship And Practice With Brady Bassford
God Didn’t Make Tables!
https://bit.ly/3Np39ab
It’s summer, and you’re outside of surge. Did you forget about your goals and your routine and that you still need to be intentional? In today’s episode, Jamie talks about the three tenets of The Perfect RIA and how to make sure you’re hyper-focused so you can create and maintain your lifestyle practice.
https://bit.ly/3NHfuYF
Advisors who are at the top of their game didn’t get there by accident. It’s through constant learning, improvement, and putting in the reps that you get to that next level. In today’s episode, Matt is joined by Brady Bassford from the Mid-Atlantic Financial Group to share his journey as an advisor and director and how through mentorship and guidance, he quickly improved his skills and the value he was delivering to clients.
https://bit.ly/3JksAbJ
Most advisors would never say that they’re bored; instead, the most common reason they claim they’re unable to change or improve is that they’re too busy. In today’s episode, Matt and Micah talk through why you’re not too busy; you’re just playing office. Listen in as they discuss areas where advisors get into trouble by choosing to do the easy things instead of the hard things and how taking the easy way won’t help you get closer to the success you want.
https://theperfectria.com/podcast/211
Are you setting up limiting beliefs in your practice with how many clients you can serve? Do you maintain a set of values that help guide your business decisions? Do you want to be a liked leader or a great leader? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Why Are 50 Clients Too Many? [Episode 210]
Core Values With Guest Ross Welte
Leaders You Shouldn't Follow
https://bit.ly/3qM7T2c
Are you the type of leader who wants to be liked, and you’ll do everything to make that a reality? What if, by doing that, you’re destroying your organization? In today’s episode, Jamie shares the worst type of leader and the consequences of creating an environment where your team has no accountability.
https://bit.ly/46mMLzY
Striving for perfection is wonderful, but is it stopping you from moving forward in your business? In today’s episode, Matt is joined by Ross Welte from 5 Stone Financial Group to talk about why choosing to take action helps you to keep improving. Ross will also share how he and his business partner use core values as a filter for every business decision that they make, including which clients they choose to work with.
https://bit.ly/43IcS2E
If an advisor says that it’s only possible to serve a certain number of clients, would you believe them? Instead, you should consider where that and any other limiting beliefs come from. On today’s episode, Matt and Micah shut down the idea that advisors can only have a certain number of clients in order to provide more service than others. Listen in as they share what numbers you need to be looking at and why it comes down to what you’re solving for and being intentional.
https://theperfectria.com/podcast/210
How much and what are you doing to create and prepare for sharing content? Discussing tax strategies can be hugely beneficial for your clients, but are you simplifying explanations? How much weight do you give to the words that you’re using? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Creating Valuable Content [Episode 209]
Making Taxes Easy with Guest Steven Jarvis
Words Matter
https://bit.ly/3P31k5e
Do your clients need financial credentials to understand what you’re saying because it’s all industry jargon? And if you think that hitting a certain number of words per minute equals a great client meeting, you may want to adjust your goals. In today’s episode, Jamie explains why what you say is so important, especially when responding to clients’ questions about not outliving their income in retirement.
https://bit.ly/3CdABeK
When explaining taxes to your clients, it should be as detailed and in-depth as possible to make sure they understand it as well as you, right? How about instead, you simplify something that is complex and, in turn, empower your clients to take action? In today’s episode, Matt is joined by Steven Jarvis from Retirement Tax Services to discuss why you need to focus on certain areas of tax planning and why explaining tax strategies as simple as possible and being proactive leads to a better understanding and a higher level of trust.
https://bit.ly/42tNagP
Creating content is easy, right? You hit record or start typing, and then it’s magic! What typically happens is you forget your ABCs as soon as you hit that record button, or the words just don’t flow when you need them to. In today’s episode, Matt and Micah talk through how the process of creating content, like most things, requires being intentional and putting in the reps.
https://theperfectria.com/podcast/209
Are you connected with others who have the same mindset as you that can help you understand what’s really happening in your practice? Are you open to delegating to team members so that you can increase your productivity? Are you open to criticism, and are you surrounding yourself with people who push you toward success? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Why Financial Undressing Matters [Episode 208]
Team Building For Financial Advisors With Guest Christine Timms
Taking Criticism
https://bit.ly/3qj1onb
Are you a keyboard warrior or the one calling the shots from the cheap seats? Or are you constantly praising others or expecting the same in return? Criticizing from a place of judgment or for the sake of starting a fight leads you to the same place when you deliver nothing but praise…nowhere. In today’s episode, Jamie explains that there’s a right way and a wrong way to deliver criticism when the end goal is to focus on success.
https://bit.ly/43mA1aG
Understanding your highest and best use so you can focus on the things you most enjoy are key to helping your growth. On today’s episode, Matt is joined by former Financial Advisor Christine Timms, who is a consultant and creator of handbooks and templates to help other Financial Advisors better serve their clients. Christine shares how she grew and structured her team in a way that helped lead her to the success that she achieved and how other advisors can do the same.
https://bit.ly/3IP662s
If your idea of a mastermind means sharing numbers in your head and cheering on another advisor who vaguely remembers their number of client meetings or guesses at their gross revenue, then you’re doing a disservice to yourself and to others. On today’s episode, Matt and Micah explain that to be impactful and help your growth; masterminds require openness, honesty, and vulnerability from everyone.
https://theperfectria.com/podcast/208
Do you take everything into consideration when meeting with a prospect, from your handshake to how your office smells? Have you thought about the impact of writing a meaningful letter to those you care about? What does training look like for your team, and do you lead with the end result in mind? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Stacking The Odds In Your Favor [Episode 207]
The Value Of Writing A Legacy Letter With Guest Blake Brewer
You Didn’t Hire Idiots
https://bit.ly/3qfZu6G
Have you ever experienced an outcome from your team that didn’t exactly match up to your expectations or the feeling that you’re on your own episode of ‘Nailed It’, but for Financial Advisors? On today’s episode, Jamie explains why training your team doesn’t end after the first few months. She’ll walk through how structured and consistent trainings can help with professional development, client communication, and credibility within your organization.
https://bit.ly/3MVEY4k
If you had the chance, would you take the time to write a letter to those who you love? One that could help them throughout their lives or bring them peace during difficult moments? On today’s episode, Matt is joined by Blake Brewer from Legacy Letter Challenge to share how a tragic experience turned into a moment that created his life passion to help 1 million moms, and dads write a letter to their children.
https://bit.ly/433Yykl
Picture this: You have a new prospect meeting, they step into your office, you go to shake their hand and are met with yours, which feels as though it just came out of an ice bath. Do they now assume you are just a cold-hearted advisor or are you prepared for just about anything and address this with humor and confidence? On today’s episode, Matt and Micah talk through how you communicate, as well as your goal in a prospect meeting can determine whether a prospect and client has a positive experience. You don’t have to dread prospect meetings when you realize that they’re an opportunity to help change someone’s life.
https://theperfectria.com/podcast/207
Are you making the most out of the opportunity when meeting with prospects by having a process in place? What type of forcing mechanisms to you have to keep you from playing office? When you’re outside of surge, are you doing nothing, or are you still being intentional with your time while offering access to your team to help with client needs? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Just Cause Your Breath Stinks, Don’t Change The Process [Episode 206]
Unique Forcing Mechanisms with Guest Dave Zaegel
How You Can Offer Unlimited Access
https://bit.ly/3BDkmrd
When you bring on clients to your practice, you’re looking to set up a lifetime relationship with them. So how do you set expectations on when they can reach out to you or when they have questions? On today’s episode, Jamie shares how advisors can structure time during and outside of surge to answer client questions and how to ensure you have an effective communication policy in place that allows clients to always feel that they’re taken care of.
https://bit.ly/3ofNW2U
Playing office is a hard habit to break. We all do it, but have you taken the time to look at where you’re wasting your time and the impact it’s having on your practice? On today’s episode, Matt is joined by Dave Zaegel from CWOs for Hire to share how running both a tax practice and financial planning firm forced him to be hyper-intentional with his time and how his tax background has added to the value he’s able to provide his clients.
https://bit.ly/3MtbTNt
When you meet with a prospect, are you solely focused on how you close the deal, or are you changing your prospect process depending on who walks through the door? On today’s episode, Matt and Micah discuss why you not only need a prospecting process that works, but you need to stick to it! Trying to oversell yourself, creating new reports, or offering services that don’t fit with your process doesn’t benefit you or the prospect.
https://theperfectria.com/podcast/206
Do you believe that there is a capacity wall that requires you to hire another advisor? Or that this is just a self-limiting belief and you can push past that? What processes do you have in place to make sure that not only is a prospect the right fit for you, but that you’re setting expectations from the beginning and understanding exactly what your client needs? Does your team understand what will get them fired and are you being intentional about investing your time outside of surge? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
https://theperfectria.com/podcast/205
The Right Value And The Right Clients with Guest Jason Speciner
What Gets You Fired
https://bit.ly/3Bp7Dbj
Finding the right people for your organization is a challenge, but once you do, how do you make sure they’re living up to their potential, and how do they embrace the expectations that you set for them? On today’s episode, Jamie talks through ground rules for your team for not only what could get them fired but the framework for moving forward in their career. She’ll also share why you need to take a deep look into the investment that you’re making outside of surge to those who are most important in your life.
https://bit.ly/41qWtgL
An introductory call with a prospect is an incredible opportunity to understand their initial needs, whether they’re the right fit for your firm, and who is the right fit for them. On today’s episode, Matt is joined by Jason Speciner from Financial Planning Fort Collins to share his experience and process for meeting with prospects, bringing his whole team together to help strategize for clients, and how tax planning has helped him better serve his clients.
https://bit.ly/44QEP9s
Have you ever experienced someone telling you that your growth plans are wrong or not achievable? If so, then you’ve had the unfortunate experience of dealing with someone else placing their head trash on you. On today’s episode, Matt and Micah talk through this idea of a capacity wall and why under no circumstances should you believe that it exists! They’ll share why you need to look past your self-limiting beliefs and instead focus on where you may need to shift or pivot to continue your growth.
https://theperfectria.com/podcast/205
Would you run a marathon the day you decide to start running? If not, then you’ll understand that jumping from zero surge meetings to 30 in a week is not a recipe for success. Are you interested in content marketing and using social media to gain clients? What are you doing to prepare for presentations that are in less-than-ideal conditions? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Did Surge Abandon You? [Episode 204]
Content Marketing With Guest Dave Zoller
Amateur Hour
https://bit.ly/3VyHK2j
When it comes to presentations, whether in front of a large audience or with a client, are you winging it? If you don’t take the time to practice, how do you know how to handle scenarios such as phones ringing or side talk? On today’s Worlds To Conquer, Jamie walks through a recent rehearsal in her office for a client event and why you always need to be prepared for imperfect conditions.
https://bit.ly/3padZZz
Do you think that social media is an instant way to get referrals and clients? Do you just post anything that comes to mind and sit and wait for someone to knock on your door? On this episode of What Works Wednesday, Matt is joined by Dave Zoller of Streamline Financial Planning, who has created a successful system and process for attracting clients and referrals through social media and content marketing. Dave will share how he started creating content and the importance of being intentional about educating others and about your time.
https://bit.ly/3pcJbHh
If you’re new to skiing and it’s your first day on the bunny slope, would you move to a double diamond on day two? No way! The same idea goes for surge. You can’t go from zero meetings to thirty and expect that it’ll go well and that you won’t burn out. On today’s episode, Matt and Micah talk through some of the most common myths and illusions about surge and why you want to live your ideal practice now.
https://theperfectria.com/podcast/204
Have you considered that your productivity may be stagnant because you never leave the office, you’re constantly working, and therefore never NOT working? Have you taken time to think about what you get out of your work other than money and financial stability and how you would replace that if you were no longer working? How do you handle mistakes, and do you listen to your gut when you think things may be off track? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
The Office Will Burn Down If You Go On Vacation [Episode 203]
What Works Wednesday - The Seller’s Journey With Guest Denise Logan
Worlds to Conquer - When #$@# Goes Wrong
https://bit.ly/3Vdoirp
Don’t kid yourself. You know that it’s not a matter of if things will go wrong, but a matter of when. And when it happens, how are you handling it? Is it full on panic mode and is your team trying to appease a client, and in reality only making it worse? On today’s Worlds To Conquer, Jamie goes through the steps of how to handle those situations and how to come together as a team to make sure they don’t happen again.
https://bit.ly/424abHm
The transition of selling your business involves more than just leaving and walking away with a good deal. Leaving your work, whether through your own plan or unexpectedly, involves so many emotions as so often we equate who we are with what we do. On today’s What Works Wednesday, Matt is joined by the author of The Seller’s Journey, Denise Logan, to discuss why you should have your own exit strategy, the importance of working through the emotions that come with selling your business, and why planning for your own exit can help you connect and provide more value to your business owner clients.
https://bit.ly/3L5t4mm
Is having an office that hasn’t been burnt to a crisp the threshold you’re working under when you take time out of the office? Or are you operating on the extreme end of having your team handle tasks that only you can do while you’re gone? On today’s episode, Matt and Micah talk through the process of taking time out of the office and the need to fear set with your team and your family to make your vacation, and the absence in your office, a positive one.
https://theperfectria.com/podcast/203
Are you aware of all the little things that can help or hurt your credibility, such as relating to your clients on an emotional level? Do you look at your environment and focus on the barriers, or are you pushing forward and implementing any change to improve your practice and your life? What’s your worth? Have you taken the time to look at who you serve and who you want to become? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Do You Even Have Credibility? [Episode 202]
What Works Wednesday - Working Past Limitations With Guest David Edmisten
Worlds To Conquer - Chasing Money VS. Delivering Massive Value
https://bit.ly/41LIhzN
Are you so focused on money that it’s your primary objective in your career as a Financial Advisor? If so, you’ll never be satisfied with your goals. On today’s episode, Jamie talks through the main questions you need to ask yourself in order to ensure you’re focused on delivering so much value that the money starts chasing you.
https://bit.ly/40oSXmD
Sometimes advisors may feel limited in what TPR practices they can implement, but is there a way to move past that? On today’s What Works Wednesday, Matt is joined by David Edmisten from Next Phase Financial Planning, who, while an employee advisor, took the recommendation of ‘Do What Works’ and worked past company constraints. David will share how he managed to implement the concepts that Matt and Micah recommend at The Perfect RIA by trying one at a time and how he saw tremendous results with his clients and personal life.
https://bit.ly/41AN47a
You know that with your clients, everything you do either helps or it hurts - everything counts! On today’s episode, Matt and Micah discuss all things credibility and that when your prospects or clients push back or have objections to you, it’s more than likely a lack of credibility. But then what do you do? Top advisors are always looking for ways to demonstrate their credibility, so be sure to communicate and set expectations with your clients and do what you say you’re going to do.
https://theperfectria.com/podcast/202
Bringing on a high-caliber assistant can mean the difference between someone who knows how they can help you versus someone who just responds to a task, but how do you find the right person? How does working with an agency help create a successful match in which you truly get back time in your life to focus on other things? How are you communicating with your executive assistant, and are they problem solvers as well as someone who values privacy? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Why Aren’t You Delegating To A Virtual Assistant? [Episode 201]
What Works Wednesday - Hiring An Assistant With Guest Tricia Sciortino
Worlds to Conquer - Client Events and Executive Assistants
http://bit.ly/3o4mxAp
Do you have someone in charge of expected and unexpected needs when planning a client event? On today’s Worlds To Conquer, Jamie shares some of the questions we’ve received on hiring an Executive or Virtual Assistant, as well as how having someone dedicated to handling logistics and representing you and your brand can further allow you to focus on only the things you can do.
http://bit.ly/406EMTh
Are you being your own assistant and handling things you shouldn’t? On today’s What Works Wednesday, Matt is joined by Tricia Sciortino, the CEO of BELAY, which provides virtual assistants to clients all over the US. Matt and Tricia discuss common mistakes advisors make when hiring a VA, how to decide what and how to delegate to an assistant, and how taking this step can help transform your life by giving you the time to focus your energy elsewhere and handle the decisions only you can make.
http://bit.ly/3GC77tF
Are you capable of booking your own flights? Of course, you are. How about scheduling your own client meetings - sure - but at what cost? Are doing these tasks the highest and best use of your time? On today’s episode, Matt and Micah talk about the benefits of hiring a virtual assistant so you can focus your decisions and time that only you can do. Listen in as they share some mistakes people make when bringing on a virtual assistant, as well as how to make this transition successful.
https://theperfectria.com/podcast/201
How much time, energy, and practice do you put into preparing for client events or meetings? Do you have a plan for when things will go wrong? How intentional are you when you’re presenting to clients? What rules of escalation do you have in place for your team? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
F*ing WORK! [Episode 200]
What Works Wednesday - Improving Your Presentations Through Comedy With Guest Cory Michaelis
Worlds to Conquer - Executive Assistants And Email Delegation
http://bit.ly/41dpgWF
Do you wonder what you could do if you had a little more time? Imagine having someone dedicated to handling everything except for the tasks that only you can do. In this week’s Worlds To Conquer, Jamie talks about hiring an Executive Assistant to handle your email. She’ll go through her recommendations to set this up so that you only need to focus on what needs your attention as well as walk through the importance of having rules of escalation and a communication policy.
http://bit.ly/3mhxxtB
Performers on a broadway show don’t just go on stage and decide what they’re going to sing that night, they’re prepared. Same with a comedian, their performances are practiced and rehearsed over and over again. On today’s What Works Wednesday, Matt is joined by comedian Cory Michaelis to talk about opportunities to use comedy in presentations or client meetings as well as why no matter what, practicing and rehearsing is what will make you a higher-level performer and presenter.
http://bit.ly/3nR2Dsr
It’s important to have efficiency in your practice, doing things faster, but what about the effectiveness of what you’re doing? Waving a magic wand won’t get you to where you want to go, you have to practice and put in the reps to see the success. In today’s episode, Matt and Micah discuss the idea that everything you do counts, whether in a prospect, client meeting, or a presentation. How those meetings and presentations go depends on the work you put in beforehand and how prepared you are. You need to do the work!
https://theperfectria.com/podcast/200
Do you feel guilty about the thought of bringing someone on to handle tasks that you could do yourself? Do you also feel guilty about not making your own clothes or the fuel you put in your car? Imagine freeing up your time so that you can focus on those tasks that will help you get to the next level. Also, in your mind, is conflict in your office good or bad, and do you take time to think about your emotions instead of acting on them? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Delegation 101 [Episode 199]
What Works Wednesday - Being Above Or Below The Line With Guest Adam Silberstein
Worlds to Conquer - Do You Need An Executive Or Virtual Assistant?
http://bit.ly/40QYH9E
Do you feel guilty thinking you don’t need someone else doing a task you could do yourself? Imagine having an assistant who could help give back time in your day to do the things you need and want to do. On today’s Worlds To Conquer, Jamie walks through bringing on an Executive or Virtual Assistant and how to determine what tasks can be handed over to someone else.
http://bit.ly/3KinayQ
Do you sometimes wonder why you act a certain way when you get upset or why you get so emotional sometimes? You want to feel your emotions but also be in command of your mindset, especially as a leader. On today’s What Works Wednesday, Matt is joined by Coach Adam Silberstein to talk through the concept of being above the line and below the line and how this awareness can help you personally, professionally, and with your team.
http://bit.ly/3G0pckQ
Are you overwhelmed, but you feel like you don’t have the time to delegate, or assume you need to create a 50-page documented process for delegation? News flash! Delegation can be a superpower and allow you to focus on work that delivers value and grows your practice. On today’s episode, Matt and Micah walk through why you need to delegate, even if it’s in your personal life, what are some of the first tasks that you can hand over to someone else, and how to set your own expectations.
https://theperfectria.com/podcast/199
Once surge is done, do you feel you need to keep your same intensity level or do you have a plan for that transition? Have you considered ways to add value to your clients by asking about education planning? What is the financial advisor’s perfect week outside of surge? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
What To Do When You're Out Of The Office [Episode 198]
What Works Wednesday - Education Planning With Guest Fred Amrein
Worlds to Conquer - 10X Your Practice - A Financial Advisor’s Perfect Week
http://bit.ly/3FK5UQD
Surge is a hyperfocused time for you and your team, but once it’s done, do you feel uncertain about how to make sure you’re focused on your goals and moving the needle? On today’s Worlds To Conquer, Jamie walks through a perfect week for a financial advisor that will help you stay on track, spend more time with those you love, and still be available for your team.
http://bit.ly/3LIkewJ
College planning is a lifetime decision, from saving to loan repayment, and what about planning for graduate school? On today’s What Works Wednesday, Matt is joined by Fred Amrein from Pay For Ed to talk about ways that you can deliver value to your clients by asking about education planning. With the average loan borrower over the age of 50 and retirees helping with education for their children and grandchildren, it’s important to ask clients who is talking with them about these plans.
http://bit.ly/3nckU3i
*PayForED is not a Registered Investment Advisory or CPA Firm. The information provided is general financial information, and each client’s situation is unique. This information is based on current rules at the time of the recording, which may change in the future. Any of the financial strategies or tax ideas discussed today should be reviewed with a financial professional or tax expert before making any final personal financial decision.
Surge is a high-intensity time for you - tons of client meetings, early mornings, and the constant need to be ‘on.’ But what about after surge? On today’s episode, Matt and Micah talk about how once surge ends, it’s time to move into that next piece - whether it’s family time, personal time, or another project. But how do you make that transition, and how does your team handle you being away from the office? Listen in as the guys share their recommendations for shifting gears, being present with your family, and empowering your team to handle situations while you’re gone.
https://theperfectria.com/podcast/198
Do you assume that if someone is successful and things look easy for them or do you realize they’ve been putting the reps in? Do you consider yourself a proactive advisor who educates your clients and ensures they feel confident with you? Are you ready to learn more about The Perfect RIA’s coaching program? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
10X Your Practice By Going Old School [Episode 197]
What Works Wednesday - Bringing Peace Of Mind To Your Prospects And Clients With Guest Paul Moffat
Worlds To Conquer - What Is BackStage Pass?
http://bit.ly/3n0LkVn
Would you rather learn from someone who is a so-called expert or someone who truly knows what they’re talking about and is willing to be transparent about what does and doesn’t work? On today’s Worlds To Conquer, Jamie is joined by Tracy Ottinger from The Perfect RIA to talk all things BackStage Pass! Listen in as they share information on this membership level, what you have access to, and how to use the resources we offer to improve your business.
http://bit.ly/42h9ivW
Do you feel that you must be on par with The Wall Street Journal in order to educate your clients? On this week’s What Works Wednesday, Matt is joined by Paul Moffat, President of Arista Wealth Management, to discuss why being a proactive advisor puts you head and shoulders above every other person in your client's life. Matt and Paul will also discuss why a simple excel spreadsheet can help you and your team track your clients and prospects and see how you can deliver value.
http://bit.ly/3JE0gBT
Do you assume that for someone successful that things just come easy to them, or do you realize that they’re likely putting in the reps? On today’s episode, Matt and Micah talk about how it’s easy to get distracted by new and shiny objects; however, by doing simple things…repeatedly, you can start to improve. Listen in as they share what you need to do to set yourself up for success and why you need to visualize your client meetings and positive outcomes.
https://theperfectria.com/podcast/197
The Perfect RIA Nation Power Session - March 29, 2023 - Save Your Spot Today!
Everyone gets distracted sometimes, but are you noticing when you’re playing office versus doing the work that will help propel you further? Do you realize that on some level, you’re likely already doing some type of tax planning for your clients, but you may or may not be getting credit for it? Do you feel like you’re doing the work and not seeing the results, or maybe you just haven’t realized yet that your actions contradict your goals? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Moving The Needle [Episode 196]
What Works Wednesday - Tax Planning With Guest Steven Jarvis, CPA
Worlds to Conquer - Stop Being A Slacker
http://bit.ly/3ZQng5S
The Perfect RIA Nation Power Session - March 29, 2023 - Save Your Spot Today!
Lifestyle doesn’t mean being lazy. Do you have your goals, and you want growth, but you continue to be stuck in the same spot? First, you must understand that having goals and taking action toward achieving them are different things. On today’s Worlds To Conquer, Jamie shares what steps you need to take to continue on that level of growth and show that you’re committed.
http://bit.ly/3Zxs3Jz
Are you questioning what you should or shouldn’t do related to tax planning with your clients? On this week’s What Works Wednesday, Micah is joined by Steven Jarvis, head CPA for Retirement Tax Services, as they discuss the spectrum of advisors delivering tax value to their clients (hint: you may not even realize that you’re doing tax planning!). Listen in as they talk about how working with your client’s tax preparer and educating yourself will only help further deliver value to your clients.
http://bit.ly/3ZFQvsE
How are you starting your day? Are you checking your email, commenting on others’ social media posts, and ultimately being reactive, or are you planning your days weeks in advance and being proactive? On today’s episode, Matt and Micah discuss different areas where advisors get caught playing office instead of doing the activities and work that are hyper-intentional and moving the needle. We all play office, but once you realize you’re not focused, what are you doing to get back into the necessary space to keep you on your right path?
https://theperfectria.com/podcast/196
The Perfect RIA Nation Power Session - March 29, 2023 - Save Your Spot Today!
Do you have big dreams and goals? Are you doing the same activities, thinking that things will magically change? What is your mindset about your goals, your practice, and your team and are you surrounding yourself with people who aspire to achieve more? What symptoms and processes are you putting into place, and out of your head, to help you reach those goals? Listen in as we recap this week’s highlights and action items.
The Perfect RIA Nation Power Session - March 29, 2023 - Save Your Spot Today!
Listen to this week's episodes:
10X Your Practice [Episode 195]
What Works Wednesday - An Abundance Mindset With Guest Bryan Sweet
Worlds to Conquer - Change Happens When Four Things Occur In Your Life
http://bit.ly/41DuOdY
If you’re serious about 10Xing your practice, you need to recognize the four times that a person will implement change. Implementing policies and procedures or having systems in place takes work, but even taking that smallest step can lead to big changes. On today’s Worlds To Conquer, Jamie shares how looking at your office, your client meetings, and your processes with your team can help you towards your goals and the growth you want to happen in your practice.
The Perfect RIA Nation Power Session - March 29, 2023 - Save Your Spot Today!
http://bit.ly/3kAvu30
Do you find yourself making excuses as to why you could never have your dream practice? Or are you afraid of doing things unless you feel they’re perfect? On today’s episode, Matt is joined by Bryan Sweet from Sweet Financial Partners to share how he’s created his perfect practice. Bryan shares why you should focus on doing the things you’re good at and why you need to focus on smaller steps to help you reach your bigger goals while playing the long game. Bryan will also talk about how living in a small town has been an advantage both with the clients he serves and with his team.
The Perfect RIA Nation Power Session - March 29, 2023 - Save Your Spot Today!
http://bit.ly/3Z3qH9k
Do you have big aspirational goals? Elon Musk’s goal was to colonize Mars, so kudos to dreaming big. However, are you also looking at the smaller milestones needed in order to get there, or do you think there’s some silver bullet? On today’s episode, Matt and Micah talk about how in order to hit your goals and 10x your practice, you need to actually be doing things to move that needle. That means the reps, the personal development, and choosing to do things differently than you’ve done before.
The Perfect RIA Nation Power Session - March 29, 2023 - Save Your Spot Today!
https://theperfectria.com/podcast/195
Are you making up the numbers about what your practice is really worth? Are you taking the time to set your intentions for your day and your week so you can be proactive and find fulfillment? And have your goals died this month, or are you ready to take action towards 10Xing your practice? Listen in as we recap this week’s highlights and action items.
The Perfect RIA Nation Power Session - March 29, 2023 - Save Your Spot Today!
Listen to this week's episodes:
Lifestyle Is Worth Less Than Wirehouse [Episode 194]
What Works Wednesday - Finding Fulfillment With Coach Brett Baughman
Worlds to Conquer - Are You Ready To 10X Your Practice?
http://bit.ly/3xRT2Uj
Warning! If you are ready to give up on your goals, then just move along. Really… We recommend that you only listen to today’s Worlds To Conquer if you are ready to do the work and you want to make a dramatic change in your life to 10X your practice! Jamie is ready to share the top things you can do to take steps towards action and achieving greatness.
The Perfect RIA Nation Power Session - March 29, 2023 - Save Your Spot Today!
http://bit.ly/3KzhuRX
How do you get to the point where you’re at, or getting towards, your highest potential? And do you spend your day being reactive instead of proactive? On this What Works Wednesday, Matt is joined by Coach Brett Baughman, to discuss the importance of a morning routine that will help you to work at a higher level. Brett will share how meditation can help you create your day internally so that you’re focused on more strategic, objective thinking.
The Perfect RIA Nation Power Session - March 29, 2023 - Save Your Spot Today!
http://bit.ly/3XRkX0U
Do you feel your practice is worth 1 Billion Dollars because you heard from someone about a practice that sold for 6x, 8x, 10x? On today’s episode, Matt and Micah look at practice valuation and share the importance of looking at real numbers. If you’re interested in selling your practice, you must pay close attention to actual numbers, not just what someone assumes is happening. But what if you have no interest in selling your practice? Listen in as Matt and Micah discuss why, no matter what, you need to look at your real data and pay attention to what you’re measuring.
https://theperfectria.com/podcast/194
The Perfect RIA Nation Power Session - March 29, 2023 - Save Your Spot Today!
If you think you’re delivering too much value (really??!), it may just be that you’re failing to deliver it correctly. When you’re creating content for your clients or planning client events, are you looking at what would be most valuable to them and how you can educate them? Are you ready to implement surge, but do you have some lingering questions? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
What Is Too Much Value? [Episode 193]
What Works Wednesday - Client Events With Chad Hufford
Worlds to Conquer - Your Surge Questions Answered
http://bit.ly/416shZm
Surge will transform your practice. However, it takes work to implement, and naturally, making such a large change to your practice is bound to create some questions. Are you curious about appointment schedules? What happens to prospects during surge? Do clients ever not show up? And what do you do about that dreaded head trash? On this week’s Worlds To Conquer, Jamie answers some of the most common questions we have received at The Perfect RIA regarding surge.
http://bit.ly/3YSPqN4
How are you deciding ways to connect with your clients throughout the year? If it’s to update them on the latest news story without any true purpose, then you might be doing them a disservice. On today’s episode, Micah is joined by Chad Hufford, a fellow Alaskan from Veritas Wealth Management, to talk about how he creates events and touchpoints that help build momentum and educate his clients. Micah and Chad will also discuss the lens to view with deciding what content to share as well as why you don’t have to be the expert in everything to add value to your clients.
http://bit.ly/411IXRZ
When you imagine value as a sledgehammer, does that seem positive or negative to you? On today’s episode, Matt and Micah talk through what it means to deliver value and how it can never be too much. However, it’s important to understand what is considered valuable and what isn’t (such as calling a client just to say ‘hi’). Listen in as they share why providing value is about focusing on what is beneficial to your client and why you want to look at all areas in your life where you can add value to others.
https://theperfectria.com/podcast/193
Surge and your prospect process are some of the key areas to improve your practice. What does the initial prospect experience look like, and are you educating prospects versus selling to them? When it comes to surge, are you taking the time to go through your process before a client walks through your doors or joins your virtual meeting, and what does the process look like from your team’s perspective? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
We Don’t Need Surge, We Need Prospects [Episode 192]
What Works Wednesday - Creating A Surge Process That Works For You With John Mason
Worlds to Conquer - A Detailed Look At Surge
http://bit.ly/3xaztWQ
Are you ready to implement surge, but you’re unsure of what this truly looks like both for the advisor and the team? On today’s episode, Jamie breaks down surge from the time involved before a client walks in, through the weeks of surge, and as well as after, when tasks are still being completed. Listen in as Jamie shares the schedule that allows her office to deliver massive value during this hyper-focused period of time.
http://bit.ly/40KLXlq
When implementing surge, it’s important to be intentional about your time and schedule, and understand what you’re solving for. On today’s episode, Matt is joined by John Mason from Mason and Associates in Newport News, VA. John will share how surge has worked in his practice, which his firm calls strategic planning meeting season, and how he has created a successful process that benefits his clients, including having almost all meetings as a virtual session.
http://bit.ly/3Yaiik5
Are you waiting for more clients before you start creating and implementing processes in your practice? In order to create a positive and powerful experience for your prospects, having a top notch process is key. On today’s episode, Matt and Micah discuss how the prospect process starts well before someone even shows up to your office, or for that first meeting. They’ll share why you want to look at the initial impression the prospect has and the importance of constantly setting expectations. You’ll also learn when, and how, to address the topic everyone anticipates - fees.
https://theperfectria.com/podcast/192
Implementing surge is beneficial for you, but it also creates a better experience for your client. However, surge takes work and requires preparation leading up to it. How are you going through this with your team? Have you taken the time to look at what you’re creating in your practice and your ideal life? Are you having those up-periscope meetings with your team to ensure things are happening as you believe they are? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Your Q1 Surge PlanYour Q1 Surge Plan [Episode 191]
What Works Wednesday - The Advisor Path With BenVerWys
Worlds to Conquer - Surge And Questions For Your Team
http://bit.ly/40ubGOU
You can’t assume that because you have something articulated clearly in your mind, that your team knows and understands every detail. On today’s episode, Jamie discusses why you need to have up-periscope meetings and check in with your team. She’ll share three questions that you can ask them that will deliver a better experience to your clients.
http://bit.ly/3DFAmu5
If you’re good at what you do, it’s understandable that there can be endless opportunities available to you. On today’s episode, Matt is joined by Ben VerWys, the founder of Fiduciary Financial Advisors, to share his experience, from starting as a W-2 employee to building his own firm. Ben will share the gaps that he believes exist in the industry and that there’s a path to providing value to your clients while also living your ideal life.
http://bit.ly/3Yf36BD
With Spring Surge around the corner, what are you doing to prepare now so that you are creating an incredible meeting experience for your clients? On this episode, Matt and Micah explain the concept of surge and how it’s about being intentional and providing the most value to your clients. They’ll share the importance of your team’s involvement and getting them on board.
For advisors who have been implementing surge, Matt and Micah will also discuss ways to level up to continue to improve your surge meetings. Listen in as they talk about some of the head trash that they still deal with and the best way to start your client meetings.
https://theperfectria.com/podcast/191
Are you doing whatever you can to improve the client experience? Do you practice getting comfortable with being uncomfortable? Are you trying to create your own surge schedule to see what might work or taking advantage of a tried and tested plan? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Best Communication Tips - You CAN Teach An Old Dog New Tricks [Episode 190]
What Works Wednesday - Pushing Your Comfort Zone With Bryan Garris
Worlds to Conquer - Surge: Schedules and Teams
Follow Up Friday - Best Communication Tips - You CAN Teach An Old Dog New Tricks
http://bit.ly/3wwK1z8
You do not need to reinvent the wheel to implement surge. On this episode, Jamie shares a proven surge schedule based on years of experience and understanding of when this will deliver the most value to clients. Listen in as she also discusses the different pods within her firm and how to create an environment with a strong team that performs at their highest level.
http://bit.ly/3WM6N0y
There can always be an excuse or a reason to not do something, but what if, instead, you just choose to push through and get uncomfortable to make changes in yourself and your practice? In this episode, Matt is joined by Bryan Garris from TriaGen, to talk about getting uncomfortable and how having an accountability partner can help you achieve your tough goals. Bryan will share how he transitioned from a BD to an RIA and how by becoming more intentional he’s able to be more efficient and grow his practice.
http://bit.ly/3WJrE4O
It’s possible to embrace technology to improve upon tried and true practices when it comes to communication. Video is a great way to correspond with your clients in a unique, personalized way that requires fairly minimal effort. In this episode, Matt and Micah discuss how they’ve utilized video messaging in their firms to improve the client experience and create additional touchpoints; however, not all videos are created equal. Listen in as they share their tips to make this powerful communication tool a positive one and a way to ensure your clients are excited each time they hear from you.
https://theperfectria.com/podcast/190
What would you do if you had to come up with a way to double your productivity? What if, through your extreme accountability, you had to graduate clients? Are you and your team on the same page in regard to what is considered delivering massive value to your clients? Listen in as we recap this week’s highlights and action items.
Listen to this weeks episodes:
What If You HAD To Double Your Productivity?!? [Episode 189]
What Works Wednesday - Graduating Clients and Implementing Surge With Chris Michalman
Worlds to Conquer - Defining Value With Your Team
http://bit.ly/3j0pCPV
Does discovering that your clients have been receiving greater than usual touchpoints automatically mean that more value is being delivered? In today’s episode, Jamie will go in-depth on why you need to have clear metrics in your firm, a clear definition of what it means to deliver massive value to your clients, and filters to determine what is and isn’t value.
http://bit.ly/3ZSwBen
Sometimes, in order to make extreme changes in your practice, it takes a mastermind and extreme accountability to push you toward those changes. On this episode, Matt is joined by Chris Michalman of Integrated Financial Partners in Derry, NH, to talk about how he first implemented surge in his practice and his experience in graduating clients. Matt and Chris will share the emotional aspect that goes along with transitioning clients while knowing that it’s in their best interest, and also discuss how making these changes help you to better serve the right clients and become more valuable to them.
http://bit.ly/3ZWWPfw
We all have the same 24 hours in a day. Because of this, we also have the opportunity to reset every single day to determine how to spend those hours and choose to double productivity and crush the day. In this episode, Matt and Micah discuss their top recommendations for how you can improve your productivity. It’s easy to let small moments distract you from your work, but that time adds up and takes away from your productivity.
Listen in as they share how some small but sometimes painful changes can greatly improve your efficiency and productivity. They’ll also discuss ways to help be proactive about potential distractions to help get you back on track.
https://theperfectria.com/podcast/189
Are you having real, authentic conversations and discussions about what is working in your practice and do you have someone who will tell you when what you’re doing isn’t working? If you work in a multigenerational practice, at what point should you start looking at succession planning? Are you telling yourself that everything you do is for your family and then nothing putting them first? Listen in as we recap the highlights and action items from this week’s episodes.
Listen to this week's podcasts:
The Goal Of The Perfect RIA [Episode 188]
What Works Wednesday - Deal Structures and Trends In The M&A Market
Worlds to Conquer - Getting Uncomfortable With Your Goals
http://bit.ly/3CS2jP7
Do you say and believe that everything that you do is for your family, and then not include them in your plans or put your goals ahead of them? On today’s episode, Jamie gets into questions you need to ask yourself to fully understand whether you’re being true to yourself and putting your family first. She’ll also provide guidance on ways to involve your family in your plans, as well as why it’s important to have your family create their own goals.
http://bit.ly/3kjI0Ud
What happens when a senior advisor is looking to sell their practice to a junior advisor, but there’s a large gap between the firm’s valuation and the advisor’s income? On today’s What Works Wednesday, Matt is joined by Harris Baltch from Dynasty Financial Partners to share his recommendations for advisors who may be considering selling their practice, as well as an advisor who may be considering buying in the future. Harris will also discuss the importance of CEOs being educated and why planning early can make all the difference in a deal going forward.
http://bit.ly/3GHBj5L
Through the success of their own practices and in looking at other rockstar advisors, Matt and Micah have learned that there are similarities and a consistent formula for success. The Perfect RIA was created to share that message and encourage advisors to be authentic and transparent. On today’s episode, Matt and Micah discuss the mission of The Perfect RIA and the importance of surrounding yourself with others who aren’t just there to pat you on the back.
Listen in as they share how even through creating this weekly podcast, it forces them to be open and look at what works and doesn’t work in their own practice. They’ll also discuss why they don’t look at simple growth but instead focus on doubling and how that requires dramatic changes to your practice.
https://theperfectria.com/podcast/188
How do you determine whether your activities are propelling you forward or just playing office? What are some lessons for advisors who have recently started their own RIA? Have you taken an inventory of repeatable processes, and what plans are you taking to achieve your goals? Listen in as we recap this week’s highlights and action items.
Listen to this week's episodes:
Why Is Playing Office Such An Evil?!? [ Episode 187]
What Works Wednesday - Insight Into The First Year Of An RIA With Nick Covyeau
Worlds to Conquer - Goals And Productivity
http://bit.ly/3QdLbZz
Do processes and procedures exist in your own mind or are you taking the time to write it down so that you team knows what to do? How often do you spend time looking out the window at what others have versus looking at yourself to see how you can achieve your goals? How do you handle failures, which are inevitable in life? On today’s episode, Jamie goes through steps to increase your productivity and further help you towards reaching your goals.
http://bit.ly/3GHYwGg
When making a move to start your own RIA, what will help you determine what type of practice you want to have and who you want to work with? In today’s episode, Matt is joined by Nick Covyeau of Swell Financial to share his experience during his first year of starting his RIA. Nick will share the importance of determining and focusing on your niche, as well as how he’s focusing on client onboarding and creating meeting standards for both clients and prospects. Nick will also share how he uses video messaging to personalize the advice for his clients.
http://bit.ly/3WMOtp1
Do you think playing office means that you’re at your desk playing solitaire? We all need downtime, and we all play office, but what’s more important is whether you are performing your productive activities first, those that will move the needle, or if you’re spending your day ‘researching.’ On today’s episode, Matt and Micah discuss one of their biggest pet peeves with advisors who play office but also claim they are too busy.
Listen in as they share what to look for in your day-to-day activities that could mean you’re playing office and how to create forcing mechanisms to help you become more intentional with your time.
https://theperfectria.com/podcast/187
What end of the spectrum are you planning to be on in terms of adding value through tax planning with your clients? How do you start creating and implementing processes so you’re not constantly reinventing the wheel? How many times are you interrupted by notifications and messages? Listen in as we cover this week’s highlights and action items.
Listen to this week's episodes:
Tax Planning In 2023 [Episode 186]
What Works Wednesday - Creating Systems and Processes With Cameo Roberson
Worlds to Conquer - Goal Setting: Email And Chat
http://bit.ly/3PZQR9i
Instant messaging is an all-day meeting with random people invited and no agenda. Does this help you to be productive and meet your goals, and does this help your team do the same? In today’s episode, Jamie shares the reason for boundaries and why you need to be purposeful with your time. She’ll also share why you need to help your team members be intentional with their day and not let notifications and messages distract and interrupt their productivity.
http://bit.ly/3YTiHYR
As an advisor, you are responsible for coordinating and understanding how everything is connected between you, your clients, and the custodian. On today’s episode, Matt is joined by Cameo Roberson from Atlas Park Consulting to share why having systems and processes in place are vital to your growth. They’ll discuss how you need to know how you communicate with the custodian and why professional pushback is ok. Cameo will also provide her recommendations for steps to follow in order to create a system as well as train your team, and set them up for success.
http://bit.ly/3WRkP1y
Willpower is not enough! If you’re familiar with this statement, then what is your plan to make 2023 your best year ever? On today’s episode, Matt and Micah take a look at how you can kick off the year by adding value to your clients through tax planning. There are numerous tax planning opportunities, and while you don’t need to take on everything the first time, tax planning is becoming more predominant in the industry, and you don’t want to get left behind.
Listen in as Matt and Micah discuss the spectrum of working with your clients on tax planning and why you need to decide where you want to be. They’ll also share the conversations they’ll be having throughout the year with their clients, as well as why they feel that tax planning starts with you as the advisor.
https://theperfectria.com/podcast/186
How often do you find yourself saying that you’re at capacity and how realistic are the numbers you associate with your practice? How do you handle challenging situations as well as overcoming negativity? When you are looking at setting up your goals, how big are those goals, and are you creating a plan to achieve them? Listen in as we recap this week’s highlights and action items.
Listen to this weeks episodes:
You Are Playing Office, Here’s How To Tell [Episode 185]
What Works Wednesday - Focusing On Positivity With Rich Chen
Worlds to Conquer - Goal Setting
http://bit.ly/3jkMSI9
When looking at your next goals, do you have a plan in place and think about all the actionable steps to meet your goal, or is it just a wish? On today’s episode, Jamie will take you through a step-by-step process of figuring out what that goal should be (hint: it should scare you) and how to make it a reality.
http://bit.ly/3jqUF7m
Each one of us has challenges that we face throughout our lives, and it’s easy to get swept up in the negativity and head trash. On today’s episode, Matt is joined again by attorney Rich Chen to share his experience growing up blind and how he overcame his own challenges by focusing on positivity, surrounding himself with positive influences, and tuning out negativity. Rich will also share how there is too much fear of failure and, instead, it’s important to dream big by focusing on one step at a time.
http://bit.ly/3hM9oco
It’s easy to say and assume that you’re at capacity, because what else are you doing with all your time? But if you’re claiming that you’re researching and just too busy, then we’re here to tell you that you’ve been drinking your own Kool-Aid. On today’s episode, Matt and Micah discuss how by looking at your REAL numbers or having someone else call you out on what you claim your real numbers are, you will have the opportunity to truly discover how much office you’re really playing…and how to improve and be intentional with your time.
Listen in as they share why empowering your team with systems and rules and understanding that making everything in your office a manual process does not provide personal advice to your clients. They’ll also explain the importance of following your own advice.
https://theperfectria.com/podcast/185
When you look to your goals for the next year, are you being specific and intentional about them? As an advisor, what lessons do you focus on for the day-to-day strategies of your business, and what’s the importance of your time and value? What is important to consider when implementing a transition within your office and communicating that to your clients? Listen in as we recap this week’s highlights and action items.
This week's episodes:
Was 2022 Your Best Year Ever? [Episode 184]
What Works Wednesday - Leading Advisors With Dustin Corrente
Worlds to Conquer - Family Offices Q&A
http://bit.ly/3FqFPoI
In the fourth and final episode on family offices, Jamie wraps up by sharing questions from advisors on how to handle transitions within a multigenerational practice. Jamie will provide her experience and thoughts on who should attend client meetings, agreements on commission and revenue, how to inform clients, and whether a coach is helpful. If you missed Jamie’s prior episodes on this topic, be sure to listen to them here:
Worlds To Conquer - Family Offices
Words To Conquer - Family Offices: An Interview With Floyd Shilanski
Worlds To Conquer - Growing Up In A Family Office With Lane Wild
http://bit.ly/3FTyWh2
How do you translate lessons that you learn into day-to-day strategies? On this What Works Wednesday, Matt is joined by Dustin Corrente, the Managing Director for Prudential Advisors Mid-Atlantic Financial Group, to talk about how he utilized Matt’s book Delivering Massive Value as part of the curriculum in a team meeting and how he helps other advisors learn to run their business.
Dustin will share the importance of time management, meeting surges, and understanding your value, fees, and what he sees with advisors who are doing really well running their practices.
http://bit.ly/3HyzvhE
When you look back at this past year, are you questioning if you even did anything, or are you a victim of drinking your own kool-aid and celebrating accomplishments that may or may not have happened? On today’s episode, Matt and Micah share how tracking your successes and celebrating those wins are as important as having specific goals for the coming year.
What are you doing to make 2023 your best year ever? Listen in as Matt and Micah discuss why you need systems and processes in place as you grow and pick themes for your next year to help you focus on where you want to improve. They’ll also share how to truly hold yourself accountable and that you don’t need to wait until the new year to take action.
https://theperfectria.com/podcast/184
Is your head trash what’s stopping you from implementing surge and finding ways to deliver more value to your clients? If you’re going to implement surge, have you thought about steps to take to start or how to communicate how it’s beneficial to your clients? How does being surrounded by the knowledge of financial planning and positivity impact children? Listen in as we recap this week’s highlights and action items.
http://bit.ly/3W1jwwG
On week three of our series of working in a family firm, Jamie is joined by her son Lane Wild as he shares what it’s like to be the grandchild of the founder of a financial advisory practice and the impact it’s had on his life. Jamie and Lane will share their experience in homeschooling, their difficult discussion surrounding Lane’s choice and decision on college, as well as why it’s important to help guide others to their path in life.
http://bit.ly/3uuKsZF
Making changes within your practice can be a difficult decision to make, especially when that involves bringing in a partner or making the leap to implement surge meetings. On today’s What Works Wednesday, Matt is joined by Monica Osborne and Colleen Wallace from CorLux Financial in Eugene, Oregon, to discuss their experience in creating a partnership as well as their process of implementing surge meetings.
Monica and Colleen will share that while they are both CPAs, they felt that they could provide their clients with the highest value through financial planning. In addition, they’ll discuss how by having mutual respect for each other and a desire to serve their clients best, they have created a partnership that provides a greater service for their clients.
http://bit.ly/3gAEO5a
We all have the same 24 hours in a day, but what sets up the good from the great is how that time is used. This is where surge meetings come into play and give you a way to be hyper-intentional while delivering massive value to your clients. On today’s episode, Matt and Micah push back on some of the reasons why other advisors claim they can’t implement surge meetings and why a lot of that is just head trash.
Listen in as they talk about how there’s always room for improvement in surge meetings and processes along with the benefits of surge for you as well as for your clients, and that surge isn’t a competition; it’s about doing what works.
https://theperfectria.com/podcast/183/
If you aren’t yet implementing value adds, you’re missing an opportunity to help your clients achieve their goals. But it’s important to make sure that when you start offering value adds, or if you’re already doing so, that they provide actionable advice. Have you also considered value adds for your clients with small businesses, or how important it is to explain LLCs to help them structure their business best? Are you in favor of hiring family members, or do you feel that’s a disaster waiting to happen? Listen in as we recap this week’s highlights and action items.
http://bit.ly/3VNTSen
Hire family or don’t hire family? This might depend on who you’re asking. In the second part of this series, Jamie is joined by her father, the legendary Floyd Shilanski, to talk about the different aspects of a family firm. Jamie and Floyd will discuss how their firm, Shilanski and Associates, evolved from where Floyd and his wife Rosa started it to where it is today, as well of the realities of working in a family firm.
http://bit.ly/3VGOwBH
When discussing business structures, do your clients focus on tax impacts first, or are you helping them consider what they’re solving for? Micah is joined on this What Works Wednesday by Steven Jarvis from Retirement Tax Services to talk about planning with small businesses. They’ll discuss some of the myths surrounding LLCs and why you need to be able to explain to your clients how an LLC works.
Micah and Steven will discuss why you want to be involved before your client makes a decision on their business structure and ways that you can help your clients visually understand their business structure decision.
http://bit.ly/3OQ9FXY
Value adds aren’t a catchphrase; they’re a way to provide specific, actionable advice to clients. But as with anything you choose to implement in your office, value adds should not only be systematized, but they also need your team’s involvement. On today’s episode, Matt and Micah will talk about how while value adds take time, by producing them, you’re providing an opportunity for your clients to see the work you do for them as well as empowering them to take control of their finances.
Listen in as they discuss that value adds don’t need to fit 100% of your clients and that the most important step you take is to do them. They’ll also share what you need to take into consideration when providing value adds, such as your team’s understanding and quality control.
https://theperfectria.com/podcast/182
When the markets are down, are you discussing investments and portfolios, or are you providing clients with a simplified report so they understand that adjustments can be made and they can still feel confident in their plan? How much do you think about the words that you use and the habits in your life? If you’re working in a family firm and will be transitioning a book of business, have you thought about what plans need to be discussed and put in place? Listen in as we recap this week’s highlights and action items.
http://bit.ly/3tXcfSk
When you hear that an advisor works for their parent, does that immediately conjure an idea that the advisor doesn’t necessarily deserve to be in their role, as if something was just given to them? What if, instead, it actually meant that advisors needed to work twice as hard to prove their worth? In today’s episode, Jamie kicks off a four-part series on working in a family office and why having really good expectations, creating business plans for transitions, and always asking, ‘is this your best?’ will set you and your team up for success.
http://bit.ly/3EA4dnx
Have you thought about the impact of using the word ‘should’ and is it has a positive or negative meaning? On this What Works Wednesday, Matt is joined by competitive athlete, CrossFit, and habit coach, Lindsay Picone to discuss why it’s important to focus on the verbiage that we use every day and how little changes can make big differences.
Lindsay will share that while it’s wonderful to have big goals, breaking them down and simplifying individual items to turn into habits can further propel you in your life.
http://bit.ly/3Vq1QKY
When you meet with your clients, how much time are you spending discussing the markets and investments versus providing them with information on items that they can control and take action on? On today’s episode, Matt and Micah will share how they’ve used Buckets and Guardrails to help their clients understand their cash flow and feel confident in their financial plan.
Listen in as Matt and Micah discuss how you can determine whether what you're saying is to fill up space in the absence of value and how you can simplify your client’s reports in a way that makes sense. They’ll also share how they present reports to their clients and the importance of surrounding yourself with a network of advisors performing at the level you want to be.
https://theperfectria.com/podcast/181
When planning for value adds, do you expect everything to go off without a hitch, or are you taking the time to not only go through where a process could go wrong but learning from others' mistakes? If you’re considering bringing on a new advisor to your firm, have you thought about how you’ll make that transition a positive experience for you, the new advisor, and especially your clients? When you hire a new team member, do you have a plan in place to train them from day one and ensure they continue to grow professionally? Listen in as we recap this week’s highlights and action items.
http://bit.ly/3OgsuTO
When you bring on a new team member, do you have an expectation that they will automatically know how your office works and how to communicate with your clients - so that client feels like the only client? On today’s Worlds To Conquer, Jamie shares what steps she takes to train her team, not just when they start, but on a continual basis, so they are constantly learning. She’ll also share the importance of note-taking and how it empowers you and your team.
http://bit.ly/3AnaaCS
If you haven’t taken steps to add an advisor to your team, it may seem like a daunting task to take on. On today’s What Works Wednesday, Matthew Jarvis is joined by Cleveland advisor Matthew Daugherty from The Balanced Wealth Group to discuss how he has helped and mentored advisors within his own firm. He’ll share his experience and recommendations for making this transition and the importance of looking at why you want to consider bringing on a new advisor.
Listen in as Matthew Daugherty discusses the steps that he takes, from bringing on a new team member to the ongoing process that he takes to help his team and his clients with a transition.
https://bit.ly/3Aq5EDM
At The Perfect RIA, we’re all about the journey to Deliver Massive Value to your clients. While Surge has been catching on like wildfire, we believe the next incredible focus will be with Value Adds, which provide specific, actionable advice. But with value adds, there are items to consider so that they not only provide massive value to your clients but so that your team is empowered as well.
Matt and Micah will share the sometimes embarrassing mistakes that they’ve made while creating and sharing value adds. They’ll share not only their experiences with what went wrong and why but how they learned from these mistakes and made their processes better. Listen in as they discuss how planning, team discussions, and doing what works can make value adds a success with your clients.
https://theperfectria.com/podcast/180
Does talking to your clients about their gross numbers create clarity for them or just confuse them? What if, instead, you focused on communication with your clients and shared numbers in the simplest way possible, helping to ease their concerns about moving into retirement? What if you have a strong level of technical expertise, but your clients still don’t understand your explanations? How do your team members set priorities with their tasks when it may feel as though everything is a priority. Listen in as we recap this week’s highlights and action items.
http://bit.ly/3UMCS7N
Does your team know how to handle tasks when everything is a priority? Have you as the advisor set up rules and guidelines for how to handle those situations and what truly needs to come first? Listen in as Jamie shares her tips for helping your team understand how to organize their tasks and why you need a communication policy in place.
http://bit.ly/3Tuy1XP
Having a focus and niche in your practice, to the point where your niche immediately triggers your name with someone, is fabulous. But just because you have a specific focus, it doesn’t mean it will resonate with others. On this week’s episode, Matt is joined by Ashley Murphy, an advisor and the creator of the Global Financial Planning Institute, where he focuses on helping others who work with national and multinational clients.
Ashley will share how he created the Global Financial Planning Institute out of his desire to fill a gap in the education and community for advisors working with international clients. Matt and Ashley will also discuss how in addition to technical expertise, you need to be able to communicate effectively with your clients and how taking on clients that aren’t within your area of knowledge is not in their best interest.
https://bit.ly/3fQwkX6
When a client is getting close to retirement, how confident do they feel, and are they mentally spending money that they may not actually see? Matt and Micah discuss why it’s important to make things simple and to be clear to clients about what the numbers they see actually mean.
Listen in to learn about a value add that Micah is incredibly passionate about - The Retirement Income Timeline, and how this can provide clients with a simple guide to know where their money is coming from. The guys will also share the importance of doing a full financial plan and how doing so can uncover mistakes that clients weren’t aware of.
https://theperfectria.com/podcast/179
Have you gone through the practice analyzer to take a deep dive into your practice to see where you’re spending your time and energy? Have you thought about how simplifying terms and making finances fun can empower a younger generation? What steps are you taking to make sure your team is constantly growing? Listen in as we recap this week’s highlights and action items.
https://bit.ly/3zHt1YS
Most employees leave their current employer because they feel there isn’t any place for them to go. What if you create an environment where your employees never plateau and instead are always looking for ways to grow within your organization? Listen in as Jamie shares her tips and recommendations on ensuring your team is in a perpetual state of learning and how to create specific goals for them.
https://bit.ly/3DAS1Cb
On this What Works Wednesday, Matt is joined by CFP and author Daniele Beasley of Twenty Concierge Wealth Management. Daniele shares her background and experience that led her and her partner, Kelli, to create an adult coloring book for financial planning called Financial Wellness.
Listen in as Daniele shares how she took her past as a dancer and her love of music and combined it with her financial knowledge to create a book for young adults to help with their financial understanding. She’ll discuss how she hopes to give back to the younger generation and empower them to understand their finances.
https://bit.ly/3ft1GCU
What happens when you put Matthew Jarvis and Micah Shilanski in a room with advisors who are committed to success? Matt and Micah recap the most recent TPR live event in this episode. They share how putting together this event takes a lot of time and energy, and yes… head trash! And how they overcome this.
Listen in as the guys discuss the practice analyzer and how, by breaking down the number, you can start to truly see where your time is being spent. They’ll also discuss why you need to know which tasks are and aren’t playing office, along with why you need to take a hard look at the fee you’re charging clients and if it’s truly representative of the value you’re delivering to your clients.
https://theperfectria.com/podcast/178
Do you have your line in the sand that you know you won’t cross with your clients? What happens if they cross that line or if they don’t take your advice? Have you thought about how you need to approach your aging clients or clients with aging parents to discuss how they want to plan their future care? What about your prospects? Are you working with the right people or do you think that anyone who hires you is the right client? Listen in as we recap this week’s highlights and action items.
https://bit.ly/3TYuxO7
What is the number one rule of prospecting? If you serve everyone, then you serve no one! On today’s Worlds To Conquer, Jamie dives into prospecting and how to make sure you’re working with the right people. She’ll also discuss why once you determine who you work best with, you need to share this with your team.
Listen in as Jamie shares why if you have a great prospecting strategy, you can grow and not stay stagnant, and that it’s important to create an environment where your team can respectfully push back.
https://bit.ly/3FmTn6e
How do you talk with your aging clients about planning for future care or for a change in their health? On today’s What Works Wednesday, Matthew is joined by Lisa Mayfield, the creator of Aging Wisdom and former President of the Aging Life Care Association.
Listen in as Lisa shares her thoughts and recommendations for what advisors can do as their clients get older in life and they start needing care beyond what they can provide for themselves. Lisa and Matt will discuss how to open these conversations with your clients and how an Aging Life Care professional can be another partner in your client’s support system.
https://bit.ly/3zlb9mC
When clients aren’t the right fit, or when they aren't open to your advice, do keep them on, hoping they’ll just listen? Or, do you have a set of dealbreakers and lines that you will not cross and know that at some point, you’ll need to graduate certain clients? What do you do when a client graduates you?
Listen in as Matt and Micah discuss why you need to be clear with yourself, and your clients, on your dealbreakers. They’ll also discuss once you’ve determined that a client is no longer a good fit, how to make that transition while always erring on the side of grace. Matt and Micah will also share why you don’t have to stay in your lane to deliver massive value.
https://theperfectria.com/podcast/177
Are you guilty of spending hours in the office, just to be there? Or are you being hyper intentional about your time so you can deliver massive value and move the needle for your clients? Have you thought about the impact a coach can make in your life and why you need to look at designing your business and your life? How about head trash? You don’t have to just deal with insecurities, there is a way to handle this. Listen in as we recap a jam packed week of action items and tips.
https://bit.ly/3TD6mVa
Are you afraid that you’re going to lose all your clients and income once you implement something new? Everyone has doubts and insecurities but there are ways to work through this. Listen in as Jamie shares her advice on how to take that head trash out from masterminds to morning routines, and why it’s important to get your team involved as well.
https://bit.ly/3VIrETq
Designing your life and your business is something that everyone should focus on. However, sometimes it’s hard to find in yourself what you need to do or how you get to that next point. Matt and Micah are joined by Expert EOS Business Coach Scott Rusnak who shares how he works as a guide for entrepreneurs along their journey to help them know when to look for moments of clarity and that you need to be authentic and help others.
Listen in as the guys share what core values mean to them and how to be intentional about the people in your life. They’ll also share why having a coach and accountability is important, as well as tips for new advisors who want to level up.
https://bit.ly/3MJdmhh
A lifestyle practice is one that delivers massive value to clients and follows a surge meeting concept so that more value is being delivered in a smaller period of time. As with anything at The Perfect RIA, you need to be hyper-intentional about this, especially your time. If you’re at the office just to be there and you’re not moving the needle for your clients, or working to up your game, then you’re just playing office.
Listen in as Matt, Micah, and Orion Matthews talk about how to be intentional about prospecting and personal development and why multitasking isn’t a skill that’s allowing you to accomplish anything in a shorter amount of time.
For more resources and information:
https://theperfectria.com/podcast/176
Do you realize that you're already delegating the majority of items in your life? Have you paid attention to how you're talking to your clients by replacing the word 'marshmallow' anytime you use industry jargon, and do you create so much value that your clients are excited to talk about you to their friends? Listen in as Amber recaps this week's highlights and action items.
https://bit.ly/3yPuYSN
If you've been following Jamie through the first-year onboarding process, then you realize how much you are about to dramatically change your clients' lives. But have you thought about how that is the perfect time to also get referrals? Listen in as Jamie shares why you need to have a referral campaign and create opportunities for your clients to talk about you.
https://bit.ly/3TdMkku
Calculating Dynamic Distribution Rates is not something you can figure out with a notepad or a calculator. On today's episode, Justin Fitzpatrick from Income Labs joins Matt to talk about how through their software, they work to bring better outcomes and experiences to clients and why it's important to talk to clients in a way that they understand.
Listen in as Matt and Justin discuss that people don’t change the way they speak just because they retire and how little changes can result in a big long-term effect.
https://bit.ly/3TffOOQ
It can be hard to make the jump to start delegating, and since we need to be honest here, it doesn’t always go as planned. At first glance, delegating a task for booking travel seems simple. But what if you end up in the middle seat of the last row? On today's episode, Orion Matthews joins Matt and Micah to talk about their experiences with delegation and why you need a process and checklist to make sure tasks are done the right way.
Listen in as the guys discuss why you need to make sure to look at your process to make sure that everything is documented correctly, and that if two or more people can perform a task, then it should be delegated.
For more information and resources:
https://theperfectria.com/podcast/175/
Key takeaways from this week's episodes.
Having systems in place that deliver massive value to your new, and current clients, and creating processes where none exist can separate the best advisor from the second best. Listen in as Amber recaps this week's highlights and action items creating an onboarding process that works as well as how finding your passion and educating others can help you create a hyper specialized practice.
https://bit.ly/3Coueow
Jamie discusses the onboarding process for what happens once you get hired by a client, focusing on creating a solid foundation, what to do during that first year to deliver massive value, and how this work during surge. She also shares that you need to trust in your processes, your system, and trust in your team and why creating a financial plan is similar to building a house.
https://bit.ly/3RQnkOL
Sometimes knowing what you don’t want, and having the experience to understand that, can help you create a clear vision of what you do want. Advisors should have a niche or specialized focus with their practice, but what if you could focus on what you’re truly passionate about? In this episode, Andy Panko from Tenon Financial joins the show to share how it’s possible to do things on your own terms and grow a practice without having to focus on selling.
Listen in as Andy shares how he became an advisor that people saw as a trusted and knowledgeable expert by creating a Facebook group and focusing on sharing his knowledge and expertise. He’ll also share how tax planning has provided his clients with value and why it’s important to educate yourself and others.
https://bit.ly/3g2sjyt
Do you feel that you should create a new and unique system with each and every client and truly believe that doing so provides value? What if, instead, you created a process for your new and existing clients - from empowering your team to assist and setting standards for the ‘right’ way to answer a client call, to constantly setting expectations with your clients on what it is that you’re doing for them?
Listen in as Matthew and Micah share why having processes in place when bringing in a new client allows you and your team to truly provide the most value to your clients. They also share why you need to remember that everything you do is fresh and new to a client and how little things can add up to make a big difference.
You can find show notes and more information by clicking here:
https://theperfectria.com/podcast/174
What we expect prospects to give us prior to the initial conversation with them, how we prepare for the initial meeting, and more.
https://bit.ly/3edEwzN
If you are an investor wanting to avoid the larger wirehouses, you are probably in the market for an independent financial planner or advisor who doesn’t work at one of the larger firms. Generally, an independent planner or advisor will either be a registered investment advisor (RIA) or someone who works for an independent broker-dealer. In this episode, Matt is joined by Brad Wales, Founder of Transition to RIA, and although they are both large advocates for RIAs, they will be sharing their top reasons as to why you may want to stay with a broker-dealer.
You can find show notes and more information by clicking here: https://bit.ly/3BVcn8p
Your prospect just said 'yes'—now what? Don’t panic! Micah and Matthew have tips, strategies, and answers for you. One of the key ways that they recommend navigating a new client relationship is to lay the groundwork early and communicate the processes you have in place. Today, they share the different elements of creating and implementing a process, as well as real-life insight from how they make it work in their own practices.
You can find show notes and more information by clicking here: https://bit.ly/3SA3d8H
Beginning a month-long series all about onboarding brand new clients.
https://bit.ly/3E9Sg9k
Building a practice that can run successfully without you being there for extended periods of time can be hard work, but it is entirely worth it. Taking time off and detaching from work is important for focus and stress management, and can even be beneficial for long-term health. But do you think your practice could run without you for an entire month? Taylor Schulte, Founder of Define Financial, joins the show to share his experience with going completely offline for an entire month, including how he prepared his practice and the things he did in the lead-up.
You can find show notes and more information by clicking here: https://bit.ly/3xAqdvy
Every advisor knows that they need to be meeting with clients regularly, but most of them don’t know what to say in a client meeting. If you are still having trouble knowing what to say and how to add value to your meetings, this is the episode for you. Matthew and Micah jump in to share some of the origins of the value-add, how they struggled in client meetings at first, and what helped them find more confidence in their meeting times with clients and prospects.
You can find show notes and more information by clicking here: https://bit.ly/3LIA20m
What young advisors need to know in order to grow their practices.
https://bit.ly/3BMVMnb
Having a clear target market can earn you true validation as a financial advisor. As many successful advisors know, having a specific niche that you focus on allows you to establish a reputation within your niche and enhances your client-acquisition efforts. In this episode, Don Hilario, Founder of Hilpan Moxie Wealth Management, will be joining the show to share how he found his niche serving Big Tech, how he structures his day to maximize productivity, and his advice for any advisors searching for a way to be more intentional with their workdays.
You can find show notes and more information by clicking here: https://bit.ly/3S2Ku5h
Is it possible to delegate all initial client emails, tasks, and communications—and expect your team to run it like you would? Matthew and Micah sit down to address the difficulties in delegation and share insight into how they help their own team members run triage on client requests. If you’re hoping to carve out more time for yourself and empower your team in a way that allows your business to grow, this episode is for you.
You can find show notes and more information by clicking here: https://bit.ly/3db2Di4
The right way to terminate someone you know shouldn't be on your staff.
https://bit.ly/3f1iP6k
If you have expertise and knowledge to share beyond what you share with your clients as an advisor, writing a book has probably crossed your mind—and rightly so. A high-quality, engaging book can establish you as an industry expert and give you a chance to speak to a broader audience. However, you’re busy running a successful practice and the idea of putting in the work to create a book is probably daunting. So, where do you begin? In this episode, Josh Raab, Founder of Raab & Co, will join Matthew to discuss the process of publishing a book.
You can find show notes and more information by clicking here: https://bit.ly/3qhXQhM
There’s a classic honeymoon period where you hire someone and think they’re going to solve all your problems. But what happens when that’s over and you realize all your problems aren’t solved? Matthew and Micah sit down to tackle the problem of employing people and discuss what needs to happen in order to have an effective and harmonious team.
You can find show notes and more information by clicking here: https://bit.ly/3Bor0C4
Settling the debate over whether it's a good idea to hire family members.
https://bit.ly/3QBnZCN
Many advisors reach a point in their careers when they wonder if the firm where they’re working is the best place for them to serve their clients and find their desired work-life balance. However, actually taking the next step and exploring this next phase can feel overwhelming. Where do you even begin? In this episode, Louis Diamond, President of Diamond Consultants, will be joining Matthew to discuss how to approach this next step in your life strategically so that there are no missteps made along the way.
You can find show notes and more information by clicking here: https://bit.ly/3R5CRuv
Don’t hire your family members—just don’t do it. Matthew and Micah jump on today to discuss the dilemma of hiring family members and why it's a bad idea 99% of the time. They both share from their own experience working with family, offering examples of how it can go really wrong. If you are considering hiring family, friends, or someone you would hesitate to fire for any reason other than performance, this is the perfect episode for you.
You can find show notes and more information by clicking here: https://bit.ly/3KwrR6W
Action items for making sure your practice doesn't burn down when you're away.
https://bit.ly/3KFzIio
As an advisor, if you don’t have the behavioral part of financial planning dialed in, nothing else will matter. This aspect of financial planning comes down to good communication and a deep understanding of how your clients operate. In fact, the practices that are the most successful and have the best relationships with their clients have mastered the human side of finances. In this episode, Brendan Frazier, Founder of Wired Planning, will be joining Matthew to discuss the “softer side” of financial planning that everyone should be focusing on.
You can find show notes and more information by clicking here: https://bit.ly/3CE1k5z
If nothing gets done when you leave the office, is it because you don’t have a rockstar—or is it because you suck as a leader? In this episode, Matthew and Micah are joined by their partner and chief technology officer, Orion Matthews, who joins in on the discussion about the issues advisors face when they need to be out of office for any reason. You will get insight into what goes wrong and why having the right team leadership will be a game-changer for your business.
You can find show notes and more information by clicking here: https://bit.ly/3POK1l9
Recapping this week's episodes and action items to implement right away.
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We all have goals and desires, but which objectives are musts in your life? The pursuits we choose to invest time in are a reflection of our standards, and so are the people we surround ourselves with. When you actively choose to surround yourself with people who share your ambitions or have achieved the things you are after, it elevates your life. Aaron Walker, life and business coach, mastermind group facilitator, author, and trusted advisor, joins Matthew in this episode to share his advice for those looking to be not only successful, but also significant.
You can find show notes and more information by clicking here: https://bit.ly/3PGPXwM
If you’re new to surge or you have a client who has not yet experienced surge, how do you manage expectations? Telling a prospect that they can’t see you for 6 months could cause mutiny, so it’s important to clearly communicate your framework and what they can expect. Matthew and Micah dive into this dilemma today and share insight into how you can plan, prepare, and ultimately deliver incredible value to clients in a new-to-surge situation.
You can find show notes and more information by clicking here: https://bit.ly/3plFCLT
The CFP® designation has been the standard of excellence for financial planners for decades—and it’s easy to see why. The highest designation in financial planning, combined with the commitment to high ethical standards, sets advisors holding this designation apart from the rest. So, what comes next after you receive your CFP®? And how can we implement processes to ensure our practices run as smoothly as possible? Jeff Rattiner, President at Rattiner’s Financial Planning Fast Track, Inc., joins Micah today to share the answers to these questions and more.
You can find show notes and more information by clicking here: https://bit.ly/3QzLoFa
Is discounted service really a value? Matthew and Micah are diving into the world of discounted service vs. massive value, and the hypothetical fists are flying. Matthew put together a challenge between advisors to create a financial plan in 30 minutes on stage. Get out your gloves and listen in to hear about why he’s doing that and what we can all learn from other advisors.
You can find show notes and more information by clicking here: https://bit.ly/3w9ARZB
When starting and then running your own practice, it is essential that you seek legal advice to ensure everything is done correctly. Having an attorney you can comfortably rely on allows you successfully run your practice, whilst also ensuring it is compliant with the various legal obligations that apply. Richard Chen, a seasoned attorney, entrepreneur, and public speaker joins Matthew to share his advice for financial advisors seeking to protect themselves and their businesses.
You can find show notes and more information by clicking here: https://bit.ly/3dhrfWl
The focus this month is on surge meetings because they are such a critical part of an office. Today Matthew and Micah talk about how they do surge differently in their respective offices. This is something that many people ask about, so grab your notes and listen in to hear how and why they differ in some key surge procedures and processes.
You can find show notes and more information by clicking here: https://bit.ly/3Qbot3p
As financial advisors, we are generally not qualified to give tax or legal advice when helping our clients. However, these are both important steps in the financial planning process. So, what advice can we give without crossing any lines—while still providing the most value to our clients? Steven Jarvis, CPA, and Leila Shaver, attorney, join Micah on this episode to discuss what is okay (and what is not okay) to converse about with your clients.
You can find show notes and more information by clicking here: https://bit.ly/3oAKEDX
If you jump headfirst into the pool of surge meetings, you’re going to hit your head! This week, Matthew and Micah tackle the topic of surge meetings and share the common mistakes they see people making when doing surge. You will get some great tactics that will ensure that your surge runs smoothly and effectively in the future.
You can find show notes and more information by clicking here: https://bit.ly/3vqwfxO
How traveling and being out of the office is like cruise control on a car, dealbreakers, and more.
https://bit.ly/3OQfWRK
Entrepreneurship and building a business can be a long, hard and lonely journey. Many advisors want to learn what they need to do in order to be the best advisors for their clients, while others want to not only do good for their clients, but also make a shift in their lives and the lives of other advisors along the way. The latter is exactly what Alan Moore decided to do. Alan is the co-founder of the XY Planning Network, a support network for advisors looking to serve next generation clients. In this episode, Alan joins Matthew to share his journey, including his advice for any young financial advisors looking to get started in their careers.
You can find show notes and more information by clicking here: https://bit.ly/3vhQi1B
In this episode, Matthew and Micah touch on the importance of being able to put systems in place, delegate, and put our practices on autopilot successfully. They share specifically how key your estate planning process is and where you absolutely need to be involved as an advisor.
You can find show notes and more information by clicking here: https://bit.ly/3J6BEzO
Financial advisors spend most of their time helping their clients achieve their financial goals, but in order to ensure the long-term success of the practice, it is essential to plan for the future of the firm, as well. Although he was running a successful practice already, Joe Curry, President & Financial Planner at Matthews + Associates Ltd., recognized that there were some big shifts that needed to be made to really elevate his practice to the next level. So, in this episode, Joe shares the changes he implemented in his practice and his advice for anyone hoping to do the same.
You can find show notes and more information by clicking here: https://bit.ly/3ciTlzO
Why is it so important to be effective with your time when it comes to business practices and personal life? Often, because it allows you the time and energy to show up more fully for those that matter the most to you. In this episode, Matthew and Micah discuss the misconception of needing to prioritize your business and your clients while also prioritizing family and personal life.
You can find show notes and more information by clicking here: https://bit.ly/3chc3Yr
Running an efficient, successful and profitable practice is something most advisors aspire to do. However, making this goal a reality takes hard work, dedication and a willingness to not only learn new things, but also admit when you could improve on something. As the founder of Brandywine Oak Private Wealth, Michael Henley brings more than a dozen years of experience in providing financial advice and guidance to highly successful families. In this episode, Michael joins Matthew to share his advice on running a successful firm, including the importance of being vulnerable, honest and open to communication.
You can find show notes and more information by clicking here: https://bit.ly/3uKNGsy
Could cognitive biases be the reason that you are stuck or stagnating? In this episode, Matthew and Micah share insight on how to step back and understand what is helping, what is hurting, and how to move past a sticky area that is holding you back. This is your chance to re-evaluate that head trash and finally take it out to the dump where it belongs.
You can find show notes and more information by clicking here: https://bit.ly/3AFxOLK
As the cost of living—food, gas, taxes, and everything in between—goes up, it makes sense that advisors increase their fees, as well. However, many advisors feel hesitant to do so during a seemingly volatile time. Even so, it's important to remember that financial advisors and RIAs offer an incredibly valuable service to their clients. So, in this episode, Benjamin Brandt, CPA™ and Founder/President of Capital City Wealth Management, will be joining the show to share his recent experience with increasing his fees and advice for anyone thinking about doing the same.
You can find show notes and more information by clicking here: https://bit.ly/3IlIocS
Today the legend, Michael Kitces, joins the show to share insight and wisdom from his massive experience in the financial and business worlds. You will hear about the important time-management lessons he has learned over the years, as well as how he learned to be more intentional about his time. This is a value-packed episode that will give you all kinds of actionable ideas on how to manage your time and practice more effectively.
You can find show notes and more information by clicking here: https://bit.ly/3I8sH8D
Technology has developed significantly in the past several years, helping advisors grow their businesses, keep track of many moving parts, and—of course—provide more value. However, as technology advances, the number of issues and scammers that pop up also increases. So, in this episode, Matthew will be speaking with Dustin Frost, President of Attentus Technologies, about what you should consider when hiring an IT services company to ensure you’re protected and prepared for any problems that may pop up.
You can find show notes and more information by clicking here: https://bit.ly/3ORC4vt
The power of financial undressing and the mastermind experience is incredible and effective when advisors are looking to upgrade their practices. In this episode, Micah is joined by a mastermind attendee who has made some big goals and incredible progress. Cameron Valadez from Planable Wealth joins the show to discuss his experience increasing fees AND value.
You can find show notes and more information by clicking here: https://bit.ly/3tYYumH
How to stop yourself from overcomplicating things, especially when it comes to Roth conversions.
https://bit.ly/3QFk8Gl
Sometimes we can get caught up in our own heads in a way that keeps us from focusing enough on the end client delivery. So today, Matthew and Micah share how they have gotten caught up on their own ideas and discuss how this often happens when it comes to Roth conversions—and what to do about it. Listen in to hear how they navigate this issue, what kinds of communication methods help, and what you can do to ensure clients are better prepared to take advantage of Roth conversions.
You can find show notes and more information by clicking here: https://bit.ly/3b5ZCyp
Working fewer hours is a goal for many advisors. Working fewer hours and getting higher pay is even more sought after. However, for many advisors, this feels too far out of reach. So, how did Libby Greiwe make it happen? In this episode, Matthew and Libby disclose the processes she put in place to be able to make this incredible dream a reality.
You can find show notes and more information by clicking here: https://bit.ly/3zB5dGR
In today’s episode, Micah is joined by two rock star advisors: Bill Harris and Jim Saulnier. Both are financial planners with their own practices, and they take some time to debrief with Micah about their key takeaways from the Ed Slott conference, as well as the importance of the in-between conversations, a huge detail about HSA contributions, helpful ways to apply the information you learn, and more.
You can find show notes and more information by clicking here: https://bit.ly/3Q3KO35
What to do when your client is retiring during a downturn in the market.
https://bit.ly/3NBvedu
This episode comes on the heels of two different masterminds, so Matthew and Micah are fired up and ready to bring you their important takeaways. In this episode, they discuss some of the key things they got to focus on during the masterminds, as well as where it challenged them. You will also hear about common issues that come up for advisors and how to tackle them and move forward.
You can find show notes and more information by clicking here: https://bit.ly/3maWqDK
Today Matthew and Micah are joined by Brian Skinner to debrief after the recent mastermind and discuss important things they learned, including what worked—and what didn’t work. They also talk about the best ways to learn from the success of others in the field and where to be cautious when implementing changes.
You can find show notes and more information by clicking here: https://bit.ly/38EWJ6P
How the way you're talking could actually be working against you.
https://bit.ly/3lOdsHN
It's crucial to know when to stop talking. Today Matthew and Micah share how important it is to hear what the client has to say and why you may need to adjust how you are talking to clients about sales. They will share effective communication strategies that create better understanding and encourage better decisions on behalf of the client.
You can find show notes and more information by clicking here: https://bit.ly/3PkIp3E
The importance of clear communication with your clients, even in times of turmoil.
https://bit.ly/3LlPLk4
After wrapping up some incredible masterminds, Matthew and Micah come back today excited to talk about how to communicate with clients when their accounts go down in value. Rather than giving clients a 72-page document on probabilities of success, there are some key ways to prepare them and set expectations reasonably to make these conversations clearer.
You can find show notes and more information by clicking here: https://bit.ly/3snVcIX
One of our core tenets and values at The Perfect RIA is reality, not theory. Matthew and Micah discuss how we get from a theoretical environment to a real environment – especially when it comes to meetings with clients where we aim to deliver massive value. This episode is full of visuals on the whiteboard so be sure to check out the video version of the podcast so you can get a better understanding of the concepts.
You can find show notes and more information by clicking here: https://bit.ly/377pUP6
Action items that can directly result in you having more prospects.
https://bit.ly/3Kwv1pt
Is the prospect stream pretty low? Or, even, completely dried up? This episode is all about the common mistakes made in marketing, creating content, delivering value, and more that really affect your prospect numbers. Matthew and Micah share specifically how they ‘put in reps’ and how that, along with not playing office and other important aspects, has allowed them to develop a solid flow of prospects.
You can find show notes and more information by clicking here: https://bit.ly/3EOWOR2
As an advisor, you get the opportunity to transform someone’s life in just one hour. But the key is to make sure you're spending that hour as wisely as possible. So today, Matthew and Micah dive into what to do in prospect meetings and how to improve the value you add during those meetings.
You can find show notes and more information by clicking here: https://bit.ly/3EjVV2v
As surge and tax season wrap up, Matthew and Micah share insight on why they time surge the way they do and the importance of tax season for providing massive value to clients. Tax documents provide a lot of important and helpful information—but why is it so hard to ask for them? And why are clients uncertain about providing them? If you and your team have had trouble with getting tax returns from clients or you are wondering about the best way to navigate that process, this is the episode for you.
You can find show notes and more information by clicking here: https://bit.ly/3Kzly1o
Steven Jarvis joins this episode to share a real-life experience with tax planning.
https://bit.ly/37OwgTu
Having issues in prospect meetings? It’s incredibly avoidable. In this episode, Matthew and Micah discuss the prospecting process and how to help it go more smoothly for your prospects and for your team. They share how they get their teams prepped for surge, as well as what it takes to move through it and transition out of it smoothly.
You can find show notes and more information by clicking here: https://bit.ly/3qNZ4lB
What happens when a prospect says, “I have time tomorrow at 2 pm”? In today's episode, Matthew and Micah compare this situation to being put into a jiu-jitsu chokehold and discuss how to navigate this situation in a calm way. You will hear tips on how to lay a solid foundation for your process of success and how to explain it to your clients in a way that demonstrates its value to them.
You can find show notes and more information by clicking here: https://bit.ly/35gUBQO
How to train your team to make sure you're always on the same page.
https://bit.ly/3LxEOg9
In today’s episode, Matthew is joined by a special guest CPA to talk about tax planning mistake #5 and how you might be making your CPA’s life a living hell. Steven Jarvis is not only Matthew's brother, but also an excellent tax preparer and the founder of Retirement Tax Services. Together, they discuss the issues that hide behind not getting responses from your CPA and how you can set up a better, more mutually-beneficial relationship with them.
You can find show notes and more information by clicking here: https://bit.ly/36BhKxw
Micah and Matthew often discuss the importance of going above and beyond for your clients, ensuring that they are receiving massive value from an advisor that isn’t like anyone else. One way to do this is to learn from other advisors in the industry who are making a difference and have seen the success that you desire. So, in this episode, Matthew is joined by Reese Harper, the founder of Dentist Advisors and someone who is making a big impact in the advisory space.
You can find show notes and more information by clicking here: https://bit.ly/3i0l7AB
That’s a great idea…but I don’t have time. Someday I’ll have time. Have you caught yourself saying either of these things? If so, make sure to tune in to this episode, as Matthew and Micah dive into the issue of time and what it means to take intentional control of the time you have. You'll learn key tips that will allow you to make the best use of your working hours without getting overwhelmed.
You can find show notes and more information by clicking here: https://bit.ly/3tVN9TJ
All advisors and practice owners feel fear at some point. It’s a natural part of growing your practice. And unless you are completely certain of the value you are providing to your clients, it can be uncomfortable discussing your fees and articulating your fee structure. But if you downplay your fees or make excuses for them, you’re far more likely to be asked for a discount. So, in this episode, Micah and Matthew will be sharing how to get rid of the head trash surrounding your prices so you can finally ask for the fee you’re worth without any stress.
You can find show notes and more information by clicking here: https://bit.ly/3thyd1A
Action items to help you deliver massive value—without giving out your cell phone number.
https://bit.ly/3MoGklH
Learn why it's so important to take a client's entire situation into consideration when giving advice.
https://bit.ly/3vuEJoF
There are a lot of advisors who are using their cell phones as a way of instant communication with their clients. Is this delivering massive value—or is it actually thwarting massive value? In this episode, Matthew and Micah chat about how to delineate between the different types of communication and how you can add massive value without being on speed dial.
You can find show notes and more information by clicking here: https://bit.ly/3Ilrc6j
Action items following our special episode featuring a rare guest.
https://bit.ly/3sjyL7P
Why you need a team you can trust if you want to deliver massive value.
https://bit.ly/3t3XwnW
Providing your clients with massive value is something that is talked about often on The Perfect RIA, but it’s also important to ensure you have time for your loved ones while also showing up with the right mindset every single day. No one knows these topics more than Floyd Shilanski, the President of Shilanski & Associates, Inc. In this episode, he will be sharing his wealth of knowledge from his many years of experience in the financial planning industry, as well as the most valuable tidbits from his book, Registered Investment Advisor (RIA) From Scratch.
You can find show notes and more information by clicking here: https://bit.ly/3Bs7Qtx
How often do you use financial phrases, terminology, or jargon that mean nothing to your clients or prospects? This is something that many advisors do not focus on enough. Verbally simplifying and breaking down what you’re doing to your clients (or prospects) will allow them to recognize how much value you are adding to their life. So, today Matthew and Micah will be sharing the background story as to why they started The Perfect RIA and the reasons they came together to help you through your financial advisory journey.
You can find show notes and more information by clicking here: https://bit.ly/34w43il
Why client segmentation is generally a bad idea—and what to do instead.
https://bit.ly/3gJ4ZTD
Client segmentation is the process by which you divide your clients up based on common characteristics (such as demographics or behaviors) so that you can serve those clients more effectively. However, client segmentation doesn’t always work in the advisory industry. In fact, it highlights another issue altogether: a failure to define your niche. So, in this episode, Micah and Matthew will be sharing the problems that develop when you start segmenting clients and what you can do to provide massive value instead.
You can find show notes and more information by clicking here: https://bit.ly/3H0xqIc
There are many things that advisors subconsciously do in client meetings that make a large impact on how those meetings go. Everything from how you enunciate to how you position your body are either adding to or detracting from the client experience, which is ultimately the determining factor in whether they hire you. So, in this episode, Micah and Matthew will be discussing several things you should and shouldn’t do in client meetings.
You can find show notes and more information by clicking here: https://bit.ly/3qZ3buy
A real-life story of a massive security breach—and how it was handled.
https://bit.ly/3GNh99e
Tips for finding even greater success with your prospecting and onboarding process.
https://bit.ly/3K8ewRu
This industry is about so much more than simply offering financial help. It is about building honest connections and trust with your clients and ensuring that they always feel heard, valued, and understood. In this episode, Micah will be joined by Rod Zeeb, founder and CEO of The Heritage Institute, to discuss how to deliver massive value items, specifically several things we need to focus on as advisors to make sure we’re always exceeding expectations.
You can find show notes and more information by clicking here: https://bit.ly/3Jfl6VN
Learn what you need to be paying attention to in client meetings.
https://bit.ly/3qPNx4m
Running a successful, value-adding practice consists of a lot of moving pieces. It takes hard work, focus, and accountability. Matthew’s guest today is someone who has been contributing to this industry in a massive way for a long time now and is someone many in the financial realm look up to for advice. Michael Kitces is the Head of Planning Strategy for Buckingham Wealth Partners, as well as the co-founder of the XY Planning Network, AdvicePay, fpPathfinder, and New Planner Recruiting—just to name a few. In this episode, Michael and Matthew discuss their advice for building a sustainable and sizeable practice, including what mindset you need to have to make this model work.
You can find show notes and more information by clicking here: https://bit.ly/33Rqizc
Action items for streamlining your process and delivering the same massive value in less time.
https://bit.ly/3mNRHsr
Are you lying to yourself about where you are spending your time? Where you spend time is a key factor in the success of your business, and if you focus too much on something that isn’t productive or thought-out, it may actually end up hindering your growth and prosperity. So, in this episode, Matthew and Micah will be explaining how much time certain tasks should take so that you can increase the value you are bringing to your clients, your employees, and your practice.
You can find show notes and more information by clicking here: https://bit.ly/33ya9hP
Learn about the catch-22 that had Matt stuck in the early years of his career and how he overcame it.
https://bit.ly/3sdjMga
How many clients are too many clients? This is something that varies greatly from person to person. However, if you are telling yourself that you are at capacity and that there is no possible way you could take on more clients, then you’re never going to grow your business. So, in this episode, Micah and Matthew will be sharing how to clear out that head trash so you can reach your full potential within the industry.
You can find show notes and more information by clicking here: https://bit.ly/31Qeoo6
What you need to know about communicating with clients regarding asset transfers.
https://bit.ly/3GqpCyJ
Everyone stands to gain from engaging in some type of reflection. Although Matthew and Micah strive to run the perfect practices, there is always room for learning opportunities to ensure they have the best processes available in place. So, in this episode, they will be discussing the importance of owning up to and learning from your mistakes, as well as a recent issue Matthew faced with a fee increase - and how he resolved it.
You can find show notes and more information by clicking here: https://bit.ly/3xn6TAY
Four action items to get you on the right track with personal development.
https://bit.ly/3ElVZOr
How to make sure you're giving it your all in every meeting—even during surge.
https://bit.ly/3Ed9fVj
Matthew and Micah have spoken in depth about surrounding yourself with and learning from people who are at a point in their career that you want to get to, and signing up for a coaching program can be an essential step in this process. However, with so many coaching programs available, how can you be sure you’re choosing one that is right for your needs? In this episode, the guys will be sharing their best advice for choosing the right training for you.
You can find show notes and more information by clicking here: https://bit.ly/3oHlrHH
Breaking down why you shouldn't follow the classic (bad) advice about elevator pitches.
https://bit.ly/3oYjzKq
How to balance delegating tasks with doing the work that YOU need to be doing.
https://bit.ly/3C3WJ8W
If you’re like most financial advisors, you want to add value, do good work for your clients, and live a good life in the process. Unfortunately, having meetings scattered throughout your week makes it hard to get ahead of your other work. So if you’ve heard of surge meetings but don’t think this approach will work for you, make sure to tune in to this episode because Matthew and Micah will be discussing how to get over that way of thinking so you can implement this practice and create more time in your life for the things you actually want.
You can find show notes and more information by clicking here: https://bit.ly/3EhLWcO
When growing a practice, it is essential that you are consuming new information and staying on top of improved technologies or implementations as they become available. However, this does not mean simply watching the news as it relates to your industry. This means consuming books, media, or other information that is going to help you deliver massive value to your clients. So, in this episode, Matthew and Micah will be discussing the importance of a Personal Development Budget and how to incorporate more impactful information consumption into your workweek.
You can find show notes and more information by clicking here: https://bit.ly/3beKU4A
Three action items to help ensure you only serve your ideal clients.
https://bit.ly/3vUxMLG
Important considerations for keeping your team at the top of their game.
https://bit.ly/2ZsUfDi
The decision to graduate a client can be incredibly hard. You may have worked with them for many years, or you may know them outside of your practice. However, if your client is not fitting your processes and you find yourself consistently making exceptions for them, it may be time to let them go. So, in this episode, Micah and Matthew will be explaining how you can respectfully graduate, upgrade, or transfer a client in order to ensure your needs—and those of your clients—are met.
You can find show notes and more information by clicking here: https://bit.ly/3aEmWje
What you can do today to put yourself in a better position in regards to tax planning.
https://bit.ly/3j6iONy
How to stick to your guns when it comes to charging what you're worth.
https://bit.ly/3BGGwqH
Most advisors are unable to get something that even resembles a referral from other CPAs. But why is that a challenge for so many advisors—and is there a change that can be made to your marketing efforts to potentially receive more referrals? Here to help break down this topic from the perspective of a CPA is Matthew's brother, Steven Jarvis, co-founder, CEO, and head CPA for Retirement Tax Services.
You can find show notes and more information by clicking here: https://bit.ly/3AzpWaU
You can only grow if you are willing to experience discomfort while trying something new. In other words, growth and discomfort go hand-in-hand. So, if you’re going to double your success rate in effectiveness, the value you provide, or the amount of profit you are bringing in, you’re going to have to dramatically shift the way you are currently running your business. This may leave you feeling a little uncertain or uneasy, but today Matthew and Micah will be discussing the benefit of putting yourself in this situation and the steps you can take right now to do so.
You can find show notes and more information by clicking here: https://bit.ly/2YsWAhp
How are you defining the success that you want to match or surpass? So many advisors have a dream of reaching a specific level in their career, but they never pinpoint the steps they need to take to get there. Without defining goals, planning accurately, cultivating motivation, and reflecting often, you will be on a constant uphill battle with no endpoint in sight. So, in this episode, Matthew will share how to double your success in the four areas of practice success.
You can find show notes and more information by clicking here: https://bit.ly/3ApBrm9
Action items for the upcoming week to help your practice succeed.
https://bit.ly/3tNdjHu
None of us are exempt from looking around and finding the nearest scapegoat from time to time. It’s easy, it preserves our ego, and it gives us a reason for why we can’t implement the process we know we should. But in this episode, Matthew and Micah will be discussing the importance of taking ownership of your practice so you can finally implement the necessary processes that will help to provide massive value to your clients.
You can find show notes and more information by clicking here: https://bit.ly/3haQqZu
Action items for quadrupling your income and the time you spend out of your office.
https://bit.ly/3hlNTvK
Learn about one of Matt's favorite resources for advising advice.
https://bit.ly/3yPt5ml
Financial advisors generally meet with clients year-round, resulting in wasted time not only preparing for the meetings, but also in the meetings themselves. However, there is an alternative: surge meetings. By adding a surge to your calendar, you have the ability to boost productivity, systematize the client review meeting while still providing massive value to your clients, and free up time to do more of what you love. Here to help Matthew and Micah dive into this topic further is Ben Brandt, the host of Retirement Starts Today Radio, co-host of the Retirement Tax Podcast, and founder of Capital City Wealth Management.
You can find show notes and more information by clicking here: https://bit.ly/3ztgXZf
Learn why it's important to learn from people who have actually done what you want to do.
https://bit.ly/3tcuimp
The amount of trust your clients put in you is a big deal. Just as you wouldn’t seek medical advice from someone who isn’t a certified doctor, others will not want to seek financial advice from someone who isn’t trained and experienced. So in this episode, Micah and Matthew will be sharing how you can level up in your profession and create the most efficient processes for your team.
You can find show notes and more information by clicking here: https://bit.ly/2Wqc194
Learn how business tips from a barber apply to all entrepreneurs.
https://bit.ly/3Bxixdp
How to communicate with clients about the value of following a process of success.
https://bit.ly/3gkpAhd
When you have too much going on to do what it takes to be the best.
https://bit.ly/3fRSmFz
Hard work and persistence are incredibly important, but not as important as having that underlying belief that you are in control of your own destiny. So when you’re delivering massive value to your clients, what mindset do you have? In this episode, Micah and Matthew will be discussing the importance of believing that you truly are the best in the business - because if you don’t believe it, nobody else will either.
You can find show notes and more information by clicking here: https://bit.ly/3xAE6XV
Getting over the head trash that comes with "graduating" clients.
https://bit.ly/3lSXP32
Learn what experience you can give your employees to empower them.
https://bit.ly/3yEkkfu
When you are seeing the same problems in your business consistently show up, chances are there are some foundational issues that need to be looked at. Without following or creating standard processes and strategies for your team to follow, you run the risk of misdiagnosing the failures in your RIA—and creating more problems for everyone involved. So, in this episode, Matthew and Micah will be discussing the importance of evaluating the exceptions you are making in your firm so that you can avoid wasting your time, money, and resources.
You can find show notes and more information by clicking here: https://bit.ly/3rSzGua
What you can do today to move the needle forward in your business.
https://bit.ly/3xojEJN
You know that your prospecting is not as strong as it should be or your profitability is a little low, but what do you do with that information? Today Micah and Matthew will be discussing why knowing the issues in your practice isn't enough and how to move the needle forward in your business by evaluating what works.
You can find show notes and more information by clicking here: https://bit.ly/37eYOSh
Learn the problem with not following the systems that have been put in place.
https://bit.ly/3y5TT1T
Action items for how to delegate email and reclaim your freedom.
https://bit.ly/3wNVnwo
There is an enormous amount of societal pressure to be available to answer emails every second of every day. However, for most busy entrepreneurs or firm owners, that amount of time spent on emails is simply not possible. So, in this episode, Matt and Micah will be discussing how to create communication standards with your clients in order to create boundaries and set expectations for you and your team.
You can find show notes and more information by clicking here: https://bit.ly/3xJugEb
There have been many studies done over the years showcasing what the industry standards are and where you should be in your practice. However, how are you supposed to know which benchmarks to follow for your specific business? In this episode, Micah and Matthew disclose their thoughts around industry studies, sharing the four TPR Power Factors and how you can implement them into your RIA today.
You can find show notes and more information by clicking here: https://bit.ly/3dYE4lI
Learn what really puts top performers across industries ahead of everyone else.
https://bit.ly/36qoCuh
The second half of the year won’t be any better than the first half of the year if you’re doing the same thing. That's why Matt and Micah always make sure to do a mid-year review in order to check in with how things are going and fix anything that might need to be improved before the year is over. In this episode, they share best practices when reviewing mid-year, what to look into most, and how to move forward with energy and focus into the second part of the year.
You can find show notes and more information by clicking here: https://bit.ly/3gGatPG
How to respond when clients ask questions and you don't know the answer.
https://bit.ly/3xM36My
Learn what to consider when looking at opportunities and making decisions.
https://bit.ly/3gMZEdq
Giving a back-of-the-napkin answer when a client throws out a question you’re unsure about can be a dangerous game to play. In this episode, Matt and Micah share how they tackle questions they’re not 100% sure about and offer some great insight into how you can maintain credibility—even when you’re unsure—so your answers don't backfire on you.
You can find show notes and more information by clicking here: https://bit.ly/3iHm02O
Figuring out your success formula for articulating your value to prospective clients.
https://bit.ly/3cRmQWP
How to deliver massive value to a client whose identity has been stolen.
https://bit.ly/2TCGz5G
Matthew and Micah have each met with prospects and brought them on board in 2021 by delivering massive value. How? This episode will answer that question and cover the lessons they learned along the way, including the specific golden nuggets of truth and information that all top advisors use to find success.
You can find show notes and more information by clicking here: https://bit.ly/3g9ik6S
Learn about the importance of only taking advice from people who have "skin in the game."
https://bit.ly/2S7skoJ
Is it possible to get to a place where you no longer need to deal with head trash and self-doubt? In this episode, Matthew and Micah tackle the subject of head trash and the importance of doing things you absolutely love. You will hear them discuss their own head trash, why it’s something that persists, and what’s necessary to not let it get in the way of success.
You can find show notes and more information by clicking here: https://bit.ly/3umSRw5
Learn why every little thing can help - or hurt - your business.
https://bit.ly/3hGT6zn
Learn about the importance of having fun and leaving time for your family.
https://bit.ly/3uKChaa
How to ensure your clients are aware of the work that you do and the value that you provide.
https://bit.ly/3nYJS2z
When you do a surge schedule, it’s such an intense time and then you have so much time after – what do you do? Matt and Micah share why they choose to schedule trips right after surge and why those trips are key to helping make an important transition and provide structure. From celebrating with your team to heading into project mode, finding inspiration and taking time with family, the guys have a ton of great advice and insight for you.
You can find show notes and more information by clicking here: https://bit.ly/3nQtW25
Learn why advisors fail and the importance of following a success process.
https://bit.ly/33BktTd
Learn why tax planning is so difficult and how to show your level of expertise in this field.
https://bit.ly/3xMegBC
In this episode, Matt and Micah will reveal the one thing you really need to do in order to not fail as an advisor. It may sound oversimplified, but they stand by the importance of following a successful process and the four rules of success that you have to follow if you want to be a rockstar advisor.
You can find show notes and more information by clicking here: https://bit.ly/3nC7xWk
Learn how to improve your office experience so that your clients are even more comfortable to work with you.
https://bit.ly/3ua0Qgm
When you are talking to prospective clients, everything counts. Whether it’s phone calls, meetings or yes, even emails, you have a chance to show how much value you can bring to their lives. In this episode, Matthew and Micah explain the importance of having one main focus for every point of communication and why there is always room for improvement.
You can find show notes and more information by clicking here: https://bit.ly/3dUOrpS
Matt shares how to avoid procrastination and the importance of working towards your goals.
https://bit.ly/2QwYfyF
Learn how to avoid making mistakes that will ruin your chances with a prospective client.
https://bit.ly/32tmAYE
Have you ever asked yourself why it’s so hard to find good advisor talent? Yosef Colish is the Founder and Managing Director of Leah Yosef International, a leader in the Wealth and Investment Management Division. With over 15 years of experience, he specializes in attracting and retaining the top-performing talent in the industry for single-family and multi-family offices and RIAs.
You can find show notes and more information by clicking here: https://bit.ly/3sS4Ph9
Matt shares important takeaways from a book he wishes he'd read early in his career.
https://bit.ly/2QhjdB4
Any time there needs to be some sort of communication with another firm and there is a rollover or a transfer in process, it is important to take into consideration the various ways you can approach this, including the “right” and “wrong” ways. So today Matthew and Micah will be going over this topic and diving deep into the importance of remaining credible, accountable, and valuable during a rollover.
You can find show notes and more information by clicking here: https://bit.ly/3rdkQfK
Learn why you must communicate your allocation strategy to your clients.
https://bit.ly/39AU8bb
When it comes to the length of a financial plan and what documents you should use within that plan, there are a lot of varying opinions. Today Matt and Micah will be discussing these opinions and sharing how they ensure their financial plans for their clients are efficient and easy to understand.
You can find show notes and more information by clicking here: https://bit.ly/30ZzUDi
Learn key takeaways from one of the most powerful books Matt has read in the last five years.
https://bit.ly/3cmr2y3
Hear about an important lesson Micah learned when meeting with a client's daughter.
https://bit.ly/2Q9l5M7
Learn how to handle having employees who aren't a good fit for your company.
http://bit.ly/3rMNTIu
It’s easy to get caught up in playing office and feeling guilty for having more in-office time, but how much time should things actually take? In this episode, Matt and Micah share how they set up task time frames for themselves and their teams. They also explain the importance of providing tax planning services to your clients and why it shouldn’t be overlooked.
You can find show notes and more information by clicking here: https://bit.ly/3qixBpc
Learn why it's not always a good idea to bring on clients' family members.
https://bit.ly/3qkZDjG
When you hear of another financial advisor charging high fees, do you attack them—or do you try to figure out what they're doing right and how you can reach that same level of success? In this episode, Matt and Micah discuss how to take extreme ownership of situations so that instead of feeling angry or belittled, you feel empowered to learn from the people around you.
You can find show notes and more information by clicking here: https://bit.ly/37KM3jg
If you’re dealing with the head trash around delivering something truly valuable for clients, or you’re concerned about whether you’re doing what you need to do quarterly to make a difference, this episode is for you. Today Matt and Micah are talking about client meetings, how to ensure you are delivering massive value, and so much more.
You can find show notes and more information by clicking here: https://bit.ly/3puJh7G
Get over your head trash and figure out what value you provide doing financial planning.
https://bit.ly/2ZAK1xw
Listen: Most of us will never—ever—win the fee game against the large national firms—not when they have the economies of scale to have the lowest fees. So stop playing that game. Instead, play the value game.
You can find show notes and more information by clicking here: https://bit.ly/3pQmDri
How to handle when a client asks for a second opinion on your work.
https://bit.ly/370Ozl2
Time is money, and if you’re taking more than 15 hours to create a financial plan, you’re doing it wrong. Stop looking at Parkinson’s Law with a glass half empty perspective, and instead take the principle and apply it to your advantage. Listen in as Matt and Micah break down what their financial planning process looks like, including how much time they're spending on each area.
You can find show notes and more information by clicking here: https://bit.ly/3c9ADsl
There’s a question Matt and Micah get more often than you might think: What do you do if you don’t want a lifestyle practice? Today the guys are answering this question and diving into why it’s not so much about creating a lifestyle practice as it is about creating an intentional practice that works for your life.
You can find show notes and more information by clicking here: https://bit.ly/390BnhD
Questions to ask and things to look out for when interviewing attorneys.
https://bit.ly/38JhJGx
We might be jaded, but those referral success stories you hear from advisors? Well, they’re probably a bunch of B.S. In fact, if you are relying solely on referrals for your advisory, you likely have a crappy marketing plan to begin with. This is one of those topics that Matt and Micah are one part excited, one part annoyed by because there are literally dozens of books and thousands of articles on how to get referrals, but very few of them are written by advisors. So in this episode, the guys are breaking down how to make the referral process feel less sleazy and more authentic.
You can find show notes and more information by clicking here: https://bit.ly/35izvya
At some point, all advisors struggle with how much to charge. Matt and Micah share how they navigated their fee-setting struggles and discuss why it is such a big hang-up for so many advisors. They also outline the key elements to deciding on the right fee structure and choosing pricing that reflects the value that you deliver.
You can find show notes and more information by clicking here: https://bit.ly/38IEk50
“Should I leave my broker dealer this year?” is a question Matthew and Micah get rather frequently, so in this episode, you can expect a full answer to that. They discuss the experiences they have had with broker dealers, comparing the good and bad aspects of them, as well as the right way to go about leaving one if you chose to do so.
You can find show notes and more information by clicking here: https://bit.ly/2IXAjAE
Being able to deliver a ton of value in the first few meetings with a potential client is crucial for finding success, but it’s also about the way you deliver it. In this episode, Matt sits down to chat with Sten Morgan, a fellow financial advisor who has developed a method for rapid success. You will hear Sten's best tips and insight on delivering massive value and triggering massive growth.
You can find show notes and more information by clicking here: https://bit.ly/3fRGKkT
Getting away from the head trash and going into client meetings in the right mindset is so important. So today Matt and Micah discuss some really incredible insight found in recent content on the Kitces website. They talk about how you could be doing a massive disservice to your clients if you’re going into meetings with a certain mindset—and how to avoid this.
You can find show notes and more information by clicking here: https://bit.ly/32Sm4Ed
While we, like many financial advisors, take pride in doing 30-40 surge meetings in a week, John Lee Dumas does 20 podcast interviews in one day. And that’s not the only thing he does exceptionally well—John has crushed podcasting as the founder and host of the award-winning and hugely successful podcast, Entrepreneurs on Fire.
You can find show notes and more information by clicking here: https://bit.ly/36hNrbu
What are the best prospecting practices—especially when it comes to your website? This is one of the most common questions Matt and Micah get, and today they'll be addressing this, as well as other concerns advisors are dealing with. Listen in as they share tips for more productive prospecting, how to deliver massive value through communication, and how to cut away the unnecessary time-wasters.
You can find show notes and more information by clicking here: https://bit.ly/3oOcJGK
Creating a mastermind not only helps you grow professionally, but personally as well. So in this episode, Matt and Micah will be sharing the details of how you can start your own mastermind group. They discuss how they have built masterminds themselves, as well as the important lessons and hurdles they’ve encountered along the way.
You can find show notes and more information by clicking here: https://bit.ly/3oz9mmK
What do you do if a client puts almost their entire net worth in one stock? Today Matt and Micah answer a question from an advisor who is dealing with this very situation. Listen in as the guys discuss the importance of how you set expectations with your clients and what you need to do in order to navigate more complex situations.
You can find show notes and more information by clicking here: https://bit.ly/2HdsjdN
Sometimes we get wrapped up in wanting to compromise, wanting to negotiate, and wanting to make deals in order to help clients—but what you’re really doing is compromising your values. So today, Matt and Micah are discussing why you cannot get caught up in compromising certain things that are actually bringing value to your clients. You will hear them discuss the importance of managing all assets together, as well as how to navigate these tricky conversations with your clients.
You can find show notes and more information by clicking here: https://bit.ly/3ilaPJb
Matthew and Micah are off duty today, and Taylor Schulte is taking over the podcast! After starting his career as a financial advisor at just 22 years old, Taylor now owns his own practice, and he's here to share how he turned his business around through creating processes, hiring a team, and implementing surge meetings.
You can find show notes and more information by clicking here: https://bit.ly/32TMmWI
Very often, it takes failure to learn the necessary lessons—and multiple no's to reach the right yes. Micah and Matthew have both gone through their fair share of failures before achieving success, and in this episode, they are going to outline the key to succeeding in something new and share why it's so important to keep moving forward despite what may seem like a failure.
You can find show notes and more information by clicking here: https://bit.ly/3iu9osD
After sending Nick Murray his business plan to look over back in 2009/2010, Matthew Jarvis was told it was so terrible that he shouldn’t waste his time. So in this episode, the guys will be unpacking how this impacted Matt and his future, as well as what you can do to actually improve your practice rather than just play office.
You can find show notes and more information by clicking here: https://bit.ly/2EFN9kQ
What is an absurd advisor fee? After seeing someone on social media critiquing what they consider to be an absurd advisor fee, Matthew and Micah decided to sit down and discuss this exact issue. You or other advisors around you may have a specific number in mind when thinking of what is appropriate to charge for your services, but in this episode, you will hear why it’s not about the price—and what you should be focusing on instead.
You can find show notes and more information by clicking here: https://bit.ly/3lhDCRM
We often end up with an emotional connection to our clients, which can make it challenging to part ways with them—even if it's for the best. So today Matt and Micah are discussing how and when to "fire" a client. They'll cover everything from the reasons why advisors struggle to give up clients to various techniques for making a clean cut.
You can find show notes and more information by clicking here: https://bit.ly/3kLeqTk
One of the key components to success in any professional endeavor is setting—and then delivering on—expectations. Far too often, we fall short due to unclear or unrealistic predictions being made by our prospects. So today Matt and Micah are sharing their tips for managing expectations so that when your prospect walks in the meeting room, they know the massive value they are about to receive.
You can find show notes and more information by clicking here: https://bit.ly/33b52lD
Why is the perfect RIA so perfect? Today Matt and Micah will be working on the mindset side of things and sharing how important it is to have your priorities firmly in place in order to succeed. By intentionally using your focus and your energy in certain ways, you will be able to set the bar higher and deliver that massive value to your clients.
You can find show notes and more information by clicking here: https://bit.ly/3jCPcWG
Making mistakes is never fun, but unless you can actually walk on water (without it being frozen) you’ve probably made your fair share. And the truth is, how you handle your mistakes says a lot more about you as a person and a professional than your mistakes do. So in this episode, Matt and Micah discuss how to embrace your mistakes—and become better because of them.
You can find show notes and more information by clicking here: https://bit.ly/30AAIOd
What came first: surge meetings or delegation? There’s no doubt that surge meetings are at the core of the perfect RIA, but have you ever asked yourself how you could successfully have surge meetings without delegation? Today Matt and Micah are breaking down some of the most common misconceptions about delegation, as well as the top five mistakes advisors make in this area.
You can find show notes and more information by clicking here: https://bit.ly/32ealjA
In a recent conversation, it came up that a lifestyle practice is considered synonymous with being a lazy practice. Although it's easy to get defensive, a better idea is to sit down and chat about the difference between what Micah and Matthew consider a lifestyle practice and this other kind of practice that actually is a lazy practice. It’s an important thing to think about so we can make sure we are evaluating our practices and goals fairly.
You can find show notes and more information by clicking here: https://bit.ly/2VIMUuR
Too many advisors actually underutilize the tax planning services in their practice. So today, Matt and Micah will show you how they go through tax returns for their clients and explain why it is so important to be able to articulate taxes to your clients in a way that they understand.
You can find show notes and more information by clicking here: https://bit.ly/3gha2IL
Do you want to be a hero to your clients? If you answered yes to that question, then ask to see their tax returns. One of the biggest expenses in retirement is taxes—and paying more than your fair share does not make you more patriotic. So today Matt and Micah are delving into taxes and breaking down how you can use tax returns to deliver massive value to your clients.
You can find show notes and more information by clicking here: https://bit.ly/2Y6hgrj
We've all heard the phrase “dressing for success,” but do you really believe that how you dress matters? If your answer is no—or if you’re on the fence—then you need to listen to this episode and find out why the way you dress can have a huge effect on your success.
You can find show notes and more information by clicking here: https://bit.ly/2M9dVSZ
Hearing rejection time and time again can be a soul-crushing experience. In today’s episode, business coach John Barron stops by to share his approach to the sales process that will have you never again questioning whether you’re likable or trustworthy—and have you closing more sales.
You can find show notes and more information by clicking here: https://bit.ly/2ZqIEmq
When you look at successful people, do you feel malice or anger toward them? Or do you ask yourself what did they do to get themselves to that place? Today Micah and Matthew are discussing jealousy and how to overcome this mental block so that you can achieve the success you deserve.
You can find show notes and more information by clicking here: https://bit.ly/2T6JhNN
Is now an advisable time to start surge meetings in the midst of all this COVID-19 craziness? Micah and Matthew recently received this question from a Backstage Pass member, and today they explain their reasoning behind their response to this query, as well as why there is always a good reason to switch to surge.
You can find show notes and more information by clicking here: https://bit.ly/2SSx0wx
Today's topic is one that can be a bit of a hot button, but it's something that needs to be discussed: long-term care. In this episode, Matthew and Micah sit down to chat about how you can really help your clients when it comes to making the right long-term care decisions well before it becomes necessary, as well as how to mitigate the risks of retirement and guide clients through the maze of long-term care planning and insurance.
You can find show notes and more information by clicking here: https://bit.ly/2SrtRTW
There’s a lot of misinformation and confusion circulating right now, and Matthew and Micah are here to set the record straight. They are pretty fired up about this thing called fee compression and how giving valuable advice seems to have gone out the window, so today they're talking about why many people are focusing on the wrong issues and what to focus on instead.
You can find show notes and more information by clicking here: https://bit.ly/2Kz56AT
Sitting down with a potential client who is reluctant or doesn’t see your value from the start is something that can mess with you if you don’t have a plan. So today Matt and Micah will be answering a question they got on this subject and breaking down how to address a situation like this, including how to demonstrate value and ask the right questions.
You can find show notes and more information by clicking here: https://bit.ly/2VypE1J
Today Matt and Micah are addressing a topic they receive lots of questions about: income buckets. In light of the current bear market, the guys will share how best to communicate with your clients about their “war chests” throughout the good times and even now, during the current crisis.
You can find show notes and more information by clicking here: https://bit.ly/2UUeNAb
Benjamin Brandt is the founder and president of Capital City Wealth Management, as well as the host of Retirement Starts Today Radio. Through his podcast, Benjamin inspires people to be financially independent and properly prepared to retire. Today he joins this podcast to discuss his background and how he started his incredibly successful show.
You can find show notes and more information by clicking here: https://bit.ly/2W9B26f
This is a special episode because Coach Joe Lukacs joins the show to discuss how to make sure you’re in a good headspace that will allow you to effectively help your family, business, and clients through difficult times. Whether you’re an advisor who has been through a recession before or this is your first rodeo, you'll gain some great insights and tips on how to handle unexpected challenges.
You can find show notes and more information by clicking here: https://bit.ly/33NSDT0
Having just returned from their mastermind ski trip, Matt and Micah have a ton of inspiration and lessons to share that came out of that experience. For a few years now, they have been hosting a mastermind session with a core group to break through mental barriers and create extreme accountability. There was so much value they were able to bring out of the experience that they’re bringing it to the podcast for you to benefit from as well.
You can find show notes and more information by clicking here: https://bit.ly/2TwJ99V
When panic starts rolling through, clients become uneasy and more likely to question your plans. So how do we settle their uneasiness and make them feel comfortable with the plans we have set in place for their financial goals? Today Micah and Matthew are talking about global pandemics and sharing tips on how to properly address panic with your clients.
You can find show notes and more information by clicking here: https://bit.ly/2VUtUud
Matthew and Micah are big proponents of working with coaches and calling in reinforcements who can truly add value to your work and business. Colleen from Q2 consulting is taking the place of Micah this episode because she has some really helpful insight on building great teams. Matthew and Colleen discuss how business owners should work and particularly how to work with your team.
You can find show notes and more information by clicking here: https://bit.ly/32mBezX
Following on the heels of the last episode where Matt and Micah started talking about the prospect meeting and how the lead-up should be handled, today's episode will be continuing where they left off. The guys will discuss what should be happening in that first meeting and what to do after you have vetted a potential client enough to know they are a solid prospect.
You can find show notes and more information by clicking here: https://bit.ly/2SFIsvR
Finding the right clients and making sure they are the right fit for your business can be a confusing process. So in this episode, Matt and Micah talk about ways you can set yourself up to receive only the people you can truly serve well. You will also find out what they do personally to vet clients and get through the first prospect meeting with clarity and purpose.
You can find show notes and more information by clicking here: https://bit.ly/37lVrqu
Rentals can easily go wrong, and the data you get from other renters and realtors is often questionable. But today, Matt and Micah will share a simple solution that helps everyone make the best, informed decision on whether or not to go forward with the property rental, and they'll shed light on what you need to know about the Secure Act.
You can find show notes and more information by clicking here: https://bit.ly/2GVl72k
Many advisors see one thing in particular as more of a nuisance than an opportunity to add value. What thing is that? Required minimum distributions, or RMDs. But the truth is that RMDs are often an overlooked opportunity, and today Matt and Micah will explain why this is one of those little areas where you can potentially deliver massive value.
You can find show notes and more information by clicking here: https://bit.ly/2tSqkoO
Advisors get stuck on great ideas all the time. What’s so bad about great ideas? Today Matt and Micah are going to share why these so-called "million dollar" ideas are worthless and how to dial into what really matters: implementation.
You can find show notes and more information by clicking here: https://bit.ly/375KFFn
Coming off of 2019, when the market has had another phenomenal year, Micah and Matt want to discuss a topic they have not covered much before: investments and “outperforming” the markets. They'll share how you can be prepared for conversations about investments and how to handle it when clients have doubts.
You can find show notes and more information by clicking here: https://bit.ly/2FFfUeD
When you are out of the office and you want to unplug, how do you handle distributions? This question comes from a loyal listener and member of the TPR nation, and today Matt and Micah will be sharing the answer.
You can find show notes and more information by clicking here: https://bit.ly/2FlZZBN
As we head into 2020, it is important to set goals and challenges for the year ahead. So in this episode, Matt and Micah are going to be setting a challenge for you and explaining what it takes to make it happen.
You can find show notes and more information by clicking here: http://bit.ly/2MJNnbo
Being an RIA owner is not just about numbers—it also has a lot to do with emotions and helping your clients make huge transitions in their lives. So how do you make that deeper connection and help your clients achieve their goals? Matt and Micah break it down in today's episode.
You can find show notes and more information by clicking here: https://bit.ly/2rfx6Un
Many business owners seem to be overwhelmed when trying to choose which program they should be doing or which coach they should be using. So in this episode, Micah and Matt are going to be sharing their opinions on this subject and describing the things you need to be looking at to find the perfect program for you and your firm.
You can find show notes and more information by clicking here: http://bit.ly/2qQtRCD
The challenge of managing distractions is something that every office and every worker deals with. In fact, on average, workers spend just 2 hours and 48 minutes per day on productive tasks. So today, Matt and Micah will be working through common distractions and ways to handle them to help you ensure you're making the most of your day.
You can find show notes and more information by clicking here: https://bit.ly/2qop8aS
As 2020 approaches, it’s important to start putting systems in place to ensure a successful year ahead. So in this episode, Matt and Micah sit down to discuss how to be winners with systems—not losers with goals. As provocative as that may sound, it is the mindset you need to adopt in order to succeed.
You can find show notes and more information by clicking here: https://bit.ly/366w7on
As the new year approaches, it’s easy to leave a lot of valuable lessons on the table by not taking a close look at 2019. So today, Matt and Micah will be discussing the importance of evaluating your past year in order to find out what worked well and what didn’t. In short, they're sharing how to evaluate properly by making sure you measure the right stuff.
You can find show notes and more information by clicking here: https://bit.ly/2QOuas5
Today on the show, Matt is joined by a very special guest, executive coach Adam Silberstein. Adam helps CEOs around the country (including Matt, himself!) to find the perfect work-life balance so they can leave work with more energy than when they arrived, and he's here to break down how you can do the same.
You can find show notes and more information by clicking here: http://bit.ly/2O41pWB
Often we are told to work on our businesses, but what does that entail? And what is the difference between working on your business and working in your business? Today Matt and Micah will explain the distinction between the two, as well as what it means to be “playing office.”
You can find show notes and more information by clicking here: https://bit.ly/2rjviZZ
A lot of advisors see investments as a sore spot in their practices, but it doesn't have to be that way. Today Micah and Matt are going to talk about how to use investments to deliver massive value to your clients and how to ensure your clients feel confident as you help them achieve their goals.
You can find show notes and more information by clicking here: https://bit.ly/2p7578m
All entrepreneurs make mistakes sometimes, so today Micah and Matt are discussing what to do if you make an error in your practice. They will share examples of what they have done when they’ve made mistakes in the past, as well as the benefits of taking extreme ownership in those situations.
You can find show notes and more information by clicking here: http://bit.ly/2r3BDJb
There’s a big difference between advisors who do between $200,000 and $500,000 and those who do north of $1 million. Can you guess what that difference might be? The answer is delegation. And though delegation is challenging for many entrepreneurs, Matt and Micah are going to break down why it's necessary and how to do it well.
You can find show notes and more information by clicking here: https://bit.ly/2p3OZ7q
How do you run a virtual team? Today Jamie Shilanski (Micah’s sister) joins the show to share how she does such a phenomenal job managing a virtual office and how the team dynamics work when half the team is in the office and the other is spread across the country.
You can find show notes and more information by clicking here: https://bit.ly/35wPbwm
Are you being your most productive self in your meetings? Today Matt and Micah discuss how to add massive value to your meetings, and therefore your clients. They will share what their teams do to maximize efficiency during a surge week and ensure things run smoothly.
You can find show notes and more information by clicking here: http://bit.ly/2AXDhgU
Are you marketing—or are you avoiding work? Today Micah and Matthew discuss what it means to market with purpose, and not just for the heck of it. They will be evaluating different marketing techniques and weighing in on their value, who has success with them, and whether or not you should be using similar tactics.
You can find show notes and more information by clicking here: https://bit.ly/2nsEav1
Many people look at the way others run big businesses and think, “I can do that, it looks so easy!" Is it truly that easy to start up and run your own firm? Today Micah and Matt discuss how they got to where they are in their businesses, including the hard work and mastery that goes on behind the scenes.
You can find show notes and more information by clicking here: https://bit.ly/2khMrAj
Micah and Matt frequently talk about two of the core tenets of The Perfect RIA: delivering massive value to your clients and running a highly profitable and efficient practice. In this episode, the guys are going to get a bit more personal and in-depth as they discuss the third tenet: spending time with your family.
You can find show notes and more information by clicking here: https://bit.ly/2lGYoQf
Micah and Matt are back with another mailbag episode answering your questions! Today they share tips and tricks for building your firm and providing massive value to your clients.
You can find show notes and more information by clicking here: https://bit.ly/2m6eP92
As entrepreneurs and business owners, we often try to squeeze too much into a day. So how do you free up your time for the important things? Today the master of delegation, Gina Cotner, joins the show to explain how to delegate tasks to your team and train your assistant to think like you.
You can find show notes and more information by clicking here: https://bit.ly/2Pi4QLQ
When a firm goes through any major strategic shift, it is always a concern that the team will not want to comply. So how do you get your team on board through important changes? Today Micah and Matt will share advice on how to address your team's fears and questions, while also sticking to your convictions.
You can find show notes and more information by clicking here: https://bit.ly/2Zu3gX8
Today Micah and Matt are breaking down fees and how much you should be charging your clients. While there is no perfect way to set a fee and no ideal structure for every firm, the guys will teach you how to be confident in the value you are providing for your clients.
You can find show notes and more information by clicking here: https://bit.ly/2TPkBbO
There's a lot of advice out there about how to network effectively, and the truth is that while some of it is solid stuff, plenty of it is just plain bad. So in this episode, Matt and Micah will help you sift through the tips that are totally off-base and find where networking can be a powerful marketing tool.
You can find show notes and more information by clicking here: https://bit.ly/2OVMY9k
Matt and Micah are frequently asked about how they have set up their practices, what it takes to manage a successful business, and how to make sure you still have time to do the things you love. They will be answering those questions and plenty more in today's mailbag episode.
You can find show notes and more information by clicking here: http://bit.ly/2YGbnzo
Clients come in and express all kinds of ideas, such as buying gold, purchasing property, getting in on a timeshare, and more. But what do you do when something seems like a bad idea? In this episode, Matt and Micah break down how to use caution and strategy to help lead clients to a good decision that fits with their goals—without shooting down their ideas right away.
You can find show notes and more information by clicking here: https://bit.ly/2Ysv1Tt
Although many people complain about compliance and see it as a burden, this episode is all about changing your attitude so you start to see it as an opportunity. Compliance and audits exist to get the bad guys out of the market, so as long as you’re not one of those bad guys, Matt and Micah have some great tips and insight into how you can prepare, communicate, and stay ahead of the game.
You can find show notes and more information by clicking here: https://bit.ly/2xZ01eZ
Today Matt and Micah discuss the importance of tracking your numbers. While doing his mid-year review, Matt found that he had come in lower in hours than he expected, which got the guys thinking about the value of owning where you have slacked off or messed up in order to improve and get back on track with your goals.
You can find show notes and more information by clicking here: https://bit.ly/2XBWB1e
How do you know if it's time to hire a new employee? And how can you be sure that employee will fit in and become a valuable part of your team instead of just being an unnecessary extra expense? Today Matt and Micah discuss staffing and how to hire the right person for your business.
You can find show notes and more information by clicking here: http://bit.ly/2Ja7sqf
It can be really hard to know where to begin when you’re building your practice from the ground up, so today's episode covers the basics on how to start your practice from scratch. Matt and Micah dive into the key pieces that will make a big difference in how well you do from the beginning so you get up on your feet faster.
You can find show notes and more information by clicking here: https://bit.ly/31V8QnI
This episode is dedicated to opening up that mailbag and answering your questions. Many listeners asked about how Matt and Micah set up calls, meetings, and planning, so they will lay out how they handle these things from their different strategies to the policies they have in place.
You can find show notes and more information by clicking here: http://bit.ly/2XdBH7p
If you think Matt and Micah's journeys to building successful practices were easy, think again. They made just about every mistake along the way, and today they discuss where they went wrong and what they learned in order to give you the insight and guidelines you need to avoid making these same mistakes in your own practice.
Listen in to hear some of their biggest marketing flops and what they could've—and probably should've—done differently. You'll also get to hear some of the successful marketing choices they have made that will make it easier for you to gauge and ensure success for yourself.
You can find show notes and more information by clicking here: https://bit.ly/2Z9GwMd
Regardless of the company, staffing issues happen, and it’s up to us as leaders to investigate these problems with a curious mindset. In this episode, Matt and Micah discuss the importance of looking into where the system failed, instead of blaming your staff when a problem comes up.
You can find show notes and more information by clicking here: https://bit.ly/2Qi46TK
When it comes to generating positive revenue, it's easy for advisors to end up focusing on the wrong things. In this episode, Matt and Micah dive into profitability metrics and discuss the key tips and tricks they use to stay on track. If you’re interested in improving in this area, then this conversation is for you.
Listen in to get a new perspective on how pride and chest-pounding factor into this and what advisors should really be focusing on. You'll learn where integrity comes into play, where expenses get out of hand, the different accounts that are important, and more.
You can find show notes and more information by clicking here: https://bit.ly/2weJLpe
Adding valuable services to your practice that benefit your clients is simple, but in order for things to run smoothly, it’s important to understand the whole story. Today Matt and Micah will go over some of the most valuable takeaways from their conversation in Episode 28 with Ed Slott. Ed's detailed and practical training has been a huge game changer for financial planners, and this episode breaks down some of the most important things he shared.
Listen in to get examples of what it looks like to add the types of services Ed mentioned and how to implement them so that clients have as much clarity and peace as possible. From tax planning to showing clients how things will play out beforehand, you’ll learn how to properly demonstrate and communicate these services in order to get the best outcome for you and your clients.
You can find show notes and more information by clicking here: https://bit.ly/2WMELUr
What does it take to provide true value to your clients? Today we have financial expert and advisor Ed Slott on the show to answer that question and more. Named “The Best” source for IRA advice by The Wall Street Journal, Ed works with advisors across the country and provides training in IRAs and retirement distribution planning.
In this episode, Ed breaks down the key areas advisors should focus on in order to ensure they are offering high-value services to their clients. Listen in to learn common (and costly) mistakes many advisors make, why it's so important to ensure you have proper tax training, and what consumers really need from their financial planners.
You can find show notes and more information by clicking here: http://bit.ly/2PWBAXY
There’s something that plenty of advisors are guilty of doing without even realizing it: lying to themselves. It’s easy to inflate the numbers in your practice, or even guess at them without truly knowing the metrics. And while it may seem harmless to toss around estimations, the truth is that it’s actually quite the opposite.
In this episode, Matt and Micah dive into the subject of integrity and how to make sure you’re living and owning your truth. Listen in to learn how this subject relates to continuous growth, improvements in your practice, and increased efficiency.
You can find show notes and more information by clicking here: http://bit.ly/2UMSDfU
When it comes to client meetings, we’ve talked a lot about why grouping appointments is beneficial to you, your team, and the people you serve. But what happens when someone wants to see you outside of the appointment surge? Do you let them come in during a time you haven't blocked off for meetings, or is it better to stick to your pre-established schedule?
In this episode, Matt and Micah discuss what it takes to reach that important balance between working with clients to achieve their goals and making sure they don't dictate your full schedule. Listen in to learn how to set time parameters that empower both you and your clients, as well as systems you can put in place to make sure client communication runs smoothly and efficiently in your practice.
You can find show notes and more information by clicking here: http://bit.ly/2L0dxII
Too often, people hang onto the idea that anyone who is successful must be lucky. Worse yet, those same people decide that a similar type of success is impossible for them because they believe that they don’t have that kind of luck. So today, Matt and Micah are setting the record straight about what really leads to success.
Listen in to hear how attributing others' success to luck not only discredits their knowledge and hard work, but also discourages us from taking ownership of our own ability to change our situations. You’ll discover where “luck” truly comes from, how to adjust your mindset so you can learn from successful people instead of envying them, and what you can start doing today to create the kind of practice you want.
You can find show notes and more information by clicking here: http://bit.ly/2X895Zw
Key Links
- [Link Needed for QCD/Tax preparation document Report that Matthew generates for clients. He references that if someone emails Colleen, we can get a sample of it for the show notes around the 12:34 mark of the episode]
- Gear Up Program to learn about taxes: https://checkpointlearning.thomsonreuters.com/GearUp
- Bob Keeblers site for education resources: http://www.keeblerandassociates.com/about
- Ed Slott’s website for resources: https://www.irahelp.com/
- Michael Kitces’ site: https://www.kitces.com/
Important Show Note/Disclaimer: When Micah discussed doing paperwork for ROTH conversions/rollovers, he was referring to establishing standing instructions for the client with the custodian so that if a rollover is needed, the ‘link’ and permission has already been established. Micah was NOT suggesting that you have clients sign paperwork that is held until needed. This would be a huge compliance issue that we strongly discourage.
Matt and Micah are back to talk about taxes! Last episode covered a lot of ground, but there was still a few key points that hadn’t been addressed.
So, this talk covers expands upon the previous themes of bringing massive value to clients through tax planning and a solid communication of your expertise to the client. And as a showcase of the always pragmatic advice of the Perfect RIA hosts, they delineate key tax planning strategies for your benefit, as laid out below.
[#1 Tax Benchmarks ]
- Micah has a system for tax planning with clients that accounts for the next 30 years. He stresses the importance of looking forward and not in the rearview mirror. Because tax codes aren’t static (nor are rates), dynamic adjustments are needed. Only forward-thinking moves can adequately handle this.
- And once this 30+ year benchmark is projected and established, then every tax move with the client is relative to the baseline number that is set. It’s a very tangible, measurable way to plan for taxes. And keep in mind, the overall goal is save the client money, so the benchmark becomes a way of adjusting to taxes to make that happen.
- And one more vitally important aspect of this benchmark is that you have to communicate to clients in a graceful and effective way. Being able to articulate the plan in a way that keeps in mind the emotional aspects of writing X amount of dollars now to save money in the long run can take a lot of grace. Very important to consider.
[#2 Enhancing a Client’s Tax Benefits Through Charity ]
- For tax planning, Matthew involves himself with client’s and maximizes the return that his client’s get for charitable giving. He says that giving to charities is not a means to an end for a tax break, but that it can still be used as a way to leverage tax benefit.
- They both also bring up the value of Qualified Charitable Distributions (QCDs), which can bring a lot of tax benefit. But Matthew also states that whoever is doing the tax preparation needs to be told about the QCD, or else it might go unreported.
- And to ensure that clients get the tax benefit they are entitled to, Matthew actually sends out tax letters to the tax preparers of his clients to make sure they know about any QCDs, so they can factor them in.
[#3 Asset Sales ]
- Rental properties, land sales, and other various business aspects are often neglected. Micah stresses that no, RIAs are not real estate agents, but you can still look at demographics and stats that are reinforced by taxes from planning perspective. Often real estate agents won’t factor in a long term strategy for taxes like a tax-savvy RIA can for clients.
- It’s all about timing! And good timing often means being proactive with clients about the timing of an asset sale and what that means from a tax standpoint. It could be the difference of saving $15,000 in taxes for a client.
[#4 Roth Conversions and Rollovers ]
- Micah breaks down the combination of Roth conversions and rollovers for increasing the tax value for clients.
- And Matthew explains what he does in his practice to achieve ‘tax liquidity,’ where he moves remaining amounts of money in a client’s tax bracket to a Roth IRA.
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Matt and Micah’s Action Items
- You need to start getting tax returns from clients. Every page is key! And make sure you are articulating the importance of getting the tax return so that clients are jumping to send it to you!
- Continue your tax education. Don’t settle for a certain amount of knowledge. Really keep studying and improving your tax knowledge. Micah suggests Gear Up seminars and Ed Slott for tax learning and tips. Matthew suggests Bob Keebler and Michael Kitces as resources.
- Learn how to articulate this essential tax information to clients.
- Have a checklist, especially if you’re newer at doing tax returns, to ensure that you’re covering your bases and asking the right tax-related questions.
More details at: http://theperfectria.com/lets-talk-about-taxes-part-2/
Produced by Simpler Media
Key Links
- Micah’s appearance on Michael Kitces’ podcast: Adapting the 4-hour work week
Matthew and Micah are of the opinion that an expertise in tax planning (not preparation as is accentuated in the episode) is an essential base of knowledge to cultivate for all financial advisers.
As they both elaborate, it would be a case of gross negligence to neglect discussions of taxes with clients. In fact, Micah says that taxes are the biggest expense for any client. So you should invest considerable effort in tax planning.
This begs the question of tax expertise in your own firm. Are you well-versed in the nuances of the tax code? Can you provide the necessary value for clients on the nature of tax planning?
Matt and Micah talk of their own experiences and give advice, represented by these key talking points below.
[#1 Difference Between Tax Preparation and Tax Planning ]
- Micah stresses that he doesn’t give advice on tax preparation, which involves gathering the necessary documents, etc.
- He is involved in tax planning, which means that the future is brought into focus, and things are looked at that might affect the taxes of the client. So, it doesn’t hinge on giving tax advice.
- Matt and Micah share that the role of the tax planner really is about educating compliance officers, CPAs, and the client, about the line between financial planning and tax preparation.
[#2 The Infrequency of Tax Planning in the Industry! ]
- As our hosts state, it is surprising just how little tax planning is being done for their clients.
- They state that even though clients may have CPAs and other professionals who are handling taxes, what they’re really handling is the tax preparation side and not the planning side.
- This means that ultimately clients are spending a lot more money on taxes than need be because no one is doing the necessary planning.
[#3 The Importance of a Client’s Tax Return ]
- Matthew likens a client’s tax return as an essential tool for checking the heartbeat of a client. That is, he compares it to a doctor checking the blood pressure of a patient, as an introductory measure.
- And Micah says that a tax return is a quantifiable way of measuring the value you can bring to your client. It’s also key for making tax planning decisions as well.
- But they stress that you need to know how to read the tax return to a T. That way you can break it down and readily discuss it with clients. And it shows you have a handle of what’s going on. It is very valuable.
- A warning from Matthew though is to really know your stuff before you jump into tax planning with clients. Also, making sure you work as a team with the tax preparers is essential as well.
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Matt and Micah’s Action Items
- Go out and get tax returns for all of your clients. If they ask why, just simply tell them how big a role that taxes play in getting the big picture and returning maximum value.
- If you are getting the returns, the next step would be studying the tax codes, knowing the new laws inside and out, and actually using the information to return value to your clients in whatever way possible.
- Learn how to view a tax return and then communicate that information to clients in an effective manner. It’s one thing to know taxes like the back of your hand, and it’s another to explain it in a clear way to someone who doesn’t.
- Incorporate taxes into your prospect process.
- Set up a long term tax planning strategy with every client so that you know their future tax implications. Clients love having that safeguard in place.
More details at: http://theperfectria.com/lets-talk-about-taxes/
Produced by Simpler Media
Key Links
- Micah’s appearance on Michael Kitces’ podcast: Adapting the 4-hour work week
- Joe Lukacs’ website: http://practicepower.net/
Some common questions that Matthew and Micah encounter are: “should I charge a commission? What about a planning fee? How much of a percentage should I take for that?” And so forth.
If you can think of any variation of question regarding fees, Matt and Micah have been asked it.
And so in turn, to set your mind at ease, they spend the entirety of this episode setting up simple systems and tips for determining how much, when, and why you should charge a certain rate.
Below are the most telling aspects of the episode.
[#1 Make a Business Plan ]
- As Micah states, it’s ok to charge different amounts for differing levels of service. When likened to what a motel charges, depending on the amenities, service, and value you receive, the price expected will rise in response.
- And the way to really know how much you should charge is to break down the financial goals for your firm through a business plan. This is the first thing that should be done. The purpose is to delineate the amount of money needed to be able to guarantee that clients will receive the massive value they deserve.
- But Matthew confesses that he didn’t really have a business plan in place until his practice was a little more profitable. A decade ago he used to charge 1% for certain fees (to keep it simple). So he offers that as an alternative to a business plan until your practice is robust enough to warrant one.
[#2 The Many Different Types of Fees ]
- Income fees, asset fees, hourly fees, commissions, and the list goes on. How should you build a system around the many different types of fees out there? Both Matt and Micah suggest that you don’t overcomplicate the issue.
- Matt also likes to stress that perceptions of fee-only advisors could be that of the slimy used-car salesman. But really, there’s no one way of charging that is better than the other. It’s up to you as a person: your integrity, character, and the value you bring to your clients.
[#3 Don’t Stigmatize Any One Type of Fee ]
- As Micah elaborates in an anecdote he shares, he provides direction to clients regarding insurance. It doesn’t earn him a lot of revenue, not by a longshot. But it definitely brings value to his clients who would be thrown out to the wolves in certain situations.
- Matthew echoes this sentiment by stating that commissions shouldn’t be stigmatized. That is, you shouldn’t feel the need to protect your clients from certain methods of fees (commissions from an insurance agent), you should only focus on bringing clients as much value as possible. So if that means someone else is getting a commission based on your actions, there is nothing inherently wrong about that dynamic. The outcome for the client is most important.
[#4 Transparency With Fees ]
- Micah expresses his dislike of surprise fees and undisclosed commissions. Again, whatever fee you decide on (fee-based, fee-only, commission, etc) doesn’t matter so much. There’s nothing wrong with any one of them. But you have to make sure to communicate all you can about fees to the client.
- And this transparency has a lot to do with your integrity as an advisor as well. Being willing to openly discuss how and what you charge is key for perceptions of your integrity for clients.
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Matt and Micah’s Action Items
- Let your fees reflect the real value you bring to clients. Not through some abstract interpretation that is far removed from the actual operation of your practice.
- Jump on Joe Lukacs’ website: http://practicepower.net/. For his resources on how to cultivate the necessary internal dialogue for bringing value to clients. He calls it My Operating System (MYOS).
- Look to see what the non-independent brokers (the wirehouses) are charging their clients. This is just for a frame of reference for what you should be charging your clients relative to the service and value that you provide.
More details at: https://theperfectria.com/to-fee-or-not-to-fee
Produced by Simpler Media
Every advisor doesn’t necessarily need to establish a clear-cut account minimum for their clients. In fact, Micah Shilanski doesn’t have one in his practice. He has a system of fees in place which function in a very similar way.
But for those who do establish account minimums, like Matthew Jarvis, this all-important number will guarantee, at the very least, the growth of your practice.
To ensure that you practice what Matt and Micah consider to be one of the most important facets of the industry, they provide some great advice on the topic through these keys talking points.
[#1 Be Ready For Clients Who Are Below Your Minimums]
- Matt starts off right away with the recommendation that you should know how to react to the select clients who fall below the account minimum you have set in place.
- A great practice that Matthew likes to utilize when clients don’t meet the mark is to refer them elsewhere using an apt analogy. He likens himself to a cardiologist. But what the client actually needs is a neurosurgeon. No hard feelings, just not at the right place.
- In addition, for those who perhaps get irked that you won’t take them on as clients, explain to them that by taking on any more clients, you run the risk of spreading yourself a little thin and taking away value from already existing clients.
[#2 It’s OK to Tell People No! ]
- It’s hard to tell people no sometimes. If you have a new practice, if you have a more general enterprise versus niche clientele, the idea of turning people away from your venture can be difficult.
- Micah says one of the quickest ways to grow your practice is to respectfully tell prospects that don’t fit, no.
[#3 Discounted Fees? Not a Good Idea! ]
- The question of ‘what if it’s someone you know?’ comes up and Micah states that every instance where he has been involved with a discounted fee situation has blown up in his face in some say or another.
- But Micah also does state that he has done some pro bono work in the past with strict conditions in place that actually led to the making of very strong clients he still works with to this day.
[#4 The Risks of a Hybrid Firm ]
- Matthew says that making your firm a quasi-charity will probably lead to burnout because you are burning valuable time and resources on many different cases. You aren’t really doing anyone that much of a favor.
- As Micah states this hybrid dynamic (part charity, part financial advising practice) makes for a confusing time for clients. This is because so many clients are part of the same network and know each other. If you have a reputation for pro bono work, recommending clients becomes harder: “Do I recommend those who need cheap work or those who will bring more value to the practice?”
[#5 Common Mistakes Most Advisors Make ]
- All business is not good business. In this respect you risk running into the quantity over quality realm i.e. rushing around in a mad frenzy with too many clients.
- If you are afraid that your hard account minimum (say $750,000 in revenue) is too much and you’ll miss out on so many clients, don’t worry! The million dollar clients are out there and will find you.
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Matt and Micah’s Action Items
- Develop a strategy for communicating with the prospects that you are not interested in working with.
- Train your team on how to filter phone conversations regarding inquiring prospects who want to join as clients.
- Determine who your ideal client is: assets, age, profession, location, and so forth.
- Set your soft and hard minimums.
- Have an outlet for pro bono cases.
More details at: https://theperfectria.com/account-minimums-as-a-metric-for-finding-ideal-clients
Produced by Simpler Media
Key Links
- Book that Micah references: Digital Minimalism by Cal Newport
- Time blocking series by Matt and Micah: https://theperfectria.com/time-blocking/
- 4-Hour Workweek by Tim Ferriss
Matt and Micah are here to talk about the importance of what they define as ‘return on time’. It’s a concept set in place to ensure that time is spent growing revenue.
Because revenue and growth are both extremely important for the longevity of your firm, your time should be spent accordingly.
To calculate your return on time, Matt simply divides the amount of hours he works every year with the gross revenue of his firm. This then is his ‘hourly rate’.
There you have it. Simple enough, but oh so crucial for weeding out the work hours that don’t serve your practice. If you’re in the middle of doing a task that doesn’t equate to your hourly rate, it’s probably not worth your time.
The rest of this episode is spent reinforcing this idea. Here are some of the key principles to echo:
[#1 Don’t ‘Play Office’]
- Matthew admits to his wasting time with powerpoint presentations and obsessing over the minutiae of the slides, but realizing that if he spent 6 hours on designing the thing, what kind of value was he bringing to his practice? Was he making his hourly rate? Not at all.
- Again, playing office in this context means spending too much time on tasks that would be best delegated to someone with powerpoint design strength. Someone who could knock out a powerpoint in 30 minutes, instead of wasting 6 hours on font size.
[#2 Forcing Mechanisms for Productivity]
- Matthew likes to set a timer when he’s designing a new financial plan. In addition to making the financial plans simple (a different podcast episode entirely), he makes sure he has this simple forcing mechanism in place, or else he can get caught up in the details.
- Micah, in addition, likes to remind himself that his work should be bringing his practice, his family, and his clients as much value as possible.
- Another example is that Micah has to constantly remind himself that he does need to delegate tasks to other people. He can get caught up in thinking he can retain and handle a lot of different responsibilities that are best delegated elsewhere.
- Never underestimate post-it notes! Micah likes to have a note he sticks on his computer that keeps him focused on the 5 most important tasks he has to get done during that day. Essentially, he limits the things he needs done in his day to the most important.
[#3 Outside Accountability ]
- To keep yourself on the straight and narrow of productivity and revenue-producing best practices, your team, clients, family, and so forth can help keep you focused.
- Having your assistant keep you on track with meetings and to stay less-distracted by ‘shiny objects’ as Micah states, brings that third-party accountability that is so crucial.
[#4 Misconceptions About What is Required for Work ]
- Matthew says that so many feel that being reactive is real work. In other words, you need to block out the required time for responding to emails: always being on call to the whims of clients or killing your own productivity by stopping and starting projects to respond to an IM (if you can help it) is a bad practice that detracts from your overall value.
- Don’t let your teams interrupt you all of the time. A better system needs to be set in place to prevent your teammates from always interrupting your flow.
- Social media and news is not needed to be a really good advisor.
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Matt and Micah’s Action Items
- Check out the time blocking video series that Matt and Micah just put out recently.
- Put a post-it note on your computer as a reminder to work your true hourly rate.
- Read or reread the 4-hour workweek by Tim Ferriss.
More details at: https://theperfectria.com/tips-to-maximize-your-return-on-time
Produced by Simpler Media
Key Links
- Book referenced in this episode: Eat That Frog! by Brian Tracy
Matt and Micah are tired of well-worn assumptions about advising. In particular, about how lifestyle advisors are lazy by nature.
On the other end of the spectrum, many think the job should entail 60+ hour work weeks.
Both are wrong. It’s not about the time spent, but how effective the time was used. Matt and Micah have four words of advice to give to advisors: quit pretending to work.
The hosts lay the issue to rest through these tenets:
[#1 Evaluate How Much Work You Actually Do]
- Really dive into the weeds and evaluate what you do every day. If you are reading ESPN articles, stop. If you are on social media, disconnect. If you are working 60+ hours a week, ask yourself if you are just pretending to work. Really be honest with yourself.
[#2 Take Time Away From Office]
- A counterintuitive notion, but one which makes your work practices effective.
- Schedule time away from work to keep yourself fresh. An advisor who is fresh is an effective and personable client.
- Someone who is burned out, working 60+ hours a week, is not going to be able to bring massive value to clients.
[#3 Work for a Thousand Dollars an Hour ]
- This means to examine every action you take and ask yourself, “Am I doing something that is worth a thousand dollars an hour right now?”
- This also means working with clients as much as possible. Making calls, setting up meetings, and helping a client achieve their goals is much more valuable than hiding behind a computer screen. Do real work. Don’t pretend.
- Do the things you find yourself avoiding at the office. They are probably the most important.
[#4 Analyze The Overall Scope and Vision of your Firm]
- Analyze the evolution of your business.
- Take time to think, plan, and practice forward-thinking with your venture.
- Work in-house and make sure your team dynamic is strong.
- If working alone, hold yourself accountable, and look to strengthen your prospecting, process, and overall net revenue.
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Matt and Micah’s Action Items
- Put an alarm on your phone that reminds you to ask yourself the question: “Am I doing something that is worth $1,000 an hour right now?”
- Write up a list of things that are not worth your time at the office: social media, websites, ESPN articles. Get rid of them.
- Set up an exercise where your team holds you accountable for every time they catch you on social media or wasting time. Pay $100 to a lunch fund or for fun team activities. Hold yourself accountable that way.
- Shorten your work day, as it will make you work more efficiently.
- Set a hard boundary that bars you from working past a certain time. Let’s say 5 or 6 PM.
More details at: http://theperfectria.com/stop-pretending-to-work/(opens in a new tab)
Produced by Simpler Media
Key Links
- Books referenced in the episode: Extreme Ownership || The Dichotomy of Leadership by Jocko Willink and Leif Babin
- The Five Love Languages by Gary Chapman
According to both Matt and Micah, to truly know your clients, you have to put these key principles to use in your practice:
[#1 Learn The Communication Styles of Your Clients and Team]
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According to Micah, there are about 15 different communication styles out there, but he personally likes to use 4 styles that he and his team attribute to clients and each other: these are the Driver, Analytical, Amiable, and Social communication styles.
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The Driver is someone who wants to get things done right away. They aren’t impatient so much as they are eager to get right to work and tackle their tasks diligently.
- The Analytical person on the other hand works at a much slower clip because they want to make sure their ducks are all in a row, that all of the relevant data is squared away, and that no surprises crop up.
- Thirdly, Amiable types of communicators truly value conversation and friendliness and won’t open up and communicate effectively until they feel comfortable enough. Opening meetings with conversations and chit-chat is the best way to communicate with this style of person.
- Lastly, the Social type is more spontaneous. A person with this communication style tells you what’s on their mind and is expressive in their decision-making process. Maybe a little impulsive and emotion-driven, but in the best way, of course!
[#2 Start Meetings With a Client-First Mentality]
- Like Matthew states, starting meetings by addressing the needs of the client first has made all the difference in communicating with his clients in an effective way.
- Start with the phrase: “How can I be of most assistance?” Or a variation of the same phrase. The emphasis should be on turning attention towards the client first, as this will help ameliorate any nagging concern and thus open up a more concentrated meeting thereafter.
- A follow up question of, “anything else on your mind?” is always a great addition to the aforementioned phrase.
[#3 Ask the Client About Their Most Pressing Expense(s)]
- Micah says a great way to gauge the priorities (and subsequently adjust to them) is to ask what the next 1-2 months of cash flow will be most directed towards. If it’s a vacation or a trip versus tuition for a grandchild, then Micah has the information he needs to communicate further with clients.
[#4 “Can You Tell me More About That?”]
- One of the most effective questions in the book, asking if clients can further articulate an expense or a plan can initiate a positive dynamic of trust, as well as unlock information that would have stayed put if not addressed.
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Matt and Micah’s Action Steps
- Start small! Take your top 10 clients and figure out their communication styles.
- Next step is to go internal and attribute a style to yourself and your team members. Be honest and take ownership!
- Lastly, Matthew suggests buying The Five Love Languages by Gary Chapman, which is not only for learning how to effectively communicate with your spouse, but for broadening your mind on the whole spectrum of communication styles and methods out there.
More details at: https://theperfectria.com/talking-points-for-true-communication-with-clients
Produced by Simpler Media
The Perfect RIA hosts have a few action items for delicately dealing with clients during rough financial climates and circumstances.
[#1 Let Clients Frame the Conversation]
- Let the client direct the subject of conversation during meetings. This way, you let the client bring information to you: concerns, figures, facts, charts, you name it. The point being that you can let clients take the wheel and frame the conversation.
- Don’t jump to conclusions! This goes with the aforementioned information; making sure you understand the client’s concerns first, and then responding accordingly, is very important. You can then redirect and get them back on track after all anxieties are addressed.
[#2 Make Sure Your Client Knows That You Have a Plan]
- This is an extremely important facet of setting a client’s’ mind at ease. Reminders that there are safety nets, disposable income, and buffers at play can make all the difference, and can help keep a client focused on the long term goals that were set in motion from the early going. Just letting them know that there is still a cash bucket--or as Matthew call it, a “war chest”-- in place can make a big difference.
- Once you remind a client about the established, unwavering plan, getting them to articulate it back to you for reinforcement is a good litmus test for the mitigation of anxiety.
[#3 Wait for 7-10 Clients to Contact Your Firm Before Sending Out a Response ]
- Micah stresses to not train your clients to be reactionary to every dip and dive of Stock Market. If it falls by 500 points, don’t rush to send out a newsletter and to pacify the minds of your clients. Let about 7-10 clients come to your first before reacting.
- Talk about the long term, and not the short term trends in the market that will inevitably happen again. Matthew says that his firm tries to not break their twice-quarterly reports, even during times of economic turbulence. This prevents Pavlovian conditioning to every happening in the market.
[#4 Have a Regular Communication Schedule with Clients]
- Matthew reminds you that clients need to have a consistent drip of information from your firm. This does not mean bombard the clients with newsletters and resources because they are being bombarded already; instead, it means to have a firm presence and to provide relevant, helpful information to your clients, on a rigid schedule.
[#5 Make Sure Plan is Clearly Communicated]
- Matt and Micah tell you to not give canned economic commentary or irrelevant information that takes away the focus of the long term goals. Clearly articulate the plan and information, and make sure that clients understand. Matthew calls this “doing it in crayon,” which he learned from an engineer, and which also means to simplify the language as much as possible.
- Speak in language that accentuates the long over the short term. It is much too complicated and murky to try and predict a month’s time ahead or financially forecast the economy. Clear communication means speaking in long term language.
[#6 Weekly Team Meetings to go Over Market Concerns]
- Matthew expresses just how important it is to have weekly meetings with your teams to express concerns about the market, to instill confidence in the overall plan, and strength of the firm. There’s nothing worse than having a client call in and have an office manager or team member that doesn’t sound confident about the longevity and efficacy of the overall firm, despite the precarious circumstances.
[#7 Talk the Talk/ Walk the Walk]
- Micah encourages advisors to do the same exact things they preach to clients. Being on the same page, having investments in the same stocks, being affected by the same market, all of these things are important to communicate for building empathy and reassurance in the minds of clients.
- Take ownership, follow the plan and program that you have set in place, don’t bend to the whims of clients, and stay consistent in what you say; let your actions stay in step with your words.
[#8 Remind Clients That Your Door is Open]
- Matt likes to remind clients after every newsletter, meeting, you name it, that if they need anything to call, send an email, and express any concern they may have. A thank you is always expressed after clients reach out as well.
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More details at: http://theperfectria.com/coaching-your-clients-off-the-ledge
Produced by Simpler Media
Although Matt and Micah realize that vacation is a time for much needed R&R, they couldn’t help but notice the strong business practices of Disney during their time at Disney World. This episode is the product of their seizing an opportunity to appreciate some intelligent business principles at work. This episode is thus solidified around 5 central tenets from the Disney World business model that were gleaned during their vacation.
According to both Matt and Micah, the five biggest business takeaways are as follows:
[#1 Voluntary Transactions]
- Disney World is expensive, but they are completely transparent with just how expensive they are. They even have shirts that say “the most expensive day ever.” What this creates for those in the amusement park is almost a willingness to participate in the expensive nature of the park. Disney World promises a magical experience with an above average price tag; the biggest part of the experience is willingly forking over the money and getting that return of value that is promised. This is directly applicable to your practice.
[#2 Paid Prospecting]
- Once you pay the cover charge to get inside the amusement park, everything else still costs money. And every ride ends in a gift shop, as Micah states. They really don’t give you anything for free. This is directly applicable to advisors who set up introductory meetings for prospecting and who stick to their rules about pricing. After introductory consultations, you won’t throw free stuff to the client to get them on board, you demonstrate your ability to provide the client value, and it will cost commensurately.
[#3 Saving Clients’ Time Through Skillful Guidance]
- As the episode explores, there are expert guides one can hire at Disney World who walk you through the park and who know the system well enough to provide you the most rides, attractions, and the most efficiency for your buck. Just like your advising practice, one should be a comparable guide for clients.
[#4 Increasing Pricing]
- It is well-known that Disney has no qualms about increasing their prices to line up with their need for profit and growth; so too you need to increase prices to meet goals and to fully bring the quality of work needed for your clients.
[#5 Don’t Budge]
- Plain and simple, there are rules in place at Disney that are completely enforced. So too one should not bend to the whims of clients in your practice. Prices shouldn’t drop, exceptions should not be made. Communicate to prospect and clients that your business model is concrete and its practices unwavering.
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Matt and Micah’s Action Items
- Be aware of what you need to charge to make 50% profitability (remember, this means after all salaries are paid!) in gross revenue a reality for your firm
- Create unwavering rules that are not broken.
- Just like the Disney World guide, guide your clients in a similar manner. Be the time-saving expert they can depend on.
- When you are on vacation, leave the office at home--and yes, that means the email. And when on vacation with your family in particular, being “there” with your family is the most important thing.
More details at: http://theperfectria.com/5-business-lessons-learned-from-disney-world/
Produced by Simpler Media
The content of this episode is anchored in 3 necessary traits for effective financial advising. In addition, Michael provides action items for better financial practices.
Key Links
- Ken Gau and Tom Unger’s Program: The Academy of Preferred Financial Advisors
According to both Matthew Jarvis and our guest, very accomplished wholesaler Michael Appleby, the most successful advisors have these 3 traits:
[Focus]
- Successful advisors have the concentration to take their practice to the next level.
- They have garnered enough concentration to understand who their ideal client is (i.e. pursuing a narrow market versus using a shotgun approach).
- They also focus on the strengths that bring their team together, turning the practice into a smoothly-functioning mechanism for success.
[Discipline]
- Successful advisors are disciplined with time management: their schedule, marketing outreach, every facet of the business.
- And they understand the importance of investing the necessary capital in facets that will make their business flourish: prospecting, personal development for the advisors themselves, coaching, or hiring a skilled team.
[An Affinity for Productive Business Partnerships]
- Successful advisors are not hucksters; they won’t peddle or waste time on small-scale operations with prospects or business partners.
- They are focused on establishing productive partnerships with their wholesalers or other connections.
- They make value propositions to accentuate the most important aspects of their symbiotic partnership--and they stress honesty during their conversations about what works and doesn’t work.
[Additional Topic: Michael’s Most Common Advisor Mistakes]
- They ceased to do the basic activities that brought them to success: the cold calls, due diligence on prospecting--in short, the important actions that first put them on the map.
- Another common mistake is a habitual procrastination towards business planning and forward-thinking types of organization.
- Advisors drop the ball when speaking events aren’t rehearsed enough: the speaking is flat, the fluidity of the event isn’t seamless, seating isn’t mapped out, directions aren’t given, the organization is clumsy, and so forth.
- They don’t follow the same advice they give to clients and thus sacrifice their integrity, reputation, and the overall weight of the advice they give.
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Michael’s Action Items
- Advising isn’t a commodity. Offer something that resonates personally with individuals and which communicates tangible value in a way that transcends the dollar signs.
- Hire a coach, join a program, plan your work, and network.
- Pick a plan and work it consistently. Be persistent with it; it will pay off.
More details at: https://theperfectria.com/confessions-of-a-wholesaler
Produced by Simpler Media
Let’s face it; sometimes partnerships sour. In all vocations, all industries, differences arise between individuals. And for something as valuable as the dynamic between advisor and client, sometimes firing clients is an absolutely necessary action. If an RIA is using time on a client that is less than ideal, that dynamic should be reconciled. Anything but the garnering of massive success for both client and advisor is a recipe for a stagnant practice. So, by necessity, Matt and Micah gather their resources and experiences to walk listeners through the when, why, and how of firing clients.
Matthew mentions an important caveat during the start of the episode: this isn’t about cutting off the bottom 20% of your books; instead, it is about analyzing all clients and making a reasonable assessment towards future sustainability with those particular clients. It is also about finding the clients that “fit your mold,” as Micah says. If they don’t, it is important to mentally admit you made a mistake and then move on accordingly.
Matthew also points out that while you are analyzing your existing client base, the most important thing to consider is the cost. Your cost-benefit analysis of your clients should take into consideration if your confidence is being undermined, your process is being disrupted, or you cringe whenever ‘X-Client’ calls. Matt also states that if his clients don’t follow his advice, they are out. Especially if clients start undoing key steps in the process; or, even more so, if a client keeps missing meetings, one must part ways.
But with all this being said, there is definitely a delicate way of letting someone go. Sending a letter, not going into the details in the document, and refunding the current quarter is Matt’s process. And then taking any calls that may come through for explanations. Being delicate and careful on this issue is very important. Micah prefers having face-to-face meetings; but again, he communicates his reasons for firing the client very carefully. Both also bring up the important point that one should never be beholden to a client. This means that you should have a deep enough reserve of clients to keep the revenue stream flowing--even if you have to fire a client who brings your firm a lot of money.
Both Matt and Micah have some action steps for everyone in the industry. The first is to print off a list of every client you have and then ask yourself this: would you hire any given client again? If not, if you can’t justify your keeping them, or you cringe whenever you see their name on the caller ID, it’s time to part ways. Doing this first by yourself, and then later with your team can be a very powerful tool.
The second action step is to make a commitment to what Micah calls the “graduation conversation”--that is, the firing conversation or letter that will mark the termination of your partnership with a client.
The third actions step is to draw up a statement that clearly communicates your moral code, beliefs, and a line that won’t be crossed by any means, to avoid waffling or gray-area conundrums. Outline what a ‘fireable offense’ is.
Key Links
- Episode 5: Always Take the High Road
Financial Planning Software is scrutinized in this episode. But right away, Matt and Micah are sure to remind listeners that they aren’t completely condemning the technology, just encouraging less of a reliance on the tool.
It is certainly true that a lot of planners are required to use some sort of financial software for compliance requirements or for the more detailed reports that clients may ask for. Yet, Matt and Micah still usually don’t put a lot of stock in the software’s potential to bring value for clients; they both feel that value can be better drawn from the wellspring of positive client interactions over the by-the-numbers approach only received well by those with an affinity to complicated formulae and diagrams (i.e. engineers or financially-minded clients). On average though, the detailed and bulky reports that FP software spits out is too involved for the ordinary client. Eyes will grow glassy and yawns will be stifled.
Instead, simplification is needed. Matt states that forcing mechanisms like one-page executive summaries and up-front fees to determine the value you are bringing to the table is much more important than beating your client over the head with a dense collection of Monte Carlo Simulations. Instead, Matthew states that he only has four key things he goes over with clients: retirement income, risk management, income taxes, and their investment portfolio. Long term goals are always discussed as well, but that is a given regarding the nature of the business.
This leads to the biggest take-home message of the episode: tailor your financial plan to the client. If they want a more involved financial plan then give it to them. Determine how you can bring the most value to your client, first and foremost. Most likely they will want the succinct, one-page summary over any other alternative.
And, like all of the episodes, Matt and Micah preach the merits of taking advice and spurring it into action. They provide three key action points to take: go through your financial plan and seek to minimize the noise e.g. the extraneous noise, learn to effectively communicate your financial planning process in 45 seconds or less, and shorten your financial plan into an executive summary.
This episode is, as the title suggests, all about broker-dealers. And more specifically, Matt and Micah draw from personal experience to allow listeners to gain their perspectives on the issue. Because both have worked with broker-dealers closely in the past, they know the ins and outs of what to look for in the partnership. They highlight some of the pros and cons to assure listeners that there are many factors one has to weigh in order to make the decision that makes the most sense for your firm: either parting ways or sticking with a broker-dealer is a matter of monetary concern as well as a qualitative concern for your clients.
The pros to working with a broker-dealer are as follows: a BD takes care of all of the compliance in your practice, so that all SEC and FINRA rules are followed. This frees up a lot of time and effort on the part of the business owner, who doesn’t have to deal with a lot of the busywork, shopkeeping duties like: email archiving and proper file storage. Working with a BD also looks good when dealing with auditors; you can avoid conflicts of interest that way. On the other hand, some of the cons of a BD include: you have to keep a record of your own stuff anyways. So, as Micah points out, you are working with duplicate systems: the BD backs up your files, but doesn’t guarantee that you will have access to them if you part ways or an emergency happens. So, with duplicate systems come duplicate costs. In addition, another con is that the cost can be steep enough to warrant your consideration of severing any ties completely. And with that, there are many other elements to weigh, but these are the biggest that are brought up in the episode.
To end the episode, Matt and Micah provide some actions points for listeners: Create a contingency plan. This means that one should always be prepared for emergencies and should plan for the possible severance of relationship with your broker-dealer. Establish vision between firm and BD so that there is transparency in communication. Measure total monetary and potential qualitative cost between you and your BD. And lastly, Reach out to a custodian bank for the purpose of getting your feet wet and finding out what it’s like on the other side (Micah endorses Charles Schwab).
Key Links
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Magellan MasterMind & Network: Page
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The financial advising program that Matt references: Academy of Preferred Advisors
In this episode, the dynamic duo, Matt and Micah, are back to talk about their previous episode with Joe Lukacs. Because of time constraints in addition to the importance of the subject material, Matt and Micah (M&M) wanted to take a whole episode and analyze the insights and principles that “Coach Joe” introduced to listeners. They also express a “hindsight is 20/20” type of regret for these concepts they wished they had known about and implemented in their practice many years prior to their first meeting with Coach Joe/Matthew’s respective coach. And so, for the benefit of seasoned pros and fledgling entrepreneurs, listeners are bequeathed the invaluable advice from a man who wrote the book on financial investing.
Micah starts the discussion by explaining his own relationship with Joe and the usual route both Joe and Micah take in their business relationship. This means they talk once a month, go over important details about Micah’s practice, and meet face-to-face a few times a year. Coach Joe also has a mastermind group called Magellan MasterMind & Network which Micah is involved with, all for the purpose of establishing highly profitable lifestyle practices, as well as reinforcement from fellow RIA’s and professionals. And on the flip side, Matthew shares that he takes weekly calls from his own coach. But despite the differing dynamics at play, both see immense benefit in their respective coaches, noticing positive trends towards forward-thinking in their own lives because of it. Also, as Coach Joe pointed out to both Micah and Matt, it is extremely important to reinvest either 5% of your gross revenue or 10% of your net into your own personal development. To simplify this process, Micah likes to have a separate account just for personal development. The reason being that it can quickly become unnecessarily confusing to differentiate business funds and other financial holdings--the process is made much simpler when everything is financially compartmentalized. They also talk about the importance of being a part of a mastermind--but with a caveat. Joining a mastermind should be done when all parties present have “skin in the game” and where the mastermind itself doesn’t become a full-time job.
Some other important topics discussed on the episode consist of not falling for the “next big thing” in marketing or the shiniest widget designed for flawless output; instead, focusing on what you know, on one particular modality, so as not to waste valuable time and energy or spread yourself thin in the industry. The point being that long-term plays are the most important. The truly valuable enterprises will ultimately take a long time to establish, but are invaluable to have implemented. Matt and Micah also echo Coach Joe’s sentiments on morning rituals before stressing once again the absolute importance of finding a financial coach.
Key Links
- The financial advising program that Matt references: Academy of Preferred Advisors
- Joe’s free program: PracticePower
- International Performance Group: Website
- Magellan MasterMind & Network: Page
Micah Shilanski’s coach for the better part of fifteen years, Joe Lukacs, is the guest of this episode. And within the time allotted, Joe disrupts the usual gamut of topics discussed for some interesting insights he has gained over the years. One of the first topics that he brings up is boredom. More specifically, how a coach can handle the boredom brought upon by holding too comfortable a position in the industry. As is common in most vocational positions, Joe knows just how detrimental a comfort zone can become for a coach. He says that human beings are happiest when we are in “expansion mode.” That is, we are challenging ourselves, learning, and overall expanding our repertoire. In short, to stave off boredom and to prevent a harmful mentality from developing, challenge yourself and challenge your clients. He says that as soon as one thinks they have figured something out is the first day they start to slide from any lofty position they may have held. Don’t hasten the backwards slide and don’t let yourself get bored.
Another crucial segment in this talk is when Coach Joe talks about the middle stage that all successful investors must move past to truly reach prosperity in their practice. He calls it the “pivot point to prosperity.” According to Joe, there are three different levels of being a financial advisor. The first being what he calls a “scarcity startup.” Essentially, this is the stage where advisors are paying the bills and keeping the lights on. The second, advisors are sustainable and abundant--this is the comfort zone and the most tempting stage to never pull one’s self out of. This is the stage that advisors need to pole vault out of to reach prosperity. And the last is where the magic happens, where the future is realized and plans of “what’s next?” become further cemented and realized. To get there though, failures mustn’t be avoided, but instead, encouraged; it is the crucial time to take risks and to avoid regrets of not having taken the chance to expand when the opportunity was there. And Joe encourages advisors to never stop chasing the next thing. Don’t be failure-phobic.
Lastly, Joe talks about the importance of surrounding yourself with a network (or tribe as Joe calls it) that inspires you, bolsters your practice, and ultimately reinforces beneficial mindsets of abundance for your personal development. Joining a mastermind is brought up as a strategy for obtaining all of this; meaning that deep, lasting friendships are developed as well as valuable support for your enterprise. This is one of the most important techniques for shifting your mindset from complacency to prosperity. Some other important action points are laid down by Joe, Micah, and Matt. These include, establishing a morning success ritual, reinvesting 5%-10% of your total revenue in yourself for the purpose of personal development, and last but not least, joining a mastermind group.
Key Links
- The ‘Sleep On It’ Jarvis Financial Process
- Carl Richards Book on the One-Page Financial Plan
Most financial planners thrive on helping people. In addition to having an affinity for numbers, many CFP’s share in common the desire to take in an innumerable amount of clients as a means for bringing more reassurance and financial security to the biggest pool of people as possible. Unfortunately though, there is only a finite amount of clients that one can possibly meet with. In addition, clients also have to bring in enough capital to sustain the entire practice. This means that tough decisions need to be made for the sustainability of the business itself. But how does one go about insulating one’s self from unprofitable clients or safeguard one’s time from borderline charitable acts instead of profit-driven endeavors? For managing and dealing with complicated circumstance like this, simplicity is key. Either refer unprofitable clients to other ventures who can help them or like guest Neil Rossiter implements in his own practice, send them to a junior advisor instead of another firm. Another way of looking at this is when Matthew states that he likes to give the analogy that some customers approach him looking for brain surgery instead of the heart surgery that his firm provides. And much like the many specialists who comprise the spectrum of the medical profession, so to the financial world is replete with specialists who have their own function. Matthew offers a simple solution to the problem.
In addition, this episode delves into the importance of streamlining the process from which clients can get ahold of the financial planner. Matthew states that instead of wasting time and being constantly interrupted, there is a simple but powerful solution for having too porous a barrier between client and advisor: what needs to be done is that unless in an emergency, the client will always be scheduled to talk to Matt or Neil usually by next day. And then once questioned if the nature of the call is administrative or financial advice, sometimes the admin can actually do the work and minimize the scheduled call from actually taking place. This strategy provides simplicity to what was potentially a convoluted process.
And last but not least, the one-page financial plan makes a reappearance for the sake of streamlining and simplicity. Matthew ends the episode by providing two action items: Don’t take incoming phone calls unless by emergency or appointment and start trying and practicing the Carl Richards, one-page financial plan that has been a staple of the Perfect RIA podcast.
To start this episode, Micah Shilanski provides a very valuable comparison between the mentalities of a shopkeeper and a CEO. He starts this way to illustrate the often erroneous assumption that many business owners make about the amount of time they should devote per day to their practice. Workdays start to become these open-to-close events that are very quantity-over-quality phenomenons. Instead, there is an incessant need to optimize days like a visionary or CEO would; doing things efficiently will ultimately transcend the quantity of hours spent. Micah also points out that having a shopkeeper mentality doesn’t make much sense because most financial advisors or business owners aren’t paid by the hour, but instead by result. Sure, if it takes you twelve hours on a given day to see the best results for your client, that might be true, but consistently overworking and creating busywork are bad habits to cultivate.
Matthew Jarvis then rides the momentum of this concept and admits an area in his own daily practice that isn’t very productive. He stresses that reading the Wall Street Journal makes him feel like he is busy, but the pressure to always feel busy is detrimental to the overall value of his practice. For the next hour, instead of spending time on bringing actual monetary value to his firm, he spends an hour reading opinion pieces in the Wall Street Journal. By his own admission, the time is perhaps wasted. To keep the ball rolling, Micah states that there should be an alarm system of sorts in place: a self-administered system of checks and balances that one can use to test if the time being spent is worth a thousand dollars an hour (or five hundred); and through that metric, personal accountability is possible and the value of your firm will only increase. And to keep themselves accountable to what they preach, both Micah and Matt use “forcing mechanisms”--a concept they have underlined in previous episodes as an accountability system and value-building mechanism that one forces oneself to stick to. The forcing mechanism that Matt uses is he looks at a picture of his wife and kids on his desk and asks himself if he could look his family in the eye and say something along the lines of: “Hey, I'm sorry I worked late tonight, but I really had to get the Wall Street Journal read.” These type of mechanisms really provide a positive framework for how valuable your workday can and should be.
Lastly, during the talk, Matthew accentuates four key things that advisors should do to save themselves from cultivating a shopkeeper mentality: (1) Eliminate pop-ups, alerts, distractions like email or anything that constantly pulls you away from the task you are focusing on.(2) Don’t waste time on guilty pleasures: things like social media or games that you find yourself gravitating towards at all times of the day. (3) Implement a backup plan just in case clients cancel or time is freed up in another way; this way time is always spent productively and with purpose, instead of aimlessly. (4) Lastly, train your employees and clients that you are not available at all times of the day, but only in designated slots. And a bonus thing to consider is to have a clean desk policy to minimize all paperwork that accumulates and to clear your headspace.
Key links
- Episode 2 (featuring Gina Cotner) of The Perfect RIA
- Gina Cotner’s website for virtual assistants: Athena Executive Services
- The financial advising program that Matt was enrolled in: Academy of Preferred Advisors
- The two books referenced in this episode: The Tipping Point by Malcolm Gladwell & The 4-Hour Workweek by Timothy Ferriss
- Matthew Jarvis’s prospecting process
If you are currently successful, so-so, struggling, in a down quarter, thinking about quitting or unsure of where to turn regarding your practice, Matthew Jarvis has some valuable advice to give. In this episode, he explains to fellow advisor Adam Hersh that there are a few important concepts necessary for elevating your practice to its optimal level. This is done by centering your focus on time blocking, prospecting, defining a clear client-service model, and staffing.
Because of his six years spent with Tom Gau and Ken Unger’s coaching program, The Academy of Preferred Financial Advisors (APFA), Matthew learned a lot and transposed those ideas to fit his own practice. He explains that the concepts he learned while in that program helped him work with retirees, gave him ideas for how to naturally increase his network, which in turn led to robust opportunities for prospecting new clients. Also, Matthew gives Adam some good advice on prospecting potential clients and expanding his network when he suggests that he teach free college classes at the community college. The reason for this being that those who attend a three hour lecture (one with an overabundance of information) are bound to come up and ask questions after the lecture--which is a perfect icebreaker for generating a new client. Matthew also explains the importance of being a young financial advisor and being able to assure clients that you are there for the long haul, that you won’t be retiring before them. He also talks a little about delegation, and how Adam should hire a virtual assistant to do some of the non-value tasks (like paperwork) that he spends so much time on. Referring back to the second episode of The Perfect RIA, he recommends Gina Cotner’s platform: Athena Executive Services as an invaluable resource for this.
Finishing up his talk, he has five key takeaways that one can utilize for generating a more valuable practice: These are as follows:
- Ideally, designate a day of the week which is proactively spent on just working on your business. For example, you could make this a Monday, where the phones are off the hook, and you are proactively working to generate more value for your practice.
- Pick five non-value tasks to delegate or eliminate.
- Read Malcolm Gladwell’s book The Tipping Point
- Read or reread Tim Ferriss’s book The 4-Hour Workweek
- Remind yourself that doing is the key to all success, and just knowing is not enough.
Key Links
- Math Diagram
As the title states, this episode is all about determining a fee schedule for clients—that is, what a fair rate to charge clients for services rendered should be. Instead of making it complicated, both Matt and Micah stress over and over again that simplicity is key when it comes to your fee.
Also, just as important as simplicity, is the cost-value structure that you set up. This isn’t as complicated as it seems. What is meant by cost-value structure is determined by what your goals are. If you have ambitions to keep growing your firm’s revenue or assets, then keeping your prices high enough to meet that goal means that your cost-value structure has been correctly formulated.
Lastly, Matt and Micah talk about raising rates and how much the process varies over time. But one should never negotiate prices. Staying fixed, usually only rising and never falling in price, conveys that you will only keep growing. Not having a business plan and negotiating too much means that people will not take you as seriously. And that hurts your reputation and potential revenue. Do not let this happen.
Key Links
- Book Referenced by Matt and Micah: Selling the Invisible
“It takes 20 years to build a reputation and five minutes to ruin it.”
This quote from Warren Buffet frames the whole episode. And by using this as a tool for showing just how important reputation can be, hosts Matthew Jarvis and Micah Shilanski chronicle the instances in their lives where reputation has generated large ripples in one way or another.
Be it, a firm tarnishes their own reputation because of charging money for “services rendered,” even though the “services” they rendered were certainly of a negative quality. Or, a treasurer for a church suffers the embarrassment of a check bouncing because of a mistake from Matt’s firm. Whatever the circumstances, both Micah and Matt cut through the noise and simplify everything with four words: “Take the high road.”
And it is through these four words that almost everything is made simple. By taking accountability and offering to pay penalties, or giving a client their money back because they were unsatisfied with the services provided, you keep your reputation intact. And because word of mouth travels fast, you may lose some money in the short term, but the positive reputation you gain is much more valuable.
Key Links
- John Barron’s LinkedIn profile
In this episode, John Barron shares the importance of replacing old systems with new ones. Most business owners take a plateau personally or as a sign of having mismanaged their business, but Barron says this is not true. The culprit is often that there are systems in place that are not consistent—somewhere along the way, X stopped being X and became Y instead, even though what was really needed all along was Z. Or as Barron says, “a Toyota factory can’t produce a giraffe.”
Perspectives are just as important as systems because if you are an entrepreneur who has been “down in the weeds,” and you are suffering from tunnel vision because of it, often you need an outside agent to provide a more balanced viewpoint; a coach can help one obtain this crucial vantage point.
Procrastination can also be just as powerful a tool as well. As Matthew, the host of the podcast shares in this episode, he works more efficiently when a deadline looms near. Putting things off to the last minute actually helps him get work done at a faster rate.
Key Links
- Carl Richard’s Website
- Malcolm Gladwell book which profiles Tom Gau: The Tipping Point
During the episode, host Matthew Jarvis supplies us with nine crucial rules to follow regardless of if you are an advisor, CPA, actuary, or if you are just concerned with imparting understanding and reassurance in the minds of clients. These nine rules range from the necessity of practice to the headache-inducing method of trying to shrink a whole financial plan onto a single page.
Using the metaphor of speaking a foreign language to someone who doesn’t know the tongue, Matt communicates just how difficult it is for common people to understand the financial and legal nomenclature so easily referenced during consultations and financial-advising meetings with clients. He gives the advice to simplify speech, not as a tool for talking down or belittling the client, but to cover all bases during the consultation. One wouldn’t talk down to an English-speaking tourist vacationing in China for not knowing a wide range of Mandarin.
Matt also draws from a lot of biographical experiences where he was forced to act as a translator because the financial experts who were involved had a hard time self-censoring the depth of the language they used. In other words, it is very easy for smart, technically-gifted people to have a hard time not using their specialized jargon—terms that would confuse the average person (of any levels of education). Matt says this confusion should not be there, and he teaches listeners of this episode how to prevent most language barriers from forming.
Key Links
- Athena Executive Services | Website | Facebook Page
In this installment of the Perfect RIA podcast, CEO and Founder of Athena Executive Services joins us in the studio and shares her wisdom on why hiring an executive assistant can and should be an enriching and ultimately game-changing decision in one’s professional life. By giving clear-cut examples in her interview, Gina establishes the importance of “inspecting instead of expecting” results from your executive assistant. In brief, when an executive has done their due diligence and inspected adequately, then proper delegation of tasks is possible.
Gina states that once the appropriate amount of time has elapsed, and any learning curves have been superseded with mutual understanding, the investment made in an executive assistant (or a virtual executive assistant) is worth the initial time it takes to get on the same page.
And to design the correct dynamic between executive and assistant, an executive needs to truly inspect the work that is done. This means that guidelines need to be expressed clearly, and tasks explained properly. Once the input and output coalesce into a coherent whole, a very streamlined process is the outcome. And as a result, you have successfully created a mechanism that enhances the value of your enterprise and your time.
There's more to life than AUM -- assets under management -- to understanding the success of you and your firm. Listen in to learn more.
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