Kitces and Carl - Real Talk for Real Financial Advisors: Recent Episodes
Michael Kitces, MSFS, MTAX, CFP and Carl Richards, CFP
A no-holds barred conversation for Real Financial Advisors with industry nerd Michael Kitces and client communication expert Carl Richards. One draws with a Sharpie, the other nerds out with spreadsheets, and both provide you with unique perspectives so that you can more effectively communicate with and serve your clients, run a more fulfilling practice, and maintain a healthier lifestyle.
In the 196th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss the role of "gut feelings" and intuition in decision-making after the data has been fully analyzed.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 195th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how to strike the right balance between proactive and reactive client communication.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 194th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss the ongoing debate surrounding fear-based marketing tactics.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 193rd episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss the challenge of motivating clients to take difficult but necessary action toward their goals.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 192nd episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how advisors can stay creative without losing sight of the business side of things.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 191st episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how to navigate working with couples when one partner is checked out.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 190th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how artificial intelligence could reshape the industry—and why one possible outcome may not be as appealing as it seems.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 189th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how to support and guide clients when things feel uncertain.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 188th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss what steps advisors can begin taking today to position themselves for a successful sale in the future.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 187th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss the safeguards firms can put in place to protect themselves from legal risk, especially as they grow.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 186th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss effective ways to convey the real value of financial planning so it genuinely resonates with clients.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 185th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss what clients truly value in their relationships with financial advisors.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 184th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how artificial intelligence has made content marketing simultaneously more accessible and more challenging than ever.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 183rd episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss whether it's more effective to give clients clear, step-by-step guidance or empower them to become the heroes of their own stories.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 182nd episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss the happiest time in an advisor's career—and how that may be fueling the industry's succession planning gap.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 181st episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how to thoughtfully address client fears and uncertainties about the rapidly evolving AI landscape.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 180th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss the four sources of capital—and how the way you use them reveals your true priorities versus your stated ones.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 179th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss the common angst advisors feel about the idea of their associate advisors eventually leaving to build teams of their own.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 178th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss why many retirees struggle to spend the money they spent a lifetime saving—and how advisors can help.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 177th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss why learning to say "no" can be game-changing—and how to do it without all the guilt.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 176th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how to support clients who need financial guidance but can't afford traditional advisory fees.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 175th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how sketches can spark more meaningful money conversations.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 174th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss what they’d say if they could talk directly to money—and what money might say back.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 173rd episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how to handle receiving the "soft no" after meeting with a client who seems like a great fit.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 172nd episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss what research reveals as the key driver of productivity among financial advisors.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 171st episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss advisor burnout—and the hidden culprit that could be fueling it.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 170th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how financial advisors can help clients navigate career uncertainty caused by AI disruption by focusing on actionable items, offering flexibility vs long-term growth, and being more proactive in planning strategies.
For full show notes, see kitces.com and thesocietyofadvice.com.
In the 169th episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards explore how AI is set to transform the roles advisors play and the unique value they provide in client relationships.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 168th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether it’s more effective to dive deep in the first client meeting or to focus on the immediate issue and reserve the more emotional conversations for future sessions.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 167th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the complex emotions money can stir up—and how a client’s level of wealth can shape an advisor’s happiness in their own life.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 166th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to help clients unlearn unhelpful lessons and shift from relying on luck-based decisions to making strategic, informed choices.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 165th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards explore strategies for breaking down complex ideas into clear, simple explanations that clients can easily grasp.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 164th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to strike the right balance between technical accuracy and clear, client-friendly communication.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 163rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to handle when clients not only ignore advice but actively push back against it.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 162nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how a virtual assistant can support management responsibilities—and how to identify what tasks are worth delegating in the first place.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 161st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how they navigate others' opinions on their projects—and the strategies they use to invite feedback in the first place.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 160th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what advisors can do to keep clients from panicking—and making poor financial decisions—during market volatility.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 159th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what to do when your original fees no longer make financial sense—but you promised to honor them for some clients.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 158th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the reasoning behind not allowing clients—even excited ones—to sign up the day of their first meeting.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 157th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss tactics for reducing the worry that can arise for people when meeting with a financial advisor for the first time.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 156th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how they're using ChatGPT in their own work and share their thoughts on the future of AI in financial advising.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 155th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss a common pitfall among advisors, and what you should consider to make sure you're actually adding value—not just wasting time.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 154th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss technology and AI's role in the future of financial advice.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 153rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what to do when legacy clients start to hurt profitability down the line.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 152nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss surprising data from recent research on the different ways advisors charge fees.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 151st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what often stands in the way of delegating tasks—and what you can do to avoid common sticking points.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 150th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how the scarcity mentality many new advisors experience when just starting out can negatively affect their career down the road—and how to avoid this common trap.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 149th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss why having friends in the trenches with you as you launch your own firm might be more valuable than having a business partner.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 148th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the mindset shift that can help when you're scared to take the next step toward your goals.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 147th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what advisors can do to prepare for the next market downturn.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 146th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to handle when clients try to educate themselves about finance online—but come away with misinformation.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 145th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how advisors can communicate their planning style in their marketing before investing time in client meetings that may or may not lead to long-term engagement.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 144th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how fast growth can get in the way of working "lifestyle" hours—and what to do about it.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 143rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards explore how next-gen advisors can navigate transitioning clients accustomed to a quantitative approach to financial planning.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 142nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss impactful questions to ask clients in order to create deeper conversations and deeper connections.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 141st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the powerful questions to ask clients in order to create impactful conversations about money.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 140th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what's likely behind the common problem of advisors prematurely worrying about scale.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 139th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to know when you offer "enough" value to clients that it's no longer necessary to keep doing and learning more.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 138th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to optimize your time by identifying what you consistently do—and would love to stop doing.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 137th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to know when it's time to start saying no.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 136th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what to consider for succession plans as more advisors approach the age of retirement.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 135th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether or not professional advisors should be expected to create career opportunities for up-and-coming advisors.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 134th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what to do once a client achieves their financial goals—and doesn't seem to realize it.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 133rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss money, meaning, and what it's all for.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 132nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the best way for advisors to get the word out about their services.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 131st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss setting goals—and the "why" behind doing so.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 130th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the advisor mindset that leads to more happiness.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 129th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the results of their recent study on advisor well-being.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 128th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss a key difference in perspective when it comes to spending money.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 127th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss Carl's exciting new project.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 126th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether it makes more sense to focus on increasing productivity or to simply increase your fees.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 125th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what it really means to scale.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 124th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to handle when clients no longer fit your specialization.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 123rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether all advisors choosing a niche results in some potential clients being left out of receiving financial advice.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 122nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to guide client decisions that aren't about wealth maximization.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 121st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether self-promotion is essential for advisors.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 120th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the recurring myth that small RIAs are doomed due to scaling challenges.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 119th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to get an older advisor (who isn't as engaged in growing the business anymore) to let go and retire.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 118th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether you hang onto being a financial advisor even when you're no longer taking clients.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 117th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what it looks like when you're done growing the business.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 116th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to feel (or help other advisors feel) more confident talking to clients.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 115th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to set pricing in order to run a viable practice.
For full show notes, see kitces.com and thesocietyofadvice.com.
For many financial advisors, keeping an open line of communication with clients is a key component of building trust, understanding the client’s values, and developing a meaningful plan to help them reach their financial goals.
In our 114th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss ways for financial advisors to talk to clients tempted by promises of higher returns from other financial professionals, how they can ensure that all clients stay focused on the goals their financial plans were created to help them achieve, and why it’s so important to remind clients of their actual value.
For full show notes, see kitces.com and thesocietyofadvice.com.
While advancing a career in any industry can be challenging, the lack of formal career development programs offered in the workplace for associate advisors can make it particularly difficult for them to gain the experience they need to become lead financial advisors.
In our 113th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what it means to be a lead advisor, the paths associate advisors can take to advance into a lead advisor role, and how to communicate career growth goals with senior advisors.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 112th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards talk about what it looks like when you have to let go of an employee.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 111th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards talk about when to hire—and why.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 110th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards talk about the idea that advisors should dress a certain way for credibility.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 109th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards talk about how advisors live their lives—and what clients think about it.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 108th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards talk about marketing yourself by letting people know what you stand for.
For full show notes, see kitces.com and thesocietyofadvice.com.
In our 107th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss ways for advisors to find new ideas, the process of narrowing down their options and choosing the best ones, and how advisors can vet and test the viability of their ideas before implementing them on a larger scale.
For more, see https://www.kitces.com/blog/annual-strategic-planning-new-ideas-inspiration-implementation-business-goals/ and https://www.thesocietyofadvice.com/.
In our 20th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards discuss why a fiduciary rule is necessary even though acting in your client’s best interests is already “good business” in the long run, how real financial advisors are at a competitive disadvantage against those who really are just out to make the next buck as quickly as possible, and how advisors have a duty to spread the word about what it means to be a fiduciary.
In our 19th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards talk about these conflicts of interest, and the dilemma that financial advisors face when determining where to draw the line between a ‘manageable’ conflict of interest and one that is ‘unmanageable.’
In our 18th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards extend their last podcast and look at communication strategies advisors can use to set the stage for helping clients actually make better decisions after ‘talking them off the ledge’, using a three-part pyramid framework: the Plan, at the foundation of the pyramid (representing the financial plan itself that was developed around the client’s personal values and goals); the Process, in the middle (i.e., the method whereby an advisor helps their client determine how those values and goals will become reality); and the Product, at the top of the pyramid (which are the tools that were chosen but that are now the focus of the client’s fears and anxieties).
In our 17th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards talk about the importance (and challenges) of responding with empathy to clients who are upset or afraid. Because even though research in behavioral finance has helped us better understand the natural human proclivity to make irrational decisions, especially in times of stress and fear, the objectivity with which these paradigms have been created has perhaps unwittingly made it too easy for advisors to judge their clients for their impulsiveness, and subsequently become dismissive of what are normal and understandable reactions to stress. And while it is an advisor’s job to help their clients make good decisions, the real challenge is figuring out how to do so with kindness and empathy, and without behaving smugly with a sometimes-hard-to-resist “I told you so” attitude.
In our sixteenth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards explore different ways advisors can frame their conversations with clients when helping them envision and plan for a retirement they can actually look forward to, how to integrate relevant “what if” scenarios for a client that can help them truly understand the range of options available that they may not have otherwise thought possible, and practical ways to ask questions in a way that probes what clients love to do, what excites them, and what brings them joy – which, in turn, can spark retirement ideas that they will be truly motivated to pursue.
In our 15th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss the value of really listening to clients, and how, by simply talking less and listening more in client meetings, an advisor can improve the chances that a client will stick to their plan.
In our 14th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards explore the various functions that a physical financial plan deliverable plays in the financial planning (and client relationship trust-building) process, share their viewpoints on how written financial plans can be used effectively to help clients, and discuss what ultimately matters most for clients, regardless of whether their financial plan is one page or requires a 2” binder and color-coded tabs.
So, in our (lucky) 13th episode, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss why it’s important to send regular commentary, provide a specific example of an easy and effective way to let clients know that you are thinking about them and their challenges, and why it matters so much that it ultimately comes from you (versus any number of white-labeled, off-the-shelf offerings).
For our 12th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss if sending market commentary to clients actually helps solve any problems (or if it’s just a relic of a product-centric industry), what sorts of clients benefit the most from proactive communication (and why), and ultimately, why sending investment market commentary to clients may be a good thing to do… even if the majority of your clients never even read it!
In our eleventh episode of “Kitces & Carl”, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss the roots of various industry titles, why you might want to break the mold and call yourself something completely different (or not), and why the choice ultimately boils down to whether or not what you call yourself resonates with your target clientele.
In our tenth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss some reasons you may need to start transitioning long-standing clients (some of whom may have given you a shot early on when no one else would, but consequently pay you far less than what it takes to service them) to make room so you can help others, some practical steps for communicating such a transition to those clients, and why arguably it’s your duty to do so… in order to ensure that all of your clients are getting the level of service they deserve.
In our ninth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss why some advisors wind up being unhappy in an otherwise “successful” practice, how some advisors have maximized their happiness by being intentional about building their business the way they want - or even “right-sizing” the advisory practice if necessary – and a few actionable ideas for advisors to do the same.
In our eighth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss how financial advisors are spending their time, strategies that can help advisors focus more on what they’re best at… and what might be accomplished by increasing your business (and personal) efficiency in the first place.
In our seventh episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to debunk some long-standing myths around what it really means to be a “credible” financial advisor, why authentically owning up to your personal financial mistakes actually helps build trust and credibility (and might even end up helping you gain new clients), and why being relatable as a human being (who makes mistakes from time to time) may be one of the more important traits you can bring to the table as a financial advisor.
In our sixth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss proactive steps advisors can take to prepare themselves to deal with and manage the stresses inherent in being a financial planning professional, some common but less-well-known sources of advisor stress, and how a subtle shift in mindset can help advisors make self-care a priority.
In our fifth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of whether advisors should even bother trying to communicate the value they provide when helping clients manage their “behavior gap”, why attempting to convince prospects that you can help them manage their behaviors is perhaps an uphill battle, and how maybe the best way to overcome the behavior gap (and the perceived value of getting help with the behavior gap) is by shifting a client’s perspective altogether.
In our fourth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of the extent to which financial advisors should or “have to” participate in social media (or not), why it might be a worthwhile endeavor if done correctly, some ideas that advisors can use immediately to get more out of their social media efforts, and why, ultimately, using social media successfully is ultimately about a series of “micro interactions” to better connect with other individuals.
In our third episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of how important it is to be “likeable” as a financial advisor, why being your “authentic self” when it comes to communicating and interacting with clients might matter more, and why it’s important for newer advisors to avoid sending mixed signals to clients when trying to differentiate themselves.
In our second episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of establishing a price for your financial planning services, why many advisors feel such anxiety over setting (and sticking to) their pricing model, the ways in which advisors can communicate their value to prospects and clients to justify their price, and why, many times, problems around pricing are really the result of our own inward confidence problems.
Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss industry topics from their own unique perspectives. And in this inaugural episode, Michael and Carl talk about the Value of Financial Advice, efforts to quantify that value, and why we may need to move past the asset-based model in order to define and communicate the real value of financial planning to our clients and the public in general.