The Evolving Advisor Podcast

Are you ready to take your financial advisory practice to new heights? Welcome to the Evolving Advisor Podcast, where independent financial advisors get the tools, insights, and knowledge they need to excel in business and life. Join host Jeff Concepcion as he leverages over 30 years of industry experience to guide you on a journey of growth and transformation. In this episode, Jeff is joined by two remarkable guests and partners at Stratos Wealth Partners, Elizabeth Mahoney and Micah Kelley, who share their invaluable experiences in building and leading high-performing teams. Tune in to hear Elizabeth Mahoney, Co-President of EverVest, and Micah Kelley, President of Kelley Financial Group, discuss their journey from solo practitioners to leaders of thriving, multi-member teams. Gain practical insights on team building, client relationships, and the strategic investments that drive growth. Key Topics Covered: - Elizabeth Mahoney's Journey: From a sole practitioner to leading a team of ten. Discover how she transitioned from a small practice to a robust, growing business. - Micah Kelley's Path: Learn about Micah's experience growing Kelley Financial Group from a modest start to managing over $700 million in assets. - Team Building: Strategies for assembling and expanding a team, including the roles and functions essential for a thriving practice. - Community Involvement: The impact of community engagement and organizations like Rotary on professional growth and personal fulfillment. - Ownership Mindset: How transitioning to a partner role changes your perspective and drives business decisions. Reinvestment Strategies: The importance of reinvesting in your business and your people for long-term success. - Insourcing vs. Outsourcing: Balancing in-house expertise with external support to maximize efficiency and growth. - Servant Leadership: Leading by example and prioritizing the well-being of your team and clients to achieve collective success. Practical Benefits: - Inspiration and Motivation: Hear real-life stories of success and the challenges overcome by industry leaders. - Expert Insights: Gain actionable advice on team building, client relationships, and strategic investments. - Practical Advice: Learn about the benefits of reinvesting in your business and strategies for sustainable growth. This episode is packed with insights that can help you elevate your practice. Whether you're looking to expand your team, deepen client relationships, or make strategic investments, Elizabeth and Micah's experiences offer a wealth of knowledge. Tune in to discover how you can evolve from where you are today to where you want to be tomorrow. Don't miss out—subscribe now and start your journey with the Evolving Advisor Podcast!

Welcome to the Evolving Advisor Podcast! In this episode, host Jeff Concepcion dives deep into the power of storytelling for financial advisors with special guest Jeff Bartsch, founder of Story Greenlight. Together, they explore how advisors can refine and package their unique stories to build stronger connections, enhance client trust, and take their businesses to new heights. Key Points:Importance of human connection and storytelling in wealth management.Jeff Bartsch's journey from Hollywood to coaching executives and advisors.Understanding the principles of connectivity and human insight.The crossover between communication strategies in Hollywood and wealth management.The power of story in transforming client interactions and driving business growth.Steps for advisors to identify their ideal client and articulate their story effectively.Strategies for refining and packaging your advisor story for maximum impact.Building trust through shared values and personalized storytelling.Invitation for a free coaching consultation for podcast listeners. Benefits for Listeners:Gain insights into the psychology of storytelling and its impact on client relationships.Learn practical steps to refine your advisor story and connect more deeply with clients.Discover strategies to build trust, attract ideal clients, and elevate your business.Access a free coaching consultation to personalize these concepts for your practice. We'd love to hear your thoughts and questions about crafting your advisor story and building stronger client connections. Share your insights and reach out for a free coaching consultation by visiting Story Greenlight. Join us on this journey of evolving as financial advisors!

Welcome to the Evolving Advisor podcast, where we delve into the dynamic world of wealth management and financial advisory services. In this episode, we're thrilled to have Rob Nelson, CEO and founder of NorthRock, join us. Rob brings nearly three decades of industry experience and leadership, offering unique insights into the evolving landscape of wealth management. Rob shares his journey and insights into how NorthRock has redefined traditional wealth management by bridging the gap between conventional practices and the family office approach. Key topics covered include: - The development of NorthRock's "personal office experience" for clients - Tailoring bespoke services for entrepreneurs, athletes, corporate executives, and multi-generational families - Evolution of NorthRock's service model and the transition from financial advice to holistic advisory support - Responding to client needs and pain points to expand service offerings - The origins of NorthRock's unique approach to wealth management - Responding to client needs: From investment management to comprehensive advisory services - Integrating property and casualty services within the advisory framework - Balancing external partnerships with internal capabilities to enhance client experiences - The future of wealth management: Navigating complexity and expanding service offerings - Strategies for advisors to evolve and remain relevant in a changing industry landscape Join us as we explore the transformation of wealth management and uncover actionable strategies for advisors to navigate the evolving landscape. Tune in to gain insights, inspiration, and practical advice from industry leaders like Rob Nelson. Don't miss out on this enlightening episode of the Evolving Advisor podcast! Connect with Jeffrey Concepcion: Website: https://www.stratoswealthpartners.com Contact: https://www.stratoswealthpartners.com/contact Twitter: https://twitter.com/Stratos_Wealth Facebook: https://www.facebook.com/stratoswealthpartners LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff, Lou, and Jeff discuss: Running a successful private practice to launching a national brand. Reasons for going independent. Creating the vision and keeping the local flavor of your firm. Building a great team with next-generation talent. Key Takeaways: Think big! When you achieve your goals, think about what is next and set your next goal. Working with a coach can better assist you in your transition from being an advisor to being a CEO and running an organization. Look ahead, don’t focus on the past. Don’t hold attachment to the sunk costs that aren’t working for you any longer. As a financial guide, you need to know your clients, the financial landscape, where they want to go, and the timeline they want to get there. Harness the power of collaboration and team, delegate everything that someone else does better than you. Put the right people in the right seats, let them do their thing, and you will be amazed at what happens. "The clients don’t care about the name - they care about the service they are getting." — Jeff Brown Connect with Jeff Brown: Website: https://stratosprivatewealth.com/ LinkedIn: https://www.linkedin.com/in/jeff-brown-15349b/ Connect with Lou Camacho: Twitter:https://twitter.com/loucamachoswa Website: https://www.stratoswealthpartners.com LinkedIn:https://www.linkedin.com/in/loucamacho Connect with Jeffrey Concepcion: Website: https://www.stratoswealthpartners.com Contact: https://www.stratoswealthpartners.com/contact Twitter: https://twitter.com/Stratos_Wealth Facebook: https://www.facebook.com/stratoswealthpartners LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Greg discuss: The evolution of FactSet and how it is still assisting financial advisors. Changing technology and AI in the financial advising industry. Techstack choices, flexibility, and integration. How to become a best-in-class advisor from a tech perspective. Key Takeaways: Ask “Will this product help our clients solve a problem in their daily lives?” If you can answer yes to that question, looking into the product as an investment or service add for your firm could be worth it. Focus on your client experience and you can’t go wrong. As your firm grows, you will need different things for your clients and advisors. Looking for tech that will integrate with each other can help you scale more easily and effectively. Use the client feedback as a guide for how you’re going to evolve your tech stack in the future. "Focus on the end client, that should give you the answers they need about where you're headed. Concentrate on what they're telling you about how they're using services in the industry, and really use that client feedback as a guide toward how you build your technology stack." —  Greg King Connect with Greg King: Website: https://insight.factset.com/ LinkedIn: https://www.linkedin.com/in/greg-king-b650b33/ Connect with Jeffrey Concepcion: Website: https://www.stratoswealthpartners.com Contact: https://www.stratoswealthpartners.com/contact Twitter: https://twitter.com/Stratos_Wealth Facebook: https://www.facebook.com/stratoswealthpartners LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Aaron discuss: How conservative, moderate, and aggressive mean different things in different industries (and how they need to be described for financial advising). Persistence and pivoting when things don’t go as planned. Building a company and rebranding to better fit the mission. Best practices for financial advisors. Key Takeaways: The client needs to be in the role of the hero - the financial advisor needs to be the Obi-Wan Kenobi to your client’s Luke Skywalker. Understand how the value driver can apply to what your customers want and need. Build your firm with an eye towards the future, whatever that looks like for you. Make sure your firm is growing, no matter what the market is doing. The impact of the market should not be the only thing growing your firm. "Growth is the lifeblood of businesses. If we're not being real with ourselves about how we're growing, excluding market impact, I think we're gonna be in trouble as advisory businesses." —  Aaron Klein Connect with Aaron Klein: Website: https://nitrogenwealth.com/ LinkedIn: https://www.linkedin.com/in/aaronklein/ Twitter: https://twitter.com/AaronKlein Twitter: https://twitter.com/NitrogenWealth Connect with Jeffrey Concepcion: Website: https://www.stratoswealthpartners.com Contact: https://www.stratoswealthpartners.com/contact Twitter: https://twitter.com/Stratos_Wealth Facebook: https://www.facebook.com/stratoswealthpartners LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Matt discuss: The inner dynamics of working with family to build a great firm. Adopting technology for a better firm. Understanding the ROI of technology and innovation. The generational shift in wealth and in people. Finding your why and getting your message distributed. Key Takeaways: The mentality needed around new technology is actually changing the mentality around change and failure. Most new tech does not work immediately for you out of the box - you need to be prepared and ready for that. You need to put money on the intangible things that technology assists with to fully understand the true ROI of your technology investments. Creating efficiencies is the only way to increase your time building and maintaining relationships. "We're not only changing the mentality but also changing where we're looking at innovation. We're not just looking inside of our industry, we're using other industries to teach us and inspire us on what's possible inside of our industry." —  Matt Reiner Connect with Matt Reiner: Website: https://www.mattreiner.com/ Website: https://www.yourwealth.com/  YouTube: https://www.youtube.com/channel/UCrca3m7ryDjzNrGs0rDzZFQ Twitter: https://twitter.com/mattreiner LinkedIn: https://www.linkedin.com/in/matt-reiner-cfa-cfp%C2%AE-35159216/ \ The Circle: https://the-circle.beehiiv.com/subscribe Connect with Jeffrey Concepcion: Website: https://www.stratoswealthpartners.com Contact: https://www.stratoswealthpartners.com/contact Twitter: https://twitter.com/Stratos_Wealth Facebook: https://www.facebook.com/stratoswealthpartners LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Claudio discuss: Listening and watching for your client's needs. Building a team to serve and growing through the generations. Creating a pathway to ownership. Unique investment opportunities within your advising firm. Key Takeaways: Consider making decisions in a committee to best serve your clients and invest in the best options.  In order to build the best enduring firm, you need to train and build the second generation in a way that will make everyone feel like a partner. If nobody manages an account alone, you allow others to learn and grow from the senior partners while also sharing the talents and ideas of the junior partners. The US has the most accurate market for transacting in real estate investment properties in the world with the necessary legal protection you need with a tenant. "In order for the company to endure, we need to build the second generation." —  Claudio Núñez Sanchez de la Barquera Connect with Claudio Núñez Sanchez de la Barquera: Website: https://nscasesores.com/ Connect with Jeffrey Concepcion: Website: https://www.stratoswealthpartners.com Contact: https://www.stratoswealthpartners.com/contact Twitter: https://twitter.com/Stratos_Wealth Facebook: https://www.facebook.com/stratoswealthpartners LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Brian discuss: The employment landscape in financial advising. Escaping a captive work model. The biggest benefits and risks in transitioning out of a firm. Managing compliance. Key Takeaways: There is no indentured servitude. Anyone in a captive work model is able to leave, but you need to understand the risks and plan accordingly. States and firms will vary on what is allowed during an exit or transition. Have a plan and stick to that plan. People are the greatest risk to a plan because they are likely to deviate from those solid plans. You need someone objective to look at your business to avoid conflict of interest and close the risk gaps. "As transitions get larger and more complex with more people involved, it's really important to ensure that everyone is operating in lockstep and in alignment with one another because the success or failure of these transitions is often determined by the weakest link." —  Brian Hamburger Connect with Brian Hamburger: Website: https://marketcounsel.com/ Website: https://hamburgerlaw.com/ Website: https://about.me/hdelux LinkedIn: https://www.linkedin.com/in/hamburger/ Twitter: https://twitter.com/HDelux Twitter: https://twitter.com/MarketCounsel Connect with Jeffrey Concepcion: Website: https://www.stratoswealthpartners.com Contact: https://www.stratoswealthpartners.com/contact Twitter: https://twitter.com/Stratos_Wealth Facebook: https://www.facebook.com/stratoswealthpartners LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Joe discuss: Joe’s professional journey in financial wealth management on both sides of the Atlantic. Building a financial advising firm with a mission and clarity of purpose. Utilizing resources to help going independent that were not available 20 years ago. Building reciprocal relationships with your clients and partners. Key Takeaways: Understand your goal and the ultimate purpose of your firm. Use your skills to better the lives of others and solve the pain that they are having. The less we seek success and wealth, the more we actually find success and wealth because people have a radar and they can sense sincerity, mission, and intention. Give off your time if you can help without expecting anything in return. If you’re not offending someone - being thoughtfully provocative - you’re likely not speaking from the heart and with true candor. "I never looked at this as a small company, even when we were zero. I always built the company with the intention of building a platform to help others. Whether it's me or whether it's other people, I wanted to build a system that would allow for providing solutions to others to alleviate that stress and anxiety around finance and investment." —  Joe Cardello Connect with Joe Cardello: Website: https://www.augustwealthadvisors.com/ Facebook: https://www.facebook.com/AugustWealthAdvisors/ Connect with Jeffrey Concepcion: Website: https://www.stratoswealthpartners.com Contact: https://www.stratoswealthpartners.com/contact Twitter: https://twitter.com/Stratos_Wealth Facebook: https://www.facebook.com/stratoswealthpartners LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/