The Profitable Advisor Podcast

We were talking with an advisor who's in our program recently and the topic of assets under management came up because he felt stuck on a rather modest number. So it got us thinking about this issue and what keeps an advisor from the growth that they want to see. It's not your marketing that's driving whether you have a lot of AUM or annuity sales. It's you who drives and we'll explain why that is on the show.  Here's some of what you'll learn on this episode: Why you get what your business is set up to get. (2:06) Your client doesn't care about products. They want solutions. (2:58) An example of an advisor who shifted to stocks and bonds over annuities and insurance. (3:45) Why YOU drive your business, not your customer or marketing. (6:19) Making the transition in your business to improve lifestyle. (8:37)   Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net 

Wanted to do everything he could on his bucket list during his 60s because he didn't think he'd have the energy and ability to do as much in his 70s based on what he had seen from family and friends.  This is why we like to push advisors to build their business in an entrepreneurial way so that the day-to-day still rolls along while you get a chance to enjoy your life and check off some of these items.  Now, as we talk about ways to build the business, we want to shift our focus now to live events as a marketing tool. With the world going back to a relatively normal routine after the pandemic shutdowns and slowdowns, the opportunity to get back in front of people is front and center again.  We have put together a list of eight rules, that if you follow, will make you a very successful marketer when it comes to live events. In this episode, we'll share a few of them with you and explain why they work.  If you want to get all eight rules, subscribe to our newsletter and we'll send them out to you this month.    Today's Key Points: 0:39 - What a client told us years ago that still resonates 1:37 - Dan's 'bucket list' goals 3:58 - Post-pandemic marketing 6:41 - Create your own list of prospects 9:56 - Ways to build your list 14:24 - Always charge to attend your workshop  17:15 - Be honest 18:58 - Final thoughts   Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net 

Have you ever had someone show up at your office to get your advice? They might even be willing to pay for advice. But that same person isn't willing to let you manage their money because they feel like it's something they can tackle on their own.  If you haven't experienced this yet, you likely will soon because it's becoming more common. With more and more information available, it has become easier to do on your own so it's important that advisors adjust to these changes happening in the financial world.  So how do you remain profitable by only providing advice? The key to long-term profitability is recurring revenue, but how do you do that if you aren't managing investments?  Let's explore this question and discuss the optimal service to provide these prospects.    Today's Key Points: 1:58 - Adjusting to the changes in the world 4:08 - What's the optimal service? 5:33 - The fee charged 7:57 - The planning process and expectations 11:34 - Providing value every quarter   Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net  

Nearly every investor has some amount of exsposure to the stock market, and that likely means clients have questions when things start to drag. That's to be expected in this current investing environment so what should you be telling people that want to know how to react? On this episode of the Profitable Advisor, Dan will tell you how he approaches the conversation with clients and what key points he likes to get across to those that are worried. If history is any guide, we'll find our ways to navigate these choppy waters. We always have and we always will, but that doesn't mean there's not some pain and discomfort along the way. The number one concern we have as advisors is protecting clients. Sure, there might be negative returns that happen year to year. But what we're worried about is making sure you don't run out of money in retirement and the returns in the short-term aren't a big deal in the grand scheme of things. If you struggle at all with having these conversations or just want to hear how other advisors handle bad markets, check out this episode and keep an ear out for the key points below.   Today's Key Points: 1:33 - What we're talking about today 2:54 - Market declines aren't bad news 5:22 - Markets are not linear 7:21 - Already factored into planning 8:47 - Discomfort in early stages 10:34 - This is normal 12:44 - So what?      Schedule a meeting with Dan: http://bookachatwithdan.com    Read more and get additional financial resources here: http://renegadeadvisor.net 

One of the hardest things to is actually one of the easiest. Sounds strange, right? Today we'll talk all about writing a book, which can seem like an overwhelming task for a financial advisor. We hear from people all the time that want to do it but have no idea where to start. This show will change that. We won't get into the mechanics of publishing a book on this episode. Instead, we'll focus on what the book should say and why it's so easy to do. We're going to take you through the outline for doing this so make sure you take notes along the way. You'll want to reference this later when you sit down to start your book.  Since learning the process we'll share today, we've written four books including an entire book on a single airplane flight. So settle in, grab your notepad, and let's get started.    Today's Key Points: 1:40 - The goal for this episode 3:47 - Cover and title 7:49 - Add an offer 9:45 - Testimonial page 10:20 - Next sections 11:12 - Forward page and who should read book 12:20 - My promise to you 12:53 - Introduction 14:36 - The chapters 17:10 - Sales section 19:38 - Final thoughts   Read more and get additional financial resources here: http://renegadeadvisor.net   Schedule a meeting with Dan: http://bookachatwithdan.com 

The goal for every advisor should be to manage 100% of your client’s money but that might seem easier said than done. The truth is that having the right approach with prospects makes it a logical decision to place all of their confidence in the work you do. On this episode, Dan will share his process for meeting with clients and setting expectations. This ‘co-design’ approach doesn’t just provide prospects with a clear understanding of your planning philosophy, but it also helps them see why it also makes the most sense for their retirement. We’ll also share the five areas that you’ll want to make a part of that co-design process. Hopefully by the end of the show, you’ll have a clear vision for how to achieve this goal of managing 100% of your client’s money. If you have any questions, you can get on Dan’s calendar by visiting BookaChatWithDan.com. So as you go through the episode today, keep an ear out for some of these topics that we cover: Why you don’t have to work with more affluent clients. Explaining what we mean by requiring your clients to put all their money with you. What you should ask your clients before they even begin working with you. The ‘co-design’ process and how to explain that it’s illogical to not have all of your money with one advisor. The five areas that you want to take the co-design approach with a client. Why you need to be a holistic advisor to get 100% of the money. What your marketing plan should be for this year. For more on this topic and other strategies to growing your business, join us over at AdvisorArchitect.com   Here is today's show rundown: 0:45 – Equity markets responding to major events 1:45 – Affluent clients 3:22 – What I mean by ‘require’ 100% of money 5:41 – Show them why it’s illogical to not have you manage it all 9:18 – 5 areas to co-design with a client 10:18 – Talking with your client 13:34 – Holistic advisor 14:30 – Your marketing plan for this year 15:32 – Tools you need  

Today we want to spotlight one of the first people to enroll in the Renegade Advisor program. Not because of that early relationship but because he’s incorporated many of the strategies we talk about and his success is taking off. Ryan Fleming, MBA, RICP, CRPC has an incredible story as a former college football player and graduate of the Air Force Academy. He identified this niche and went all in on working with pilots. The business was profitable early on but the real growth came when he began trusting the marketing strategies we discuss all the time. We asked him to join the podcast to share his journey as an advisor. Along the way, we expect you’ll pick up a few things that you can use in your own practice. So as you go through the episode today, keep an ear out for some of these topics that we cover: How he started reaching out to pilots and carving out this niche. His marketing systems and when it all started to click. What ways is he marketing his kit to pilots? The main things that held him back early on Uncovering landmines with prospects and how Ryan stays rigid to his approach as an advisor. Keeping the emotion out of your meetings with prospects. Generating referrals after taking a more holistic approach. For more on this topic and other strategies to growing your business, join us over at AdvisorArchitect.com   What we discuss in this episode:  0:45 –Background on our guest   2:10 – His credentials 3:38 – Decision to work with pilots 5:30 – Spending money to market 9:38 – Two things that held him back 12:00 – His rigid approach as an advisor 16:57 – A more holistic approach 19:38 – Writing a book 22:40 – Client appreciation event    25:22 – Growth 28:37 – Recapping everything we’ve discussed

It’s that time of the year when vendors are having their meetings and that means you need to understand what you’re walking into. The vendors want your business and they will do what it takes to keep you on board. Since they’re essentially in the commodity business, they have to come up with reasons to convince you otherwise. One of the ways they do this is to create a Financial Advisor Hall of Fame to provide you with perks and highlight the work you do. This can and should feel great, but it’s a tactic they will use to keep you locked up and make you keep pushing for these benefits. But it doesn’t always make sense to keep pushing to grow and chase this hall of fame when it comes down to the bottomline of your business. And that’s what it’s all about, right? So as you go through the episode today, keep an ear out for some of these topics that we cover: What really is vendor? The ways in which they can try to convince you can be cultish. Vendors creating a hall of fame to entice you. Be aware of this tactic. Why adding to your team and bringing on more staff doesn’t always mean more money. Hear about four Renegade Advisor members that had great success and how they did it. Understand what’s at play when you go to these vendor meetings. For more on this topic and other strategies to grow your business, join us over at AdvisorArchitect.com.   Show rundown:  0:55 – Vendor meetings 2:21 – Cultish behavior 4:22 – Financial Advisor Hall of Fame 6:08 – We’re running a business 7:37 – Four successful Renegade Advisors members 12:16 – Is it worth the time commitment

With the new year beginning, we hope you are as excited about the future of your business and what you hope to accomplish. With 2022 arriving, we’re always looking for ways to improve ourselves and our bottom lines, and that’s why we choose today’s topic.    Financial advisors are often wondering whether or not they should get a coach. Will it really help elevate your business? Can you see the impact? Let’s talk about that question and work through why it could be a tremendous business development investment. Coaches make an impact on many different aspects of life and finance is no different so if this is something you’ve been considering, you’ll want to hear today’s show. Find out what you’re looking for, what makes a successful program, and why coaches aren’t for everyone.   So as you go through the episode today, keep an ear out for some of these topics that we cover: Trying to accomplish all types of goals in life is achieved more often with the help of a coach. Why a coach isn’t the answer for every financial advisor. A coach should have experience and a background in the area you’re looking to get help with. Whatever you choose, it should have materials that allow you to work and learn on your own along with face-to-face meetings. Don’t bankrupt yourself paying for a program. Great programs should have stages that allow for beginners to experts   What we discuss in this episode: 0:55 – Finishing out 2021 2:45 – Do you need a coach? 4:40 – The primary motivator for having a coach 5:19 – Having a coach isn’t for everyone   7:10 – Your coach should have a background in the area you need help 9:40 – Necessary materials to learn on your own 12:44 – Find something affordable 14:03 – Stages to a program

We’re going to get a little political today but not in the way you would think. You might expect a show with criticism about judgment, but that’s not what this episode is about. The truth is the new administration in Washington D.C. has given financial advisors a lot of great opportunities to grow their business, and as a result, you should be ramping up your marketing efforts. Now, this isn’t a discussion about whether or not we agree with the current policies. It’s about leveraging the current environment to generate revenue for yourself. We’re going to use this episode to lay out a simple strategy for how to address the issues at hand and then provide a system to people that will help solve those problems. There’s a lot of fear and concern from Americans right now and proper planning can help ease many of those financial worries. That’s where you come in.   So as you go through the episode today, keep an ear out for some of these topics that we cover: The story behind the one and only Democrat that Dan has voted for. The reality of inflation and how to market around that issue. You want to appeal to what could be a worry or concern for your prospect. Why you should be talking about the news of the day. What questions you can ask at workshops Why you need to have a system in place For more on this topic and other strategies to grow your business, join us over at RenegadeAdvisor.net.   1:19 – Background on Dan’s political beliefs 3:29 – The marketing opportunities created by President Biden 4:14 – Inflation 5:42 – How to market around inflation 9:11 – Take advantage of the news of the day 12:19 – Questions to throw out at workshops   15:45 – Are you lacking a system? 17:56 – The takeaway from this topic