Advisor Talk with Frank LaRosa

Today’s show highlights include:

*A breakdown of the industry trends that led to the formation of Elite Advisor Successions.

*The process that Elite Advisor Successions engages in with buyers to be able to see what they truly want, as well as what is best for them.

*The qualifications consistent among “serial buyers”, and the preparation required to establish yourself as a legitimate buyer.

*Common pitfalls that buyers cause a deal to fall through for a buyer and seller.

*When engaging with sellers, why the emotional aspect of the transaction is crucial to address, and the potential impact overlooking this can have.

Whether you're currently in the market as a buyer or seller, this episode offers a comprehensive breakdown of crucial considerations. Join Frank, Brian, and Joe as they dive into the winding pathways of advisor successions and equip you with the knowledge needed to thrive.

Today’s show highlights include:

*Why financial advisors typically want to go RIA, and what we look for in advisors to dictate what structure would make the most sense for them.

*A comprehensive breakdown of the diverse RIA structures available to transitioning advisors.

*Insight into the often overlooked yet highly advantageous option of tucking into an existing RIA.

*The regulatory and compliance considerations for transitioning to an RIA, including the advantages and challenges compared to other structures.

*How to determine whether an RIA structure is the right structure for you in setting up the next phase of your career.

Join Frank and Vince in today’s episode as they explain why embracing the RIA model could mean the difference between stagnation and growth for financial advisors. Whether you're a seasoned advisor or just starting out, this episode will provide you with the knowledge and resources needed to position yourself for long-term success and sustainability.

Today’s show highlights include:

*An overview of common misconceptions of RIAs that advisors have when they want to create one.

*What the nationwide trend of more advisors wanting independence means for the RIA space as a whole.

*The difference between a state registered RIA and an SEC registered RIA.

*What an advisor really means when they say “I want to go RIA”.

*The differences between an RIA and a Hybrid RIA.

Join Frank and Vince as they demystify the journey to becoming an RIA while exploring the growing demand for advisor independence. Through this episode, you’ll gain valuable insights into what it truly means for an advisor to embrace the RIA model and understand the nuances between different RIA structures.

Show highlights include:

*The significance of understanding your reason for moving firms and setting clear practice goals. 

*The importance of using available information to make decisions that best align with your happiness and future vision of success. 

*The need to overcome distractions from external opinions and focus on what is right for you without succumbing to fear, doubt, or decision fatigue. 

*How Elite Consulting Partners has positioned itself as a valuable resource to help financial advisors navigate these complex decisions.

Today’s episode serves as a guide for advisors who feel it's time to make a move, encouraging them not to let fear hinder their decision-making process. Join Frank LaRosa and Stacey Frank as they provide strategic advice and solutions tailored to the unique challenges of financial advisors.

Show highlights include:

*How Elite uses our Core Values as a thermostat to measure and ensure that the decisions we are making are aligning with our ultimate goals.

*What we mean when we say that we speak with advisors every day who don’t have a clear definition of who they want to be.

*Why our Elite team is adamant about the connection between success at work and success at home.

*A breakdown of why Core Values are necessary for every scale of practice or firm, whether you’re a 2-person team or a corporate team with hundreds of employees.

Throughout the course of the episode, it is easy to see why Frank and Stacey as leaders place an emphasis on Core Values. For Elite Consulting Partners, our Core Values are not just words on a page. They are the foundation of our company culture and the driving force behind everything we do. As you are listening to this episode, think about what your own personal and professional goals, and start formulating a list of the Core Values you will commit to in order to achieve them.

Topics discussed include:

*Breaking news on the launch of the Strategic Wealth Services Hybrid model, its industry impacts, and benefits to advisors.

*A breakdown of the advisor-first approach that is at the heart of the Strategic Wealth Services model.

*The importance of Transition Assistance as a key differentiator in LPL’s Strategic Wealth Services model.

*An explanation of the “pod” concept, and how its utilization creates scalability within practices.

*A recap of recent market trends that are affecting the state of advisor transitions towards independent and hybrid models.

* From-the-trenches stories about advisors currently utilizing LPL Financial’s Strategic Wealth Services model and the tangible business impacts they are experiencing.

The conversation between Frank and Kimberly is both fast-paced and insightful. Advisors are certain to come away from this episode with plenty of food for thought about LPL’s Strategic Wealth Services model and how it could influence their own book of business.
 

Some of the topics discussed include:

* A summary of Stacey Frank’s unique background in psychology and education, and how it enables her to build deeper connections with her clients.

* The benefits that come along with empowering women in the financial services industry.

* An explanation of the differences between firms who have women in positions of power just to “check a box”, and firms who are genuinely investing time and resources into ensuring their female practitioners are in the perfect position for success.

* The true value of having a strong culture in your firm that everyone can buy into.

* The immense power that comes from actively listening to your clients, and what this really means with regards to consulting with financial advisors.

The expertise shared by Frank and Stacey throughout this episode is detailed. If you are a financial advisor who is now realizing that the culture of your current firm is not up to your standards, then it's time for you to start exploring what transition opportunities are available to you. Reach out today by sending an email to [email protected], or call at (856) 316-4651.

You can also reach Stacey Frank via email at [email protected], or by phone at (856) 316-7736.

Topics discussed in this episode include:

New marketing and technology trends within the financial services industry.

The social media strategies you need to implement to see increased ROI on marketing efforts.

The importance of creating structure and consistency in terms of brand messaging and marketing cadence.

How to use traditional marketing psychology and techniques in combination with new technology to attract your ideal clients.

The value that a strong marketing strategy can bring to your business for when you decide to sell your book of business.

Join Frank and Tina as they dive into the world of financial services marketing and discuss strategies that have consistently delivered transformative results.

To learn more about Elite Marketing Concepts and how you can level up your practice marketing strategies, email [email protected] for more information.

Show highlights include:

*The universal importance of exit planning
*An exploration of the psychological aspects behind the decision of why someone chooses to leave their business.
*Why it is crucial to have the ability to accurately assess what a business is truly worth, whether it is your own or someone else’s.
*Some of the clever methods that financial advisors can utilize to start exit planning conversations with business owners.

Between Frank and Dan’s insightful expertise, listeners will have gained valuable perspectives on exit planning and how to apply these insights to their own business. As we navigate the intricate landscape of business transitions, the conversation serves as an indispensable guide for financial advisors and business owners, emphasizing the significance of thoughtful exit strategies. Tune in for a wealth of knowledge that resonates with the core of every entrepreneur's journey.

Disclaimer:
Daniel Prisciotta is a registered representatives of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Lincoln Financial Network is the marketing name for Lincoln Financial Securities Corporation and Lincoln Financial Advisors Corp., affiliates of Lincoln Financial Group. Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Equity Strategies Group LLC is not an affiliate of Lincoln Financial Advisors Corp. CRN-6139024-120523

Topics discussed include:

* Tactical strategies that you can implement right now to become a stronger leader.

* Why leadership qualities are more important for financial advisors than ever before.

* How Ray Kelly’s career path within financial services led to him being a leadership coach and consultant.

* How the Financial Advisor Success Syndicate, an online community of which Frank and Ray are both founding members, inspires and fosters advisor leadership.

* An explanation of what the 70-20-10 Rule of Adult Learning is and how we can all apply it to our personal and professional lives.

The conversation between Frank and Ray is packed with information that every advisor can benefit from hearing. Listen with the intention of applying these lessons to your own practice, and you will walk away from this episode with the tools that you need to be a successful leader.

If you are interested in joining the Financial Advisor Success Syndicate and learning even more from these two industry thought leaders, visit JoinFASS.com.