In this episode of the Advisors Collective Podcast, hosts Joshua Mauk and Annette McKeown discuss the impact of evolving technology on the financial advisory industry. They emphasize the importance of adapting to new technologies such as AI, social media, and crypto in order to stay competitive.

The conversation highlights the innovative approach of TerraWealth, a company built by advisors for advisors, offering a full hybrid platform that includes advanced CRMs, marketing support, and flexible compliance solutions.

They explore TerraWealth's unique royalty compensation model, the significance of integrating old and new marketing techniques, and preparing for the future landscape of financial advisory. The episode provides valuable insights for advisors looking to grow, scale, and future-proof their practices.

Joshua Mauk, host of the Advisors Collective podcast, recounts his unexpected encounter with Tim Ferriss in Lancaster, Pennsylvania. He shares seven valuable insights he gained from their brief breakfast interaction. These lessons include taking opportunities, giving genuine compliments, revisiting impactful ideas from 'The Four-Hour Work Week', recognizing podcast innovations, being gracious and kind, engaging in deeper discussions, and the importance of authenticity. The encounter highlighted Ferriss's genuine nature and offered reflections on building meaningful relationships and personal branding in the financial advisory field.

00:00 Meeting Tim Ferriss: An Unexpected Encounter

02:07 Key Lessons from Tim Ferriss: Take Your Shot

02:41 Genuine Compliments and Deep Conversations

04:08 The Impact of the Four Hour Work Week

04:30 Podcast Innovation and Long Form Content

05:12 Be Gracious and Kind: Tim's Welcoming Demeanor

06:29 The Importance of Authenticity

08:16 Final Thoughts and Book Recommendations

12:05 Podcast Disclosures and Legal Information

Building a strong referral network starts with being a proactive connector—introducing people to opportunities, services, and professionals that align with their needs. Trusting in the power of giving, whether through time, resources, or thoughtful gifts, fosters goodwill and strengthens relationships over time. Sharing success stories, collaborating with other professionals, and facilitating strategic introductions enhance credibility and trust. Thoughtful gift-giving further personalizes connections, leaving a lasting impression. By focusing on intentional actions, authentic relationships, and long-term impact, these strategies create a network of mutual support that benefits both personal and professional growth.

In this conversation, Pete Taylor and Joshua dive deep into the concept of discipline, breaking it down into three types: structural, reactive, and expansive. Pete emphasizes how mastering structural discipline, such as having consistent routines and time-blocking, can be a game-changer in business. This type of discipline can eliminate the need for motivation and emotional fluctuations. Reactive discipline is about responding to life's challenges in a way that aligns with your goals and not being derailed by others' problems. Expansive discipline involves making choices that propel you toward your bigger vision, consistently expanding your growth.

They also discuss the importance of emotional resilience on test days, pushing through challenges regardless of how one feels, and the idea of “self-betrayal,” where not following through on commitments can undermine your future self’s success. Pete emphasizes that a king-like mindset in business requires unwavering focus on your larger vision and not getting sidetracked by distractions. Joshua brings up the interconnectedness between personal and professional success, acknowledging that true success involves excelling in both areas.

Finally, Pete shares about two groups he runs for men: Awakened Man (focused on personal transformation, clarity, and healing) and Heroic Man (focused on self-leadership, masculinity, and practical growth). These groups are designed to foster deep growth, and Pete offers a place for men to learn from others and evolve into better versions of themselves.

This conversation highlights how discipline, personal development, and leadership come together to enhance not just professional success but overall life fulfillment.

How to Scale Your Financial Advisory Practice: Integrating Supernova and EOS Frameworks

In this episode of the Advisors Collective Podcast, host Joshua Mauk discusses the benefits of introductions over referrals for financial advisors and shares insights from the book 'Supernova' by Rob Knapp.

Joshua outlines the six key points of the Supernova process, including Client Segmentation, Team-Based Approach, 12-4-2 Framework, Time Management, Client Experience, and Systemization. He then explains how to integrate these Supernova principles with the EOS (Entrepreneurial Operating System) to create a structured and scalable high-performance framework for financial advisory practices.

Key topics covered include client segmentation, building a support team, implementing effective client communication systems, time management strategies, and the importance of systemization in scaling a financial advisory business.

### Advisors Collective Podcast: Innovative Prospecting for Top-Tier Clients

1. Invest in Marketing

Allocate 10-25% of your revenue into marketing efforts such as ads, events, and other strategies to attract qualified prospects. As your revenue grows (e.g., $2M/year), aim closer to the 20% mark to scale effectively.

2. The Importance of Prospecting

Many advisors focus too heavily on existing client portfolios rather than expanding their client base. Shifting efforts toward acquiring new clients can significantly grow your business.

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### Innovative Prospecting Strategies:

1. Host Small Exclusive Events

- Plan high-end, niche experiences like wine tastings or golf clinics.

- Hire professionals (e.g., a PGA pro) to create unique value.

- Invite top-tier clients and encourage them to bring similarly affluent guests.

- Focus on exclusivity to appeal to affluent prospects and foster a relaxed environment for introductions.

2. Use Personalized Invitations

- Avoid generic “bring a friend” invites.

- Research connections (e.g., via LinkedIn) and request specific introductions.

- Tailor invitations to ensure guests align with your ideal client profile.

3. Themed Social Events

- Create seasonal gatherings like pool parties, outdoor concerts, or private cooking classes.

- Engage both clients and their spouses to build stronger connections.

- Focus on shared interests to foster relationships in a low-pressure setting.

4. Dinner with a Thought Leader

- Partner with local thought leaders (e.g., business consultants, HR experts, CPAs).

- Host small, focused dinners where guests gain valuable insights.

- Collaborate with speakers to align their goals with your event’s objectives.

- Vet partners carefully to ensure alignment with your brand and client expectations.

5. Assumptive Confirmation Calls

- Follow up the day before events with excitement rather than generic confirmations.

- Mention specific details (e.g., guests attending or event highlights) to build anticipation.

6. Local Interest Groups

- Organize events around shared interests like art, wine, or charity.

- Encourage clients to invite friends with similar passions.

- Highlight exclusive opportunities like workshops or philanthropic initiatives.

7. Collaborate with Centers of Influence

- Partner with CPAs, estate planning attorneys, and other professionals.

- Host joint events offering valuable insights (e.g., tax savings, estate planning).

- Use CRM tools to coordinate outreach and invitations.

- Build long-term relationships with partners by helping them grow their businesses as well.

8. Seasonal Gift Surprises

- Go beyond traditional holiday gifts with personalized, thoughtful gestures.

- Examples include sending unique items for client vacations or gifts for their pets.

- Focus on meaningful experiences to strengthen client relationships.

9. Philanthropic Events

- Host or support charity events that resonate with your ideal clients.

- Collaborate with charities to identify specific needs (e.g., fundraising goals, volunteer efforts).

- Use these events to showcase your values while engaging clients and their networks.

10. Summer Hobby Clinics

- Organize clinics for hobbies like golf, fishing, tennis, or pickleball.

In this episode of the "Advisors Collective" podcast, host Joshua Mauk delves into the intricate balance of maintaining work-life harmony while continuing to excel in the financial advisory profession. Joshua emphasizes the importance of defining one's priorities, creating a structured schedule, and incorporating personal values such as family, faith, fitness, and friendships into daily life. He outlines a ten-step strategy to enhance productivity without sacrificing personal well-being, aimed at those in demanding financial advisory roles.

The discussion emphasizes the critical role of "block scheduling" and the need for setting clear boundaries between work and personal life to maximize productivity. Joshua highlights practical tips such as mastering calendar optimization, prioritizing personal health, and leveraging technology to automate repetitive tasks. The episode encourages advisors to integrate faith or spiritual practices to ground themselves and continually adjust strategies to maintain a fulfilling life. Packed with insights and tips, Joshua's advice aims to help financial advisors enhance their professional and personal lives effectively.

Join Joshua Mauk as he highlights the dynamic team of Joe Kochenour and Justin Pierce from Leader Heights Advisory in Pennsylvania. Discover how they've combined old-school charm with new-school tactics to build a thriving financial advisory practice. With discussions on the power of partnership, the importance of Google reviews, and marketing strategies that blend digital innovation with traditional methods, this episode offers valuable insights for financial advisors seeking to grow their practices. Be inspired by their journey from individual advisors to a powerful, cohesive team delivering exceptional client experiences.

Joshua Mauk welcomes Mike Payne, JD, CPA and founder of Boss Advisors, to explore the intersection of tax and legal services for financial advisors. They discuss toolsets and skillsets in client relationships, the benefits of subscription models, and Arizona's progressive business regulations. Tune in to discover strategies for integrating CPA and legal services, the nuances of working remotely, and the importance of deepening professional relationships. Learn how advisors can offer proactive, holistic advice and efficiently scale their businesses.

Walker Ham, Senior VP at Financial Independence Group, joins Joshua Mauk to explore the evolving landscape of insurance products, risk management, and the role of IMOs in today’s financial advisory world. They discuss the impact of technology on the industry, the misconceptions about insurance amongst fee-based advisors, and the importance of holistic planning for clients. With insights into fixed indexed annuities, advanced market planning, and industry trends, this episode is a deep dive into how advisors can better serve their clients' diverse needs. Don't miss the engaging dialogue on modern financial strategies and future industry challenges.