Episode three of Advisors Collective, hosted by Joshua Mauk and Annette Mckeown, delves into transforming financial advisory practices through modern tech and marketing. They discuss the pivotal role of digital presence, social media, CRM systems, and automation tools in elevating client satisfaction and business growth. With insights on overcoming compliance challenges, this episode sheds light on effectively engaging older clients and their beneficiaries. Tune in for a practical guide to staying competitive in an evolving industry. Subscribe to Advisors Collective

About the Guest(s):

Scott Leonard is the CEO of Terra Wealth Management with a distinguished career history including roles at Hartford Life, Protective Life, and Lincoln Financial. With 17 years on the wholesale side of the business, Scott brings a wealth of experience and insights into the financial planning and advisory industry.

Jeremiah Diamond is a founder and head of mergers and acquisitions at Terra Wealth Management. Having started as an independent financial advisor, Jeremiah is deeply knowledgeable in handling large client portfolios and developing strong, enduring relationships. His background encompasses extensive work in East Texas and a passion for serving his clients.

Episode Summary:

In this episode of Advisors Collective, hosts Josh, Scott Leonard, and Jeremiah Diamond dive deep into the importance of having a purpose-driven approach to financial advisory. They discuss the challenges they faced in the captive space and the transition to creating Terra Wealth Management—a hybrid structure offering both broker-dealer and RIA services.

The conversation starts with Scott's experience in the financial world, working his way through Hartford Life, Protective Life, and Lincoln Financial. It details his significant encounters, including meeting Jeremiah and the unique client cases they handled together. Jeremiah shares his journey from being an independent advisor to joining forces with Scott, driven by the desire for more flexibility and to make a deeper impact in the industry.

Key Takeaways:

• Power of Aggregation: Aggregating multiple lines of business under one umbrella can significantly increase the value of each advisor's book and offer more comprehensive services to clients.
• Importance of Relational Business: Transitioning from a transactional model to a relational one can create more meaningful and lasting client relationships.
• Succession Planning: A well-thought-out succession plan is crucial, especially for aging advisors looking to ensure that their clients continue to receive exemplary service.
• Teamwork and Philosophical Alignment: The importance of working with a team that shares your values and philosophies can't be underestimated. This partnership is essential for long-term success.
• Industry Challenges and Opportunities: The financial advisory industry is ripe for disruption, and there is a significant opportunity to innovate and provide better services through new business models like Terra Wealth Management.

Welcome to the inaugural episode of the Advisors Collective Podcast with your host, Joshua Mock, and his special guest, Annette McKeown. This episode is packed with entrepreneurial insights, heartfelt stories, and practical advice, making it an essential listen for financial advisors and business professionals aiming to elevate their careers. Recorded in Annette's charming Indiana coffee shop, the conversation unfolds organically, creating an intimate and engaging listening experience.

The episode kicks off with Joshua reflecting on his early entrepreneurial spirit, recounting his days of running an impromptu toll booth and fixing lawnmowers for cash. As the discussion progresses, Joshua and Annette delve into his transition from a management role at Gander Mountain to dropping out of college and venturing into the financial world. The conversation highlights the critical role of mentorship in his journey and explores the mindset needed to break free from limiting financial beliefs. Joshua also shares valuable lessons about balancing work and family life, emphasizing the importance of intentionality and efficiency.

Joshua Mauk: Joshua is a driven entrepreneur and financial advisor with a rich history in business and finance. Initially starting his career with a small, unregistered landscaping company in high school, Joshua later entered the corporate world, working in management for Gander Mountain. He transitioned into financial services, working under a seasoned mentor, and has since built a robust career in the industry. Joshua is now the host of the Advisors Collective Podcast.

Annette McKeown Annette is a close friend of Joshua and an influential person in his professional journey. She runs a successful coffee shop in Indiana, where many pivotal and brainstorming meetings for Joshua's endeavors have taken place. Annette brings insightful perspectives on entrepreneurship, business, and personal growth to the podcast.