Business of Advice

If your firm depends on you alone, it won't scale. Chase Koch, EVP of Origination and Partnerships at Koch Inc. and founder of Koch Disruptive Technologies, explains how to change that. In this episode, he shares the leadership principles, hiring philosophies and succession strategies that help businesses last — and how financial advisors can build a firm that scales beyond them.

You'll learn:

· Why every founder faces a reckoning — are you a builder or an operator, and what happens when you don't admit the difference

· Why and how you should disrupt your business before the market does it for you

· How you can build a culture where people know what to do without being told

Buy "Becoming a Principle-Driven Leader" by Charles and Chase KochWhether you run a global enterprise or a growing advisory practice, the 41 principles in this book offer a practical framework for making better decisions, building stronger teams and leading with clarity. It's a guide for anyone who wants to create lasting value — not just short-term results.

Put principles into practice with the free Principle Companion app. Use the Principle Companion app to apply principle-driven thinking to the real decisions you make every day. Available on the Apple App Store and Google Play.

Want to make a bigger difference?Visit Stand Together to learn how it unites partners and communities to expand opportunity and solve tough problems from the ground up. Learn more at standtogether.org.

Your clients spent 40 years mastering saving. But nobody taught them how to spend. That is one of the biggest values you can bring your clients. Morgan Housel, bestselling author of "The Psychology of Money," "Same as Ever" and "The Art of Spending Money," breaks down the emotional barriers that keep retirees from using what they've worked so hard to accumulate. He explains why spending feels so unnatural after a lifetime of watching net worth climb, and why the numbers alone never tell the full story.

In this episode, you'll learn:

· Why "Enough" Is Relative: Expectations grow faster than net worth, so a client with $10 million can feel more strained than someone living happily on Social Security.

· How Spending Can Reshape Identity: Big lifestyle upgrades often become a burden. As Housel notes, quoting Harvey Firestone on the mansion trap, "There's no going back except as a broken man."

· Why Purpose Beats Boredom: Removing work without replacing it with a chosen struggle leads to restlessness.

Connect with Morgan:MorganHousel.com – Visit Morgan Housel's website to explore his latest thinking on the psychology of money. It's a practical resource for advisors looking to sharpen how they talk with clients about spending.

This is it. The final episode of the Advisory Practice Blueprint series is here, and it brings the entire framework together. Guest host Cory Swain, president of AE Labs, sits down with Cody Foster, co-founder of Advisors Excel, to reveal how the top advisors turn an owner-dependent practice into a business that compounds for decades. You'll learn from the leader behind one of the most influential organizations serving financial advisors, as he lays out how to stop putting out fires and start building something that keeps growing year after year.

In this episode, learn:

• When to stay in the lead sales seat and what to delegate first as you scale

• The promotion-backfill strategy that gets workflows documented without making your team feel replaceable

· • How to redesign the first 90 days of client onboarding to beat buyer's remorse and earn more referrals

Buy "Unreasonable Hospitality" by Will GuidaraBuy "Never Lose a Customer Again" by Joey Coleman Great advisors don't just deliver good service — they design moments that build trust, reduce doubt and turn clients into advocates. Read these books to improve onboarding, personalize the client journey and build a business that grows through loyalty and referrals.

Buy "The Five Types of Wealth" by Sahil BloomMost advisors spend their careers chasing bigger numbers, only to look up one day and wonder what it all added up to. This framework challenges you to define what a thriving practice actually looks like when you factor in your time, relationships and sense of purpose. Don't just ask how much your business is worth. Ask what it's for.

Grab the "Office Secret Shopper Guide" and see your office the way a prospect does.From parking, signage and your lobby to how your front desk answers the phone, this walkthrough helps you spot the small first impressions that shape big decisions.

Get "The Advisory Practice Blueprint" and start building with purpose. Building a practice that's ready for what's ahead doesn't happen by accident — it takes a plan. "The Advisory Practice Blueprint" gives advisors a clear framework for positioning their business to capture the opportunity in front of them.

Opt-In here: https://join.advisorsexcel.com/business-of-advice-opt-in-page

Want to talk through where your business can go over the next decade?Book a call with Advisors Excel at [email protected].

Most advisory practices don't have a growth problem — they have a sales and marketing problem. In the second episode of our three-part Advisory Practice Blueprint series, guest host Cory Swain, president of AE Labs, interviews Cody Foster, co-founder of Advisors Excel, to pull back the curtain on what drives practice growth. After two decades working alongside the most successful advisors in the country, Cody knows what separates a thriving, scalable practice from one that's stuck — and it comes down to how you sell, how you market and whether your business can run without you.

In this episode, you'll learn:

· How one team removed 10 steps from their sales process and went on to bring in $800M in new assets

· Why human connection and client events are becoming the highest-ROI marketing strategies for advisors

· How AI is helping advisors identify the blind spots in their own conversations and coach their teams faster than ever

Buy "To Sell Is Human" by Daniel Pink and rethink the way you approach growth. Great advisors don't just market well — they know how to influence, communicate and guide people toward better decisions. A valuable read for anyone looking to improve conversations, build trust and grow with intention.

Get "The Advisory Practice Blueprint" and start building with purpose: https://join.advisorsexcel.com/business-of-advice-opt-in-page Building a practice that's ready for what's ahead doesn't happen by accident — it takes a plan. "The Advisory Practice Blueprint" gives advisors a clear framework for positioning their business to capture the opportunity in front of them.

Want to talk through where your business can go over the next decade?Book a call with Advisors Excel at [email protected].

$50 trillion is about to change hands in what's being called the greatest wealth transfer in history. In the first episode of our three-part Advisory Practice Blueprint series, Cory Swain, president of AE Labs, flips the script and interviews Cody Foster, co-founder of Advisors Excel. Together, they'll discuss why the next decade may hand advisors more opportunity than ever before.

In this episode, you'll learn about:

· The $50 trillion wealth transfer now underway, and how to turn this opportunity into lasting growth

· How one advisor grew from $50M to $350M in annual new assets after a single mindset shift

· Why independence will be a financial advisor's superpower in the coming years

Grab a copy of "The Compound Effect" by Darren Hardy and start stacking wins.A practical read for advisors who want big results from small, repeatable habits. This book breaks down how consistent daily choices drive lasting growth in your practice and your life.

Get "The Advisory Practice Blueprint" and start building with purpose.Building a practice that's ready for what's ahead doesn't happen by accident — it takes a plan. "The Advisory Practice Blueprint" gives advisors a clear framework for positioning their business to capture the opportunity in front of them.

Want to talk through where your business can go over the next decade?Book a call with Advisors Excel at [email protected].

Dr. Benjamin Hardy, organizational psychologist and author of "10x Is Easier Than 2x," explains the science behind scaling a business. In this episode of The Business of Advice with Cody Foster podcast, Benjamin breaks down the mindset shifts, business frameworks and leadership decisions that help owners scale faster.

You'll learn:

· Why a true 10x goal forces you to make better decisions than a safe 2x target

· Why considering "who, not how," is critical for delegation and scaling your business

· How The Scaling Framework™ helps businesses grow faster

If you want to grow your business, simplify your strategy and stop getting stuck in the gap between where you are and where you want to be, this conversation is packed with insight.

Want to scale your business 10x in three years or less?Scaling.com – Reach out to Benjamin and his team and get the strategies, systems and support to help turn your vision into a reality, pushing your business far beyond what you thought possible.

Market swings aren't a sign of a failing plan — they're your greatest opportunity to prove your value and grow your firm. In this episode of The Business of Advice with Cody Foster podcast, AE Wealth Management Chief Investment Officer Ben Sullivan reveals how top advisors use market uncertainty as an advantage. If you want to elevate your service model and start attracting more high net worth clients, this episode can help.

You'll learn how to:

· Use the Three P's: Align your people, process and product to attract and serve high net worth families.

· "Own the Bus": Use this powerful analogy to explain the massive tax and control benefits of direct indexing.

· Leverage Needs vs. Wants: Navigate the mindset shift to move toward managing more wealth and delivering on complex expectations.

Connect with the AE Wealth Management team:

AEWealthManagement.com — Get in contact with a team that can help you turn market volatility into client confidence and build enduring relationships with high net worth families.

Are you unknowingly putting a ceiling on your business growth? It turns out that leadership development might be your greatest form of insurance against the unknown. In this episode of the Business of Advice with Cody Foster podcast, author and leadership development coach Mac Lake reveals the strategies advisors can use to unleash their team's potential. Mac unpacks why clinging to control is the No. 1 threat to your growth — and how you can break through it. If you're serious about scaling your business and securing your future, you can't afford to miss these vital insights.

In this episode, you'll learn how to:

• Scale Beyond You: Transform your team with powerful, actionable mentoring techniques that boost performance fast.
• Break the Bottle: Spot the three warning signs that you're the bottleneck in your business.
• Succeed on Autopilot: Build a leadership pipeline that drives consistent results — even when you step away.

Multiply Without LimitsDon't wait for your circumstances to force a change. Take control of your business's future now. Check out Mac Lake's YouTube channel for insights on intentional leadership, team development and driving sustainable business growth.

Connect with Mac: MacLakeOnline.com – Get the tools and frameworks you need to scale your firm. Visit today to start building your leadership pipeline and empowering your team.

Instagram (@maclake24) – Follow Mac for behind-the-scenes leadership lessons, real stories and exclusive strategies to improve your team.

The sales landscape has moved from "buyer beware" to "seller beware." In this must-watch episode of the Business of Advice with Cody Foster podcast, bestselling author and human behavior professional Daniel Pink examines the new ABCs of selling — attunement, buoyancy and clarity. He explains how these qualities are changing the game for financial advisors and business leaders everywhere. If you want to grow as a leader and build deeper, more meaningful relationships with your clients, this episode is the place to start.

In this episode, you'll learn how to:

• Motivate Your Team: True team motivation relies on autonomy, mastery and purpose instead of traditional carrots and sticks.

• Reject Rejection: Bounce back from client rejections using interrogative self-talk.

• Drive Action: Leverage "fresh starts" and strategic endings to build momentum and inspire action.

Dig into the Science of Motivation

Ready to upgrade your work and life? Check out Daniel Pink's YouTube channel for quick, science-backed tips on everything from timing your coffee break to motivating your team.

Connect with Daniel:

DanPink.com – Get insights on creativity, motivation and the human condition — all built to challenge your thinking and upgrade your life.

How do you build a business that truly thrives? You start by finding people who care deeply about your mission.

In our latest episode, Dave Ramsey shares his hard-earned wisdom on how to build a culture of passionate, growth-oriented leaders. If you want to scale your business, you need a team that refuses to settle.

Dave describes three powerful principles every business owner needs to hear:

· Build a purpose-driven team: Focus on bringing together people who are deeply committed to your mission and always looking for ways to elevate their impact.

· Prioritize personal growth: Encourage continuous improvement, so your team is equipped to serve customers better — and deliver greater value.

· Demand honesty: Create a culture where open, truthful feedback is encouraged, helping everyone stay accountable and focused on shared goals. As Dave says, "Having people in your life who will tell you the truth is invaluable."

Fan the Flames of Incredible Growth

Dive deeper into the principles of team building and business growth with Dave Ramsey's 2025 book "Build a Business You Love" — a practical guide packed with 30+ years of experience to help you lead and grow your business with purpose.

Connect with Dave:

· RamseySolutions.com/Business – Explore tested strategies to help scale your company, improve team performance and build a healthier workplace.

· EntreLeadership – Access tailored coaching, training and resources to lead with intention and drive growth.