Matt Regan is the President of Wealthcare Capital Management, a tech-enabled RIA helping financial advisors maximize the value of their practices.  By developing strategies that create personalized and compelling client experiences, Matt and his team empower advisors to become intentional about the service they deliver. Matt has over two decades of experience in the financial services industry, having served as COO of Wescott Financial Advisory Group, a strategic and operational consultant for Splendid Splinter, and the Co-Founder and Managing Partner for WR Hambrecht + Co. He earned his Bachelor’s degree in History from the University of Toronto - University of St. Michael’s College and his Master’s degree in History from Villanova University. Matt currently resides in Philadelphia, PA with his wife and three children.

 

Matt joins me today to share his journey from teaching school-age special needs children to starting his career in financial services — and how learning to listen and admitting he doesn’t have all the answers has helped him become successful. We discuss what goals-based planning is and why listening and asking questions is at the heart of a successful holistic, goals-based plan. Matt explains how goals-based planning is different from other financial planning strategies and why market performance is less important than your likelihood of achieving your goals. We discuss how Matt’s company grew by over 33% in assets over the last 13 months, despite the COVID-19 pandemic, and how the pandemic has impacted the financial advisory industry as a whole. We also discuss the importance of creating a great client service model, how to build your independent practice to scale, and why financial planners and advisors need to create a practice with a standardized approach to succession.

 

“Advisors have come to the conclusion that the value that they provide isn’t in talking about things like standard deviation and market returns. It’s in holistic, goals-based planning, and that’s all about listening and admitting that you don’t have all the answers.” - Matt Regan

 

This week on The Model FA Podcast:

 

• Matt’s career journey from teaching special needs students to working in the financial services industry
• How Wealthcare Capital Management helps financial advisors maximize the value of their practice
• The impact of actively listening to your clients and asking questions
• Why listening to your clients and admitting you don’t have all the answers is the heart of holistic, goals-based planning
• How goals-based financial planning differs from financial planning strategies
• Why market performance is irrelevant for goals-based financial planning
• How Matt’s company acquired over $1 billion in assets over the last 13 months, despite the economic downturn due to COVID-19
• How the COVID-19 pandemic has impacted the financial advisory industry
• Why now is the time to ask your clients for referrals
• Why Matt is so passionate about helping independent financial advisors
• Creating true enterprise value on your independent practice
• Understanding what a great client service model is and why it’s important
• The benefits of specializing your financial advisory services and how to do it
• Why Matt believes less than 20% of financial advisors actually have a succession plan of their own in place, and why it’s vital to create one

 

Resources Mentioned:

 

• Midnight’s Children: A Novel (Modern Library 100 Best Novels) by Salman Rushdie
• Conversations: How to Manage Your Business Relationships One Conversation at a Time by Ivan Farber
• S4 EP04 (Part 1) | The Art and Skill of Conversation: The Blueprint for Memorable Conversations
• S4 Ep05 | The Art and Skill of Conversation (Part 2): Asking the Right Questions to Understand Your Prospective Client’s Needs

 

Our Favorite Quotes:

 

• “If part of your mission as a firm is to serve clients and help them get to their goals, well, realistically, you can’t serve the hundreds of millions of people in this country on your own. So if you develop something that can empower other folks to be innovative as well, it’s part of perpetuating that mission.” - David DeCelle
• “Market performance is irrelevant. It’s how you’re doing with regards to the likelihood of you achieving the goals that matter to you and your plan.” - Matt Regan
• “Whether you’re working with advisors or you’re working with individual investors, they’re all people. If they feel like they are heard and that you're approaching them with exactly what they were asking for,  there’s no real ‘selling’ that’s going on. It’s more filling a particular need that you help them identify.” - David DeCelle

 

Connect with Matt Regan:

 

• Wealthcare Capital Management
• Email: [email protected]
• Wealthcare Capital Management on LinkedIn
• Wealthcare Capital Management on Facebook
• Wealthcare Capital Management on Twitter
• Matt Regan on LinkedIn

 

 

About the Model FA Podcast

 

The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes  to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams. 

 

Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. 

 

Our Team:

President of Model FA, David DeCelle

 

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