Model FA Podcast

Jarid Beck is the co-founder and Managing Director of Risk Management Advisors, a national firm specializing in the design, implementation, and management of self-insured plans and captive insurance companies. A career specialist in alternative management strategies with a diverse background in insurance, Jarid delivers technical insurance solutions to clients in a wide variety of industries including construction, real estate, staffing, manufacturing, trucking, and finance. He holds a degree in Business Administration from the University of California, an Associate of Captive Insurance designation from the International Center for Captive Insurance Education, and a Construction Risk Insurance Specialist designation from the International Risk Management Institute.

Jarid joins me today to discuss captive insurance companies and how they can be a great means to serve business owners. He explains how business owners can utilize the captive insurance methodology and process within their companies. He outlines the benefits of captive insurance, especially toward risk management. Jarid also warns against the abuse of captive insurance, explains the work involved in creating captive insurance companies, and highlights how advisors can open the conversation about captive insurance companies with their clients or prospects.

"Captives are a great wedge for prospecting or keeping new ideas in front of your clients. It comes to fact finding—identifying how big their companies are and how many employees they have." - Jarid Beck

This week on The Model FA Podcast:

• Jarid's background, professional journey, and how he learned about captive insurance companies
• The business model of Risk Management Advisors
• What captive insurance means
• The risks captive companies typically self-insure for
• The logistics of captive insurance and how it differs from self-insurance
• What captive managers are and how they can help business owners with the captive insurance process
• The benefits of creating captive insurance companies
• Reinsurance and negotiating captives, risk, and losses
• Tax benefits and tax treatments related to captive insurance companies
• Risk profiles and types of business that can best benefit from captive insurance
• How to communicate the benefits of captive insurance to business owners

Resources Mentioned:

• Book: Taken Captive: The Secret to Capturing your piece of America's multi-billion dollar insurance industry by R. Wesley Sierk III
• Book: The Invisible Bankers: Everything the Insurance Industry Never Wanted You to Know by Andrew Tobias
• Blog: The Tail End — Wait But Why by Tim Urban

Our Favorite Quotes:

• "Captive insurance companies are a risk management tool that addresses insurance and risk needs. Using it outside of its intended purpose can make things go haywire." - Jarid Beck
• "In captive insurance, businesses start their own insurance company that serves themselves." - David DeCelle
• "Opening up the conversation is as simple as asking them about captive insurance, seeing how they respond, and letting them know you're there as their support." - David DeCelle

Connect with Jarid Beck:

• Risk Management Advisors
• Risk Management Advisors on LinkedIn
• Risk Management Advisors on Facebook
• Risk Management Advisors on Twitter
• Risk Management Advisors on YouTube
• Jarid Beck 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

If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Mike Metzger is a certified financial planner and the founder of Lifepoint Financial Design, a financial services firm dedicated to helping clients live a more purposeful life through financial planning. Mike–a real estate investor and spouse of a realtor—believes in the potential of real estate as an asset class and is on a mission to support realtors by providing them with creative financial planning services. Before founding Lifepoint, Mike served as the Vice President and Senior Financial Advisor of UnionBanc Investment Services and as a financial advisor for Merrill Lynch. He attended the University of Iowa and holds a Chartered Retirement Plans Specialist designation from the College of Financial Planning.

Mike joins me today to share his ideas on how financial advisors can effectively serve real estate professionals. He describes the beginnings of Lifepoint Financial Design and how he began serving real estate professionals after a career at Merrill Lynch. He explains the benefits of having a subscription-based pricing model and how financial advisors can help their realtor clients plan their cash flow through the "Profit First" method. Mike also highlights the biggest misconceptions about working with real estate professionals and underscores the power of connecting with clients on a deeper, personal level.

"Many realtors and real estate agents want to see the real you. They want to know that you're a genuine person—that you're someone they can connect with on their level." - Mike Metzger

This week on The Model FA Podcast:

• The power of building a brand and online presence
• Mike's educational background and professional journey in financial services
• The demographics of Mike's realtor clients
• Understanding the three pain points of realtors and real estate agents
• The unique challenges of working with clients from the real property industry
• Helping realtors compartmentalize their "opportunity dollars" and plan their cash flow
• The "Profit First" method
• Mike's business structure and pricing model
• Lifepoint Financial Design's ongoing client service model
• Passion, profit, and how to choose a niche as a financial advisor
• How Mike creates a casual and more enjoyable atmosphere with his clients
• Building solid relationships with clients through social media

Resources Mentioned:

• Book: The Happiness Equation: Want Nothing + Do Anything=Have Everything by Neil Pasricha
• Book: Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz

Our Favorite Quotes:

• "If people go to your Instagram, they would go to your meetings with their guards lowered. It solidifies the level of trust they already have with you." - David DeCelle
• "Realtors help people and build businesses similar to what we financial advisors do. There are so many ways in which you can connect, build, and solidify your relationship with them." - David DeCelle
• "Advisors who consider interacting on social media put too much thought in it. People just want to see the knowledge they're for and that you're a real person they can connect with." - Mike Metzger

Connect with Mike Metzger:

• Lifepoint Financial Design
• Lifepoint Financial Design on LinkedIn
• Lifepoint Financial Design on Facebook
• Mike Metzger on LinkedIn
• Mike Metzger on Instagram
• Mike Metzger on Twitter
• Email: [email protected]

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 on 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 for future podcast guests or topics you'd love to see covered.

Our Team:

President of Model FA, David DeCelle

If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Marc Glickman is an actuary and long-term care insurance expert. He is the founder and CEO of BuddyIns, a nationwide community of long-term care insurance experts who are dedicated to helping individuals and families find the best plan to meet their care needs. Marc previously served as the Chief Sales Officer of LifeCare Assurance Company, a firm he worked with for over 11 years before founding BuddyIns in 2019. In addition to his work at BuddyIns, Marc serves as a member of the Board of Advisors for CLTC. He holds an Economics degree from Yale University and is a designated Fellow of the Society of Actuaries.

Marc joins me today to discuss and clarify the misconceptions about long-term care planning and insurance. He describes why long-term care services have greater inflation than other products and how financial advisors can approach a conversation with a client about policies. He discusses why financial advisors should work with long-term care specialists. He also explains how offering long-term care planning to clients can open up generational wealth planning opportunities for financial advisors and highlights why long-term care planning is one of the best business relationship-building tools for a financial advisor.

"Think of a long-term care policy as a gift to your family. I bought my policy as a gift to my wife, who was happy to know that if something happens to me, she will not feel burdened with providing care for me." - Marc Glickman

This week on The Model FA Podcast:

• Marc's background and how he began his career in long-term care planning and insurance
• Long-term care planning and insurance and its role in a general financial plan
• How unpaid long-term caregiving impacts families
• The best time to talk to a client about long-term care insurance policies
• How to talk to a client who's not open to long-term care
• Funding mechanisms for long-term care services and policies
• Planning for insurance premiums with clients living on a fixed income
• The likelihood of an individual using their long-term care policy
• How a client can benefit from a long-term care plan if they don't get to use it
• How offering long-term care products can help financial advisors grow their businesses

Resources Mentioned:

• Book: The Snowball: Warren Buffett and the Business of Life by Alice Schroeder

Our Favorite Quotes:

• "When you're properly insured, you get an insulation and a sense of fearlessness that no matter what happens, everyone around you is taken care of. It's a rewarding feeling." - David DeCelle
• "Not implementing long-term care planning throughout your client relationships makes you grossly under-insured in your own book of business. Have these conversations; otherwise, it's a business risk for you in the long run." - David DeCelle
• "One out of two people will have an extended care event that will last up to 90 days. It's definitely something worth planning for." - Marc Glickman

Connect with Marc Glickman:

• BuddyIns
• BuddyIns Insurance Service on LinkedIn
• BuddyIns Insurance Services on Facebook
• BuddyIns Insurance Services on YouTube
• Marc Glickman on LinkedIn
• Email: [email protected]

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

If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Jennifer Hensley is a marketing strategist and the owner of Playmaker Coaching & Consulting LLC— dedicated to changing the game for referral-based business owners. By creating and implementing 90-day marketing plans with her clients, Jennifer helps them scale sustainably without the hassle or hustle. Jennifer worked with Northwestern Mutual for over 18 years before becoming the owner of Playmaker Coaching & Consulting in 2019. She graduated from the University of Missouri-Columbia with a Bachelor's in Marketing and earned her Chartered Financial Consultant and Chartered Life Underwriter designation from The American College of Financial Services.

Jennifer joins me today to offer advice on branding for financial advisors. She outlines the SVC branding framework and discusses what factors financial advisors need to consider when creating a branding strategy. She explains how financial advisors can elevate their branding if they're not active on social media. She also highlights how advisors can avoid getting overwhelmed when beginning marketing work for their business and underscores the value of creating a playbook for branding success.

"Start by showing up: comment on others' content, give free resources, or add value. Starting there can make a huge difference, and you wouldn't have to worry about how much you need to post every day." - Jennifer Hensley

This week on The Model FA Podcast:

• Jennifer's background and career at Northwestern Mutual
• The "Strategy, Value, and Consistency" framework for branding
• Tracking and identifying client segmentation and ideal clients
• Jennifer's advice for being more consistent with branding work
• The three circles of people who will see your content
• The importance of adding free value to other people
• How financial advisors can elevate their branding if they're not active on social media
• Creating a library of content for repurposing and reusing
• The branding minimum viable product every financial advisor needs to have

Resources Mentioned:

• Book: One Word that will Change Your Life by Dan Britton, Jimmy Page, and Jon Gorden
• Book: The Four Tendencies: The Indispensable Personality Profiles That Reveal How to Make Your Life Better (and Other People's Lives Better, Too) by Gretchen Rubin
• Book: Find Your Yellow Tux: How to Be Successful by Standing Out by Jesse Cole

Our Favorite Quotes:

• "The reality is if you want people to care about your stuff, it starts by you caring about theirs. You need to interact with them first to make interaction happen." - David DeCelle
• "It's important to not just put together a plan but also a plan of execution, and a plan around how you're going to review and reassess." - David DeCelle
• "Being strategic, value-based, and consistent helps advisors create aim and focus, rather than just going all over the board and hoping something will work out." - Jennifer Hensley
• "Advisors often have a lot of ideas all the time and immediately take it all and adopt it all, at which point they struggle. Trying to make it manageable makes it more consistent." - Jennifer Hensley

Connect with Jennifer Hensley:

• Playmaker Coaching & Consulting
• Email: [email protected]
• Jennifer Hensley on LinkedIn
• Jennifer Hensley on Instagram

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

If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Hiren Patel is the Head of Advisor Solutions at 55ip, a fintech company dedicated to breaking down the barriers to financial progress. By using its tax-smart investment strategy engine, 55ip helps financial advisors dramatically improve their efficiency and effectiveness. Hiren served as an Advisor Engagement Manager for SigFig from 2019 until joining the 55ip team in 2022. He served Merrill Lynch for over seven years as their Managed Solutions Specialist and Merrill Edge Performance Management VP. He holds a Bachelor of Arts degree in Economics from Rutgers University and a Master of Business Administration degree from the Fox School of Business at Temple University.

Hiren joins us today to discuss how 55ip helps financial advisors break down barriers to financial progress and scale their businesses. He outlines 55ip's tax strategies and how they help financial advisors make shifts in their careers. He offers advice on direct indexing. Hiren also explains how fintech can help financial advisors get time back in their businesses, increase their value proposition, or transition seamlessly to the RIA space.

"It's hard to save and stock money for the rainy day, but it's actually the easy part of investing. The hard part is getting the money out efficiently and effectively." - Hiren Patel

This week on The Model FA Podcast:

• Hiren's background, work experience at Merrill Lynch, and journey to 55ip
• COVID-19 and the shift of financial advisors toward the RIA channel
• What 55ip is and how they help financial advisors create scale and efficiency
• Tax-marked transitioning and automated tax-loss harvesting
• Tax-marked withdrawals and demonstrating value to clients
• Reviewing 2022's volatile market and tax-loss harvesting
• Why tax-loss harvesting can be challenging for financial advisors
• How 55ip helps financial advisors address the challenges related to model customization and personalization
• Bringing back the value of time in a financial advisor's business
• Direct indexing for financial advisors

Resources Mentioned:

• Book: Playing to Win: How Strategy Really Works by A.G. Lafley and Roger L. Martin

Our Favorite Quotes:

• "Putting together a thoughtful plan saves a considerable amount of time at execution and eliminates human error." - David DeCelle
• "Any time you can buy back and leverage your time, you can grow your business or increase your lifestyle." - David DeCelle
• "Tax harvesting is a great strategy that provides value and some additional returns in a negative market, but it needs to be done and executed effectively." - Hiren Patel

Connect with Hiren Patel:

• 55ip
• Hiren Patel on LinkedIn
• Email: [email protected]

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

If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Andrew Saksa is a media marketing and business development expert. He is the Senior Vice President for Business Development at ReminderMedia, a company dedicated to empowering clients to close more deals and retain more business. Before joining the ReminderMedia team, Andrew was the co-founder of Mypistevo.com and formerly served as the Vice President for Institutional Sales and West Coast Corporate Finance at Joseph Charles. He holds a Bachelor of Business Administration degree from Strayer University.

Andrew joins me today to discuss why building strong relationships is paramount to any business's success. He describes his professional journey from being a financial advisor to becoming a media marketing and business development expert. He offers advice on getting a client's spouse involved in financial planning and discusses how financial advisors can engage the next generation. Andrew also explains the importance of personalizing your interactions with clients and highlights and having a service mindset.

"The nature of any successful business comes down to one thing: relationships." - Andrew Saksa

This week on The Model FA Podcast:

• Andrew's background and journey to joining ReminderMedia
• His work at Mypistevo.com and New Hope for Kids and career as financial advisor
• How Andrew maintains the personal connections in his life
• Finding and serving a charity and the value of service
• How financial advisors can get their client's spouse involved in financial planning
• The importance of personalizing interactions with clients
• Generational financial planning and how financial advisors can connect with the newer generation
• Curating content and connecting with clients on their level

Resources Mentioned:

• Book: Conversations: How to Manage Your Business Relationships One Conversation at a Time by Ivan Farber
• Book: Think and Grow Rich by Napoleon Hill
• Book: Outwitting the Devil: The Secrets to Freedom and Success by Napoleon Hill
• Book: The Power of One More: The Ultimate Guide to Happiness and Success by Ed Mylett

Our Favorite Quotes:

• "When financial advisors have a scarcity mindset, they never get what they want." - David DeCelle
• "If you're helping people in different ways outside the scope of what you're compensated to do, you will be elevated in the minds of the people you serve." - David DeCelle
• "If you want to separate yourself from your competition, figure out what your top clients are into and what's dear to their hearts. Support their initiatives and they'll help you grow your business." - Andrew Saksa

Connect with Andrew Saksa:

• ReminderMedia
• ReminderMedia on LinkedIn
• ReminderMedia on Instagram
• ReminderMedia on Facebook
• ReminderMedia on Twitter
• ReminderMedia on YouTube
• Andrew Saksa 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

If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Matt Cosgriff is the Director of Wealth Management at BerganKDV, a trusted firm that offers business planning and consulting, tax, auditing and accounting, technology, and wealth management services throughout the Midwest. Matt joined the BerganKDV team in 2014. As a wealth management leader, Matt is passionate about cultivating a team-centric environment where everyone can be successful in the service of others. Matt holds a Bachelor of Arts in Economics & Finance from St. Olaf College and a Certified Financial Planner designation from Minnesota State University, Mankato.

Matt joins me today to discuss entrepreneurial operating systems and their application to a wealth management firm. He explains how an EOS helps BerganKDV maintain cohesion, build company culture, and achieve organizational initiatives and goals. He describes strategies for managing the challenges of implementing EOS frameworks in a company. He also outlines the framework that BerganKDV uses to overcome EOS's strategy gap and offers advice to advisors who want to roll out EOS in their organization.

"An entrepreneurial operating system is a language and framework that effectively brings clarity around how we want to accomplish whatever it is as an organization we want to achieve." - Matt Cosgriff

This week on The Model FA Podcast:

• Matt's background and career path to becoming Director of Wealth Management at BerganKDV
• BerganKDV's history, revenue, AUM, and sister company
• How BerganKDV's EOS is structured and implemented
• EOS's impact on accomplishing organizational goals and maintaining company culture
• Getting employee buy-in and other challenges in implementing EOS
• Playing to win and creating a framework to overcome EOS's strategy gap

Resources Mentioned:

• Book: Traction: Get a Grip on Your Business by Gino Wickman
• Book: Playing to Win: How Strategy Really Works by A.G. Lafley
• Book: The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company by Robert Iger
• Harvard Business Review's Playing to Win Toolkit

Our Favorite Quotes:

• "With a system like EOS, you can be more efficient, even with a lower number of people required to help manage the business." - David DeCelle
• "Simplicity doesn't take away effectiveness." - David DeCelle
• "EOS allowed us to have a broader vision and maintain cohesion and alignment as an organization." - Matt Cosgriff

Connect with Matt Cosgriff:

• BerganKDV
• BerganKDV on LinkedIn
• BerganKDV on Facebook
• BerganKDV on Twitter
• BerganKDV on YouTube
• Matt Cosgriff 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

If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Brian Ahearn is a consultant and the Chief Influence Officer of Influence PEOPLE LLC, an organization dedicated to helping people move others into action. Having been in the business of training people for over two decades, Brian helps his clients apply the science of influence for better business results. He graduated cum laude with a degree in General Business from Miami University and holds a Cialdini Method Certified Trainer designation. He is also the author of Influence PEOPLE, The Influencer, and Persuasive Selling For Relationship-Driven Agents.

Brian joins me today to discuss the principles of influence and persuasion. He recounts his background, why he left the insurance business and his journey to becoming an expert on building influence. He discusses ideas to make it easier for people to say "yes" to a sale without being too "salesy." He offers advice for building authority if you're new to the industry and describes the importance of invoking genuine scarcity. Brian also outlines the eight steps of an impactful sales process and explains the importance of knowing your audience.

"Everything about my persona is either hindering or helping my cause. How we interact with people is part of persuasion." - Brian Ahearn

This week on The Model FA Podcast:

• How Brian connected with Dr. Robert Cialdini
• Dispelling the negative connotations around persuasion
• The Aristotelian definition of persuasion
• The principles of influence and making it easier for people to say "yes"
• Getting people to like you through reciprocity
• How anchoring a shared identity with others makes it easier for them to agree
• Communicating your expertise and authority without bragging
• Building social proof and consistency in word and deed
• Scarcity and the fear of missing out
• Invoking a sense of scarcity without being too "salesy"
• Identifying "driver" and "relational" personality types and the best way to sell to them
• Building rapport and how to humanize yourself to clients and connect with them on a deeper level

Resources Mentioned:

• Book: The 7 Habits of Highly Effective People by Stephen Covey

Our Favorite Quotes:

• "Persuasion in the right hands can be extremely powerful and impactful." - David DeCelle
• "You can leverage social proof by focusing on a particular niche." - David DeCelle
• "When you're in sales, you've got to be willing to understand the other person and somewhat conform to them." - Brian Ahearn

Connect with Brian Ahearn:

• Influence PEOPLE LLC
• Book: Influence PEOPLE: Powerful Everyday Opportunities to Persuade that are Lasting and Ethical
• Book: Persuasive Selling for Relationship-Driven Insurance Agents
• Book: The Influencer
• Influence PEOPLE LLC on LinkedIn
• Influence PEOPLE LLC on YouTube
• Influence PEOPLE LLC on Facebook
• Influence PEOPLE LLC on Twitter
• Brian Ahearn 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

If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

David Kadavy is a designer, podcaster, and writer. He is the author of Mind Management, Not Time Management, The Heart to Heart Start, and Design for Hackers. He previously served as a design advisor to Timeful, an AI-powered calendar app built upon his mind management principles. In 2015, Google bought Timeful and integrated some of its features into the Google Calendar app. David has spoken in eight countries and SXSW, TEDx, The New York Public Library, The Museum of Contemporary Art, and The University of Chicago. He is the creator and host of Love Your Work, a podcast where he dives into being productive, getting things done, and breeding Black Swans as a creative.

David joins me today to discuss mind management and how financial advisors can apply it to their businesses and lives for optimum results. He differentiates between top-down and bottom-up thinkers, and why breaking down a project into its most basic parts can be overwhelming and energy-draining to some people. He shares how you can audit your energy throughout a week to unlock your creativity. He also describes his approach to goal setting for a new year and underscores the power of letting your passive genius take over.

"Find pockets of time and energy and protect them so you can get the most value possible from that mental state." - David Kadavy

This week on The Model FA Podcast:

• David's background and journey to learning mind management
• What mind management is and why time management is a flawed concept
• How financial advisors can apply mind management in their businesses and lives
• David's "Prefrontal Mondays," identifying your big rocks, and the value of identifying when you're most energetic and creative
• Different mental states for different activities and why the prefrontal cortex is adverse to creativity
• The importance of structuring your calendar and day according to your personal needs
• "Top-down" vs "bottom-up" thinkers and why SOPs can be intimidating
• MBTI types and the characteristics of Perceiving and Judging types
• The four stages of creativity and the value of giving yourself time to incubate ideas

Resources Mentioned:

• Book: Getting Things Done: The Art of Stress-Free Productivity by David Allen

Our Favorite Quotes:

• "Being diligent with your calendar and scheduling is freeing and helps you think less during the day." - David DeCelle
• "Set aside particular time to proactively think through the things on your plate. Limit distractions and tackle whatever the topic is at hand." - David DeCelle
• "Dedicating time and space to a particular task helps parse what mental state you need for that type of task. A certain time, place, and environment will be better suited to some mental states than others." - David Kadavy

Connect with David Kadavy:

• David Kadavy Website
• Book: Mind Management, Not Time Management: Productivity When Creativity Matters
• Book: The Heart to Start: Stop Procrastinating & Start Creating
• Book: Design for Hackers: Reverse Engineering Beauty
• Podcast: Love Your Work
• David Kadavy on LinkedIn
• David Kadavy on Instagram
• David Kadavy on Twitter

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

If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Penny Phillips is the co-founder and President of Journey Strategic Wealth, an RIA for advisors seeking independence and full-fledged practice management support. She is also the founder and CEO of Thrivos Consulting, a firm on a mission to support financial firms and advisors as they embrace change and discover new ways to thrive. Before founding Thrivos and Journey Strategic Wealth, Penny served as the Director of Practice Management at ClientWise and Vice President of Strategic Consulting at Envestnet, Inc. Penny holds a degree in Corporate Finance and Economics from Macaulay Honors College at The City University of New York.

Penny joins me today to discuss the financial advisor's pathway to independence. She describes a financial advisor's role in a consumer's life and shares her observations on various trends in the financial advisory industry. She explains how the industry is dictating what success means to advisors and describes how advisors' development becomes hindered by larger firms' closed systems and communities. She underscores the difference between wealth managers and investment managers and highlights the mindset and belief systems people need to change to become effective financial advisors.

"The transition an advisor needs to go through to be a consultative financial planner has less to do with technical confidence and more to do with behavioral and belief shifts." - Penny Phillips

This week on The Model FA Podcast:

• Penny's background and journey to co-founding Journey Strategic Wealth
• How the industry dictates what success means for financial advisors
• Mindsets financial advisors need to shift to become effective wealth and investment managers
• The difference between wealth managers and investment managers
• How today's generation of financial advisors differ from their predecessors
• The pathway to becoming an independent financial advisor or an RIA
• Different options in the RIA space
• Penny's predictions and forecasts for the financial advisory industry
• How large companies tend to make young financial advisors lose their passion for financial planning
• Why Penny thinks the solopreneur model will soon no longer work
• How society has changed motivation and incentives
• How financial advisors should position themselves in clients' lives
• The importance of building a personal brand

Resources Mentioned:

• Book: The Four Agreements: A Practical Guide to Personal Freedom by Don Miguel Ruiz

Our Favorite Quotes:

• "Some advisors want to go independent because it's higher revenue and comes with more autonomy. It's also much easier to exit an independent business and sell it." - David DeCelle
• "Build your personal brand. Being present, meeting where they're at, and building a relationship with them in a leveraged manner is critical." - David DeCelle
• "Any advisor who wants to protect themselves from being filtered out from the industry and being irrelevant needs to educate the client on the fact that investment management does not equal wealth management." - Penny Phillips

Connect with Penny Phillips:

• Journey Strategic Wealth
• Journey Strategic Wealth on LinkedIn
• Journey Strategic Wealth on Twitter
• Penny Phillips on LinkedIn
• Email: [email protected]

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

If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.