Model FA Podcast

Eric Clarke is the Founder and CEO of Orion Advisor Solutions, an organization that helps advisory professionals operationalize their vision for success by delivering cutting-edge financial technology and investment management solutions. Eric is an advocate for fiduciary advisory professionals and has written several articles for InvestmentsNews and The Journal of Financial Planning. A highly-regarded thought leader in the industry, Eric has received various awards, including ThinkAdvisor’s IA25 in 2012 and 2019 and InvestmentNews’s Icon & Innovators Award in 2019. Before founding Orion, Eric served as the Chief Operations Officer for CLS Investments from 1999 to 2006. 

Eric joins me today to discuss the four pillars financial advisors should build to set themselves apart. He shares the history of Orion and how the company was born out of Eric’s frustration with finding the right RIA technology. He describes what makes a powerful value proposition and explains why advisors should focus on creating an impactful brand experience for clients. He also highlights the power of habits and discipline, discusses the value of listening to feedback, and underscores why any business owner should think about their “why.”

“Figuring out the exact market you’re going to serve is critical to success and refining your value proposition.” - Eric Clarke

This week on The Model FA Podcast:

• The founding of Orion and the challenges the company faced in the early days 
• How Orion dealt with financial advisors’ reluctance to adopt financial services technology
• Eric’s advice for entrepreneurial advisors who want to build their own businesses
• The importance of listening to market and client feedback
• The power of habits and how to maintain work-life balance while growing a company
• How financial advisors can differentiate their value proposition in the marketplace
• The impact of building a unique brand experience
• Niching down and why financial advisors need to identify the market they want to serve
• What strategic alignment is
• Different ways financial advisors can leverage technology to prospect clients
• The Traction model and the give-to-get prospecting method

Resources Mentioned:

• Book: Brand Harmony: Achieving Dynamic Results by Orchestrating Your Customer’s Total Experience by Steve Yastrow
• Book: Traction: Get a Grip on Your Business by Gino Wickman
• Book: The Art of the Start: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything by Guy Kawasaki

Our Favorite Quotes:

• “Prospect, plan, invest, and achieve. Those are the four strategic pillars advisors need to differentiate their value proposition.” - Eric Clarke
• “Advisors can set themselves apart through the experience component of their relationship with clients.” - David DeCelle
• “Your target market determines everything else about your business, branding, and marketing strategy.” - David DeCelle

Connect with Eric Clarke:

• Orion Advisor Tech
• Orion Advisor Tech on LinkedIn
• Orion Advisor Tech on Instagram
• Orion Advisor Tech on Facebook
• Orion Advisor Tech on Twitter
• Eric Clarke 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.

Nick Bradley is the co-founder and director of The Fielding Group, a growth consultancy firm that helps founders and shareholders achieve freedom, accumulate wealth, and accelerate impact by improving business performance. Nick is a world-renowned business growth expert who works with entrepreneurs, business leaders, and investors on building high-value companies. Over the last decades, he has built, bought, and sold over 24 businesses with a combined valuation of $5.2 billion. Nick owns several other businesses in various industries—including education, media, and professional services—and continues to build his portfolio via acquisitions and joint ventures. Being passionate about helping other entrepreneurs grow and scale their business, Nick shares his expertise and insight by hosting Scale Up Your Business, the UK’s #1 business podcast.

Nick joins me today to discuss the eight key areas a business must master to drive exponential, predictable growth. He shares his passion for health and fitness and discusses what sports and ultramarathons have taught him about running and growing a business. He highlights the importance of taking control of your time and explains how time management can give you more freedom in business and life. He also reveals why businesses often stop growing and underscores the power of having a clear business purpose.

“Anyone can build a business that grows over time, but if you don’t know the dynamics of that growth, you can’t necessarily repeat it and create efficiency—it’s not predictable.” - Nick Bradley

This week on The Model FA Podcast:

• What health, fitness, and ultramarathons have taught Nick about scaling a business
• How Nick became passionate about fitness
• How to get out of complacency
• The power of discipline, structure, and planning
• Why planning your day gives you more freedom and flexibility
• Why businesses need to have a clear purpose
• The importance of knowing the ideal client you want to serve
• Why businesses that don’t niche down slow their growth
• Staying in your zone of genius and the power of cultivating an ecosystem that can help you scale
• Miracle mornings and creating the best morning routine for you
• The role of clarity and precision in business and life

Resources Mentioned:

• Book: Traction: Get a Grip on Your Business by Gino Wickman
• Book: The 12 Week Year: Get More Done in 12 Weeks than Others Do in 12 Months by Brian Moran and Michael Lennington
• Book: Think and Grow Rich by Napoleon Hill
• Book: The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod
• Book: The Road Less Stupid: Advice from the Chairman of the Board by Keith Cunningham
• Book: The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller

Our Favorite Quotes:

• “The more you can use your schedule, the more likely you are to follow through with the goals you’ve set.” - David DeCelle
• “Choose a group of people you want to serve. Doing so defines your marketing, service plan, and the experience that you deliver.” - David DeCelle
• “If you don’t take control of your time, the vacuum that exists there is going to be filled by something else.” - Nick Bradley

Connect with Nick Bradley:

• The Fielding Group
• Scale Up Your Business Podcast
• The Fielding Group on LinkedIn
• The Fielding Group on Facebook
• The Fielding Group on Twitter
• Scale Up Your Business Facebook Community
• Nick Bradley on LinkedIn
• Nick Bradley 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.

Luke Acree is the President of ReminderMedia, a sales and marketing company that helps businesses generate leads, develop repeat clients, and capture referrals. Luke specializes in lead generation and has helped more than a hundred thousand entrepreneurs and small businesses grow their companies. Under Luke’s leadership, ReminderMedia has earned its place in Inc’s 5,000 List of Fastest-Growing Private Companies in America for four consecutive years. Luke is passionate about teaching the principles of relationship marketing, and hosts Stay Paid, a podcast ranked among the top 30 marketing podcasts on Apple Podcasts.

Luke joins me today to discuss the keys to building a deep relationship with clients and prospects. He reveals the pain points financial advisors encounter in marketing and discusses how ReminderMedia can help them turn clients into raving fans. He defines the “FIT” and “FORWARD” marketing principles and describes how financial advisors can use different social media platforms to become more visible to their existing clients. He also underscores the rise of print in the age of digital media and highlights the value of actively engaging with others on social media platforms.

“There are three elements you need to have with your marketing to produce referrals, repeat business, and new businesses: frequency, impact, and trust.” - Luke Acree

This week on The Model FA Podcast:

• Luke’s background and how he started his first business, NextMark Design
• Joining ReminderMedia and the challenges Luke faced in building and growing a business
• The impact of enforcing and maintaining KPIs
• Identifying “quarterly rocks” and the role of accountability in business and life
• ReminderMedia’s services and how they help financial advisors
• Why advisors need to add value to their clients beyond financial management and advisory
• ReminderMedia’s print marketing strategy to promote financial advisors
• The FIT marketing methodology and the factors that drive impact
• The norm of reciprocity and how magazines can help build credibility for financial advisors
• Why advisors need to build more touch points with their clients
• How to connect with clients and prospects on a personal level on social media platforms
• The “FORWARD” principle and the keys to cultivating relationships with clients
• How to influence social media algorithms in your favor

Resources Mentioned:

• Book: Traction: Get a Grip on Your Business by Gino Wickman
• Book: Extreme Ownership: How U.S. Navy SEALs Lead and Win by Jocko Willink
• Podcast: Real Estate Rockstars
• Podcast: SharkPreneur
• Podcast: Marketing Genius
• Loom Video Messaging

Our Favorite Quotes:

• “People do business with people they know, like, and trust. Relationship-building is the key to getting there.” - David DeCelle
• “It’s amazing how a simple connection through social media can turn into an in-person interaction and collaboration.” - David DeCelle
• “The thing that holds a client is the trust and relationship they have with you.” - Luke Acree

Connect with Luke Acree:

• ReminderMedia
• Podcast: Stay Paid
• ReminderMedia on LinkedIn
• ReminderMedia on Instagram
• ReminderMedia on Facebook
• ReminderMedia on Twitter
• ReminderMedia on YouTube
• Luke Acree on LinkedIn
• Luke Acree on Instagram
• Luke Acree on Facebook
• Luke Acree 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 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.

Will Bressman is the CEO of RIA in a Box, a leading provider of compliance and operations solutions for RIAs and investment advisors. RIA in a Box products are built by RIA advisors and developers and backed by a team of regulatory experts. Will graduated with a degree in History from Harvard University and completed his Master of Business Administration degree at the Stanford University Graduate School of Business. Before joining RIA in a Box in 2011, Will served in the digital media industry, working with Good Morning America and LXTV.

Will joins me today to discuss the new SEC regulations on marketing, testimonials, and endorsements. He discusses how the new rules can impact financial advisors and explains what advisors can do to remain compliant. He shares his philosophy on running the operational aspects of a business and explains why he is passionate about business operations. Will also highlights the importance of proactively strengthening an RIA firm’s cybersecurity foundation and underscores the value of making a commitment to learning.

“Our goal is to ensure that advisors get the everyday operational tools they need to focus on what matters most: the clients and the market.” - Will Bressman

This week on The Model FA Podcast:

• Will’s career path: from working for Good Morning America, to getting into business school, to RIA in a Box
• The ideation stage of RIA in a Box
• The services RIA in a Box offers and how they have evolved over the years
• The lessons RIA in a Box learned as their range of products and services transformed
• New SEC regulations on client testimonials and how they can impact financial advisors
• How financial advisors can ensure their compliance with the new SEC rules on testimonials and endorsements
• What groupthink is and how positive testimonials can encourage prospects to work with a financial advisor
• Proactively empowering clients to stay ahead with cybersecurity issues
• What makes an effective cybersecurity tool and why training people is the best way to strengthen a firm’s cybersecurity
• How often cybersecurity breaches happen in independent wealth management and financial advisory firms
• Why RIAs need to cultivate great email and IT hygiene
• Disrupting the future by acknowledging the imperfection of the present

Resources Mentioned:

• Book: But What If We’re Wrong? Thinking About the Present As If It Were the Past by Chuck Klosterman
• Book: Thinking, Fast and Slow by Daniel Kahneman
• Wealthtender

Our Favorite Quotes:

• “You need to guide people through the process. Be extremely clear and communicative about not just where resources are, but how and when to use them.” - David DeCelle
• “Peoples’ decisions and choices are influenced by those around them. A prospect on the fence of working with you happens to see positive testimonials ― that might be the thing to make them say yes.” - David DeCelle
• “If you want to build a great product, you need to ensure you know how to translate that to clients and how they can get a lot of value out of it.” - Will Bressman

Related Content:

• Brian Thorp on Modernized Marketing Rules for Financial Advisors

Connect with Will Bressman:

• RIA in a Box
• RIA in a Box on LinkedIn
• RIA in a Box on Facebook
• RIA in a Box on Twitter
• Will Bressman 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.

Kevin Lozer is the co-founder of Holistiplan, a tax planning software solution that helps financial advisors provide robust tax planning services to their clients. Kevin co-founded Holistiplan to help financial planners serve more clients that need comprehensive financial planning at all stages of life. In addition to his work with Holistiplan, he is also the founder and principal of his financial planning practice, Oakton Financial, and serves as a regional board member of the National Association of Personal Financial Advisors.

Kevin joins me today to discuss how leveraging the Holistiplan software can help financial planners and CPAs deliver more value to their clients. He shares his professional journey and how he co-founded Holistiplan after years of working in financial planning. He also explains how using Holistiplan can help financial advisors strengthen their relationships with their centers of influence and underscores the importance of educating consumers on what makes good financial planning.

“As an industry, we need to educate consumers on what good financial planning really is.” - Kevin Lozer

This week on The Model FA Podcast:

• Kevin’s background and why he decided to transition to the software industry after operating a financial planning practice
• His first foray into financial planning from working in the world of corporate finance
• The ethos, beginning stages, and evolution of Holistiplan
• The difficulties of running a B2C organization and why Kevin and his co-founder decided to pivot into a B2B firm
• How long Holistiplan has been in business and how many advisors they currently serve
• The “give-to-get” method and how it creatively adds value, builds relationships, and turns prospects into clients
• How financial advisors can leverage Holistiplan for growth
• How Holistiplan helped increase adoption of tax planning software
• Building partnerships with broker-dealers and other ways Holistiplan grew from zero customers to 2,000 subscribers
• How financial advisors can leverage the Holistiplan software to deliver financial planning insights to their clients
• How Holistiplan can help financial advisors deepen their relationship with their centers of influence and CPAs

Resources Mentioned:

• Book: The Ensemble Practice: A Team-Based Approach to Building a Superior Wealth Management Firm by P. Palaveev
• Book: Disrupting for Good: Using Passion and Persistence to Create Lasting Change by Chris Field
• Book: The Fine Green Line: My Year of Golf Adventure on the Pro-Golf Mini-Tours by John Newport

Our Favorite Quotes:

• “If your friends and peers think you’re crazy, you’re probably on the right path.” - David DeCelle
• “Satisfied clients who have a better experience are more likely to share it.” - David DeCelle
• “Bringing CPAs to the boat will make them feel like they’re part of the team, and the client will feel like they have a team of financial professionals.” - Kevin Lozer

Connect with Kevin Lozer:

• Holistiplan
• Oakton Financial
• Holistiplan on LinkedIn
• Holistiplan on Twitter
• Kevin Lozer 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.

Ron Bullis is the Co-Founder and CEO of Lifeworks Advisors, a modern Registered Investment Advisor (RIA) and technology firm striving to push the boundaries of wealth management. Lifeworks Advisors disrupts outdated business models and delivers personalized solutions to clients and advisors through their modern software platform. After working as a Wealth Management Advisor for almost a decade with Northwestern Mutual, Ron co-founded Lifeworks to help people simplify their financial lives, live “above the grind,” and focus on what matters most. In addition to his work with Lifeworks, Ron is also the President and Founder of The Ella Bullis Foundation, an organization dedicated to supporting families impacted by premature birth and infant loss.

Ron joins me today to discuss the keys to RIA growth through a solid client acquisition process. He shares his principles for building a team and explains why leaders shouldn’t only choose team players based on the revenue they can deliver for the business. He underscores the importance of cultivating relationships with clients based on trust and emphasizes why advisors need to deliver value beyond their clients’ assets. He also highlights how social media and digital platforms can bridge the most challenging gaps financial advisors face.

“One of the keys to building a business is creating a scalable and predictable client acquisition system.” - Ron Bullis

This week on The Model FA Podcast:

• How Ron’s business model and mindset have evolved after coming into the RIA industry
• Ron’s insurance philosophy and how it has shifted over time
• Ron’s success principles and how he and his team grew Lifeworks Advisors
• Building a scalable and predictable client acquisition system
• Growing and scaling a business in the new normal
• Leveraging social media platforms to grow an RIA in uncertain times
• Designing a client acquisition system based on trust and why Ron is passionate about client experience
• Cultivating an enterprise value that serves clients across generations
• Leading a world-class team that adds value beyond revenue
• The Feedback Marketing Method and the difference between fee compression and margin compression
• How financial advisors can communicate their organization's exceptional value
• The importance of focusing on a specific demographic 
• The role of a digital marketing platform in a sustainable client acquisition system

Resources Mentioned:

• Book: Delivering Happiness by Tony Hsieh
• Book: Essentialism: The Disciplined Pursuit of Less by Greg McKeown
• Book: The Council of Dads: My Daughters, My Illness, and the Men Who Could Be Me by Bruce Feiler
• The 2019 FA Insight Study of Advisory Firms: People and Pay
• Vanilla

Our Favorite Quotes:

• “There’s something about meeting an advisor for the first time that has some level of intimidation. If you can soften that by exposing them to who you are, it’s only going to help.” - David DeCelle
• “Advisors who don’t focus on a specific group of people get stuck on making different types of promises upfront and later realize they can’t scale it.” - David DeCelle
• “The work advisors do is noble. We have an important role to play, whether we envision ourselves as a life coach, accountability partner, or co-pilot.” - Ron Bullis

Connect with Ron Bullis:

• Lifeworks Advisors
• The Future of Advice
• Lifeworks Advisors on LinkedIn
• Lifeworks Advisors on Instagram
• Lifeworks Advisors on Facebook
• Lifeworks Advisors on YouTube
• Ron Bullis 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.

Jordan Montgomery is a performance coach, speaker, and the Founder and CEO of Montgomery Companies, a coaching and consulting organization. Jordan serves a diverse range of clients, including business executives from Fortune 500 companies, professional athletes, salespeople, and entrepreneurs. Jordan, a highly-regarded keynote speaker, has traveled the country and shared the stage with esteemed people such as NFL official Sarah Thomas, and best-selling author Ben Newman. In addition to his work as a coach and speaker, Jordan is a successful business leader who has managed top-performing sales teams in the financial services industry. He graduated with a Business degree from the University of Iowa and currently resides in Tiffin.

Jordan joins me today to discuss how financial advisors can build relationships with clients based on trust. He shares how he got into financial services and started his own consulting business. He explains why he focuses on adding value to people before asking for introductions and describes how this process helps him grow his network and business. He also highlights the power of social media and how financial advisors can leverage it to build relationships and trust with prospects and clients.

“People buy who you are, not what you do. Lead with who you are, and if people trust you, they’ll work with you and give you their business.” - Jordan Montgomery

This week on The Model FA Podcast:

• How Jordan got started in financial services and what prompted him to transition to consulting
• The power of asking for help and how Jordan built a successful consulting business
• The different ways to add value to other people
• What psychological income is and why asking for help is beneficial to the person you’re approaching
• The difference between being teachable and being coachable
• How Jordan leveraged his experience in financial services to work in collegiate and pro sports, as well as sales organizations
• The greatest reward for a person’s hard work and the best part about giving back
• Helping people move past complacency
• Prospecting up and using the “two camps” principle when asking for referrals and introductions
• The exponential relationship system and the importance of adding value inside and outside of business
• Why advisors need to increase their touchpoints with their clients
• Using social media to add value and build trust with prospects

Our Favorite Quotes:

• “Advisors need to practice patience more and do the right thing — instead of immediately going in to do sales.” - David DeCelle
• “We’re in the relationship business first, before we’re in the financial planning business.” - Jordan Montgomery
• “There are multiple ways you can market or brand, but the best clients come from referrals.” - David DeCelle

Connect with Jordan Montgomery:

• Montgomery Companies
• Montgomery Companies on Facebook
• Montgomery Companies on YouTube
• Jordan Montgomery on LinkedIn
• Jordan Montgomery on Instagram
• Jordan Montgomery 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.

Richard Chen is the Founder and Managing Partner of Richard L. Chen PLLC. Through his law firm, Richard provides practical legal advice to financial advisors, investment managers, and other financial institutions, helping them focus on serving their clients better. Richard completed his undergraduate degree in Government, with honors, at Harvard University and received his Juris Doctor degree from Harvard Law School. Richard is a person with blindness, but his visual disability only fuels his passion for serving others - whether it’s through motivational speaking, mentoring other people with disabilities, or providing free legal counsel to the underserved.

Richard joins me today to discuss why it’s vital for financial advisors to seek legal counsel when starting their own independent financial advisory firm. He explains the different provisions a financial advisor may need to agree with before leaving their current employer and starting their own business.  He describes many strategic and legal points a financial advisor will need to consider in succession planning. He also shares his advice on running a small business for the entrepreneurial financial advisor and highlights how his faith and desire to help others have inspired him to achieve great things in life.

“It’s important to get legal counsel when navigating these transitions. Depending on where the financial advisor is coming from, transitions can require some coordination.” - Richard Chen

This week on The Model FA Podcast:

• Legal matters financial advisors should consider before starting an independent firm
• Confidentiality, non-solicitation, and other legal obligations financial advisors may need to agree to before going independent
• Why financial advisors need to enlist the help of legal counsel when starting their own business
• What constitutes trade secrets and understanding the parameters of disclosure
• The Broker Protocol and how non-solicitation provisions vary in different states
• What counts for a violation of non-solicitation restrictions
• Strategic and legal considerations for succession planning
• The E-Myth, why it was impactful for Richard, and how to avoid getting overwhelmed as an entrepreneur
• Where Richard found the motivation to accomplish great things despite blindness
• Facing discrimination and proving doubters wrong
• The importance of taking things one step at a time

Resources Mentioned:

• Book: The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber

Our Favorite Quotes:

• “When a financial advisor is considering a transition from the broker-dealer space to the independent space, seeking legal counsel is the first step to take.” - David DeCelle
• “Being an entrepreneur means understanding the importance of working on the business as well as in it. Otherwise, it’s just another job.” - Richard Chen
• “Focusing on our higher purpose makes whatever we’re going through tiny compared to what we’re called to do.” - David DeCelle

Connect with Richard Chen:

• Richard L. Chen Website
• Email: [email protected]
• Richard Chen 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.

Eddy Ricci is a Founding Partner of The Pontem Group, a consulting firm and Lead-Advisor, a wealth management collective specializing in talent acquisition and leadership development.  With more than 15 years in the industry, Eddy’s niche and expertise have evolved into delivering insights, leveraging time, and offering a creative perspective to wealth management firms and practices to guide them through the process of acquiring and developing talent. In addition to helping companies build their teams, Eddy also wrote The Growth Game, a professional development book, and Miss Money Plan, a book that educates children on financial literacy.

Eddy joins me today to discuss how financial advisors can build their team. He shares his advice for evaluating appropriate candidates for the growth of a firm or practice. He explains why financial advisors should engage their existing team members in the pre-hiring and interview process and highlights the importance of testing candidates. He also underscores the value of understanding your organizational culture before recruiting a candidate and shares his favorite go-to questions that reveal a candidate’s aspirations and ideals.

“Financial advisors don’t spend enough time on talent acquisition. But there’s going to be a point when talent acquisition becomes as important as client acquisition.” - Eddy Ricci, CFP ®

This week on The Model FA Podcast:

• Getting the entrepreneurial itch and launching a business during a global pandemic
• How Eddy built the confidence to take the leap and start his company
• The right time for a financial advisor to consider hiring additional staff
• The selection and recruitment process
• Why financial advisors should engage their current team members in the pre-hiring process
• Questions financial advisors need to ask their team to get their buy-in
• Energy audit and creating a phantom organizational chart
• Prospecting methods to find talent for financial advisors
• Hiring for attitude and identifying non-negotiable skills 
• Why compensation should be stated in a role description
• The importance of giving candidates assessments before deciding to hire them
• Setting a meet-and-greet interview between a candidate and current team members
• Eddy’s favorite go-to questions for job interviews and the two most important things candidates look for in an opportunity
• Candidate red flags to watch out for when interviewing
• Tips when hiring for remote-working roles
• Scott Galloway’s disruption equation and how industries become disrupted amidst crises like a pandemic

Resources Mentioned:

• Book: Post Corona: From Crisis to Opportunity by Scott Galloway
• Book: Million Dollar Consulting: The Professional’s Guide to Growing a Practice by Alan Weiss
• Book: The Ensemble Practice: A Team-Based Approach to Building a Superior Wealth Management Firm by Philip Palaveev

Our Favorite Quotes:

• “Identify your culture — whether it’s within your business or with clients — or the culture you aspire toward.” - David DeCelle
• “All these should be done before you’ve interviewed somebody: engaging with your current team, coming up with a role description, and creating an onboarding plan.” - Eddy Ricci, CFP ®
• “Have a well-defined onboarding process for your clients, and they’ll continue to look for and notice amazing things.” -  David DeCelle

Connect with Eddy Ricci:

• The Pontem Group
• Lead-Advisor
• Email: [email protected]
• Email: [email protected]
• Book: The Growth Game: A Millennial’s Guide to Professional Development and the DAD System
• Book: Miss Money Plan: Part One: The Battle Against E-Motion
• Eddy Ricci 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.

Gary Zimmerman is Managing Partner at Six Trees Capital and Founder and CEO of MaxMyInterest, an automated online solution that helps investors earn more on their cash balances. Before founding MaxMyInterest amid the global financial crisis, Gary had been an investment banker for Citigroup, where he advised funds with more than $5 trillion in assets under management as Managing Director and Global Head of Strategic Solutions for Sovereign Wealth Funds. Gary completed his degree in Economics Magna cum Laude at Harvard University and completed an executive education program at the Wharton School of the University of Pennsylvania.

Gary joins me today to discuss how MaxMyInterest helps financial advisors and their clients earn more on their cash in the bank. He discusses how he became interested in economics and the financial industry and shares how his curiosity and propensity for problem-solving drove him to start his own company. He explains why cash is a bad asset class and how advisors can talk to their clients about cryptocurrency. He also highlights why putting profit over clients is bad for business and underscores the key characteristics that make a great financial advisor.

“Understanding human emotions and being able to hold the hands of clients to keep them steady is a key feature of a good advisor.” - Gary Zimmerman

This week on The Model FA Podcast:

• Gary’s background, why he switched majors from biochemistry to economics, and his beginnings in the banking industry
• Why Gary loves working with fiduciaries and RIAs
• How to talk to clients about cryptocurrency
• Gary’s tips for avoiding burnout and the best part about working in the banking industry
• The value of learning within and outside of your profession
• Making the entrepreneurial leap and why Gary took the risk to start his own company
• The faults in brokerage deposit solutions and the benefits of online banks
• Classic company founder mistakes and the average amount of assets high net-worth households keep in cash
• How MaxMyInterest evolved into an AUM growth tool for financial advisors
• MaxMyInterest’s hub-and-spoke system and how it works
• The exponential relationship system and how to turn clients into raving fans
• Why Gary thinks brokerage dealers would only use MaxMyInterest when there’s competitive pressure
• What makes the best financial advisors

Resources Mentioned:

• Book: Liar’s Poker by Michael Lewis

Our Favorite Quotes:

• “Instead of thinking of it as ‘sacrificing,’ think of it as ‘investing’ in whatever it is you’re pursuing — and know that it’s all for something.” - David DeCelle
• “If you’re not looking out for your client’s best interest, it’s hard to see how you can be a good business in the long term.” - Gary Zimmerman
• “Rather than being a salesperson, do your best to intentionally and thoughtfully advance the relationship.” - David DeCelle

Connect with Gary Zimmerman:

• MaxMyInterest
• Six Trees Capital
• MaxMyInterest on LinkedIn
• MaxMyInterest on Instagram
• MaxMyInterest on Twitter
• Gary Zimmerman 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.