In this episode of the Modern Financial Advisor Podcast, host Mike Langford is joined by Adrian Johnstone, CEO of Practifi, to discuss the pivotal role of CRM systems in financial advisory firms.

They explore the debate between the importance of custodial systems versus CRMs, emphasizing the value of maintaining rich client relationships. The discussion also covers the concept of viewing technology as an investment rather than an expense, the scalability of CRM systems, and the potential future of AI in the industry.

Perfect for advisors looking to gain insights on leveraging technology to enhance their client relationships and operational efficiency.

Chapters:

00:00 The Debate: Custodial System vs. CRM

00:44 Introduction to the Podcast and Guest

01:53 The Importance of Client Relationships

04:24 The Role of CRM in Client Records

17:15 Technology Adoption in Financial Advisory

25:37 The Value of Technology in Financial Services

26:18 Technology as an Investment, Not an Expense

27:06 Maximizing Technology's Potential

32:14 The Future of Technology in Financial Advisory

34:23 Human Connection in the Age of Technology

40:41 Scalability and Integration in Financial Technology

51:44 The Importance of Standardized Integration

54:04 Conclusion and Final Thoughts

In this episode of the Modern Financial Advisor Podcast, host Mike Langford engages in a thought-provoking conversation with Felipe Toews, CEO of Toews Asset Management and author of 'The Behavioral Portfolio: Managing Portfolios and Investor Behavior in a Complex Economy.'

Delve into the intricacies of behavioral finance, market timing challenges, and the crucial role of effective advisor-client communication. Discover why Felipe believes that traditional portfolio management strategies might be leading advisors and clients astray, especially when considering unexpected market scenarios and significant losses. This episode offers valuable perspectives on educating investors and rethinking portfolio construction to better navigate a complex economic landscape. Don't miss this insightful discussion that could transform how you communicate with your clients and approach portfolio management.

Chapters:

00:00 Understanding Economic Perceptions

00:45 Introduction to the Podcast

02:12 Guest Introduction: Felipe Toews

03:54 Behavioral Finance 101

07:47 Challenges in Market Timing

14:40 The Importance of Proactive Communication

21:20 Historical Market Analysis

27:44 Economic Growth and Inflation Challenges

29:25 Behavioral Portfolio Design

31:40 Critique of Traditional Investment Strategies

33:39 Adapting to Market Changes

36:22 Addressing Investor Behavior

44:12 Crypto and Speculative Investments

49:29 Future Economic Risks and Portfolio Strategies

55:44 Conclusion and Final Thoughts

Join host Mike Langford in this episode of the Modern Financial Advisor Podcast as he interviews Greg Bogich, CEO of AcquireUp. Discover how seminars can be an effective strategy for growing a financial advisory business. Greg discusses the benefits of seminars, including filling the room with qualified prospects, the psychological advantages of face-to-face interactions, and the importance of being perceived as an expert.

Learn how AcquireUp helps financial advisors target the right audience and provides coaching to deliver compelling seminars. Whether you're a solo advisor or part of a larger RIA, this episode offers valuable insights into achieving scalable growth and converting prospects into long-term clients.

Chapters:

00:00 The Challenge of Cold Calling in Sales

00:41 Introduction to the Modern Financial Advisor Podcast

01:59 Guest Introduction: Greg Bogich from AcquireUp

03:36 The Problem of Slow Growth in Wealth Management

05:00 The Struggles of New Financial Advisors

07:40 The Importance of Referrals and Their Limitations

11:08 The Effectiveness of Seminars for Financial Advisors

16:51 Targeting the Right Audience for Seminars

22:03 Educating Advisors on Effective Marketing

24:27 Understanding Seminar Attendance and Conversion Rates

26:11 The Importance of Re-engaging Non-Attendees

28:59 Effective Seminar Presentation Techniques

29:55 Training Advisors for Successful Seminars

37:39 The Value of Investing in Marketing

45:46 The Unique Appeal of the Financial Advisory Industry

47:56 Conclusion and Final Thoughts

In this episode of the Modern Financial Advisor Podcast, host Mike Langford is joined by Arnim Holzer, Global Macro Strategist at Easterly EAB, for an insightful discussion on market volatility and the need to rethink traditional asset allocation models. They explore the historical context of Modern Portfolio Theory, its simplifications, and why its assumptions may not hold in today's economic environment.

The conversation delves into the instability of asset correlations during periods of volatility, the impact of macroeconomic conditions, and the importance of incorporating volatility-sensitive strategies into portfolios. Advisors can benefit from practical advice on how to use high Sortino ratio funds and strategies to manage downside risks and enhance client portfolio resilience.

The episode also touches upon the relevance of active versus passive management, the implications of the global pandemic on markets, and the importance of client perception of portfolio performance.

Chapters

00:00 Introduction and Episode Overview

01:10 Guest Introduction: Arnim Holzer

01:24 Casual Conversation: Weekend Plans

02:21 Diving into Market Volatility

03:01 Challenging Traditional Asset Allocation Models

05:22 Flaws in Modern Portfolio Theory

06:27 Correlation and Volatility in Asset Allocation

16:06 Impact of Fed Policy on Market Correlations

24:00 Impact of the Pandemic on Inflation

24:55 Housing Market Dynamics During the Pandemic

26:13 The Fed's Response and Fixed Income Challenges

27:00 Volatility and Portfolio Management

28:36 Advisors' Role in Managing Volatility

31:25 Optimizing Portfolios with High Sortino Ratios

36:46 The Importance of Risk Management

42:40 Connecting with Arnim Holzer

44:20 Conclusion and Farewell

In this episode of the Modern Financial Advisor Podcast, Steve Vecchione and Scott Schuebel of Statera Advisors and Statera Retirement join Mike Langford to share their innovative approach to retirement planning.

After watching or listening to this conversation, it might be hard for financial advisors not to wonder “Have I been using the wrong methodology for retirement planning all these years?”

Chapters

00:00 Introduction and Episode Overview

01:19 Meet the Guests: Steve Vecchione and Scott Schuebel

02:03 The Origin Story: How Steve and Scott Joined Forces

02:55 Challenging Conventional Retirement Planning

04:42 Developing a New Retirement Strategy

12:48 Addressing Retirement Risks

18:24 The Importance of Internal Rate of Return

26:14 Understanding Internal Rate of Return (IRR)

26:41 Time-Weighted Rate of Return (TWR) Explained

27:26 Comparing TWR and IRR in Portfolio Management

28:56 Impact of Market Conditions on Returns

30:20 Strategies for Retirement Planning

40:37 Purpose-Driven Dollar Concept

46:06 Balancing Risks for Optimal Returns

49:30 Conclusion and Final Thoughts

In this episode of the Modern Financial Advisor Podcast, host Mike Langford chats with Terry Mullen, Chief Revenue Officer of Fispoke, about how financial advisors can now offer comprehensive banking services to their clients.

Once exclusive to wirehouse advisors, these services are now accessible to RIAs and independent financial advisors, thanks to new technology and banking arrangements. Mike and Terry discuss the evolution of financial advice, the immense market potential, and the transformative power of integrating banking solutions for financial advisory businesses.

Learn about how Fispoke is bridging this gap, the opportunities for growth, and the future of comprehensive financial planning. Don't miss out on this insightful conversation that could change the way you offer financial advice!

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

• How Financial Advisors Can Help Clients Navigate The Black Box of Healthcare Costs - Mike mentioned the parallels between the work that Drew Schockley and the team at Move Health are doing for financial advisors and their clients on the health insurance landscape. Like banking, every client is going to have health care needs. As a financial advisor, you should be offering sound advice on areas like these that affect your clients’ financial lives in significant ways.
• Episode 1 - The Truelytics Origin Story with Terry Mullen - As Mike mentioned in this episode, Terry Mullen was the first ever guest on the podcast back when it was actually called The Valuations Podcast. Jump in the time machine and give it a listen.

Chapters

00:00 Introduction and Episode Overview

01:26 Guest Introduction: Terry Mullen

01:36 The Evolution of Financial Advisory Services

02:52 The Next Wave: Comprehensive Banking Services

03:38 Identifying the Problem and Market Opportunity

05:28 Fispoke's Integrated Banking Solutions

10:45 Growth Opportunities for Financial Advisors

17:17 Future Prospects and Closing Thoughts

19:09 The Impact of Healthcare on Job Mobility

19:50 Breakaway Advisors and Wirehouse Firms

20:53 Fispoke's Integration with Independent Broker-Dealers

21:45 The Role of Technology in Financial Advisory

23:45 The Future of Banking Advisors

28:48 Fispoke's Banking Partnerships

29:50 Technology Integration with Advisor's Tech Stack

32:55 The Benefits of Smaller Banks

34:09 Conclusion and Contact Information

In this episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Dr. Emily Koochel, Manager of Financial Wellness at eMoney Advisor, to explore the critical role of the human advisor in an increasingly AI-powered world.

They discuss how AI can be used as a tool to enhance efficiency, personalize client experiences, and maintain trust, rather than replacing human advisors. With compelling data and practical insights, this episode aims to help financial advisors feel more confident in integrating AI into their practices.

Chapters

00:00 Introduction and Guest Welcome

00:12 The Human Element in Financial Advice

00:59 Podcast Subscription and Contact Information

01:29 Conversation with Dr. Emily Koochel Begins

01:45 Weekend Plans and Personal Anecdotes

02:23 AI's Impact on Financial Advisory

02:54 Dr. Koochel's Unique Qualifications

05:20 Understanding Financial Therapy

08:54 Financial Socialization and Childhood Influences

11:32 AI in Financial Planning: Opportunities and Concerns

17:25 The Importance of Human Connection

20:16 Generational Perspectives on Financial Advice

23:10 Emotional Conversations in Financial Planning

26:36 Practical AI Integration for Advisors

27:35 Exploring AI Integration in Financial Services

27:57 Identifying and Automating Manual Processes

28:47 Prioritizing High Impact, Low Risk AI Solutions

29:28 Familiarizing with AI Technologies

34:29 Personalization at Scale with AI

41:32 Building and Maintaining Trust in Client Relationships

51:52 Conclusion and Final Thoughts

Jake Claver, of Digital Ascension Group joins Mike Langford for an exploration of the growing importance of digital assets in wealth management.

They discuss the concept of 'digital lottery winners'—clients who have gained significant wealth through cryptocurrencies—and the necessity for financial advisors to adapt to this new landscape. Jake also dispels a few common myths that financial advisors may have about who is investing in crypto and digital assets.

The conversation also touches on the risks associated with holding digital assets and the future of regulation in the crypto space. The conversation highlights the opportunities for financial advisors to engage clients in discussions about digital assets, the potential impact of regulation on the market, and predictions for the future of transactions in a digital economy.

Chapters

00:00 Introduction to Digital Assets and Wealth Management

03:01 Understanding Digital Ascension Group's Services

07:59 The Rise of Digital Lottery Winners

09:23 The Importance of Advisors in the Crypto Space

15:32 Institutional Custody Explained

22:10 The Risks of Holding Digital Assets

24:37 Understanding Institutional Custody in Crypto

25:57 The Profile of Digital Lottery Winners

28:00 The Role of Financial Advisors in Crypto

30:29 Opportunities for Financial Advisors

32:27 Engaging Clients with New Asset Classes

34:15 The Future of Financial Products on Blockchain

36:29 The Impact of Regulation on Crypto

40:28 Market Predictions and Economic Insights

45:19 The Future of Transactions in a Digital Economy

Drew Shockley, Co-Founder of Move Health joins Mike Langford to explore how financial advisors can help their clients tackle one of the biggest obstacles that many are likely going to face at some point in their life…

Finding a health care plan that they can afford and that works within the framework of their overall life goals.

Chapters

00:00 Introduction to Healthcare Challenges

02:45 The Role of Financial Advisors in Healthcare Planning

06:05 Understanding the Healthcare Landscape

08:52 Target Demographics for Healthcare Solutions

11:59 The Importance of Age 55-64 in Healthcare Planning

14:56 Myths About Health Insurance

18:12 The Impact of the Affordable Care Act

21:05 The Shift in Financial Advisory Services

24:10 The Modern Financial Advisor as a Quarterback

27:59 The Financial Playbook: Strategies for Retirement Planning

34:52 Navigating Healthcare: The Role of Financial Advisors

40:56 Unlocking Freedom: Transitioning Clients to Retirement

46:43 The Future of Healthcare: Insights on the Affordable Care Act

Jason Britton, CEO of Reflection Analytics joins Mike Langford to discuss the transformative power of values-based investing. They explore how financial advisors can help clients align their investment portfolios with their personal values, moving beyond traditional metrics of financial success. The conversation delves into the evolution of financial advice, the importance of understanding client values, and the challenges of navigating polarized discussions around investment choices. Jason emphasizes the need for genuine discovery in client conversations and the role of behavioral economics in understanding client motivations.

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Chapters

00:00 Introduction to Values-Based Investing

02:51 The Evolution of Financial Advice

09:22 Defining Values in Investing

15:11 The Importance of Discovery in Client Conversations

20:38 Navigating Polarization in Values Discussions

27:10 The Complexity of Values-Based Investing

29:02 The Pursuit of Consistency Over Perfection

30:53 The Role of Corporations in Society

32:42 The Myth of a Free Market

34:37 Subsidies and Public Good

36:33 The Value of Innovation and Risk

38:30 Wealth Creation and Shared Value

40:54 The Interdependence of Corporations and Society

42:47 Personal Values in Investment Decisions

44:40 The Future of Values-Based Investing

46:38 Engaging Clients in Financial Conversations

50:55 The Dual Nature of AI and Technology