Next Mile

Episode 046: In this episode of The Connected Advisor, Kyle talks with Sammy Azzouz, President and CEO of Heritage Financial Services. In his role, Sammy leads a dynamic organization that provides meticulous wealth management services to clients. He keeps the firm at the cutting edge of the wealth management industry by charting a long-term strategic course and driving the execution of the firm’s strategic initiatives. Sammy is also the author of Beyond the Basics: Maximizing, Allocating, and Protecting Your Capital, and the host of Heritage Financial's podcast, Wealthy Behavior.

Sammy talks with Kyle about his journey from law school to wealth management and the importance of providing comprehensive financial services to clients. He emphasizes the value of breaking down silos and having holistic conversations about money. Sammy also shares insights on the industry's future, the role of technology in supporting advisors and enhancing the client experience, and the need for firms to focus on organic growth.

In this episode:

Key Takeaways

Quotes

[03:20] - "Money is probably the most stressful thing that people deal with. If you can help people with it, you can have a huge impact on their lives." ~ Sammy Azzouz

[09:09] - "As you grow, you have more resources to reinvest into the client experience and your team. You want to start thinking strategically about those additional services to add value to the client and dig deeper into a pathway you've already set for yourself." ~ Sammy Azzouz

[13:58] - "Employee ownership is important. It's important for multiple people to think day in and day out like business owners. Owners are definitely better than renters in a company, and it's something important and helpful in our industry." ~ Sammy Azzouz

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Episode 045: In this episode of The Connected Advisor, Kyle is joined by Brian Preston, Managing Partner at Abound Wealth Management and the Founder and Host of The Money Guy Show. Brian is a third-generation educator, and this desire to create educated clients led to the award-winning YouTube channel and podcast, The Money Guy Show. The Money Guy Show has been broadcasting for more than 15 years, and Brian has appeared on the Fox Business Channel and US News.

Brian talks with Kyle about his book, Millionaire Mission, and discusses the financial order of operations, a nine-step system for managing money and building transformative wealth. An award-winning content creator and managing partner of a fast-growing RIA in Tennessee, Brian also shares the secrets to creating great content and the key to building wealth.

In this episode:

Key Takeaways

Quotes

"Anytime I meet a young person, I try to tell them about the wonderful world of personal finance. I think this is the greatest profession. You can make a great living for your family and employees. You also go to sleep at night, knowing you added a lot of value to everybody." ~ Brian Preston

"There's a new breed of influencers and people out there in the financial space who are telling you that financial advisors are not what you need. So, you better make sure that you can tell people what and how you add value, and then you also need to make sure you're doing the things that you're telling people." ~ Brian Preston

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Episode 44: In this episode of The Connected Advisor, Kyle talks with Scott Colangelo, Chairman and Managing Partner at Prime Capital Investment Advisors (PCIA) and Managing Director of Qualified Plan Advisors (QPA). Scott has earned several industry awards and recognition for his vision, leadership, and innovation. He leverages his industry knowledge and expertise to create customized solutions that help clients achieve their financial goals and objectives. Scott is also passionate about empowering clients with education, guidance, and tools that enhance their financial well-being and security.

Scott talks with Kyle about the collaborative nature of local wealth management firms in Overland Park, Kansas. He also discusses the four pillars of a healthy firm: wealth, retirement, education, and production. Scott believes that clients will continue valuing education and personalized guidance and that technology will free up advisors' time to build relationships. Scott shares his optimism about the industry's future, emphasizing the importance of technology and AI in enhancing client relationships. 

In this episode:

Key Takeaways

Quotes

"There are simple ways for us to grow this industry, grow our practices, get more efficient, and scale better, and you can still be just as good of a fiduciary." ~ Scott Colangelo

"Alignment is everything. If we're all rowing at 100% and one person is rowing at 99%, we'll eventually go a big circle and end up back where we started." ~ Scott Colangelo

"If you get somebody in a good financial spot, their kids learn from that, their grandkids learn from that. They're happier in retirement. This is real impact stuff, and you're going to make more money because you're going to end up getting all their business whenever they have needs." ~ Scott Colangelo

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Episode 043: In this episode, Kyle talks with Justin Steitz, President at Copper Financial. In his role, he leads sales, investment operations, compliance, and audits for the CommunityAmerica advisor channel and the broker-dealer business unit. Justin is dedicated to the credit union mantra of "people helping people" and focuses on giving back to the community. With a strong background in compliance, he is well-versed in the highly regulated wealth management industry. Before joining the Copper Financial team, Justin served as Chief Compliance Officer for Ausdal Financial Partners, Inc., where he led the effort to build an in-house broker-dealer.

Justin talks with Kyle about the unique challenges and opportunities of serving the credit union space. He highlights the importance of philanthropy and community in the credit union industry and how Copper Financial is dedicated to helping credit union members invest and improve their financial well-being.

Join us as we discuss:

Key Takeaways

Quotes

"It doesn't matter if it's $500 or $5 million, we're going to work with them. And that was my moment of 'I'm all in.' I build products and services for credit union members to invest in. I love to help people. And it went into that mantra of people helping people. Now, I get to do it in the industry I love and help change people's lives." ~ Justin Steitz

"We can be the entry point, not only digitally, and get you to start investing. Then, we have the financial advisors to grow and morph into. It's a one-stop shop." ~ Justin Steitz

"It comes down to survival of the fittest with the amount of technology that's in the space. You've got to be spending money on technology in order to compete, or a customer or a member is going to go somewhere else where they have that." ~ Justin Steitz

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Episode 042: In this episode of The Connected Advisor, Kyle talks with Jason Gordo, Co-founder and President of Modern Wealth Management. Jason is an accomplished wealth management executive with a diverse background in business strategy, execution, and mergers and acquisitions. He is known for his expertise in integrating tax planning into the financial planning process, helping clients optimize their financial strategies, and minimizing tax liabilities. Before joining Modern Wealth's founding team, Jason was a Managing Director at Goldman Sachs Personal Financial Management.

Jason and Kyle discuss Modern Wealth's unique approach to managing wealth, mergers and acquisitions, and client retention. He shares insights into their M&A strategy and how they identify firms that align with their culture and business model. Their conversation highlights the importance of building strong relationships and providing exceptional client service.

In this episode:

Key Takeaways

Quotes

"I want to positively impact the people around me and the lives of the clients who have trusted me with their finances. We're giving CPAs in our business that same opportunity. We're trying to make it fun, engaging, and rewarding so that they're able to truly impact people's lives." ~ Jason Gordo

"Anytime I talk to a potential partner, I talk about three different buckets: cultural fit, business model fit, and the currency makeup of a transaction." ~ Jason Gordo

"Our focus every week is simple: find exceptional people who we believe would be great partners, who we believe would have a lot of fun together, and build a great company." ~ Jason Gordo

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Episode 041: In this episode of The Connected Advisor, Kyle talks with Melissa Bouchillon, Managing Partner at Sound View Wealth Advisors. With a background in psychology and education, Melissa brings a different perspective to the financial advisory industry. In addition to her passion for helping her clients, Melissa is on the board of organizations near and dear to her heart, including the Landings Military Relief Fund, Marshes of Skidaway Island, and the Savannah Music Festival. 

Melissa talks with Kyle about her unique approach to marketing in financial advisory. She shares how her background in psychology and education has helped her as a financial advisor. Melissa highlights the significance of simplifying complex financial concepts for clients and the role of technology in driving efficiency and enhancing client experiences. 

In this episode:

Key Takeaways

Quotes

"A really great sign of understanding material and a subject matter is being able to explain it in a way that's not fancy and uses all the jargon but simply allows people to take action." ~ Melissa Bouchillon

"Most of our decision-making is all around doing what's best for our clients first and foremost and then what's best to support the people working with us so that they really are giving our clients their best work." ~ Melissa Bouchillon

"Taking the role of mentoring seriously and making sure you have people within your firm who are willing to provide guidance to the new hires and the folks working at the firm is mission-critical." ~ Melissa Bouchillon

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Episode 040: The traditional path to building a business is often painted as a clear roadmap, following established blueprints and pre-defined steps. But, some founders follow a different playbook — one that focuses on the human element of business, fostering an environment that becomes a breeding ground for personal and professional growth.

In this episode, Kyle talks with Benj Miller, Co-Founder & CEO of System & Soul. Benj is a proven entrepreneur who values character, culture, and innovation. In 2021, he co-founded System & Soul, a business operating framework that teaches leadership teams how to find unity, get healthy, and be more effective. Benj has also founded other marketing and software businesses, authored The Clarity Field Guide, and co-hosted the System & Soul Podcast.

Benj talks with Kyle about the importance of having a renegade spirit in business. He explains how System & Soul differs from other operating systems and why businesses should focus on people development and business growth. Benj also provides insights into leadership development and offers practical advice for RIAs looking to build successful and fulfilling businesses.

Join us as we discuss:

Key Takeaways

Quotes

"If you're building an RIA, don't be afraid to look outside your industry to bring in the best talent you need who are business builders. We need business builders, or else we'll just be stuck with plateauing or very linear growth based on individual books of business." ~ Benj Miller

"Logically, it's just dumb to start a business. But there's something in a renegade that has to do it. The risk of regret is worse than the risk of failure." ~ Benj Miller

“The world needs your renegade spirit, your renegade energy. There are some things the business might need to do to grow and you might have to do some things to shift from a renegade founder to a renegade leader. But please, please, please don't lose that renegade spirit.” ~ Benj Miller

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Episode 039: The wealth management industry is moving beyond asset allocation and investment management. Clients require a broader suite of services, encompassing areas like tax planning, estate planning, and retirement accounts. Adero Partners recognizes these trends and is expanding its service scope to cater to its clients' evolving needs, signifying the firm's focus on providing a more comprehensive wealth management experience, and acting as the central advisor or family CFO for their clients.

In this episode of The Connected Advisor, Kyle Van Pelt talks with Aaron White, Chief Growth Officer at Adero Partners. Aaron brings years of experience to the conversation in pre-liquidity planning, wealth transfer, private investments, and tax strategy. Before joining Adero, he worked as a business valuation and litigation consultant for a regional accounting firm. In his current role, Aaron focuses on providing comprehensive wealth management services to clients, with expertise in tax planning, estate planning, and alternative investments.

Aaron talks with Kyle about the evolving landscape of the financial advice industry and how Adero is adapting to meet clients' changing needs. He shares how Adero provides comprehensive planning services, including tax planning, estate planning, and 401(k) assistance. Aaron also discusses the firm's use of technology, such as AI and LLMs, to enhance client experiences and improve efficiency. 

Join us as we discuss:

Key Takeaways

Quotes

"The qualified small business stock exclusion is one of the most significant potential tax savings opportunities. The maximum exclusion is $10 million for capital gains. If you're in a state that conforms to federal QSBS, you can save another 10% plus for some high-tax states. That's a pretty significant savings." ~ Aaron White 

"Our role with our clients is to be the family CFO or the central advisor that they look to to coordinate and execute on all their tax planning and financial strategy." - Aaron White

"Oftentimes, we find that an estate plan was done and signed, but they didn't actually follow through on it. And so that's something that we can help with and make sure that you actually benefit from all the money you spent and the documents you created." ~ Aaron White

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Episode 038: In this episode of The Connected Advisor, Kyle Van Pelt is joined by John Barrows, Founder and CEO of JB Sales. John has a wealth of experience in all aspects of business and sales, from making 400 dials a week to leading a self-funded team from startup through acquisition, starting his own business, and now working with some of the world's fastest-growing and most dynamic companies. He believes that, when done right, sales is one of the greatest professions in the world, but when done wrong, it's one of the worst. 

John talks with Kyle about bringing rainmakers back to the financial services industry. They delve into the challenges sales professionals face and the need for a strong work ethic to succeed. John emphasizes the value of having a plan, working hard, and consistently adding value to clients. He also shares practical tips on how to cut through the noise, build a personal brand, and leverage AI in sales and marketing.

Join us as we discuss:

Key Takeaways

Quotes

"Touching base and checking in should be erased from every sales rep's and producer's vocabulary. They should start every conversation with, 'The reason for my call is.' If you cannot finish that sentence, you should not make the phone call. And it better be something better than, 'I'm going to sell you something.'" ~ John Barrows 

"Most people don't build their brands because there are no short-term results and no short-term gratification to it. A brand is a long-term play, but especially in this world of AI, if you are not working on your brand, AI is going to take over your brand." ~ John Barrows 

"There's always somebody one step ahead of you, and there's always somebody one step behind you. Follow the people who are one step ahead of you, consume their content, and then translate it down to the people who are one step behind you." ~ John Barrows

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Episode 037: The pace of technological change is rapid, to say the least. But change often brings with it exciting opportunities. Technology innovation presents nearly endless possibilities and potential to improve how firms and advisors operate and serve their clients. 

In this episode of The Connected Advisor, Kyle Van Pelt talks with Mark Delato, Managing Partner and COO at Simon Quick Advisors. Mark plays a significant role in providing comprehensive financial advice to high-net-worth individuals and families, and he brings years of experience to the discussion of rapidly changing technology. 

In this wide-ranging conversation, Kyle and Mark talk about the transformative effects of AI and technological innovation on wealth management. They also discuss the challenges of integrating family office services within an RIA framework, focusing on the importance of multi-generational teams, goal-based financial planning, and maintaining a high-quality customer experience while scaling personalized advisory services. Mark emphasizes the need for a cohesive technology platform to support operational efficiency and to meet the evolving demands of clientele, while also reflecting on his personal motivations in finance, inspired by his grandfather's financial wisdom.

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Key Takeaways

Quotes

“The independent advisor community certainly has been more in tune, I think, with the goals-based planning approach for many, many years now. Having those kinds of deeper meaning conversations, whether it's philanthropic giving or whether it's providing the next generation and beyond with wealth. Those softer conversations are what's leading the charge to get people to actually enjoy their wealth.” ~ Mark DeLotto

“The service standard, simply put, is just excellence. And it permeates from the top. You have to treat every client like they're all the only client.” ~ Mark DeLotto

“To me, it all comes down right now, at this point, to data — data quality, single source of truth, where is everything and how can we get it. And it's still a challenge for us, and what I've been focused on the last three to four months is, how can we improve on that?” ~ Mark DeLotto

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