The Confident Advisor Practice Podcast

Adam Figura welcomes Jon Randall of XFA to discuss why marketing isn't the real obstacle to scaling an advisory business—capacity is. They unpack the top constraints that stall growth, how to optimize your client mix, boost revenue per client, leverage team capacity, and create a more scalable, profitable practice. Jon also shares real benchmarks, industry data, and practical strategies that top-performing Barron's 100 firms use to grow smarter.

Timestamps & Chapters

00:01 – Welcome & Set-up Adam frames the episode: the biggest scaling issue isn't leads—it's bottlenecks. Jon Randall joins to talk solutions.

00:56 – Guest Intro Jon shares his excitement to contribute and set the stage.

01:02 – The Real Growth Ceiling "More, more, more" mentality hits a wall. Top firms grow by focusing on quality over quantity.

02:37 – Rising Demand, Shrinking Supply Jon cites studies predicting a 100,000-advisor shortage by 2034. Quality-focused firms are best positioned to thrive.

03:02 – Psychology of Change Advisors cling to familiar playbooks. Scaling requires embracing new roles, uncomfortable changes, and delegation.

04:49 – Capacity Management: The Biggest Constraint To reach 8–9 figures, advisors must shift from being the main producer to leveraging other advisors' capacity.

05:35 – Benchmarks & Bottlenecks Owner vs. team capacity benchmarks: most firms are overloaded and clogged with sub-profitable clients.

07:42 – Focusing on the Top 20% Adam and Jon highlight narrowing focus to the best clients and delegating the rest.

08:12 – Building Capacity Through Service Advisors Real-world example: loading great service advisors with less than 200 clients driving $1.5M in revenue.

08:55 – Two Models That Work Boutique vs. scale—both are valid, but growth requires avoiding client hoarding at the top.

10:09 – Revenue Per Advisor = Revenue Per Client Identify and eliminate low-revenue anchors to free capacity.

10:37 – Pricing and Add-On Revenue Streams Strategically adding planning fees and other services can boost topline by 50–100%—without more clients.

12:58 – Clients Will Pay for Planning Planning services average $3,000 annually. Start by making them available.

14:22 – Overcoming the "How Do I Charge Now?" Objection Jon explains how to reposition value so pricing becomes natural.

16:43 – Segmentation and Optimization Create tiers, increase top-end value, and confidently transition or sell lower-tier clients.

19:11 – Referrals Drive Real Growth 73% of new clients come from existing clients, 24% from COIs. All other channels = just 3%.

20:10 – Narrow Niches Win Identify 1–3 connector clients, go deep, and replicate success.

22:24 – Benchmark Your Firm Know where you stand, where you're stuck, and where the opportunities lie.

23:32 – Resource Mention: xfa.coach — Free XFA Growth Guide to benchmark and identify growth constraints.

24:00 – Final Words & Encouragement Advisors who level up now are positioning themselves to thrive in a high-demand, low-supply future.

24:35 – Closing Adam thanks Jon and wraps the episode.

Key Takeaways

• Capacity, not marketing, is the real growth choke point.
• Quality v. Quantity: Focus on profitable clients, not just more clients.
• Raise revenue per client: Add planning fees and other value streams.
• Referrals are gold: Existing clients and COIs drive nearly all new growth.
• Benchmark and act: Know your bottlenecks so you can break through.

🔑 Notable Quotes

• "It's not marketing—it's capacity."
• "The things that got you here won't get you there."
• "Referrals come from focus, not just volume."

📲 Connect with XFA

• Website: xfa.coach
• Free Growth Guide for Advisors: Benchmark your practice and identify opportunities to scale smarter.

⚠️ Disclosure

The views depicted in this material are for informational purposes only, and are not necessarily those of Cetera Advisors, LLC. They should not be considered specific advice or recommendations for any individual. Neither Cetera Advisors, LLC nor any of its representatives may give legal or tax advice.

Pete Bush, Bill Bush, and Andy Bush are registered representatives offering securities and advisory services offered through Cetera Advisors, LLC, member FINRA/SIPC, a broker dealer and registered investment adviser.

Adam Figura is a registered administrative assistant of Cetera Advisors LLC, member FINRA/SIPC.

Today's guest is not affiliated or registered with Cetera Advisors, LLC. Any information provided by our guest is in no way related to Cetera Advisors, LLC or its registered representatives.

Cetera is under separate ownership from any other named entity. 15015 Jamestown Boulevard, Suite 100. Baton Rouge, LA 70810

Episode Summary

Adam sits down with Vincent Randazzo, CMT, to unpack why every advisor needs a repeatable, rules-based risk management framework—and how Vincent's Defender Program helps advisors dial exposure up or down through full market cycles. They cover common mistakes during drawdowns, the "smart buy-and-hold" approach, preserving client (and advisor) psychological capital, and what century-long market breadth data really says about major tops.

Chapters

• 00:00 – Welcome & Guest Intro Adam introduces Vincent Randazzo, CMT, his technical research background, and the Defender Program's purpose: systematic, risk-managed equity overlay.
• 01:21 – Why a Repeatable Risk Framework Matters Mindset + preparation = confidence. Without a framework, advisors default to headlines and emotions; with one, they lead the client conversation.
• 03:22 – The Biggest Mistake in Downturns Waiting too long to act. Post-decline selling creates a painful decision tree (when/why to get back in) and can impair long-term compounding.
• 04:50 – Inside the Defender Program Subscription service delivering real-time signals to reduce risk ahead of deeper drawdowns while preserving most upside participation; an adaptive overlay that complements existing strategies.
• 07:14 – Origin Story & Motivation Lessons from 2002 and 2008–09: portfolios can take hits that take years to recover. Make discipline automatic so advisors can turn uncertainty into opportunity.
• 09:09 – Simpler Decisions, Lower Stress Clear rules reduce second-guessing. A process keeps advisors calm, protects "psychological capital," and reduces hand-holding during volatility.
• 11:13 – Differentiation & Demonstrating Value In a world of cheap beta, robos, and AI, clients still expect protection when markets get ugly. Show you've planned for that scenario.
• 13:33 – "Smart Buy-and-Hold" vs. Static Buy-and-Hold The compounding math is path-dependent. Dial back exposure when probabilities turn against you; lean back in as conditions improve. Use simple language and analogies with clients.
• 15:50 – What 100+ Years of Market Breadth Says "The market whispers before it shouts." At final tops, breadth is often weak even while cap-weighted indexes look fine—an under-the-hood red flag.
• 18:27 – Implementing a Systematic Framework Competence + confidence are what clients buy. Consistency creates clarity; clarity creates confidence—and stronger relationships through cycles.
• 19:58 – Two Takeaways for Advisors (1) Use risk management as the easiest lever to improve outcomes. (2) Minimize down years to dramatically improve the compounding equation.
• 21:31 – Where to Learn More Website, LinkedIn, and email for the Defender Program and ViewRight Advisors.
• 22:19 – Closing & Thanks Adam wraps with a focus on clarity, process, and client confidence.

Key Takeaways

• A rules-based framework keeps you leading—not reacting—to markets.
• Acting late (post-decline) is usually more damaging than modest, rules-driven de-risking.
• Manage psychological capital for both you and clients.
• A "smart buy-and-hold" approach adjusts exposure as probabilities shift.
• Breadth weakens before headlines—watch under the hood, not just the index.
• Consistency → clarity → confidence —the engine of durable client relationships.

QUOTES

• "Think of risk management like insurance for your biggest financial asset—your book of business."
• "The market usually whispers before it shouts."
• "Clear rules stop the second-guessing."
• "Consistency creates clarity, and clarity creates confidence."
• "The seatbelt doesn't keep you from driving—it minimizes damage when you hit a bump."
• "If you control the risk side, the compounding math gets exponentially better."

Guest & Resources

• Vincent Randazzo, CMT — Founder, ViewRight Advisors
• Website: https://viewright.ai
• Email: [email protected]
• LinkedIn: Vincent Randazzo, CMT
• Program Mentioned: Defender Program — a systematic, risk-managed equity overlay for advisors.

Connect with the Show

• Host: Adam Figura: [email protected]

Disclaimer: This conversation is for educational purposes only and does not constitute investment advice. All investing involves risk, including possible loss of principal.

In this episode of The Confident Advisor Practice Podcast, host Adam Figura welcomes Jesse Hurst, Senior Wealth Manager and CEO of Impel Wealth Management of Cetera Advisors, to share insights from his new book PopEnomics. With more than 30 years of experience helping clients navigate retirement, investment, and estate planning, Jesse combines technical expertise with relatable stories drawn from movies, music, and pop culture.

What started as weekly blog posts in 2010 evolved into hundreds of bite-sized lessons during the pandemic. Those lessons, often illustrated with memorable cultural references—from Animal House to Friends to What About Bob?—now come together in PopEnomics. Jesse explains why financial planning is like taking "baby steps," why herd mentality often leads investors astray, and how advisors play a crucial role in guiding clients through both the numbers and the emotions of retirement.

This conversation is full of practical takeaways and entertaining examples that show financial planning doesn't have to be dry or intimidating. Instead, it can be approached like solving a puzzle—step by step, with the bigger picture in mind.

Key Takeaways

● Jesse has written 600–700 blog posts since 2010 to keep clients engaged and informed.

● PopEnomics was inspired by the feedback on his COVID-era writing, where pop culture references made economic concepts "stick."

● Examples from Animal House, Friends, What About Bob?, The Beatles, and even Britney Spears make financial lessons more memorable.

● Financial planning works best in "baby steps," building gradually toward retirement.

● Many retirees struggle with the emotional shift from saving to spending, even when resources are more than sufficient.

● Advisors help clients flip that switch and confidently enjoy their wealth.

● Financial journalism is designed to attract clicks, not provide reliable investment advice—understanding its purpose helps avoid panic.

● The book frames planning as 12 financial puzzles, starting with knowing "where you are" and envisioning the picture on the box (your retirement).

● Advisors aren't there to predict markets but to connect clients' dreams with their resources.

● It's never too late to begin financial planning; whether at 30 or 55, there's always a path forward.

Chapters

00:00 – Welcome and Introduction to Jesse Hurst Adam Figura introduces guest Jesse Hurst, Senior Wealth Manager and CEO of Impel Wealth Management of Cetera Advisors. With 37 years of experience, Jesse shares his mission of helping clients "move life forward" and introduces his new book PopEnomics, which blends rock and roll, movies, and financial wisdom.

01:00 – From Weekly Blogs to a Full Book Jesse explains how his writing journey began in 2010, evolved during the pandemic, and resulted in more than 600 bite-sized blog posts. COVID gave him the push to expand on those ideas, ultimately leading to PopEnomics—a book that tells the "whole story" of financial planning.

02:47 – Movies, Music, and Money Lessons Jesse recalls how cultural references became a powerful teaching tool, from Animal House (unconventional weapons for unconventional crises) to Friends (Joey digging a hole as a metaphor for the $2.2 trillion economic gap during COVID). Listeners hear how these pop culture moments make complex financial concepts relatable and memorable.

05:42 – Baby Steps and Herd Mentality Financial planning is like the "baby steps" taught in the movie What About Bob?—small, consistent moves that add up to big results. Jesse also shares how herd behavior, captured by The Beatles' "All Together Now," often leads investors into trouble during market bubbles and crises.

08:16 – The Emotional Transition from Saver to Spender Jesse describes the difficulty many clients face in shifting from accumulation to distribution. He tells a powerful client story of a couple with $2.5 million in assets who struggled to spend, until they finally embraced first-class travel with the mindset: "If we don't spend our money, someone else will."

11:28 – Coaching Through Market Panic The conversation shifts to financial journalism and how its true purpose is to drive clicks, not provide reliable advice. Jesse cites infamous wrong predictions—from "The Death of Equities" in the late '70s to the mislabeling of Sam Bankman-Fried as the next Warren Buffett—to highlight why advisors must reframe the noise for clients.

14:41 – Lessons From 37 Years and 19 Crises Jesse reflects on his career, beginning just before the 1987 crash, through the dot-com bubble, 2008, COVID, and beyond. He emphasizes that while each crisis feels like "the end of the world," markets eventually recover, and advisors serve as the steady hand through volatility.

16:25 – A Backstage Pass to Retirement Using analogies like airport maps and jigsaw puzzles, Jesse explains how retirement planning starts with knowing "you are here" and picturing your ideal retirement (the puzzle box). He frames his book as 12 financial puzzles that readers can solve step by step to build clarity and confidence.

19:45 – What People Misunderstand About Advisors Jesse clarifies that advisors aren't there to beat the market or predict downturns. Instead, they help clients define real goals, connect dreams with resources, and stay disciplined when emotions run high. A football-inspired analogy, "Fourth and Seventh," illustrates the importance of trusted guidance during repeated 20% market drops.

22:15 – Protecting Retirees From Market Downturns Jesse outlines a strategy he uses for retired clients: replenishing two years of cash and short-term bonds when markets hit new highs, creating a cushion against selling during downturns. He shares how this planning gave one client peace of mind during 2022's dual stock-and-bond selloff.

25:16 – The Core Message: It's Never Too Late Jesse drives home the heart of PopEnomics: regardless of age, there's always a way to start planning. Whether you're just entering your "runway decade" or nearing retirement, small steps can lead to big progress.

26:04 – Where to Find the Book and Final Thoughts Jesse shares how listeners can pre-order PopEnomics on Amazon or visit PopEnomics.com for resources. He leaves the audience with his hope that people will find the book both fun and educational—reminding them that financial wisdom can be just as engaging as a great song or movie.

Memorable Sound Bites

● "Financial planning's like baby steps—you start small and keep moving forward."

● "If the herd was right, the herd would be rich. And most people aren't rich."

● "If you don't spend your money flying first class, one day somebody else will."

● "The goal of financial journalism isn't to make you rich—it's to get you to click, buy, or tune in."

● "Advisors help clients connect their dreams and their resources."

Connect

Jesse Hurst

● Senior Wealth Manager & CEO, Impel Wealth Management of Cetera Advisors

● Author of PopEnomics

● https://www.impelwealth.com/popenomics

● LinkedIn

Adam Figura

● Host of The Confident Advisor Practice Podcast

● LinkedIn

● [email protected]

The views depicted in this material are for information purposes only, and are not necessarily those of Cetera Advisors, LLC. They should not be considered specific advice or recommendations for any individual. Neither Cetera Advisors, LLC, nor any of its representatives may give lega or tax advice. Pete Bush, Bill Bush, and Andy Bush are registered representatives, offering securities and advisory services offered through Cetera Advisors, LLC, member FINRA, SIPC, a broker-dealer and registered investment advisor. Adam Figura is a registered administrative assistant of Cetera Advisors, LLC, member FINRA, SIPC. The guest on this episode, Jesse Hurst of Impel Wealth Management, is a registered representative offering securities and advisory services through Cetera Advisors, LLC, member FINRA, SIPC, a broker-dealer and registered investment advisor. Cetera is under separate ownership from any other named entity. 15015 Jamestown Boulevard, Suite 100, Baton Rouge, LA 70810.

These are hypothetical examples based on real client experiences. Outcomes vary and are not guaranteed.

In this episode of The Confident Advisor Practice Podcast, host Adam Figura sits down with Alanah Phillips, a dynamic advocate for Next Generation Advisors and author of the forthcoming book Breaking Up with Your Broker Dealer: A Clear Path to Independence for Financial Advisors. Alanah shares her career journey, the inspiration for writing the book, and offers powerful insights into the advisor experience—especially those navigating firm transitions. From recognizing red flags to understanding firm culture and defining independence, this conversation delivers valuable takeaways for advisors at all stages of their journey.

Key Takeaways:

• Alanah Phillips champions the cause of Next Gen Advisors.
• Breaking Up with Your Broker Dealer focuses on advisor independence and identifying firm red flags.
• Culture, compensation structure, and practice fit are critical for long-term advisor success.
• Advisors should evaluate firm alignment with personal values and client needs.
• The due diligence process can be exhausting but necessary.
• Advisors should assess risk tolerance, capacity, and long-term goals before making a move.
• Not all firms are a one-size-fits-all solution—alignment matters.

Chapters:

00:00 – Introduction to Alanah Phillips and Her Mission Adam welcomes Alanah and shares her background in financial services, advocacy work, and upcoming book release.

01:24 – Inspiration Behind the Book Alanah reflects on her journey from being hired into the industry by Adam to working with advisors seeking independence. She shares a powerful story that sparked the book's theme.

04:12 – Recruiting Insights and Advisor Perspectives The difference between Alanah's recruiting mindset and typical industry recruiters, shaped by years of working closely with advisors.

06:54 – Signs It's Time to Break Up with a Firm Alanah outlines common "breakup signs" like control, lack of recognition, dishonesty, and misalignment with advisor values.

08:58 – Current Landscape for Financial Advisors She explains the nuanced spectrum of firm models—from captive to fully independent—and how advisors can navigate the complexities.

11:40 – Prioritizing the Right Firm for Advisors Using a formula of risk tolerance, risk capacity, and goals, Alanah walks advisors through evaluating what firm model fits them best.

16:25 – Key Lessons from the Book Alanah emphasizes the importance of self-awareness, humility, and resisting shortcuts in due diligence to ensure long-term success.

19:14 – Understanding Firm Culture Discussion on how to spot true culture fit (beyond the "no jerk policy") using subtle cues, team stories, and environment vibes.

22:05 – Where to Find Alanah Phillips and Her Work Alanah shares where listeners can follow her, learn about Catalyst and Advisor Launch Lab, and how to get a copy of her upcoming book.

Sound Bites:

• "It's time to break up!"
• "The industry is very nuanced."
• "Is it a culture fit or vibes?"

Connect with Alanah:

• LinkedIn: Alanah Phillips
• Website: startwithcatalyst.com
• Book: Breaking Up with Your Broker Dealer – launching September 2025 on Amazon

Alanah Phillips is not affiliated with or registered with Cetera Advisors LLC. Any information provided by Alanah Phillips is in no way related to Cetera Advisors or its registered representatives.

Connect with Adam:

• Email: [email protected]
• Website: horizonadvisornetwork.com

Host: Adam Figura, Registered Administrative Assistant with Cetera Advisors LLC, member FINRA/SIPC. Cetera is under separate ownership from any other named entity. Located at 15015 Jamestown Blvd, Suite 100, Baton Rouge, LA 70810

In this inspiring episode, Adam Figura welcomes Colleen Bowler, a seasoned financial advisor turned coach and innovator. Colleen recounts her unconventional entry into the financial services industry during a personally challenging time, and how she built a successful, client-centered practice by asking meaningful questions, collaborating with experts, and charging for her planning expertise. She discusses her transition to coaching and the creation of the Passport Package—an innovative tool that helps advisors connect more deeply with clients through mindset assessments. The conversation underscores the importance of intentionality, specialization, and embracing the human side of financial planning.

⏱️ Time-Stamped Show Notes

00:00 – Welcome and Introduction Adam introduces Colleen Bowler, highlighting her 25+ year career in financial advising, her coaching background, and her co-founding of CNJ Innovations.

01:15 – Starting in a Storm: Colleen's Entry into Financial Services Colleen shares her origin story—becoming a financial advisor during a personal crisis as a newly single mother. She emphasizes the power of flexibility in the profession.

03:13 – From Struggle to Strength: Building a Practice on $14K Recounting her early income and challenges, Colleen discusses how asking questions and surrounding herself with experts helped her thrive.

05:15 – I to We: The Power of Joint Work and Collaboration Colleen describes building an "ensemble" team and the transformative impact of charging planning fees—starting with just $900.

08:11 – Real Client Story: $10M Moved from Friends to Colleen Colleen shares how a $10,000 planning fee led to deep trust and consolidation of client assets—highlighting the importance of process and value.

09:08 – Specialization Matters: Lessons from Building a House Colleen explains how financial advisors should embrace specialization and leverage expert teammates to provide complete client solutions.

10:00 – Shifting Roles: From Advisor to Life Coach The industry has evolved—clients now want "Canyon Ranch" service, not just numbers. Colleen talks about embracing the human side of advising.

11:42 – Launching CNJ Innovations and a New Mission Colleen shares why she moved from advising to coaching, driven by her passion for learning, teaching, and helping advisors scale with intention.

12:43 – The Birth of the Passport Package Colleen introduces the Passport Package: a pair of five-minute assessments that measure eight key client mindsets to deepen conversations and relationships.

15:00 – Real-World Impact: New Revenue & Better Conversations Examples of advisors discovering major opportunities (like LTC planning) using the Passport Package—and how it reveals key differences between spouses.

17:07 – Qualifying Fit Through Assessment Results How the tool quickly identifies misaligned prospects and saves advisors time—some clients "just want returns," others want more.

18:45 – Deepening the Dialogue: Mindsets Beyond the Money The tool opens conversations about health, partnership, and values—often the missing pieces in traditional planning.

19:34 – Coaching for Intentional Growth Colleen reflects on her coaching work, encouraging advisors to lean into what they love and be intentional with how they build their business and life.

21:07 – Planning with Purpose: R-Factor and Strategic Questions Adam and Colleen discuss using future-oriented questions—like "Where do you want to be in 3 years?"—to guide advisors and clients alike.

21:49 – Where to Learn More: Connecting with CNJ Innovations Colleen shares how to get in touch—via LinkedIn, email, or a 15-minute "impact call."

22:25 – Final Thoughts and Inspiration Colleen offers encouragement: from $14K to a 7-figure exit, her story is a testament to what's possible in this profession.

💡 Key Takeaways

• Flexibility enabled Colleen to balance family and a new career.
• Asking powerful questions was her foundational skill.
• Collaboration with experts fueled trust and referrals.
• Charging planning fees added professionalism and clarity.
• The Passport Package opens deeper client conversations through quick, insightful assessments.
• Advisors should lean into the human side of financial planning.
• Mindset and intention are crucial for long-term success.

🔊 Sound Bites

"It's just different skill sets." "If I can do it, anybody can." "That just saved him a lot of time."

📞 Contact Colleen Bowler

• LinkedIn: Colleen Bowler
• Website: https://candjinnovations.com/
• Email:colleen@candjinnovations

"

📞 Contact Adam Figura

• [email protected]

🔍 Episode Summary:

In this powerful episode, Adam Figura sits down with Erin Botsford—a 31-year career financial advisor, Barron's Top 100 alum, and founder of the Elite Advisor Success System—to explore how financial advisors can confidently charge for their expertise. Erin shares her journey from working with mass affluent clients to serving high net worth individuals, offering actionable insights on pricing strategy, uncovering client vulnerabilities, and positioning yourself as a true expert. From "disturbing tracks" to annual fee renewals, this episode is packed with strategies for transforming how advisors deliver and price value.

⏱️ Time-Stamped Show Notes:

00:00 – Introduction

● Adam introduces Erin and her extensive background in the advisory industry.

01:14 – Starting Out & Early Influences

● Erin's transition from wirehouse to semi-independent and her early exposure to charging planning fees.

02:53 – A Game-Changing Coaching Encounter

● How meeting a top-producing peer reshaped Erin's perspective on scaling her practice.

05:13 – Learning the Needs of High Net Worth Clients

● Erin invested in herself, learning the legal and financial intricacies of affluent client needs.

07:24 – What High Net Worth Clients Want

● Focusing on the risk side of the balance sheet to stand out and offer true value.

09:40 – "Disturbing Tracks" and Emotional Triggers

● Using vivid, relatable stories to uncover client fears and motivate action.

14:12 – Overcoming Objections & One-Meeting Policy

● Erin's no-chase policy: if they don't commit in the first meeting, she moves on.

17:40 – Moving Upmarket Successfully

● Advisors must be prepared to engage high net worth clients with confidence and relevance.

20:07 – Confidence, Language, and Credibility

● How one advisor used Erin's training to close a $44,500 planning fee with a $40M prospect.

23:15 – Positioning Yourself as a Trusted Professional

● Why charging nothing devalues your expertise—be on par with attorneys and CPAs.

24:29 – Establishing & Renewing Annual Fees

● Define your model and clients will follow; ongoing fees are part of the process when value is clear.

26:16 – Comprehensive Planning Extends Beyond the Client

● Advisors should consider generational impacts, not just the couple in front of them.

29:19 – Closing & Resources

● Erin directs listeners to www.erinbotsford.com; Adam thanks Erin for her insights

💡 Key Takeaways:

● High net worth clients value expertise and will pay for peace of mind.

● Storytelling and risk-side planning are essential to demonstrating value.

● Positioning, confidence, and clearly defined fee structures are critical for success.

● Advisors must treat financial planning as a business with real pricing power.

● .

💬 Notable Quotes:

● "Getting paid for your expertise."

● "Stories sell, let's just face it."

● "You have to paint that picture for them."

● "Birds of a feather flock together."

● "You get to set the rules of your business."

● "You need to put other legs on your stool."

● "They don't want to feel vulnerable—they'll pay to avoid it."

● "Free planning? That kills your credibility."

📞 Contact

Host: Adam Figura, Director of Advisor Growth 📧[email protected] 📞 (225) 612-3820🌐www.horizonadvisornetwork.com

Registered Administrative Assistant with Cetera Advisors LLC, member FINRA/SIPC. Cetera is under separate ownership from any other named entity. Located at 15015 Jamestown Blvd, Suite 100, Baton Rouge, LA 70810

In this episode of The Confident Advisor Practice Podcast, Adam Figura is joined by Pete Bush and Brian Toma to dive deep into the value of the Certified Exit Planning Advisor (CEPA) designation. They explore how this credential equips financial professionals to better serve business owners navigating complex exit strategies. Topics include the wealth gap, M&A challenges, personal planning, and the importance of building a dream team. Listeners will gain valuable insights into how advisors can lead meaningful transition conversations and prepare clients—and their own businesses—for successful futures.

⏱️ Time-Stamped Chapters & Show Notes

00:00 – Introduction to Exit Planning and CEPA Adam welcomes listeners and introduces guests Pete and Brian. He explains the purpose of the CEPA designation for financial advisors.

01:38 – Why Pete and Brian Chose the CEPA Both discuss their motivations and experiences earning the CEPA designation. Brian describes the curriculum as some of the best, most practical advisor content he's seen.

03:25 – The Dream Team Approach & Driving Business Value The CEPA program's emphasis on collaboration among advisors resonates strongly with Brian. Pete adds how the designation fits into his broader client service model.

05:15 – Understanding the Value of a Business Advisors frequently encounter business owners who don't truly know what their business is worth or understand their wealth gap.

06:12 – Challenges in Exit Planning for Business Owners Brian and Pete discuss common roadblocks like emotional attachment, staying too long, and making assumptions about succession within families.

08:50 – The Importance of Personal Planning in Business Transitions Many owners fail to plan for life after selling their business. This personal gap can stall or kill deals, no matter how good the numbers look.

10:52 – Family Dynamics and Ownership Dilemmas Brian shares insights on the difficult, but necessary, conversations around family succession, including how to handle fairness between involved and uninvolved children.

13:25 – Do You Have a Business or a Job? Advisors should help owners assess if the business can run without them. If not, it's a job—not a business. Pete recaps the CEPA "three-legged stool": business, personal, and financial readiness.

14:56 – M&A Insights and Challenges in Acquiring Practices Brian and Pete reflect on buying other practices. They emphasize evaluating not just the numbers but the people and culture driving the business.

17:50 – The Four Intangible Capitals (4 C's) They break down CEPA's framework of Human, Social, Structural, and Systems Capital and how these impact business value.

19:31 – Preparing for Business Acquisition Before advisors consider acquisitions, they must ask: "Why do I want to grow this way?" and "Can my team handle the scale?" If systems aren't ready, the deal may cause more harm than good.

21:11 – Advisor Role: Asking the Right Questions Adam points out how the best advisors ask questions to understand client goals. Pete jokes about Brian's "Socratic" method of answering questions with questions.

23:04 – Final Thoughts and Takeaways Brian shares a story about a client who thought he needed $10M from a sale—but only needed $7.5M to live his ideal life. The advisor's role in modeling these scenarios is critical to confident decisions.

26:42 – From Concentrated to Diversified Wealth Pete explains how business owners accumulate wealth in a concentrated, illiquid asset and must be coached to diversify and protect their legacy.

29:05 – Why Advisors Should Consider CEPA Pete closes with three key reasons to pursue the CEPA: to better help clients, identify acquisition opportunities, and prepare for one's own succession plan. "Stay ready so you don't have to get ready."

30:01 – Closing Thanks Adam thanks his guests and the audience. He encourages listeners to stay tuned for the next episode.

💡 Key Takeaways

• The CEPA credential enhances advisors' value when working with business owners.

• Most business owners are unaware of the true value of their business or their wealth gap.

• Exit planning must include personal and emotional readiness—not just financials.

• A strong advisory team ("dream team") is critical for successful business transitions.

• Acquiring a practice means acquiring its people and culture, not just its numbers.

• Advisors should question their readiness before pursuing M&A.

• Asking the right questions helps uncover the client's true goals.

• Advisors need to stay educated and ready—for their clients and themselves.

🎯 Sound Bites

• "You need to know what you want."

• "This is my life. This is my baby."

• "You have a job."

• "You have to hire the best people."

• "You have to have a good CPA."

• "We build out scenarios."

🎯 Contact

[email protected]

In this episode, host Adam Figura welcomes Dan Mayes to discuss succession planning, mergers, and acquisitions for financial advisors. They explore the importance of planning ahead, the great wealth transfer, practice valuations, and common misconceptions about the value of advisory businesses. Dan provides actionable steps advisors can take to maximize their firm's value and ensure a smooth transition.

Chapters & Timestamps

⏱ 00:00 – Introduction to Succession Planning

• Adam Figura introduces the topic of succession planning and M&A in financial advisory.

• Guest Dan Mayes is introduced as a Director in Cetera's Corporate Development department.

⏱ 00:44 – Why Succession Planning Matters

• The importance of planning for an advisor's business exit.

• The three categories of succession planning: continuity planning, planned exit, and business acquisition.

• Why advisors need to be affiliated with firms like Horizon and Cetera for structured transition strategies.

⏱ 02:58 – Failing to Plan is Planning to Fail

• Advisors who don't actively plan for succession risk their business, clients, and employees.

• The importance of having a structured plan rather than a last-minute approach.

⏱ 03:31 – Common Challenges in Transitioning a Practice

• The three biggest mistakes advisors make:

1. Oversimplifying the succession process.

2. Lack of a written continuity plan to protect business value.

3. Not starting early enough—planning should begin 3-7 years before exit.

⏱ 06:01 – The Great Wealth Transfer & Its Impact

• 40% of advisors will retire in the next decade, managing $12 trillion in assets.

• Importance of training next-generation advisors to continue client service.

• Clients seek human advisors despite AI advancements—next-gen advisors need to be prepared.

⏱ 10:27 – Next Generation Advisors & Continuity Planning

• Next-gen advisors are entering the field well-educated but need hands-on experience.

• The importance of proactively structuring transitions rather than waiting for opportunities to arise.

⏱ 11:50 – Understanding Practice Valuations

• Recurring revenue businesses are valued higher than non-recurring revenue.

• Industry averages suggest 2.5-3.5x revenue for recurring businesses.

• Why advisors should work with valuation firms to determine true business worth.

⏱ 17:22 – Misconceptions About Practice Value

• "Your business is only worth what someone is willing to pay for it."

• Different buyers value businesses differently—terms, not just price, matter.

• The risk of selling to the wrong buyer who may not sustain the practice.

⏱ 21:10 – Key Areas to Focus on for Maximum Value

• Every advisor should have a written continuity plan—60-70% of advisors do not.

• Growth & profitability are key drivers of value.

• Importance of recurring revenue and having a solid client retention strategy.

⏱ 24:41 – Final Takeaways & Action Steps

• Advisors should:

• Start exit planning early—it's never too soon.

• Engage with third-party valuation firms for an accurate assessment.

• Leverage firm resources like Horizon to maximize transition success.

• Take control over business succession rather than letting it be dictated by circumstances.

⏱ 26:23 – Closing Thoughts

• Adam summarizes key insights: succession planning should start now, not later.

• Advisors must protect their business value, have a structured exit plan, and seek partnerships for support.

Key Takeaways

✔ Succession planning is crucial for business continuity and maximizing value. ✔ Advisors often oversimplify the process—it requires careful planning and execution. ✔ The great wealth transfer will significantly impact the advisory profession. ✔ Next-gen advisors are well-educated and motivated, making them key to continuity. ✔ Practice valuations are rising, but misconceptions can lead to poor decisions. ✔ Every advisor must have a written continuity plan to safeguard their firm. ✔ Growth, profitability, and efficiency drive practice value. ✔ Working with Horizon and valuation experts ensures a smooth transition.

Notable Sound Bites

🎤 "Failing to plan is really a plan to fail." 🎤 "Your practice is worth what someone is willing to pay for it." 🎤 "Why would you settle for average?" 🎤 "Now's the perfect time to be creating a strategy." 🎤 "It's never too early to think about exit planning."

Contact:

✅ www.horizonadvisornetwork.com

🔗 Adam Figura: [email protected]

Episode Summary

In this episode, Adam Figura and Pete Bush explore the power of ensemble practices in the financial advisory industry. They discuss the differences between solo, silo, and ensemble practice structures, breaking down the benefits and challenges of each. Pete shares his journey transitioning to an ensemble model, highlighting the importance of teamwork, a clear vision, and entrepreneurial adaptability.

They also discuss the evolving landscape of financial advisory firms, focusing on how collaborative environments enhance client relationships, build long-term firm value, and create sustainable business models.

Key Takeaways

✅ Ensemble practices foster collaboration among advisors. ✅ Each practice structure (solo, silo, ensemble) has unique pros and cons. ✅ A clear vision is crucial for attracting and retaining top talent. ✅ Team dynamics significantly impact success. ✅ Recurring revenue models provide financial stability and career growth. ✅ Understanding entrepreneurial styles helps build strong advisory firms. ✅ Firm value extends beyond revenue generation to long-term sustainability. ✅ The ensemble model strengthens client relationships. ✅ Creating a supportive workplace improves retention. ✅ The advisory industry is constantly evolving—adaptability is key.

Episode Chapters & Timestamps

⏳ 00:00 - Introduction to Ensemble Practices

• Overview of different financial advisory practice models.
• What defines an ensemble practice?

⏳ 05:56 - The Evolution of Entrepreneurial Models

• How advisors' mindsets have shifted over time.
• Pete's personal experience transitioning to an ensemble structure.

⏳ 11:58 - Building a Vision for the Future

• The importance of defining a long-term vision for a financial practice.
• How a shared vision attracts the right talent and clients.

⏳ 18:03 - Challenges and Opportunities in Ensemble Practices

• The biggest hurdles firms face when adopting an ensemble model.
• How to overcome obstacles and capitalize on opportunities.

Notable Quotes

💬 "An ensemble practice isn't just about working together—it's about building something bigger than yourself." — Pete Bush

💬 "A clear vision isn't just important; it's essential for attracting the right people and keeping them engaged." — Adam Figura

💬 "Sustainable success comes from collaboration, not just individual effort." — Pete Bush

Connect With Us

🎙️ Subscribe to The Confident Advisor Practice Podcast for more insights on building a successful advisory firm.

🔗 Follow Us: Horizon Advisor Network

Horizon Financial Group

📩 Have a question or topic suggestion? Email us at [email protected]

Episode Summary:

In this inaugural episode of season 3 of The Confident Advisor Practice Podcast, Pete Bush, CEO of Horizon Advisor Network, welcomes special guest Adam Figura, Director of Advisor Growth. Together, they discuss the unique culture of the Horizon Advisor Network and the importance of fostering growth among financial advisors. Adam shares his journey in financial services, emphasizing the need to build confidence, create vision plans, and cultivate long-term relationships for success. The conversation sets the stage for future episodes packed with practical insights and strategies for advisors.

Chapters:

00:00 – Introduction to the Confident Advisor Practice Pete Bush opens the podcast by introducing its purpose: helping financial advisors grow their practices. He also provides an overview of the Horizon Advisor Network and introduces guest Adam Figura, Director of Advisor Growth.

02:08 – Adam Figura's Journey in Financial Services Adam shares his career journey, starting in a professional development program on the East Coast, working with NextGen advisors, and eventually moving to Dallas to lead a team of over 100 advisors nationwide. He highlights his passion for mentoring and supporting advisors at every stage of their career.

05:23 – The Role of a Growth Officer Adam describes his role in providing hands-on support for advisors through practice management, team-building, acquisitions, and other growth initiatives. He explains how his focus on servant leadership and tailored strategies helps advisors succeed.

08:02 – Building Confidence in Advisors Pete and Adam discuss confidence as a "superpower" for advisors, enabling them to overcome challenges and make decisive moves in their practices. They share examples of how the Horizon Advisor Network instills confidence in its members.

09:09 – Vision Planning for Advisors Adam explains the importance of conducting five-year vision planning with advisors. He breaks down how he helps advisors define goals in areas like production, team structure, brand awareness, and client acquisition while identifying gaps and opportunities for growth.

12:03 – The Unique Culture of the OSJ The hosts explore the long-term relationships and collaborative culture within the OSJ. They highlight the benefits of compounding institutional knowledge, trust, and partnerships over time.

15:10 – Looking Ahead: The Future of the Podcast Pete and Adam discuss their vision for the podcast, including plans to bring on guest advisors, share actionable insights, and delve deeper into strategies for advisor growth.

Key Takeaways:

• The podcast aims to support advisors in growing their practices.

• Adam Figura views advisors as his clients, highlighting servant leadership.

• Building confidence is essential for advisors to make progress.

• Vision planning helps advisors achieve long-term success.

• The OSJ culture at Horizon Advisor Network promotes trust and collaboration.

• Compounding relationships and institutional knowledge enhance business growth.

• The unique needs of each advisor require tailored approaches.

Sound Bites:

• "It's about servant leadership."

• "Confidence is like a superpower."

• "It's been a breath of fresh air."

Contact:

Adam Figura: [email protected]

Pete Bush: [email protected]