This episode of The Confident Advisor Practice Podcast with Bill Bush and Chad Soileau talk about the similarities of what it takes to have success in sports and having success in the financial arena. Bill and Chad break down how the Three Ts: talent, team, and time play a key role...along with the non-T-word 'luck.'

Episode Highlights:

• 01:45 – Bill Bush and Chad Soileau make the comparison between the NASCAR
• success and having financial success.
• 02:51 – Financial success starts with having great talent involved.
• 03:24 – Make sure your talent is supported by a strong and resourceful team.
• 04:58 – Time is needed for talent and teams to work together and establish

success in the long run.

• 06:53 – Luck is the x-factor that rewards those that are ready for it.
• 08:07 – It is not just one element. It typically takes all of them working in unison.

3 Key Points:

1. Talent is the front-stage, client-facing element in the financial world that is respected for their experience.
2. The team has talent as well and they support and develop the frontline talent from the background.
3. Time is the long-term continuity and familiarity that builds sustainability.

Tweetable Quotes:

• (Success in NASCAR) "Sometimes it is the talent. Sometimes it is the car. Sometimes it is luck. Most of the time it is all three." – Chad Soileau.
• "Luck favors the prepared. As we all know, if you are doing the right things over time and you are consistently doing them over and over and over and over and over, luck is going to be on your side more often than not." – Chad Soileau.
• "If you want to go fast, go alone. If you want to go forward, go together." – Chad Soileau.

Resources Mentioned:

• Horizon Advisor Network
• The Confident Advisor Practice Podcast
• [email protected]
• [email protected]
• com

This episode of The Confident Advisor Practice Podcast with Bill Bush and Chad Soileau expands upon three common financial terms and applies them to managing your practice: diversification, allocation, and re-balancing. Learn what they mean to you as a business owner, how they can improve your practice management, and the ways in which they will focus the way you are using your time.

Episode Highlights:

• 00:55 – Bill Bush and Chad Soileau introduce the topic of applying the financial

terms diversify, allocate, and rebalance to managing their practice.

• 02:37 – What is diversification and how does it apply to your focases and your

activities?

• 04:40 – Make sure you have enough diversification for what you are focusing on.
• 05:34 – View your allocation in terms of prioritizing your energy, resources and time

to areas of importance.

• 07:20 – Rebalancing is important to reconfigure your actions to match your intent.
• 09:05 – Toggl.com is a tool used at Horizon that keeps track of what you are

doing.

3 Key Points:

1. Diversification is a risk management strategy that mixes a wide variety of investments in a particular portfolio.
2. Allocation is how you are applying your time, resources, and energy into your areas of improvement.
3. Rebalancing is a great way to start a business year to look back at the previous year to see where improvement is needed.

Tweetable Quotes:

• "Look at where your focuses were. Was I very diversified in my thoughts? Was I very diversified in my actions? Was I over-diversified in what I did? Was I under-diversified in what I did?" – Chad Soileau.
• "Anytime you focus more on one particular area of your business, well then something else inevitably is going to fall behind." – Chad Soileau.
• "Certain asset classes are going to get overweighed and it is not where you originally started and you have to ask yourself, 'Do I want it to continue being that way because this is working for us right now?" – Chad Soileau.

Resources Mentioned:

• Horizon Advisor Network
• The Confident Advisor Practice Podcast
• [email protected]
• [email protected]
• com

This episode of The Confident Advisor Practice Podcast with Bill Bush and Chad Soileau of the Horizon Financial Group covers about how to build better clients by investing in continual learning.

Episode Highlights:

• 1:09 - Chad talks about when he was a junior advisor, and he watched the film GlenGarry Glen Ross
• 2:00 - Chad says the blog is about being a better student at your profession, and getting better at what you are doing, so you'll close more business.
• 2:32 - Where do you start on the concept of 'Always be learning?'
• 3:24 - Designations and industry standard learning as an educational component to the career- CRPS, CPFA
• 4:25 - How people put value on seeking out a specialist
• 4:42 - How Chad goes to peer group events and networking to upskill and learn
• 6:52 - Windshield opportunities - podcasts are a great way to broaden your knowledge
• 8:47 - Chad discusses coaching services to increase knowledge and expand their business
• 10:47 - Mentoring or being mentored?
• 11:58 - Bill shares his story of mentoring
• 13:30 - What about resources, and how they support learning?
• 15:50 - What would you like to share as final points, and your quote from the blog?

.

3 Key Points:

• Don't just be a student of your industry, broaden your horizons
• Consistently attend events for a year round educational opportunity
• Learning will take you further than anything else in your business

Tweetable Quotes:

• "ABC - Always be closing. You should always be looking for the opportunity to close business - you should always be pressing, to some extent" - Chad Soileau.
• "To find those better clients, and to really be better at what you do, you should always be learning" - Chad Soileau.
• "Don't just listen to industry type podcasts - generalise. If you're going into a client meeting and all you're talking about is X's and O's, it's going to get boring." - Bill Bush
• "Go back and reflect. Take notes. Go back and look at it consciously. Try adding something new in - it's one of the better ways to find new clients and close new business" - Chad Soileau.
• "Better clients demand more, pay more, and make it easier for you to level up. Better clients challenge you to dig deeper and do what you're capable of. You don't do better by working more hours - you can't work more hours. You do better by finding better clients" - Seth Godin

Resources Mentioned:

• Blog - Always Be Learning
• 1992 movie GlenGarry Glen Ross
• Horizon Financial Group
• The Confident Wealth Podcast
• Bill Bush
• Bill Bush's Email: [email protected]
• Chad Soileau
• Chad Soileau's Email: [email protected]
• FPA - Financial Planning Association
• NAPA - National Association of Planning Advisors

This episode of The Confident Advisor Practice Podcast with Bill Bush and Chad Soileau of the Horizon Financial Group talk about succession planning, the benefits that advisors need to be aware of, and the resources that Horizon Financial Group can provide.

Episode Highlights:

• 01:09 – Chad Soileau introduces himself and how he got involved with Horizon

Financial Group.

• 02:09 – What does Chad's job at Horizon Financial Group?
• 03:27 – Chad discusses a blog post he wrote about succession planning and the

importance of it.

• 08:17 – What steps should someone take in their 40s if they don't have a
• succession plan in place?
• 10:07 – How did things work out with the advisor that Chad was sharing a story
• about?
• 1136:04 – 15%-20% of the advisors that Chad Soileau talks to actually have
• succession plans in place.
• 12:57 – What kind of attitude does Chad see among advisors in their 60s?
• 13:55 – Advisors should think about the optics of having a succession plan in place
• that they can talk about with their clients to lead by example.
• 15:00 – What resources does the Horizon Financial Group have available?

.

3 Key Points:

1. Chad Soileu's role at Horizon Financial Group includes: helping other advisors build their practice, protecting that practice, and finding ways for them to leave that practice.
2. Without succession plans in place, any buying advisor is going to try to get the best value for their purchase as possible.
3. What is the value of your book of business to know what you are dealing with and consult with someone that has experience.

Tweetable Quotes:

• (Succession planning) "Advisors really work with clients for planning purposes in a lot of ways. But often times they don't think about it in their own roles." – Bill Bush.
• "People have two things that they care about, most...their money and their family. And it is not necessarily in that order sometimes." – Chad Soileau.
• "Maybe the first part is, getting a sample copy of what a continuity plan or succession plan looks like." – Chad Soileau

Resources Mentioned:

• Horizon Advisor Network
• The Confident Advisor Practice Podcast
• Bill Bush
• Bill Bush's Email: [email protected]
• Chad Soileau
• Chad Soileau's Email: [email protected]
• Dan Mayes: [email protected]
• LinkedIn
• Chad's Blog An Act o Love

This episode comes from a recent Horizon Advisor Network coaching call with Pete Bush, who explains how and why to charge consulting fees to take your business to the next level. You'll learn why you should charge this way to position yourself as a problem solver with a business that will be ready for big changes in the financial planning industry.

Show Notes:

• 2:07--- What is fee for service or fee for advice?
• 4:09--- What is a financial planning consulting agreement?
• 5:25--- What is the ERISA participant advice program agreement?
• 6:05— What is the plan advice and consulting program?
• 6:50--- Why should you charge this way?
• 6:54--- Position yourself as a problem solver.
• 9:43--- Separate planning and advice from the implementation of advice.
• 11:58--- This industry is evolving and will continue to evolve.
• 12:48--- How do you go from product-based compensation or an asset management program to fee for service or fee for advice?
• 14:10--- Develop specialized knowledge that sets you apart.
• 15:11--- Develop a narrative around leading with planning.
• 18:48--- How do you have a planning discussion?
• 21:54--- How do we present the actual amount we charge?
• 23:43--- How do we collect the fee?
• 27:48--- How does this take your business to the next level?

3 Key Points:

1. When you begin charging a fee for service or a fee for advice you're charging clients for your wisdom, your experience, and your unique problem-solving capabilities.
2. When you charge this way, you are actively preparing for the future of this business.
3. When you lead with planning services, you will take your business to the next level.

Tweetable Quotes:

- "When you have the ability to charge this way, it definitely separates planning and advice from implementing advice." – Pete Bush

- "You have to have a scope of knowledge and ability to help people beyond picking investments." – Pete Bush

- "You ask open-ended questions so that they get really clear on their answers." – Pete Bush

Resources Mentioned:

• Think and Grow Rich (book)
• The Confident Wealth Experience
• Connect National Investment and Finance Conference
• Decipher
• Advice Pay
• Rachel Stewart
• Horizon Advisor Network

• Contact Information:
  • [email protected]

This episode comes from a recent Horizon Advisor Network coaching call with Pete Bush, who addresses the difference in whether your practice is a stock or a bond? Learn the characteristics of stocks and bonds as they apply to a business, how the estimated value of your business effects you whether you are buying selling, or in a holding pattern, and how you should be balancing your total revenue between labor and expenses.

Show Notes:

• 0:43--- Whether your practice is a stock or bond effects your strategy
• 0:56--- Think of your business as a long-term investment
• 2:17--- Like any investment, your business should have a capital value
• 3:58— What are some of the characteristics of a bond
• 5:56--- What is the credit quality of the business's clients that are producing the income
• 7:44--- What are the characteristics of a stock
• 8:23--- Quality stocks mature companies that create earning pay dividends

9:45--- How do stocks and bonds differ

• 10:28--- How much should your total revenue go to labor and expenses
• 11:36--- Stocks should have a greater multiple of its liquidation value than bonds
• 13:50--- Wealth accumulation comes from owning not lending
• 15:28--- How can you get an initial value estimated for your practice
• 17:19--- Should you take clients based on your overall average client revenue
• 19:28--- How do evaluations metrics matter if you are in the holding pattern
• 20:45--- What should you do if your business is a bond and you want it to be a stock
• 22:34--- Where would you go to find good information on the Truelytics software

3 Key Points:

1. Are you building your business, liquidating your business, or looking to buy and absorb other companies?
2. Bonds typically mature at a fixed known rate, pay yields, and normally are less volatile than stocks.
3. Stocks are often valued as a multiple of their earnings.

Tweetable Quotes:

- We started off as actually thinking about our business in terms of an investment, versus a job or a career." – Pete Bush

- "We certainly expect stocks to grow over time. We expect them to grow above and beyond any income they might produce." – Pete Bush

- "Your compensation for labor, that's your compensation as an advisor, should be about 40% of your total revenue."

Resources Mentioned:

• The Confident Advisor Practice-- Discover more about the Podcast
• Horizon Advisor Network

• Contact Information:
  • [email protected]

This episode captures Pete Bush's recent quarterly coaching call for Horizon Network, and he talks about buying and selling practices and what you can do to position yourself well.

Show Notes:

• 1:00 - How to make your practice the most attractive buyer or seller in the market
• 4:00 - A buyer preparation service can make you the ideal buyer
• 5:00 - Why do we want to be an attractive buyer or seller?
  • We want to have the best fit for our clients
• 6:53 - Succession is a long thought out process to plan
• 7:20 - You want to choose a successor that you can work closely with
• 8:00 - How to successfully execute continuity
• 9:31 - As a buyer, having everything put together makes you a company of confidence for a selling company to turnover their clients to
• 11:14 - Know your numbers cold - Revenue, Expenses, and other KPIs
• 13:00 - Always be prepared and know what the process is
• 14:15 - Take a different approach to marketing your practice than you do to marketing to clients
• 15:20 - Know your documents and paperwork
• 19:47 - You save thousands of dollars by working with Horizon and Cetera

3 Key Points:

1. We want to be an attractive buyer or seller because we want to attract our ideal clients.
2. Selling is relatively immediate whereas succession planning takes time and compatibility.
3. Know your numbers and documents. If you know your revenue and key KPIs, you know your ideal client, buyer, or seller.

Tweetable Quotes:

- "Take a different approach to marketing your practice than you do to marketing to clients."–Pete.

- "If you put off retirement planning one day, no harm, no foul, but there becomes a moment when it is too late." – Pete.

- "It doesn't matter what the solution is it just matters that we all have one." –Pete.

Resources Mentioned:

Discover more about the Podcast at The Confident Advisor Practice

Horizon Advisor Network

During this installment of The Confident Advisor Practice from the Horizon Advisor Network, hosts Pete Bush and Bill Bush, CEO and Advisors at the Horizon Financial Group, sit with Brett Harrison, CEO of Cetera Advisors. They discuss managing your financial advising business through the future and industry shifts.

Show Notes:

• 00:47---Introduction of guest Brett Harrison, CEO of Cetera.
• 1:52--- Advisors don´t run on natural performance anymore they run off of emotional and logical desires of clients.
• 2:18--- Financial planning can be more emotional.
• 3:14--- Cetera has developed a tool to successfully do financial planning. Advisors need this tool too.
• 4:00--- Connecting on a human level is necessary in financial planning today.
• 5:40--- To help the next gen investor, financial advisors need to upgrade the technology of the practice.
• 7:00--- We need an online platform that clients can reference when they are up at night.
• 8:00--- The next generation of professionals need to know how to run businesses and pay their own taxes.
• 8:20--- Focusing on female advisors. There is a huge gender gap in the advising industry.
• 10:00--- There is a disconnect between the old and the young.
• 13:30--- Partnership between Cetera and Genstar
• 14:06--- Exposure to executive management and board is a critical dynamic for change in the industry.
• 14:33--- Breaking into growth strategies within the financial advising industry.
• 16:30--- The new industry shifting question: who can you choose to partner and align with in the industry?

3 Key Points:

1. The financial advising industry cannot rely solely on natural movement of markets. As it depends on client's emotions, the present day advisor must connect on a human level. It can't be all about data.
2. The incoming flow of Next Gen investors are pushing the industry to update their technologies. This will be a different age of clients where they aren't interested in managing a life outside of the office--ie paying their own taxes, working abroad. Financial advisors need to factor these life changes into their advising.
3. There is an ever present age and gender gap between advisors and clients. Advisors need to stay up to date with trends and connect them to their clients.

Tweetable Quotes:

- "It is about connecting with the person. It is not all about the spreadsheets" –Pete.

- "The financial well-being of a household is second ot health." – Brett.

- "Health and wealth are connected." –Bill.

- "To help with the Next Gen investor, we need to upgrade ourselves in regards to our interaction with technology." –Brett.

Resources Mentioned:

• The Confident Advisor Practice-- Discover more about the Podcast
• Horizon Advisor Network
• Contact Information:
  • Brett Harrison

During this installment of The Confident Advisor Practice from the Horizon Advisor Network, host Pete Bush, Advisor at the Horizon Financial Group, discusses the concept of having five dials for your business. The five dial approach gives business owners five key metrics to ¨fly¨ their business.

Show Notes:

• 1:00---Introduction of the five dials that will help you manage your business
• 3:17---If five dials are working, you can be sure your business is running well.
• 4:27---The five dials are different depending on the plane you are flying
• 5:00--- Discussion about the Five dials:
  • 90 Day Accounts Receivable
  • Number of engaged opportunities in the pipeline (Keep 20 opportunities)
  • Current cash on-hand
  • The amount of new recurring revenue added
  • Profit and loss statement budget vs actual
• 19:00---The five dials become the language of business
• 20:00---Your overhead should be about 30-40%
• 22:00---Five dials are important metrics to focus on within a business.

3 Key Points:

1. Flying a plane can be very complex much like running a business. Though there is a sprawling dashboard to fly a plane, only five dials truly matter. Running a business can be approached the same way.
2. Pete Bush shares the five dials (key metrics) he uses to run his business.
3. The five dials are 90 day accounts receivable, Number of engaged opportunities in the pipeline, current cash on-hand, amount of recurring revenue, and profit and loss statement.

Tweetable Quotes:

- "The five dials become the language of business." –Pete

- "At the end of the day when you wake up and know these five things, you are going to feel pretty good." –Pete.

- "This is about maintaining proper financial dynamics so you have something on the pulse." –Pete.

Resources Mentioned:

• The Confident Advisor Practice-- Discover more about the Podcast
• Horizon Advisor Network

During this installment of The Confident Advisor Practice from the Horizon Advisor Network, hosts Bill Bush and Pete Bush, Advisors at the Horizon Financial Group, discuss how to manage your business smartly with Jeff Litteken and Geoff Lamoine from Remotelink Solutions. Remotelink Solutions offers a versatile service to help supplement and complement your business. They take the administrative tasks off your plate so that you can focus on what matters: your clients. A Cetera-certified company, Remotelink is the perfect solution to augment your business and do what you love again.

Show Notes:

• 00:47---Introduction of the Jeff Litteken and Geoff Lemoine from RemoteLink Solutions.
• 00:52---RemoteLink Solutions is a key operation solution for solo advisors who need some leverage.
• 1:00--- RemoteLink Solutions provide support to companies in a variety of tasks.
• 1:40---Employees are the most important asset of a company.
• 2:00---We look at taking the less important activities off of the advisors plate so the advisor can get in front of the client--the most important part.
• 2:30--- RemoteLink solutions can take care of investing, compliance, administrative functions, meeting preparations, money movement, and finance.
• 3:22---RemoteLink gets into the details and ¨weeds¨ so that the advisor can provide support to clients.
• 6:00---Streamlining operations and allowing advisors to manage the details not only allows them to do the work that matters but also engage their clients fully.
• 7:40---The service helps both established and growing practices
• 8:00---RemoteLink Solutions can come into your business and fill in the gaps.
• 9:20---Optimizing businesses through unique ability teamwork such as remote solutions
• 11:20---There is opportunity lost by training new employees
• 12:30---RemoteLink Solution takes care of the training costs and time for you.
• 13:31---The Cetera connection and advisor advantage allows Remotelink solutions to be audited just as your business is. Their systems are encrypted and their solutions meet industry standards.
• 17:00---The RemoteLink Model ensures the business succeeds with their services and doesn't lose growth.
• 18:00--Time is invaluable. Any service that can give people time back is valuable.
• 19:20---You can start small and as you build confidence with the solution, you can grow from there.
• 19:40---We want to manage the business and not have the business manage us.
• 21:30---The RemoteLink team allows the business to be more proactive than reactive.

3 Key Points:

1. Leverage your business and revert to focusing on the things that matter by using Remotelink Solutions.
2. Being a financial advisor is a small part of the job. There are many other administrative, compliance, and financial tasks to complete. Remotelink Solutions supplements and complements growing as well as established businesses.
3. Get the help you need for the time you need by contacting Remotelink Solutions .

Tweetable Quotes:

- "We can help you with three things: Anything you don't want to do, anything you don't know how to do, and anything you don't get paid to do ." –Geoff Lemoine.

- "Our offering is attractive to any practice out there." –Jeff Littekin.

- "If you are able to put together in the right combination, the right skills and capabilities then magic starts to happen." –Pete Bush.

Resources Mentioned:

• The Confident Advisor Practice-- Discover more about the Podcast
• Horizon Advisor Network
• Contact Information:
  • Jeff Litteken
    • 619-795-7403
    • [email protected]
  • Geoff Lemoine
    • (619)-795-7405
    • [email protected]