The Evolving Advisor Podcast

In this episode, Jeff, Ted, and Scott discuss: 

• Understanding valuation metrics and the significance of recurring revenue and organic AUM growth. 
• The pitfalls of DIY approaches.
• The importance of cultural fit and why it matters more than money alone.
• The potential for minority transactions. 

Key Takeaways: 

• 60% of our clients have taken less money because it's a better cultural and environmental fit not only for themselves but for their staff and their clients. Fit is just more important when it's aligned than just getting the bigger paycheck.
• Most of the firms that we work with will want the advisor to have some sort of skin in the game from an equity perspective
• Founding shareholders are never going to be able to monetize at the same multiples with internal stakeholders as they can with external stakeholders. It’s a balance between taking care of the loyal people versus having a good outcome for them and their families. 
• Most people don't know how to run the numbers, especially over a three to five-year period, to show that true trajectory and that hockey stick growth.
• As an advisor, you need to look at your goals, not just those for your clients. 

"It's silly to go at it by yourself, because you're highly inexperienced, not as an advisor, but highly inexperienced as a deal negotiator." —  Ted Jenkin

Connect with Ted Jenkin & Scott DiGiammarino:

Website: https://www.jptdpartners.com/ 

Ted’s LinkedIn: https://www.linkedin.com/in/theceoadvisor/

Scott’s LinkedIn: https://www.linkedin.com/in/scottdigiammarino/

Connect with Jeffrey Concepcion: 

Website: https://www.stratoswealthpartners.com

Contact: https://www.stratoswealthpartners.com/contact

Twitter: https://twitter.com/Stratos_Wealth

Facebook: https://www.facebook.com/stratoswealthpartners

LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

Welcome to another episode of The Evolving Advisor, the podcast designed to guide Financial Advisors toward achieving both business and personal success. Hosted by Jeff Concepcion, a seasoned advisor, entrepreneur, and CEO, this episode is packed with actionable insights on one of the most pressing topics in the financial advisory industry today—navigating the complexities of financial advisory transactions and growth.

Join Jeff as he sits down with Scott DiGiammarino and Ted Jenkin, the founders of JPTD Partners, to discuss the latest trends and strategies in financial advisory transactions. With decades of combined experience, Scott and Ted offer invaluable advice for advisors looking to understand the evolving landscape of private equity, valuations, and strategic transactions.

In this episode, you’ll discover:

• The Evolution of Private Equity in Financial Advisory: How has private equity impacted the industry and what trends are shaping the future?
• Valuation Insights: Learn why valuations vary and how factors like revenue size and growth trajectories affect your business's worth.
• Transaction Strategies: Explore different types of transactions, including minority vs. majority stakes, and understand the benefits and pitfalls of each.
• -Growth and Profitability Metrics: Discover what metrics matter most to buyers and how you can enhance your business’s value.
• Cultural Fit and Negotiation Tactics: Why aligning with the right partner is crucial and how to effectively negotiate terms that suit your long-term goals.

This episode provides practical advice for advisors at any stage of their career, offering expert insights on maximizing the value of your business and making informed decisions about future transactions. Whether you're contemplating a sale, seeking growth, or simply exploring your options, this conversation is a must-listen.

Tune in now and take the next step in evolving your advisory practice.

Welcome to the Evolving Advisor Podcast! In this episode, host Jeff Concepcion dives deep into the power of storytelling for financial advisors with special guest Jeff Bartsch, founder of Story Greenlight. Together, they explore how advisors can refine and package their unique stories to build stronger connections, enhance client trust, and take their businesses to new heights.

Key Points:

• Importance of human connection and storytelling in wealth management.
• Jeff Bartsch's journey from Hollywood to coaching executives and advisors.
• Understanding the principles of connectivity and human insight.
• The crossover between communication strategies in Hollywood and wealth management.
• The power of story in transforming client interactions and driving business growth.
• Steps for advisors to identify their ideal client and articulate their story effectively.
• Strategies for refining and packaging your advisor story for maximum impact.
• Building trust through shared values and personalized storytelling.
• Invitation for a free coaching consultation for podcast listeners.
   

Benefits for Listeners:

• Gain insights into the psychology of storytelling and its impact on client relationships.
• Learn practical steps to refine your advisor story and connect more deeply with clients.
• Discover strategies to build trust, attract ideal clients, and elevate your business.
• Access a free coaching consultation to personalize these concepts for your practice.

We'd love to hear your thoughts and questions about crafting your advisor story and building stronger client connections. Share your insights and reach out for a free coaching consultation by visiting Story Greenlight. Join us on this journey of evolving as financial advisors!

In this episode, Jeff, Lou, and Jeff discuss: 

• Running a successful private practice to launching a national brand.
• Reasons for going independent. 
• Creating the vision and keeping the local flavor of your firm. 
• Building a great team with next-generation talent. 

Key Takeaways: 

• Think big! When you achieve your goals, think about what is next and set your next goal. 
• Working with a coach can better assist you in your transition from being an advisor to being a CEO and running an organization. 
• Look ahead, don’t focus on the past. Don’t hold attachment to the sunk costs that aren’t working for you any longer. 
• As a financial guide, you need to know your clients, the financial landscape, where they want to go, and the timeline they want to get there. 
• Harness the power of collaboration and team, delegate everything that someone else does better than you. Put the right people in the right seats, let them do their thing, and you will be amazed at what happens. 

"The clients don’t care about the name - they care about the service they are getting." —  Jeff Brown

Connect with Jeff Brown: 

Website: https://stratosprivatewealth.com/

LinkedIn: https://www.linkedin.com/in/jeff-brown-15349b/

Connect with Lou Camacho:

Twitter:https://twitter.com/loucamachoswa

Website: https://www.stratoswealthpartners.com

LinkedIn:https://www.linkedin.com/in/loucamacho

Connect with Jeffrey Concepcion: 

Website: https://www.stratoswealthpartners.com

Contact: https://www.stratoswealthpartners.com/contact

Twitter: https://twitter.com/Stratos_Wealth

Facebook: https://www.facebook.com/stratoswealthpartners

LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Greg discuss: 

• The evolution of FactSet and how it is still assisting financial advisors. 
• Changing technology and AI in the financial advising industry. 
• Techstack choices, flexibility, and integration. 
• How to become a best-in-class advisor from a tech perspective. 

Key Takeaways: 

• Ask “Will this product help our clients solve a problem in their daily lives?” If you can answer yes to that question, looking into the product as an investment or service add for your firm could be worth it. 
• Focus on your client experience and you can’t go wrong. 
• As your firm grows, you will need different things for your clients and advisors. Looking for tech that will integrate with each other can help you scale more easily and effectively. 
• Use the client feedback as a guide for how you’re going to evolve your tech stack in the future. 

"Focus on the end client, that should give you the answers they need about where you're headed. Concentrate on what they're telling you about how they're using services in the industry, and really use that client feedback as a guide toward how you build your technology stack." —  Greg King

Connect with Greg King: 

Website: https://insight.factset.com/

LinkedIn: https://www.linkedin.com/in/greg-king-b650b33/

Connect with Jeffrey Concepcion: 

Website: https://www.stratoswealthpartners.com

Contact: https://www.stratoswealthpartners.com/contact

Twitter: https://twitter.com/Stratos_Wealth

Facebook: https://www.facebook.com/stratoswealthpartners

LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Aaron discuss: 

• How conservative, moderate, and aggressive mean different things in different industries (and how they need to be described for financial advising). 
• Persistence and pivoting when things don’t go as planned. 
• Building a company and rebranding to better fit the mission. 
• Best practices for financial advisors. 

Key Takeaways: 

• The client needs to be in the role of the hero - the financial advisor needs to be the Obi-Wan Kenobi to your client’s Luke Skywalker. 
• Understand how the value driver can apply to what your customers want and need. 
• Build your firm with an eye towards the future, whatever that looks like for you. 
• Make sure your firm is growing, no matter what the market is doing. The impact of the market should not be the only thing growing your firm. 

"Growth is the lifeblood of businesses. If we're not being real with ourselves about how we're growing, excluding market impact, I think we're gonna be in trouble as advisory businesses." —  Aaron Klein

Connect with Aaron Klein:

Website: https://nitrogenwealth.com/ 

LinkedIn: https://www.linkedin.com/in/aaronklein/

Twitter: https://twitter.com/AaronKlein

Twitter: https://twitter.com/NitrogenWealth

Connect with Jeffrey Concepcion: 

Website: https://www.stratoswealthpartners.com

Contact: https://www.stratoswealthpartners.com/contact

Twitter: https://twitter.com/Stratos_Wealth

Facebook: https://www.facebook.com/stratoswealthpartners

LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/