The Evolving Advisor Podcast

In this episode, Jeff and Joe discuss: 

• Joe’s professional journey in financial wealth management on both sides of the Atlantic. 
• Building a financial advising firm with a mission and clarity of purpose. 
• Utilizing resources to help going independent that were not available 20 years ago. 
• Building reciprocal relationships with your clients and partners. 

Key Takeaways: 

• Understand your goal and the ultimate purpose of your firm. Use your skills to better the lives of others and solve the pain that they are having. 
• The less we seek success and wealth, the more we actually find success and wealth because people have a radar and they can sense sincerity, mission, and intention.
• Give off your time if you can help without expecting anything in return. 
• If you’re not offending someone - being thoughtfully provocative - you’re likely not speaking from the heart and with true candor. 

"I never looked at this as a small company, even when we were zero. I always built the company with the intention of building a platform to help others. Whether it's me or whether it's other people, I wanted to build a system that would allow for providing solutions to others to alleviate that stress and anxiety around finance and investment." —  Joe Cardello

Connect with Joe Cardello:

Website: https://www.augustwealthadvisors.com/

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

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 John discuss: 

• Size, scale, and the evolving landscape of the financial advising industry. 
• The elements of durability for your firm. 
• Hiring and retention in wealth management firms. 
• M&A and looking for a partner. 

Key Takeaways: 

• Scale is really the ability to build out people, processes, and technology in a way that makes the firm more profitable and/or improves the client experience. 
• Culture and career paths are crucial in your firm to attract and keep top talent. 
• Take care of your key people before they want to leave. Don’t wait until you’re desperate, be proactive about taking care of your people. 
• M&A transactions are more about risk sharing now than they have been in the past. 

"Before you can plan for a transaction, you have to know the kind of transaction you are looking for." —  John Furey

Connect with John Furey: 

Website: https://www.advisorgrowthllc.com/ 

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

LinkedIn: https://www.linkedin.com/company/advisor-growth-strategies-llc/

Twitter: https://twitter.com/AdvisorGrowth

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 Jeremy discuss: 

• Being creative and innovative as an independent advisor.
• Building a client book within the cogs of the big wirehouses.
• Digital growth in the wealth management industry.
• Why consistency is the key to success.

Key Takeaways: 

• Being inquisitive as to how you can best help your clients is the key to finding creative solutions that can change the industry.
• Having a good digital footprint will help you serve clients internationally, not just within your limited geographic area.
• When someone goes to your website, in the first 3 seconds, they need to know who you are and what you do.
• Things worth learning to take time. Take that time, as most people won’t take it. But know where the money and time balance is and know where your dollars are going.

"If someone is asking a question in the chat feature, we are responding live. I want to be able to connect when someone is within our ecosystem. I want them to have their questions answered in the most efficient way possible." —  Jeremy Finger

Connect with Jeremy Finger:

Website: https://riverbendwealthmanagement.com/

LinkedIn: linkedin.com/in/jeremy-finger-cfp%C2%AE-cima%C2%AE-crpc%C2%AE-400b9926/

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

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 Frank discuss: 

• Transitioning from being an advisor to being a consultant and coach to advisors. 
• Frank’s key message when coaching advisors. 
• The questions to answer to know if you should move firms. 
• Talking to those who have made transitions. 

Key Takeaways: 

• You need to understand the advisor and their team as well as they do in order to best help coach them. 
• It’s less about placement and more about education and guidance. 
• If you are moving firms, you want to be making the relationship between your client and your firm more connected. 
• Understand what you want from your firm. That will help you decide if you want to go out on your own or if you want to work with another advisory group or firm. 

"I just really want advisors when they make a decision to have all the necessary information to make the right choice." —  Frank LaRosa

Connect with Frank LaRosa: 

Website: https://eliteconsultingpartners.com/ 

LinkedIn: https://www.linkedin.com/in/eliteceo-franklarosa/

Twitter: https://twitter.com/ERCBoss

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

Instagram: https://www.instagram.com/eliteconsultingpartners/

YouTube: https://www.youtube.com/channel/UCRjHhruwbtu1d3N-KleWR_g

LinkedIn: https://www.linkedin.com/company/elite-consulting-partners/

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 Ray discuss: 

• What it takes to build an enduring enterprise.  
• Options for phasing yourself out or into other positions as your firm grows. 
• The processes and steps of a transition plan. 
• The war for talent and how you can bring in the right talent for your firm. 

Key Takeaways: 

• It is hard work building your boutique business into an enterprise. 
• Build a next-generation team that is capable of serving your clients and their families multi-generationally. 
• More freedom is created with each step down in a transition plan. 
• The value for the client is still going to be in the human aspect of advising, even as technology becomes more common in the advising field. 
• To find top talent, you have to be flexible. That was true 17 years ago, and it is still true today. 

"The longer the time we have, the longer the transition, but the advisors can speed that freedom date up if they want, they just need to be really effective at stepping down and letting others step up and choosing those people wisely. " —  Ray Sclafani

Episode References: 

Book: Turn the Ship Around by L. David Marquet

https://www.amazon.com/Turn-Ship-Around-Turning-Followers/dp/1591846404

Video: “Greatness” by David Marquet: https://www.youtube.com/watch?v=OqmdLcyES_Q

Connect with Ray Sclafani: 

Website: https://www.clientwise.com/ 

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

Twitter: https://twitter.com/raysclafani

Twitter: https://twitter.com/ClientWise

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 Katherine discuss: 

• How Katherine’s mom inspired her to dig into finances and, ultimately, start her firm with her brother. 
• Being authentic to who you are and listening to your gut instincts. 
• Parting with a larger firm gracefully, even if not easily. 
• Getting clarity on what you want to do in your firm for your clients.

Key Takeaways: 

• Music and math are tied in the same epicenter in the brain. 
• You can build and grow your firm through referrals if you develop your relationships with the clients you are working with. 
• In the independent space, you have your choice of tools to make you more efficient to handle larger clients and their wealth. 
• When you go independent, you have to evolve your thinking from an advisor to a CEO. It’s a different lens on the industry and on your firm. 

"You really can't win a holistic financial planning game without playing defense and offense." —  Katherine Forrester Schneewind

Connect with Katherine Forrester Schneewind: 

Website: https://highnotewealth.com/

LinkedIn: https://www.linkedin.com/in/katherine-forrester-schneewind-6722904/

Twitter: https://twitter.com/HighNoteWealth

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 Lou discuss: 

• Catalysts and benefits of independence.
• Dispelling the myths of leaving a wirehouse. 
• Financial engineering and creating enterprise value. 
• Making the shift from advisor to executive. 

Key Takeaways: 

• You can do nearly anything independently that you can do within a wirehouse. 
• You rarely, if ever, see advisors who leave the wirehouse to go independent return to the wirehouse. 
• There is a cost of complacency for staying where you’re at versus making the decision to explore other opportunities. 
• Recruiting and M&A to grow your practice don’t happen on their own, they take effort and responsibility to grow your business. 

"As people think about creating value, it's not only this financial engineering, which is critically important, but it's having something that can continue beyond a founder." —  Jeff Concepcion

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 Arwen discuss: 

• Building a financial advising firm from the ground up.
• Navigating owning a business through the dot com bust and the great recession.
• Marketing directly to women and other minority groups.
• How LIFE with Arwen can help you as a financial advisor.

Key Takeaways: 

• Even if things don’t seem to work out, they may lead you to a bigger thing than you would have ever considered possible.
• Be you. Be authentic. Be honest with who you are and who you want to be.
• Regardless of who you are trying to appeal to, you must speak their language to properly connect with them.
• Having the right tools can help you to succeed on things that seem logical and easy but are not as straightforward as they appear.

"It takes more than designing a pink invitation and sticking some flowers on it to get women to trust you with their financial concerns." —  Arwen Becker

About Arwen Becker: 

As the second shortest player on a division 1 volleyball team, Arwen Becker learned that hard work and perseverance are more valuable than natural talent. She also learned that preparation could get you through just about anything—including her 1999 cougar attack.  Just a few months after that attack, Arwen found herself as a 24-year-old divorced Zoology grad seeking a higher-paying job. That landed her into a newly launched retirement planning firm and a new career in financial planning. For 22 years, she was the co-owner of Becker Retirement Group with her husband Randy, until a national firm acquired it.

After meeting with thousands of women over the years, Arwen has taken a direct focus on changing the way women are financially educated by creating her training organization, LIFE with Arwen. LIFE is an acronym – Leaders Inspiring Female/Financial Empowerment that arms advisors with the proper tools to succeed in their practice, and to bring awareness to this national issue of female financial empowerment. Arwen leads and educates advisors to better understand how women learn differently, how to connect using story, and best practices to thrive in marketing to women.

Arwen speaks nationally, more than 40 times a year, is the author of She Handled It, So Can You!, creator of the YouVersion Women & Money devotional, is the host of the She Handled It! podcast, and is often featured as a guest expert on TD Ameritrade Network, Yahoo Finance, and many others. She is a proud mom to three boys, and a life-long athlete who loves to travel.

Connect with Arwen Becker:

• Speaking:
  • Keynote Promo Reel: https://youtu.be/TrLeBPTU7jk
  • Speaker Reel: https://www.youtube.com/watch?v=iL9vbUfAxBI&t=10s
• Social:
  • YouTube: www.youtube.com/channel/UCoYi4S0Rwf2jMAES_XnOkMA
  • Facebook: www.facebook.com/lifewitharwen
  • LinkedIn: https://www.linkedin.com/in/arwen-becker-064980138/
  • Instagram: https://www.instagram.com/life.with.arwen/
  • Twitter: www.twitter.com/lifewitharwen
  • TikTok: https://www.tiktok.com/@arwenbecker
• Website: www.lifewitharwen.com
• Podcast: www.lifewitharwen.com/podcast
• Books:
  • She Handled It, So Can You! (author) https://www.amazon.com/She-Handled-Can-You-Empowering/dp/173539050X/ref=sr_1_1?dchild=1&keywords=arwen+becker&qid=1620934756&sr=8-1
• Why Didn’t Anyone Tell Me This Shit Before? (contributor) https://www.amazon.com/Didnt-Anybody-Tell-This-Before-ebook/dp/B07RG6WXJC/ref=sr_1_1?crid=3RV6V6QUKSCEA&dchild=1&keywords=why+didn%27t+anyone+tell+me+this+shit+before&qid=1620934820&sprefix=why+didn%27t+anyo%2Caps%2C228&sr=8-1
• YouVersion Devotional: www.bible.com/reading-plans/24729

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 Jason discuss: 

• How Jason’s professional career has strengthened his lateral, creative thinking.
• Working for the client first and foremost.
• Business networking and relationship building.
• High compensation for high value.

Key Takeaways: 

• No does not mean it cannot be done, it means that it cannot be done in that certain way.
• There are no secrets from your financial advisor - it all shows up on your balance sheet in the end.
• In your firm, you do not all need to do every job perfectly. Having specialties (with specific cross training) can give you a more rounded firm that can better serve clients through different aspects of their plan.
• When you give someone an ownership stake, it is amazing how different they will think.

"At the end of the day sincerity to what you are and who you are makes more impact on clients than anything else." —  Jason Howard

Connect with Jason Howard: 

Website: https://www.outcomeprivatewealth.com/

LinkedIn: https://www.linkedin.com/in/jason-howard-673642105/

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 Chris discuss: 

• Communicating with clients during downturns.
• The beginning of RCA and how Chris got to where he is professionally.
• Nesting to grow your firm.
• Being involved in the lives of your clients to best be able to serve them.

Key Takeaways: 

• You can win hearts and mindshare when you are proactive in your communication with your clients.
• When you retire, you are switching from getting a paycheck to not, it is important to understand where the money is coming from regularly.
• Putting your money in multiple buckets allows you to understand where the money is and still continue to grow.
• Provide a clear and concise plan that is customized to the client but repeatable.

"This world is getting more complex, not simpler…People just need, want, and desire to find a firm and a group that can help them and then be that firm that they can trust, that they know that you're doing the best job you can, and then they don't have to worry about that anymore." —  Chris Kiley

Connect with Chris Kiley: 

Website: https://www.rca-online.com/

LinkedIn: https://www.linkedin.com/in/chris-kiley-cfp%C2%AE-crps%C2%AE-4047b25b/

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/