The Influential Advisor Podcast

In this episode of The Million Dollar Producer Show, I welcome Frank LaRosa, CEO of Elite Consulting Partners and one of the founding members of the Financial Advisor Success Syndicate, to discuss his journey from financial services to founding a successful consulting firm.

Frank's Journey: From Financial Services to Consulting

• Career Beginnings: He started his career in the financial services industry at Prudential Securities, moving on to become a producer and manager at Smith Barney and Morgan Stanley. His passion for helping financial advisors grow their businesses led him to management roles.
• Founding Elite Consulting Partners: After being shown the door at Morgan Stanley, Frank decided to start his own recruiting and consulting firm, initially named Elite Recruiting and Consulting. Recognizing the importance of viewing clients as partners, he rebranded to Elite Consulting Partners in 2014.

Elite Consulting Partners: A Unique Approach to Financial Advisory Recruitment

• Focus on Financial Advisors: Elite Consulting Partners works with financial advisors and wealth managers, offering a unique consulting approach. They prioritize finding the right fit for both the advisor and the firm, ensuring long-term satisfaction and success.
• Growth and Expansion: Starting from his home, he grew the business into one of the largest firms of its kind, with a team of approximately 65 people. The firm's success is driven by its commitment to doing what's right for the financial advisor, with a strong emphasis on collaboration and long-term relationships.

Elite Marketing Concepts: Enhancing Financial Advisors' Personal Brands

• The Importance of Personal Branding: He emphasizes the significance of personal branding for financial advisors. He shares his experience in leveraging social media, podcasts, and videos to build a genuine and relatable brand.
• Launching Elite Marketing Concepts: Recognizing the need for customized marketing solutions, Frank launched Elite Marketing Concepts. This division offers tailored branding and marketing services, helping advisors create unique and impactful online presences.

Key Takeaways and Future Directions

• The Power of Collaboration: He highlights the importance of working closely with financial advisors to understand their goals and provide comprehensive support. This collaborative approach ensures that advisors receive the guidance and resources they need to succeed.
• Embracing Technology: The pandemic accelerated the adoption of technology in the financial services industry. Frank discusses how Elite Consulting Partners leveraged tools like Zoom and podcasts to maintain and grow client relationships during challenging times.
• Long-Term Vision: Looking ahead, Frank is excited about the future of Elite Consulting Partners and Elite Marketing Concepts. He remains committed to helping financial advisors achieve their goals and adapt to the evolving landscape of the industry.

About our Guest: Frank LaRosa, CEO of Elite Consulting Partners and one of the founding members of the Financial Advisor Success Syndicate

You can learn more about his work at: https://eliteconsultingpartners.com/meet-our-founder/ 

Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of millions of dollars in fees and commissions.

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In this episode I welcome Mike Saunders, the author of Authority Positioning for Financial Professionals, to explore the concept of authority marketing and how it can significantly impact financial advisors' success.

Mike's Journey: From Financial Services to Authority Positioning

• Career Beginnings: Began his career in the financial services field, working for JP Morgan Chase in the mortgage banking industry. His path took a turn when he started providing lines of credit for financial advisors' clients, leading him to realize the importance of authority positioning.
• Transition to Marketing: After the economic crisis of 2007-2008, he pursued a MBA in Marketing and started his own firm, focusing on helping financial advisors grow their businesses through authority positioning rather than traditional marketing tactics.

Authority Positioning

• Understanding Authority Marketing: Mike explains that authority marketing isn't about replacing existing marketing strategies but enhancing them. By positioning oneself as a trusted expert, all other marketing efforts become more effective.
• Components of Authority Positioning: Mike describes the 'Authority Positioning Portfolio,' which includes various elements such as interviews, books, media features, and podcasts that collectively build a professional's credibility.
• Practical Applications: By creating content that educates prospects and existing clients, financial advisors can establish themselves as experts. Mike uses podcast interviews to delve into key educational points, which can then be leveraged in marketing campaigns.

Guest Podcasting and Media Features

• Importance of Guest Appearances: He highlights the value of being a guest on podcasts and media channels. These appearances elevate the professional's status and reach new audiences, reinforcing their authority.
• Strategic Alliances: Authority positioning is crucial in building relationships with centers of influence, such as CPAs and estate planning attorneys. Having a well-developed authority portfolio makes it easier to establish these valuable connections.

Zero Moment of Truth (ZMOT)

• Pre-Framing Prospects: The concept of ZMOT emphasizes the importance of what potential clients find about a professional online before making contact. A strong online presence with authority positioning assets can significantly influence their decision.
• Leveraging Current Clients: Beyond attracting new clients, authority positioning helps maintain relationships with current clients, ensuring they stay loyal and continue to trust the advisor's expertise.

Taking Action

• Overcoming Imposter Syndrome: Mike encourages financial advisors to overcome self-doubt and take steps towards building their authority. With services designed to be easy and enjoyable, professionals can quickly see the benefits of authority positioning.

About our Guest: Mike Saunders, MBA Authority Marketing Strategist

You can learn more about his work at: https://mikesaunders360.com/

Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of millions of dollars in fees and commissions.

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In this episode, I welcome Anton J. Anderson back to the show for the third time. Anton,  CEO of Elite Resource Team and co-author of "The Art of Collaboration: When 2 Tribes Stop the War".

He shares his journey, the unexpected challenges he faced, and the valuable lessons he learned while writing his book.

Anton’s Journey

• Career Evolution: Anton discusses his decade-long focus on the team-based model and how it shaped his expertise in creating collaborative environments for financial advisors and CPAs.
• Author’s Challenges: He reveals the surprising difficulties he faced while condensing extensive knowledge into a concise, impactful book.
• Mindset Shifts: He emphasizes the importance of refining communication and mastering content through the process of writing.

he Power of the Book: Enhancing Professional Credibility

• Authority by Association: Anton highlights the strategic advantage of co-authoring the book with CPA Paul Latham and featuring forwards by well-respected professionals like John Kuttin and Jackie Meyer.
• Leveraging the Book: He discusses how the book serves as a cornerstone for various communication strategies, enhancing personal and professional branding.

Effective Marketing and Distribution Strategies

• Book Signings and Events: Anton shares the success of incorporating book signings at events, utilizing visual aids like branded table runners to maximize promotional opportunities.
• Media Recognition: The book’s release as an Amazon bestseller attracted attention from notable industry sources, leading to increased visibility and credibility.
• Niche Focus: Anton advises fellow advisors to write books on unique, niche topics to stand out in a crowded market.
• Collaborative Opportunities: He encourages leveraging the book to build stronger relationships with CPAs and clients, creating a synergistic effect in professional networking.

Key Takeaways and Future Directions

• Embrace the Power of Authorship: Anton underscores the substantial return on investment from writing a book, not just in financial terms but in enhanced status and opportunities.
• Continued Innovation: He hints at upcoming projects and initiatives that will further solidify the book’s themes and continue to promote collaboration and advanced planning in the industry.

About our Guest: Anton Anderson is the CEO of Elite Resource Team.

You can learn more about his work at:
https://elitert.com/
https://www.linkedin.com/in/antonjanderson/
https://www.antonjanderson.com/
Get a copy of his book:  The Art of Collaboration: When 2 Tribes Stop The War

About Your Host:  Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of millions of dollars in fees and commissions.

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In this episode, I welcome Michael Sir, president and co-founder of One Protection, and Carter Kowalski, account executive at Secura Consultants, to discuss the critical importance of disability insurance and its role in comprehensive financial planning.

Michael's Journey: 

• Early Life and Career Transition: Growing up on a farm in Iowa, Michael saw the impact of health issues on family stability when his father had a heart attack. This fueled his passion for disability insurance.
• Professional Focus: As president and co-founder of One Protection, Michael provides software that helps financial advisors sell disability insurance effectively.

Carter's Path: 

• Career Start: Carter transitioned from healthcare management to insurance, finding a passion for helping clients secure their financial futures through comprehensive income protection.
• Role at Secura Consultants: As an account executive, Carter helps advisors navigate the complexities of disability insurance, ensuring clients are well-protected.

Secura Consultants and One Protection: A Collaborative Approach

• Understanding the Need: Michael and Carter emphasize the often-overlooked importance of disability insurance, highlighting real-life examples where proper coverage made significant differences.
• Three-Legged Stool Approach: They discuss the synergy between advisors, product providers like Secura Consultants, and presentation tools from One Protection to ensure clients receive the best service and coverage.

Key Success Stories and Lessons

• Impactful Cases: Carter shares a story about a medical professional who maintained financial stability despite an unforeseen condition, highlighting the importance of adequate coverage.
• Advisors' Reluctance and Solutions: Michael explains why many advisors hesitate to offer disability insurance and provides practical solutions to integrate these critical conversations into their practice.

Innovations in Disability Insurance

• Technological Advancements: The episode explores technological innovations that have streamlined the underwriting process, making it easier and faster for advisors and clients.
• Presentation Tools: Michael introduces One Protection's virtual presentation software, designed to educate and engage clients, making the insurance process more transparent and accessible.

Guiding Principles and Professional Insights

• Michael's Philosophy: Emphasizing the importance of doing the right thing and having tough conversations about financial protection.
• Carter's Approach: With a focus on positivity and client-centered service, a positive attitude has helped him build trust and deliver impactful solutions for clients.

About our Guests: 

• Michael Sir, president and co-founder of One Protection
• Carter Kowalski, account executive at Secura Consultants

You can learn more about their work:
https://www.linkedin.com/in/michael-sir-54b7a3120/
https://www.linkedin.com/in/carter-kowalski-21a74b103/

About Your Host:  Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of millions of dollars in fees and commissions.

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In this podcast episode, I welcome Bruce Gendein, a pension consultant with McHenry Advisors, to discuss the complex world of pension consulting and the critical role of cash balance plans for business owners.

This episode explores Bruce's extensive background and the evolution of pension consulting, highlighting the unique benefits of cash balance plans in tax planning and retirement savings.

Bruce's Journey: From Actuarial Training to Pension Consulting

• Career Path: Originally trained to be an actuary, Bruce transitioned through various roles in the computer business and medical facilities management before finding his niche in the pension business.
• Professional Achievements: Over four decades, he has built and sold multiple actuarial, consulting, and third-party pension administration firms. He now works exclusively with McHenry Advisors, administering approximately 2,200 pension plans with a team of nine actuaries.

McHenry Advisors and The Importance of Cash Balance Plans

• Consulting Services: McHenry Advisors offers continuity and stability for financial advisors and their clients by ensuring a seamless transition and consistent service through a large, experienced staff.
• Virtual Family Office (VFO) Expertise: Bruce acts as a VFO expert, collaborating with financial advisors and accountants to provide specialized knowledge and support in pension consulting and tax planning.
• Defined Benefit vs. Defined Contribution Plans: Bruce explains the differences between 401k profit-sharing plans (defined contribution) and cash balance plans (defined benefit), emphasizing the advantages for business owners.
• Target Audience: Successful business owners who are making more than they need to live on, dislike paying taxes, and want to save a significant amount for retirement quickly.

Elite Resource Team (ERT) and the Virtual Family Office Model

• Collaborative Approach: ERT's model fosters collaboration among financial advisors, accountants, and specialized experts like Bruce, ensuring comprehensive and effective planning for clients.
• Benefits of the VFO: Financial advisors can leverage the expertise of seasoned professionals, enhancing their credibility and providing clients with top-notch service without needing to master every aspect themselves.

Key Takeaways and Future Directions

• Flexibility and Tax Benefits: Bruce highlights the flexibility of pension plans, their potential for significant tax savings, and the growing importance of tax-deductible strategies in light of increasing national debt.
• Owner Benefits: Adding a pension plan to a 401k provides substantial benefits for business owners, making it an essential component of a well-rounded retirement strategy.
• Creative Funding Approaches: Utilizing life insurance contracts within pension plans can provide a mix of taxable and tax-free future income, maximizing after-tax benefits.

About our Guest:
Bruce Gendein, a pension consultant with McHenry Advisors

You can learn more about his work at:
LinkedIn:  https://www.linkedin.com/in/brucegendein/

About Your Host:  Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of millions of dollars in fees and commissions.

Support the show

In this episode, I welcome Casey Clark, CEO of Cultivate Advisors. Casey shares valuable insights into the transformative power of focusing on enterprise value to significantly elevate a business's market position.

Journey to Business Mastery: From Paper Routes to CEO

• Explore his entrepreneurial journey from his early days managing paper routes to his leadership role at Cultivate Advisors. 
• Discover how personal experiences and challenges shaped his approach to business coaching, focusing on actionable advice rather than traditional methods.

Defining the Edge: Cultivate Advisors' Unique Approach

• Learn about the distinctive strategy of Cultivate Advisors in the crowded business coaching industry. Unlike typical coaches, he and his team offer hands-on advisory services, leveraging real-world entrepreneurial experiences to drive meaningful business growth and enhance enterprise value.

Revolutionizing Enterprise Value: Strategies for Business Growth

• He elaborates on the concept of enterprise value and its critical role in assessing a company's worth, similar to real estate valuation. 
• Casey explains how improvements in this area can significantly increase a company's market value without necessarily boosting revenue.

Key Insights for Elevating Business Value

1. Enterprise Value as a Core Metric: Unpack the importance of focusing on enterprise value rather than just revenue, with practical tips on how business owners can shift their metrics for better financial outcomes.
2. The Importance of Quality and Strategic Risk Management: Discuss the critical role of delivering high-quality products/services and managing business risks through informed decision-making and robust planning.
3. The Power of Expert Partnerships: Explore how working with specialized advisors like Cultivate Advisors can amplify your business's growth potential and facilitate smoother transitions and scalability.

Elite Growth Academy: A Convergence for Collaborative Learning

Anticipate the upcoming Elite Growth Academy in San Diego, where advanced strategies for business growth and value acceleration will be shared. It is a vital opportunity for professionals to learn, network, and collaborate.

About our Guest:
Casey Clark, CEO of Cultivate Advisors

You can learn more about his work at:
Website: https://cultivateadvisors.com/our-advisors/casey-clark/

About Your Host:  Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of millions of dollars in fees and commissions.

Support the show

In this episode, I have the pleasure of welcoming Alison Susko, VP of Community at AssetMap, to explore the revolutionary impact of visual storytelling on the financial advisory landscape. 

She shares her in-depth insights on how AssetMap's innovative approach is redefining advisor-client interactions, promoting heightened engagement and understanding.

AssetMap: Simplifying Complexity for Meaningful Conversations 

• The Genesis: Alison delves into the origins of AssetMap, tracing its roots to founder Adam Holt's experiences as a financial advisor. She highlights the pressing need for streamlined, visually captivating communication tools that bridge the divide between intricate financial strategies and client comprehension.
• The Power of Conversational Planning: AssetMap's guiding philosophy centers on "conversational planning" - meeting clients where they are and sparking productive dialogues through accessible, easily digestible visuals that encapsulate the essence of their financial narrative.

Seamless Communication: Bridging the Physical and Digital Divide 

• Versatility Across Platforms: Alison underscores AssetMap's adaptability, with its visual tools engineered to deliver consistent impact across various settings, from in-person meetings and virtual consultations to impromptu discussions at a client's kitchen table.
• The Post-Pandemic Landscape: The conversation delves into the evolving preferences for in-person and remote advisory services in the wake of the pandemic. She observes a balanced 50-50 split and the enduring appeal of remote meetings, particularly among older clients who have embraced digital communication with enthusiasm.

Empowering Advisors: Technology as an Enabler 

• The Concept of Advisor Intelligence (AI): Alison introduces the notion of "Advisor Intelligence" (AI), emphasizing AssetMap's dedication to empowering advisors with technology that complements and enhances their unique strengths in forging client relationships and delivering personalized guidance.
• Seamless Integrations and Strategic Partnerships: The discussion explores AssetMap's extensive integrations with trusted vendors in the financial technology ecosystem, illustrating how these connections streamline data entry, save time, and provide a holistic view of a client's financial tapestry.

The Future of Financial Advising: Trends and Opportunities 

• Navigating the AI Revolution: She shares her perspective on the growing influence of artificial intelligence (AI) in the financial industry. She emphasizes the importance of striking a delicate balance between harnessing AI's potential and preserving the human touch that defines the advisor-client relationship.
• Simplifying the Complex: The conversation highlights the broader trend of financial technology companies developing solutions that demystify complex topics like tax planning and estate planning. These advancements enable advisors to serve as the central touchpoint for their clients' multifaceted financial needs.

About our Guest:
Alison Susko, is VP of Community at AssetMap.

You can learn more about her work at:
Website: https://www.asset-map.com/team-1

About Your Host:  Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of millions of dollars in fees and commissions.

Support the show

In this episode, I welcome Ben Golden, founder and CEO at Golden Tax Relief, to delve into the intricate world of tax resolution and planning.

This episode unveils Ben's comprehensive approach to navigating IRS challenges, emphasizing his dedication to client advocacy and his expertise in tax resolution.

Ben's Journey: From Tax Crisis to Tax Expert

Career Evolution: Originally focusing on tax resolution, Ben expanded into tax planning as a response to the slowdown of IRS operations during COVID-19. This expansion was driven by his desire to continuously support clients in managing their tax obligations efficiently.

Specialization in Tax Resolution: Ben discusses the pivotal experiences that shaped his career, including his own daunting encounter with the IRS. These experiences underscore his commitment to advocating for clients, often navigating complex, stressful situations to secure favorable outcomes.

Golden Tax Relief: Empowering Taxpayers

Client Advocacy Explained: Ben details his role in helping clients handle the IRS, providing insights into the emotional and financial toll these challenges can take and how he assists in transforming these situations.

Challenging the IRS: A standout moment is Ben’s recount of his personal battle with the IRS, illustrating his deep understanding of IRS procedures and his strategic acumen in defending his rights and those of his clients.

Elite Resource Team and Collaborative Tax Planning

Integrating Expertise: We discuss how Ben’s work aligns with the collaborative models within the Elite Resource Team, highlighting the synergy between advisors and CPAs in crafting proactive tax strategies.

Future of Tax Practice: The conversation also explores the impact of technological advancements like AI in tax practice, and Ben's proactive approach to integrating these tools to enhance service delivery.

Key Takeaways and Future Directions

The Importance of Proactive Planning: Ben emphasizes the necessity of proactive strategies in tax planning, advocating for early and informed action to prevent future tax crises.

Looking Ahead: As the landscape of tax services continues to evolve with technological advancements, Ben predicts increasing reliance on sophisticated tools and strategies to enhance the effectiveness of tax resolution and planning.

About our Guest:
Ben Golden, is founder and CEO at Golden Tax Relief.

You can learn more about his work at:
Website: https://www.goldentaxrelief.com/about

About Your Host:  Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of millions of dollars in fees and commissions.

Support the show

In this episode, I welcome Phil Putney, a CPA and author of the Amazon number one bestseller, "The Tax Smart Retiree: A Guide to Thriving in Your Golden Years." Over the past year, we collaborated to transform Phil's extensive experience and knowledge into a book that guides retirees through the complexities of tax-efficient retirement planning.

From CPA to Financial Advisor with a Tax Focus

• Professional Evolution: Phil began his career over 30 years ago as a CPA with a master's in taxation. His journey took a pivotal turn when he integrated financial advisory services, driven by client needs for cohesive tax and investment strategies.
• Specialization in Retirement Planning: Recognizing a niche in retirement planning, He obtained his Personal Financial Specialist designation, enabling him to blend his tax expertise with financial advisory services.

The Tax Smart Retiree: Simplifying Complex Tax Strategies for Retirees

• Unique Tax Perspective: Phil emphasizes the importance of long-term tax planning, which is often overlooked in traditional retirement planning. His book provides strategies to manage and minimize taxes through various stages of retirement.
• Holistic Retirement Planning: The book extends beyond tax advice, offering insights into Social Security, required minimum distributions, and the impact of losing a spouse, which are crucial for comprehensive retirement planning.

Educational Initiatives and Phil's Teaching Philosophy

• Commitment to Education: His passion for education is evident through his classes and now, his book. His goal is to equip retirees with the knowledge to make informed decisions about their financial futures.
• Workshops and Classes: Prior to the book, Phil conducted extensive workshops that covered similar content. The book aims to reach a broader audience by condensing his teachings into an accessible format.

Insights for Future Financial Planning

• Anticipating Tax Changes: Phil discusses the potential implications of expiring tax laws and emphasizes the need for proactive planning based on current legislation.
• Retirement Income Planning: A significant focus of Phil's approach is understanding the personal spending needs in retirement and planning accordingly, using tax-efficient strategies to sustain the desired lifestyle.

Key Takeaways and Future Directions

• Importance of a Customized Plan: Phil stresses that every individual's financial situation is unique, and a one-size-fits-all approach does not apply in retirement planning.
• Advice for Prospective Clients: For those interested in deeper engagement, Phil offers initial consultations to discuss personal financial situations and explore the fit for his services.

About our Guest:

Phil Putney author of "The Tax Smart Retiree: A Guide to Thriving in Your Golden Years."

You can learn more about his work at:
www.afsfinancialgrp.com
https://www.thetaxsmartretireebook.com/
Phil Putney's LinkedIn

About Your Host:  Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of millions of dollars in fees and commissions.

Support the show

Listen to the full episode on the Influential Entrepreneurs Podcast with Mike Saunders episode here:
https://businessinnovatorsradio.com/interview-with-paul-mcmanus-co-founder-and-ceo-of-more-clients-more-fun-author-podcast-host/

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