The Model FA

This is Part 2 of the conversation between our president, David DeCelle, and Ivan Farber, author of Conversations: How to Manage Your Business Relationships One Conversation at a Time.  In Part 1 of our podcast, Ivan talked about how to build rapport in a conversation and how to proactively monitor conversation engagement. In this Part 2, Ivan gives us a more concrete formula on how to bring out the specific needs of a prospective client. In this episode, you will learn how to plan a conversation that will naturally guide prospective clients into discussing their true needs. Once you understand their needs, you’ll be able to show how your professional experience and services can help.  Ivan breaks the process into five parts in what he calls the CLEAR method... Links and resources Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered.

Our president, David DeCelle, sat down to speak with Ivan Farber, a consultant and an author on a mission to give you a clear formula for conversational success. Virtually every financial advisor has heard about (or read) "How to Win Friends and Influence People" by Dale Carnegie. However, many have walked away from that landmark book wondering about how to implement those ideas in their own conversations. Ivan's work sets out to give professionals specific, practical tools to level up their conversations — and through them, the quality of their impact and positive change.  In this Part 1 of the episode, Ivan shares tips you can use to proactively monitor conversation engagement.  What's the level of rapport?  Does the other party like what's happening? Do they trust what's happening?  Do they like you? More Episode Details  Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Our team sat down last month to talk all about Client Experience with Reese Harper, CEO of Dentist Advisors. On this show, Reese Harper joined our host Patrick Brewer to answer questions from our listeners and readers. What does “client experience” actually mean? What should your clients see, feel, interact with?  What are the components of an effective, strategically designed client experience? What are the first steps an advisor can take to evolve the CX into the future? Tune in to the conversation and get ready to take notes! If you have ever struggled to build relationships that naturally grow deeper as the client’s needs change, then this conversation will help you. In a discussion facilitated by our Executive Podcast Producer Eric Lee, you will hear Patrick Brewer and our guest Reese Harper share strategies for establishing the relational depth that is required to engage in a true financial planning partnership.Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Our team and a guest expert Phil Seibel of Collaborative Planning Group sat down last week to discuss insurance planning in a fiduciary firm. Together, they answered questions from our listeners and readers.   Many insurance products have a bad rep in the financial advisory space. Are there any products that just flat-out should never be sold to anyone? How is the process of getting your client into an insurance policy different today vs. 20 years ago?     How does risk management planning best fit into a holistic financial planning engagement?     How important is long term care planning for advisors — and for their clients?      With all the buzz about “no commission insurance”, is that the optimal solution for a fiduciary? What about fee-based insurance?     A lot of people feel that a fiduciary should never accept a commission because commissions promote bias. What are your thoughts?   Tune in to the conversation and get ready to take notes. If you are unsure how the insurance industry is changing, how to choose the best insurance products for your clients, and whether or not commissions promote bias, you will walk away with lots of food for thought. In a discussion facilitated by our Executive Podcast Producer Eric Lee, you will hear David DeCelle, Dan Allison, and our guest Phil Seibel discuss strategies, share personal experiences, and push against some antiquated ways of thinking about insurance planning. Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with likeminded advisors and share the day-today challenges and wins of running a growing financial services firm.

Our team sat down last week to talk about All Things COI’s. Together, they answered questions from our listeners and readers. What am I looking for in a COI? How do I break through the noise and stand out to a new COI — without looking like I am just fishing for new clients? What are some of the barriers and best practices for forming an agreement that will allow both parties to move forward with enthusiasm and mutual commitment? How does COVID impact center-of-influence partnerships? Tune into the conversation and get ready to take notes. If you have ever struggled to connect with a COI, explain what you do, or build a relationship where they feel comfortable referring their clients to you, then you are about to get a secret weapon. In a discussion facilitated by our Executive Podcast Producer Eric Lee, you will hear Patrick Brewer, David DeCelle, and Dan Allison share strategies for establishing mutually beneficial relationships, overcoming objections, and making an impact. Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. Our TeamModel FA Creative Director and Executive Podcast Producer, Eric LeeModel FA Founder and Podcast host, Patrick BrewerPresident of Model FA, David DeCelleFounder and President of the Feedback Marketing Group, Dan Allison If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with likeminded advisors and share the day-today challenges and wins of running a growing financial services firm.

Our team has been working around the clock to support advisors and serve our own wealth management clients through this pandemic. COVID-19 has brought many things to the surface, but there is one area that has demanded a tremendous amount of focus, attention, and energy. How can advisors strengthen and grow their practices in the midst of many unknowns? Our Creative Director and Executive Producer of the Model FA Podcast, Eric Lee, sat down with our podcast host and Founder, Patrick Brewer. The two were joined by President of Model FA, David DeCelle, and Dan Allison, Founder and President of the Feedback Marketing Group. Together, they spent over an hour answering questions from our listeners and readers. What do advisors have to change immediately in order to survive?What needs to change in the next 12 months and beyond? How is the industry evolving — and what does that mean for advisors today? Tune into the conversation and get ready to take notes, because guys around this table get real. They don’t hold back as they share how they are leading their teams, what they have personally changed as a result of this pandemic, and where they think the industry is going. Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. Resource Link

My guest today is Jim Palumbo. Jim is a veteran of the financial services industry, with more than 25 years of experience in creating and managing organizations that grow and preserve wealth.  In this conversation, Jim explores different options that are available to today’s advisors who are looking for a path to independence, and why it’s important for an advisor to begin with what his or her vision and purpose of independence is.  Don’t miss one of our favorite moments, when Jim shares his experience of creating what he calls a “Living Library” at Dynamic Advisor Solutions. It may be helpful to read an article to solve a problem, but it’s measurably better to get access to a community of professionals who have already solved that problem and looked at it from a dozen different angles.As you think about this conversation, how are you inspired to differentiate your firm? Will you discover new partnerships, practice management systems, business development ideas, or creative and unique client experiences? Whichever area you begin with, take Jim’s advice and connect with a peer group to strengthen your practice and build the life you’ve dreamed about. Looking for more ideas about growing your practice? Join the Model FA Facebook Community, where you will find expert advice on how to launch, grow, scale, and transform your firm with an incredible client experience. Or, check out our Model FA Accelerator, a premier coaching and practice management program for entrepreneurial financial advisors. Resource Links Connect with The Model FA Web  Social

David is the Founder and Chief Executive Officer of DPL Financial Partners, a network that connects Registered Investment Advisors and fee-based advisory channels with insurance solutions from the nation’s top carriers.  David started DPL with an idea to distribute variable annuities through RIAs and fee-only advisors. That seemed like a gamble at the time. David’s hunch proved accurate. In just two years, DPL membership achieved an RIA footprint that approached some of the largest, well-established platforms in the industry.  In this conversation, we discuss how DPL has built a turnkey, product-agnostic insurance platform for RIAs. Insurance is an important part of a holistic financial plan. David argues that advisors can — and should — use insurance products when that’s the best and most appropriate solution for their clients. However, fee-only advisors have historically had to refer their clients to outside insurance professionals because of commissions. DPL eliminated the need to do that. Resource Links Looking for more ideas about growing your practice? Join the Model FA Facebook Community, where you will find expert advice on how to launch, grow, scale, and transform your firm with an incredible client experience. Or, check out our Model FA Accelerator, a premier coaching and practice management program for entrepreneurial financial advisors.

In this conversation, we discuss the Virtual Advisor System that Derek created to empower more advisors to grow their businesses in today's digital ecosystem. Derek’s own practice is location independent, and after having to figure things out for himself the hard way, he’s teaching other advisors how to tap into virtual tools and systems. This podcast episode will be especially useful for those who want to add a location-independent component to their service offering, or those who are curious about what it takes to run a 100% virtual practice.  As you think about this conversation, ask yourself these questions. Could you scale your business by outsourcing certain workflows and processes? How could you lean into virtual tools to enhance and round out the service that you deliver? And how could you add more value by shifting your “belly to belly” conversations to a virtual system? Looking for more ideas about growing your practice? Join the Model FA Facebook Community, where you will find expert advice on how to launch, grow, scale, and transform your firm with an incredible client experience. Or, check out our Model FA Accelerator, a premier coaching and practice management program for entrepreneurial financial advisors. Resource Links

Whitney Hansen is a Millennial financial coach. After paying off $30,000 in 10 months, hacking her way to a $472 MBA, and buying her first home at 19, Whitney discovered her love for helping Millennials take control of their financial life. The recognition and acknowledgment of generational wealth gaps (that exist largely due to student debt) have been the driving force for why and how Whitney has created her Millennial coaching program.  In this conversation, we discuss why it’s important for financial advisors to embrace digital marketing in order to reach a younger audience. Don’t miss one of our favorite moments, when Whitney shares that it’s ok to be honest: “I don’t know everything”. This kind of authenticity can help your clients connect and trust you more. As you think about this conversation, which “getting started” tips stand out to you the most? How do you deliver support and intrigue to your Generation Z and Millennial clients? Where are you connecting with your audience? And how are you creating an authentic and “real” brand experience that inspires clients to reach out, without being ashamed of their imperfections? Looking for more ideas about growing your practice? Join the Model FA Facebook Community, where you will find expert advice on how to launch, grow, scale, and transform your firm with an incredible client experience. Or, check out our Model FA Accelerator, a premier coaching and practice management program for entrepreneurial financial advisors.  Resource Links

In this conversation, we change things up a bit and ask Aaron to share his journey in the financial advice industry. Aaron’s career progression in financial services had him working in 3 very different wealth management and financial advisory models in quick succession. This experience of having seen the industry from different angles gave him the confidence to start Rapport Financial in January 2017 with just 4 clients.There are so many different career paths available to advisors, and that's part of the reason why we wanted to have Aaron on the podcast. He has learned first hand the need for good mentorship — and the importance of knowing what role you want to play in this industry. Don’t miss one of our favorite moments, when Aaron shares what he believes are the most important elements for anyone starting out in the financial advice industry. Do your research. Be a planner. Bring your discipline, hard work, and intention. Meet with professionals, ask them questions, and get a mentor to give you direct feedback. Resource Links Looking for more ideas about growing your practice? Join the Model FA Facebook Community, where you will find expert advice on how to launch, grow, scale, and transform your firm with an incredible client experience. Or, check out our Model FA Accelerator, a premier coaching and practice management program for entrepreneurial financial advisors.

My guest today is Jody Padar, CEO and Principal of the New Vision CPA Group, a public accounting firm based in the Chicago area. In this conversation, Jody talks about what it would take for advisors and CPAs to live a more balanced life and to run profitable firms — without working 80+ hours a week. Don’t miss one of our favorite moments, when Jody explains that optimizing the technical side of tax accounting doesn’t just benefit the client. It also sets CPAs up to spend more time working through their client’s holistic financial needs.  As you think about this conversation, where does AI fit into the evolution of your practice? How are you preparing to keep up with client expectations for quicker, more integrated service? Share your thoughts in the Model FA Community — and learn how the Model FA Accelerator can help you take your firm to the next level of organic growth. Looking for more ideas about growing your practice? Join the Model FA Facebook Community, where you will find expert advice on how to launch, grow, scale, and transform your firm with an incredible client experience. Or, check out our Model FA Accelerator, a premier coaching and practice management program for entrepreneurial financial advisors. Resource Links

My guest today is Joseph (Joe) Anthony. Joe is the President of Gregory FCA Communications, a full-service, strategically integrated public relations firm. Gregory FCA Communications has been active in the financial space since 2002. The firm offers “tech-enabled PR” including online, data-backed, and social media programs. In this conversation, we dive into the impact and influence that PR and marketing can have on the success of a financial firm. Joe sees PR as a powerful tool for building trust. By using an intentional PR strategy, advisors can communicate their expertise, share thought leadership, and even enhance their client experience. As you think about this conversation, remember that PR can be the sizzle — but you still need the steak. In order to take advantage of Joe’s advice, you need an effective PR strategy. Who are you trying to attract — and what story do you plan to tell them? You will also need to invest time and money into generating great content, whether for your own website or for publishing elsewhere.   Looking for more ideas about growing your practice? Join the Model FA Facebook Community, where you will find expert advice on how to launch, grow, scale, and transform your firm with an incredible client experience. Or, check out our Model FA Accelerator, a premier coaching and practice management program for entrepreneurial financial advisors. Resource Links

In this conversation, we discuss that a great advisory practice is, at its core, a behavioral coaching practice. Daniel reflects on his 10+ years of experience in the financial services industry, and on how advisor-client engagement can bring about better outcomes through meaningful relationships and value-focused behavioral changes. Don’t miss one of our favorite moments, when Daniel talks about the 3 E’s an advisor can work through to provide their clients with the best behavioral coaching. In Daniel’s model, Education, Environment, and Encouragement together can help clients make incremental behavioral changes and achieve their desired financial goals.  As you think about this conversation, do you see yourself engaged in behavioral coaching? Or are you unsure of how to bring these practical applications to your client experience? The tools that Daniel discusses will not only help you shift your thinking, but will also demonstrate how the behavioral coaching aspects of your practice can make a real dollar impact in your clients’ lives. Looking for more ideas about adding behavioral coaching to your practice? Join the Model FA Facebook Community, where you will find expert advice on how to launch, grow, scale, and transform your firm with an incredible client experience. Or, check out our Model FA Accelerator, the industry’s first Silicon Valley-style accelerator and coaching program for entrepreneurial financial advisors. Resource Links Connect with The Model FA Web  Social

My guest today is Dominique Molina. Dominique is the co-founder and President of the American Institute of Certified Tax Coaches. As the driving force and visionary behind the San Diego-based company, she set out to change the way tax professionals approach tax planning. She created an elite network of tax professionals including CPAs, EAs, attorneys and financial service providers who are trained to help their clients proactively plan and implement tax strategies that can rescue thousands of dollars in wasted tax. Dominique is also a published author of two books on taxation. In this conversation, we discuss advanced tax reduction. Dominique shares some of the best ways financial advisors can provide proactive planning to help solve the challenges of America’s taxpayers. Advisors bring a world of opportunity and awareness of the danger in the world for their clients, and when it comes to tax planning there is a need for renewed professionalism that is client focused. Dominique shares about the major difference in automated tax planning vs. advisor led is the client needs and the judgement of the professional advisor. The advisor’s judgement is the added value to the expertise that is brought to the table and it truly is the competitive advantage to make you the trusted advisor. Looking for more ideas about creating value for your financial advice practice? Join the Model FA advisor community, where you will find expert advice on how to launch, grow, scale, and transform your firm. Resource Links

My guest today is Ryan Shanks. Ryan has over 19 years of experience in financial services. He is the Founder & CEO of FA Match, a digital career management platform for financial advisors. He is also the CEO of Finetooth Consulting, which provides transition consulting, outsourced recruiting and succession planning to financial advisors within the United States. In this conversation, we discuss how the advisor is always the product of the firm. Advisors bring enterprise value to the firm. As an advisor, if you don’t know your value you may be more passive in your career than you should be. Ryan shares about why asking the question, “What is your purpose and what do you want to be doing in this business?” is an important step in knowing if your current firm is the right place for you.Don’t miss one of our favorite moments, when Ryan talks about advisors being hired for the wrong role. Ryan mentions that it is a two part issue, the firm needing to fill a seat, but not knowing the advisors strengths beyond their credentials. He encourages the firm to understand the strengths of the advisor to align them in the best fit role at the firm. Firms also need to be open to the new perspective the younger generation can bring the firm. Looking for more ideas about creating value for your financial advice practice? Join the Model FA advisor community, where you will find expert advice on how to launch, grow, scale, and transform your firm. Resource Links

My guest today is Jason Wenk. Jason is a fintech executive, writer, self-proclaimed math geek, and investment systems developer. He has been working within the financial advise world for over 19 years and has witnessed how underserved the everyday investor is again and again. This motivated Jason to create several successful companies that provide an avenue “to do more good in the world.”  Most recently, he founded Altruist to build a fully-digital brokerage platform with commission-free trading. “Altruist is on a mission to make investing fair for everyone, allowing real people to earn more while paying less.” In this conversation, we do things a little differently than our past episodes and Jason shares with us the story of who he is and how he has built several successful companies, all while flying under the radar in the finance network.  We discuss how the old way of doing business is coming to an end, and that Jason can see a potential for millions of people in need of advice gaining access to quality client care, while keeping it reasonably priced. We talk about the current systems being non accessible to the blue collar worker, and Jason asks the question, “Are you wanting to help people or are you wanting to only help RICH people?” Looking for more ideas about video blogging for financial advisors? Join the Model FA advisor community, where you will find expert advice on how to launch, grow, scale, and transform your firm. Resource Links Connect with The Model FA Web  Social Did you enjoy the Model FA Podcast? Never miss an episode! Subscribe to get automated updates about all future episodes. Enter your email address here

My guest today is Josh Patrick. Josh is a Certified Financial Planner®, a Certified Financial Transitionist®, a Chartered Financial Consultant®, a Chartered Life Underwriter®, a serial entrepreneur, a writer, reader, and a thinker.  Josh Patrick is a contributor to The New York Times’ You’re the Boss blog, as well as the author of Stage 2 blog Creating Value.  Josh’s main focus in life is helping private business owners create extraordinary value with their businesses and their lives. He draws on rich life experiences during his almost forty years of working with his favorite people, private business owners, to help them create great outcomes. On his podcast (called “The Sustainable Business”), Josh Patrick interviews thought leaders from many industries to help you think about your business twenty, thirty, or even more years into the future. In this conversation, we discuss how your firm fits into the future of the financial services industry. I have enjoyed this conversation. The wealth management industry is about as dysfunctional as an industry could be, and without its ridiculous margins most people in this business would fail. Josh Patrick makes a case for niche marketing, and looks forward into the future with ideas on how to make your business sustainable in an industry that’s likely to become even more regulated.   Don’t miss one of our favorite moments, when Josh breaks down the importance of mind-mapping to define the kinds of clients you should be working with. It’s a simple exercise that you can do on a piece of paper right as you listen to the podcast, and it might turn out to be the most valuable thing you’ve done for your business this year.  Do you have the mindset that you can’t afford to not service somebody? Or do you have the mindset that you can’t afford to service somebody? How would your capacity grow if you were able to know which clients you should be serving? I hope you will find many practical ideas to try. Looking for more ideas about video blogging for financial advisors? Join the Model FA advisor community, where you will find expert advice on how to launch, grow, scale, and transform your firm. Resource Links Connect with The Model FA Web  Social Did you enjoy the Model FA Podcast? Never miss an episode! Subscribe to get automated updates about all future episodes. Enter your email address here

My guest today is Bill Winterberg. Bill is founder and president of FPPad.com and a respected personality in the financial planning industry. Bill is probably the only fintech vlogger in the United States (see his YouTube channel here) and is widely recognized as an independent authority on the subject of technology in financial services. In this conversation, we discuss the importance of using video blogging for financial advisors to showcase their expertise and value to both clients and prospects. When you take a concept and show it in a video, using authentic communication that isn’t blog-speak, you supercharge your ability to connect with your audience. Bill provides an objective and unbiased perspective of technology trends in the industry. He is generous with tips for all advisors who want to grow a practice with using video blogging.  Don’t miss one of our favorite moments, when Bill explains why most advisors have an aversion to video, and what you can do to get over it. Are you afraid of being on camera?  How could your clients benefit from you showing them something on video (as opposed to writing a lengthy email)? You will love all the practical ideas shared in this episode. I hope it inspires you to shoot a video today! Looking for more ideas about video blogging for financial advisors? Join the Model FA advisor community, where you will find expert advice on how to launch, grow, scale, and transform your firm. Resource Links Connect with The Model FA Web  Social Did you enjoy the Model FA Podcast? Never miss an episode! Subscribe to get automated updates about all future episodes. Enter your email address here  

My guest today is Emily Binder. Emily is an entrepreneur, marketing strategist, and founder of Beetle Moment Marketing, a voice-first consultancy based in Austin, Texas. Applying over a decade of experience in running successful marketing initiatives from startups to Fortune 500 brands, Emily helps her clients advance their brands by capitalizing on new technology. Marketing practices change fast. Voice technology is emerging as the next component of successful marketing strategies. From voice-first SEO to capturing the content-distribution market with smart speakers, advisors have an opportunity to make headway and connect with their clients now.  In this conversation, we discuss how financial advisors and planners can use their greatest tool, their voice. In her work, Emily focuses on voice technology including  AI and voice assistants, branded audio content, and social media. In this episode, Emily helps advisors explore the possibilities of connecting with clients through using voice-activated tools like Alexa and Google Home through flash briefings and podcasts. In order to do that, you need to differentiate your brand — and to tell a compelling story that’s concise, informative, and easy to access.    Don’t miss one of our favorite moments, when Emily invites our listeners to not be left behind the advance of voice technology. She compares it to the move from desktop to mobile. As clients shift away from typing, tapping, and swiping to use voice-activated searches for information, you will want your firm to show up at the top of the search results.   If you’d like to get more tips and ideas from Emily, you can subscribe to her weekly podcast, Beetle Moment Marketing, and to her daily Alexa Flash briefing called Voice Marketing - Daily Beetle Moment. Both are excellent resources for financial advisors to build a practice that’s relevant and irresistible to clients. Resource Links Connect with The Model FA Web  Social Did you enjoy the Model FA Podcast? Never miss an episode! Subscribe to get automated updates about all future episodes. Enter your email address here