Why Serving Business Owners is the Secret Sauce to Building a Vibrant Wealth Management Firm
Description
In this illuminating episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Jason Early, CEO of RISR, to discuss how targeting business owners can massively elevate a financial advisor's practice.
The discussion covers why treating a privately held business as just another asset is a missed opportunity, and how business owners, who control a significant portion of private wealth, are an untapped client segment.
Learn how RISR's technology helps advisors understand and manage the complexities of business owner clients, moving beyond typical financial advice to drive substantial assets under management and deliver significant value. Don't miss the actionable insights on succession planning, risk management, and leveraging the unique needs of business owners to grow your advisory business.
Chapters:
00:00 Introduction to Financial Advisors and Business Assets
00:34 Welcome to the Modern Financial Advisor Podcast
00:38 Introducing Jason Early and RISR
02:24 Myth Busting: Business Owners and Wealth
04:25 The Complexity of Business Owners' Financial Needs
05:21 The Evolution of Financial Planning
06:34 The Importance of Comprehensive Financial Advice
07:54 Connecting with Business Owners
10:35 The Role of Financial Advisors in Business Succession Planning
13:00 Understanding the Business Owner's Perspective
16:26 The Riches in Niches Strategy
24:07 The Confidence and Competence Gap
28:49 Blue Oceans vs. Red Oceans
29:30 The Importance of Tools for Business Advisors
29:55 How RISR Works for Advisors
30:58 Financial and Qualitative Insights for Business Owners
33:02 The Growing Trend of Private Company Ownership
38:51 Advisors' Role in Business Succession and Exit Planning
47:19 The Complexity and Opportunity of Working with Business Owners
51:04 The Rise of Solopreneurs
53:56 Conclusion and Final Thoughts
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