How VRGL Is Turning Prospecting Into a Scalable Growth Engine for Financial Advisors

Featuring Kyle Zasky, CEO of VRGL, on the Modern Financial Advisor Podcast with Mike Langford

Client acquisition is one of the biggest challenges facing financial advisors today — not because there’s a shortage of prospective clients, but because there’s often a gap between interest and trust. In this episode of the Modern Financial Advisor Podcast, Mike Langford is joined by Kyle Zasky, the newly appointed CEO of VRGL, to explore how advisors can use data, design, and digital empathy to turn prospects into clients faster and more confidently.

This episode is a must-listen if you’re looking to boost your organic growth without adding more friction to your already full plate.

🎧 Listen to the episode or watch the full video below.

Why Prospecting Is Broken — And How VRGL Is Fixing It

The traditional approach to financial advisor growth has long depended on referrals, word-of-mouth, and face-to-face meetings. But in today’s hyper-digital and post-pandemic environment, that model doesn’t scale. Most advisors have full calendars servicing existing clients — which leaves little time for prospecting.

Kyle Zasky, who stepped into the CEO role at VRGL just weeks before this recording, breaks down the real issue: while most advisors know they need to grow, they don’t always have the tools or processes to engage prospects meaningfully before they sign on the dotted line.

“We’re in the business of arming advisors with data and analytics about the prospect,” says Zasky. “So when they sit across the table from a lead, they’re not pitching — they’re educating.”

VRGL’s platform helps advisors quickly ingest unstructured portfolio data — even from PDFs and statements — and create personalized, white-labeled proposals that highlight risk exposures, fee inefficiencies, and opportunities for improvement. It’s a compelling way to build trust and demonstrate value before the client relationship officially begins.

🎙️ Related Episodes You Might Enjoy

One of the goals of the Modern Financial Advisor Podcast is to connect the dots between strategic conversations — and this episode with Kyle Zasky aligns perfectly with several others that explore technology, client acquisition, and the evolving role of the advisor.

If this conversation resonated with you, here are a few other episodes worth checking out:

• How Financial Advisors Can Help Clients Understand What Is Actually Happening In Their Portfolios — Justin Whitehead, Co-Founder of Pebble Finance, explores how AI-powered storytelling and data translation can help advisors strengthen client relationships and close new business with clarity and confidence.

• Exploring the End‑to‑End Digital Transformation of Wealth Management — Gauthier Vincent, Wealth Management Consulting Leader at Deloitte, breaks down how AI, data integration, and client experience are changing across every part of the advisory business — from first touch to full service.

• Solving the Biggest Tech Problem in Wealth Management by Creating True Ownership of Your Firm’s Data — Jud Mackrill of Milemarker outlines why centralized, accessible data infrastructure is critical to performance, scale, and winning new clients — much like VRGL’s proposal platform.

• The Evolving Role of a Financial Advisor in an AI‑Driven World — Dr. Emily Koochel from eMoney shares how advisors can blend data, AI, and human empathy to meet the expectations of today’s clients and prospects.

AI Isn’t the Threat — Inaction Is

Zasky also addresses a growing pain point for many financial advisors: AI-induced anxiety. Advisors are bombarded with new tools, and many feel like they’re falling behind if they’re not using the latest tech.

But here’s the truth: You don’t need to master AI. You need vendors who have and can deliver practical, easy-to-use solutions.

That’s where VRGL shines. The platform’s goal isn’t to dazzle you with complex algorithms — it’s to help you deliver smarter, faster, more confident conversations with prospects. So you can grow without feeling overwhelmed.

One Final Takeaway: Think Like a Financial Therapist

One of the most powerful moments in this episode is when Kyle draws a parallel between financial advisors and physicians.

Just like doctors use bloodwork and diagnostics to inform their advice, advisors should use portfolio analytics to diagnose client pain points. But that’s only part of the equation. The real differentiator is how well you understand your clients as people — their goals, fears, and financial behaviors.

“It’s not just about performance or fees,” Zasky says. “It’s about helping people feel seen, heard, and confident.”

That’s what today’s prospecting efforts must deliver. And that’s why tools like VRGL are fast becoming essential to modern advisory practices.

Ready to Close More Business With Less Friction?

If you’re looking to turn more leads into loyal clients — and deliver value from the first meeting — VRGL is worth a serious look.

📍Learn more about VRGL at www.vrglwealth.com

🔗 Connect with Kyle Zasky on LinkedIn

And don’t forget to subscribe to the Modern Financial Advisor Podcast for more insights from the leaders shaping the future of wealth management.

Redefining Growth for Advisors: Dan Zitting on Frictionless Tech, Sales Skills, and Client Confidence

What does it take to grow a modern financial advisory business in a world where referrals are no longer enough?

In this episode of The Modern Financial Advisor Podcast, Mike Langford is joined by Dan Zitting, CEO of Nitrogen Wealth, to explore the tools, strategies, and mindset shifts that today’s financial advisors need to succeed. From frictionless onboarding and personalized risk assessments to reviving the lost art of selling, Dan shares how Nitrogen is evolving to meet the real-world challenges advisors face every day.

Dan also opens up about what it’s like to take the reins of a legendary FinTech brand—formerly Riskalyze—and why the company’s rebrand was about more than a new name. It’s about refocusing on the advisor’s journey and the investor’s confidence.

What You’ll Learn in This Episode

• Why Friction Is the Enemy of Advisor Growth

  Dan explains how removing tedious data entry, manual workflows, and outdated interfaces is essential if advisors want to spend more time with clients—and less time wrestling with technology.

• The Power of Net Promoter Score (NPS)

  Nitrogen puts its NPS front and center, and for good reason. Dan breaks down how measuring client satisfaction is more than a vanity metric—it’s a leading indicator of trust and growth.

• Risk Isn’t About Age—It’s About Psychology

  Just because someone is 30 doesn’t mean they’re aggressive. And just because they’re 70 doesn’t mean they’re conservative. Dan makes the case for deeper, individualized risk insights that advisors can act on.

• Why Referrals Aren’t Enough Anymore

  Referrals used to be the engine of growth, but in a digital-first world, prospects need more proof before they engage. That’s a theme we’ve explored in other recent episodes:

  • Beatriz Acevedo of SUMA Wealth on expanding your reach by engaging the next generation.

  • Greg Bogich of AcquireUp on rebuilding your sales muscle through intentional prospecting.

  • Felipe Toews on why honest conversations about risk and loss are the foundation of strong advisor-client relationships.

• How AI Will Reinvent Advisor Workflows

  Dan shares a vision for AI as a co-pilot—automating meeting prep, surfacing portfolio insights, and creating client-ready reports without the advisor having to lift a finger.

🎉 Join Dan and the Nitrogen Team at the Fearless Investing Summit

Looking for more advisor growth strategies, tech insights, and high-energy inspiration? Be sure to check out the upcoming Fearless Investing Summit hosted by Nitrogen. It’s one of the most highly-rated events in the industry—and a great place to connect with forward-thinking advisors and FinTech leaders.

Final Takeaway

As Dan put it best: “Advisors want to spend less time in software—not more.” The future of advisor technology is all about simplicity, automation, and empowering confidence—both for the advisor and their clients. Whether you’re a solo advisor or leading a fast-growing RIA, this episode is a must-listen.

How Financial Advisors Can Help Clients Understand What is Actually Happening in Their Portfolios

“We’re not just translating numbers. We’re giving advisors the language to deliver real, human conversations at scale.” – Justin Whitehead, CEO of Pebble Finance

In this episode of the Modern Financial Advisor Podcast, Mike Langford welcomes Justin Whitehead, Co-Founder and CEO of Pebble Finance, to explore how AI is fundamentally transforming client communication in wealth management.

Forget the hype. While many firms are still slapping “AI-powered” labels onto basic automation tools, Pebble is quietly redefining one of the most important—and often overlooked—aspects of the advisor-client relationship: communication.

Justin’s story begins with a moment every investor can relate to: a well-intentioned but poorly informed decision to diversify into Chinese markets… followed by silence from his advisor and a sharp market downturn. That experience, and his background in building portfolio analytics tools at FactSet, sparked a question that now sits at the heart of Pebble:

Why is it still so hard for advisors to clearly explain what’s happening in a client’s portfolio?

Why Portfolio Conversations Are Broken (And How Pebble Fixes Them)

Modern portfolios are complex. Clients are overwhelmed by jargon. Advisors are stretched thin. And yet, the expectation for personalization and clarity has never been higher—especially among younger, self-directed investors who grew up with Robinhood, Reddit, and real-time market commentary.

Pebble Finance solves this by combining deep portfolio math with AI-powered content generation to create real-world narratives that advisors can use immediately.

Think:

✅ Contextual explanations for market shifts

✅ Client-ready commentary in plain English

✅ Custom newsletters at scale

✅ All without touching PII or raising red flags with compliance

As Justin puts it:

“We’re enabling advisors to speak their clients’ language—quickly, accurately, and at scale—without having to sacrifice compliance or credibility.”

What This Means for Financial Advisors

For financial advisors, Pebble isn’t just another dashboard. It’s a conversation engine.

Imagine being able to instantly generate timely, portfolio-specific commentary that references what your client read in the Wall Street Journal yesterday or what they just asked you about over email. Or sending a personalized newsletter that highlights what’s driving returns in their portfolio—without spending hours researching or writing.

Now you can.

More touchpoints. Better conversations. Lower churn. That’s the promise of Pebble—and it’s one that couldn’t be more timely as advisory firms face increasing pressure to scale personalization without adding headcount.

Related Episodes You Might Enjoy

🎧 Behavioral Portfolio Management with Felipe Toews

In this episode, Felipe Toews, CEO of Toews Asset Management, explores how honest communication and scenario planning can deepen client trust. A perfect companion to today’s conversation on AI and behavioral finance.

➡️ Listen & Read the Episode Recap

🎧 Arnim Holzer on Macro Risk and Client Conversations

Another great episode for advisors who want to make market risk relevant and understandable for clients. Learn how to frame global macro events in ways that actually resonate.

➡️ Browse All Episodes

Want to Stay Relevant in the AI Era of Wealth Management?

If you’re an executive at a wealth management firm or a FinTech provider looking to empower advisors with scalable, high-quality client communication—Pebble deserves a look. This is the type of innovation that will define the next generation of advisory excellence.

Why Serving Business Owners is the Secret Sauce to Building a Vibrant Wealth Management Firm

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.

Sponsored By:

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If you would like to follow up with Jason, shoot him an email.

In the world of financial advisory, standing out requires more than just competence—it demands excellence in understanding client needs and leveraging untapped markets. One such market, as highlighted by Mike Langford and Jason Early in this episode of the Modern Financial Advisor Podcast, is the business owner segment. With 66% of millionaires being business owners and 88% of those worth $30 million or more, the rationale for advisors to target this demographic becomes clear.

Understanding the Unique Needs of Business Owners

Financial advisors often treat privately held businesses like any other asset on a balance sheet. However, this approach is inadequate given the complexity and significance of such businesses in an owner's financial portfolio. As Jason Early explains, understanding these businesses deeply is critical—not just in terms of their financials, but also their operational risks, succession plans, and the personal priorities of their owners.

The Rise of Business Owners as Ideal Clients

Business owners bring complexity, but also opportunity. They offer a wider range of financial needs that advisors can address—such as business succession planning, risk management, and retirement strategies for both the owner and their employees. This complexity translates to potential for advisors, as solving larger and more complex problems can lead to increased revenues without necessarily resorting to expanding the client base dramatically.

Strategies for Engaging Business Owners

Effective engagement with business owners requires both strategic planning and the right tools. Advisors should aim to deeply understand the industries their clients operate in. This is where platforms like RISR come into play, providing insights into business valuations, wealth management strategies, and risk assessments tailored specifically to privately held businesses.

Early advises financial professionals to hone in on 'riches in niches', focusing deeply on one or two industries. This specialized knowledge allows advisors to present themselves as more than just financial planners—they become strategic partners for business owners who are navigating the complexities of growth, management, and eventual exit strategies.

Building Trust and Relationships

Trust is paramount when dealing with business owners, notoriously hard to pin down due to their packed schedules and heavy responsibilities. Part of the challenge—and opportunity—lies in advisors building trust not only with the business owner but also with related stakeholders such as key employees and family members involved in the business.

Moreover, working with business owners offers the opportunity to forge long-lasting relationships across generations, as many businesses involve family members either as future leaders or stakeholders.

Conclusion

Engaging with business owners can seem daunting due to the complexities involved, but the potential rewards are significant. Financial advisors must position themselves not only as financial stewards but as comprehensive advisors capable of supporting business owners through every stage of their journey. Equipped with the right tools and approach, such as those offered by RISR, advisors can unlock substantial growth while ensuring they meet the holistic needs of their affluent clients.

By focusing on the unique needs of business owners, advisors are not only opening new avenues for their own business growth but are also playing a crucial role in supporting the economic backbone of communities—small and medium business enterprises. The message is clear: go beyond the balance sheet, understand the wealth-driving forces of a business, and watch your advisory business soar.

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

Why a Financial Advisor’s CRM Choice May Be Much More Important Than Which Broker-Dealer They Choose

In this episode of the Modern Financial Advisor Podcast, host Mike Langford is joined by Adrian Johnstone, CEO of Practifi, to discuss the pivotal role of CRM systems in financial advisory firms.

They explore the debate between the importance of custodial systems versus CRMs, emphasizing the value of maintaining rich client relationships. The discussion also covers the concept of viewing technology as an investment rather than an expense, the scalability of CRM systems, and the potential future of AI in the industry.

Perfect for advisors looking to gain insights on leveraging technology to enhance their client relationships and operational efficiency.

Sponsored By:

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If you would like to follow up with Adrian, shoot him an email.

Mike Langford sat down with Adrian Johnstone, CEO of Practifi, to delve into pivotal topics surrounding client relationships, the role of technology in financial advisory, and the future of the industry. This discussion offers invaluable insights for advisors seeking to adapt and thrive in an ever-evolving landscape.

Understanding the Core of Client Relationships

Johnstone eloquently touched upon the age-old debate of whether the CRM or portfolio management system serves as the core of a financial firm. Both Mike and Adrian agreed that while the financial asset record holds undeniable importance, it is the record of the client relationship that truly drives business value and compliance. As Johnstone stated, the CRM should be treated with the same sanctity as custodial platforms because the heart of a successful advisory business is the strength of its client relationships.

Technology: An Investment, Not an Expense

Adrian made a compelling case for viewing technology not just as an operational expense but as a strategic investment. He highlighted that technology, when considered an investment, prompts advisors to explore its full potential and harness its capabilities to drive business growth. Unlike the static nature of human knowledge, technology evolves rapidly, offering continuous enhancements and efficiencies. By aligning technological investments with long-term business goals, advisors can ensure sustainable growth and scalability.

The Future is Scalable

A notable vision shared during the conversation was Practifi’s goal of being the last CRM an advisor would ever need. By leveraging scalable infrastructure and robust data models, Practifi aims to cater to solo advisors as well as large multi-billion AUM firms. This scalability not only facilitates business growth but also ensures smoother succession planning and transitions, making technology an indispensable ally for future-proofing an advisory business.

Human Connection in a Tech-driven World

Despite the rapid technological advances, Johnstone reinforced the enduring importance of human connections in advisory relationships. No matter how sophisticated technology becomes, the essence of trust, understanding, and personal interaction remains irreplaceable. Technology's role should primarily focus on removing operational friction, thus allowing advisors to focus more on nurturing client relationships.

A Call for Integration and Cooperation

The conversation concluded with a thought-provoking wish: a standardized integration language across all financial technology platforms. Such a development would enhance portability and interoperability, allowing advisors to seamlessly integrate various technology solutions and ultimately deliver better client outcomes.

Conclusion

Adrian Johnstone’s insights offer a roadmap for advisors navigating the complexities of modern financial services. By embracing technology as a growth partner and maintaining the core human aspects of advisory services, firms can position themselves for success in an ever-evolving market. As the industry continues to change, staying informed and adaptable remains crucial for advisors aiming to lead and not just keep pace.

Chapters

00:00 The Debate: Custodial System vs. CRM

00:44 Introduction to the Podcast and Guest

01:53 The Importance of Client Relationships

04:24 The Role of CRM in Client Records

17:15 Technology Adoption in Financial Advisory

25:37 The Value of Technology in Financial Services

26:18 Technology as an Investment, Not an Expense

27:06 Maximizing Technology's Potential

32:14 The Future of Technology in Financial Advisory

34:23 Human Connection in the Age of Technology

40:41 Scalability and Integration in Financial Technology

51:44 The Importance of Standardized Integration

54:04 Conclusion and Final Thoughts

How Behavioral Portfolio Management and Honest Communication Can Transform Client Relationships

In this episode of the Modern Financial Advisor Podcast, host Mike Langford engages in a thought-provoking conversation with Felipe Toews, CEO of Toews Asset Management and author of 'The Behavioral Portfolio: Managing Portfolios and Investor Behavior in a Complex Economy.'

Delve into the intricacies of behavioral finance, market timing challenges, and the crucial role of effective advisor-client communication. Discover why Felipe believes that traditional portfolio management strategies might be leading advisors and clients astray, especially when considering unexpected market scenarios and significant losses. This episode offers valuable perspectives on educating investors and rethinking portfolio construction to better navigate a complex economic landscape. Don't miss this insightful discussion that could transform how you communicate with your clients and approach portfolio management.

Sponsored By:

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If you would like to follow up with Felipe, shoot him an email.

Mike Langford sat down with Felipe Toews, CEO of Toews Asset Management, to explore the complexities of behavioral finance. This captivating conversation delved into market timing challenges, effective communication between advisors and clients, and the upcoming transformation in our understanding of investment strategies.

The Misconception of Bounded Economies

Toews starts the discussion by challenging the common perception of economies as bounded systems. He compares them instead to natural ecosystems, which lack limits and can swing to extremes. Such perspective shifts require us to question our assumptions about economic recovery and market rebounds. Toews emphasizes that these assumptions, particularly the belief that markets always bounce back, may not necessarily hold true over time.

Understanding Behavioral Finance

Behavioral finance is a crucial framework that highlights how investors often make emotionally driven, poor financial decisions. Toews reinforces the notion that many advisors, despite their extensive knowledge and experience, might not effectively prevent clients from making these detrimental decisions. The focus should be on developing strategies to address these behavioral challenges.

Building Communication Constructs

The podcast emphasizes the importance of proactive communication strategies. Toews likens the investing world without proper guidance to driving without road rules—it’s chaotic and terrifying. Advisors are urged to educate their clients about market history, portfolio designs, and actionable plans. This preparation aims to establish ‘rules of the road’ for financial decision-making, helping clients react appropriately during market extremes.

Addressing Investment Strategies

Felipe Toews suggests that the current portfolio construction is a historical accident and proposes a shift towards behavioral portfolios. These would include strategies to mitigate significant market risks, such as large downturns or persistent inflation, while also promoting growth.

Toews strongly advocates for the necessity of adaptive strategies. Whether through hedging equities or adapting fixed income approaches, creating a diversified and resilient portfolio is key. The goal is to protect against various economic downturn scenarios while maintaining the potential for substantial returns.

The Debate on Traditional Portfolio Models

Langford and Toews address the growing criticism of the traditional 60/40 portfolio model. The financial advisory industry is seeing a shift away from this outdated paradigm, recognizing that today’s economic realities demand more innovative approaches. With increasing market complexities and evolving financial products, advisors are encouraged to reconsider how they diversify portfolios and manage risks.

Preparing for Future Challenges

This episode also highlights potential economic risks on the horizon, from sovereign debt issues to demographic changes impacting GDP growth. Toews warns that current economic vulnerabilities require advisors to prepare for unconventional scenarios, including possible currency crises. However, he stresses the importance of remaining optimistic and positioning portfolios to cope with these uncertainties.

Conclusion: Challenging Advisors to Evolve

Felipe Toews challenges advisors to rethink their investment strategies, emphasizing the need for informed, proactive approaches to behavioral finance. By integrating these insights, financial advisors can provide greater value to their clients, ensuring they are not only financially secure but also prepared for the future's uncertainties.

Whether you are a financial professional or a novice investor, understanding these concepts is critical. As Toews concludes, the challenge is not just about managing wealth; it's about transforming how we think about investing for both immediate and long-term stability.

Listeners and readers interested in diving deeper into these concepts can explore Toews' new book, "The Behavioral Portfolio: Managing Portfolios and Investor Behavior in a Complex Economy." As investments and economies grow more complex, staying informed and adaptable is more important than ever.

Chapters

00:00 Introduction to Economic Perceptions

00:45 Welcome to the Modern Financial Advisor Podcast

00:50 Introducing Felipe Toews and His New Book

02:12 Personal Anecdotes and Light Banter

03:22 Diving into Behavioral Finance

03:50 The Importance of Client Communication

04:33 Challenges in Market Timing and Decision Making

08:37 Historical Market Events and Their Implications

14:40 Proactive Behavioral Communication Strategies

21:13 Portfolio Design and Historical Worst-Case Scenarios

27:44 Economic Growth and Inflation Challenges

29:25 Behavioral Portfolio Design

31:40 Critique of Traditional Investment Strategies

33:39 Adapting to Market Changes

36:22 Addressing Investor Behavior

44:12 Crypto and Speculative Investments

49:29 Future Economic Risks and Portfolio Strategies

55:44 Conclusion and Final Thoughts

Unlocking Growth for Financial Advisors: The Power of Seminars

Join host Mike Langford in this episode of the Modern Financial Advisor Podcast as he interviews Greg Bogich, CEO of AcquireUp. Discover how seminars can be an effective strategy for growing a financial advisory business. Greg discusses the benefits of seminars, including filling the room with qualified prospects, the psychological advantages of face-to-face interactions, and the importance of being perceived as an expert.

Learn how AcquireUp helps financial advisors target the right audience and provides coaching to deliver compelling seminars. Whether you're a solo advisor or part of a larger RIA, this episode offers valuable insights into achieving scalable growth and converting prospects into long-term clients.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

If you would like to follow up with Greg, shoot him an email.

In the competitive landscape of financial advisory, many professionals are searching for effective ways to grow their business. While digital marketing and cold calling have their places, there's a traditional method that's proving to be resilient and impactful: seminars. Greg Bogich, CEO of AcquireUp, recently shared insights on the Modern Financial Advisor Podcast about how seminars are making a comeback, offering a unique blend of personal connection and business growth.

Why Seminars Work

Seminars offer financial advisors the chance to connect with prospective clients in a way that digital interactions cannot replicate. As Greg Bogich points out, having 20 to 25 households in a room allows an advisor to make multiple connections in one setting. This approach not only saves time but also increases the likelihood of establishing genuine relationships.

The success of a seminar lies in its ability to position the advisor as an expert. In a room full of motivated prospects, the advisor assumes the role of the authority figure, adding credibility and establishing trust. Moreover, the psychological principle of reciprocation often leads prospects to feel more compelled to engage further with the advisor.

Setting the Right Tone

Contrary to the common perception, not all seminars need to be held in a restaurant over dinner. Many successful events occur at libraries or community centers, which set a more educational tone. As Greg explains, it's important for advisors to select venues that align with their objectives—whether they wish to appear more academic or prefer a traditional sales setting.

The Importance of Qualified Prospects

One of the pitfalls that some advisors fall into is filling a room with just anybody rather than targeted prospects. AcquireUp’s approach focuses on ensuring the right people are in the room. They use data-driven strategies to attract prospects based on asset level, demographics, and proximity to the venue.

Navigating the Seminar Experience

For many advisors, the idea of presenting a seminar can be daunting. Despite the challenge, Greg emphasizes that one doesn't need to be Steve Jobs or Oprah Winfrey to be effective. The key is mastering the content and being genuine. AcquireUp helps clients by providing resources such as video libraries of effective presentations and coaching on how to engage audiences.

The Business Impact

Seminars are not just about immediate gains; they’re a strategic investment in long-term business growth. A well-run seminar can lead to new client relationships that last for years, providing a substantial return on investment. For advisors, it’s all about understanding that while not every attendee will convert immediately, over time, the numbers work in favor of the advisor who uses seminars consistently and strategically.

A Call to Action for Growth-minded Advisors

For those advisors who are growth-oriented, embracing seminar marketing can be a game-changer. The seminar model thrives on the law of large numbers, creating a steady funnel of new prospects while building personal connections that digital ads often miss.

The Future of Financial Advisory Growth

In summary, seminars present an opportunity to blend modern marketing insights with tried-and-true methods of client acquisition. Greg Bogich’s insights reinforce that in the world of financial advisory, seminars are not just a relic of the past but a powerful tool for the future. As the industry continues to evolve, advisors who leverage seminars will likely find themselves leading the pack in client engagement and business growth.

Chapters

00:00 The Challenge of Cold Calling in Sales

00:41 Introduction to the Modern Financial Advisor Podcast

01:59 Guest Introduction: Greg Bogich from AcquireUp

03:36 The Problem of Slow Growth in Wealth Management

05:00 The Struggles of New Financial Advisors

07:40 The Importance of Referrals and Their Limitations

11:08 The Effectiveness of Seminars for Financial Advisors

16:51 Targeting the Right Audience for Seminars

22:03 Educating Advisors on Effective Marketing

24:27 Understanding Seminar Attendance and Conversion Rates

26:11 The Importance of Re-engaging Non-Attendees

28:59 Effective Seminar Presentation Techniques

29:55 Training Advisors for Successful Seminars

37:39 The Value of Investing in Marketing

45:46 The Unique Appeal of the Financial Advisory Industry

47:56 Conclusion and Final Thoughts

Is It Time for Financial Advisors to Rethink Their Assumptions About Asset Allocation Models?

In this episode of the Modern Financial Advisor Podcast, host Mike Langford is joined by Arnim Holzer, Global Macro Strategist at Easterly EAB, for an insightful discussion on market volatility and the need to rethink traditional asset allocation models. They explore the historical context of Modern Portfolio Theory, its simplifications, and why its assumptions may not hold in today's economic environment.

The conversation delves into the instability of asset correlations during periods of volatility, the impact of macroeconomic conditions, and the importance of incorporating volatility-sensitive strategies into portfolios. Advisors can benefit from practical advice on how to use high Sortino ratio funds and strategies to manage downside risks and enhance client portfolio resilience.

The episode also touches upon the relevance of active versus passive management, the implications of the global pandemic on markets, and the importance of client perception of portfolio performance.

Sponsored By:

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If you would like to follow up with Arnim, shoot him an email.

Episode Summary

In the latest episode of the Modern Financial Advisor Podcast, we dive into the intricacies of market volatility with Arnim Holzer, Global Macro Strategist at Easterly EAB. This conversation couldn't be more timely, as many of the asset allocation fundamentals that financial advisors have held onto for generations may need reevaluation given current macroeconomic conditions.

The Evolving Landscape of Asset Allocation

Arnim shared insights starting with the history of modern portfolio theory (MPT), introduced by Markowitz in the 1950s. While revolutionary, MPT’s simplifications have led to certain assumptions that may not hold true in today's dynamic market. One such assumption is the stability of correlations between asset classes and returns over time. According to Arnim, these can be notably unstable when volatility spikes, posing risks that the original models did not account for.

Correlation and Volatility: The Hidden Risks

As Arnim explained, a huge risk in many portfolio models is their reliance on underestimated correlations, particularly between equity and fixed income. During periods of high market volatility, these correlations can unexpectedly increase, leading to synchronized downturns in supposedly diverse asset allocations. Arnim argues for a more nuanced understanding of asset behavior, especially under stress.

The Fee Focus and Passive Management Debate

Throughout the episode, Arnim emphasized the industry’s past fixation on managing fees, and the movement towards passive investment strategies. He raised concerns about how this shift, paired with an underappreciation of risk management, has affected overall portfolio resilience. While passive management has greatly reduced costs, it may inadvertently increase systemic risk by underestimating the need for active management in unpredictable markets.

Building Resilient Portfolios

For advisors, the key takeaway is the importance of incorporating strategies that mitigate these risks. Arnim suggests focusing on products that account for volatility spikes by breaking traditional correlation assumptions. He advocates for integrating funds that exhibit high Sortino ratios and offer disproportionate downside protection, enhancing clients' resilience in volatile times.

Practical Insights for Financial Advisors

Arnim provided valuable guidance on practical steps advisors can take to future-proof client portfolios. This includes considering funds that overlay options to protect against market downturns, and ensuring a balanced approach that still captures upside potential. He advises using tools to identify funds with strong upside-downside capture ratios, ensuring that even amidst volatility, a client's portfolio can withstand and thrive.

Final Thoughts

As markets continue to evolve with unexpected economic shifts, the conversation with Arnim Holzer reveals crucial insights for financial advisors. By embracing a strategic focus on volatility management, and rethinking traditional asset allocation models, advisors can better navigate the complexities of today's financial landscape.

For those interested in delving deeper into these strategies, Arnim’s expertise and resources through Easterly EAB provide guiding principles for adapting to these modern challenges.

Resources Mentioned In This Episode:

• What If Financial Advisors Have Been Using the Wrong Methodology for Retirement Planning? - Steve Vecchione and Scott Schuebel of Statera Advisors were guests on the previous episode of the Modern Financial Advisor Podcast and they are taking a slightly different approach than Arnim’s to accomplish a similar goal for their clients. Their motivation however, is very similar… to protect their clients from market downside.

• Dr. Zvi Bodie - Mike mentioned the the teachings and wisdom of his former Boston University Graduate School of Management professor . Dr. Bodie also the author of “Investments” which is the standard textbook used in business schools around the world.

Chapters

00:00 Introduction and Episode Overview

01:10 Guest Introduction: Arnim Holzer

01:24 Casual Conversation: Weekend Plans

02:21 Diving into Market Volatility

03:01 Challenging Traditional Asset Allocation Models

05:22 Flaws in Modern Portfolio Theory

06:27 Correlation and Volatility in Asset Allocation

16:06 Impact of Fed Policy on Market Correlations

24:00 Impact of the Pandemic on Inflation

24:55 Housing Market Dynamics During the Pandemic

26:13 The Fed's Response and Fixed Income Challenges

27:00 Volatility and Portfolio Management

28:36 Advisors' Role in Managing Volatility

31:25 Optimizing Portfolios with High Sortino Ratios

36:46 The Importance of Risk Management

42:40 Connecting with Arnim Holzer

44:20 Conclusion and Farewell

What If Financial Advisors Have Been Using the Wrong Methodology for Retirement Planning?

In this episode of the Modern Financial Advisor Podcast, Steve Vecchione and Scott Schuebel of Statera Advisors and Statera Retirement join Mike Langford to share their innovative approach to retirement planning.

After watching or listening to this conversation, it might be hard for financial advisors not to wonder “Have I been using the wrong methodology for retirement planning all these years?”

Sponsored By:

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If you would like to follow up with Steve, shoot him an email.

Episode Summary

In the world of financial advising, innovation and bold ideas often challenge conventional practices. The latest episode of the Modern Financial Advisor Podcast brings such a conversation to the forefront, featuring Steve Vecchione and Scott Schuebel from Statera Advisors and Statera Retirement. Hosted by Mike Langford, the episode delves into groundbreaking strategies that address the complexities of retirement planning.

A Fresh Approach to Retirement Risks

Steve Vecchione and Scott Schuebel join Mike Langford to explore their unique methodologies in managing retirement risks, which differ significantly from traditional approaches. One of the core elements of their strategy involves addressing three primary risks: longevity, inflation, and sequence of return. By focusing on these risks individually rather than relying solely on portfolio performance, Statera Advisors aim to provide clients with a more secure financial future.

Purpose-Driven Dollars

A noteworthy aspect of their approach involves assigning each dollar a specific purpose. This means that clients' assets are strategically allocated to address particular risks, such as ensuring significant cash reserves to weather market downturns. This method not only enhances financial security but also reduces the emotional stress commonly associated with market volatility.

The Importance of Internal Rate of Return

In stark contrast to the common focus on time-weighted returns, Vecchione and Schuebel emphasize the significance of internal rate of return (IRR) in retirement planning. They argue that since retirees draw from their portfolios, the IRR offers a more accurate reflection of the return clients actually experience. Understanding this distinction is crucial for both advisors and clients to avoid misleading projections based solely on time-weighted averages.

Breaking New Ground: A Balanced Legacy

Statera, meaning 'balance' in Latin, encapsulates the firm’s ethos perfectly. Their approach not only manages risks during the retirement phase but also focuses on maximizing the legacy clients can leave behind. By finding the optimal balance in asset positioning, Statera Advisors help ensure their clients' portfolios are robust enough to withstand economic downturns while remaining aggressive enough to generate substantial returns.

Get in Touch with Statera Advisors

For those interested in learning more about these innovative retirement strategies, Statera Advisors can be reached via their website, Statera-Advisors.com, where more detailed insights and explainer videos are available. Additionally, their second website, StateraRetirement.com, provides further resources and contact information.

Conclusion: Sharing Knowledge and Enhancing the Industry

As the podcast concludes, Mike Langford emphasizes the importance of sharing successful strategies with the broader financial community. With over 70% of Americans still without a financial advisor, the opportunity for growth and improvement across the industry is tremendous. By sharing these insights and methodologies, financial advisors can elevate their practices and better serve their clients' needs.

Resources Mentioned In This Episode:

• eMoney Advisor - Steve and Scott are long time users and advocates of eMoney. During this episode Steve and Mike have a bit of fun with a plea to get eMoney to sponsor the Modern Financial Advisor Podcast. Mike also mentions a recent episode of the show in which Dr. Emily Koochel, Manager of Financial Wellness at eMoney was a featured guest.

• Dr. Zvi Bodie - Mike mentioned the the teachings and wisdom of his former Boston University Graduate School of Management professor . Dr. Bodie also the author of “Investments” which is the standard textbook used in business schools around the world.

• Fispoke - Mike mentioned that new companies like Fispoke are making it possible for RIAs and independent financial advisors to provide banking solutions to their clients. Terry Mullen, Fispoke’s Chief Revenue Officer was on the previous episode of the podcast.

• SkyView1 - Mike also mentioned that SkyView Partners has also launched a banking solutions for advisors.

Chapters

00:00 Introduction and Episode Overview

01:19 Meet the Guests: Steve Vecchione and Scott Schuebel

02:03 The Origin Story: How Steve and Scott Joined Forces

02:55 Challenging Conventional Retirement Planning

04:42 Developing a New Retirement Strategy

12:48 Addressing Retirement Risks

18:24 The Importance of Internal Rate of Return

26:14 Understanding Internal Rate of Return (IRR)

26:41 Time-Weighted Rate of Return (TWR) Explained

27:26 Comparing TWR and IRR in Portfolio Management

28:56 Impact of Market Conditions on Returns

30:20 Strategies for Retirement Planning

40:37 Purpose-Driven Dollar Concept

46:06 Balancing Risks for Optimal Returns

49:30 Conclusion and Final Thoughts

Why RIAs and Independent Financial Advisors Who Add Banking Services are Poised for Rapid Growth

In this episode of the Modern Financial Advisor Podcast, host Mike Langford chats with Terry Mullen, Chief Revenue Officer of Fispoke, about how financial advisors can now offer comprehensive banking services to their clients.

Once exclusive to wirehouse advisors, these services are now accessible to RIAs and independent financial advisors, thanks to new technology and banking arrangements. Mike and Terry discuss the evolution of financial advice, the immense market potential, and the transformative power of integrating banking solutions for financial advisory businesses.

Learn about how Fispoke is bridging this gap, the opportunities for growth, and the future of comprehensive financial planning. Don't miss out on this insightful conversation that could change the way you offer financial advice!

Sponsored By:

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If you would like to follow up with Terry, shoot him an email.

Episode Summary

As the financial industry continues to evolve rapidly, staying ahead of the curve is essential for maintaining a competitive edge. In the latest episode of the Modern Financial Advisor Podcast, host Mike Langford delves into an exciting development that could revolutionize the services offered by independent financial advisors and registered investment advisors (RIAs). Joined by Terry Mullen, Chief Revenue Officer of Fispoke, they explore how comprehensive banking solutions are making their way into this space and what it means for the future of financial advisory services.

Introduction

In a powerful conversation, Mike Langford and Terry Mullen discuss the next wave of services that financial advisors will offer: comprehensive banking advice and management of banking products. Traditionally, these services were the exclusive domain of wirehouse advisors. However, with technological advancements and innovative companies like Fispoke, independent financial advisors can now integrate banking solutions into their offerings.

The Evolution of Financial Advisory Services

Terry Mullen, an industry veteran, returns to the podcast, reflecting on his journey and the transformative role new technologies are playing in financial advisory. From his early days with Truelytics to his current role at Fispoke, Mullen underscores the shift in advisor roles from merely managing assets to offering all-encompassing financial planning, including banking services.

Identifying the Problem and Market Opportunity

The conversation identifies a significant gap in the market: most independent advisors lack access to integrated banking products. Mullen explains that many clients assume their financial advisors can easily provide banking services, yet only 7% of advisors have integrated solutions. Fispoke aims to bridge this gap by providing a comprehensive platform for advisors to offer high-yield savings accounts, loans, mortgages, and more.

Fispoke's Integrated Banking Solutions

Fispoke positions itself as a "TAMP for Banking," providing turnkey cash and lending solutions for advisors. The platform connects advisors with banks offering competitive rates, allowing them to integrate these products seamlessly into their advisory services. This integration enables advisors to become fiduciaries for their clients' entire financial picture, enhancing transparency and client service.

Future Prospects and Industry Impact

Fispoke's innovative approach is poised to open up new growth opportunities for financial advisors. By offering integrated banking solutions, advisors can attract new clients, deepen relationships with existing ones, and recapture assets held elsewhere. This development is particularly appealing to advisors considering breaking away from large wirehouses, as it addresses a critical need for comprehensive client service.

Conclusion

As Terry Mullen and Mike Langford wrap up their discussion, they highlight the potential for Fispoke to pave the way for a new breed of advisors focused on banking advice. With the financial landscape continuously evolving, having access to comprehensive banking solutions positions advisors to deliver truly holistic financial planning, setting a new standard for client service in the industry.

In summary, the advent of integrated banking solutions is a game-changer for financial advisors, offering a platform for growth and differentiation. As Fispoke launches and expands its offerings, it promises to provide advisors with the tools they need to better serve their clients and navigate the future of financial services. For financial advisors looking to embrace this new frontier, the opportunity is not only exciting but essential for continued relevance and success in the industry.

Resources Mentioned In This Episode:

• How Financial Advisors Can Help Clients Navigate The Black Box of Healthcare Costs - Mike mentioned the parallels between the work that Drew Schockley and the team at Move Health are doing for financial advisors and their clients on the health insurance landscape. Like banking, every client is going to have health care needs. As a financial advisor, you should be offering sound advice on areas like these that affect your clients’ financial lives in significant ways.

• Episode 1 - The Truelytics Origin Story with Terry Mullen - As Mike mentioned in this episode, Terry Mullen was the first ever guest on the podcast back when it was actually called The Valuations Podcast. Jump in the time machine and give it a listen.

Chapters

00:00 Introduction and Episode Overview

01:26 Guest Introduction: Terry Mullen

01:36 The Evolution of Financial Advisory Services

02:52 The Next Wave: Comprehensive Banking Services

03:38 Identifying the Problem and Market Opportunity

05:28 Fispoke's Integrated Banking Solutions

10:45 Growth Opportunities for Financial Advisors

17:17 Future Prospects and Closing Thoughts

19:09 The Impact of Healthcare on Job Mobility

19:50 Breakaway Advisors and Wirehouse Firms

20:53 Fispoke's Integration with Independent Broker-Dealers

21:45 The Role of Technology in Financial Advisory

23:45 The Future of Banking Advisors

28:48 Fispoke's Banking Partnerships

29:50 Technology Integration with Advisor's Tech Stack

32:55 The Benefits of Smaller Banks

34:09 Conclusion and Contact Information

The Evolving Role of a Financial Advisor in an AI-Driven World

In this episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Dr. Emily Koochel, Manager of Financial Wellness at eMoney Advisor, to explore the critical role of the human advisor in an increasingly AI-powered world.

They discuss how AI can be used as a tool to enhance efficiency, personalize client experiences, and maintain trust, rather than replacing human advisors. With compelling data and practical insights, this episode aims to help financial advisors feel more confident in integrating AI into their practices.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

If you would like to follow up with Emily, shoot her an email.

Episode Summary

As technology continues to advance at a rapid pace, financial advisors find themselves at a crossroads. AI, with its promise of efficiency and data-driven insights, presents both an opportunity and a challenge for those in the financial advisory sector. In a recent episode of the Modern Financial Advisor Podcast, Mike Langford sat down with Dr. Emily Koochel, Manager of Financial Wellness at eMoney Advisor, to explore the human element in financial advice amidst the rise of AI.

The Human Element in Financial Advice

Dr. Emily Koochel emphasizes the importance of maintaining the human connection in financial advisory. As AI becomes more integrated into financial services, there is a concern that the personal touch might be lost. However, Dr. Koochel believes that the relationship-based nature of financial advising can never be fully replicated by technology. Clients choose their advisors based on trust and personal connection, not just the services or products offered.

What Advisors Need to Understand About AI

Dr. Koochel highlights a significant shift in the financial advisory landscape following the introduction of ChatGPT in 2022. Financial advisors began to recognize the potential of AI to enhance, rather than replace, their roles. A survey conducted by eMoney found that 72% of advisors view AI as both an opportunity and something they approach with caution. Advisors acknowledge the potential for AI to improve efficiency, productivity, and client-centric services without diminishing the necessity for human oversight and connection.

Personalization at Scale

One of the promising aspects of AI in financial advisory is its ability to offer personalized services at scale. Traditionally, hyper-personalized services were reserved for high net worth clients due to the resources required. AI tools now allow advisors to offer tailored experiences to a broader client base, enhancing client satisfaction and accessibility without overextending resources.

Building and Maintaining Trust

Trust remains paramount in client-advisor relationships. Dr. Koochel advises financial advisors to not let technology overshadow the personalized touch clients expect and deserve. Trust fuels client satisfaction, loyalty, and encourages referrals. Advisors should work on fostering collaborative engagements with clients to build resilient relationships, ensuring that trust is not easily shaken by market fluctuations or external pressures.

Practical Steps for Integrating AI

For advisors hesitant about integrating AI, Dr. Koochel suggests starting with low-risk, high-impact solutions. Identify manual processes that could benefit from automation to free up valuable time. Familiarize yourself with AI technologies, engage in webinars, and be proactive in learning how these tools can drive growth without disrupting client relationships.

Conclusion

The integration of AI into financial advisory services offers exciting possibilities for efficiency and personalization while maintaining human connections. Dr. Koochel's insights provide a guide for advisors looking to navigate this evolving landscape, ensuring they embrace change without losing the essence of personal financial advising. As advisors explore these tools, the goal is clear— to leverage technology to enhance human-centric services, making high-end personalized advice accessible to a wider audience.

For those eager to dive deeper into this topic, follow Dr. Emily Koochel and eMoney Advisor for more insights and resources on how AI is shaping the future of financial advisories. Whether through podcasts, blogs, or webinars, staying informed and proactive is key to success in this exciting new era.

Resources Mentioned In This Episode:

• The Psychology of Financial Planning - Dr. Emily Koochel was a contributing author to this pioneering book and practitioner resource guide published by the CFP Board.

• eMoney Advisors Resource Center - As Emily mentioned, eMoney publishes a variety of resources for financial advisors.

Chapters

00:00 Introduction and Guest Welcome

00:12 The Human Element in Financial Advice

00:59 Podcast Subscription and Contact Information

01:29 Conversation with Dr. Emily Koochel Begins

01:45 Weekend Plans and Personal Anecdotes

02:23 AI's Impact on Financial Advisory

02:54 Dr. Koochel's Unique Qualifications

05:20 Understanding Financial Therapy

08:54 Financial Socialization and Childhood Influences

11:32 AI in Financial Planning: Opportunities and Concerns

17:25 The Importance of Human Connection

20:16 Generational Perspectives on Financial Advice

23:10 Emotional Conversations in Financial Planning

26:36 Practical AI Integration for Advisors

27:35 Exploring AI Integration in Financial Services

27:57 Identifying and Automating Manual Processes

28:47 Prioritizing High Impact, Low Risk AI Solutions

29:28 Familiarizing with AI Technologies

34:29 Personalization at Scale with AI

41:32 Building and Maintaining Trust in Client Relationships

51:52 Conclusion and Final Thoughts

Why the Timing is Right for Financial Advisors to Embrace Managing Digital Assets for Their Clients

Jake Claver, of Digital Ascension Group joins Mike Langford for an exploration of the growing importance of digital assets in wealth management.

They discuss the concept of 'digital lottery winners'—clients who have gained significant wealth through cryptocurrencies—and the necessity for financial advisors to adapt to this new landscape. Jake also dispels a few common myths that financial advisors may have about who is investing in crypto and digital assets.

The conversation also touches on the risks associated with holding digital assets and the future of regulation in the crypto space. The conversation highlights the opportunities for financial advisors to engage clients in discussions about digital assets, the potential impact of regulation on the market, and predictions for the future of transactions in a digital economy.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

If you would like to follow up with Jake, shoot him an email.

Key Takeaways From This Episode

• Digital assets are becoming a significant part of wealth management.

• Advisors must adapt to the growing presence of crypto in client portfolios.

• Institutional custody provides security and insurance for digital assets.

• Many clients are unaware of the risks associated with holding crypto.

• The average client at Digital Ascension Group has substantial digital assets.

• Regulation in the crypto space is on the horizon.

• Younger generations are more interested in digital assets.

• Advisors can offer IRA options for investing in crypto.

• The market for digital assets is currently speculative.

• Understanding client needs in digital assets is crucial for advisors. Institutional custody in crypto is largely unknown to the public.

• Digital lottery winners are seeking strategic financial advice.

• Clients often hold assets with potential for significant appreciation.

• Financial advisors need to take digital assets seriously.

• Engaged clients are more likely to be satisfied with their advisors.

• The future of financial products will be heavily influenced by blockchain technology.

• Regulation will play a crucial role in the evolution of crypto markets.

• Market predictions indicate potential volatility in the near future.

• The US dollar remains a central figure in the digital economy.

• Transaction volumes are expected to increase as digital assets gain traction.

Resources Mentioned In This Episode:

• Digital Ascension Group - A multi-family office specializing in serving clients with significant digital asset holdings.

• Digital Wealth Partners - An RIA that works with individual clients and other RIAs to manage and advise on digital assets and alternative investments.

• Jake Claver on YouTube -Jake has a robust YouTube following. As he mentioned during the show , he hosts a livestream every Monday and Wednesday evening.

Chapters

00:00 Introduction to Digital Assets and Wealth Management

03:01 Understanding Digital Ascension Group's Services

07:59 The Rise of Digital Lottery Winners

09:23 The Importance of Advisors in the Crypto Space

15:32 Institutional Custody Explained

22:10 The Risks of Holding Digital Assets

24:37 Understanding Institutional Custody in Crypto

25:57 The Profile of Digital Lottery Winners

28:00 The Role of Financial Advisors in Crypto

30:29 Opportunities for Financial Advisors

32:27 Engaging Clients with New Asset Classes

34:15 The Future of Financial Products on Blockchain

36:29 The Impact of Regulation on Crypto

40:28 Market Predictions and Economic Insights

45:19 The Future of Transactions in a Digital Economy

How Financial Advisors Can Help Clients Navigate The Black Box of Healthcare Costs

Drew Shockley, Co-Founder of Move Health joins Mike Langford to explore how financial advisors can help their clients tackle one of the biggest obstacles that many are likely going to face at some point in their life…

Finding a health care plan that they can afford and that works within the framework of their overall life goals.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

If you would like to follow up with Drew, shoot him an email.

Key Takeaways From This Episode

• Healthcare costs can significantly alter clients' life plans.

• Many clients feel trapped in jobs due to healthcare benefits.

• Financial advisors often underestimate healthcare costs in planning.

• The healthcare landscape is complex and requires specialized knowledge.

• A significant portion of the population purchases their own healthcare coverage.

• The age group 55-64 is critical for healthcare planning.

• Myths about health insurance can prevent clients from making informed decisions.

• The Affordable Care Act has changed the healthcare insurance landscape.

• Financial advisors can play a crucial role in helping clients navigate healthcare options.

• There is a growing need for financial advisors to integrate healthcare planning into their services. Financial advisors play a crucial role in retirement planning.

• Healthcare costs are a significant concern for retirees.

• 72% of clients would switch advisors if healthcare needs aren't met.

• Long-term care is a reality for 50% of Americans.

• The modern advisor must understand healthcare options.

• Personalized service is essential in financial advising.

• The Affordable Care Act has changed healthcare access.

• Advisors should engage with clients about their career plans.

• Partnerships with healthcare experts can enhance client service.

• Understanding healthcare costs is vital for financial planning.

Resources Mentioned In This Episode:

• Move Health - A healthcare insurance planning firm utilized by forward-thinking financial advisors and their clients across the country.

• Long-Term Care Episode - In similar fashion to standard healthcare cost, long-term care has an extremely high probability to need for most clients of today’s financial advisors. Yet, most advisors are not planning for it appropriately, if at all. In this episode, Larry Nisenson of Assured Allies provides a quality roadmap for financial advisors to follow to ensure their clients needs are met.

Chapters

00:00 Introduction to Healthcare Challenges

02:45 The Role of Financial Advisors in Healthcare Planning

06:05 Understanding the Healthcare Landscape

08:52 Target Demographics for Healthcare Solutions

11:59 The Importance of Age 55-64 in Healthcare Planning

14:56 Myths About Health Insurance

18:12 The Impact of the Affordable Care Act

21:05 The Shift in Financial Advisory Services

24:10 The Modern Financial Advisor as a Quarterback

27:59 The Financial Playbook: Strategies for Retirement Planning

34:52 Navigating Healthcare: The Role of Financial Advisors

40:56 The Human Element in Healthcare Decisions

44:01 Unlocking Freedom: Helping Clients Transition to Retirement

52:57 The Future of Healthcare: Understanding the Affordable Care Act

Why Asking The Right Questions About Your Client’s Values Often Leads to Higher Quality Financial Advice

Jason Britton, CEO of Reflection Analytics joins Mike Langford to discuss the transformative power of values-based investing. They explore how financial advisors can help clients align their investment portfolios with their personal values, moving beyond traditional metrics of financial success. The conversation delves into the evolution of financial advice, the importance of understanding client values, and the challenges of navigating polarized discussions around investment choices. Jason emphasizes the need for genuine discovery in client conversations and the role of behavioral economics in understanding client motivations.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

If you would like to follow up with Jason, shoot him an email.

Key Takeaways From This Episode

• Advisors should help clients align portfolios with their values.

• Finance has evolved from a means to an end to a complex system.

• Values-based investing is about real-time decision-making.

• Discovery is key in understanding client motivations.

• Advisors must leave their politics at the door.

• Clients care about preserving the earth, regardless of political views.

• It's essential to provide clients with investment options that reflect their values.

• Finance is a social science, not just a hard science.

• Understanding what clients own is crucial for values alignment.

• Navigating values discussions requires sensitivity and openness. There is no such thing as perfection in business.

• Consistency and alignment are key in investment.

• Corporations should aim to create public good.

• The free market is influenced by government intervention.

• Subsidies are necessary for public infrastructure projects.

• Transitioning to renewable energy requires collective action.

• Wealth is created by providing value to society.

• Corporations and society must work together for mutual benefit.

• Personal values should guide investment decisions.

• AI has both positive and negative implications for society.

Resources Mentioned In This Episode:

• Reflection Analytics - A scalable values-based investing analysis engine that ensures asset managers, advisors and asset owners are accessing solutions that truly reflect their values and mandates.

• Reflection Asset Management - A boutique wealth and asset management firm specializing in thematic investing.

• Rural Electrification Act - The Rural Electrification Act of 1936 was a U.S. federal law that provided funding and support to bring electricity to rural areas, improving infrastructure and living standards in underserved communities.

Chapters

00:00 Introduction to Values-Based Investing

02:51 The Evolution of Financial Advice

09:22 Defining Values in Investing

15:11 The Importance of Discovery in Client Conversations

20:38 Navigating Polarization in Values Discussions

27:10 The Complexity of Values-Based Investing

29:02 The Pursuit of Consistency Over Perfection

30:53 The Role of Corporations in Society

32:42 The Myth of a Free Market

34:37 Subsidies and Public Good

36:33 The Value of Innovation and Risk

38:30 Wealth Creation and Shared Value

40:54 The Interdependence of Corporations and Society

42:47 Personal Values in Investment Decisions

44:40 The Future of Values-Based Investing

46:38 Engaging Clients in Financial Conversations

50:55 The Dual Nature of AI and Technology

Solving the Biggest Tech Problem in Wealth Management by Creating True Ownership of Your Firm’s Data

Jud Mackrill, Co-Founder of Milemarker joins Mike Langford for a conversation about the challenges financial firms face regarding data ownership and integration. They discuss the concept of data lakes, the mission of Milemarker to empower financial advisors with better data control, and the evolution of technology in the financial services industry.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

If you would like to follow up with Jud, shoot him an email.

Key Takeaways From This Episode

• True ownership of data is a significant challenge for financial firms.

• Milemarker aims to connect various systems for better data management.

• The term 'data lake' has gained traction in the financial advisory space.

• Having centralized data allows firms to understand their business better.

• Milemarker's origin story is rooted in solving industry-wide problems.

• The financial services industry is often slow to adopt new technologies due to regulations.

• Data will be central to enhancing client experiences in the future.

• Milemarker simplifies operational processes for financial advisors.

• Private equity involvement in the industry is increasing.

• Advisory firms need to prepare for data transparency and reporting. Our system actually delivers that to people and it's super fun.

• You need to work on your business, not just in your business.

• Adoption just never takes off or is really small because it's hard.

• Milemarker is not a DIY service.

• You need to own your data because you need to have your data in a way that you can control it.

• You're going to be an AI company, not a matter of if, it's a matter of when.

• Having that data together is going to be really imperative.

• You want to be able to use the tooling that's important to you.

• The war for talent is ongoing.

• It helps you articulate your thoughts better.

Resources Mentioned In This Episode:

• Orion - Jud Mackrill shares the story of being employee number 20 at Orion and how getting to work alongside the company's founder, Eric Clarke, shaped his career.

• Skience - As part of Jud's recalling the origin story of Milemarker he reflects on meeting his co-founder Kyle Van Pelt when Kyle was still working at Skience.

• Zapier - Mike mentioned how his sees some high-level parallels between what Milemarker is doing for wealth management firms and how Zapier has created the ability for businesses to connect a variety of other web services.

• Holistiplan - Jud mentioned how Milemarker is working to make it easier for advisors to adopt solutions like Holistiplan, a tax planning softwares tool and

• Wealth.com - An estate planning tool that benefits from deeper integration and ease of use with the advisor's existing workflow.

• Stefan Ludlow - Jud mentioned Stefan and his role as the CTO at Cerity Partners as an example of what a CTO at a modern financial advisory firm hopes their job will look like versus what life is like for most tech leaders in wealth management.

• The Connected Advisor - The Milemarker team are producing Podcast and Newsletter to connect with their prospects, clients, and the wider wealth management community. A side benefit is it helps them better articulate their thoughts about the space.

Chapters:

00:00 Introduction to Data Ownership Challenges

02:28 Understanding Milemarker's Mission

04:25 The Concept of Data Lakes

08:08 The Origin Story of Milemarker

14:06 The Evolution of Technology in Financial Services

19:02 Practical Applications of Milemarker

22:50 Unlocking Insights with Technology

23:19 Working on Your Business vs. In Your Business

24:18 Challenges of Technology Adoption in Advisory Firms

25:15 The Role of Milemarker in Technology Implementation

29:07 The Importance of Data Quality for AI

32:23 Preparing for the AI Revolution in Advisory Firms

36:30 Core Building Blocks for RIAs in 2025

41:29 The Value of Content Creation for Advisors

How Financial Advisors Can Build Better Client Relationships by Leveraging Technology

Patrick Spencer, Managing Director of Moneytree Software, joins Mike Langford to explore how financial advisors can enhance client relationships through technology. They discuss the evolution of Moneytree, the importance of goals-based planning and Monte Carlo simulations, and the critical role of communication in building trust with clients. The conversation emphasizes the need for advisors to understand their clients' objectives and to use technology to facilitate better engagement and decision-making.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

If you would like to follow up with Patrick, shoot him an email.

Key Takeaways From This Episode

• Financial advisors can build better relationships through technology.

• Money Tree has evolved significantly since its inception in 1981.

• Goals-based planning has transformed the financial advisory landscape.

• Monte Carlo simulations provide critical insights for financial planning.

• Frequent communication is essential for maintaining client relationships.

• Clients desire personalized communication about their portfolios.

• Understanding client objectives is key to effective advising.

• Data quality directly impacts the effectiveness of financial planning tools.

• Visual tools can enhance client understanding and engagement.

• The ultimate goal is to instill confidence in clients about their financial futures. Advisors should provide clients with choices within structured frameworks.

• Visual communication is essential for effective client engagement.

• Scenario planning helps clients envision different life paths and outcomes.

• Understanding client scenarios can lead to deeper conversations and insights.

• Generational differences influence how clients view retirement and financial planning.

• Business ownership should be treated as a valuable asset in financial planning.

• Advisors need to ask probing questions to uncover client aspirations and concerns.

• Technology is reshaping the way financial advisors interact with clients.

• Clients increasingly prefer interactive and visual tools for financial analysis.

• The financial advisory landscape is evolving, requiring adaptability from advisors.

Resources Mentioned In This Episode:

• Terry Black's BBQ - It's the best barbecue in Austin. You are welcome!

• How To Grow Your Financial Advisory Business by Helping Business Owners Sell Theirs - Great episode on serving business owner clients.

• Advisor - Client Communication Survey by YCharts - Patrick mentioned some insights surfaced in this survey during our discussion.

Chapters

00:00 Introduction and Personal Connections

04:29 The Evolution of Money Tree

10:20 Goals-Based Planning and Monte Carlo Simulations

18:24 Building Better Client Relationships

25:15 Conclusion and Future Directions

25:42 Client Engagement and Tools for Advisors

26:40 The Importance of Visual Communication

30:00 Scenario Planning in Financial Advisory

35:41 Understanding Client Scenarios and Life Changes

41:20 Generational Perspectives on Retirement

49:06 Business Ownership as an Asset

Strategies For Growing a Financial Advisory Business Without Adding New Clients

Jon Randall of XFA.Coach joins Mike Langford for an innovative exploration of strategies for growing financial advisory businesses. The conversation delves into the unique approach of XFA, the common constraints faced by advisors, and the importance of client optimization and segmentation.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

If you would like to follow up with Jon, shoot him an email.

Key Takeaways From This Episode

• XFA.Coach focuses solely on helping financial advisors grow their business.

• Many advisors face constraints due to having too many clients.

• Growth strategies differ significantly for practices under and over a million in revenue.

• Client optimization can lead to significant revenue increases.

• Segmentation of clients is crucial for effective service delivery.

• Advisors must transition from client-facing roles to leadership roles as they grow.

• The skills required for managing a business differ from those needed for advising clients.

• Community and mentorship can accelerate growth for financial advisors.

• Understanding the constraints at different revenue tiers is essential for growth.

• Letting go of clients can be difficult but is sometimes necessary for business health.

Resources Mentioned In This Episode:

• Most Advisors Are Not Growing Their Business - Here's Why That's A Problem and How To Fix It - Kieran Bol of PriceMetrix by McKinsey shares data that illustrates the lack of organic growth for financial advisory businesses.

• How Financial Advisors Can Grow Beyond a Plateau - Jon Randall joined Aaron Hasler of SkyView Partners and Mike Langford for an episode of the Advisor Financing Forum podcast to explore strategies for growth at varies levels of business for financial advisors.

Chapters

00:00 Introduction to Financial Advisory Growth

02:14 Understanding XFA.Coach and Its Unique Approach

04:40 Common Constraints in Financial Advisory Growth

09:20 Revenue Tiers and Their Challenges

18:01 Client Optimization as a Growth Strategy

25:58 The Importance of Client Segmentation

36:23 Transitioning from Advisor to Coach

44:51 The Journey from Advisor to Performance Coach

A New Unified Managed Account Platform Making It Easy For Financial Advisors To Customize and Scale

Katie Hendrix, Vice President and Director of Asset Allocation Research at Dimensional Fund Advisors, joins Mike Langford to discuss the firm's newly unveiled UMA platform, which provides access to personalized and tax-efficient investment solutions.

Sound Bites

• "SMAs and UMAs are making investment solutions available to a wider range of people, not just the ultra high net worth individuals."

• "Dimensional's UMA platform has allowed the firm to scale and serve a larger number of accounts with a small increase in headcount."

• "The UMA platform allows advisors to offer customized solutions while also having scalability and operational efficiency."

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

If you would like to follow up with Katie, shoot her an email.

Key Takeaways From This Episode

• Dimensional Fund Advisors has launched a UMA platform that combines the benefits of SMAs and ETFs, providing advisors with personalized and tax-efficient investment solutions.

• The UMA platform offers operational efficiency, flexible asset allocation, and multifaceted tax management, allowing advisors to outsource the day-to-day management to Dimensional.

• Dimensional plans to expand the UMA platform to include mutual funds and enhance its model management capabilities.

• Advisors can learn more about the UMA platform on Dimensional's website and request a demo.

Resources Mentioned In This Episode:

• Planning for Charitable Giving - Katie mentioned how UMAs are great tools for helping clients plan for charitable giving. Learn more about Donor Advised Funds on this episode with Adam Nash of Daffy.

• Dimensional Fund Advisors UMA Platform - This landing page offers a tremendous amount of insights into the new DFA platform for UMAs.

• The Trend Toward The Personalization of Investing At Scale - In this episode of the Augmented Advisor Podcast, Katie Hendrix and Shawn Jaberzadeh joined Mike Langford and John Prendergast, CEO of Blueleaf shortly after the launch of Dimensional's SMA solution.

Chapters

00:00 Introduction to the UMA Platform

14:17 Difference Between UMA and SMA

18:05 Development Process of the UMA Platform

30:06 Future of the UMA Offering

Why Financial Advisors Need a Cybersecurity Swat Team to Respond to The Inevitable

Michael Cocanower, CEO of AdviserCyber, joins Mike Langford to discuss the importance of cybersecurity for financial advisory businesses. He highlights the increasing threats and the lack of internal resources for most RIAs to protect against cyber attacks.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

If you would like to follow up with Michael, shoot him an email.

Key Takeaways From This Episode

• The SEC and other regulators are increasingly focused on cybersecurity for financial advisory businesses.

• Most RIAs are not equipped internally to protect against cyber attacks.

• New SEC rules include revisions to Reg S-P and new disclosure requirements.

• Cybersecurity efforts should focus on prevention, detection, mitigation, and remediation.

• Email-based compromise is a common type of attack, emphasizing the importance of cybersecurity training and multi-factor authentication. Multi-factor authentication (MFA) is crucial in preventing email-based attacks and should be implemented by all users.

• Being cautious when clicking on suspicious links and verifying the sender's email address can help identify phishing attempts.

• Ransomware attacks have evolved to include data exfiltration, making prevention and detection even more critical.

• A proactive approach to cybersecurity, including detection, mitigation, and remediation, is necessary to combat cyber threats.

• Engaging in ongoing education and staying updated on cybersecurity trends and best practices is essential for protecting sensitive information.

Resources Mentioned In This Episode:

• How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients - Mykolas Rambus of Hush

• Protecting Your Clients And Your Firm From Financial Fraud - Andrew Crowell from D.A. Davidson shares his insights from an advisor’s perspective on cybersecurity.

• SEC Reg S-D - Amendments "modernize and enhance the rules that govern the treatment of consumers’ nonpublic personal information by certain financial institutions."

Chapters

00:00 Introduction: The Importance of Cybersecurity for Financial Advisory Businesses

03:08 Understanding the New SEC Rules on Cybersecurity

09:07 The Four Pillars of Cybersecurity: Prevention, Detection, Mitigation, and Remediation

23:50 Common Types of Attacks and the Need for Cybersecurity Training

24:40 Enhancing Security with Multi-Factor Authentication

25:10 Introduction to Cybersecurity Threat Reports

27:01 The Human Element in Cybersecurity

29:41 Recognizing and Avoiding Phishing Attempts

34:16 The Importance of Communication and Verification

41:10 Shifting the Mindset: Assume Breach

46:41 Proactive Measures: Isolating Individual Computers

How An Innovative New Solution For Donor Advised Funds Is Helping Financial Advisors Build Deeper Relationships With Client Households

Adam Nash, the co-founder and CEO of Daffy joins Mike Langford to explore the power of donor advised funds for creating opportunities for your clients and their families to make the kind of meaningful impact they want on the world.

Daffy, which is short for "Donor Advised Funds For You" is an innovative solution designed to make it easier for financial advisors and their clients to collaborate on plans for charitable giving.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

If you would like to follow up with Adam, shoot him an email.

Key Takeaways From This Episode

• Donor advised funds are a powerful tool for charitable giving and tax planning.

• Financial advisors should incorporate charitable giving into their clients' financial plans and understand their clients' values.

• Daffy offers a family plan that allows multiple generations to participate in charitable giving and have meaningful conversations about their values.

• Technology can make it easier for people to give to charity and automate their giving goals. Daffy offers features for financial advisors to use with their clients, including multi-user support and the ability for advisors to perform financial actions on behalf of their clients.

• Advisors are encouraged to talk to their clients about their charitable giving goals and help them create a plan.

• Daffy provides content and tools to support advisors in these conversations.

• The surprising benefits of Daffy include the support and collaboration from other donor advised funds and the ability to offer integrated charitable matching programs for companies.

Resources Mentioned In This Episode:

• Daffy for Advisors - Learn how to provide Daffy to your clients and help them manage their families donor-advised funds.

• Daffy for Work - Learn how to offer Daffy to your financial advisory firm’s team.

• BNY Mellon Charitable Giving Study - Learn what clients expect from their financial advisors when it comes to advising on their charitable giving efforts.

• How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients - Mykolas Rambus of Hush

• Reimagining Estate Planning As Helping Clients Make Premade Decisions For Their Loved Ones - Andrew Crowell of D.A. Davidson

• What Exactly Is Sustainable Investing? And Why Are Today's Clients Demanding It? - Peter Krull of Earth Equity Advisors

Chapters

00:00 Introduction to Donor Advised Funds and Charitable Giving

02:23 The Need for Innovation in Donor Advised Funds

05:41 The Importance of Setting Goals for Charitable Giving

11:20 The Lack of Innovation in the Donor Advised Fund Industry

15:26 Engaging Multiple Generations in Charitable Giving

19:12 The Universal Value of Giving

21:06 Using Technology to Make Giving Easier

22:32 Incorporating Charitable Giving into Financial Plans

22:45 Using Daffy Features with Clients: A Guide for Financial Advisors

26:22 Incorporating Charitable Giving into Financial Planning: Tips for Advisors

32:03 Tax Strategies and Charitable Giving: A Winning Conversation for Advisors

38:38 Collaboration and Surprising Benefits in the Donor Advised Fund Industry