Reese Harper, CEO of Elements, joins Mike Langford to discuss how financial advisors can use vital signs to improve client conversations and increase their comfort level around financial advice.
Reese explains that vital signs are objective scores that measure various aspects of a client's financial health, such as liquidity, debt-to-income ratio, and savings rate. By using vital signs, advisors can provide personalized advice and help clients make informed decisions about their finances.
Reese also emphasizes the importance of specializing in a niche market and using vital signs to demonstrate value to prospective clients. Lastly, Reese shares how Elements can be used to accelerate the closing process for new clients.
If you would like to follow up with Reese Harper, shoot him an email.
Key Takeaways From This Episode:
Vital signs are objective scores that measure various aspects of a client's financial health, such as liquidity, debt-to-income ratio, and savings rate.
By using vital signs, financial advisors can provide personalized advice and help clients make informed decisions about their finances.
Specializing in a niche market and using vital signs can help advisors demonstrate value to prospective clients.
Elements, a financial vitals software, helps advisors streamline their processes and provide meaningful financial care.
Resources Mentioned In This Episode:
Elementality Podcast - With Reese Harper and Carl Richards
Dentist Advisors - This is Reese's RIA which influenced his founding of Elements
Chapters
00:00 Introduction and Overview
02:56 The Concept of Vital Signs
10:05 Improving Financial Behaviors with Vital Signs
28:31 Using Vital Signs in a Niche Market
35:23 The Birth of Elements and the Importance of Vital Signs
41:06 Accelerating Client Onboarding with Elements