In this episode of Always On, Duncan MacPherson sits down with financial advisor and entrepreneur Sten Morgan, author of The Seven Mindsets of Success. Together they explore the shifting demographics of the industry, the power of the mentor–protégé dynamic, and how younger advisors can break free from outdated models. Sten shares candid lessons from his own journey, including the importance of charging for ideas, becoming a better communicator, and creating client experiences that inspire long-term advocacy.
Whether you’re early in your career or an established advisor seeking to reinvent your practice, this conversation offers a roadmap for building relevance, resilience, and real value in a changing profession.
Key Takeaways:
- Why the aging advisor demographic creates opportunities for the next generation
- The mentor–protégé model and how both sides benefit from alignment
- Lessons from The Seven Mindsets of Success and how to apply them
- How to confidently charge for time and ideas—not just products or assets
- The importance of communication skills in building trust and credibility
- Practical strategies to elevate client meetings from routine reviews to engaging strategy sessions
Resources Mentioned:
- The Seven Mindsets of Success by Sten Morgan
- The E-Myth by Michael Gerber
- The Millionaire Next Door by Thomas Stanley
- Visit gobeelite.com for more from Sten Morgan
Promotions:
- The Ultimate Guide to Financial Advisor Coaching: paretosystems.com/guide-to-financial-advisor-coaching
Connect With Duncan MacPherson:
- Pareto Systems
- 866.593.8020
- Schedule a Call
- Duncan on LinkedIn
Connect With Sten Morgan:
About Our Guest:
Sten Morgan is one of the country’s leading voices helping financial advisors think and act differently. He is the founder of Legacy, a multi-million dollar financial planning firm based in Franklin, Tennessee, built on a planning-first model that prioritizes proactive strategy and leadership.
He also founded the Elite Advisor Network, where he coaches thousands of advisors nationwide to increase their value, communicate with confidence, and reach their potential, faster.
Sten was named one of Investment News’ 40 Under 40 top advisors at the age of 30. He has since redefined what it means to be a modern advisor—leading with planning, building intentional businesses, and helping others do the same.
He’s the author of three industry-shaping books: 7 Mindsets of Success, Value First Prospecting, and Wish I Knew That Sooner. His frameworks and thought leadership have been featured in ThinkAdvisor, and on stages across the country.
Sten is known for challenging the status quo, helping advisors recognize and reach their full potential.
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