Category Archives: Financial

Unlock Success in Family Dynamics and Next-Gen Wealth with Jackie Wilke (Ep. 60)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , , , ,

Are you ready to become the indispensable advisor who guides entire families through wealth building and legacy planning?

Remember, it’s not your client’s responsibility to introduce you and it’s not the family member’s job to ask. You must be proactive and cultivate relationships across the family tree!

In this enlightening and highly relevant episode, Duncan MacPherson speaks with Jackie Wilke, VP of Advisor Consulting at First Trust Portfolios. They provide a step-by-step guide to progressively foster relationships with your clients’ family members (including the next-gen wealth inheritors).

They discuss:

  • How to initiate the conversation with the “family phone call”
  • How to position yourself as a valuable resource for the client’s family (you must lead with a give, not an ask!)
  • Major opportunities to create educational content and develop social proof
  • Connecting with the sandwich generation
  • The sweet spot between high-tech and high-touch
  • How to adapt to the evolving needs of the next-gen
  • And more

Resources:

Connect With Duncan:

Connect With Jackie:

Promotions:

About Our Guest:

Jackie Wilke is a speaker, author, consultant, and coach for select partners of First Trust, a firm known not only for its robust investment product line which includes UITs, ETFs, SMAs, and VAs (to name a few) but also for its commitment to the growth of financial advisors. Jackie’s focus is business development and innovation including expertise in helping financial professionals, teams, and the next generation of high-net-worth individuals/households and multi-generational families. She is also the author of Insights & Innovations, a business development blog for financial professionals and enterprises.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

The Advisor of Tomorrow with Isaac Richard III (Ep. 59)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , , , , , ,

Newer advisors in the industry are always thinking of ways to not just survive but thrive.

Meanwhile, more experienced advisors want to attract younger talent as part of their continuity and succession plan.

Let’s explore this transition to the next generation and how it coincides with a similar wealth transition among clients. In this episode, Duncan MacPherson speaks with Isaac Richard III, CEO of Mavros Capital, about forward-thinking growth strategies that cater to the advisor and client of tomorrow.

They discuss:

  • How younger advisors can break through the “reputational equity” barrier
  • The evolving needs of Gen 2 clients and their family dynamics
  • The essential role of technology, particularly AI, in modernizing advisory services and client interactions
  • Actionable insights into advisor branding
  • How to enhance your fee-worthiness in the current environment
  • And more

Resources:

Connect With Duncan:

Connect With Isaac:

Promotions:

About Our Guest:

Isaac Richard III is CEO of Mavros Capital, a premier multi-family office and strategic advisor to some of the world’s most accomplished and influential entrepreneurs, visionaries, athletes, families and institutions. Mavros integrates a platform of family office, asset management and investment banking solutions continuing to shape the future of how significant wealth is managed, how capital is deployed and how legacies are extended across generations.

Isaac manages the firm’s strategic direction and continues to serve select single-family offices and UHNW clients. As an avid investor, Mr. Richard chairs the firm’s Investment Committee, leading the Mavros expansion offering bespoke asset management strategies across both public and private markets that includes venture capital, private equity, private credit and real assets. Prior to Mavros, Isaac spent his career as a private advisor at Morgan Stanley & First Republic & J.P. Morgan.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Finding Clarity and Confidence in Advisor Transitions with Louis Diamond (Ep. 58)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , , ,

Transitioning to another employee-model firm or launching an RIA firm can be daunting!

Finding the right fit, adapting to the new environment, communicating the transition to your existing clients…there’s a lot to consider.

Let’s break it all down with Duncan MacPherson and guest Louis Diamond, President of Diamond Consultants, a financial advisor recruiting firm. With his strategic perspective and wealth of experience guiding top teams through transitions, mergers, and acquisitions, Louis offers valuable insights and solutions to help you navigate change with clarity and confidence. 

They discuss:

  • Top challenges advisors face while transitioning
  • Strategies to maximize your business’s efficiency, profitability, and overall value
  • Why transitions are a great opportunity to revitalize your value proposition
  • How to effectively position your transition in front of your existing clients
  • The “Shrink to Grow” approach
  • And more

Resources:

Connect With Duncan:

Connect With Louis:

Promotions:

About Our Guest:

Louis has guided many of the top teams in the industry as they’ve transitioned to another employee-model firm or launched RIA firms. As a next-generation leader for Diamond Consultants, Louis has a first-hand understanding of the needs and requirements of complex multi-generational teams. His strong business acumen, refined analytical skills, and objectivity allow him to advise independent business owners who want to accelerate growth via mergers, acquisitions, and recruiting.

As President of Diamond Consultants, Louis is responsible for the day-to-day operations of the firm, with an eye toward future growth. Much like the advisors he counsels, his focus remains on providing the best advice possible for those we work with while transforming the firm into a scalable enterprise.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

The Language of Referrals with Bill Cates (Ep. 57)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , , ,

Does asking for referrals make you feel like you’re being needy? Are you afraid of hurting your existing relationships with clients and COIs?

When asking for referrals, your words matter!

Catch Duncan MacPherson’s conversation with Bill Cates, referral coach and author of “The Language of Referrals,” about the art of being referable and mastering the concept of introductions with professionalism and stewardship. They highlight the biggest barriers to referrals and how to overcome them by using the right language.

They discuss:

  • Subtle word choices that have a profound impact on your referability
  • How to attract more of your “ideal clients”
  • How to build trust with centers of influence
  • Sample scripts and power phrases that you can instantly apply to your conversations
  • And more

Resources:

Connect With Duncan:

Connect With Bill:

Promotions:

About Our Guest:

Bill Cates, CSP, CPAE, works with financial advisors to speed up their growth without increasing their marketing budget. Advisors tap into Bill’s proven process to multiply their best clients through introductions from advocates and Centers of Influence, communicate their value proposition more effectively, and create a reputation in a profitable target market. Bill helps advisors move from push prospecting to magnetic marketing – to attract more Right-Fit Clients™.   

Bill is the author of 3 best-selling books, Get More Referrals Now, Beyond Referrals, and Radical Relevance. Bill’s newest book, The Language of Referrals is due to be released in March of 2024. He is the founder of The Cates Academy for Relationship Marketing™, has been named the #1 Financial Advisor Influencer by Indigo Marketing, and is the host of the acclaimed Top Advisor Podcast (www.TopAdvisorPodcast.com) – now ranked in the Top 10% of podcasts worldwide.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Transitioning Next-Gen Wealth with Tom Deans (Ep. 56)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , ,

The complexities of passing on a legacy and managing family dynamics can be overwhelming, especially for first-generation business owners.

As their advisor, how can you help prepare their heirs and transition wealth smoothly?

Find out as Duncan MacPherson speaks with Tom Deans, Ph.D., intergenerational wealth expert, speaker, and best-selling author of “Every Family’s Business” and “Willing Wisdom.” They explore how advisors can improve client retention and referrals by addressing one of the biggest unmet needs of self-made first-generation business owners and professionals — continuity and succession planning.

They discuss:

  • Major challenges faced by business owners during succession planning
  • How advisors can set the stage for successful wealth transfer
  • Why multi-generational family meetings (with the advisor present) can be incredibly powerful and revealing
  • Strategies for addressing complex family dynamics
  • A sneak peek into Tom’s upcoming book: The Happy Inheritor
  • And more

Resources:

Connect With Duncan:

Connect With Tom:

Promotions:

About Our Guest:

Tom Deans, Ph.D.’s research and thought leadership on the subjects of wealth transfers, preparing heirs, and family dynamics have made him an in-demand speaker and webinar presenter. He is the author of the best-selling family business book of all time, Every Family’s Business: 12 Common Sense Questions to Protect Your Wealth, listed by the New York Times as one of the top ten books business owners should read. His second book, Willing Wisdom: 7 Questions Successful Families Ask, offers a creative process to bring transparency to a family’s estate plan. More than two million copies of his books are in circulation.

Dr. Deans gives more than 100 speeches a year on the subject of intergenerational wealth transfers, preparing heirs, and business succession planning. Over the past 17 years, he has delivered more than 2,000 keynote speeches in 28 countries on four continents. He has also provided advanced training to advisors employed by the world’s largest financial institutions, law firms, and accounting firms.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

The Future of Branding and Client Acquisition with Seth Diener and Alex Lerch (Ep. 55)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , , , , , ,

With messaging, the key is brevity, specificity, and proprietary.

You must choose your target audience, personalize your marketing to resonate with them, walk them through a proprietary process, and share their experience using effective testimonials!

Learn more about elevating your brand in this episode, as Duncan MacPherson speaks with Seth Diener, owner of Diener Money Management, and Alex Lerch, director of Oak & Stone Advisor Marketing. They explain how advisors can better focus their marketing efforts on their ideal audience — and then harness the power of AI during the implementation phase.

They discuss:

  • The multi-fold benefits of giving your process an identity (i.e., a brand within a brand)
  • How to garner a newfound appreciation from existing clients
  • How to use client testimonials in multiple ways and make the most out of them
  • Using AI to craft content (especially when the average human attention span is at an all-time low)
  • And more

Resources:

Connect With Duncan:

Connect With Seth:

Connect With Alex:

Promotions:

About Our Guests:

Seth J. Diener is an independent Private Wealth Manager and is the founder of Diener Money
Management, a financial services firm in Newtown, Pennsylvania.

Seth is a proud Pareto graduate and has implemented his proprietary process, The Flourish Formula,
throughout his operations, marketing and practice.

Alex Lerch is the Marketing Director for Oak & Stone Advisor Marketing, specializing in assisting
financial advisors for nearly a decade. He excels in developing marketing systems for advisors within
their practices, referral strategies, communication plans, and modern media to help advisors grow
their firms.

With a deep understanding of the industry and a focus on personalized solutions, Alex has established
a reputation as a trusted partner for financial advisors seeking marketing support.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Leaving No Stone Unturned: How to Maximize Your Exit Strategy with Ted Jenkin (Ep. 54)

Leaving No Stone Unturned: How to Maximize Your Exit Strategy with Ted Jenkin (Ep. 54)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , , , ,

Want to receive maximum value for the business you’ve worked so hard to build?

The key lies in being proactive with your exit strategy.

Dive into a thought-provoking conversation between Duncan MacPherson and returning guest Ted Jenkin, CEO of oXYGen Financial and president of Exit Stage Left Advisors. Together, they uncover practical insights to streamline your operations, improve client acquisition, and scale your credibility — ultimately garnering a higher multiple for your business.

They discuss:

  • The critical role of recurring revenue in enhancing enterprise value
  • Creating “proprietary” value as an advisor
  • Using client testimonials and online reviews to build trust
  • How to leverage AI for content creation (with a list of helpful resources)
  • How an exit plan helps you de-risk in the face of uncertainty and volatility
  • Navigating the HR and legal parameters of a sale
  • And more

Resources:

Connect With Duncan:

Connect With Ted:

Promotions:

About Our Guest:

Ted Jenkin is a serial entrepreneur with more than 15 years of experience in building and selling successful businesses in various sectors, such as finance, media, insurance, bookkeeping, and technology. As the President at Exit Stage Left Advisors, Ted helps small and medium-sized business owners maximize their valuation and get top dollar when they sell their companies. 

Ted has multiple credentials in the financial industry, including Certified Financial Planner, Chartered Retirement Plans Specialist, and Accredited Wealth Manager Advisor. He is also a national media personality, appearing on various outlets such as Fox, CNN, HLN, The Weather Channel, WSJ, CNBC, and more. Ted hosts a national entrepreneur podcast called The Shrimp Tank and a national small business television network called America’s Small Business Network. His mission is to empower and educate business owners and individuals on how to achieve the highest possible multiple when they sell their business.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Shaping Your Branding Strategy: How to Run a Client Advisory Council with Mike “Cy” Cajthaml Jr. (Ep. 53)

Shaping Your Branding Strategy: How to Run a Client Advisory Council with Mike “Cy” Cajthaml Jr. (Ep. 53)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , , , ,

In your mind, you have a certain brand image and value proposition for your business. Do your clients see it the same way?

Are your clients well-equipped to tell your story for you and be your biggest advocates?

Join Duncan MacPherson and Mike “Cy” Cajthaml Jr., a business consultant at Pareto Systems, as they delve into the power of client advisory councils in uncovering unmet needs, elevating the client experience, and achieving professional contrast. You will learn a turnkey approach to simplify the process and make client advisory councils a routine best practice.

They discuss:

  • The complete process and logistics from ramp-up to execution to follow-through (with an example)
  • How to conduct effective, agenda-driven discussions that lead to actionable insights
  • How to position the idea of advisory councils to your clients for the first time
  • Why client feedback can result in improved referability
  • The added benefit of finding a renewed sense of purpose for advisors
  • And more

Resources:

Connect With Duncan:

Connect With Mike:

Promotions:

About Our Guest:

Mike “Cy” Cajthaml Jr. has distinguished himself in the financial services industry over a remarkable 17-year career, marked by his vibrant and effective leadership style. He’s deeply committed to enhancing business and practice management strategies, always focusing on the achievement of his clients’ goals.

Mike’s career in the financial service industry was initiated at a major insurance-marketing organization, where he played a pivotal role in advising financial advisors nationwide on product solutions and marketing strategies. After dedicating six years to advising and coaching in the financial realm, Mike transitioned to become a financial advisor, collaborating with his father in Overland Park, KS. Their partnership managed substantial asset portfolios, leveraging a variety of insurance products. Mike’s firsthand experience with the Pareto Process, coupled with his insights from working with successful financial advisory firms, reinforced his belief in its transformative impact.

Driven by his conviction in the Pareto Process, Mike embraced the role of a Pareto coach. His unique blend of wholesale and retail experience empowers him to assist numerous advisory firms in integrating these processes, ultimately enabling advisors to realize their ideal lifestyle.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Harness the Power of AI: Game-Changing Strategies for Modern Advisors with Craig Kirkpatrick (Ep. 52)

Harness the Power of AI: Game-Changing Strategies for Modern Advisors with Craig Kirkpatrick (Ep. 52)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , , , , ,

Whether you like it or not, the world is quickly adopting artificial intelligence (AI).

Now, the choice is yours — Do you want to get on board and leverage AI to improve your business? Or do you want to risk falling behind other advisors?

To stay ahead of the curve, Join Duncan MacPherson and Craig Kirkpatrick, founder of Act-Three Consulting, to learn how to use AI to save time, connect better with clients, and expand your knowledge along the way. This insightful conversation will expand your thinking around how AI is here to serve you, not hurt you.

They discuss:

  • A methodical approach to AI prompting for better results
  • How to use AI for faster content creation (with insights about navigating compliance)
  • A list of up-and-coming AI tools that may be relevant to your business
  • Real-world examples of successful AI applications
  • Why the “human touch” will become even more important with the adoption of AI
  • And more

Resources:

Connect With Duncan:

Connect With Craig:

Promotions:

About Our Guest:

With over three decades of seasoned experience in the financial services sector, Craig Kirkpatrick is committed to educating advisors to help them better serve their clients. His Act Three journey is characterized not just by his prior achievements, but with relentless curiosity and dedication to empowering financial advisors through the understanding and application of Artificial Intelligence and Blockchain technologies.

Craig deeply values the potential of AI to enhance client interactions in financial advising, advocating for its integration as a tool for smarter decision-making and stronger relationships. His interest in blockchain, with certificates by DACFP and CAIA, underpins Act Three’s vision of understanding through education. Craig also co-founded Orinda Asset Management, where they launched pioneering liquid alternative mutual funds. Before Orinda, Craig co-founded Kensington Investment Group which launched one of the first long-short REIT mutual funds, a REIT preferred fund, and a global infrastructure fund. Craig is a grounded professional, who, through Act Three, continues to explore and advocate for the future of financial planning and asset management, guided by innovative technologies.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

From Organic to Scalable Growth with Bill Sowell (Ep. 51)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , , , ,

The transition to fee-based services has prompted advisors to prioritize fee-worthiness, with clients focusing less on cost and more on perceived value.

Plus, the complexities of relationship management may be amplified in a B2B upscaling model.

In this episode, Duncan MacPherson speaks with Bill Sowell, CEO of Sowell Management, about the distinction between salesmanship and stewardship, and what it takes to cultivate lasting client relationships. They also talk about the shift from a B2C organic growth model to a franchise-ready B2B upscaling model.

They discuss:

  • Being a consolidator versus adopting a methodical organic growth model
  • How Bill’s firm struck a powerful balance between the proverbial Wall Street-Main Street dynamics
  • Why advisors should never lose sight of relationship management
  • The path to strong advisor partnerships and an effective fit process
  • How technology and the Great Wealth Transfer are shaping financial services
  • And more

Resources:

Connect With Duncan:

Connect With Bill:

Promotions:

About Our Guest:

Bill began his career in the financial services industry in 1990 and quickly became a top producer within the industry. In 1995, he began a fee-only practice now known as Sowell Management, which services a broad spectrum of some of the top Independent Advisor Representatives (IARs), and Registered Investment Advisors (RIAs) in the United States. He and his wife, Cindy, have worked as a team for more than 20 years. Bill is a bridge builder. He is passionate about helping advisors see an independent and prosperous future and guiding them through the entire journey.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More