Modern Financial Advisor

Bob Clare spent 25 years inside Bank of America and Merrill Lynch before founding Fispoke — a complete embedded banking and lending platform built specifically for independent RIAs and financial advisors. And what he saw from the inside is what drove him to build it: the big banks have a very deliberate strategy to cross-sell your clients every time they walk through their doors. Most independent advisors have no idea it’s happening. In this episode, Mike and Bob dig into why integrating banking into your practice is both an offensive and defensive strategy, what it really means to be a fiduciary when you’re only managing half of your client’s financial life, and how Fispoke is enabling advisors to offer $20.5 million in FDIC insurance and a 3.56% high-yield savings APY to their clients today. They also unpack a stat that should stop every advisor cold: 81% of heirs switch advisors after inheriting wealth. Bob explains how building a banking relationship with the next generation is one of the most powerful retention tools in an advisor’s arsenal. Chapters: 0:00 - Cold Open: Bob’s Warning to Advisors 0:30 - Episode Intro 2:00 - Welcome Bob Clare / The Journey from Terry’s Episode to Today 3:00 - Fispoke Elevator Pitch: The Turnkey Banking Platform for Advisors 6:00 - Offense & Defense: Banks Are Actively Cross-Selling Your Clients 13:30 - The Fiduciary Blind Spot: Managing One Side of the Balance Sheet Isn’t Enough 19:00 - Business Owner Clients and the Banking Opportunity 20:30 - $20.5 Million in FDIC Insurance: The Sleep-at-Night Conversation 25:30 - From Portfolio Manager to Capital Architect 28:30 - Advisor Financing: Own Your Destiny Without Selling to Private Equity 29:30 - The 81% Problem: Banking as a Next-Gen Retention Strategy 35:00 - Getting Started with Fispoke (No Platform Fees) 38:30 - Training & Getting Comfortable with Banking Conversations 43:00 - First Mover Advantage & Closing Thoughts 47:00 - Outro

Rich Walker, co-founder and CEO of Quik!, joins Mike Langford to share his four essential pillars for creating exceptional client experiences—including the provocative first principle: love your customer. Rich reveals why he and his wife shut down a profitable business after four months because they didn't love their customers, and what that taught him about building sustainable advisory relationships. This conversation explores the intersection of AI, leadership, and human connection in wealth management. Rich breaks down how to set boundaries that make clients feel more secure, why a 99% satisfaction score might indicate you're doing too much, and how to treat AI tools as collaborative colleagues rather than robotic servants. Plus, Rich unveils Quik!'s revolutionary new product, Formstream, which promises to transform the paperwork nightmare every advisor faces. The 4 Pillars Framework: Pillar #1: Love Your Customer - Why this is non-negotiable and how to know when you don'tPillar #2: Be Your First Customer - Solving problems you actually experiencePillar #3: Be On Your Customer's Team - You're the guide, not the heroPillar #4: Know and Enforce Your Boundaries - How limits create love and trust Key Topics Covered: Only 30% of firms are actually using AI (you haven't missed the boat)How to think about AI as a colleague vs. a toolThe collaborative approach to AI that produces better resultsWhy solo advisors still need leadership skillsTeaching clients how to communicate with you through boundariesThe danger of 100% customer satisfaction scoresIntroducing Formstream: The "TurboTax approach" to formsHow paperwork friction costs advisors months in onboarding time Episode Timeline: 0:00 - Cold Open: Love Your Customer 0:52 - Episode Introduction 2:00 - Welcome Rich Walker to the Show 4:41 - The 4 Pillars of Client Experience Framework 5:00 - Pillar #1: You Have to Love Your Customer 6:00 - Being Interested in Your Clients 7:48 - Shutting Down a Profitable Business (Wife's Weight Loss Company) 9:00 - Pillar #2: Be Your First Customer 11:00 - Why Rich Quit Being a Financial Advisor 12:43 - Pillar #3: Be On Your Customer's Team 13:00 - Building a StoryBrand - You're the Guide, Not the Hero 14:00 - Financial Advisors Are Relationship-Based 15:00 - Helping Your Team See the Impact of Their Work 17:40 - Pillar #4: Know and Enforce Your Boundaries 18:00 - Alamo Drafthouse: Boundaries Create Great Experiences 20:00 - Children Feel Love When They Know the Boundaries 22:23 - Teaching Clients How to Communicate With You 24:00 - The 99% Customer Satisfaction Problem 26:00 - Not Making Enough Turnovers (Basketball Analogy) 27:00 - Sarah Vogelsanger's Phone Call Feedback 28:00 - Thomas Gold Solutions: We Answer the Phone 30:43 - AI and Client Experience in Wealth Management 32:33 - Only 30% of Companies Are Actually Using AI 34:00 - SunWest Credit Union's "Sunny" AI Story 35:00 - Does AI Enhance or Replace Your Client Experience? 36:00 - Excel and Claude: Mind-Bending Capabilities 38:43 - The Two Aspects of AI: Tool Set vs. Personal Dialogue 40:00 - Think of AI Like a Human Colleague 41:00 - The M-Dash Story: Asking AI "Why?" 42:00 - Training Employees vs. Training AI 44:00 - Stop Prompting, Start Collaborating with AI 45:00 - Let AI Write Its Own Prompts 46:00 - Surfing the Trend vs. Fighting the Tide 47:00 - Video Calls Have Become Universal 48:00 - Rich's Mom Uses ChatGPT for Journaling on Walks 49:00 - What Does Quik! Actually Do? 50:00 - Introducing Formstream: Dynamically Creating Software from Forms 51:00 - The "TurboTax Approach" to Forms 52:00 - Paperwork Friction Causes 2-Month Delays 53:00 - Where to Find Rich Walker and Connect 54:00 - Episode Outro and Final Thoughts

What if AI could actually make you MORE human with your clients? Matt Halloran, Chief Evangelist at Zocks, joins Mike Langford to share a powerful paradox that's transforming financial advisory: the technology that was supposed to replace human connection is actually deepening it. In this episode, you'll discover: How one advisor nearly missed his client's spouse mentioning a serious health issue—but his AI notetaker caught itWhy the "tyranny of minutiae" is keeping advisors from spending quality time with clients (and how to break free)The surprising stat: advisors only spend 20% of their time with clients—and how to reclaim 10+ hours per weekWhy having "no baggage" makes AI the perfect listener in client meetingsHow 2 million meetings worth of machine learning is making every advisor better at their jobThe simple follow-up email strategy that's helping advisors close more business against competitorsWhy adoption rates for AI tools are skyrocketing from 10% to 90% in just 18 monthsHow to attract young talent and drive organic growth in the AI era Matt also shares a powerful Navy story about "trusting the wind at your back"—a metaphor that shaped his entire career and led him from co-founding ProudMouth (the largest podcasting company in financial services) to his new role evangelizing AI solutions. Whether you're skeptical about AI or already experimenting with it, this conversation will shift how you think about technology's role in building deeper, more authentic client relationships. Guest: Matt Halloran, Chief Evangelist at Zocks Learn more: https://www.zocks.io/mattgpt

The Future of Financial Advising: Alan Moore on XYPN's Growth, Fee-For-Service Models, and More In this episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Alan Moore, CEO of XY Planning Network (XYPN) and AdvicePay, for an insightful discussion at the XYPN Live conference in Austin, Texas. They explore topics such as the challenges of organic growth in the financial advising industry, the rise of fee-for-service models, and the different phases of building a successful advisory business. Alan shares his journey from starting his own firm to managing two large companies, emphasizing the importance of finding the right business model and staying transparent with clients. Tune in to learn valuable insights from one of the industry's most inspiring leaders. Don't forget to subscribe on Apple Podcasts, Spotify, Google Play, Amazon, or your favorite podcast platform! Chapters: 00:00 Understanding Market Saturation in Financial Advisory 01:08 Introduction to the Modern Financial Advisor Podcast 02:56 Welcoming Alan Moore to the Show 05:14 The Origin Story of XYPN 08:36 Challenges and Growth in Entrepreneurship 15:13 Phases of Business Development 20:35 Reflecting on Rapid Growth and Challenges 21:43 The Shift to Fee-for-Service Models 22:33 Exploring the AUM Model and Market Saturation 29:30 The Origin and Growth of AdvicePay 31:56 Balancing Multiple Ventures as an Entrepreneur 33:32 Building Influence and Creating Gravity 37:09 Conclusion and Final Thoughts

Unlocking The Secrets to Scaling Your Financial Advisory Business - Michael Kitces on XYPN Live In this episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Michael Kitces during the XYPN Live conference in Austin, Texas. They discuss the importance of knowing your target market, focusing on strategic planning, and the concept of 'gravity' in marketing. Michael shares insights into creating a successful, scalable financial advisory business, moving away from time-based marketing activities, and the benefits of a clear, targeted market segment. The conversation also touches on the innovative structure and support offered by XY Planning Network to independent advisors. Michael's expertise offers transformative advice for financial advisors looking to grow and sustain their practices efficiently. Chapters: 00:00 Understanding the Importance of Target Audience 01:14 Introduction to the Modern Financial Advisor Podcast 03:09 Welcoming Michael Kitces 04:46 The Concept of Creating Gravity in Wealth Management 06:43 Challenges in Scaling a Financial Advisory Business 13:15 Strategic Planning and Marketing for Advisors 19:17 The Flaws of Time-Based Marketing 20:12 Scaling Your Business with Brand Building 20:59 Challenges in Organic Growth 21:44 Reinventing Business with XYPN 23:21 Building Your Own Firm with XYPN 24:39 Support and Compliance Services 25:23 Tech Stack and Community Support 29:05 Flexible Business Models and Membership 31:34 The Importance of Niche Marketing 34:53 Conclusion and Upcoming Episodes

In this episode of the Modern Financial Advisor Podcast, host Mike Langford is joined by David Knoch, CEO of Docupace, to discuss the evolving landscape of financial advisory operations. David shares his insights on the industry's archaic practices, the importance of operational efficiency, and the role of AI in future-proofing financial services. With over 400,000 users on their platform, Docupace is leading the charge in transforming back-office operations for financial advisors. Tune in to learn about Docupace's vision for intelligent automation, their strategic acquisitions, and how they are addressing the $50 billion problem of inefficiency in financial advisory firms. Chapters: 00:00 The Archaic State of the Financial Industry 01:18 Introduction to the Modern Financial Advisor Podcast 02:44 Welcoming David Knoch: CEO of Docupace 03:54 The Evolution of Financial Advisory Operations 07:09 Docupace's Vision for the Future 10:41 The Role of Technology in Financial Services 14:19 The Human Element in Financial Planning 21:08 The Importance of Operational Excellence 25:56 Docupace's Growth and Acquisitions 27:03 Convergence of Leadership Perspectives 27:26 Acquisition Strategies and Integration 29:09 Docupace's Collaborative Culture 31:46 Balancing Independence and Integration 35:07 Build vs. Buy Decision-Making 42:42 The Role of AI in Financial Advisory 46:58 Future Vision and AI Implementation 56:14 Conclusion and Final Thoughts

How I Built and Sold My FinTech Startup: Louis Retief of Hubly on The Modern Financial Advisor Podcast In this episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Louis Retief, co-founder of Hubly, for an in-depth conversation about his entrepreneurial journey in the wealth tech industry. Louis shares his experience of founding Hubly right out of college, the challenges and opportunities he encountered, and what it's like to have his company acquired by Docupace. They discuss the importance of efficiency and workflows for advisory firms, the role of operations managers in decision-making, and the ongoing consolidation in the wealth management tech space. Louis also provides insights into how Hubly and PreciseFP are working together post-acquisition and the long-term vision for integrated solutions in financial advisory firms. This episode is a must-watch for anyone interested in fintech, wealth management, and entrepreneurship. Don't miss it! Chapters: 00:00 Introduction to Hubly and Efficient Advisory Firms 00:52 Welcome to the Modern Financial Advisor Podcast 02:12 Louis Retief's Journey and Hubly's Origin 03:12 The Importance of Workflow Automation 17:13 Challenges and Solutions in Financial Advisory Firms 27:20 Understanding the Financial Advisory Market 33:27 Building for the Back Office 34:43 Lessons from Social Wear 36:38 Hubly's Strategic Pivot 37:43 Acquisition by Docupace 39:15 Research and Decision Making 47:00 Post-Acquisition Integration 49:17 Future Vision and Product Development 53:27 Entrepreneurial Insights and Challenges 56:12 Importance of Long-Term Thinking 58:37 Due Diligence in Tech Partnerships 01:02:12 Final Thoughts and Farewell

In this episode of the Modern Financial Advisor Podcast, host Mike Langford engages in a thought-provoking conversation with Steve Lockshin, founder of AdvicePeriod and Vanilla Technologies. Steve shares insights on the shortcomings of the traditional AUM model, the rise of AI in financial advising, and the potential of technology to revolutionize the industry. They discuss estate planning, the importance of serving high net worth clients, and practical applications of AI and tokenization. Steve also opens up about his personal life, including his passion for wake surfing as a morning routine. Join us for a deep dive into the future of financial advising and what advisors should do to stay ahead. Chapters: 00:00 Introduction and Personal Anecdote 01:20 Welcome to the Modern Financial Advisor Podcast 01:25 Guest Introduction: Steve Lockshin 03:00 Morning Routine: Wake Surfing 06:47 The Importance of Estate Planning 13:46 Vanilla: Revolutionizing Estate Planning 20:06 Challenges in the Financial Advisory Industry 26:58 The AUM Model: Pros and Cons 32:42 The Importance of Fee Negotiation 33:25 Client Scenarios and Advisor Conflicts 34:44 Structuring Advisory Fees 35:26 Fee Calculators and Transparency 36:46 Client Shopping Behavior 40:46 AI and Tokenization in Wealth Management 48:33 The Future of Financial Advisory 50:20 Advisors Adapting to Technological Changes 58:03 Final Thoughts and Advice for Advisors

Unlocking Scalable Growth for Financial Advisors with AI In this episode of the Modern Financial Advisor podcast, host Mike Langford is joined by Ian Karnell, who introduces his new company, VastAdvisor, and discusses how it aims to radically transform organic growth for financial advisors and wealth management enterprises. Ian delves into the power of AI in generating predictable, scalable lead generation systems and improving compliance for digital marketing. The episode covers the current state of digital marketing for financial advisors, the challenges, and the groundbreaking solutions VastAdvisor offers. Tune in to discover how AI can drive hyper-growth in the financial industry and make lead generation more efficient and effective. Chapters: 00:00 Introduction to AUM Growth Strategies 00:54 Welcome to the Modern Financial Advisor Podcast 01:00 Introducing VastAdvisor and Its Promises 01:59 Subscribe and Connect with Us 02:29 Conversation with Ian Karnell Begins 03:59 The Evolution of Digital Marketing for Financial Advisors 06:56 Challenges and Opportunities in Lead Generation 14:02 The Role of AI in Modern Marketing 18:51 The Vision Behind VastAdvisor 27:26 How VastAdvisor Enterprise Works 30:51 Building Custom Audiences 31:14 Audience Targeting and Ad Builder 32:44 AI-Powered Compliance 33:57 IQ Dashboards and Reporting 35:01 Firm Growth Insights 35:36 Agentic Framework and Autopilot Mode 36:14 Challenges in Financial Marketing 40:10 Optimizing Ad Spend and Lead Generation 44:00 AI's Role in Advisor Growth 51:37 Next Generation Advisors and Clients 56:29 Conclusion and Final Thoughts

On this episode of the Modern Financial Advisor Podcast, Mike Langford welcomes Kyle Zasky, the new CEO of VRGL, for his first-ever podcast appearance. The two dive deep into why so many advisors struggle with client acquisition and how VRGL’s proposal and analytics platform is designed to change that. Kyle shares candid insights on the emotional hurdles advisors and prospects face, the importance of establishing trust quickly, and why tools that demonstrate value before conversion are the future of advisor growth. They also explore: Why most advisors are stuck in a comfort zone that limits growthThe “organ rejection” risk for new CEOs and how Kyle overcame itHow AI is both exciting and anxiety-inducing for advisorsWhy great advisors are part portfolio strategist, part therapist Whether you’re an advisor looking to sharpen your edge or a wealth management exec planning for scalable growth, this conversation delivers actionable perspective on what it takes to thrive in the modern RIA landscape. Chapters: 00:00 Introduction and Episode Overview 01:19 Guest Introduction: Kyle Zasky 01:52 The Human Element in Financial Advice 03:27 Kyle's Journey to CEO of VRGL 08:20 Building Trust and Rapport 14:15 VRGL's Role in Client Acquisition 24:53 The Psychology of Financial Advising 30:55 Psychology of Financial Advisors 31:56 Addressing the Shortage of Financial Advisors 32:38 Reaching Younger Demographics 33:06 Expanding Financial Services Downstream 36:07 The Role of AI in Financial Advisory 38:50 The Importance of Human Touch in Financial Advisory 40:55 Building a Sustainable Financial Advisory Career 50:02 Navigating the FinTech Landscape 55:24 Future of Financial Advisory 01:00:10 Conclusion and Final Thoughts

Join Mike Langford in this eye-opening episode of the Modern Financial Advisor Podcast as he chats with Dan Zitting, CEO of Nitrogen Wealth, formerly Riskalyze. They discuss the evolving landscape of financial advising, emphasizing the importance of a strong digital presence, the role of AI in enhancing advisor-client interactions, and actionable strategies to tackle slow organic growth in the industry. Dan offers fresh perspectives from his software and tech background, sharing insights on reducing advisor friction, leveraging AI for better client meetings, and the necessity of adapting sales motions for younger generations. Key Themes: The strategy behind Riskalyze’s rebrand to NitrogenUsing Net Promoter Score (NPS) to measure advisor successWhy risk tolerance is more than just age-based assumptionsHow AI and agentic workflows are transforming client meetingsRethinking referrals, sales motion, and digital trust building Don’t miss this engaging conversation on how modern advisors can deliver clarity, confidence, and scalable growth in an ever-evolving landscape. Chapters: 00:00 Understanding Modern Sales Motion 00:43 Introduction to the Podcast 02:14 Conversation with Dan Zitting Begins 03:13 Rebranding from Riskalyze to Nitrogen 06:10 Challenges and Opportunities in Wealth Management 15:48 The Importance of Digital Presence 22:32 Adapting to Changing Client Behaviors 30:53 Injecting Value into Client Conversations 31:47 Understanding Client Risk and Confidence 33:14 The Importance of Advisor-Client Relationships 36:11 Engaging the Next Generation of Clients 38:59 Realistic Risk Communication 48:35 AI and the Future of Financial Advising 53:56 Conclusion and Final Thoughts

In this episode of the Modern Financial Advisor Podcast, Mike Langford is joined by Justin Whitehead, Co-Founder and CEO of Pebble Finance, for a deep dive into one of the most compelling use cases of AI in wealth management. Justin shares how a personal investing misstep in China sparked the idea for Pebble, and how his team is transforming the way advisors communicate portfolio insights with clients. From translating complex data into plain-English narratives to helping advisors deliver family-office-level service at scale, Pebble is redefining what it means to be truly client-centric. If you’ve been eye-rolling at yet another “AI-powered” solution, this one will make you rethink everything. Key themes: Why most portfolio reports fall flat—and how Pebble brings them to lifeHow AI can bridge the ignorance gap and strengthen client trustWhy the future of wealth management will be won at the retail levelThe overlooked power of dynamic, advisor-branded newslettersHow Pebble helps scale personalized conversations—without compliance headaches Whether you’re a financial advisor, wealth exec, or fintech innovator, this conversation is packed with practical insights and big-picture thinking you won’t want to miss. Chapters: 00:00 Introduction and Episode Overview 01:22 Guest Introduction: Justin Whitehead 01:50 The Evolution of Video Conferencing 03:29 AI in Financial Advisory: Pebble Finance 03:52 The Pandemic's Impact on Retail Investing 05:27 Justin's Personal Investment Story 11:25 Challenges in Financial Advisory 12:43 The Role of Technology in Financial Advisory 23:24 Understanding Pebble's Approach 31:30 Exploring Dynamic Newsletters for Advisors 33:29 AI in Financial Advisory: Compliance and Innovation 34:37 Ensuring Data Privacy and Compliance 39:52 Challenges and Strategies for Technology Adoption 52:38 The Future of Wealth Management 01:01:56 Closing Thoughts and Farewell

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

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. 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

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. Chapters: 00:00 Understanding Economic Perceptions 00:45 Introduction to the Podcast 02:12 Guest Introduction: Felipe Toews 03:54 Behavioral Finance 101 07:47 Challenges in Market Timing 14:40 The Importance of Proactive Communication 21:20 Historical Market Analysis 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

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. 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

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. 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

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?” 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

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

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. 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

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. 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

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. 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 Unlocking Freedom: Transitioning Clients to Retirement 46:43 The Future of Healthcare: Insights on the Affordable Care Act

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

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

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

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

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

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. Resources Mentioned In This Episode: How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients - Mykolas Rambus of HushSEC 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

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. Resources Mentioned In This Episode: How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients - Mykolas Rambus of HushReimagining Estate Planning As Helping Clients Make Premade Decisions For Their Loved Ones - Andrew Crowell of D.A. DavidsonWhat 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 DAFI 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

Mykolas Rambus, Co-Founder and CEO of Hush and Mike Langford discuss the scale of a high net worth client's digital footprint and the potential risks associated with it. They also talk about the creation of WealthX, a database of wealthy individuals, and how it led to the development of Hush, a tool that helps individuals protect their online privacy. The conversation covers topics such as cybersecurity, social engineering, and the risks posed by family members. The episode provides valuable insights and action items for financial advisors and their clients. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Related To This Episode: Protecting Your Clients And Your Firm From Financial Fraud - Andrew Crowell of D.A. Davidson shared his perspective on protecting clients from financial fraud.Wealth-X - Mykolas and Mike mentioned Wealth-X multiple times in this episode. Chapters 00:00 Introduction 02:44 The Scale of a High Net Worth Client's Digital Footprint 04:36 The Creation of WealthX and the Development of Hush 08:22 Finding Information and Building Dossiers 11:14 The Need for Hush and Protecting Online Privacy 17:20 Cybersecurity and Awareness for Financial Advisors 21:55 Risks Posed by Family Members and Precautions to Take 25:03 Conclusion and the Importance of Online Privacy 26:03 The Growing Threat of Extortion and Sex Extortion 28:01 The Rise of Sim Swapping and the Importance of Cell Phone Security 31:20 Protecting Personal Information with Hush 45:19 Advisors and Hush: Enhancing Security for High Net Worth Individuals

Larry Nisenson, Chief Commercial Officer at Assured Allies and Mike Langford discusses the need for financial advisors to have conversations about long-term care insurance with their clients. As Mike emphasizes in the episode's intro, the probability of clients needing long-term care is high, and the cost of securing long-term care is also high. Larry and Mike cover statistics on the need for long-term care, the challenges of discussing it with clients, and the importance of planning for long-term care in financial advice. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Resources Mentioned In This Episode: "Is Your Home Ready to Age With You?" - Blog post on the Assured Allies with guidance on the steps your clients may need to take to ensure their house is ready to support their needs in the elder years.Modern Financial Advisor Podcast episode featuring Jay Zigmont of Childfree Wealth.goRIA with InvestmentNews - https://inpartners.investmentnews.com/goria/p/1Zvi Bodie's website. He was my favorite professor at Boston University.Agents.NeverStop.com - This is the site that Larry mentioned you should visit to learn more about Long-Term Care Insurance. Chapters 00:00 The Need for Long-Term Care Insurance 03:45 The High Probability and Cost of Long-Term Care 09:22 Challenges of Discussing Long-Term Care with Clients 12:14 Including Long-Term Care Planning in Financial Advice 20:37 Building Relationships through Long-Term Care Conversations 26:06 Protecting Advisors from Potential Litigation 31:22 Planning for Long-Term Care 32:18 Aging in Place 40:29 Financial Tools for Long-Term Care Planning 49:00 Starting Early: Discussing Long-Term Care Options 52:25 Long-Term Care for Child-Free Clients

Tim Vorhoff, Vice President of CreoValo joins Mike Langford for an exploration of a growth strategy that many financial advisors are ignoring: helping private business owners sell their businesses to unlock their tied-up value. The conversation explores the opportunity for financial advisors to partner with investment banks to assist business owners in selling their companies. They discuss the scale of the opportunity, the average value of small businesses, and the importance of having conversations with business owner clients about their future plans for their businesses. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Chapters 00:00 Introduction: Unlocking Tied-Up Value 02:25 The Opportunity for Financial Advisors 04:21 Partnering with Financial Advisors 09:31 Understanding the Scale of Small Businesses 17:45 The Benefits of Organizing a Competitive Process 23:23 Having Conversations with Business Owner Clients 25:19 Maximizing the Outcome of Selling a Business 35:27 The Importance of Succession Planning 41:34 Building Trust as a Resource for Business Owners

Andrew Crowell, Vice Chairman of Wealth Management at D.A. Davidson returns to the show to explore a new perspective on estate planning: pre-making decisions for heirs and loved ones. Andrew and show host Mike Langford emphasize the importance of having conversations early and often to prevent emotional duress and ensure that family members are aware of the individual's wishes. They also discuss the significance of planning for digital assets, including passwords and online accounts. The conversation highlights the need for clear instructions on how to handle sentimental or private items after someone's passing. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Resources Mentioned In This Episode: Why Financial Advisors Should Teach Financial Literacy - Andrew's first appearance on the Modern Financial Advisor podcast.Protecting Your Clients And Your Firm From Financial Fraud - Andrew's second episode of the Modern Financial Advisor podcast."Life's Key Moments" - This is the D.A. Davidson resource Andrew mentioned toward the end of the episode. Chapters 00:00 Introduction: Improving Sound Quality with PodBox 01:26 A New Perspective on Estate Planning 03:53 Pre-Making Decisions for Heirs 07:06 Avoiding Emotional Duress 09:44 Disposition of Sentimental Items 16:30 Planning for Digital Assets 23:27 Privacy Concerns and Personal Journals 28:12 Having a Partner to Dispose of Sensitive Items 29:09 The Importance of Conversations in Estate Planning 31:37 Challenges Faced by Individuals without Biological Heirs 34:27 The Concept of an Ethical Will 37:19 The Impact of Remarriage on Estate Planning 46:51 Senior Investor Protections and the Complexity of Digital Assets 53:13 The Role of Professional Advice in Estate Planning

Chuck Failla, Founder and CEO of Sovereign Financial Group returns to the Modern Financial Advisor Podcast to share some updates on the goRIA initiative he launched in partnership with InvestmentNews. Chuck also shares his journey of going RIA and the motivation behind creating goRIA as a media outlet to educate advisors about the benefits of the RIA space. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Resources Mentioned In This Episode: Chuck Failla on LinkedIn - https://www.linkedin.com/in/charlesfailla/Sovereign Financial Group - https://www.sovereignadvisorsolutions.com/goRIA with InvestmentNews - https://inpartners.investmentnews.com/goria/p/1Modern Financial Advisor Podcast EP75 - When Chuck was just getting RIA Labs off the ground - https://pod.co/modern-financial-advisor/episode-75-how-to-host-a-successful-online-event-as-a-financial-advisorModern Financial Advisor Podcast EP108 - With Gauthier Vincent of Deloitte where we discuss end-to-end digital transformation of wealth management - https://www.finservmarketing.com/modern-financial-advisor-podcast/exploring-the-end-to-end-digital-transformation-of-wealth-managementJeff Benjamin on LinkedIn - https://www.linkedin.com/in/jeff-benjamin-9427728/AngelSpan - https://angelspan.com/Beautiful AI - https://www.beautiful.ai/presentationsSaifr - https://saifr.ai/ Chapters 00:00 Introduction and The Importance of a High-Quality Microphone Setup 03:27 Educating Advisors about the Benefits of the RIA Space 15:26 Networking and Learning at Conferences 19:07 Integration and Future-Proofing Technology in the RIA Industry 29:22 Choosing the Right RIA Firm 30:18 The Need for Better Training 32:44 Succession Planning and Ownership Transition 38:21 Expanding Services: Advising on Alternative Investments 52:32 The Role of AI in the RIA Industry

Dr. Jay Zigmont, Founder and CEO of Childfree Wealth joins Mike Langford for a fascination conversation about the intricacies of providing comprehensive financial advice to childfree clients. They discuss the significant population of adults who do not have children and the unique needs that are not being met by traditional financial planning methods. They also explore the reasons why people choose to be childfree and the challenges faced by financial advisors in serving this niche. The conversation covers topics such as dying with zero, long-term care planning, estate planning, retirement, and the importance of understanding the goals and desires of childfree clients. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Resources Mentioned In This Episode: Jay Zigmont's Book - "The Childfree Guide to LIfe and Money"The Fixed-Index Annuity with a Health-Activated Income Multiplier - This the annuity Jay mentioned during the show.Long Term Care for Childfree Individuals - An article Jay wrote on the topic.Fidelity Investments (FCAT) study on soloists - "A Family of One: The Ascendance of Solo Households"Jay's guest article on Michael Kitces' blog - "Why Childfree People Require A Unique Financial Planning Process"Rajini Kodialam - Mike mentioned how Rajini urged financial advisors to stop calling women a segment. "Any group that makes up over half of the population cannot be a segment." Chapters 00:00 Introduction to Child-Free Financial Advice 03:45 The Size and Significance of the Child-Free Population 08:07 Understanding the Choice to Be Child-Free 13:25 Dying with Zero: A Different Approach to Financial Planning 15:23 The Life of Child Wealth: Redefining Retirement 27:43 Addressing the Unique Needs of Child-Free Individuals 36:44 Creating Communities and Support Networks 46:25 Challenges and Biases Faced by Child-Free Individuals 53:48 Opportunities for Financial Advisors in the Child-Free Market

Gauthier Vincent (GV), Senior Consulting Partner at Deloitte joins Mike Langford for an exploration of the digital transformation taking place in the wealth management industry. The conversation explores the impact of AI on wealth management, covering topics such as personalizing client experiences, efficiency, data infrastructure, compliance, and the modernization of core wealth platforms. It also delves into the challenges and considerations for wealth management firms in adopting AI and modernizing their tech stack. Sponsored By: PodBox - Help your guest sound as good at GV with a PodBox microphone setup. Resources Mentioned In This Episode: Deloitte Report - "The Digital Wealth Manager Of Today"SkyView 1 - A fiduciary first banking solution for your financial advisory clients.Nitrogen (formerly Riskalyze) - The comprehensive client engagement platform for wealth management firms Chapters 00:00 The Digital Transformation in Wealth Management 11:49 The Urgency for Modernization and Impact of AI 27:17 The Impact of AI on Wealth Management 41:24 Challenges and Considerations in Adopting AI for Wealth Management Firms 49:52 Modernizing the Tech Stack in Wealth Management

Brian Margolis from Productivity Giant joins Mike Langford to discuss the importance of a simple weekly strategy for financial advisors to improve their productivity and achieve their goals. Brian emphasizes the need to focus on the right things and prioritize activities that provide the biggest return on investment. Resources Mentioned In This Episode: Brian's previous episode of the Modern Financial Advisor Podcast way back in 2019.Brian's Book - "The Index Card Business Plan For Sales Pros and Entrepreneurs" Chapters 00:00 Introduction and Background 04:24 The Importance of a Simple Weekly Strategy 09:07 Focusing on the Right Things for Maximum ROI 28:57 Common Pain Points and Symptoms 31:20 Differentiating Between Being Good and Being Successful 39:05 Success Stories and Implementing the Simple Weekly Strategy 45:10 Conclusion

Simon Zais, a senior manager at Egan-Jones Proxy Services, joins Mike Langford on the Modern Financial Advisor Podcast to discuss the importance of "proxy voting as a service" for financial advisors. They explore how proxy voting can help advisors deliver a higher level of service to their clients and align their portfolios with their clients' values and goals. Resources Mentioned In This Episode: MFA Episode featuring Pete Krull of Earthy Equity AdvisorsEngine No. 1 vs Exxon - Simon mentioned this case as an example of proxy voting driving change at a company.Simon's article titled "Hearts, Minds, and Votes: Where Smarter Wealth Managers Win" Chapters 00:00 Introduction: Proxy Voting as a Service 06:03 Aligning Portfolios with Values and Goals 10:22 Proxy Voting and Making an Impact 23:04 The Growing Influence of Retail Votes 23:34 The Growing Influence of Retail Investors in Proxy Voting 26:01 Aligning Proxy Voting with Client Values and Goals 28:18 The Importance of Meaningful Conversations with Clients 31:38 Taking Action on Proxy Voting to Deepen Client Relationships

In this episode of the Modern Financial Advisor podcast, Mike Langford interviews Pete Krull, CEO of Earth Equity Advisors, about sustainable investing. They discuss the importance of sustainable investing for financial advisors and their clients, debunk common myths about sustainable investing, and explore the growth opportunities in the field. Pete and Mike also touch on the role of ESG metrics, the future of the insurance industry in the face of climate change, and the increasing demand for sustainable investing among different generations. Resources Mentioned In This Episode: Earth Equity AdvisorsPete Krull on LinkedInCross Country Race in EV Pickup Trucks - Out of Spec YouTube and Out of Spec Podcast Green Sage Sustainability Portfolio Morgan Stanley Sustainable Signals Report Dollars and Change Podcast and YouTube ChannelBook - Cradle to Cradle DEI Episode of The Modern Financial Advisor Podcast with Laura Gregg Chapters 00:00 The Role of Sustainable Investing for Financial Advisors 03:47 Debunking Myths About Sustainable Investing 12:23 The Future of the Insurance Industry in the Face of Climate Change 25:01 The Increasing Demand for Sustainable Investing Among Different Generations 29:16 Engaging with Clients and Prospects on Sustainable Investing 30:10 Meeting the Needs of Next Gen Investors 32:07 The Growth of Electric Vehicles and Charging Infrastructure 35:19 The Role of Real Estate in Sustainable Investing 43:30 Considering Climate Readiness in Retirement Planning 51:18 Connecting with Influencers in Sustainable Investing

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. Resources Mentioned In This Episode: Elementality Podcast - With Reese Harper and Carl RichardsDentist 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

What if you could expand your client roster by 300% without having to spend a fortune on marketing? This week's guest Beatriz Acevedo and her team at SUMA Wealth discovered a hidden growth gem by serving the Latinx community. It turns out, people in the community tend to bring other clients with them. And as you'll hear Beatriz discuss with Mike Langford, this growth concept is present in many communities. Resources Mentioned In This Episode: How I Built This - Beatriz was a guest on HIBT Lab! with Guy Raz in which she shared more about her journey that led her to starting SUMA Wealth.Is Your Credit Guacaready? - This is a great example of the culturally relevant marketing that the SUMA Wealth team is using to build a community of over a million people. Chapters 00:00 Introduction and Background 03:23 Summa Wealth's Community-First Approach 06:09 The Aha Moment for Summa Wealth 10:18 Understanding the Target Audience 13:40 Learning from Mistakes and Adjusting 22:01 Adapting to Changing Consumer Behavior 25:22 Learning from Younger Generations 26:10 The Value of Different Perspectives 27:06 The Importance of Embracing Change and Learning from Younger Generations 29:03 Transition from TV Producer to FinTech Founder 31:16 Recognizing the Lack of Financial Education in Latino Communities 33:01 The Role of Culture and Community in Fintech 36:00 The Power of Life Experience in Decision-Making 37:26 The Opportunity of Connecting with Younger Generations 43:25 Attracting Non-Latinx Users to Summa Wealth 48:39 Future Plans for Summa Wealth

The lack of robust organic growth for financial advisors' businesses has been a key concern for industry leaders for years. On this episode of the podcast Tom Rieman, CEO and Founding Partner of PracticeI ntel shares what he believes is the key to cracking the code on organic growth for financial advisors. Resources Mentioned In This Episode: Bridging The Gap Podcast - Tom joined Matt Reiner on this podcast recently and we hit on one of the points from that episode to tip off our conversation.Data from PriceMetrix by McKinsey - Mike mentioned the study and an MFA Podcast episode with Kieran Bol.The Augmented Advisor Podcast - James Lee, the former President of the FPA discussed his conviction that "Financial Planner" is the 4th Great Profession.Fidelity Investments 2023 RIA Benchmarking StudySkyView Partners - Their focus on organic growth as a key driver for business valuation.

There are financial advisors working today who are members of the first generation of people to ever call themselves financial advisors. Think about that! On this episode of the show, Matt Reiner returns to nerd out with Mike Langford about some of the exciting innovations that are creating new opportunities for modern financial advisors. Resources Mentioned In This Episode: The Circle - Matt and his team have created a vibrant community to share actionable strategies, weekly, to enhance your life, elevate your business and enrich your client experience."Your Future Self" by Hal Hershfield - Matt recommended this book in the context of understanding our decision making process.Harry Markowitz - The father of modern portfolio theory passed away in 2023. The guy who created the foundation for the models that financial advisors use for managing their clients' assets only recently passed away!When Ideas Have Sex - A TED Talk by Matt Ridley that inspired a fun conversation in this episode.

Andrew Crowell, Vice Chairman of Wealth Management at D.A. Davidson returns to the show to share some eye popping facts about the prevalence of financial fraud. Andrew and Mike Langford also explore what financial advisors can do to protect their clients for becoming victims of fraud and how to help clients recover if they are victimized. Toward the end of the episode Andrew and Mike dive into the mechanisms financial advisors can use to protect their firm from fraudsters. Because like the famous bank robber Willie Sutton said when asked why he robs banks, financial advisors are "where the money is." Resources Mentioned In This Episode: Americans Are Not Adequately Prepared To Detect Or Prevent Financial Fraud - Scroll down about 3/4 of the way down on this page to see the results of the fraud study.Fraud Prevention: A Guide for Senior Investors - This is a helpful guide created by the team at D.A. DavidsonWilly Sutton Rule - https://www.investopedia.com/terms/w/willie-sutton-rule.asp

Dr. Jean Oursler "The Results Queen" explains how our caveman brains often get in the way of our ability to develop our businesses to the fullest. However, simple changes to a financial advisor's approach to his or her business development process can lead to dramatic improvements in a short time. Dr. Jean also shares some personal stories about her journey. She credits investing in herself early, even before her business was achieving real traction, as key lever for her success. Resources Mentioned In This Episode: Caveman Brain - Dr. Jean's company specializes in helping financial advisors get better results in their business development.6 Killer Questions - As Dr. Jean mentioned, this free resource outlines the key questions to ask a "potential client" through your funnel.EOS (The Entrepreneurial Operating System) - A framework for clarifying, simplifying, and achieving your vision."Change Your Question, Change Your Life" by Marilee Adams - Dr. Jean recommended this book as a fantastic tool to learn how to ask better questions.

It may sound hyperbolic but the reality is the advisor who tries to do everything his or herself... is bound to let some important things fall off the table. And as Gina Cotner, CEO of Athena Executive Services explains... it's not just simple "To Do" list items that an advisor might miss. It could be important client updates or opportunities that lead to business growth.

James Beam, President of TD Private Client Wealth breaks down a common challenge that clients of today's financial advisors face... information overload that often results in clients having a distorted picture of what is actually happening in the world. Jim and Mike also explore the potential impact of artificial intelligence (AI) on the modern financial advisor's business and how the use of a goals based advice approach can serve as a foundation for advisors regardless of what future technologies may come their way.

Michael Lecours, CFP® says that the origin story of fpPathfinder, a company he co-founded with Michael Kitces, is a bit humbling. He found that he was routinely forgetting to ask the right questions or giving slightly incorrect answers or missing timely opportunities for recommendations when meeting with his clients. It wasn't that Michael was incompetent or lacking in financial planning skills... he is a Certified Financial Planner with over a decade of experience. It's just that there is so many things that a client might need to know about or do or not do at any given time. And the landscape is constantly changing. So, Michael came up with a simple idea. He made a series of checklists and flowcharts that he would use during client meeting to ensure he "checked all the boxes" and kept things on track. Suddenly, he felt like he was delivering higher quality advice to his clients and he realized he was onto something that other advisors could use with their clients. Resources Mentioned In This Episode: Advice Engagement Strategies: 4 Core Areas To Motivate Clients To Be More Active In The Financial Planning Process - This is a comprehensive blog post written by Michael Lecours and offers some great insight to the thought processes driving the fpPathfinder solution.Roger Pine and his company Holistiplan were mentioned a few times on this episode. Below are links to two podcasts featuring Roger:How to Increase Post-Acquisition Business Value by Adding Tax Planning Services on The Advisor Financial Forum Podcast by SkyView PartnersRoger Pine of Holistiplan on Speeding Up the Tax Planning Process for Financial Advisors on The SoFin Podcast.

Paul McManus, creator of The Short Book Formula and CEO of More Clients More Fun shares how he helps financial advisors write short books to attract their ideal clients. The concept is simple, write a short book that articulates the solution to a specific problem your ideal client is likely to have. Send the book to prospects. Ask them to read it prior to meeting with you. Then, have a productive initial meeting that is likely to result in closing a new client.

Lucas Siegel, CEO of Harbor Life Settlements joins Mike Langford to share how financial advisors can help their clients unlock assets that are lying dormant and unproductive in their life insurance policy. Lucas also shares the simple question to ask your client about their life insurance policy to help them make the best financial decision for their future.