The Perfect RIA

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What do you do if a client puts almost their entire net worth in one stock? Today Matt and Micah answer a question from an advisor who is dealing with this very situation. Listen in as the guys discuss the importance of how you set expectations with your clients and what you need to do in order to navigate more complex situations. You can find show notes and more information by clicking here: https://bit.ly/2HdsjdN

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Sometimes we get wrapped up in wanting to compromise, wanting to negotiate, and wanting to make deals in order to help clients—but what you're really doing is compromising your values. So today, Matt and Micah are discussing why you cannot get caught up in compromising certain things that are actually bringing value to your clients. You will hear them discuss the importance of managing all assets together, as well as how to navigate these tricky conversations with your clients. You can find show notes and more information by clicking here: https://bit.ly/3ilaPJb

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Matthew and Micah are off duty today, and Taylor Schulte is taking over the podcast! After starting his career as a financial advisor at just 22 years old, Taylor now owns his own practice, and he's here to share how he turned his business around through creating processes, hiring a team, and implementing surge meetings. You can find show notes and more information by clicking here: https://bit.ly/32TMmWI

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Very often, it takes failure to learn the necessary lessons—and multiple no's to reach the right yes. Micah and Matthew have both gone through their fair share of failures before achieving success, and in this episode, they are going to outline the key to succeeding in something new and share why it's so important to keep moving forward despite what may seem like a failure. You can find show notes and more information by clicking here: https://bit.ly/3iu9osD

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After sending Nick Murray his business plan to look over back in 2009/2010, Matthew Jarvis was told it was so terrible that he shouldn't waste his time. So in this episode, the guys will be unpacking how this impacted Matt and his future, as well as what you can do to actually improve your practice rather than just play office. You can find show notes and more information by clicking here: https://bit.ly/2EFN9kQ

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What is an absurd advisor fee? After seeing someone on social media critiquing what they consider to be an absurd advisor fee, Matthew and Micah decided to sit down and discuss this exact issue. You or other advisors around you may have a specific number in mind when thinking of what is appropriate to charge for your services, but in this episode, you will hear why it's not about the price—and what you should be focusing on instead. You can find show notes and more information by clicking here: https://bit.ly/3lhDCRM

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We often end up with an emotional connection to our clients, which can make it challenging to part ways with them—even if it's for the best. So today Matt and Micah are discussing how and when to "fire" a client. They'll cover everything from the reasons why advisors struggle to give up clients to various techniques for making a clean cut. You can find show notes and more information by clicking here: https://bit.ly/3kLeqTk

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One of the key components to success in any professional endeavor is setting—and then delivering on—expectations. Far too often, we fall short due to unclear or unrealistic predictions being made by our prospects. So today Matt and Micah are sharing their tips for managing expectations so that when your prospect walks in the meeting room, they know the massive value they are about to receive. You can find show notes and more information by clicking here: https://bit.ly/33b52lD

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Why is the perfect RIA so perfect? Today Matt and Micah will be working on the mindset side of things and sharing how important it is to have your priorities firmly in place in order to succeed. By intentionally using your focus and your energy in certain ways, you will be able to set the bar higher and deliver that massive value to your clients. You can find show notes and more information by clicking here: https://bit.ly/3jCPcWG

Making mistakes is never fun, but unless you can actually walk on water (without it being frozen) you've probably made your fair share. And the truth is, how you handle your mistakes says a lot more about you as a person and a professional than your mistakes do. So in this episode, Matt and Micah discuss how to embrace your mistakes—and become better because of them. You can find show notes and more information by clicking here: https://bit.ly/30AAIOd

What came first: surge meetings or delegation? There's no doubt that surge meetings are at the core of the perfect RIA, but have you ever asked yourself how you could successfully have surge meetings without delegation? Today Matt and Micah are breaking down some of the most common misconceptions about delegation, as well as the top five mistakes advisors make in this area. You can find show notes and more information by clicking here: https://bit.ly/32ealjA

In a recent conversation, it came up that a lifestyle practice is considered synonymous with being a lazy practice. Although it's easy to get defensive, a better idea is to sit down and chat about the difference between what Micah and Matthew consider a lifestyle practice and this other kind of practice that actually is a lazy practice. It's an important thing to think about so we can make sure we are evaluating our practices and goals fairly. You can find show notes and more information by clicking here: https://bit.ly/2VIMUuR

Too many advisors actually underutilize the tax planning services in their practice. So today, Matt and Micah will show you how they go through tax returns for their clients and explain why it is so important to be able to articulate taxes to your clients in a way that they understand. You can find show notes and more information by clicking here: https://bit.ly/3gha2IL

Do you want to be a hero to your clients? If you answered yes to that question, then ask to see their tax returns. One of the biggest expenses in retirement is taxes—and paying more than your fair share does not make you more patriotic. So today Matt and Micah are delving into taxes and breaking down how you can use tax returns to deliver massive value to your clients. You can find show notes and more information by clicking here: https://bit.ly/2Y6hgrj

We've all heard the phrase "dressing for success," but do you really believe that how you dress matters? If your answer is no—or if you're on the fence—then you need to listen to this episode and find out why the way you dress can have a huge effect on your success. You can find show notes and more information by clicking here: https://bit.ly/2M9dVSZ

Hearing rejection time and time again can be a soul-crushing experience. In today's episode, business coach John Barron stops by to share his approach to the sales process that will have you never again questioning whether you're likable or trustworthy—and have you closing more sales. You can find show notes and more information by clicking here: https://bit.ly/2ZqIEmq

When you look at successful people, do you feel malice or anger toward them? Or do you ask yourself what did they do to get themselves to that place? Today Micah and Matthew are discussing jealousy and how to overcome this mental block so that you can achieve the success you deserve. You can find show notes and more information by clicking here: https://bit.ly/2T6JhNN

Is now an advisable time to start surge meetings in the midst of all this COVID-19 craziness? Micah and Matthew recently received this question from a Backstage Pass member, and today they explain their reasoning behind their response to this query, as well as why there is always a good reason to switch to surge. You can find show notes and more information by clicking here: https://bit.ly/2SSx0wx

Today's topic is one that can be a bit of a hot button, but it's something that needs to be discussed: long-term care. In this episode, Matthew and Micah sit down to chat about how you can really help your clients when it comes to making the right long-term care decisions well before it becomes necessary, as well as how to mitigate the risks of retirement and guide clients through the maze of long-term care planning and insurance. You can find show notes and more information by clicking here: https://bit.ly/2SrtRTW

There's a lot of misinformation and confusion circulating right now, and Matthew and Micah are here to set the record straight. They are pretty fired up about this thing called fee compression and how giving valuable advice seems to have gone out the window, so today they're talking about why many people are focusing on the wrong issues and what to focus on instead. You can find show notes and more information by clicking here: https://bit.ly/2Kz56AT

Sitting down with a potential client who is reluctant or doesn't see your value from the start is something that can mess with you if you don't have a plan. So today Matt and Micah will be answering a question they got on this subject and breaking down how to address a situation like this, including how to demonstrate value and ask the right questions. You can find show notes and more information by clicking here: https://bit.ly/2VypE1J

Today Matt and Micah are addressing a topic they receive lots of questions about: income buckets. In light of the current bear market, the guys will share how best to communicate with your clients about their "war chests" throughout the good times and even now, during the current crisis. You can find show notes and more information by clicking here: https://bit.ly/2UUeNAb

Benjamin Brandt is the founder and president of Capital City Wealth Management, as well as the host of Retirement Starts Today Radio. Through his podcast, Benjamin inspires people to be financially independent and properly prepared to retire. Today he joins this podcast to discuss his background and how he started his incredibly successful show. You can find show notes and more information by clicking here: https://bit.ly/2W9B26f

This is a special episode because Coach Joe Lukacs joins the show to discuss how to make sure you're in a good headspace that will allow you to effectively help your family, business, and clients through difficult times. Whether you're an advisor who has been through a recession before or this is your first rodeo, you'll gain some great insights and tips on how to handle unexpected challenges. You can find show notes and more information by clicking here: https://bit.ly/33NSDT0

Having just returned from their mastermind ski trip, Matt and Micah have a ton of inspiration and lessons to share that came out of that experience. For a few years now, they have been hosting a mastermind session with a core group to break through mental barriers and create extreme accountability. There was so much value they were able to bring out of the experience that they're bringing it to the podcast for you to benefit from as well. You can find show notes and more information by clicking here: https://bit.ly/2TwJ99V

When panic starts rolling through, clients become uneasy and more likely to question your plans. So how do we settle their uneasiness and make them feel comfortable with the plans we have set in place for their financial goals? Today Micah and Matthew are talking about global pandemics and sharing tips on how to properly address panic with your clients. You can find show notes and more information by clicking here: https://bit.ly/2VUtUud

Matthew and Micah are big proponents of working with coaches and calling in reinforcements who can truly add value to your work and business. Colleen from Q2 consulting is taking the place of Micah this episode because she has some really helpful insight on building great teams. Matthew and Colleen discuss how business owners should work and particularly how to work with your team. You can find show notes and more information by clicking here: https://bit.ly/32mBezX

Following on the heels of the last episode where Matt and Micah started talking about the prospect meeting and how the lead-up should be handled, today's episode will be continuing where they left off. The guys will discuss what should be happening in that first meeting and what to do after you have vetted a potential client enough to know they are a solid prospect. You can find show notes and more information by clicking here: https://bit.ly/2SFIsvR

Finding the right clients and making sure they are the right fit for your business can be a confusing process. So in this episode, Matt and Micah talk about ways you can set yourself up to receive only the people you can truly serve well. You will also find out what they do personally to vet clients and get through the first prospect meeting with clarity and purpose. You can find show notes and more information by clicking here: https://bit.ly/37lVrqu

Rentals can easily go wrong, and the data you get from other renters and realtors is often questionable. But today, Matt and Micah will share a simple solution that helps everyone make the best, informed decision on whether or not to go forward with the property rental, and they'll shed light on what you need to know about the Secure Act. You can find show notes and more information by clicking here: https://bit.ly/2GVl72k

Many advisors see one thing in particular as more of a nuisance than an opportunity to add value. What thing is that? Required minimum distributions, or RMDs. But the truth is that RMDs are often an overlooked opportunity, and today Matt and Micah will explain why this is one of those little areas where you can potentially deliver massive value. You can find show notes and more information by clicking here: https://bit.ly/2tSqkoO

Advisors get stuck on great ideas all the time. What's so bad about great ideas? Today Matt and Micah are going to share why these so-called "million dollar" ideas are worthless and how to dial into what really matters: implementation. You can find show notes and more information by clicking here: https://bit.ly/375KFFn

Coming off of 2019, when the market has had another phenomenal year, Micah and Matt want to discuss a topic they have not covered much before: investments and "outperforming" the markets. They'll share how you can be prepared for conversations about investments and how to handle it when clients have doubts. You can find show notes and more information by clicking here: https://bit.ly/2FFfUeD

When you are out of the office and you want to unplug, how do you handle distributions? This question comes from a loyal listener and member of the TPR nation, and today Matt and Micah will be sharing the answer. You can find show notes and more information by clicking here: https://bit.ly/2FlZZBN

As we head into 2020, it is important to set goals and challenges for the year ahead. So in this episode, Matt and Micah are going to be setting a challenge for you and explaining what it takes to make it happen. You can find show notes and more information by clicking HERE

Being an RIA owner is not just about numbers—it also has a lot to do with emotions and helping your clients make huge transitions in their lives. So how do you make that deeper connection and help your clients achieve their goals? Matt and Micah break it down in today's episode. You can find show notes and more information by clicking here: https://bit.ly/2rfx6Un

Many business owners seem to be overwhelmed when trying to choose which program they should be doing or which coach they should be using. So in this episode, Micah and Matt are going to be sharing their opinions on this subject and describing the things you need to be looking at to find the perfect program for you and your firm. You can find show notes and more information by clicking here: http://bit.ly/2qQtRCD

The challenge of managing distractions is something that every office and every worker deals with. In fact, on average, workers spend just 2 hours and 48 minutes per day on productive tasks. So today, Matt and Micah will be working through common distractions and ways to handle them to help you ensure you're making the most of your day. You can find show notes and more information by clicking here: https://bit.ly/2qop8aS

As 2020 approaches, it's important to start putting systems in place to ensure a successful year ahead. So in this episode, Matt and Micah sit down to discuss how to be winners with systems—not losers with goals. As provocative as that may sound, it is the mindset you need to adopt in order to succeed. You can find show notes and more information by clicking here: https://bit.ly/366w7on

As the new year approaches, it's easy to leave a lot of valuable lessons on the table by not taking a close look at 2019. So today, Matt and Micah will be discussing the importance of evaluating your past year in order to find out what worked well and what didn't. In short, they're sharing how to evaluate properly by making sure you measure the right stuff. You can find show notes and more information by clicking here: https://bit.ly/2QOuas5