Category: Finances
122: Implementing A “Family EOS” Approach To Create More Intentional Goals with Isaac Presley

122: Implementing A “Family EOS” Approach To Create More Intentional Goals with Isaac Presley

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Are your clients drifting aimlessly or swimming purposefully towards their financial goals?

The default for clients is to pick goals on autopilot. Goals that have been determined by society, friends, and their upbringing.

In this episode, Isaac Presley shares how he creates the time and space for his clients to create more intentional goals using a “Family EOS” approach.

You’ll Learn: 

  • The “Time Bucketing” exercise to help clients prioritize goals
  • The “Family EOS” approach and how to introduce it to clients
  • Why sending a pre-meeting video leads to better conversations
  • How the environment you’re in can influence your conversations
  • How he connects his screening and intro process to accelerate trust

*To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Resources:

Connect with Brendan Frazier: 

Connect with Isaac Presley: 

About Our Guest: 

Isaac Presley is the CEO of Cordant Wealth Partners. He frequently writes and speaks on investing and industry topics and his work has been seen in Bloomberg, US News, Yahoo Finance, Business Insider, and Wealth Management magazine. He’s been named the top 100 most influential advisors by Investopedia five times. Prior to joining Cordant, he worked in finance for two Fortune 500 companies. He has a Bachelor’s in Finance from Oregon State University, his MBA from Portland State University, and earned the Chartered Financial Analyst designation in 2011.

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Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.

Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.

The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.

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121: A Playbook To Master The Human Side of Advice with Michael Kitces

121: A Playbook To Master The Human Side of Advice with Michael Kitces

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When you want to learn something about financial planning and advice, the ultimate source is Michael Kitces.

Most people know Michael is a spreadsheet-loving, technical wizard.

What most people don’t know is that he also fully believes in the human side.

In this episode, Michael explains the skills and processes advisors need to know on the path to mastering the human side of advice.

You’ll Learn: 

  • What Michael says is the #1 skill for financial advisors
  • The drawbacks to marketing the human side to prospects
  • Why you can’t believe clients when they tell you their goals
  • Why Michael only wears blue shirts (and how many he owns)
  • The method Michael uses to uncover what clients really value
  • Why the 3-year mark changes everything for an advisory business

And more!

*To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Resources:

Connect with Brendan Frazier: 

Connect with Michael Kitces: 

About Our Guest: 

Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, is the Head of Planning Strategy for Buckingham Wealth Partners, a private wealth management firm located in St Louis, Missouri, that oversees approximately $50 billion of client assets. In addition, he is the co-founder of the XY Planning Network, AdvicePay, fpPathfinder, and New Planner Recruiting, former practitioner editor of the Journal of Financial Planning, and the publisher of the e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View through his website www.Kitces.com, dedicated to advancing knowledge in financial planning.

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Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.

 Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.

 The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.

 Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

 RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.

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120: The Three Cornerstones of a Happy And Fulfilling Retirement with Michael Finke

120: The Three Cornerstones of a Happy And Fulfilling Retirement with Michael Finke

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Michael Finke’s research shows that the trifecta of a happy and fulfilling retirement incorporates:

  1. Money
  2. Health
  3. Social Connection

Most financial advisors know the money part.

But how can you incorporate the other health and social connection parts into a financial plan to help your clients live a happy and fulfilling retirement?

Fortunately, Michael Finke is the foremost authority on this topic and shares with us the three cornerstones of a happy and fulfilling retirement and how to incorporate it into your retirement planning work with clients.

You’ll Learn: 

  • The only two places your money can go
  • How to increase your clients’ happiness per dollar spent
  • Why your clients should start taking forced semi-retirements
  • One thing most retirees believe will provide satisfaction but doesn’t
  • The amount of wealth where life satisfaction peaks before falling again
  • The one relationship in your life with the highest correlation to life satisfaction

Resources:

Connect with Brendan Frazier: 

Connect with Michael Finke:

About our Guest: 

Michael Finke, Ph.D., is a Professor of wealth management and Frank M. Engle Distinguished Chair in Economic Security Research at The American College of Financial Services. He is a nationally known researcher in the areas of retirement income planning, retirement spending, life satisfaction, and cognitive aging.  He is a frequent speaker at financial planning conferences and was named one of the 25 most influential people in the field of investment advising in 2020 and 2021 by Investment Advisor Magazine.

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Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.

Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.

The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.

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119: A 3-Step Process for Crafting a Statement of Financial Purpose with Andy Baxley – Part II

119: A 3-Step Process for Crafting a Statement of Financial Purpose with Andy Baxley – Part II

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*This is a continuation of the conversation that started in the previous episode (Episode 118). We highly recommend listening to that episode first!

A statement of financial purpose serves as the mission statement for your client’s financial life.

It acts as the north star for making financial decisions that are in alignment with the things that are truly important in life.

Most advisors love the idea, but they don’t know how to do it.

Fortunately, Andy Baxley created an entire course on it.

And, in this conversation, he reveals the 3-step process he takes his clients through to craft a statement of financial purpose.

You’ll Learn: 

  • The power of helping clients turn vague goals into vivid visions
  • Questions to help clients narrow down what’s most important to them
  • Why you need to help clients separate short-term and long-term goals
  • A framework for turning a statement of financial purpose into tangible goals
  • How to use a statement of financial purpose throughout the planning process

Resources:

Connect with Brendan Frazier: 

Connect with Andy Baxley: 

About Our Guest: 

Andy Baxley, CFP®, CIMA®, CeFT®, is a Sr. Financial Planner at The Planning Center. Andy’s approach to financial planning goes beyond the numbers; it’s about helping the individuals and families he serves achieve clarity, confidence, and a sense of purpose around their money. Ultimately, Andy doesn’t just want his clients to feel financially secure; he wants them to feel empowered to plan with a sense of optimism and possibility.

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Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.

Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.

The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place. 

RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.

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118: A 3-Step Process For Crafting A Statement of Financial Purpose with Andy Baxley – Part I

118: A 3-Step Process For Crafting A Statement of Financial Purpose with Andy Baxley – Part I

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A Statement of Financial Purpose serves as the mission statement for your client’s financial life.

It acts as the north star or lens for making financial decisions to ensure they are aligned with what’s truly most important.

Most advisors love the idea, but they don’t know how to do it.

Fortunately, Andy Baxley created an entire course on it.

And, in this episode, he reveals the 3-step process he takes his clients through to craft a statement of financial purpose.

You’ll Learn:

  • A script to introduce values conversations to long-time clients
  • His favorite question to help guide clients through tough decisions
  • The best time in the onboarding process to have values conversations
  • The powerful story of how a statement of financial purpose changed a client’s life
  • How values conversations have led to a more referable experience for Andy’s practice

*Follow Brendan for insights on mastering the human side of advice:

Twitter

LinkedIn

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109: How To Deliver Advice That Clients Actually Follow

109: How To Deliver Advice That Clients Actually Follow

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If you want your clients to actually follow through on the advice you give, you have to shift your approach.

You have to shift from “Advisor-Driven” to “Client-Inspired” advice.

Client-inspired advice provides the client with control, confidence, and autonomy. When you can provide these three things, it paves the way to behavior change and implementation of advice.

Here’s what you’ll learn:

  • The psychology and research of giving advice
  • The three essential elements of client-inspired advice
  • Questions and scripts on how to deliver client-inspired advice

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Resources:

  • The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals

Connect with Brendan Frazier: 

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108: The Secrets To Communicate With Confidence In Any Situation with Matt Abrahams

108: The Secrets To Communicate With Confidence In Any Situation with Matt Abrahams

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Your success in this profession and the quality of your relationships are directly correlated with your communication skills.

Think about the communication you have with clients and prospects. It’s almost always “spontaneous communication.”  It’s not planned, prepared or scripted. How you respond in these spontaneous situations will oftentimes dictate the outcome of the entire interaction.

Fortunately, Matt Abrahams is the foremost authority on how to be more confident and eloquent in the moment. In this episode, he reveals the secrets to communicating with confidence in any situation.

Here’s what you’ll learn:

  • Why small talk is important and the mistakes to avoid
  • Why you (ironically) have to prepare to be spontaneous
  • Two ways to buy yourself time on the spot before responding
  • The “Pace, Space, and Grace” framework to be a better listener
  • The “What-So What-Now What” structure to use in almost any situation

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Resources:

  • The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals

Connect with Brendan Frazier: 

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107: The Communication Superpower For Creating Authority And Urgency with Sten Morgan

107: The Communication Superpower For Creating Authority And Urgency with Sten Morgan

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Most financial advisors’ meetings are underwhelming.

They typically include a mix of small talk, dialogue, fact-finding, and a less-than-riveting display of numbers and charts.

It’s the main reason why prospects leave your office and don’t respond for months (if ever), despite the fact that they need help. And you knew you could help them. It’s also the main reason that you won’t find clients excited and eager to come to their review meetings.

In this episode, Sten shares how he’s leveraged the power of communication to create a meeting experience where clients leave saying: “That’s different than any meeting I’ve ever had.”

Here’s what you’ll learn:

  • The “Quantify and Multiply” approach to create urgency
  • A formula to answer “What do you do?” in a compelling way
  • The meeting-altering power of whiteboarding (and how to do it)
  • The average things most advisors do that lead to boring meetings
  • Why the “trust gap” is the main thing keeping prospects from moving forward

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Resources:

  • The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals

Connect with Brendan Frazier: 

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106: The Trust Mandate: How To Build High-Trust Relationships With Clients And Prospects with Herman Brodie

106: The Trust Mandate: How To Build High-Trust Relationships With Clients And Prospects with Herman Brodie

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Trust is the foundation of success in financial advice.

You need trust to get prospects to become clients and you need trust to get clients to follow-through and do the things you ask them to do.

Without trust, you have no business. But, if you know how to consistently build trust with both prospects and clients, it will take your relationships AND your business to places very few things can.

Everybody knows how important trust is. But, very few people know the secrets to consistently building high-trust relationships. Fortunately, Herman Brodie does.

Consider this episode the ultimate guide for everything you need to know about trust.

Here’s what you’ll learn:

  • How to continue building trust with long-term clients
  • The only type of trust that serves as a competitive advantage
  • The intangible factors that lead investors to choose asset managers
  • The non-obvious benefits trust has on your clients and your business
  • The “Trust Game:” The role of similarity when it comes to building trust

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Resources:

  • The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals

Connect with Brendan Frazier: 

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105: The Importance of Giving Advice That Sticks with Dr. Moira Somers (Repost)

105: The Importance of Giving Advice That Sticks with Dr. Moira Somers (Repost)

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The perfect plan is rendered useless in the absence of execution.

Or, as Dr. Moira Somers says: “What’s the point of technically proficient advice if the client won’t act on it?”

You would think that providing someone a step-by-step plan to accomplish their goals would be all that’s needed to spur someone into action. But, anyone that works with people and their money knows that simply isn’t the case.

Dr. Moira Somers, author of the book Advice That Sticks, provides a blueprint for improving the “stickiness” of your advice to help create better outcomes for clients.

Here’s what you’ll learn:

  • The most common reason clients fail to follow through on your advice
  • What medical research can teach us about the challenges of implementation
  • A proven method to help get through the friction of the data-gathering process
  • How much responsibility falls on the advice-giver when advice isn’t implemented
  • How improving follow-through benefits your clients, your business, AND your well-being

*This episode originally aired in January 2021.

To sign up for Brendan’s monthly newsletter focused on the human side of advice → Click Here

Resources:

  • The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals

Connect with Brendan Frazier: 

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