Ep 353: Driving Growth By Setting A Clear Vision Of What You Do Best In Your Business(es) With Brett Danko
Oct 3, 2023
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Brett Danko, Founder of Brett Danko Educational Center and CEO of Main Street Financial Solutions, discusses his unique approach to CFP exam preparation and insights into his firm's innovative structure. He shares his personal journey from job loss to renewed purpose, highlighting the importance of delegation, mentorship, and self-awareness in building a fulfilling career.
Brett Danko Education Center offers a comprehensive fast track program for industry professionals seeking Certified Financial Planner (CFP) certification.
Main Street Financial Solutions operates as a platform for advisors, allowing them to own their own clients, design their fee schedules, and manage their portfolio models.
Brett Danko and his team prioritize comprehensive financial planning over investment management, providing personalized and holistic advice to clients throughout their lives.
Main Street Financial Solutions empowers advisors by fostering a client-centric approach, providing support in various areas such as compliance, technology, and practice management.
Brett Danko Education Center offers a comprehensive fast track program for industry professionals seeking Certified Financial Planner (CFP) certification. The program spans just 7 months and provides live virtual or in-person exam prep reviews. The focus is on passing the exam and gaining the CFP designation, with a recognition that there is no CFP cum laude. The program incorporates Brett Danko's experience in teaching and his passion for helping students achieve their goals. The classes are fast-paced, immersive, and intended for motivated individuals who are already in the industry.
Main Street Financial Solutions: Independent RIA and Platform for Advisors
Main Street Financial Solutions is an independent Registered Investment Advisor (RIA) that oversees a significant amount of assets under management for nearly 1,700 client households. The firm operates as a platform for advisors, where each advisor is an independent W2 employee, owning their own clients, designing their fee schedules, and managing their portfolio models. Main Street Financial Solutions provides support in terms of staff, overhead, and technology, allowing advisors to focus on serving their clients with the flexibility to teach or pursue other interests. Brett Danko Education Center CEO Brett Danko is also involved in the RIA, ensuring his continued experience as a practicing advisor.
The Passion for Teaching and the Importance of Financial Planning
Brett Danko's passion for teaching has been instrumental in building the successful CFP exam prep program and the Main Street Financial Solutions RIA. He believes in the value of financial planning and its impact on clients' lives. The focus is on comprehensive planning, addressing each client's unique goals and circumstances. The firm's approach prioritizes planning over investment management, allowing advisors to provide personalized and holistic advice. Brett Danko and his team understand that financial planning is an ongoing journey, and they strive to assist clients throughout their lives to achieve their goals.
The Importance of Client-Centric Approach and Continuing Education
Main Street Financial Solutions emphasizes a client-centric approach, prioritizing clients' best interests. Advisors are encouraged to pursue continuing education and professional growth, ensuring they stay up-to-date with the latest industry knowledge and regulations. The firm fosters a collaborative environment, allowing advisors to network, share ideas, and learn from each other. By providing support in various areas, such as compliance, technology, and practice management, Main Street Financial Solutions empowers advisors to focus on delivering exceptional service to their clients.
Building a Successful Firm with a Great Team
The podcast episode discusses the importance of having a strong team and emphasizes the value of working together. The guest speaker highlights the significance of surrounding oneself with trustworthy and capable individuals who share the same goals and values. They share personal experiences of building a successful firm and emphasize the importance of teamwork, communication, and mutual support. The guest speaker also talks about the challenges faced in managing a large team, maintaining work-life balance, and the importance of effective leadership and collaboration.
Overcoming Challenges and Learning from Failures
The episode delves into the challenges and failures experienced in the journey of building successful businesses. The guest speaker shares their personal lows and describes a period of extreme self-doubt and depression. They discuss the importance of maintaining self-belief, resilience, and the ability to bounce back from failures. The speaker highlights the value of seeking support from mentors and therapists, and the importance of continuously learning, adapting, and evolving. They emphasize the need to persist through difficult times and remain committed to personal and professional growth.
Defining Success: Personal and Professional Perspectives
The podcast episode explores the concept of success and how it can be defined in both personal and professional contexts. The speaker discusses the importance of personal relationships, empathy, and values in defining personal success. Professionally, they focus on building a business that positively impacts clients and colleagues, contributing to a better world. The speaker shares their own measure of financial success, emphasizing the freedom and satisfaction of not needing to take required minimum distributions (RMDs). They conclude by encouraging listeners to strive for personal growth, positive impact, and leaving a lasting legacy.
Brett Danko is the Founder of Brett Danko Educational Center, a CFP Board Education and Exam Prep Provider, and the CEO and Managing Partner for Main Street Financial Solutions, an independent RIA based out of Pennsylvania that oversees nearly $2 billion in assets under management for 1,700 households. Brett stands out for combining his love for teaching with financial expertise, creating one of the nation's leading CFP exam prep programs and growing his own RIA to $2 billion in AUM.
Listen in as he shares his unique approach to CFP exam preparation, as well as insights into his hourly financial planning model and the innovative structure of his firm—which empowers advisors to own their client relationships and design their own fee schedules. You'll also hear about his personal journey from job loss and depression to renewed purpose, highlighting the importance of delegation, mentorship, and self-awareness in building a fulfilling career.
