Barron's Advisor

Ashley Adamson, an Emmy-winning sports broadcaster, and Yogi Roth, a Big Ten Network analyst, dive into the essence of connection in storytelling and team dynamics. They share personal narratives that shaped their careers and discuss how vulnerability fosters loyalty and engagement within teams. The duo emphasizes balancing ambition with gratitude while reflecting on the power of storytelling to enhance relationships. Their insights highlight how shared experiences and understanding one’s narrative can empower individuals in both personal and professional spheres.

Gina Thompson, Senior Vice President and Portfolio Director at RBC, emphasizes the importance of empowering clients through financial literacy and personalized plans. She discusses addressing client fears about financial stability and running out of money. Gina highlights navigating financial planning amidst inflation and interest rate changes while advocating for diverse income sources. She also covers the significance of setting clear expectations and effective communication with clients, alongside strategies for managing investments during market volatility.

Daniel Crosby, Chief Behavioral Officer at Orion Advisor Solutions and author of 'The Soul of Wealth', dives into the emotional landscape of finance. He discusses how fear and bias influence clients' decisions and offers strategies to build rapport. Crosby highlights the role of 'useful delusions' in aligning investments with clients' emotional needs. He also examines the impact of social media on mental health and financial well-being, urging mindful consumption. Finally, he reflects on bridging material wealth with true personal significance, shifting the focus from accumulation to meaningful relationships.

Max Lane, CEO of Flourish, is on a mission to revolutionize wealth management. He shares insights on the evolution from product-focused advising to the emerging Wealth 3.0, emphasizing the need for advisors to meet millennial clients' tech-savvy expectations. Max discusses how generative AI can enhance client engagement through personalized financial planning. He also suggests strategies for boosting organic growth, like improving lending capabilities and modernizing outdated annuities, while underscoring the importance of data integration in enhancing advisor-client relationships.

Kevin Casey, Managing Director at Pathstone, dives into the intricate world of mergers and acquisitions, detailing his firm’s strategy for both inorganic and organic growth. He dispels common myths around business valuations and emphasizes the role of internal capabilities in achieving success. Casey discusses how to integrate diverse services to meet complex client needs and offers insights on career advancement within the advisory industry, highlighting the importance of mentorship and industry trends shaping the future.

David DeVoe, Founder and CEO of DeVoe & Company, shares his expert insights on maximizing valuations for RIA firms. He discusses the booming M&A activity and how private equity is shaping the industry. DeVoe highlights the importance of emotional and strategic factors when considering a sale, alongside effective marketing strategies that show the true value of financial advisors. He explains key valuation factors like growth and profitability, and emphasizes the necessity of clear career paths for employee engagement and retention.

Raj Bhatia, a seasoned Private Wealth Advisor at Merrill, shares his insights on hiring family in the wealth management sector. He discusses his experience of bringing his daughter into the firm, emphasizing the importance of succession planning and client relationships. Raj delves into the complexities and benefits of employing family members, balancing professional boundaries with familial familiarity. He narrates personal anecdotes, reflecting on how open conversations can ease transitions and foster successful dynamics in family-operated businesses.

Kaden Bernstein, a financial advisor at Morgan Stanley with over $1.5 billion in assets under management, shares his unique journey into finance. He emphasizes the importance of knowing your limits and avoiding burnout, all while fostering connections with supportive peers. Bernstein discusses the emotional challenges new advisors face, particularly during market volatility, and the essential role of clear communication in client relations. His insights offer valuable guidance for those transitioning into the financial sector.

In this engaging discussion, Peter Wilken, a global brand strategist and author, shares his expertise in branding, backed by his work with giants like Coca-Cola and Disney. He dives into the biggest branding mistakes financial advisors make and emphasizes the importance of emotional connections in client relationships. Wilken also offers strategies for smaller firms to carve out their identities, discussing the power of clear communication and impactful messaging. He highlights how bold branding can significantly enhance market positioning, especially in the competitive finance landscape.

Joe McLean, Managing Partner at MAI Capital Management and former professional basketball player, shares his unique journey from the court to finance. He discusses how his athletic background helps him guide clients, particularly athletes, through financial challenges. McLean emphasizes the need for effective money management, especially in light of the short careers in sports. He touches on the importance of mentorship, the impact of NIL deals, and the critical role of financial literacy in navigating wealth.