The Elite Financial Advisor Podcast With Sten Morgan

Now open for all podcast listeners at no cost: http://www.EANcommunity.comWatch us LIVE as we record future episodesMeet other advisors who listen to the showSubmit questions for us to cover in future episodesIn this episode, we discuss the critical role of team building in scaling a financial advisory business. Sten shares his journey and the transformative impact of hiring key roles like a relationship manager, paraplanner, and junior advisor to delegate tasks and concentrate on client value and business growth. We explore the mindset shift needed for advisors to embrace hiring, the progression of learning business management, and the importance of cultural fit and setting clear expectations. The episode emphasizes advisors' need to recognize their strengths, build a supportive team, and work within their superpowers for sustained success and scalability.

Find out more about the estate planning software Steve Lockshin helped create -  https://www.JustVanilla.com/Today we had an enlightening conversation with Steve Lockshin, a seasoned financial advisor with a wealth of knowledge and experience.Steve's journey into the financial advisory industry is a testament to the power of seizing opportunities. His unpaid internship at was a stepping stone that led him to fall in love with the financial services industry. His story is a reminder that sometimes, the best opportunities are the ones you create. The Power of Mentorship: Steve credits his success to the invaluable lessons he learned from his mentors. He emphasizes the importance of seeking out mentors and actively contributing to the relationship. His advice? Be curious, constantly improve your knowledge, and don't be afraid to ask for help.Standing Out in the Crowd: In an industry where many advisors echo the same advice, Steve stresses the need to differentiate oneself. He shares his own evolution from diversifying investments to focusing on performance reporting, taxes, and financial planning. His secret? Add value to your clients and stand out from the crowd.Transparent Fees and Trust: Steve advocates for a transparent fixed fee model, moving away from the traditional assets under management (AUM) model. He believes that this approach allows advisors to focus on delivering value rather than just increasing AUM.Estate Planning for All: Steve argues that estate planning isn't just for the ultra-affluent. He believes that advisors should cover the foundational components of a client's relationship, such as family, money, and loved ones.The Power of Technology: Steve introduces us to Vanilla, a software that helps financial advisors streamline their practice and provide value to their clients. It simplifies complex data and delivers concise, actionable information, bridging the gap between overwhelming data and decision-making.Find out more about the estate planning software Steve Lockshin helped create -  https://www.JustVanilla.com/

In 2024, you’ll have more chances than ever to connect with other advisors, learn how to become an Elite Advisor, and grow your business. Here’s what you can expect from us in 2024.Sten will release a book dedicated to helping you improve your prospectingWe’ll be traveling to more firms to teach our How To Charge LIVE WorkshopsWe’re hosting How To Charge LIVE Workshops at our offices four times We’re going to increase the number of episodes of this showWe’re inviting a select group of advisors to our How To Charge 2.0 WorkshopWe’ve hired a new full-time coach to help develop advisors in our communityWe’re launching a unique platform to house our courses, podcasts, community resources, and a place for advisor collaboration.We’re opening two tiers to our EAN community. EAN and EAN+To join our new free community go to http://www.EANcommunity.com

I'm thrilled to share some exciting insights from my recent podcast episode, where I discussed the art of client relationships with Dave Resseguie.Dave shares his transition from working with a major financial planning firm to launching his own company. It’s common that two-thirds of total revenue comes from the top 20% of clients. It's all about focusing on those who bring the most value to your business.Giftology: Dave has learned the importance of showing appreciation to those who've helped build client relationships. Inspired by John Ruhlin's book, he adopted the practice of reinvesting 10% of the financial value of a relationship back into it through thoughtful gifting or other forms of appreciation.From sending a simple thank you note to recording short selfie videos, showing gratitude can significantly impact client relationships.Building Deep Relationships: Dave has found success in not only investing in my clients but also their families and inner circles. It's about valuing the person for who they are, detached from any business outcomes.Dave addresses the common mindset about limitations that prevent advisors from implementing specific appreciation strategies. There are always solutions, such as making charitable contributions on behalf of clients or working with consultants.I hope these insights spark your curiosity and entice you to listen to the full podcast episode. It's packed with practical advice, unique perspectives, and intriguing ideas that I believe will be beneficial to you.Stay tuned for more!Sten J. Morgan, CFP®, ChFC®

Today we explore the concept of breaking out of the 'average' mold and embracing personal transformation.The Power of Reading: We discussed the transformative impact of daily reading. It's a simple habit with profound effects, expanding our knowledge and perspectives. Why not start with a recommended book list?Habits as Appointments: We acknowledged the struggle of maintaining habits, but emphasized their importance. Treat them like appointments in your schedule, and watch them become ingrained over time.Sharing Your Journey: We believe in the power of community. Sharing your challenges and goals with others can increase your chances of success and accountability. Don't hide your aspirations!Extreme Accountability: We explored the idea of using accountability and even punishment as motivators. However, we cautioned against the trap of constantly generating new ideas without follow-through.Disrupting Routines: We stressed the importance of being aware of our routines and disrupting those that don't serve us. For example, mindlessly using a phone can be replaced with more productive habits.Designing Your Environment: We discussed the benefits of physical movement in unlocking new thinking and the importance of designing our environment to support our goals.Expanding Your Circle: We emphasized the need to attend events and workshops outside of your comfort zone, initiate new friendships, and audit your circle of influence. Surround yourself with people who inspire and uplift you.Hiring to Grow: We discussed the practicality of hiring someone to help grow your business. It's a big step, but with the right planning and support, it can free up your time and generate income.Pursuing Discomfort: We explored the idea of seeking discomfort as a means of personal growth. It's about pushing your boundaries, not reckless behavior.Remember, small changes can lead to significant growth and success. 

Today we dive deep into the book "Atomic Habits" and its application to your life as an advisor.We know that the most important part of building habits is to make them obvious. It's not just about what you want to achieve, but how you plan to get there. Time and Location Matter: We explore the role of time and location in forming new habits. It's not just about setting a goal, but also about creating a specific time and place to make it happen. This is known as implementation intention, and it's a game-changer.Habit Stacking: We also talk about the concept of habit stacking - attaching a new habit to an existing one. For example, placing a book on your bed after making it can be a trigger for a new habit of reading. It's about making space in your life for new habits and prioritizing them.Prospecting as a Habit: We discuss how advisors can build a healthy habit around prospecting. Setting aside time for prospecting and using that time to learn, question methods and dream about new ideas.Accountability and Commitment: We emphasize the importance of accountability and commitment. Protecting the time set aside for prospecting, seeking outside help, and being open to feedback are all crucial for success.Are You Ready for Change?: Are you willing to make the necessary changes and seek outside help to achieve your goals? It's about taking the harder path and committing to improve, rather than settling for average results.

We have five tickets left for our next How To Charge LIVE workshop. Get yours at:http://www.HowToChargeLive.comWe’re revisiting a popular topic today. Head trash is the pesky limiting beliefs and negative thoughts that hold us back. We all have them, but their intensity and impact vary. They're often formed by external influences and personal experiences, and they can be as subtle as a belief about money or as intense as a scarcity mentality.In our conversation, we shared personal examples of our own head trash and how it can sometimes feel embarrassing. But here's the thing - recognizing and addressing our head trash is crucial. It's about being open to the possibility that some of our beliefs may be holding us back.We also discussed how environmental factors can contribute to head trash. Ever walked into a room and been overwhelmed by the scent of air fresheners? That's a bit like how some people try to mask or distract themselves from their head trash instead of confronting it head-on.The good news? Head trash can be managed and changed over time. It's about being open to feedback, embracing discomfort, and surrounding ourselves with people who provide honest perspectives. It's about not tolerating negative beliefs or behaviors and seeking help when needed.One of the most powerful ways to tackle head trash is to quantify its impact. How is it limiting your potential? How is it hindering your personal and professional growth? By putting a number to it, we can realize the importance of addressing it.Remember, successful people are aware of their head trash and have clarity in their decisions. Addressing head trash can be challenging, but taking the first steps towards clarity is crucial. It's like going to the gym - it may be difficult at first, but the results are worth it.I encourage you to listen to our podcast episode and reflect on your own head trash. Share it with others who may benefit from it. Let's start the conversation and help each other grow.Until next time, keep pushing forward!To your success, Stenhttp://www.HowToChargeLive.com

If you really want to add six-figures of revenue to your company then you need to attend our How To Charge LIVE workshop.Get the BEST deal we've ever offered by visiting: http://www.HowToChargeLive.comToday we explore time management that will help you achieve 10X goals. Specifically the three kinds of days you should plan out; Focus, Buffer and Free days.The Journey of Prioritization: I shared my personal journey of learning to prioritize high-value activities over sheer volume. It's a shift from survival mode to strategic thinking, and it's been a game-changer for my business.The Busyness Paradox: We explored the intriguing phenomenon of people who seem to thrive on busyness, questioning where it comes from and why people are addicted to it.Three Kinds of Time: We introduced the concept of focus time, buffer days, and free days. Sten shares how he focuses his time on innovating and making his company less dependent on him.The Power of Deep Work: We discussed the importance of setting aside dedicated time blocks for deep work, free from interruptions. It's about being intentional and focused to achieve higher quality results.The Importance of Rest: We delved into the essential role of rest in our lives, challenging the notion that nonstop work is a badge of honor. Rest is not just about relaxation, it's about sparking creativity and achieving optimal growth.Planning for the Future: Sten shared his approach to planning and scheduling tasks for the upcoming year, emphasizing the need to block out time for key priorities and rest.Idleness: We concluded by highlighting the importance of rest and relaxation, comparing it to the importance of vitamin D for the body. Resting regularly improves the quality of deep work and allows for growth and longevity.Let's embrace the three kinds of days we need to build at 10X business. We need to rest, prioritize effectively, and make the most of our time.To your success,Sten J. Morgan, CFP®, ChFC®

We still have a special running for anyone who buys their seat for January’s How To Charge LIVE event. Learn the details at: http://www.HowToChargeLive.com Today we dive into we look into what it takes to level up your leadership as you work towards 10X goals. Level 1: Rugged individualist, doing everything yourself. Level 2: Manager who has recruited a team around you. Level 3: Leader who has extracted yourself fully from operations, with leaders in place to run everything, leaving you to focus on innovation in your Unique Ability and 10X yourself. Level 4: Leader who has built a business where everyone, at all levels, is empowered to refine their scope continually to focus on their Unique Ability. As a result, the whole team is working on 10Xing themselves.

Save $1500 if you attend our January 2024 How To Charge LIVE event. Until November 10th, 2023 you get the How To Charge For Your Advice online program FREE (a $1500 value) when you purchase a ticket to the January in-person event. http://www.HowToChargeLive.com This week we start a three part series where we dive into a book that has significantly influenced our approach to business - 10x Is Easier Than 2x: How World-Class Entrepreneurs Achieve More by Doing Less. This book isn't just about business; it's about challenging our beliefs, questioning the status quo, and embracing change for exponential growth. Here are some key takeaways from our discussion: The Power of Ten X Thinking: This concept is about breaking and rebuilding systems for better results. It's not just about working harder; it's about working smarter and tapping into something that allows us to achieve more with less effort. The Importance of Reading: We discussed the challenge of readers leading and leaders reading. Reading can be a struggle, but it's crucial for growth and innovation. The "Who Not How" Approach: The book emphasizes the importance of having a team to achieve greater results. It's not about being the smartest or the strongest; it's about leveraging the strengths of others to achieve your goals. Embracing Change and Discomfort: Change can be uncomfortable, but it's necessary for growth. We need to step out of our comfort zones, think big, and challenge our business practices. The Value of Time: Time should be measured based on its future worth, not its current value. We need to focus on tasks that align with our strengths and cut out unnecessary activities. The Concept of a Superpower: We all have a unique ability or superpower. Identifying and leveraging this superpower can shift our mindset and help us be more selective in our pursuits. I hope these insights spark your curiosity and inspire you to think differently. If you're intrigued, I invite you to listen to the full podcast episode. It's packed with more insights, personal experiences, and practical tips to help you embrace "10X" thinking. To your success, Sten J. Morgan, CFP®, ChFC®