The Elite Financial Advisor Podcast With Sten Morgan

Learn about the Investment Decision Filter, a tool that helps clients make well-informed decisions. Discover the importance of using concepts and strategies during client meetings. Explore the significance of simplifying financial concepts for clients. Understand the role of fees in investment decisions. Emphasize the value of time and focusing on great opportunities.

Those who communicate clearly, win. In this episode we discuss the Power of Simplicity: It's not about fancy words or complex illustrations, but making information relevant and understandable. How to Level Up Your Communication Skills: We highlight the need for advisors to invest in their communication skills. It's about creating an experience, explaining concepts clearly, and leaving clients with a deep understanding that stays with them forever. What does great communication look like? Simple Visual Meaningful Visual communication Communicate authority Create energy Offer engagement Increase understanding Storytelling - Your Secret Weapon: We explore the power of personal stories and examples in building trust and creating a vision for clients. Just like a comedian refines their jokes, advisors can refine their storytelling skills to deliver a natural and impactful message. Remember, anyone can become a great communicator with practice and dedication. It’s those who master their craft who will win in this business. Don't forget to tune into our live online trainings for more insights and tips. You can find our next training at https://stenmorgan.com/webinar And as always, thank you for being a part of our podcast community.  

In this podcast episode, Sten and Andy reflect on their recent trip to Las Vegas and share some humorous stories. They then delve into a discussion about the difference between achievement and success, emphasizing the importance of constantly striving for growth and not becoming complacent. They highlight the industry's definition of success as a potential hindrance to advisors reaching their full potential. They encourage listeners to seek outside perspective, challenge the status quo, and identify what may be holding them back. They also discuss the importance of surrounding oneself with the right people, hiring help, and focusing on specific tasks to excel as an advisor.  

http://www.StenMorgan.com/Webinar - Sign up for Sten’s webinar on Communication That Converts. He’s holding two on October 12th at 9 am and 2 pm CT. Ever caught yourself questioning traditional practices? Sten did, especially when it came to asking for referrals. Just asking for names felt awkward and ineffective. His solution? Adding value first. Let's put ourselves in our client's shoes - wouldn't you want to see the value before referring someone you've just met? This episode gives you an outline for asking for referrals and getting them.  

Today, we talk through the challenges and benefits of hiring. Hiring is not an expense, it’s an investment in your business. So, why wait for the perfect financial situation? You must embrace the power of hiring sooner to experience increased productivity and success. This is how Elite advisors become ELITE! You may need a mindset shift to prioritize hiring and the importance of setting high standards and finding the right people to work with you. There are common hesitations and misconceptions about hiring, such as viewing it as an expense rather than an investment. We’ll teach you how to hire for soft skills, company culture, and evaluating candidates during a 90-day probation period.  

In this week's episode we invited three advisors who had recently attended our How To Charge LIVE event into the studio. You can hear their reactions to the event and also what they're going to do when they get home to implement what they learned. We’ve already sold 25% of the seats for January’s event, so get yours today at http://www.HowToChargeLive.com.

In this week’s episode, we discuss common unhealthy phrases and beliefs that advisors often have. They emphasize the importance of overcoming these barriers to become Elite advisors. The conversation covers topics such as feeling alienated in the office, lack of confidence in hiring, the importance of leadership and humility, overcoming age or inexperience limitations, the pitfalls of buying a book of business or hiring solely for connections, and the importance of strategic hiring and seeking external evaluation. Sten encourages listeners to be effective leaders, overcome limiting beliefs, and avoid unhealthy shortcuts in their pursuit of success.  

Financial advisor Matt Reiner and AI expert discuss the importance of embracing innovation in the advisory industry. They explore the concept of 'lazy man's utopia' and the need for advisors to become more innovative and efficient. They also discuss the power of content creation and how technology has allowed advisors to build personal relationships with a wider audience. The podcast delves into the practical steps advisors can take to start using ChatGPT and overcome objections to adopting new practices. They also highlight the potential of AI tools in various areas.

Registration for January’s How To Charge LIVE event is 20% sold so get your ticket below before they are sold out. http://www.HowToChargeLive.com The Balance of Custom and Scalable: We explored the myth that personal touch is lost when a business scales. It's possible to maintain an outstanding client experience while growing a successful business. The key lies in building systems that can handle increased demand without relying on temporary fixes. The Power of Scalable Systems: You can build scalable systems if you define who you serve and how you serve them. The Role of Personnel in Scaling: Adding team members should be a multiplier for your business. As you grow your team, delegate tasks and create space for higher-quality actions. Remember, each new hire should ideally bring your company a 5 to 10 times return on investment. The Importance of Clarity and Accountability: Many advisors need help with quantifying the value of their advice. By clarifying your practice and the value you deliver, you can right-size your practice, cut out unnecessary tasks, and scale. Surround yourself with coaches and advisors who are better than you to course correct and think differently. The Mindset of Possibility: Adopt a mindset of possibility and learn from others who have successfully scaled their businesses. Even if your firm generates $400,000 a year and feels busy, it may only be two hires away from becoming a $2 million firm.

I'm thrilled to share with you some insights from my recent podcast episode with Brad Johnson, founder of Triad Partners. Brad's journey from a small-town boy to a successful financial advisor and now coach to advisors is worth learning about. https://triadpartners.comhttps://bradleyjohnson.com In our chat, Brad shared his transition from the corporate world to finance, a field he found himself deeply passionate about. His fascination with stocks led him to get into this business, and later he took a leap of faith and embarked on an entrepreneurial journey with Triad Community Coaching.   Brad's mission with Triad Partners is to create a community of growth-minded individuals. He aims to help financial advisors not only succeed in their businesses but also find balance in their lives. He believes in building businesses that bless lives, a philosophy that we share.  One of the most intriguing parts of our conversation was about the "head trash" and challenges that people face in the finance industry. Brad shared a powerful story about a successful financial advisor who ended up burnt out due to the constant pursuit of success. This story serves as a reminder that true success is not about working harder and longer but about working smarter. Brad also shared Triad's unique "advisor in charge model," a three-phase framework that evolves from a task-driven approach to a responsibility-driven one, eventually leading to a true CEO mindset. This model emphasizes empowering team members and letting them take ownership of the thinking process. We also discussed the different stages of being a business owner in the financial advisory industry. The journey from being an employee to a business owner is filled with challenges and learning experiences. But it also comes with freedom and flexibility. Brad highlighted the value of coaching and learning from others who have walked the path before you. Mindset, according to Brad, is a crucial factor in separating successful advisors from those who are still struggling. He encourages advisors to embrace the journey, commit to the work, and be prepared for the challenges that come with being a business owner. I know that embracing discomfort and challenges is a sign of progress. I've also learned the importance of surrounding oneself with knowledgeable people who can offer valuable insights. Brad and I agree that mindset is the foundation for success. Whether it's in sports or entrepreneurship, a positive mindset can make a world of difference. So, surround yourself with people who inspire growth and improvement. I hope you find these insights as enlightening as I did.  To your success   Sten J. Morgan, CFP®, ChFC®