The Elite Financial Advisor Podcast With Sten Morgan

In this episode, Andy interviews Jon Bass, a seasoned financial advisor with 14 years of experience.They dive into the significance of joint work in the financial industry, with Jon attributing much of his success to collaborative efforts, especially when overcoming the credibility gap due to his youth early in his career.Jon emphasizes the evolution of his business towards fee-based planning and offers practical advice for selling planning services. He also shares his passion for risk and tax management, drawing from lessons learned during the 2008 financial crisis. Additionally, Jon highlights the importance of understanding clients' learning styles to improve engagement and the selection of compatible joint work partners. The episode concludes with Jon discussing his favorite tax strategies, the expansion of his team, and the potential implications of estate tax changes and inflation. Want to attend Whiteboard University? Click here to learn more. Click here to purchase your seat at our next How To Charge LIVE event in August.

In today’s episode, Sten and Andy are discussing the profound influence Patrick Lencioni’s book "Getting Naked" has had on their professional development. They explore how being genuine with clients creates a foundation of trust and sets the stage for more meaningful financial planning.They also share insights on how to maintain a professional yet caring relationship with clients, ensuring we don't overstep or over-serve.Sten & Andy emphasize the importance of a humble attitude when managing projects for clients, steering clear of any pompous or self-centered approaches."Getting Naked" isn't your typical business book. It's a story that resonates with real-world challenges and teaches us to be agile and comprehensive in our planning.This episode is all about how embracing vulnerability and focusing on client-centric service can lead to a more successful and satisfying practice. They both agree that this book is worth revisiting every few years.You can order a copy of Patrick Lencioni’s book here.Get six free training videos and a dozen free planning resources at GoBeElite.com.

In today’s episode, we discuss the Elite Assumption mindset.Embrace the Elite AssumptionWe dove deep into the power of the 'Elite Assumption.' It's a game-changer. We're talking about shifting gears from the passive "someone might need us" to the proactive "everyone needs something from us." This mindset is the cornerstone of not just meeting, but exceeding client expectations.Confidence is KeyWe also unpacked the essence of confidence in our line of work. It's not just about feeling good; it's about being a beacon of solutions for our clients. When you pick up the phone or meet a prospective client, remember: you're not just a financial advisor; you're a problem-solver, a value provider, and a financial superhero.Continuous Improvement is Non-negotiableLastly, we touched on the importance of never resting on our laurels. The financial world is ever-evolving, and so should our expertise. It's about staying hungry for knowledge and being the advisor who clients can rely on, no matter the challenge.Get six free training videos and a dozen free planning resources at GoBeElite.com.

Advisor Nelson Wood, from a family legacy in the industry, discusses the value of not giving away planning services for free and the importance of insurance in comprehensive planning conversations. He shares his journey from sales to insurance and financial planning, highlighting the urgency of insurance in financial planning and the significance of asking the right questions to uncover client needs.

Sten and Andy explore the prospecting spectrum and strategies for attracting clients. They examine the typical experience advisors face when seeking new clients and the common pitfalls of the "activity at all costs" mindset. If you've ever felt like you're spinning your wheels without attracting those dream clients, this episode is for you.From Brute Force to Targeted Strategy:They explore the full range of prospecting methods, from the brute force approach (think cold calling en masse) to the more refined targeting strategy. Sten shared why brute force should be a stepping stone, not a destination, and how to evolve your methods to work smarter, not harder.Elite Networking Insights:Ever wondered how to leverage your existing network without feeling like you're using your friends? They talked about that too. Here’s a hint: it's all about adding value and being seen as a professional resource.Targeting the 10%:They also touched on the concept of the 10% group from the "Blue Ocean Strategy." It's about finding those untapped markets where competition is less fierce, and opportunities are ripe for the taking. Think business owners and real estate professionals who might not even know they need your services yet.Content is King:Lastly, they discussed the transition to becoming a content machine. Imagine creating a platform that draws in leads while you sleep – that's the dream, right? They share how to make that a reality.Legacy Investment Planning is hiring. Think you’d be a good fit for the team? Go to StenMorgan.com/apply.

Sten sits down with Eric Kapitulik, a former Marine Corps officer and co-founder of The Program. Listen to this episode to absorb the wealth of knowledge Eric shared. It's not just a conversation; it's a roadmap to becoming a better leader, teammate, and individual.Embracing Challenges: Eric's journey from the military to the consulting world is a testament to the power of resilience. He reminds us that no matter the size of your team or the scope of your challenges, the principles of leadership and discipline are universal.A Must-Read: Eric's book is packed with intensity and invaluable lessons that will leave you inspired.Long-Term Greed vs. Short-Term Gain: One of Eric's golden nuggets of wisdom is to focus on long-term wealth creation, not just for your clients but for yourself—in all aspects of life. This principle has stuck with him since his days in financial services and continues to guide his decisions.The Power of Persistence: Did you know the average prospect engages after eight points of contact, yet most salespeople give up after three? Eric's experience highlights the importance of discipline and the game-changing impact of staying the course.Leadership and Teamwork: Whether you're flying solo or part of a larger organization, the essence of success lies in efficient teamwork and the pursuit of excellence through clear goals and standards.Mindset Matters: They discuss the crucial distinction between 'hard' and 'challenging' and how reframing our mindset towards gratitude can profoundly influence our daily motivation and actions.Launch Your Day with Purpose: Starting your morning with intention can set a positive tone for the entire day. Whether it's exercise, journaling, or another focused activity, make it count.Kindness vs. Niceness in Leadership: Eric and Sten explored the deeper meaning of kindness in leadership—it's not just about being nice, but about pushing each other towards growth and improvement.Eric's website: https://theprogram.org/Legacy Investment Planning is hiring. Think you’d be a good fit for the team? Go to StenMorgan.com/apply.

Co-host Andy Traub sits down with advisor James Graham for this Advisor Stories episode. James shares his journey of nearly a decade in the industry, focusing on the significance of team structure and specialization in financial planning. He discusses his approach to delegating tasks, allowing him to concentrate on client interactions and strategic business planning. James highlights the challenges of balancing personal involvement with the necessity of trusting his team to handle responsibilities. Legacy Investment Planning is hiring. Think you’d be a good fit for the team? Go to StenMorgan.com/apply.

Financial advisor Sten shares insights on hiring, delegation, and managing people in his advisory practice. He discusses prospecting techniques, solving client problems, and recommended books. Sten emphasizes the importance of structured onboarding, distinguishing between abdication and delegation in leadership.

Sten sits down with Mike Jesowshek, a CPA and entrepreneur, to discuss the gap between knowing tax strategies and implementing them.Mike's journey is nothing short of inspiring. From starting his first business at 14 to pioneering a digital accounting firm, he's a testament to where passion and expertise can take you. In their chat, he peeled back the curtain on his transition from online marketing to becoming a tax strategy virtuoso.Mike stressed the importance of the power of simplicity by breaking down complex tax concepts into bite-sized, understandable pieces. Imagine using a Health Savings Account as a retirement tool or the benefits of hiring your children and funding Roth IRAs – these are just a couple of the strategies they dove into.They also tackled the art of communication in the financial advisory world. It's not just about what you say, but how you say it. Advisors need to challenge the status quo, ditch the generic newsletters, and really engage clients with compelling, clear information.Ever heard of hiring your kids but felt too overwhelmed to implement it? You're not alone. We discussed why many business owners know the strategies but don't act on them. It's about giving you the confidence and the nudge to take that next step – and that's where advisors shine.They also discussed the importance of sharing knowledge openly with clients. By not shying away from sharing information, advisors can build trust and provide immense value, showcasing how tailored tax strategies can significantly impact a client's financial health.You can hear more from Mike here:Small Business Tax Savings Podcast: https://www.taxsavingspodcast.com/TaxElm: https://taxelm.com/Legacy Investment Planning is hiring. Think you’d be a good fit for the team? Fill out the Advisor application form here.

In this installment of our Advisor Stories series, Andy interviews advisor Tyler Morris. Tyler peels back the curtain on his professional journey, revealing the pivotal moments and the lessons learned along the way. Here's a sneak peek of what they dove into:Transition Tales: Tyler opens up about his recent shift into the financial advisor role.The Nashville Effect: Discover how a training event in Nashville tuned Tyler's approach to his career and client relationships.Value Beyond Dollars: They tackled the tricky topic of charging for financial advice. Tyler shared his evolved mindset on recognizing the worth of his services and how he communicates this to clients.Advice for Advisors: Are you pondering whether to start charging for your time and ideas? Tyler's reflections and advice could be the nudge you need to make that decision.We’re confident that Tyler's experiences and insights will resonate with you, whether you're in the financial industry or simply interested in the art of value exchange. Interested in working at Legacy Investment Planning? Fill out the Advisor application form here.