The Elite Financial Advisor Podcast With Sten Morgan

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.

In this episode, Sten and Andy explore the importance of creating a great planning proposal. It serves a critical role in setting and managing expectations in business by what you put into your financial planning proposal. They discuss:Setting Expectations: The Heart of Client SatisfactionClear expectations are the cornerstone of a happy client relationship. Ever had a misunderstanding with a client? We've all been there, and it's usually down to unclear expectations. They’re talking about avoiding that pitfall and ensuring your clients are on the same page from day one.Crafting the Perfect ProposalWhat goes into a proposal that not only informs but also impresses? It's not about bombarding clients with data but about crafting a document that's as clear as it is compelling. Sten has some practical tips straight from the conversation that will help you revamp your proposals to make every page count.Look and Feel MatterNever underestimate the power of a well-designed proposal. Sten shares his insights on creating a visually appealing document that aligns with your brand and sets the stage for a great client experience.Focus Without the FluffThey also touch on the art of being thorough without overwhelming your clients. Sten's approach? A robust deep dive into each category without letting clients get bogged down in the minutiae. It's about guiding them, not giving them a menu to order from.Realistic TimelinesSetting realistic timelines is crucial, and they discuss how to communicate the intensity and duration of the engagement right off the bat. It's about managing expectations and creating a process-driven experience that clients can trust.Balancing Compliance and CommunicationLastly, they tackle the tricky balance between meeting compliance requirements and maintaining clear communication. The goal? To separate the onboarding paperwork from the expectation-setting process to ensure clients know exactly what they're signing up for.Get six free training videos and a dozen free planning resources at GoBeElite.com.

Sten and Andy dive into the critical role of setting and managing expectations in business, particularly in client relationships.They discuss the consequences of unmet expectations, such as negative client feedback and job dissatisfaction, and the common issue of failing to verbalize expectations, which can lead to misunderstandings. Through practical examples, they advise on asking open-ended questions to uncover unspoken expectations and stress the importance of clear communication to align with clients.They also touch on the financial advisory industry, suggesting visual tools to clarify service models and the necessity for advisors to proactively manage expectations to avoid resentment and ensure business success.They wrap up with a call for an "expectation audit" within businesses and teams to enhance client satisfaction and relationship outcomes.Get six free training videos and a dozen free planning resources at GoBeElite.com.

Host Andy Traub talks with financial advisor and founder of Financial Staples, Chloe Moore. She shares her insights on connecting with clients, particularly those from minority groups, and her expertise in equity compensation. She discusses her approach to asking reflective questions to guide clients towards better financial decisions and the importance of building a network of professionals, including CPAs and estate planning attorneys, to support clients' diverse needs. The conversation explores the concept of a lifestyle practice, where Chloe aims to balance her business with her ideal life, emphasizing work satisfaction over maximizing income. She advocates for aligning one's core values with career decisions and the possibility of making changes for personal happiness and fulfillment.Connect with Chloe:Website: financialstaples.comLinkedin: linkedin.com/in/chloemoore/Twitter: twitter.com/finstaples  Instagram: instagram.com/financialstaples/Get six free training videos and a dozen free planning resources at GoBeElite.com.

Sten talks with good friend Dr. Josh Axe, a functional medicine practitioner, author, and entrepreneur. Josh shares his personal journey with functional medicine, the expansion of his clinic and online platform, and offers insights on business growth, team dynamics, and the power of communication. Journey into Healing: Josh opens up about his personal voyage into the world of functional medicine. It's a tale of transformation sparked by a family health crisis that reshaped his career and life's mission. Business Growth Unpacked: Ever wonder what it takes to scale a health clinic and launch an online health platform successfully? Josh spills on the strategies that propelled his business forward. Mastering Communication: Whether you're leading a team or just starting out, Josh's experiences in the health and wellness industry reveal the undeniable power of effective communication. Mindset Makeover: Josh shares his wisdom on how to identify and overcome the mental blocks that hold us back. The Why, Who, What, and How: Understanding these four pillars is crucial in any business. Josh emphasizes their significance and how they've shaped his approach to success.Order a copy of his new book, Think This Not That. Follow Dr. Josh Axe:YouTubeInstagramTwitterFacebookTikTokGet six free training videos and a dozen free planning resources at GoBeElite.com.

Referral expert Bill Cates discusses strategies for financial advisors to obtain referrals and manage client relationships effectively. They emphasize the importance of:Setting clear expectationsBeing responsive to client communicationsUnderstanding the lifetime value of a clientBill introduces the concept of "referability" and shares insights from his latest book, "The Language of Referrals," covering topics such as promoting introductions, asking for referrals, and addressing concerns.They highlight the need for authentic, direct communication and the pitfalls of formulaic referral methods. Bill also shares practical advice for advisors to enhance their referral processes and client interactions.Bill Cates is widely recognized as one of the foremost experts in the art and science of acquiring new clients through referrals and personal introductions. He is president of Referral Coach International, founder of The Cates Academy for Relationship Marketing™, and the host of the podcast TopAdvisorPodcast.com. Bill was recently rated as the #1 Financial Advisor Influencer by Indigo Marketing.Bill is also a bestselling author. His books are, Get More Referrals Now, Don’t Keep Me a Secret, Beyond Referrals, Radical Relevance, and his latest book is The Language of Referrals.Free resources for listeners:1. Guides, Checklists, Videos: www.ReferralCoach.com/resources2. New Advisor Relationship Marketing & Prospecting: www.KickStartProspecting.com3. 4 Infographic Guides: www.FearlessReferrals.com4. How I Handle Referrals: www.HowIHandleReferrals.com5. Link to the Book: www.LanguageofReferrals.comGet six free training videos and a dozen free planning resources at GoBeElite.com.

Financial advisor Nate Leo shares his superpower of simplifying financial planning, discussing his journey into the industry, challenges faced, mentorship benefits, and the importance of connecting with clients. They also explore serving diverse demographics, building strategic partnerships, and the value of comprehensive financial planning.

Marketing expert Dave Touhill joins Sten to discuss the importance of targeted marketing for financial advisors. They emphasize building local trust, avoiding generic tactics, and mastering one strategy at a time. Dave criticizes outsourcing without a clear strategy and advises seeking guidance from successful advisors. They stress the value of continuously refining marketing efforts to establish credibility within the community.