Kitces and Carl - Real Talk for Real Financial Advisors

The hosts explore the purpose and importance of setting goals, discussing the trade-offs and reflecting on New Year's goals. They delve into navigating a complex adaptive environment and taking the next best step. The power and importance of setting goals are emphasized, along with the flexibility of goals. The hosts share their personal journeys with goal-setting and contrast their perspectives, discussing the motivations behind setting goals.

The podcast explores the tension between helping clients and getting paid well as a financial advisor. It discusses the importance of aligning wealth with values and attracting more profitable clients for greater happiness. The concept of the 'barbell approach' in balancing affluent clients and limited means is explored, highlighting the need for setting boundaries. Additionally, the importance of creating high-value products and getting paid what you're worth is emphasized.

In our 129th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the results of their recent study on advisor well-being. For full show notes, see kitces.com and thesocietyofadvice.com.

In our 128th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss a key difference in perspective when it comes to spending money. For full show notes, see kitces.com and thesocietyofadvice.com.

In our 127th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss Carl's exciting new project. For full show notes, see kitces.com and thesocietyofadvice.com.

The podcast focuses on whether it is better to increase productivity or fees, exploring the concept of revenue per advisor and the potential for fee increase. It also delves into the struggles faced by authors and financial advisors, and the power of challenging negative narratives and unraveling past experiences.

In this episode, Michael Kitces and Carl Richards discuss the challenges and misconceptions of scaling a business, and the importance of leveraging systems and processes. They explore the possibility of scaling a business without hiring more staff, and highlight the success of large financial firms with a scalable business model. They also discuss the importance of advisors and generating revenue in a scalable business.

The hosts discuss the dilemma of clients evolving out of their niche specialization and whether to follow them or find new clients. They explore the importance of niche selection and framing discussions in terms of underlying principles. They also address concerns about client retention and maintaining the client-advisor relationship. The speakers discuss how financial advisors choose their niche specialization and the pros and cons of focusing on existing clients versus serving a specific niche. They also explore the mindset of saying yes to a specific niche and the fear of missing out on other opportunities. They discuss the challenges financial advisors face when clients evolve out of their niche specialization and the impact of scarcity mindset on decision-making. They emphasize the importance of following clients on their journey and serving existing clients well.

In our 123rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether all advisors choosing a niche results in some potential clients being left out of receiving financial advice. For full show notes, see kitces.com and thesocietyofadvice.com.

Michael Kitces and client communication expert Carl Richards discuss guiding clients' non-sensible decisions, aligning values with capital, tragic cases of late financial help, navigating client permission and decision challenging, and the role of emotions in financial advice.