Kitces and Carl - Real Talk for Real Financial Advisors

Client communication expert Carl Richards joins Michael Kitces in discussing the tipping point for financial advisors to shift from constant learning to focusing on providing value. They explore simplification in client services, the challenges of removing unnecessary services, and the importance of surveying clients to understand their needs for client retention.

In our 138th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to optimize your time by identifying what you consistently do—and would love to stop doing. For full show notes, see kitces.com and thesocietyofadvice.com.

Client communication expert Carl Richards joins Michael Kitces to discuss transitioning from saying yes to opportunities to focusing on setting boundaries. They explore efficient task delegation, the evolution of decision-making in financial advising, building confidence as an advisor, and embracing 'I don't know' for personal growth.

Kitces and Carl discuss challenges in internal succession planning for financial advisors, including valuation complexities, buyer and seller approaches, and the importance of fair pricing. They delve into the impact of education and bank financing on buying advisory firms, as well as strategic approaches to gradual internal successions for financial stability.

Michael Kitces and Carl Richards discuss the professional obligation of financial planners to create job opportunities for the next generation. They explore mentorship, succession planning, and the challenges faced by new entrants in securing jobs. The conversation advocates for residency programs and efficient task delegation to enhance job opportunities within the financial planning sector.

Financial experts discuss helping clients who struggle to recognize their financial success and continue to chase more, exploring the importance of understanding client desires and navigating conflicting emotions in financial planning. The episode highlights the delicate balance of work-life priorities and fulfilling client dreams.

Kitces and Carl dive deep into the meaning and value of financial advice beyond monetary gains, exploring self-transcendence, self-actualization, and connecting with clients on a deeper emotional level. They discuss the challenges of marketing these deeper services and emphasize the importance of aligning personal values with professional tasks.

In our 132nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the best way for advisors to get the word out about their services. For full show notes, see kitces.com and thesocietyofadvice.com.

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.