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Between Now and Success

We interview top financial advisors and visionary voices to bring you the strategies, tips, and tools you need to make a difference in people's lives. So rope up and get "On Belay" as we climb the summit to success with your host and Chief Belayer, Steve Sanduski.
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Archives
Now displaying: October, 2016
Oct 29, 2016

Shockingly, you might be able to generate more alpha for your clients by helping manage their career than you can from investing or financial planning.

Today's guest, Michael Haubrich, CFP®, created the concept of "career asset management" as a way to help add additional value to his clients using an asset that is typically neglected by financial advisors.

The idea is by helping clients manage their career and earning potential, you can not only help them earn more money, but you can also help them find greater career satisfaction and guide them through a more rewarding retirement.

Oct 20, 2016

How would you answer these three questions about exploring advice?

  1. What is the definition of good advice?
  2. What is the definition of a quality financial plan?
  3. What does it mean to be a fiduciary?

Kevin Knull, the president of PIEtechSM, Inc., (parent company of MoneyGuidePro financial planning software) asked those three questions to an audience of financial and wealth management leaders and basically got blank stares in response.

Dismayed, he decided to reach out to thought leaders and experts around the country to get their answers.

He collected their thoughts and published them in a remarkable new book called, Exploring Advice: What You Need to Know About Good Financial Advice, a Quality Financial Plan and the Role of a Fiduciary.

I was one of the 36 leaders who contributed a chapter to the book.

In today's show, I'm joined by Kevin Knull and two other contributors to the book, Tricia Rothschild, Head of Global Advisor and Wealth Management Solutions for Morningstar, and Frank McAleer, Director, Retirement Solutions for Raymond James.

We discuss these three questions and point the way toward how you can add value in an increasingly commoditized industry.

Oct 14, 2016

Should RIAs offer an automated investing Robo-Advisor service? What are the pros and cons? How should you price the service? Will it cannibalize your existing clients?

In today's show, Tina Powell and I discuss how she launched automated investing Robo-Advisor SheCapital and why they kept it separately branded from the large RIA that she was affiliated with. We also discuss the difficulties in gaining traction with a Robo-Advisor and how that led to her shutting down SheCapital after just about one year in business.

Oct 7, 2016

It appears clients care much less about their advisor's digital technology than advisors do.

The financial services industry spends a lot of time talking about technology and there are thousands of companies around the world and tens of billions of dollars being invested in financial technology or FinTech companies to enhance the digital offering. Yet, when you ask clients of financial advisors how important all this technology is, you get a surprising answer.

In today's show, I discuss a number of digital technology issues including:

  • Recent research which suggests a financial advisor's digital capabilities rank low in terms of the value the client gets from their advisor.
  • The strategy behind offering, or not offering, robo advisor technology.
  • The surprising result of my proprietary research on how many clients one advisor can work with and the real secret behind how to increase that number.
  • The implications of all this emphasis on digital technology and what it means for client satisfaction and referrals.
Oct 1, 2016

I believe financial advisors can add the most value to their clients in the areas of financial and life planning, and not as much in the investment management area. I also understand that you can't forget about the investment side.

In today's conversation, we discuss how to improve your investment performance by overcoming some of the behavioral investing mistakes that are so easy for all of us to make.

My guest is Daniel Crosby, Ph.D. Daniel is a psychologist, a behavioral investing expert, a bestselling author, and president of Nocturne Capital.

Checkout Daniel's new book, The Laws of Wealth: Psychology and the secret to investing success.

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