Category Archives: Education

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#95 The $30 Trillion Opportunity: Serving Women Investors Better with Cary Carbonaro, CFP®

Client Experience, Client Experience & Loyalty, Education, Finance, Leadership, Top Advisors, , , , , , , , , , , , , , , , , , , , ,

Most advisors know women will control the majority of wealth by 2030—so why aren’t more of them preparing now?

In this episode, Referral Coach Bill Cates interviews Cary Carbonaro, CFP®, Managing Wealth Advisor and the Women and Wealth Ambassador at Ashton Thomas. Cary explains how the financial industry has historically overlooked female clients and what needs to change to better serve and retain them. She also outlines actionable ways advisors can create more inclusive, client-centered practices that truly resonate with women.

Cary discusses:

  • The reasons most advisors still struggle to connect with women, despite long-standing data showing their rising financial power
  • How traditional practices, language, and analogies often alienate female clients and prospects
  • Why offering separate meetings for women within couples can significantly strengthen advisor-client relationships
  • How behavioral finance tools help advisors build deeper emotional connections and trust with women
  • The importance of changing hiring practices and early outreach to increase female representation in the advisory profession
  • …And more!

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About Cary Carbonaro, CFP®:

Cary Carbonaro is an award-winning Certified Financial Planner professional with 25+ years of experience. She is passionate about increasing financial literacy and empowering women, and is the author of the best-selling wealth management books for women. She is a CFP® Board Ambassador and was appointed to represent the industry in the media. At Ashton Thomas, Cary will provide Private Wealth Management Services and spearhead the establishment of the Women and Wealth leadership initiative. She has spoken internationally on financial literacy for women and endows a scholarship at her alma mater. She also founded the Women’s Giving Alliance and resides in Winter Garden, FL, with her husband.

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#93 – Advising Business Owners Through Their Exit with Scott Bushkie, CBI, M&AMI, CM&AP

Client Experience, Client Experience & Loyalty, communicating your value, Creating Advocates, Education, Finance, Generational Wealth, Leadership, Marketing, Practice Management, Prospecting, Referrals & Introductions, Social Media, Top Advisors, , , , , , , , ,

Selling a business is a monumental decision, filled with considerations that can significantly impact the owner’s future.

How can advisors provide real value beyond investment advice during this crucial transition?

In this episode, Referral Coach Bill Cates interviews Scott Bushkie, CBI, M&AMI, CM&AP, founder of Cornerstone Business Services, about the key steps and considerations involved in selling a business. Scott shares findings from a national study on business owners’ perspectives on their financial advisors during this process. He also provides guidance for advisors looking to assist their clients through a business sale.

Scott discusses: 

  • (06:03) The top reasons business owners switch advisors after selling
  • (08:52) Key proactive moves advisors can make to maintain their client relationships
  • (18:20) The importance of teamwork in selling and enhancing business value
  • (24:29) Why it’s crucial to involve a team and never accept unsolicited offers blindly
  • (30:31) Real-life case studies demonstrating successful business sales and advisor retention
  • …And more!

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About Scott Bushkie:

Scott Bushkie is the Managing Partner and Founder of Cornerstone Business Services. With more than 20 years in the M&A industry, Scott is a recognized leader in the field, providing exit strategies and M&A advisory services to business owners in the lower middle market. He has successfully executed sales to domestic and international buyers, private equity firms, family offices, and strategic buyers.

Scott is the founder and past chair of the Wisconsin chapter of MBBI and also the past chair of the IBBA. In 2014, Scott became the youngest person ever awarded the IBBA prestigious fellow designation. In 2017, Scott was named a fellow of the M&A Source, once again the organization’s youngest recipient. He writes for regional business press, including a monthly syndicated column for Gannett, and has been quoted by the New York Times, the Chicago Tribune, and other news outlets across the country.

In 2018, Scott launched the Cornerstone International Alliance, providing member firms with enhanced buyer reach, access to industry experts, resources, and structured best practice sharing. Operating with the philosophy that success breeds success, the alliance helps top-tier lower-middle-market M&A firms create more value for their clients.

Scott holds the Mergers & Acquisitions Master Intermediary (M&AMI) certification. He is a Certified Business Intermediary and a FINRA registered broker holding securities licenses 62 and 63.

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#92 Connecting Generations Through Financial Literacy with Jeff Panik, CFP®, MSFS, CRPS

Client Experience, Client Experience & Loyalty, communicating your value, Creating Advocates, Education, Finance, Generational Wealth, Leadership, Marketing, Practice Management, Prospecting, Top Advisors, , , , , , , , ,

Building strong financial foundations isn’t just about numbers, it’s about nurturing relationships and leaving a legacy.

How can financial advisors inspire trust and empower the next generation? What role does education play in creating lasting client relationships?

In this episode, Referral Coach Bill Cates interviews Jeff Panik, CFP®, MSFS, CRPS, Principal of Balanced Wealth Partners, about his journey from military service to financial advising. Jeff shares his strategies for fostering financial literacy across generations, leveraging books to educate and connect, and creating balance in clients’ lives.

Jeff discusses:

  • (04:00) His transition from the US Army to becoming a financial advisor
  • (06:13) Using books to engage clients and their children
  • (08:41) Strategies for approaching financial planning as solving a retirement puzzle
  • (24:17) The significance of humility and relationship-building in the financial industry
  • (25:33) Advice for newer advisors on mentorship and navigating the industry 
  • …And more!

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About Jeff Panik:

With almost twenty-five years of experience as a financial advising professional, Jeffrey Panik, MSFS, CFP®, knows that his job is to help clients strike a balance between living well today and planning for the future. Throughout his career, Jeff has worked with hundreds of families, individuals, and small businesses to help them set goals, strategically manage their assets, and work toward achieving their dreams.

The first in his family to attend college, Jeff believes it is imperative to start the discussion of financial literacy early to best prepare for financial success throughout life. Jeff served in the US Army after college, which, as part of his service agreement, paid the student loans he had accrued. He was honorably discharged and began working as a Financial Advisor trainee at a large brokerage firm.

Though Jeff grew up in Southwestern Pennsylvania, he has lived in the Atlanta area for two decades. Jeff and his wife Rebecca currently live in Atlanta, Georgia. When he isn’t working, Jeff enjoys spending time with family, traveling, reading, and all types of sports.

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#91 Standing Out: Niche Marketing for Financial Advisors with Kristen Luke

Client Experience, communicating your value, Creating Advocates, Education, Finance, Generational Wealth, Leadership, Marketing, Practice Management, Prospecting, Referrals & Introductions, Social Media, Speaking, Top Advisors, , , , , , , , ,

In a crowded market, how can financial advisors truly stand out and attract their ideal clients?

What’s the key difference between a target market and a niche, and why does it matter?

In this episode, Referral Coach Bill Cates interviews Kristen Luke, marketing strategist and author of: Uncomparable: The Financial Advisor’s Guide to Standing Out through Niche Marketing.

Kristen shares her insights on the power of niche marketing for financial advisors and RIAs. She also discusses how to define a niche, the importance of speaking the client’s language, and the concept of being “Uncomparable”.

Kristen discusses: 

  • (03:34) The transformative potential of niche marketing
  • (07:16) Differences between target and niche markets
  • (24:32) Real-life impacts of a niche-focused strategy 
  • (29:04) The 6-component framework for niche success 
  • …And more!

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About Kristen Luke:

Marketing is hard for most financial advisors because they all look and sound the same to a prospect. Kristen helps Registered Investment Advisors market themselves to a niche, making it easier for them to stand out from the competition and attract ideal clients.

Kaleido Creative Studio works exclusively with RIAs to build a niche-focused marketing system that produces a consistent flow of ideal prospects; differentiates firms from the competition; and eliminates the need to be the best salesperson or marketer to win clients.

For more than 15 years, Kristen has consulted with hundreds of financial advisory firms and shared her marketing expertise via industry conferences and publications nationwide. Most recently, she has contributed her advice to FPA NorCal, DFA Study Groups, Kitces.com, Top Advisor Podcast, Kitces Office Hours, and Advisor Perspectives.

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#90 Ric Edelman on Growing Your Financial Practice and Trends Reshaping the Advisor World

Client Experience, Client Experience & Loyalty, communicating your value, Creating Advocates, Education, Finance, Generational Wealth, Leadership, Marketing, Practice Management, Prospecting, Referrals & Introductions, Social Media, Speaking, Top Advisors, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

In this episode of Top Advisor Podcast, I sat down with one of the most recognized and influential names in the financial services industry: Ric Edelman. From starting as a new advisor to building the largest RIA in the country, (over $300 Billion in assets managed) Ric’s journey is filled with insights, strategies, and bold thinking that every advisor can learn from.

We dive into what it took to grow a billion-dollar firm, what’s coming with the great generational wealth transfer (his answer might surprise you), and how advisors can remain radically relevant in a rapidly evolving profession. 

Whether you’re early in your career or an industry veteran, Ric’s perspective will challenge and inspire you to think bigger, act bolder, and adapt smarter.

In this episode, Ric shares his journey from angry consumer to industry leader. Ric reveals how financial education and inclusion became the foundation for his firm’s growth, his contrarian views on the wealth transfer, and what advisors should do now to remain relevant and meaningful in clients’ lives.

Ric & Bill Discuss:  

  • How a bad experience with an advisor led him and his wife Jean to build a firm focused on consumer education and accessibility
  • How and why serving the mass affluent can lead to long-term growth and impact
  • His belief that The Great Wealth Transfer may be overstated due to longevity, healthcare costs, and concentrated wealth
  • How financial advisors can stay relevant by helping clients with lifelong learning, career transitions, and life planning
  • Key challenges that younger advisors (and seasoned pros) will need to navigate over the next two decades
  • Ric’s take on relevance — and why staying relevant is non-negotiable in today’s advisory landscape
  • A brief look at Ric’s philanthropic passion project: The Edelman Fossil Park & Museum
  • Why understanding blockchain, crypto, and exponential technologies is essential for advisors aiming to provide complete service
  • …And more!

Bottom line: Ric Edelman shares timeless lessons from his journey — and offers a future-focused take on what advisors must do now to grow, lead, and stay ahead of the curve.

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About Ric Edelman:

Ric Edelman created the CBDA designation, Certified in Blockchain and Digital Assets. He is a #1 New York Times bestselling author of 13 books on personal finance, with more than one million copies in print in ten languages, holds two patents for financial innovation and created one of the most successful ETFs in history. He was ranked three times as the nation’s #1 Independent Financial Advisor by Barron’s and founded the nation’s largest financial planning firm, now serving 1.3 million clients and managing $300 billion in AUM. Edelman is in both Research Magazine’s and Barron’s Financial Advisor Halls of Fame, and recipient of IARFC’s Lifetime Achievement Award. Investment Advisor, RIABiz and InvestmentNews all named him one of the most influential people in the investment management profession.

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#88 The Do’s and Don’ts of Intergenerational Wealth Transfer with Barry Banther, CMD, CSP, CPAE

Client Experience, Client Experience & Loyalty, communicating your value, Creating Advocates, Education, Finance, Generational Wealth, Leadership, Marketing, Top Advisors, , , , , , , ,

When it comes to generational wealth, it’s not just about money; it’s about relationships.  Don’t believe me?  Listen to this interview!!!

In this episode, Referral Coach Bill Cates sits down with Barry Banther, CMC, CSP, CPAE, a seasoned family business advisor with over 30 years of experience helping families navigate the complexities of wealth transfer. Barry shares powerful stories and real-world examples that highlight how advisors can successfully guide clients through the  transfer of wealth, business, and core values across generations.

You’ll hear about the pitfalls and triumphs advisors face and learn actionable strategies for building strong relationships with ultra-wealthy clients and their families

Discover the nuances of wealth transfer, the impact of family dynamics, and key strategies to avoid common pitfalls.

Bill and Barry discuss: 

  • Three real-life examples of how advisors get it right — and wrong — when managing family wealth transfer
  • Uncovering the hidden dynamics in wealth transfer
  • Navigating sibling rivalries and complex family relationships
  • Building trust with the next generation of decision-makers
  • Facilitating productive family meetings without overstepping
  • …And more!

Discover the common mistakes advisors make with ultra-wealthy families and the importance of initiating conversations about legacy planning now, not later.

Barry shares powerful stories and actionable insights, emphasizing the importance of building relationships – and staying relevant –  with the next generation.

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About Barry Banther:

Barry Banther knows lasting leadership. He learned it with over four decades of hands-on experience, first as a leader in a nationwide enterprise and then as the founder and CEO of two professional services firms. He has been the senior consultant on more than 400 engagements to help develop leaders. His clients have included multinational companies as well as mid- to large-sized family-owned businesses across America.

He has also written over 50 leadership development programs used in industries around the world. His latest book, A Leader’s Gift: How to Earn the Right to be Followed, achieved #1 Best Seller status on Amazon on its release day.

This body of work has earned him the highest professional accreditation from the Institute of Management Consultants and the National Speakers Association. It also caught the attention of 3 Governors who appointed him to their administrations to oversee the regulation of private higher education.

As a result of Barry’s leadership and commitment to family-owned businesses, Family First (the parent organization of Super Bowl Winning Coach Tony Dungy’s All Pro Dad initiative) named Barry their Family Ambassador of the Year.

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#86 Become a Million-Dollar-Advisor with Dave Mullen

Client Experience, Client Experience & Loyalty, communicating your value, Creating Advocates, Education, Finance, Leadership, Marketing, Practice Management, Prospecting, Speaking, Top Advisors, , , , , , , , ,

Are you ready to become a million-dollar advisor, or are you already there wanting to push your success further? Discover the core strategies that separate high-performing financial advisors from the rest in our latest episode.

In this episode, Referral Coach Bill Cates interviews Dave Mullen, a veteran in developing top financial advisors, for an engaging discussion. With over 44 years of experience, Dave unravels insights backed by his bestselling books, such as “The Million Dollar Financial Advisor Team.”

Dave discusses: 

  • (05:40) Seven traits of successful advisors, from optimism to time management.
  • (09:31) The importance of client segmentation and how it increases productivity.
  • (15:42) Transitioning from client service to creating a client experience that builds trust.
  • (19:32) Crafting an unforgettable onboarding process for new clients.
  • (24:30) Mastering the art of gaining referrals through a structured, strategic approach.
  • …And more!

With practical advice and proven strategies, this episode is a must-listen for financial advisors aiming for excellence. For more insights and processes, visit Altius Learning and unleash the full potential of your practice.

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About Dave Mullen:

Dave Mullen is Founding Partner & Principal of Altius Learning. Dave retired as a managing director at Merrill Lynch in 2007, where he personally hired, trained, and managed over 500 financial advisors over 27 years. He has worked with over 100 individual million-dollar and multimillion-dollar advisors, including five of Merrill Lynch’s top 30. His responsibilities included, Financial Advisor, Complex Manager, National Sales Manager and Managing Director.

During his management career, Dave was recognized numerous times for being one of Merrill Lynch’s top national managers. While at Merrill Lynch, his advisor training programs had a consistent success rate significantly higher than the industry average.

Dave founded LearnTactix, now called Altius Learning, in 2007 with the objective of creating training and coaching programs that would be career-changing experiences for participating advisors and managers. He is the author of three bestselling books: The Million Dollar Financial Services Practice (one of On Wall Street magazine’s top picks and a Top Five choice by AdvisorOne); The Million Dollar Advisor—Powerful Lessons and Proven Strategies from Top Producers (one of On Wall Street magazine’s top picks); and his new book The Million-Dollar Financial Advisor Team. He has been featured in Investment News and Smart Money magazines.

Dave holds a BA and MBA from the University of Georgia, and has attended the Executive Leadership Program at The Wharton School at University of Pennsylvania. Dave is an avid mountain bike rider and skier. He and his wife Cynthia have 4 children and reside in Denver, CO.

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#85 Helping Clients Sleep Well at Night with Financial Planning with Pamela Sams

Client Experience, Client Experience & Loyalty, communicating your value, Creating Advocates, Education, Finance, Leadership, Marketing, Practice Management, Prospecting, Speaking, Top Advisors, , , , , , , , , , , ,

Does financial security keep you up at night?

In this episode, Referral Coach Bill Cates interviews Pamela Sams, founder of Jackson Sams Wealth Strategies. Discover how Pamela has harnessed the power of having a clear mission and target market to build a thriving community of advocates. With a focus on helping professional women secure their financial future so they can “sleep well at night,” Pamela shares the origin of her unique SWAN (Sleep Well At Night) philosophy. They also explore the journey of financial planning that turns financial “ugly ducklings” into confident “swans” and dig into how behavioral finance plays a pivotal role in guiding clients.

Pamela discusses: 

  • (03:11) Her journey into financial advising
  • (04:52) The inspiration and significance behind the SWAN story
  • (06:08) The process of building a community of advocates
  • (10:11) How behavioral finance benefits her clients
  • (17:03) The dynamics of having family members work in her practice
  • (25:55) Tools like “Unlock Your Money Blocks” and leveraging media for business growth
  • …And more!

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About GUEST:

For 19 years, Pamela has been helping women improve their personal and financial wealth through solid financial life planning. Pamela believes it is important to align your money decisions with what’s important in your life. She knows how to listen, engage in meaningful conversations with her clients to gain a better understanding of what is important to them, their goals and values. Pamela believes that financial planning is about a woman’s values not just their money.

Her education and training enable her to help clients successfully navigate through the myriad of personal and financial decisions they face during their lives. She assists them in working to attain a higher level of financial security through education, understanding and scenario planning. With this knowledge, she develops a customized approach for each client’s planning needs.

Pamela has become a strong voice in the area of personal finance for women. Her knowledge in this area has made her a sought-after speaker. She has been quoted in articles in various financial publications.

Throughout her financial services career, she has acquired several client service and financial planning awards. She has membership in the Million Dollar Roundtable (MDRT). Membership in MDRT is a highly recognized mark of excellence and limited to only the most successful in the financial services profession. This places Pamela among the top professionals in the global life insurance and financial services industry. Pamela was featured in the Women in Wealth section of Fortune Magazine November 2020 issue as a top Wealth Manager in the Washington DC metro area.

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#83 Charging for Financial Planning Services with Steven Kaplan & Ben Skupp

Client Experience, Client Experience & Loyalty, Creating Advocates, Education, Finance, Leadership, Marketing, Practice Management, Prospecting, Speaking, Top Advisors, , , , , , , , , , , , ,

What if you could cut through the noise and offer your clients true value beyond just product performance?

In this episode, Referral Coach Bill Cates interviews co-founders of Holistic Financial Planners Steven Kaplan and Benjamin Skupp about charging for advice. They share their journey into adopting a new financial model that enabled them to work a flexible schedule and still deliver high client value. Throughout the episode, Steven and Ben explain how adopting a fee-based advisory model can foster healthier client relationships and present a sustainable career path for financial advisors.

Ben and Steve discuss: 

  • (03:30) The transition to a fee-based model for financial advice
  • (09:27) The benefits both advisors and clients experience from the fee-for-advice model
  • (13:00) How to propose and execute this model with clients
  • (16:58) How to ensure clients perceive your value beyond product sales
  • (32:03) Tips for advisors interested in shifting their business model and how to find Mindshift financial coaching
  • (36:11) Real-life success stories from advisors who made the switch
  • …And more!

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About Steven Kaplan and Ben Skupp:

Steven M. Kaplan, ChFC®, is a Senior Financial Planner.  He is a graduate of Pennsylvania State University, is series 7, 63, and 66 licensed, and has his Accident and Health Insurance license along with his Property and Casualty Insurance license. At Holistic Financial Planners, Steven is completely dedicated to his client’s financial success.  As a coach and planner, Steven helps clients bring clarity to their current financial picture and holds them accountable to make sure to help them achieve their financial goals.  He is making sure they are living for the present without neglecting the future while being as efficient as possible.

Benjamin Skupp, ChFC® is a Financial Planner. He is a graduate of West Chester University, is Series 7, 63 securities licensed, and has his Life, Accident and Health insurance license. At Holistic Financial Planners, Benjamin is determined to providing his clients comfort and confidence in achieving their lifetime goals through financial coaching and planning. In doing so, his caring and focused approach helps him understand problems from all perspectives and find customized solutions to best serve his clientele.

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#82 Financial Focus for College Athletes: A Winning Game Plan with Jeff Durr

Client Experience, Client Experience & Loyalty, Creating Advocates, Education, Finance, Leadership, Marketing, Practice Management, Prospecting, Speaking, Top Advisors, , , , , , , , ,

Ever wondered how financial advisors can truly connect with niche markets? What if we told you the secret lies in a unique combination of athletics, education, and strategic branding?

In this episode, Referral Coach Bill Cates interviews Jeff Durr from RU Financial Athletic Department, revealing how he’s turning the world of financial planning on its head by focusing on college athletes. Jeff explains his unique “Lighthouse Effect” strategy, which leverages student-athlete commonality to foster long-term trusting relationships. A former college athlete himself, Jeff understands the critical importance of financial literacy among young sports enthusiasts and shares how he’s built a brand that resonates deeply with this audience. This episode dives into the art of relationship building and brand growth through speaking engagements, alongside practical insights into successful LinkedIn strategies and social media presence development.

Jeff discusses: 

  • (05:30) The origins of RU Financial Athletic Department and its mission
  • (07:51) Overcoming misconceptions about young athletes lacking financial worth
  • (10:44) The structure of his team and the Lighthouse Effect marketing
  • (17:14) The role of speaking engagements in building brand awareness and client relationships
  • (19:31) Effective LinkedIn networking techniques
  • …And more!

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About Jeff Durr:

Jeff Durr brings his passion for athletics into the financial advisory industry, drawing from his experience as a college football player at the University of Maine. As the Senior Partner at RU Financial Athletic Department and Senior Vice President and Chief Development Officer at MassMutual, he leads the training and development of financial advisors across the country. Since 1988, Jeff has leveraged his extensive experience in financial services to provide personalized coaching and guidance to both current advisors and college athletes transitioning into financial advisor roles.

Jeff is deeply committed to educating and empowering college athletes by equipping them with financial literacy to make informed decisions upon graduation. He designs tailored programs that help athletes create financial game plans, preparing them to “win” in life after sports. For former athletes, Jeff guides them in building long-term financial strategies and actively recruits them to impact athletic departments and alumni networks across universities nationwide.

His core competencies include business development, mentoring, team building, and specialized financial advising, with a focus on retirement, estate planning, and risk management. Jeff emphasizes the transferable skills athletes bring to the profession, helping them secure necessary licenses, gain hands-on experience, and understand the fundamentals of financial advising. His leadership is centered on trust-building, ethical practices, and continuous learning, fostering a collaborative environment that promotes professional growth and client success. Jeff is passionate about creating a supportive network where former athletes can uplift one another while making a meaningful impact in the financial advisory field.

He holds a BA in Psychology from the University of Maine, where he played college football. Jeff has three children: Sophia, a Rutgers University graduate; Olivia, a Kutztown University graduate; and Jeffrey Jr., who attends Kean University.

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