Category Archives: Generational Wealth

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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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