Tag Archives: cash flow management

#108 – Maximizing Client & Advisor Outcomes Through Cash Flow Management with David Mozeika

Client Experience & Loyalty, Creating Advocates, Practice Management, Referrals & Introductions, , , , , , , , , , , , , , , , , , ,

The national average savings rate in the U.S. is a dismal 4%. 

If you could help your clients raise that rate as high as 20%, what would that mean to your clients and to your business?

Our featured guest, David Mozeika, is a top-performing financial advisor with over two decades of experience and Forbes recognition, who has revolutionized the way advisors and clients think about money movement.

Rather than relying on traditional budgeting or chasing higher rates of return, David Mozeika advocates for a proactive approach he calls “Income Under Management.”

By rethinking the flow of funds and intercepting income before it hits spending accounts, he’s helped clients and advisors unlock higher rates of saving and investing, leading to long-term financial confidence. David Mozeika also co-founded Currence, a tool designed to support this innovative method and foster a more collaborative, transformative relationship between advisors and their clients.

This is a game-changing approach to holistic financial planning that creates a huge win for your clients and for you!

Here are 3 key takeaways:

  1. Flip the Savings Script: David introduces the concept of “Income Under Management,” emphasizing that traditional budgeting is backward-looking and often ineffective. Instead, by redirecting income into a separate reservoir account before it hits the spending account, clients automatically become better savers; often without conscious effort.
  2. Create Transformative Client Value: Structuring cash flow in this way not only delivers better client results but can also transform relationships. Clients frequently report a sense of confidence and clarity, with some even saying, “You have transformed my life.” This leads to stronger engagement and higher referability.
  3. Business Impact: By helping clients increase their rate of saving and investing (from the national average of ~4% to 20%+), advisors can dramatically grow their own businesses. More client savings translates into more assets to manage. A true win-win!

 

Sponsor: 

 

Connect with David Mozeika & Currence

 

Resources: 

 

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About David Mozeika

David Mozeika has dedicated over 20 years to the financial services industry, consistently ranking in the top 1% of his peers. Recognized as a top advisor by Forbes, David has a proven track record of helping clients manage their cash flow to achieve their financial goals. His innovative approach led to the creation of Currence, a platform designed to change the direction of cash flow and introduce a “speed bump” between income and spending.

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#106 – Unlocking Profitability for You & Your Clients with Mike Michalowicz

Client Experience & Loyalty, Creating Advocates, Life Balance, Practice Management, , , , , , , , , , , , , , , , , , , , , ,

“I actually call myself – lovingly – the angel of death because I was not an angel investor. Yeah, I destroyed businesses and, in the process, wiped myself out financially.”

– Mike Michalowicz

I believe that the message in Mike Michalowicz’ book, Profit First is both elegantly simple and powerful

I’ve adopted most of these strategies over the past 6 months and my business has already become more profitable, and my cash-flow management is clearer and smoother than ever before.

This interview of Mike is going to follow two parallel paths.  As a financial advisor YOU are a business owner AND you probably serve a lot of business owner clients.

This interview will give you ideas to bring more value to your clients, and at the same time help you reflect on the profitability of your own business.

Bill and Mike discuss:

  1. Profit First Mentality:
    Mike shared his personal story of financial reset, revealing how shifting your approach to “profit first” can change everything. Instead of waiting for profit at year-end, set it aside from every transaction – just like you pay yourself first in personal finance.
  2. Behavioral Hacks for Profitability:
    Discover the “small plates” strategy. Just as smaller dinner plates lead to smaller portions, breaking your income into dedicated accounts (profit, owner’s compensation, taxes, OpEx) naturally guides prudent spending.
  3. Why Most Business Owners Struggle:
    Did you know 83% of small businesses are living paycheck to paycheck? The traditional formula – sales minus expenses equals profit – actually sets most up for failure. With Profit First, sales minus profit equals expenses, forcing you to run your business sustainably.
  4. Debt & Profit:
    Think you need to pay off debt before saving profit? Think again – profit is the muscle you need to build to sustainably pay down debt over time.
  5. Owner’s Compensation vs. Profit:
    Mike Michalowicz clarified the crucial distinction: Owner’s compensation is your salary for running the business. Profit is a bonus for taking the risk. Don’t confuse or commingle these!
  6. Holistic Advising:
    Advisors, there’s a massive opportunity in linking business and personal finances for your clients. Don’t leave the business side to the accountant – address both for true financial independence.
  7. Commitment Devices: ! This is Powerful !
    Setting up systems (like hiding your profit in a different bank account) creates “commitment devices” – behavioral nudges that help you stick to your plan, just like leaving your gym shoes on the toilet lid to get moving in the morning.

Whether you’re a solo advisor, own a small business, or even part of a larger firm, Profit First adapts. The sooner you start, the greater the impact.

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