Tag Archives: Target Market

Episode #74 How Target Markets and Work-Life Balance Drive Client Growth with Chad Hufford

Education, Finance, Leadership, Marketing, Prospecting, Speaking, Top Advisors, , , , , , , , , , , , , , , , , , , , ,

If you think work-life balance is hard to achieve, you’re probably right.

With that said, THIS advisor has done it. His path to success is amazing!

The strategic decisions he made early in his career have allowed him to build a practice and a life that many aspire to.

In this episode, Referral Coach Bill Cates interviews Chad Hufford, owner of Veritas Wealth Management and bestselling author of “Forging Financial Freedom,” to discover how he built a successful financial practice that prioritizes both high achievement and personal freedom through work-life balance.

Chad reveals the critical early decisions that shaped his business, the importance of having a specific target market, and his unique approach to client responsiveness.

Bill and Chad discuss: 

  • How Chad established work-life balance as a priority at the beginning of his career and made some hard choices to fully live out his vision.
  • The importance of a well-defined target market for achieving exponential growth.
  • Chad’s unique perspective on being responsive to clients without being constantly available. (You will probably envy what he’s created here.)
  • The role of podcasting in Chad’s marketing strategy, and his plans for future growth.
  • …And more!

Resources: 

Connect With Bill Cates:

Connect With Chad Hufford:

About Chad Hufford:

Born and raised in Anchorage, Alaska, Chad grew up in the financial industry, learning under his father, Steve. Chad graduated from the University of Alaska, and seeing the great need for holistic financial advice and coaching, he opened his own financial service practice in 2007 in Anchorage, Alaska, and now serves clients and their families across the US.

He founded Veritas in 2014 as he continued to expand his team and services. Soon after Veritas opened its doors, Chad began his relationship with Ramsey Solutions as Dave Ramsey’s SmartVestor Pro and is the longest-tenured Ramsey SVP in Alaska.

With a strong background in athletics, Chad brings a coaching mindset and the heart of a teacher to financial planning and investing as he strives to both empower and educate his clients on their journeys to financial freedom and independence.

Chad and his wife, Tiffany (also a life-long Alaskan), have been blessed with six wonderful children. Tiffany stays busy homeschooling the kids, and the whole family is very involved in their church and local community.

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Episode #73 3 Strategies for Success: Referrals, Target Marketing, and Celebrating Advocates with Yohance Harrison BFA™, CRPC®

Education, Finance, Leadership, Marketing, Prospecting, Speaking, Top Advisors, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Yohance Harrison has hit the trifecta for success. He’s focused on a clear and profitable target market. He’s getting a ton of right-fit referrals. And he’s identified and nurturing his advocates in a fun way.

He’s also become a master at bringing financial education to clients who think they already know it all. 

In this episode, Referral Coach Bill Cates interviews Yohance Harrison, Founder and CEO of Money Script Wealth Management, PLLC, about the journey from financial illiteracy to financial empowerment. Yohance shares his methods for educating clients, the importance of targeting a specific market, and his powerful approach to generating referrals by nurturing client relationships. 

You’ll learn actionable strategies for increasing client engagement and multiplying referrals by fostering strong connections and delivering compelling value.

Bill and Yohance discuss: 

  • Yohance’s transition from a financially troubled upbringing to a thriving financial advisor.
  • Insights into the behavioral finance concepts that shape client decisions, and how to address them.
  • How he shows his highly educated clients that they are financially illiterate.
  • The importance of a defined target market and methods to effectively serve it – including joining their associations.
  • Yohance’s successful “Kings and Queens” referral strategy and how to nurture and celebrate top advocates.
  • …And more!

 

Resources: 

Connect With Bill Cates:

Connect With Yohance Harrison:

 

About Yohance Harrison:

Yohance Harrison is the Founder and CEO of Money Script Wealth Management, PLLC, he began his financial services career 25 years ago in Charlotte, NC. In 2004 he moved to Los Angeles to manage an office of advisors for a Fortune 500 firm. After a decade in corporate America, he departed from his leadership role to pursue his entrepreneurial desire to start his own firm. Yohance is passionate about financial literacy and provides financial education courses for colleges and organizations across the United States. He currently resides in Dallas, TX with his wife Alicia and their two children. Yohance holds a Series 65 & 66 Securities License, is a Chartered Retirement Planning Counselor (CRPC®), and is a Behavioral Financial Advisor (BFA™). He also holds multiple board positions for other organizations across the country. Yohance is a contributor & speaker to the American College of Emergency Physicians, CV Roman Society, and is an SAEM Industry Advisory Council Member.

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Episode #69 Growth Through Books and Financial Advisor Target Markets with Michael Budnick

Education, Finance, Leadership, Marketing, Prospecting, Speaking, Top Advisors, , , , , , , , , , , , , , , , , , , , , , , , , , , ,

When it comes to financial advisor target markets, one proven strategy to create extraordinary success in your business is to be crystal clear and laser focused on your Right-Fit Clients™.

That’s exactly what our guest has done to build his successful advisory practice.  

And one tool he uses to demonstrate his focus, credibility, and wisdom is a book – a book written specifically for his target market.

Michael Budnick, International Bestselling Author and Holistic Financial Planner, exemplifies this approach, targeting a specific demographic with tailored services and thought leadership. 

In this episode, Michael shares his unique story and lessons learned in building his business. He demonstrates the importance and value of focusing on a specific target market, and the role of his books in attracting new clients.

Bill & Michael Discuss:

  • Michael’s transition from corporate work to establishing Budnick Wealth Management, specializing in retirement planning and college tuition advising
  • The creation of his books, including The Prosperous Nurse, and how they serve as tools for credibility and client acquisition.
  • His strategic focus on nurses as a target market due to their caring nature and the practical business opportunities they present.
  • The benefits of having a clear financial advisor target market, such as becoming an opinion leader and creating more effective client communication.
  • The various methods he uses to promote his books and attract new clients, including LinkedIn campaigns, book signings, and leveraging client advocates.
  • …And more!

 

Resources: 

Connect With Bill Cates:

Connect With Michael Budnick:

 

About Michael Budnick:

Michael Budnick is a holistic fiduciary investment adviser with Royal Fund Management. Michael has specialized in investment and retirement planning for over 25 years. His mission is to help his clients define how they want to live their retirement, and then help them realize those goals by creating a retirement strategy that is unique to them.

Previously, Michael served as Vice President for Great-West Retirement Plan Services, at that time a $41.5 billion institution. Michael managed and supervised all the company’s account executives and administrative staff in his Houston, St. Louis, and Oklahoma City offices. His leadership brought about an expansion of $1.2 billion of new assets under management for the firm. As a result, a new 16th region was created to better serve the expanded client base. These new clients included the Cities of Houston and Austin and the State of Oklahoma. As VP, Michael was responsible for the high-level management of $2.2 billion in assets and 55,000 plan participants.

In addition to helping people plan for retirement, Michael also focuses on preparing for the costs of college. As the founder of College Tuition Advisors, Michael works with students and parents to create a strategic plan for paying for college without jeopardizing their future. His goal is to ensure that every family can provide higher education for their children without endangering their finances or future retirement goals.

Michael holds life and health insurance licenses in Texas and California and has passed the Series 65 securities exam. He also has been a College Financial Planner for over 10 years and a licensed real estate agent.

Michael enjoyed a wide range of exciting hobbies, including hiking, roller and ice skating, snow and water skiing, football, horseback riding, mountain biking, and travel. These adventures are all being put on hold for the next few years, as Michael’s free time has been fully absorbed in learning a completely new set of skills: that of being a parent, with his partner Andrea, of their wonderful baby girl, Sarah Michele, born January 14th, 2019.

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Episode #66 Strategies for Attracting, Converting, and Accelerating Client Relationships with Tony Maree Torrey

Education, Finance, Leadership, Marketing, Prospecting, Speaking, Top Advisors, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Tired of blending into the crowd? Discover the strategies that will help you forge solid client relationships and become a standout financial advisor.

In this episode, Referral Coach Bill Cates interviews Tony Maree Torrey, author of Your Million Dollar Accelerator: Six Proven Strategies to Grow a 7-Figure Financial Practice, and Business Coach for Financial Professionals, to explore strategies to help financial advisors grow their practices. Tony shares her six core strategies for attracting, converting, and accelerating client relationships.

Bill and Tony emphasize the importance of clarity in targeting the right market, establishing expert authority, and leveraging networks. 

Bill and Tony discuss: 

  • The aspiration of financial professionals to achieve a seven-figure practice.
  • The 6 core strategies to help financial professionals build client relationships that are covered in Tony’s book.
  • The challenge of standing out in a crowded marketplace, and the need for financial professionals to be seen as thought leaders and trusted experts.
  • The value of producing a book so as to establish authority and expert status.
  • Examples of clients who benefited from implementing Tony’s strategies.
  • The benefits that come from focusing on a niche market.
  • …And more!

 

Resources: 

Connect With Bill Cates:

Connect With Tony Maree Torrey:

 

About Tony Maree Torrey:

For 20 years, Tony Maree Torrey has been hired by Financial Professionals, Founding CEOs, celebrities, athletes, and other top performers who want to make a difference for themselves, their businesses, and the future. 

With the power of traditional coaching and psychology, evidence-based, advanced modalities, and smart business strategies clients learn to win from within, activate their highest impact, and expand personal fulfillment.

  • Clients have generated multiple 7-figures
  • Fast-tracked or turned-around businesses
  • Built real estate empires from scratch
  • Written best-selling books
  • Landed TV and movie roles
  • Launched professional speaking careers…

Australian-born, she arrived in the US in 1989 with nothing but a backpack. Tony Maree climbed the corporate ladder to lead global teams and a $25 M product portfolio. A chronic overachiever, she was simultaneously investing in real estate, building an executive coaching practice, and juggling a busy family life.

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Episode #59 Strategic LinkedIn Prospecting for Financial Advisors with Armando (Mando) Sallavanti III, CFP®, CLTC®

Education, Finance, Leadership, Marketing, Prospecting, Speaking, Top Advisors, , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Are you producing results with LinkedIn? Or do you wonder why you even have an account?

I’ve run into very few advisors who are seeing a straight line to ROI with their activities on LinkedIn.

Mando Sallavanti is clearly an exception!

Effective LinkedIn prospecting for financial advisors requires more than just creating a profile and posting content. It also requires a strategic approach to engaging with your target audience, building relationships, and converting prospects into clients.

In this episode, Referral Coach Bill Cates interviews Armando (Mando) Sallavanti III, CFP®, CLTC®, SaaS’s Financial Planner. Mando shares his journey to success as a financial advisor using LinkedIn. Mando emphasizes the power of authenticity and active engagement on the platform, making 70 comments per day to attract potential clients. (Say what?) And he focuses on creating conversations and building relationships by engaging with influencers in his target market.

Bill and Mando discuss:

● His experience of pursuing his natural market, hiring a marketing agency, and using automation on LinkedIn, which didn’t yield results.
● His decision to shift how he approaches LinkedIn prospecting for financial advisors, and how he discovered his target market in the tech sector.
● The importance of using real-life scenarios and examples in content to make it relatable and resonate with the intended target audience.
● The strategy of making a high number of comments on LinkedIn as a prospecting method to generate opportunities.
● How LinkedIn’s algorithm rewards commenting activity and the importance of striking up conversations with others on the platform.
● Tips on identifying influencers within his target market.
● …And more!

Resources:

● RapidFire Referrals
● Ep. #49 – LinkedIn for Financial Advisors: Insider Strategies for Getting Your Posts Seen with Richard Bliss

Connect With Bill Cates:

● BillCates@referralcoach.com
● Referral Coach Homepage
● Hire Bill for Coaching
● Enroll in The Cates Academy™

Connect With Mando Sallavanti III:

● LinkedIn: Mando Sallavanti III
● asallavanti@financialguide.com

About Mando Sallavanti III:
Mando Sallavanti III is a Certified Financial Planner (CFP) based out of MassMutual Greater Philadelphia. Mando made a mark as the youngest-ever Blue Chip Council qualifier in the company’s history in 2021. His notable accolades include securing titles such as “Rookie of the Year” and “New Advisor of the Year” in 2021. With a primary focus on serving individuals in the Tech sales or SaaS sectors, Mando has skillfully leveraged LinkedIn as a pivotal tool in his professional journey, boasting an impressive following of over 19,000 individuals.

Armando Sallavanti is a registered representative of and offers securities and investment advisory services through MML Investors Services, LLC. Member SIPC. Supervisory Office: 2 Bala Plaza, Ste 901, Bala Cynwyd, PA 19004. Tel: 610.766.3000. Sallavanti Financial Services Co. is not a subsidiary or affiliate of MML Investors Services, LLC. or its affiliated companies. MassMutual refers to Massachusetts Mutual Life Insurance Company (Springfield, MA 01111-0001)

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Episode #51 Creating Interesting, Edgy, and Authentic Content Marketing for Financial Advisors That Turns Prospects into Clients with David B. Armstrong, CFA

Education, Finance, Marketing, Speaking, Uncategorized, , , , , , , , , , , , , , , , , , , , , , , ,

This is an interview you don’t want to miss.

David Armstrong, CFA has found a way to message his value and attract new clients who are perfect for his business.

He does it in a genuine, compelling, and slightly fun way. 

In this episode, Referral Coach Bill Cates interviews David Armstrong, President & Co-Founder of Monument Wealth Management. They explore the importance of finding the right fit with clients and the value of clear and compelling messaging. They talk about the role of differentiation in the financial industry and the benefits of content marketing for financial advisors.  

Bill and Dave discuss: 

  • The importance of differentiation and how to convey that to prospective clients.
  • Why losing a client can be a “gift” to the firm.
  • The powerful crossroads where Digital Marketing & Referrals come together to produce a flow of ideal clients.
  • How Dave and his team incorporate humor into their website and marketing materials to create an authentic and relatable brand.
  • Dave’s decision to bring dogs to the office, the positive response from clients, and the impact on the firm’s culture and branding.
  • How Dave’s outspoken “critic” of the financial services industry has become a magnet for great clients.
  • Reasons for starting a podcast as a means to better communicate important information and connect with clients.
  • How the right content marketing for financial advisors can be used to generate a clear and tangible ROI.
  • …And more!

Resources: 

Connect With Bill Cates:

Connect With Dave Armstrng:

About our guest:

Dave Armstrong discovered his passion for finance in his mid-20s. Unable to spend money over several different deployments while serving in the Marine Corps, he became a self-taught investor. He proudly remembers his investing performance to be, “Along with a few bucks of cash income as a bouncer, good enough to pay for a graduate degree, a new car, and two years of living expenses.”

After returning home from active duty for an MBA at his alma mater, the University of South Carolina, Dave became a CFA Charterholder and started working at a large Wall Street firm in New York City. After 8 years, it became abundantly clear to Dave that the financial services industry was drowning in a sea of sameness. He felt that true wealth planning either didn’t exist or was nothing more than a smokescreen to generate a generic asset allocation and sell products. Creativity was nonexistent, the culture was focused on shareholder profits first, and advisors were accountable to sales managers, not their clients.

He was unimpressed, to say the least—and very, very bored. So, fed up with it all, he co-founded Monument Wealth Management in May of 2008 and experienced a very real-life example of the difficulty in market timing.

Dave is a combat veteran and served as an officer in the United States Marines Corps on both active duty and in the reserves, retiring at the rank of Lieutenant Colonel. He proudly tackled his post-retirement, mid-life crisis head-on by journeying out on a solo, month-long backpacking trip along the Pacific Crest Trail which totaled over 200 miles through the California Sierra Mountains.

He currently hosts the OFF THE WALL podcast with co-host Jessica Gibbs, where they interview top experts on topics aimed at helping founders and high-earning execs build wealth with purpose.

He also currently serves on the Board of Directors for the Marine Corps Heritage Foundation which stewards the National Museum of the Marine Corps in Quantico Virginia, The Community Foundation for Northern Virginia and The Station Foundation which assists Special Operations warriors navigate the rough terrain of transition and reintegration back to civilian life.

His passions outside of work are fostering dogs for the Lab Rescue of Central Potomac, cheering on his beloved Gamecocks, quoting 80’s movies, and scoring under 100 on the golf course. His two current hobbies are hosting the Moments in Leadership podcast, where he conducts long-form interviews with senior military leaders, and Ham Radio but admits that could change at any moment because his wife Sara keeps calling him a dork.

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Episode #46 The Why & How to Writing a Book That Attracts Ideal Financial Advisory Clients with Paul G. McManus

Education, Finance, Marketing, Speaking, Uncategorized, , , , , , , , , , , , ,

Have you ever pondered the idea of writing a book? You know that it could boost your credibility, demonstrate your expertise, and serve as an impressive introduction to your clients and centers of influence. So why haven’t you done it yet?  More than likely, it feels overwhelming – you don’t have the time or it’s beyond your capabilities, or both!

Fear not, in a truly enlightening episode, Bill sits down with Paul G. McManus, author of The Short Book Formula: A Financial Professional’s Guide to Writing a Book in 6 Weeks to Attract Ideal Clients. Together, they’ll guide you through the process and dive deep into the world of writing, producing, and leveraging a book to generate more clients. They debunk the fears and mistaken assumptions that may have held you back – until now.

McManus unveils a game-changing formula for writing a book in just six weeks—a formula that has already empowered over 500 financial advisors and other professionals to establish their authority and credibility with their very own written work. 

But there’s more. McManus also delves into the untapped power of LinkedIn as a business development tool. He reveals the secrets to attracting and converting your ideal clients through this dynamic platform.

PLUS – Paul and Bill discuss 3 case studies from advisors who have used their book to create unexpectedly significant growth.

If you’ve ever wondered about the potential of having your own book, fretted over your ability to write one, and wondered about the ROI, this episode is a must-listen. 

Bill and Paul discuss: 

  • The definition of authority marketing and how it can help you attract more ideal clients.
  • How financial professionals can write a short (and high-quality) book in only six weeks.
  • The benefits of writing a book as a meaningful way to establish yourself as an expert.
  • Case Study #1:  Mark Miller, a successful financial advisor who used his book The Tax-Free Business Owner to attract his ideal business-owner clients
  • Case Study #2:  Alex Sorkin’s business model of working exclusively with CPAs, and how he uses his book as bait to attract them on LinkedIn.
  • Case Study #3:  Michael Budnick’s book, The Prosperous Nurse, is the first in a series of short books targeted to medical professionals.
  • The benefits of a shorter book, including lower printing costs and the ability to give it away easily.
  • …And more!

Resources: 

Connect With Bill Cates:

Connect With Paul McManus: 

About Paul McManus:

Paul G. McManus is the founder of More Clients More Fun LLC, MCMF Publishing, Creator of The Million Dollar Producer LinkedIn Program, and host of The Million Dollar Producer Show Podcast. He has worked closely with over 500+ financial advisors, CPAs, life insurance producers, and business advisors since 2015. He is also the author of Million Dollar Producer: The Secret Playbook For Financial Professionals To Land High-Value Clients Using LinkedIn. He lives in San Diego, California with his wife Atsuko and his two Boston Terriers, Moo and Potato Chips.

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Episode #42 The Power of Effective Networking for Financial Advisors – with Michael Goldberg

Education, Finance, Marketing, Speaking, Uncategorized, , , , , , , , , , , , , , , , , ,

“I tried networking once. It didn’t work!”

Yes!  This is an actual quote from a financial advisor.  Sad!

Networking for financial advisors is not just going to networking events – which even “The Referral Coach” loathes. Networking is forming our own “community” of mutually beneficial relationships. And it can be done without ever going to a single networking event.

And don’t forget… It’s not called, “Net-sit” or “Net-eat.”  It’s called “Net-work” for a reason. Forming a great network of folks who can help you build your business does take some effort. The good news is that most of the time that effort can be fun!  

In this episode, Bill Cates interviews Michael Goldberg, author of Knock Out Networking as well as a consultant and trainer to financial professionals for decades. 

With unusually fun and lively banter, Bill and Michael discuss:

  • How Michael’s career as an amateur boxer (hence “Knockout Networking”) informs how he helps advisors become successful networkers. 
  • ​​Why effective networking for financial advisors goes beyond just attending events, emphasizing that it’s a verb that can be applied in a variety of ways, including social media (LinkedIn, etc.)
  • How the pandemic made people more intentional about networking, and how that intentionality is helping advisors achieve better results. 
  • Why and how focusing on a clear target market makes networking for financial advisors easier and more productive.
  • Michael’s three goals for networking events (if you do choose to go this route), and how to break the ice to have more meaningful conversations while you’re there.
  • The importance of preparation for networking events.
  • The difference between networking and selling, and how prospecting at events can be unattractive and off putting. 
  • How to answer the dreaded, “What do you do?” with Michael’s PEEC Statement formula.
  • The importance of time blocking and owning your calendar to manage your time properly and make the most of networking activities.
  • …And more!

 

Resources: 

Connect With Bill Cates:

Connect With Michael Goldberg: 

About Michael Goldberg:

Michael Goldberg has helped financial advisors, brokers, agents, reps, wholesalers, and other sales producers add hundreds of thousands of dollars to their bottom line.

His firm Knock Out Networking, LLC is renowned as a speaking and training resource in the financial services industry. Described by clients as “dynamic and motivational”, Michael is a master at invigorating and engaging audiences. His knock-out style is “in your face” and high energy. His content is real world and can be applied immediately. Michael speaks at conferences and associations, runs sales meetings, and delivers results-driven programs on networking, referral marketing, and sales presentations.

“It’s all about Connection” – Michael Goldberg

Boxing, like networking, is a contact sport. The more and better connections you make, the more wildly successful you will be. The state of growing a business and gaining more market share for your top performers is becoming more challenging. Despite technology and all that it has allowed us to accomplish, those with the most contacts, the best relationships, and a greater understanding of how to utilize them will achieve the most success.

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Ep. #2: The Benefits of Narrow Target Markets for Financial Advisors with Adam Cmejla CFP®

Education, Finance, Marketing, Speaking, , , , , , , ,

You’ve undoubtedly heard about the benefits of highly-focused target markets for financial advisors. But perhaps you have reservations and worry that if you go too narrow, you’ll be missing out on valuable opportunities.

If you’ve been considering a specific target market, then perhaps this interview will tip the scales in that direction for you.

In this episode, Referral Coach Bill Cates is joined by Adam Cmejla CFP®, president of Integrated Planning & Wealth Management. Adam discusses his decision to focus on a very specific target market, which has brought him to an extraordinarily high level of success.

Adam discusses: 

  • How he started by targeting “white coat professionals,” but eventually narrowed his focus.
  • Why he believes strongly in the value of hyper-specific target markets for financial advisors.
  • The two bullseyes Adam shoots for that has enhanced his reputation and increased his revenue.
  • Why he launched his podcast, 20/20 Money, and how that as worked as a magnet to attract more ideal clients.

Resources: 

Connect With Adam Cmejla:

Connect With Bill Cates:

About Our Guest:

Adam Cmejla CFP®, has been a financial advisor for 13 years. He helps optometrists nationwide make smart and informed decisions with their money in their practice and in their lives. Host of the “20/20 Money” podcast. Named to Investopedia.com’s 100 Top Financial Advisors of 2019 and Investment News’ 40 Under 40 for 2021.

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