Tag Archives: Wealth Management

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

September 18, 2024Education, Finance, Leadership, Marketing, Prospecting, Speaking, Top AdvisorsAdvisory Practice, Behavioral Finance, Client Education, Client Experience & Loyalty, Client Referrals, COI's, Communicating Your Value, Creating Advocates, Emergency Physicians, Financial Advisors, Financial Decisions, Financial Education, Financial Literacy, Financial Services, Leadership, Life Balance, Marketing, Money Script Wealth Management, Personal Story, Philanthropy, Podcast, Practice Management, Prospecting, Referral Strategies, Referrals, Referrals & Introductions, Social Media, Target Market, Target Marketing, Top Advisor, Wealth Management, Yohance Harrisontopadvisorpodcast

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 #67 The Keys to Courting Ultra High Net Worth Wealth Management Clients with David Kirshenbaum

June 19, 2024Education, Finance, Leadership, Marketing, Prospecting, Speaking, Top AdvisorsAdvisory Firm, Client Experience & Loyalty, COI's, Communicating Your Value, Creating Advocates, Financial Advisors, Financial Goals, Financial Growth, Leadership, Life Balance, Marketing, Mutual Respect, Network Building, New Opportunities, Partnerships, Personalized Strategies, Philanthropy, Podcast, Practice Management, Prospecting, Referrals & Introductions, Social Media, Target Marketing, Top Advisor, Trust, Ultra-High-Net-Worth Individuals, Wealth ManagementTop Advisor Podcast

What would your business (and life) look like if you started working with ultra-wealthy clients ranging from $40 to $100 million?

Working with ultra-wealthy clients can be more complex than “merely” high-net-worth clients. These individuals have distinct needs, expectations, and concerns that require a specialized approach from financial advisors, planners, and wealth managers.

In this episode of Top Advisor Podcast, featured guest David Kirschenbaum, a Tiger 21 Chair, sheds light on the unique perspectives and requirements of wealthy entrepreneurs.

Tiger 21 is an organization whose members have an average net worth of $117 million.

Bill Cates and David Kirschenbaum discuss the fact that these wealthy entrepreneurs are not solely focused on accumulating wealth but also on preserving their assets.

This focus necessitates a holistic approach to ultra-high net worth wealth management that includes comprehensive financial planning, tax optimization, risk management, estate planning, and philanthropic strategies. Advisors and wealth managers need to go beyond traditional investment strategies and consider the long-term preservation of substantial wealth.

In this engaging conversation, you’ll gain insights into:

The unique challenges and opportunities faced by wealthy individuals, and the importance of having the right trusted advisors in their corner.
How advisors need to demonstrate the ability to collaborate and coordinate with a range of professionals to provide a cohesive, integrated approach to ultra-high net worth wealth management.
The fee-sensitive nature of these wealthy individuals (seeking great transparency and value-based services).
What a representative of an RIA said to this group about how to select the right financial advisor.
How too many advisors still ignore the spouse and other family members, causing them to lose clients.
David Kirshenbaum’s varied and successful business career, including how he has created huge business deals using his vast “relationship capital.”
…And more!

Resources:

Connect With Bill Cates:

Connect With David Kirshenbaum:

About David Kirshenbaum:

David has had a successful career working for a number of entrepreneurial, fast-growing, and diverse businesses across law, real estate, venture capital, private equity, family offices, and operating businesses in senior operations/leadership positions as well as business development and transaction management. Based on these experiences and the growth of a significant network of contacts, long-term relationships, and strategic partners, David decided to launch MeadeCo LLC in 2018.

David started his career as a transactional real estate attorney at what is now one of the largest law firms in the world. Following the completion of his MBA, David transitioned to leadership positions in finance, investment management, real estate development, real estate investment and asset management, and private equity.

With a strong desire to combine the skill sets that defined him in earlier stages of his career, David was named CEO of a venture capital start-up that was focused on selling products into the world of real estate. While a short-lived experience, David gained valuable insights into the challenges and economics of earlier-stage companies in need of capital.

Following his CEO role, David acted as a special situations investment banker working with a variety of companies on matters ranging from restructuring to debt placement for “storied credits” and company sales. Employing entrepreneurial instincts and practical operational knowledge, David was able to complete a series of transactions to assist clients with a variety of needs.

While David was pursuing a successful career across a range of industries, he aggressively pursued investments across a broad spectrum of economic activity that broadened his knowledge base and allowed him to leverage hard-fought lessons across three-plus decades of entrepreneurial activity in a variety of endeavors. David’s investment portfolio, together with his role as advisor/mentor and board member to early-stage CEOs has given him a unique perspective on the financial and operational needs of companies that require debt financing or advisory assistance.

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Episode #54 Family Legacy Planning: Guiding Your Clients on the Path to Generational Wealth with Randy Jones

December 13, 2023Education, Finance, Marketing, Speaking, UncategorizedEmpowering Conversations, Financial Advice, Financial Advisors, Financial Assets, Financial Goals, Financial Literacy, Financial Planning, Generational Wealth, Goals, Gratitude, Insurance, Intellectual Growth, Legacy, Legacy Planning, Mindset, Motivations, Obstacles, Physical Well-being, Podcast, Randy Jones, Risk Assessment, Top Advisor, Trust, Wealth Managementtopadvisorpodcast

Family legacy planning involves more than just helping your clients accumulate assets.

Creating a lasting legacy for your clients means crafting a set of values, purpose, and financial knowledge that lasts for generations.

In this episode, Referral Coach Bill Cates interviews Randy Jones, Wealth Management Advisor at Financial Growth Partners. Randy shares his insights on family legacy planning, emphasizing the need to connect all aspects of a client’s life to create a comprehensive financial plan. He introduces his legacy system for creating generational wealth and discusses the interconnectedness of money and time. Randy also shares the importance of creating a family constitution to guide future generations.

Bill and Randy discuss:

Randy’s unconventional path to becoming a wealth management advisor.
Purpose Driven Financial Planning – it’s not just about the money.
Randy’s approach of family legacy planning that evolves and grows with clients.
Randy’s Legacy System and why to focus on our legacy to our future generations.
The different assets individuals have, including physical, intellectual, ethical, and material assets, and their importance in building a legacy.
The distinction between flashy wealth and true wealth.
The significance of early financial education and instilling values in children.
What you need to know about The Family Constitution and The Synergy Consortium.
… And more!

Resources:

RapidFire Referrals

Connect With Bill Cates:

Connect With Randy Jones:

About Randy Jones:

Randy Jones has been in the finance industry for 26 years. As a wealth management advisor at a financial services company, Randy has access to all the same products and programs as any other financial advisor, but that’s not why people come to him.

They come to him for a plan. Randy’s plans are not in a leather-bound book that you put on a shelf in hopes of reading someday. They are plans that you can live, and they change and grow with you and your family.

In life, you have other assets that mean more to you than money. Yet, for most people money has/is/will be more of an obstacle than an asset. You can change this if you are willing to change the way you think. You first must ask yourself “Do I want another product, or do I want a plan?”

Randy helps you create your experiences. He teaches “It’s better to givethan to receive.” He helps you live your dreams, appreciate life, and live in the wow!

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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

November 1, 2023Education, Finance, Marketing, Speaking, UncategorizedAligning with Clients, Authenticity in Messaging, Compliance Burdens, Compliance Restrictions, Creative Communication, Cultural Shift, Dave Armstrong, Differentiation in the Financial Industry, Educational Content, Financial Advisors, Financial Arrangements, Financial Planning, Lack of Creativity, Market Updates, Marketing for Financial Advisors, Podcast, Podcast Statistics, Relatable Content, Starting Own Firm, Target Market, Top Advisor, Traditional Law Firm-Type Office, Unique Messaging, Valuable Insights, Wealth Managementtopadvisorpodcast

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:

LinkedIn: Dave Armstrong

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 #50 How Advisors Can Reverse a Client’s Negative Relationship with Money with Ellen Rogin, CPA, CFP®

October 18, 2023Education, Finance, Marketing, Speaking, Uncategorized2008 Market Downturn, Abundance, Anxiety, Assisting Others, Author, Beliefs About Money, Business, Business Opportunities, Client Meetings, Client Relationship, Economic Volatility, Ellen Rogin, Emotional Relationship, Emotions And Fears, Empathy, Fears And Anxieties, Financial Advisors, Generosity, Gratitude, Growth Opportunity, Market Volatility, Mindset, Mood And Energy, New York Times Bestseller, Peace Of Mind, Podcast, Positive Work Environment, Relationship With Money, Smart Money Moves, Top Advisor, Wealth Managementtopadvisorpodcast

To say that people have an emotional relationship with money would be an understatement!

While you may be a CFP, or a ChFC, or any number of the many certifications available in this industry, perhaps the most important thing you could do to serve your clients is obtain an PhD in psychology. (Smile)

Today, my featured guest and I are going to talk about some of the emotions both YOU and YOUR CLIENTS have around money – especially when the market and/or the economy are sagging or volatile.

Much has been written about the beliefs and emotions around the relationship with money that our clients bring with them, and its impact on the work we do.

That being said… YOUR beliefs and emotions around money will shape your thoughts, decisions, and ADVICE. For you and for your clients, these beliefs and emotions are often unconscious, but need to be considered in order to create the best possible plans and recommendations for your clients.

Your clients bring their money stress to you. How you receive that stress, how you handle your own money stress, and the energy you bring to youe client meetings can help you build the strongest possible client relationships.

In this episode, Referral Coach Bill Cates interviews Ellen Rogin CPA, CFP®, Abundance Activist, Financial Intuitive, and a New York Times best-selling author. This interview is an exploration of how your clients’ emotions and beliefs interact with your own emotions and beliefs – to either reduce or increase client stress.

Bill and Ellen discuss:

The biggest mistake advisors make during client meetings.
A study that demonstrates that when a client is fearful about their money, their IQ goes down, along with their capacity to make intelligent decisions.
The emotional aspects of people’s relationship with money, and how it affects both advisors and clients.
Why a down or volatile market can be the best time for acquiring new clients.
How most advisors stay on the surface with their clients when digging a little deeper will serve both the client and the advisor.
Why advisors should regularly check in on clients’ fears and concerns to provide ongoing support and reassurance.
Why advisors need to bring intentional energy to their client meetings.
How advisors can thrive and grow their businesses during economic downturns.
The benefits of practicing gratitude, such as lower stress, longer life, better health, and increased income.
How your acts of generosity can reduce stress and attract more business.
…And more!

Resources:

Connect With Bill Cates:

Connect With Ellen Rogin:

About Ellen Rogin:

Ellen Rogin is a money expert and financial intuitive who helps people transform their relationships with money so they can have happier, more abundant lives. Her book, Picture Your Prosperity, was a New York Times bestseller, and her work has been featured on CNBC, ABC, NPR, TIME, and Oprah Magazine.

As a CPA and CFP®, Ellen worked for many years as a traditional financial advisor before selling her successful wealth management firm. She now combines her intuitive abilities and financial experience to connect with the energy of money and deliver “Messages from Money” to her clients. Sounds weird? It did at first to Ellen, too! Yet people worldwide have found her understanding of their relationships with money to be uncanny.

Ellen’s consultations help people gain insights on how to grow their businesses, expand their wealth, and bring an increased sense of peace around money. She is also a sought-after speaker and has trained and coached thousands of conscious financial advisors and entrepreneurs worldwide to use the “Art of Prosperity” to grow their businesses and their wealth.

Ellen serves on the Board of Directors for Metropolitan Capital Bank and Trust and The Ghana Scholarship Fund. She earned her MBA at NYU Stern School of Business.

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Episode #47 From Bucket Lists to Live It Lists – an Advisor’s path to $1M in Annual Production in 5 Years with Nicole Middendorf, CDFA

September 6, 2023Education, Finance, Marketing, Speaking, UncategorizedAuthor, Client Acquisition Strategies, Client Meetings, Conferences, Divorce, Financial Advisors, Financially Savvy, Followers, Hosting Events, LinkedIn, Material Possessions, Meaningful Connections, Media Outlets, Morgan Stanley, Nicole Middendorp, Optimize LinkedIn Presence, Podcast, ROI, Spending Money on Experiences, Top Advisor, Wealth Management, Womentopadvisorpodcast

From $0 to $1M in annual production in only 5 years sounds impossible, right? Think again.

Successful wealth advisor and certified divorce financial analyst, Nicole Middendorf, CDFA, joins us to share her journey from a troubled marriage to discovering her true purpose and helping others along the way – while building a truly Top Advisor practice.

To distract from her divorce, she created her Live It List to help her find joy by pursuing meaningful experiences. She now brings her Live It List concept to her clients to help them do the same.

During this lively conversation, Nicole shares her insights about combining financial planning with helping clients achieve their goals and dreams.

Nicole also discusses her decision to go independent and build a team around her, as well as her client acquisition strategies, including hosting events and utilizing LinkedIn.

Bill and Nicole discuss how Nicole:

Transitioned from being a wirehouse advisor to running her own wealth management firm, building her team, and becoming a $1M producer in only 5 years.
Uses her Live It List concept to add a comprehensive dimension to financial planning that very few advisors consider.
Uses her Live It List concept as a tremendous referral generator, as well as creating a huge following on social media and in her community.
Hosts Live It List events and utilizes LinkedIn to attract and win ideal clients.
Leverages TV appearances to boost her client acquisition and overall reputation.
…And so much more!

Resources:

Connect With Bill Cates:

Connect With Nicole Middendorf:

About Nicole Middendorf:

Nicole Middendorf is a knowledge junkie, a mentor, and a born coach. She is an entrepreneur who has run her own business since 2003. Nicole is the author of five books and the mother of two phenomenal children. She is also a world traveler, a philanthropist, and an accomplished public speaker.

As a speaker, Nicole shares a real-life perspective on life and happiness with audiences across the country. Her primary goal is to inspire others to make real changes in their lives by taking complicated things, making them easy to understand, and giving actionable items to make change.

Nicole loves to work hard to empower individuals to make crucial, positive changes in their own lives. Nicole’s books have received local and national press coverage. She has become known for her thoughtful, concise quotes, relaxed on-air presence, and articulate delivery during both radio and television interviews.

The world needs more people—especially women—to be financially savvy, wholly independent, happy, and living a life of balance. Through Nicole’s writing, public speaking, coaching program, and work, she wants to be the one who supports them on all levels.

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Ep. #26: How to Target Millennials as Financial Advisory Clients with Ivory Johnson, CFP®, ChFC

August 3, 2022Education, Finance, Marketing, Speaking, UncategorizedAttracting Millennial Clients, Attracting Younger Advisory Clients, Bill Cates, Bitcoin, Clients, Cryptocurrency, Financial Advisor, Ivory Johnson, Podcast, Referral Coach, Social Media, Top Advisor Podcast, Wealth Managementtopadvisorpodcast

According to Forbes, “Millennials will hold five times as much wealth as they have today, and the group is anticipated to inherit over $68 trillion from their Baby Boomer parents by the year 2030. This will represent one of the greatest wealth transfers in the modern times.”

There are already approximately 618,000 millennial millionaires. Millennial millionaires make up approximately 2% of the total U.S. millionaire population. The majority of millennial millionaires have a net worth that ranges from $1 million to $2.49 million and fall between the ages of 34 and 37.

Due to inheritances, trusts and estate planning, there will be a steady flow of Millennials getting very rich soon.

The reality is that many millennials and younger clients with huge upside want to work with financial advisors, just not in the traditional way. And, you don’t necessarily have to hire younger associates to attract these younger clients.

In this episode, Referral Coach Bill Cates is joined by Ivory Johnson, CFP®, ChFC, and founder of Delancey Wealth Management. Ivory and Bill explain the importance of attracting a younger clientele, how to target millennials by adjusting your approach, and how this will benefit your business.

Bill and Ivory discuss:

Why Ivory believes it’s important to work with younger clients – especially the adult children of his older clients.
How to target millennials as advisory clients.
2 important questions Ivory asks every client in order to become more relevant and helpful to them.
How Ivory deals with younger clients and the fun part of working with them.
Why advisors need to have a social media presence to attract millennials.
Ivory’s optimism for technology and digital assets.
and more

Resources:

Connect With Bill Cates:

Connect With Ivory Johnson:

About Our Guest:

With over two decades of helping families and small businesses create and protect wealth, Ivory Johnson has seen the benefits of developing a financial game-plan. Ivory combines his extensive professional and academic experiences to diagnose an increasingly complicated world. He believes that if you can’t explain it, you don’t understand it, choosing the colloquial in favor of formal.

Ivory has a B.S. in Finance from Penn State University, is a Certified Financial Planner (CFP®), a Chartered Financial Consultant (ChFC) and has been recognized by the Global Blockchain Association and RIA DAC for his proficiency in blockchain technology and digital assets. He is also a member of the CNBC Financial Advisor Council made up of 20 high-level financial professionals, and regularly contributes articles to CNBC.com, and has been quoted in Investment News, the Wall Street Journal, Black Enterprise, Money Magazine, Kiplinger’s and other publications.

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