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Podcast

Independence for Financial Advisors

The Best of 2020: Top Advice from 10 Independent Business Owners

Posted by Mindy Diamond

A culmination of the most relevant commentary on independence—from a year unlike any other.

Mindy Diamond Podcast for Financial Advisors

In the wealth management world, there was plenty of good news to come out of 2020. For instance, many advisors have reported that it was one of their best years ever in terms of growth. And from the perspective of recruiting, advisor movement was the strongest ever.

Ultimately, advisors forged ahead with the intent of serving their clients and growing their businesses with the best of their abilities. And those who were motivated to find better ways to do so, chose to transition to options that offered them greater freedom, flexibility and control.

Because, despite the pandemic, as David Bahnsen of The Bahnsen Group shared, this period of time was when the most successful advisors were “living out their philosophy”—and exercising the freedom and control that being independent offers them. Or as David put it, “to be able to do everything exponentially,” with enhanced ability to market and brand themselves, create original content, and demonstrate competence and thought-leadership.

And it’s commentary like this that David shared on our show that we celebrate – advice from the top 10 independent business owners featured in the past year – in a special episode representing the 100th in our podcast series.

It’s a distillation of our conversations, demonstrating common threads weaved throughout—related themes and nuggets of wisdom that answer the threshold question: Why independence?

This hand-picked curation of top advice includes:

  • The real benefits of independence when it comes to communication, marketing, customization, technology and client service—and ultimately the ability to offer conflict-free advice.
  • Thoughts on wirehouse retire-in-place programs—and how these advisors found better solutions by going independent.
  • The psychology behind “shrinking to grow”—and shifting from an “employee-advisor mindset” to a “fiduciary-entrepreneur mindset.”
  • What the real value of independence is for clients—and why so many are actually “happy” to part with a big brand.
  • Why an advisor would choose to turn down the big recruiting deal—and instead opt to play the long game.
  • What it takes to compete against the big banks—and how the ability to “shop the Street” translates to better service for clients.
  • The growth of supported independence models—and how these solve for an advisor’s desire for greater freedom and control when independence feels like “a bridge too far.”
  • What it takes to build a business with the end in mind—and how to determine when or if it’s time to sell or bring on an investment partner.
  • And, ultimately, how to shift your focus from “getting” to “giving”—a concept that helps deliver immense value.

The “Best of 2020” roster features:

David Bahnsen, Chief Investment Officer, Managing Partner at The Bahnsen Group

Melissa Bouchillon, Managing Partner at Sound View Wealth Advisors

Jeff Concepcion, Founder and CEO of Stratos Wealth Partners

Joseph Eschleman, President of Towerpoint Wealth, LLC

Elizabeth “Lizzie” Evans, Managing Partner at Evans May Wealth

Jason Fertitta, President/Partner at Americana Partners

Justin Berman, Principal and CEO at Berman Capital Advisors, LLC

Jon Kuttin, CEO of Kuttin Wealth Management

Lori Siegel, Founding Partner, Centrix Wealth Partners

Lee Korn, Financial Advisor, Principal at Opal Wealth Advisors

Plus, a special “bonus” message from Bob Burg, co-author of the bestseller Go-Giver series.

It’s a digestible download of independence from those who know it best—that is, those who are building successful independent businesses designed for the long-term. Whether you’re an employee advisor or independent, it’s an episode that offers valuable takeaways and actionable advice.

Podcast: Play in new window | Download (Duration: 1:03:57 — 73.9MB) | Embed

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WealthManagement.com            Feedspot Top 35 Podcasts for Financial Advisors

 

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About Mindy Diamond

CEO – By counseling advisors on how to ask the right questions and “dig deep”, she helps them look at all of the opportunities available to find the one that allows them to reach their full potential. That is, to best serve their clients and live a life that is in sync with their own beliefs and values. Learn more...

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    WHAT OUR LISTENERS ARE SAYING…

    • Your podcast helped me a ton during my due diligence. There is no replacement for hearing from others who were successful leaving the wires. You are doing great things for the industry.

      Rory O’Hara
      Founder, Senior Managing Partner – Ausperity Private Wealth
    • A fantastic bundle of wisdom from one of the very best Curators of all things Wealth Management.

      Jim Dickson
      Founder - Sanctuary Wealth
    • I love the fact that you are talking a diverse group of people in our industry and educating us all. We are all doing our own thing, so it’s helpful listening to other interviews and hearing about different approaches to the business.

      Brock Moseley
      Founder, Miracle Mile Advisors
    • I didn’t realize what I could do until I heard what other advisors were doing. Then week after week, it was like the gaps were filled in. Without it, I wouldn’t have had the confidence to go independent. Even after transitioning, I still can’t wait for Thursday mornings to hear the latest interview.

      Jerry Davidse
      CEO, Presilium Private Wealth
    • Best new resource I have come across in a long while.

      Daniel Gude
      Senior VP at LPL Financial
    • I would say one of the best things I ever did was listen to your podcast. I listened to it a thousand times. There are so many aspects to explore. You’re driving blind until you actually engage a professional.

      Michael Henley
      Founder & CEO, Brandywine Oak Private Wealth
    • Fantastic Podcast and a must-listen for anyone considering Independence!

      Robert Walter
      President, Sanctuary Wealth
    • This is outstanding. Every team considering independence should listen.

      Chris Cooke
      Managing Partner, Cooke Financial Group
    • Every advisor at a brokerage firm should listen to this podcast. I’m convinced that most advisors don’t realize their real value. Do your research. You deserve your true value and going out on your terms. It’s your life’s work. Even if you don’t transition to independence, know your value and options in order to make an educated decision.

      Robert Harris
      Senior Wealth Advisor, Avidian Wealth Solutions

     

    Other Recent Episodes

    • Financing Independence: A Lender’s Perspective on Breakaway Transitions, M&A and Succession
    • Two $10mm Teams Leave the Wirehouse World in One Week: An Industry Update on Advisor Transitions
    • Advisor Transition Report: An Update on Advisor Movement Over the Course of 2022
    Independence 101 The Basics for Advisors
    Feedspot Top 35 Podcasts for Financial Advisors
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