Modern Financial Advisor

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The Modern Financial Advisor Podcast shines a light on innovative strategies, solutions, and ideas shared by guests who are driving the wealth management industry forward in new and exciting ways. The show is hosted by Mike Langford and produced by finservMarketing.

  1. 1 HR AGO

    Why Modern Financial Advisors Must Offer Comprehensive Banking Solutions and Advice or Risk Losing Clients

    Bob Clare spent 25 years inside Bank of America and Merrill Lynch before founding Fispoke — a complete embedded banking and lending platform built specifically for independent RIAs and financial advisors. And what he saw from the inside is what drove him to build it: the big banks have a very deliberate strategy to cross-sell your clients every time they walk through their doors. Most independent advisors have no idea it’s happening. In this episode, Mike and Bob dig into why integrating banking into your practice is both an offensive and defensive strategy, what it really means to be a fiduciary when you’re only managing half of your client’s financial life, and how Fispoke is enabling advisors to offer $20.5 million in FDIC insurance and a 3.56% high-yield savings APY to their clients today. They also unpack a stat that should stop every advisor cold: 81% of heirs switch advisors after inheriting wealth. Bob explains how building a banking relationship with the next generation is one of the most powerful retention tools in an advisor’s arsenal. Chapters: 0:00 - Cold Open: Bob’s Warning to Advisors 0:30 - Episode Intro 2:00 - Welcome Bob Clare / The Journey from Terry’s Episode to Today 3:00 - Fispoke Elevator Pitch: The Turnkey Banking Platform for Advisors 6:00 - Offense & Defense: Banks Are Actively Cross-Selling Your Clients 13:30 - The Fiduciary Blind Spot: Managing One Side of the Balance Sheet Isn’t Enough 19:00 - Business Owner Clients and the Banking Opportunity 20:30 - $20.5 Million in FDIC Insurance: The Sleep-at-Night Conversation 25:30 - From Portfolio Manager to Capital Architect 28:30 - Advisor Financing: Own Your Destiny Without Selling to Private Equity 29:30 - The 81% Problem: Banking as a Next-Gen Retention Strategy 35:00 - Getting Started with Fispoke (No Platform Fees) 38:30 - Training & Getting Comfortable with Banking Conversations 43:00 - First Mover Advantage & Closing Thoughts 47:00 - Outro

    49 min

  2. 6 DAYS AGO

    Love Your Customer or Quit: The 4 Pillars of Client Experience That Actually Matter

    Rich Walker, co-founder and CEO of Quik!, joins Mike Langford to share his four essential pillars for creating exceptional client experiences—including the provocative first principle: love your customer. Rich reveals why he and his wife shut down a profitable business after four months because they didn't love their customers, and what that taught him about building sustainable advisory relationships. This conversation explores the intersection of AI, leadership, and human connection in wealth management. Rich breaks down how to set boundaries that make clients feel more secure, why a 99% satisfaction score might indicate you're doing too much, and how to treat AI tools as collaborative colleagues rather than robotic servants. Plus, Rich unveils Quik!'s revolutionary new product, Formstream, which promises to transform the paperwork nightmare every advisor faces. The 4 Pillars Framework: Pillar #1: Love Your Customer - Why this is non-negotiable and how to know when you don'tPillar #2: Be Your First Customer - Solving problems you actually experiencePillar #3: Be On Your Customer's Team - You're the guide, not the heroPillar #4: Know and Enforce Your Boundaries - How limits create love and trust Key Topics Covered: Only 30% of firms are actually using AI (you haven't missed the boat)How to think about AI as a colleague vs. a toolThe collaborative approach to AI that produces better resultsWhy solo advisors still need leadership skillsTeaching clients how to communicate with you through boundariesThe danger of 100% customer satisfaction scoresIntroducing Formstream: The "TurboTax approach" to formsHow paperwork friction costs advisors months in onboarding time Episode Timeline: 0:00 - Cold Open: Love Your Customer 0:52 - Episode Introduction 2:00 - Welcome Rich Walker to the Show 4:41 - The 4 Pillars of Client Experience Framework 5:00 - Pillar #1: You Have to Love Your Customer 6:00 - Being Interested in Your Clients 7:48 - Shutting Down a Profitable Business (Wife's Weight Loss Company) 9:00 - Pillar #2: Be Your First Customer 11:00 - Why Rich Quit Being a Financial Advisor 12:43 - Pillar #3: Be On Your Customer's Team 13:00 - Building a StoryBrand - You're the Guide, Not the Hero 14:00 - Financial Advisors Are Relationship-Based 15:00 - Helping Your Team See the Impact of Their Work 17:40 - Pillar #4: Know and Enforce Your Boundaries 18:00 - Alamo Drafthouse: Boundaries Create Great Experiences 20:00 - Children Feel Love When They Know the Boundaries 22:23 - Teaching Clients How to Communicate With You 24:00 - The 99% Customer Satisfaction Problem 26:00 - Not Making Enough Turnovers (Basketball Analogy) 27:00 - Sarah Vogelsanger's Phone Call Feedback 28:00 - Thomas Gold Solutions: We Answer the Phone 30:43 - AI and Client Experience in Wealth Management 32:33 - Only 30% of Companies Are Actually Using AI 34:00 - SunWest Credit Union's "Sunny" AI Story 35:00 - Does AI Enhance or Replace Your Client Experience? 36:00 - Excel and Claude: Mind-Bending Capabilities 38:43 - The Two Aspects of AI: Tool Set vs. Personal Dialogue 40:00 - Think of AI Like a Human Colleague 41:00 - The M-Dash Story: Asking AI "Why?" 42:00 - Training Employees vs. Training AI 44:00 - Stop Prompting, Start Collaborating with AI 45:00 - Let AI Write Its Own Prompts 46:00 - Surfing the Trend vs. Fighting the Tide 47:00 - Video Calls Have Become Universal 48:00 - Rich's Mom Uses ChatGPT for Journaling on Walks 49:00 - What Does Quik! Actually Do? 50:00 - Introducing Formstream: Dynamically Creating Software from Forms 51:00 - The "TurboTax Approach" to Forms 52:00 - Paperwork Friction Causes 2-Month Delays 53:00 - Where to Find Rich Walker and Connect 54:00 - Episode Outro and Final Thoughts

    56 min

  3. 17 FEB

    The AI Paradox: How a Notetaking App Is Making Financial Advisors More Human

    What if AI could actually make you MORE human with your clients? Matt Halloran, Chief Evangelist at Zocks, joins Mike Langford to share a powerful paradox that's transforming financial advisory: the technology that was supposed to replace human connection is actually deepening it. In this episode, you'll discover: How one advisor nearly missed his client's spouse mentioning a serious health issue—but his AI notetaker caught itWhy the "tyranny of minutiae" is keeping advisors from spending quality time with clients (and how to break free)The surprising stat: advisors only spend 20% of their time with clients—and how to reclaim 10+ hours per weekWhy having "no baggage" makes AI the perfect listener in client meetingsHow 2 million meetings worth of machine learning is making every advisor better at their jobThe simple follow-up email strategy that's helping advisors close more business against competitorsWhy adoption rates for AI tools are skyrocketing from 10% to 90% in just 18 monthsHow to attract young talent and drive organic growth in the AI era Matt also shares a powerful Navy story about "trusting the wind at your back"—a metaphor that shaped his entire career and led him from co-founding ProudMouth (the largest podcasting company in financial services) to his new role evangelizing AI solutions. Whether you're skeptical about AI or already experimenting with it, this conversation will shift how you think about technology's role in building deeper, more authentic client relationships. Guest: Matt Halloran, Chief Evangelist at Zocks Learn more: https://www.zocks.io/mattgpt

    59 min

  4. 16/10/2025

    Alan Moore from XYPN Live on Entrepreneurship, Escape Velocity, and the RIA Fee-For-Service Revolution

    The Future of Financial Advising: Alan Moore on XYPN's Growth, Fee-For-Service Models, and More In this episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Alan Moore, CEO of XY Planning Network (XYPN) and AdvicePay, for an insightful discussion at the XYPN Live conference in Austin, Texas. They explore topics such as the challenges of organic growth in the financial advising industry, the rise of fee-for-service models, and the different phases of building a successful advisory business. Alan shares his journey from starting his own firm to managing two large companies, emphasizing the importance of finding the right business model and staying transparent with clients. Tune in to learn valuable insights from one of the industry's most inspiring leaders. Don't forget to subscribe on Apple Podcasts, Spotify, Google Play, Amazon, or your favorite podcast platform! Chapters: 00:00 Understanding Market Saturation in Financial Advisory 01:08 Introduction to the Modern Financial Advisor Podcast 02:56 Welcoming Alan Moore to the Show 05:14 The Origin Story of XYPN 08:36 Challenges and Growth in Entrepreneurship 15:13 Phases of Business Development 20:35 Reflecting on Rapid Growth and Challenges 21:43 The Shift to Fee-for-Service Models 22:33 Exploring the AUM Model and Market Saturation 29:30 The Origin and Growth of AdvicePay 31:56 Balancing Multiple Ventures as an Entrepreneur 33:32 Building Influence and Creating Gravity 37:09 Conclusion and Final Thoughts

    39 min

  5. 16/10/2025

    Michael Kitces Explains How Financial Advisors Can Create Gravity to Attract Clients vs Fighting Time and Scale Constraints

    Unlocking The Secrets to Scaling Your Financial Advisory Business - Michael Kitces on XYPN Live In this episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Michael Kitces during the XYPN Live conference in Austin, Texas. They discuss the importance of knowing your target market, focusing on strategic planning, and the concept of 'gravity' in marketing. Michael shares insights into creating a successful, scalable financial advisory business, moving away from time-based marketing activities, and the benefits of a clear, targeted market segment. The conversation also touches on the innovative structure and support offered by XY Planning Network to independent advisors. Michael's expertise offers transformative advice for financial advisors looking to grow and sustain their practices efficiently. Chapters: 00:00 Understanding the Importance of Target Audience 01:14 Introduction to the Modern Financial Advisor Podcast 03:09 Welcoming Michael Kitces 04:46 The Concept of Creating Gravity in Wealth Management 06:43 Challenges in Scaling a Financial Advisory Business 13:15 Strategic Planning and Marketing for Advisors 19:17 The Flaws of Time-Based Marketing 20:12 Scaling Your Business with Brand Building 20:59 Challenges in Organic Growth 21:44 Reinventing Business with XYPN 23:21 Building Your Own Firm with XYPN 24:39 Support and Compliance Services 25:23 Tech Stack and Community Support 29:05 Flexible Business Models and Membership 31:34 The Importance of Niche Marketing 34:53 Conclusion and Upcoming Episodes

    36 min

  6. 05/10/2025

    Building the Back Office of the Future: AI Agents and Operations Tech for Financial Advisors

    In this episode of the Modern Financial Advisor Podcast, host Mike Langford is joined by David Knoch, CEO of Docupace, to discuss the evolving landscape of financial advisory operations. David shares his insights on the industry's archaic practices, the importance of operational efficiency, and the role of AI in future-proofing financial services. With over 400,000 users on their platform, Docupace is leading the charge in transforming back-office operations for financial advisors. Tune in to learn about Docupace's vision for intelligent automation, their strategic acquisitions, and how they are addressing the $50 billion problem of inefficiency in financial advisory firms. Chapters: 00:00 The Archaic State of the Financial Industry 01:18 Introduction to the Modern Financial Advisor Podcast 02:44 Welcoming David Knoch: CEO of Docupace 03:54 The Evolution of Financial Advisory Operations 07:09 Docupace's Vision for the Future 10:41 The Role of Technology in Financial Services 14:19 The Human Element in Financial Planning 21:08 The Importance of Operational Excellence 25:56 Docupace's Growth and Acquisitions 27:03 Convergence of Leadership Perspectives 27:26 Acquisition Strategies and Integration 29:09 Docupace's Collaborative Culture 31:46 Balancing Independence and Integration 35:07 Build vs. Buy Decision-Making 42:42 The Role of AI in Financial Advisory 46:58 Future Vision and AI Implementation 56:14 Conclusion and Final Thoughts

    58 min

  7. 25/09/2025

    Why RIAs That Take Workflow Management Seriously Are Growing 33% Faster Than Their Peers

    How I Built and Sold My FinTech Startup: Louis Retief of Hubly on The Modern Financial Advisor Podcast In this episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Louis Retief, co-founder of Hubly, for an in-depth conversation about his entrepreneurial journey in the wealth tech industry. Louis shares his experience of founding Hubly right out of college, the challenges and opportunities he encountered, and what it's like to have his company acquired by Docupace. They discuss the importance of efficiency and workflows for advisory firms, the role of operations managers in decision-making, and the ongoing consolidation in the wealth management tech space. Louis also provides insights into how Hubly and PreciseFP are working together post-acquisition and the long-term vision for integrated solutions in financial advisory firms. This episode is a must-watch for anyone interested in fintech, wealth management, and entrepreneurship. Don't miss it! Chapters: 00:00 Introduction to Hubly and Efficient Advisory Firms 00:52 Welcome to the Modern Financial Advisor Podcast 02:12 Louis Retief's Journey and Hubly's Origin 03:12 The Importance of Workflow Automation 17:13 Challenges and Solutions in Financial Advisory Firms 27:20 Understanding the Financial Advisory Market 33:27 Building for the Back Office 34:43 Lessons from Social Wear 36:38 Hubly's Strategic Pivot 37:43 Acquisition by Docupace 39:15 Research and Decision Making 47:00 Post-Acquisition Integration 49:17 Future Vision and Product Development 53:27 Entrepreneurial Insights and Challenges 56:12 Importance of Long-Term Thinking 58:37 Due Diligence in Tech Partnerships 01:02:12 Final Thoughts and Farewell

    1h 5m

  8. 17/09/2025

    Financial Advisors Who Embrace New Business Models and Adopt AI Today Will Be The Last Ones Standing

    In this episode of the Modern Financial Advisor Podcast, host Mike Langford engages in a thought-provoking conversation with Steve Lockshin, founder of AdvicePeriod and Vanilla Technologies. Steve shares insights on the shortcomings of the traditional AUM model, the rise of AI in financial advising, and the potential of technology to revolutionize the industry. They discuss estate planning, the importance of serving high net worth clients, and practical applications of AI and tokenization. Steve also opens up about his personal life, including his passion for wake surfing as a morning routine. Join us for a deep dive into the future of financial advising and what advisors should do to stay ahead. Chapters: 00:00 Introduction and Personal Anecdote 01:20 Welcome to the Modern Financial Advisor Podcast 01:25 Guest Introduction: Steve Lockshin 03:00 Morning Routine: Wake Surfing 06:47 The Importance of Estate Planning 13:46 Vanilla: Revolutionizing Estate Planning 20:06 Challenges in the Financial Advisory Industry 26:58 The AUM Model: Pros and Cons 32:42 The Importance of Fee Negotiation 33:25 Client Scenarios and Advisor Conflicts 34:44 Structuring Advisory Fees 35:26 Fee Calculators and Transparency 36:46 Client Shopping Behavior 40:46 AI and Tokenization in Wealth Management 48:33 The Future of Financial Advisory 50:20 Advisors Adapting to Technological Changes 58:03 Final Thoughts and Advice for Advisors

    1h 2m
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About

The Modern Financial Advisor Podcast shines a light on innovative strategies, solutions, and ideas shared by guests who are driving the wealth management industry forward in new and exciting ways. The show is hosted by Mike Langford and produced by finservMarketing.

Information

  • Creator
    finservMarketing
  • Years Active
    2018 - 2026
  • Episodes
    143
  • Rating
    Clean
  • Copyright
    © All rights reserved
  • Show Website
    Modern Financial Advisor

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