Growing Your Financial Advisory Practice | Insights for Financial Advisors, Planners and Investment Managers Snap Projections

Advisors need to be able to help their clients meet not just their short-term goals, but also their long-term wealth management goals, and that means building strong relationships with clients and having a clear understanding of their needs and priorities. Today’s guest has built a successful practice doing just that.   
Daryn Form has built a successful financial advisory business over the past 20 years. In 1999, he earned the Certified Financial Planner™ professional designation. In 2011, he earned the Canadian Investment Manager (CIM™) offered by the Canadian Securities Institute; this professional designation is required to be licensed as a discretionary portfolio manager in Canada. Daryn uses a scientific process-driven approach to investing—along with his breadth of experience and knowledge in wealth management and advanced financial planning—to help his clients achieve their financial goals. 
Topics Discussed in This Episode:  

Who Daryn’s firm serves (1:14)
Why Daryn decided to become an advisor early on (3:24)
Daryn’s onboarding process for clients (9:36)


How Daryn approaches client acquisition (14:18)
Why Daryn decided to switch to an AUM-based model (20:53)


How would he start in the wealth management industry today (32:07)   

Links and Resources: 
  Assante First Avenue 
 Quotes From the Show:  
“In some ways the business has changed dramatically, in some ways it hasn't changed at all - this is still a relationship-oriented business.“  
“The majority of our new clients come from our overwhelming effort to do terrific work for people, such that they want to tell other people about it.” 
“Their problem is unique to them, but it’s not unique to others, which means it wasn’t unique to us.”   
With over two decades of industry experience, Daryn’s expertise stemming from building his own successful practice is useful to advisors of all different levels. Today, he is sharing his experience and wisdom with us.  
Below, we’re sharing three key ideas from the episode: 

Daryn’s clientele and how he approaches serving and acquiring them 
How to build a business that is a good fit for you

Financial advising isn’t just about what an individual should do with their money while they’re still alive. It’s also about their family and what happens to wealth after an individual passes away. Wills, estate planning, powers of attorney, and healthcare directives are all important things that a financial advisor’s clients should be thinking about, and that means that financial advisors need to think about them as well.  
Today’s guest is Tom Deans. Tom is a professional speaker and the author of two best-selling books that deal with the intergenerational transition of family wealth: Every Family’s Business and Willing Wisdom. Listen to the episode to hear what Tom has to say about why there’s an estate planning gap, how advisors can fill that gap, and what kind of effect the COVID-19 crisis has had on the subject of estate planning.  
Topics Discussed in This Episode:  

How Tom became focused on the issue of estate planning (3:37)
Why Canada has an intergenerational wealth issue (6:10)
How advisors can fill the estate planning gap and provide advice to their high net-worth clients (12:01)
What Tom has noticed about the culture of families that transfer wealth successfully (15:16)


What is The Willing Wisdom Index (23:09)
Whether there are any trends over the last few months related to COVID-19 (26:57)

Links and Resources: 
For a free software trial: Sales@willingwisdom.com 
Call Tom: (519) 938-2069 
Willing Wisdom 
Quotes From the Show: 
“Estate planning isn’t just about answering the question ‘Who gets my stuff when I’m dead?’ There’s a whole part of estate planning that’s very much about the living.”  
“A will is like an MRI for a doctor - the will and a conversation about a will reveals everything.” 
“Wealth has always been about family and family relationships.” 
Tom provides a unique perspective from outside of the traditional financial planning industry at how advisors can grow into an untraditional niche. His many successes in publicizing the issues facing intergenerational wealth position him to provide insight to all advisors on how they can grow their business by opening discussions on estate planning with their clients. 
Below, we will be discussing three key ideas from today’s episode:  

Is it possible to make investments and get good returns while investing in assets that reflect your values? Today’s guest says that it is. Tim Nash is the founder of Good Investing, an investment planning firm with a focus on sustainable investing. 
Tim's blog The Sustainable Economist has inspired thousands of Canadians to invest according to their values with model portfolios to reflect different definitions of sustainable investing. Tim writes a bi-weekly column for The Toronto Star and is regularly featured in publications such as CBC’s The National, BNN Bloomberg’s Market Call, and the Globe and Mail. Listen to the episode to hear what Tim has to say about what’s involved in sustainable investing, what kinds of returns can be expected from those investments, and how Tim approaches helping his clients invest in a way that reflects their values.
Topics Discussed in This Episode: 

What Tim and his firm do (1:09)
How Tim got into his niche of the industry (3:22)
Terms of Socially Responsible Investing (8:50)
Where socially responsible investing is in terms of returns (14:20)
Tim’s approach to advising and serving clients (20:00)
Tim’s sliding scale (24:45)
Tim’s advice for investors (46:19) 

Links and Resources: 
Good Investing
The Sustainable Economist
Quotes From the Show: 
“The number one indicator that is most correlated to financial outperformance is gender diversity on the Board of Directors." 
“You don’t need to sacrifice financial performance. You can do at least just as well, and most socially responsible funds have outperformed by a little bit.” 
“I very much believe in price discrimination- that some people can afford a higher price, and some people can afford a lower price.”
From his unique business approach to his success in the sustainable investing niche, Tim Nash offers insights backed by years operating in the industry. Advisors at any career stage can benefit from learning from his expertise, along with hearing about the potential performance implications of cultivating a sustainable client portfolio.
Below, we will be discussing three key ideas from today’s episode: 

How Tim Breaks Down Sustainable Investing 
Expected Returns in Sustainable Investing
How Tim Structures his Business to Serve People from All Walks of Life 

To listen to the full epi

Sometimes, you may encounter an idea or opportunity that hasn’t yet been adopted by the mainstream, but you just know that it makes sense. Having the vision to know when something makes sense for your practice or your clients even though it isn’t yet mainstream in your field is a quality that can separate the average advisors from the exceptional ones. Today’s guest – an early adopter of ETFs – has insights to share about the importance of knowing when to swim against the tide. 
Keith Matthews is a Partner and Portfolio Manager at Tulett, Matthews & Associates. He has an MBA from the Richard Ivey School of Business and is a Chartered Investment Manager. For close to 25 years, Keith has been working with his clients to deliver leading-edge wealth management strategies to help his clients reach their long-term goals. Listen to the episode to hear Keith talk about why he decided to become an advisor, what attracted Keith to ETFs in the early days, and how clients respond to Keith’s book, The Empowered Investor.
Topics Discussed in This Episode: 

Why Keith decided to become an advisor (3:22)
What attracted Keith to ETFs early on (5:57)
How Keith approaches advising and serving his clients (12:08)
Why doing taxes for clients gives you an edge (15:53)
The role of Keith’s book in the client acquisition process (21:17)
How Keith leverages software at his practice (32:11)
Advice for new advisors (40:11)

Links and Resources: 
Tulett, Matthews & Associates
The Empowered Investor
Quotes From the Show: 
“All of the early advisors that were doing this knew it made sense, knew it was the right thing, knew it was very friendly for clients.” 
“The idea of at least understanding tax sensitivities is huge for an advisor, and it’s a huge value-add for clients.” 
“If a client buys into all the following things and wants to have the sort of comprehensive approach that we’re dealing with, wants to be engaged, is serious, wants to see themselves reach their goals, and subscribes to the investment approach, then I think we’ve got a really nice connection.”
With an expansive career in the industry, Keith has become an expert on ETFs and passively managed strategies. His knowledge and experience can help you evaluate your processes, no matter what career stage you are in. 
Below, we’re discussing three key ideas from today’s episode: 

How Keith Pioneered the use of ETFs 

People in different fields and with different types of learning styles think about finances in different ways. There is more than one right way to talk about finances and financial planning – the trick is finding the language that works for you and the language that can best speak to your segment of clients. And that’s what today’s guest is here to talk about.
Chris Enns is not just a financial planner – he’s also an opera singer. Over the last 10 years as a performing artist, he’s learned the hard way that ignoring money doesn’t really work. That’s why he founded Rags to Reasonable - an advice-only financial planning & money coaching firm that specializes in working with creatives and people with other non-traditional financial situations. Listen to today’s conversation to hear what Chris has to say about non-traditional financial planning, Chris’s biggest challenges and successes, and what it’s like to speak a different kind of financial language. 
Topics Discussed in This Episode:

Who Chris’s firm usually serves (8:48)
Chris’s strategies for coaching and planning (14:30)
What happens after clients improve their financial stability (19:50)
Using different financial language for different kinds of people (28:55)
What things Chris believes have contributed to his success (31:37)
The biggest challenges Chris is facing (35:37)
Chris’s advice for financial planners (49:53)

Links and Resources: 
Rags to Reasonable
Quotes by Chris: 
“The truth is, the things that make people great artists, and really good at their craft, are the exact things that are going to make them good at their finances.”
“I think that one of the things we need to think about more in the financial space is that the answer cannot be that we talk about money in one way.”
“I have never had a real job in my life – I’ve worked for myself my entire life.”
Chris is using his performative background to portray a new type of story - a story of financial success for his clients. By helping his fellow artists rethink their ability to handle money, he has found success in the niche he has created to help those with unique financial situations. His experience in growing his advisory practice teaches businesses both young and old that customizing a client’s experience and solidifying a client/planner relationship is the key to maintaining success.
Below, we’re sharing three key ideas from this episode: 

How to work with variable income clients
How mentorship and financial independence helped Chris start

What does it mean to think outside the box when it comes to financial planning? And what do financial advisors need to know about working with clients through turbulent and volatile events, such as the coronavirus pandemic? Today’s episode will explore some of those questions.
Lucas MacMillan has been working in personal finance for 10 years. He is a Certified Financial Planning Professional and graduated from the University of Manitoba with a Bachelor of Science. Lucas manages Camber Private Wealth’s financial planning effort; where all prospects are given a financial plan before investing and all clients receive ongoing financial planning support using Camber’s immersive custom financial dashboards. Lucas also leads Camber’s data science team.
What You’ll Learn in This Episode 

How Camber approaches building a plan with clients (5:43)
How client dashboards work and what their goal is (12:06)
How Lucas starts with dashboards (14:30)
The client response to recent market volatility (24:20)
The goal of Lucas’s data science project (30:49)
How Lucas’s firm has been acquiring clients (37:35)
Lucas’s advice for listeners (43:31)

Links and Resources:
Lucas MacMillan
Camber Private Wealth
Quotes by Lucas:
“We really wanted to go way outside the box on financial planning.”
“Just getting people a financial plan is a huge win.”
“It isn’t extremely important that you get their financial life 100% accurate the first time you touch them. It’s something that you can massage over time, as you get to know the client.”
Lucas provides a fresh perspective on the future of the financial planning industry. His practice is using technology and data science to change the way their clients interact with their financial plans, creating a unique way to attract and retain clients. Whether you’re a seasoned wealth manager who is comfortable with status quo, or you are building your financial advisory practice and want to employ fresh tactics, you can learn from the innovative ways Lucas approaches his work.
Below, we’re sharing three key ideas from this episode:

How Lucas customizes client experience using data visualization
How Camber is leveraging data to combat low conversion rates in the financial industry
The importance of client education and continuous marketing during times of financial instability

To tune in to the rest of the episode, find the podcast on iTunes or Stitcher, or hit the link at the top of this post. 
How Lucas Customizes his clients’ experience using data visualization