The Elite Financial Advisor Podcast With Sten Morgan

Sten Morgan
  • 5.0 (1)
  • Entrepreneurship
  • Updated weekly

A show for financial professionals who want to be challenged to achieve their true potential faster. You will gain practical knowledge that you can implement on Monday morning when you get into the office. You'll learn the true value of your advice and, if you want to, how to charge for that advice. Featuring Sten J. Morgan, CFP®, ChFC®, one of the nation's leading young Financial Advisors.

  1. 1 day ago

    250 Sten Morgan / PlanScore: The Advisor of the Future Sells a Process that Gets Results

    In this solo episode of the Elite Financial Advisor Podcast, Sten Morgan, CFP®, ChFC®, introduces PlanScore - the software his team built to deliver financial plans clients actually understand - and shares the journey that took him from selling products to selling a process. Sten walks through his path into the business on the insurance and AUM side, the moment he realized advisors could get paid for their time and ideas, and the roadblocks he hit adding financial planning: it was heavy, slow, and hard to scale. His answer became a mantra - maximum value with extreme efficiency - and a clear framework for what a complete financial plan actually covers. He breaks down the categories every plan should include, why scoring each one from 1 to 5 turns a plan into something clients can see and act on, and why the advisor of the future is a communicator and coach who sells a process, not a product. As Sten puts it: "The advisor of the future delivers a process, not a product." Try PlanScore Free (Code: PODCAST): PlanScore helps you build financial plans people actually understand - the complete-plan framework, a simple 1-to-5 scoring rubric, and a proposal built for you, so you deliver maximum value with extreme efficiency. Start your free trial and use code PODCAST for your first month free. Get PlanScore here: https://www.planscore.com/?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_250_planscore In This Episode Maximum value with extreme efficiency: deliver a plan that feels like it took 30 hours in an hour or less.You can get paid for your process. When clients pay for advice, they value it and actually follow through.Define a complete plan. A cash flow report and a Monte Carlo is not a plan; do not let clients believe a collection of products is one.Score every category from 1 to 5 (red, orange, green). Clients do not want to be red, and now they can see the path to green.The advisor of the future is a communicator and coach who sells a process, not a product. Episode Timestamps 00:00 - Launching PlanScore, and why we built it 00:40 - Maximum value with extreme efficiency 01:30 - Starting in insurance: trained to sell products 02:27 - The business owner I tried to talk out of his own business 03:30 - Moving to AUM: still gated by "do you have money to invest?" 04:00 - The $5,000 onboarding fee that broke my brain 05:00 - My first paid plan: $1,500 for 12 months 06:00 - Adding planning slowed the rest of the business 07:30 - Deciding what kind of advisor I wanted to be 08:30 - Where it broke down: expectations and the deliverable 10:00 - Simplicity is a gift: a plan people understand 11:00 - The categories of a complete financial plan 13:00 - Scoring each category 1 to 5 (red, orange, green) 15:00 - Building a plan in an hour instead of ten 17:00 - Pricing and the average planning fee 19:00 - Service models: 3-month, 12-month, and AUM-only 22:00 - PlanScore Light: re-energizing existing clients 25:00 - The advisor of the future sells a process 27:00 - Try PlanScore with code PODCAST Get the Free Episode Companion Guide: Want the cheat sheet for this episode? We turned the biggest ideas into a one-page companion guide - the complete-plan framework, key takeaways, and three action steps. Grab your free copy here: https://gobeelite.com/elite-advisor-podcast-companion-page?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_250_planscore Free Resources for Financial Advisors: Want to become a more elite advisor? Get our free course on how to become an Elite Advisor, plus training videos that show you how to whiteboard ideas with clients using real examples. Get the free resources here: https://gobeelite.com/elite-advisor-path-resources?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_250_planscore Get the Free Book: Value First Prospecting Most advisors were trained to sell first and hope trust shows up later. Value First Prospecting shows you how to create demand, lead with ideas, and turn first meetings into strategy conversations instead of sales meetings. You can claim a free copy of Sten Morgan's book, Value First Prospecting. Just cover shipping. Get the book here: https://gobeelite.com/free-book?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_250_planscore Attend Elite Advisor Live: Elite Advisor Live is our in-person training where advisors get the reps, feedback, and proven system to start charging for advice and clearly communicate their value. Learn more about Elite Advisor Live here: https://www.eliteadvisorlive.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_250_planscore Join Elite+: Elite+ is for advisors who are done dabbling and ready to become Elite. Inside Elite+, you get proximity, accountability, real-time coaching, and a complete operating system to help you remove resistance and grow at a higher level. Join Elite+ here: https://eadvisornetwork.com/join-ean?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_250_planscore Connect With Elite Advisor Network Website: https://www.eliteadvisornetwork.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_250_planscore Podcast: https://podcasts.apple.com/us/podcast/the-elite-financial-advisor-podcast-with-sten-morgan/id1601321140 LinkedIn: https://www.linkedin.com/company/elite-advisor-network YouTube: https://www.youtube.com/@EliteAdvisorNetwork Subscribe Subscribe for more conversations, training, and practical ideas to help financial advisors reject average and become elite. #EliteAdvisorNetwork #FinancialAdvisor #StenMorgan #FinancialPlanning #PlanScore #AdvisorGrowth #FinancialPlanningProcess

  2. 4 Sept

    249 Tim White / Estate & Tax Planning: The Biggest Untapped Growth Opportunity

    In this episode of the Elite Financial Advisor Podcast, Sten Morgan, CFP®, ChFC®, sits down with Tim White, Co-Founder and Chief Growth Officer of wealth.com, to make the case that estate and tax planning is the biggest untapped growth opportunity in the advisory business. Tim shares how he and his co-founders sold their fraud-prevention fintech to LexisNexis for $500 million, then built wealth.com after living through a broken, pen-and-paper estate planning referral themselves. He explains how the platform's AI reads existing plans in minutes, generates state-specific documents across all 50 states, and now folds in tax - the peanut butter and chocolate of a connected plan. They get practical about why estate planning deepens client relationships and unlocks the next generation, how advisors can deliver a comprehensive experience without becoming experts, and why "I'm too busy to evaluate new tools" is a warning sign, not a badge of honor. As Tim puts it: "It's about giving time back. It's not taking time away." In This Episode Estate planning is the biggest untapped growth opportunity, and the fastest way to a deeper, stickier client relationship.You do not have to become the expert. The right technology puts the equivalent of 500 analysts behind every advisor.Estate conversations surface held-away assets and unlock the next generation - real AUM and real wealth-transfer opportunities.Compliance is no longer the barrier; the barrier is change. "Too busy to evaluate new tools" is a red flag.Done right, technology gives time back instead of taking it away, so advisors can have the conversations that matter. Episode Timestamps 00:00 - Introduction: how do advisors get attention differently? 01:00 - From a fintech fraud startup to a $500M exit 02:30 - Buying wealth.com (and the domain story) 04:40 - Why legal first, then tax 05:30 - "Ester": AI that read estate plans before ChatGPT existed 07:15 - Shipping a product instead of chasing perfection 08:30 - The shift from "I know a guy" to comprehensive planning 09:20 - Why estate planning is becoming a tech-stack requirement 11:00 - Adding value with efficiency: you do not have to be the expert 13:40 - Reading existing plans in minutes, not hours 17:20 - What wealth.com actually is: documents, reports, attorney network 19:15 - Proactive intelligence: the plan that updates itself 20:00 - Estate planning as a prospecting tool and AUM unlock 21:40 - Pricing: the license and how advisors monetize it 23:00 - Is AI a threat to estate attorneys? Why it is complementary 24:50 - Why advisors are slow to adopt, and how to fix it 27:00 - Giving time back, not taking it away Get the Free Episode Companion Guide: Want the cheat sheet for this episode? We turned the biggest ideas into a one-page companion guide - the estate planning growth path, key takeaways, and three action steps. Grab your free copy here: https://gobeelite.com/elite-advisor-podcast-companion-page?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_249_tim_white Free Resources for Financial Advisors: Want to become a more elite advisor? Get our free course on how to become an Elite Advisor, plus training videos that show you how to whiteboard ideas with clients using real examples. Get the free resources here: https://gobeelite.com/elite-advisor-path-resources?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_249_tim_white Get the Free Book: Value First Prospecting Most advisors were trained to sell first and hope trust shows up later. Value First Prospecting shows you how to create demand, lead with ideas, and turn first meetings into strategy conversations instead of sales meetings. You can claim a free copy of Sten Morgan's book, Value First Prospecting. Just cover shipping. Get the book here: https://gobeelite.com/free-book?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_249_tim_white Attend Elite Advisor Live: Elite Advisor Live is our in-person training where advisors get the reps, feedback, and proven system to start charging for advice and clearly communicate their value. Learn more about Elite Advisor Live here: https://www.eliteadvisorlive.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_249_tim_white Join Elite+: Elite+ is for advisors who are done dabbling and ready to become Elite. Inside Elite+, you get proximity, accountability, real-time coaching, and a complete operating system to help you remove resistance and grow at a higher level. Join Elite+ here: https://eadvisornetwork.com/join-ean?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_249_tim_white Connect With Elite Advisor Network Website: https://www.eliteadvisornetwork.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_249_tim_white Podcast: https://podcasts.apple.com/us/podcast/the-elite-financial-advisor-podcast-with-sten-morgan/id1601321140 LinkedIn: https://www.linkedin.com/company/elite-advisor-network YouTube: https://www.youtube.com/@EliteAdvisorNetwork Subscribe Subscribe for more conversations, training, and practical ideas to help financial advisors reject average and become elite. #EliteAdvisorNetwork #FinancialAdvisor #StenMorgan #FinancialPlanning #EstatePlanning #TaxPlanning #AdvisorGrowth

  3. 28 Aug

    248 Carl Richards & Steve Sanduski / How Will Our Industry Change in the Next 10 Years?

    In this episode of the Elite Financial Advisor Podcast, Sten Morgan, CFP®, ChFC®, sits down with two of the most thoughtful voices in the profession - Carl Richards, CFP®, creator of the Sketch Guy column and founder of The Society of Advice, and Steve Sanduski, CFP®, founder of Belay Advisor and host of the Between Now and Success podcast - to war-game how financial advice will change over the next ten years. They dig into the two layers of every advisory practice: the execution layer that AI is rapidly automating, and the human layer it cannot touch. As the technical work becomes table stakes, the floor for what counts as a great advisor rises, and Carl and Steve make the case that the future advisor has to be bilingual: fluent in money and fluent in humans. They also get practical about where the business is headed - whether AUM and commission comp survive, why clients pay for trust and outcomes rather than process, and how a young advisor can intentionally build the craft of curiosity instead of waiting for life to humble them. As Carl puts it: "AI is not a threat. It is a reminder of the deeply human work we do." In This Episode Every practice has two layers: the execution layer AI is automating, and the human layer it cannot. The human layer is where advisors win.The floor is rising. A great financial plan is becoming table stakes; the EQ to sit with clients in their hardest moments is the real edge.Be bilingual. Major in money and major in humans. The messy intersection of the two is where the value lives.Greet clients at the "presenting problem" with empathy, then watch for the "crunchy bits" that open the door to deeper work.The way you get paid tells a story. If any part of it is something you would not be comfortable explaining to a client's face, change it. Episode Timestamps 00:00 - Introduction: sailing, motorcycles, and catching up 04:30 - The war game: what should advisors be ready for? 05:45 - Carl: the deeply human craft AI is pointing us back to 09:00 - Steve: the execution layer versus the human layer 11:00 - Will AI actually increase an advisor's capacity? 13:00 - Advice to the next generation of advisors 16:00 - Be bilingual: major in money and major in humans 19:00 - Why life planning is a small market at any given moment 20:30 - Greet clients at the presenting problem 23:30 - Will AUM and insurance comp survive? 29:00 - Carl: the way you get paid tells a story 31:20 - From stockbrokers to goal-based planning 35:00 - Process versus outcome in the age of AI 38:40 - You cannot market trust, you can only build it 43:30 - A practical path to the craft of curiosity 48:00 - What has these two most excited right now Get the Free Episode Companion Guide: Want the cheat sheet for this episode? We turned the biggest ideas into a one-page companion guide - the two layers of an advisory practice, key takeaways, and three action steps. Grab your free copy here: https://gobeelite.com/elite-advisor-podcast-companion-page?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_248_richards_sanduski Free Resources for Financial Advisors: Want to become a more elite advisor? Get our free course on how to become an Elite Advisor, plus training videos that show you how to whiteboard ideas with clients using real examples. Get the free resources here: https://gobeelite.com/elite-advisor-path-resources?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_248_richards_sanduski Get the Free Book: Value First Prospecting Most advisors were trained to sell first and hope trust shows up later. Value First Prospecting shows you how to create demand, lead with ideas, and turn first meetings into strategy conversations instead of sales meetings. You can claim a free copy of Sten Morgan's book, Value First Prospecting. Just cover shipping. Get the book here: https://gobeelite.com/free-book?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_248_richards_sanduski Attend Elite Advisor Live: Elite Advisor Live is our in-person training where advisors get the reps, feedback, and proven system to start charging for advice and clearly communicate their value. Learn more about Elite Advisor Live here: https://www.eliteadvisorlive.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_248_richards_sanduski Join Elite+: Elite+ is for advisors who are done dabbling and ready to become Elite. Inside Elite+, you get proximity, accountability, real-time coaching, and a complete operating system to help you remove resistance and grow at a higher level. Join Elite+ here: https://eadvisornetwork.com/join-ean?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_248_richards_sanduski Connect With Elite Advisor Network Website: https://www.eliteadvisornetwork.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_248_richards_sanduski Podcast: https://podcasts.apple.com/us/podcast/the-elite-financial-advisor-podcast-with-sten-morgan/id1601321140 LinkedIn: https://www.linkedin.com/company/elite-advisor-network YouTube: https://www.youtube.com/@EliteAdvisorNetwork Subscribe Subscribe for more conversations, training, and practical ideas to help financial advisors reject average and become elite. #EliteAdvisorNetwork #FinancialAdvisor #StenMorgan #FinancialPlanning #AdvisorGrowth #ArtificialIntelligence #FutureOfAdvice

  4. 21 Aug

    247 Tim Maurer / The Biggest Lie Financial Advisors Were Sold

    In this episode of the Elite Advisor Podcast, Sten Morgan, CFP®, ChFC®, sits down with Tim Maurer, CFP®, Partner and SVP of Advisor Growth at SignatureFD, to expose the biggest lie the industry sold financial advisors: that growing means selling harder - using better scripts and more products. Tim shares how he spent his early career hunting for the "professional version" of financial advice, why the CFP coursework revealed a real craft, and why the best advisors win with the best questions, not the best answers. He makes the case that we are in a "system one" business where clients decide emotionally, so technical knowledge is only table stakes. They also get practical about becoming the advisor of the future: how to keep client conversations alive instead of sliding into a rut, why the industry quietly breeds burnout, and the permission most advisors need: to build a practice around who they actually are, not what they do. As Tim puts it: "Doing the work creates certainty. Winning the work creates possibility." In This Episode The biggest lie: that selling harder and pushing product is how you grow. The best advisors do it differently.Doing the work vs winning the work: expertise creates certainty, but curiosity and great questions create possibility.We are in a "system one" business - clients decide emotionally. Technical mastery is table stakes; connection is the edge.Be a guide, not a teacher or a consultant - someone walking beside the client, not above them.The industry quietly breeds burnout. You have permission to build a practice around who you actually are. Episode Timestamps 00:00 - Introduction 00:29 - Getting Into the Business the Hard Way 05:00 - Where Is the Industry Actually Going? 08:04 - The CFP Coursework and Finding the Craft 11:30 - From Technician to Guide 14:15 - Know Your "S Word": The Behavioral Edge 16:56 - Practice, Curiosity, and the Coaching Pyramid 23:00 - Why the Industry Breeds Burnout 32:12 - The 80/20 of Adding Planning Get the Free Episode Companion Guide: Want the cheat sheet for this episode? We turned the biggest ideas into a one-page companion guide - the advisor development path, key takeaways, and three action steps. Grab your free copy here: https://gobeelite.com/elite-advisor-podcast-companion-page?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_247_tim_maurer Free Resources for Financial Advisors: Want to become a more elite advisor? Get our free course on how to become an Elite Advisor, plus training videos that show you how to whiteboard ideas with clients using real examples. Get the free resources here: https://gobeelite.com/elite-advisor-path-resources?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_247_tim_maurer Get the Free Book: Value First Prospecting Most advisors were trained to sell first and hope trust shows up later. Value First Prospecting shows you how to create demand, lead with ideas, and turn first meetings into strategy conversations instead of sales meetings. You can claim a free copy of Sten Morgan's book, Value First Prospecting. Just cover shipping. Get the book here: https://gobeelite.com/free-book?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_247_tim_maurer Attend Elite Advisor Live: Elite Advisor Live is our in-person training where advisors get the reps, feedback, and proven system to start charging for advice and clearly communicate their value. Learn more about Elite Advisor Live here: https://www.eliteadvisorlive.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_247_tim_maurer Join Elite+: Elite+ is for advisors who are done dabbling and ready to become Elite. Inside Elite+, you get proximity, accountability, real-time coaching, and a complete operating system to help you remove resistance and grow at a higher level. Join Elite+ here: https://eadvisornetwork.com/join-ean?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_247_tim_maurer Connect With Elite Advisor Network Website: https://www.eliteadvisornetwork.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_247_tim_maurer Podcast: https://podcasts.apple.com/us/podcast/the-elite-financial-advisor-podcast-with-sten-morgan/id1601321140 LinkedIn: https://www.linkedin.com/company/elite-advisor-network YouTube: https://www.youtube.com/@EliteAdvisorNetwork Subscribe Subscribe for more conversations, training, and practical ideas to help financial advisors reject average and become elite. #EliteAdvisorNetwork #FinancialAdvisor #StenMorgan #FinancialPlanning #AdvisorGrowth #BehavioralFinance #FeeOnly

  5. 14 Aug

    246 Shruti Joshi / The Financial Advisor Model Is Changing - Are You Ready?

    In this episode of Elite Advisor Podcast, Sten Morgan sits down with Shruti Joshi, President and COO of Facet, to unpack where financial advice is heading - and why the future advisor is defined by holistic, ongoing planning rather than the products they sell. Shruti explains why consumers now want an accountability partner who helps them take action, how Facet's flat-fee, CFP-led model removes the conflicts of commissions and asset-based fees, and why the real superpower in an AI world is human connection and behavior change - what she calls "therapy with a calculator." They also get practical for advisors: how to align your service model and pricing, why planning is the product and investing is how you deliver it, and the small steps any advisor can take to adapt without abandoning what already works. If you have felt the ground shifting under the old model, this conversation shows what to do about it. In This Episode The future advisor leads with holistic, dynamic planning, not products, because that is what consumers now demand.Objectivity builds trust: a flat fee with no commissions or asset-based conflicts is what drives real behavior change.Technology plus humans wins. AI handles the computation; your superpower is communication, accountability, and encouragement.Planning is the product and investing is how you deliver it - the opposite of giving away the plan to win assets.You can evolve in small steps. Align your service model and pricing to who you actually serve, without abandoning AUM or insurance. Episode Timestamps 00:00 - Introduction 00:38 - Where Financial Advice Is Heading 02:05 - Money, Stress, and What Consumers Really Want 05:16 - Redefining What "Financial Advisor" Means 08:18 - Therapy With a Calculator: The Human Superpower 09:48 - Facet's Flat-Fee, No-Commission Model 12:29 - Aligning Your Service Model and Pricing 15:54 - How to Start Becoming a Different Advisor 32:17 - Maslow and the Top of Financial Planning Get the Free Episode Companion Guide: Want the cheat sheet for this episode? We turned the biggest ideas into a one-page companion guide - the future-advisor shift, key takeaways, and three action steps. Grab your free copy here: https://gobeelite.com/elite-advisor-podcast-companion-page?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_246_shruti_joshi Free Resources for Financial Advisors: Want to become a more elite advisor? Get our free course on how to become an Elite Advisor, plus training videos that show you how to whiteboard ideas with clients using real examples. Get the free resources here: https://gobeelite.com/elite-advisor-path-resources?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_246_shruti_joshi Get the Free Book: Value First Prospecting Most advisors were trained to sell first and hope trust shows up later. Value First Prospecting shows you how to create demand, lead with ideas, and turn first meetings into strategy conversations instead of sales meetings. You can claim a free copy of Sten Morgan's book, Value First Prospecting. Just cover shipping. Get the book here: https://gobeelite.com/free-book?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_246_shruti_joshi Attend Elite Advisor Live: Elite Advisor Live is our in-person training where advisors get the reps, feedback, and proven system to start charging for advice and clearly communicate their value. Learn more about Elite Advisor Live here: https://www.eliteadvisorlive.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_246_shruti_joshi Join Elite+: Elite+ is for advisors who are done dabbling and ready to become Elite. Inside Elite+, you get proximity, accountability, real-time coaching, and a complete operating system to help you remove resistance and grow at a higher level. Join Elite+ here: https://eadvisornetwork.com/join-ean?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_246_shruti_joshi Connect With Elite Advisor Network Website: https://www.eliteadvisornetwork.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_246_shruti_joshi Podcast: https://podcasts.apple.com/us/podcast/the-elite-financial-advisor-podcast-with-sten-morgan/id1601321140 LinkedIn: https://www.linkedin.com/company/elite-advisor-network YouTube: https://www.youtube.com/@EliteAdvisorNetwork Subscribe Subscribe for more conversations, training, and practical ideas to help financial advisors reject average and become elite. #EliteAdvisorNetwork #FinancialAdvisor #StenMorgan #FinancialPlanning #FutureOfAdvice #FeeOnly #AdvisorGrowth

  6. 7 Aug

    245 Marc Adams / Why 9 Out of 10 Business Owners Never Sell Their Business

    In this episode of Elite Advisor Podcast, Sten Morgan sits down with Marc Adams, founder of Acquisitions4you and author of Secrets to 10Xing Your Business and Cashing Out Tax Free, to unpack a hard truth most business-owner clients never hear: nine out of ten businesses never actually sell. Marc explains why the dream of owning a business so often becomes a prison, how fees and taxes quietly eat half the sale price in states like California and New York, and how his "double and exit" approach aims to double a company's value in about six months without equity dilution, debt, or personal guarantees. For advisors, this is a masterclass in the business-owner conversation: the options every owner should understand, why most only face the math too late, and how giving the business its own dedicated meeting can set you apart. If you want to serve owners with more confidence, this one will change how you frame the exit. In This Episode Nine out of ten businesses never sell - and owners rarely find out until they are six months from the exit and the math no longer works.Leakage is the silent killer: between professional fees and taxes, an owner can keep as little as half the sale price. Get leakage down toward 10% and everything changes.The "double and exit" idea: group similar businesses into a larger entity that commands a bigger multiple, so owners walk away with more without diluting, borrowing, or signing personal guarantees.Know the roll-up math: when PE or VC takes half your business, you have to double it just to get back to even. Understand the second bite, earnouts, and where AI adds risk.The advisor's edge: you do not have to be the expert in every exit path, but a great advisor can lay out all the options and give the business its own conversation. Episode Timestamps 00:00 - Introduction 01:40 - Serving Business Owners: The Opportunity and the Intimidation 02:16 - The "Double and Exit" Framework 03:15 - The Origin: A Diagnosis and a Son's Question 08:02 - Why the Dream Becomes a Prison 13:17 - Why Owners Don't Realize 9 in 10 Never Sell 20:46 - How Roll-Ups Work and Who Actually Wins 27:10 - The Advisor's Move: Give the Business Its Own Meeting Get the Free Episode Companion Guide: Want the cheat sheet for this episode? We turned the biggest ideas into a one-page companion guide - the exit-value framework, key takeaways, and three action steps. Grab your free copy here: https://gobeelite.com/elite-advisor-podcast-companion-page?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_245_marc_adams Free Resources for Financial Advisors: Want to become a more elite advisor? Get our free course on how to become an Elite Advisor, plus training videos that show you how to whiteboard ideas with clients using real examples. Get the free resources here: https://gobeelite.com/elite-advisor-path-resources?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_245_marc_adams Get the Free Book: Value First Prospecting Most advisors were trained to sell first and hope trust shows up later. Value First Prospecting shows you how to create demand, lead with ideas, and turn first meetings into strategy conversations instead of sales meetings. You can claim a free copy of Sten Morgan's book, Value First Prospecting. Just cover shipping. Get the book here: https://gobeelite.com/free-book?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_245_marc_adams Attend How to Charge LIVE: How to Charge LIVE is our in-person training where advisors get the reps, feedback, and proven system to start charging for advice and clearly communicate their value. Learn more about How to Charge LIVE here: https://www.howtochargelive.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_245_marc_adams Join Elite Plus: Elite Plus is for advisors who are done dabbling and ready to become Elite. Inside Elite Plus, you get proximity, accountability, real-time coaching, and a complete operating system to help you remove resistance and grow at a higher level. Join Elite Plus here: https://eadvisornetwork.com/join-ean?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_245_marc_adams Connect With Elite Advisor Network Website: https://www.eliteadvisornetwork.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_245_marc_adams Podcast: https://podcasts.apple.com/us/podcast/the-elite-financial-advisor-podcast-with-sten-morgan/id1601321140 LinkedIn: https://www.linkedin.com/company/elite-advisor-network YouTube: https://www.youtube.com/@EliteAdvisorNetwork Subscribe Subscribe for more conversations, training, and practical ideas to help financial advisors reject average and become elite. #EliteAdvisorNetwork #FinancialAdvisor #StenMorgan #BusinessOwners #ExitPlanning #FinancialPlanning #AdvisorGrowth

  7. 31 Jul

    244 Andy Schwartz / The Truth About Building an $18 Billion Advisory Firm

    In this episode of Elite Advisor Podcast, Sten Morgan sits down with Andy Schwartz, CFP®, CEO and Managing Partner of OnePoint BFG Wealth Partners, to unpack a 42-year career that grew from selling life insurance in college to helping lead a firm with roughly $18 billion in assets. Andy shares why he moved early from sale-by-sale income to recurring revenue, why "he who controls the money controls the relationship," and how alignment, capacity, and scale give advisors the confidence to win in the marketplace. They also get honest about the real trade-offs of running your own RIA versus tucking into a larger firm, how firm valuations and partner true-ups actually work, and why the next five years may belong to the mega-firm. If you are deciding how to build the next chapter of your business, this conversation is a rare look inside how a top advisor thinks. In This Episode Recurring revenue changes everything: building a business that is not reliant on making your income sale by sale is the shift that compounds over a career.Confidence wins clients: most of the difference between winning a client and losing one is the confidence that only real capacity and scale can give you.Financial planning can be its own vertical: fee-based planning is a legitimate, scalable offering - and often the best on-ramp for younger advisors.Owner vs advisor is a real choice: do not let your ego pick for you. If you love being client-facing, tucking into a firm with scale can get you twice as big in half the time.Understand the math before you sell: true-ups, EBITDA multiples, and the move toward mega-firms may mean smaller books are worth less over time, not more. Episode Timestamps 00:00 - Introduction: A 42-Year Career 00:39 - From Selling Insurance to Controlling the Money 04:27 - The Northwestern Years and Recurring Revenue 07:10 - Is the Industry Really Doing Holistic Planning? 09:42 - Confidence, Capacity, and Why Scale Wins 11:00 - Financial Planning as Its Own Vertical 16:17 - OnePoint BFG by the Numbers 18:04 - RIA Owner vs Tucking In: The Real Trade-off 21:14 - Valuations, True-Ups, and the Mega-Firm Era 29:07 - Who OnePoint BFG Looks For 30:52 - Next-Gen Talent and the AI Investment Get the Free Episode Companion Guide: Want the cheat sheet for this episode? We turned the biggest ideas into a one-page companion guide - the advisor-to-owner arc, key takeaways, and three action steps. Grab your free copy here: https://gobeelite.com/elite-advisor-podcast-companion-page?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_244_andy_schwartz Free Resources for Financial Advisors: Want to become a more elite advisor? Get our free course on how to become an Elite Advisor, plus training videos that show you how to whiteboard ideas with clients using real examples. Get the free resources here: https://gobeelite.com/elite-advisor-path-resources?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_244_andy_schwartz Get the Free Book: Value First Prospecting Most advisors were trained to sell first and hope trust shows up later. Value First Prospecting shows you how to create demand, lead with ideas, and turn first meetings into strategy conversations instead of sales meetings. You can claim a free copy of Sten Morgan's book, Value First Prospecting. Just cover shipping. Get the book here: https://gobeelite.com/free-book?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_244_andy_schwartz Attend How to Charge LIVE: How to Charge LIVE is our in-person training where advisors get the reps, feedback, and proven system to start charging for advice and clearly communicate their value. Learn more about How to Charge LIVE here: https://www.howtochargelive.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_244_andy_schwartz Join Elite Plus: Elite Plus is for advisors who are done dabbling and ready to become Elite. Inside Elite Plus, you get proximity, accountability, real-time coaching, and a complete operating system to help you remove resistance and grow at a higher level. Join Elite Plus here: https://eadvisornetwork.com/join-ean?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_244_andy_schwartz Connect With Elite Advisor Network Website: https://www.eliteadvisornetwork.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_244_andy_schwartz Podcast: https://podcasts.apple.com/us/podcast/the-elite-financial-advisor-podcast-with-sten-morgan/id1601321140 LinkedIn: https://www.linkedin.com/company/elite-advisor-network YouTube: https://www.youtube.com/@EliteAdvisorNetwork Subscribe Subscribe for more conversations, training, and practical ideas to help financial advisors reject average and become elite. Tags: #EliteAdvisorNetwork #FinancialAdvisor #StenMorgan #ValueFirstProspecting #FinancialPlanning #AdvisorMarketing #AdvisorGrowth

  8. 24 Jul

    243 Matt Sonnen / The Moment You Stop Being an Advisor and Start Being a Business Owner

    In this episode of Elite Advisor Podcast, Sten Morgan sits down with Coldstream COO Matt Sonnen to talk about the shift from thinking like a salesperson to running an actual business - and how to get there faster than the industry's slow default path. They discuss why "all revenue is good revenue" holds advisors back, how a tight ideal client dissolves most operational headaches, and how financial advisors can build a firm that thrives without them. If you're ready to stop settling for comfortable and start building at your highest level, this conversation will challenge how you think about your business, your value, and the impact you create for clients. In This Episode Most advisors were trained as salespeople chasing the next client, not as business owners who think about client profitability - and that shift is the whole game.Nearly every operational headache traces back to a fuzzy ideal client. Niche tight and your tech, meeting agendas, and hiring all get simpler.Positions before people: build the org chart around the roles your process needs, then fill the boxes - instead of hiring smart people and inventing jobs for them.Be honest about whether you even want to be a business owner. There's no shame in staying an advisor - but if you start an RIA, the owner hat is coming.A practical move this week: cull the clients who don't fit your process, and get one clean count of who you actually serve before layering AI on messy data. Episode Timestamps 00:00 - Introduction: The Advisor-to-Owner Arc 01:07 - Why Advisors Think "All Revenue Is Good Revenue" 01:59 - Matt's Aha: Learning Client Profitability Early 06:57 - Every Problem Traces to a Fuzzy Ideal Client 10:40 - Positions Before People: The Org Chart and EOS 13:18 - Build a Business That Thrives Without You 16:03 - Be Honest: Do You Even Want to Be an Owner? 22:15 - The COO / Integrator Role and Why It's Hard to Fill Join Our Free Live Webinar - July 29 at 2PM Central: R&D Webinar: Elite Advisors Prospect with Ideas not Products. Save your seat here: https://gobeelite.com/rd?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_243_matt_sonnen Get the Free Episode Companion Guide: Want the cheat sheet for this episode? We turned the biggest ideas into a one-page companion guide - the advisor-to-owner arc, key takeaways, and three action steps. Grab your free copy here: https://gobeelite.com/elite-advisor-podcast-companion-page?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_243_matt_sonnen Free Resources for Financial Advisors: Want to become a more elite advisor? Get our free course on how to become an Elite Advisor, plus training videos that show you how to whiteboard ideas with clients using real examples. Get the free resources here: https://gobeelite.com/elite-advisor-path-resources?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_243_matt_sonnen Get the Free Book: Value First Prospecting Most advisors were trained to sell first and hope trust shows up later. Value First Prospecting shows you how to create demand, lead with ideas, and turn first meetings into strategy conversations instead of sales meetings. You can claim a free copy of Sten Morgan's book, Value First Prospecting. Just cover shipping. Get the book here: https://gobeelite.com/free-book?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_243_matt_sonnen Attend How to Charge LIVE: If you want more revenue, more confidence, and a clearer planning process, you do not need more theory. You need reps, feedback, and a proven system. How to Charge LIVE is our in-person training experience where advisors learn how to start charging for advice and communicate their value. Learn more about How to Charge LIVE here: https://www.howtochargelive.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_243_matt_sonnen Join Elite Plus: Elite Plus is for advisors who are done dabbling and ready to become Elite. Inside Elite Plus, you get proximity, accountability, real-time coaching, and a complete operating system to help you remove resistance and grow at a higher level. Join Elite Plus here: https://eadvisornetwork.com/join-ean?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_243_matt_sonnen Connect With Elite Advisor Network Website: https://www.eliteadvisornetwork.com?utm_source=shownotes&utm_medium=podcast&utm_campaign=ep_243_matt_sonnen Podcast: https://podcasts.apple.com/us/podcast/the-elite-financial-advisor-podcast-with-sten-morgan/id1601321140 LinkedIn: https://www.linkedin.com/company/elite-advisor-network YouTube: https://www.youtube.com/@EliteAdvisorNetwork Subscribe Subscribe for more conversations, training, and practical ideas to help financial advisors reject average and become elite. #EliteAdvisorNetwork #FinancialAdvisor #StenMorgan #ValueFirstProspecting #FinancialPlanning #AdvisorMarketing #AdvisorGrowth

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About

A show for financial professionals who want to be challenged to achieve their true potential faster. You will gain practical knowledge that you can implement on Monday morning when you get into the office. You'll learn the true value of your advice and, if you want to, how to charge for that advice. Featuring Sten J. Morgan, CFP®, ChFC®, one of the nation's leading young Financial Advisors.

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