The Profitable Advisor Podcast Dan Cuprill, CFP

For those that don’t know, I volunteer at a local animal shelter near my house and spend time walking the dogs there. While this non-profit does tremendous work in the community, it doesn’t always operate very effectively as a business. That reminds me very much of the challenges that we see as advisors and there are some real insights that can carry over to what we have to deal with.
Today we want to share insights from his recent experiences at a local dog shelter and how they relate to the challenges faced by financial advisors. Let’s discuss the importance of effective volunteer recruitment, the parallels between running a non-profit and a financial advisory practice, and the necessity of constant marketing and client qualification.
 
Here’s some of what we discuss in this episode:
The importance of effective recruitment and finding the right people. Marketing strategies to help you attract clients. Why you don’t want to treat every prospect the same.  
Schedule a meeting with Dan: http://bookachatwithdan.com 
 
Read more and get additional financial resources here: http://renegadeadvisor.net 

Today we want to get into something that’s been a big part of our practice and should be an excellent opportunity for advisors in the future, especially if you’re in your 30s or 40s. What we’re talking about in this episode is buying a practice, which we believe is the quickest way to have instant revenue.
But it’s not without problems, which we will also discuss. So we’re going to share with you how the process works and breakdown our approach to buying another practice. There are plenty of financial considerations to sort through and weigh, and this episode will give you an idea of what we’re paying the most attention to.
We want to provide you some insights because we’ve been involved in a number of these as the acquirer but we’ll eventually be on the other side as the seller.
 
Here’s some of what we discuss in this episode:
Why buying another practice can create a great opportunity and could do so without a lot of risk. How you should structure the deal. What should you pay attention to when you’re acquiring a book of business.  
Schedule a meeting with Dan: http://bookachatwithdan.com 
 
Read more and get additional financial resources here: http://renegadeadvisor.net  

Are you a financial advisor dreaming of the day you can step back from the daily hustle and still ensure your practice prospers? Succession planning can be a challenge for advisors because few of us can really articulate what it is that we do on a daily basis that would allow someone to run the operation for us, and that makes it hard to step away. 
This is something I’ve had to do recently with my son, Wes, and we’ve identified seven areas that he has to be a master in before the torch can be passed effectively. That’s what we want to share with you in this episode. Let’s go through these seven things you need to do if you’re thinking about life after your business and hopefully shed some light on an area of planning that will be useful.
 
Here are some of the things we will discuss:
Know your numbers What you need to know about each of your clients. Understand staffing and what your business requires. Have a marketing system in place. Your replacement needs to be trained and knowledgeable. Understand the requirements for compliance. Have a strong knowledge of your partner companies.  
Schedule a meeting with Dan: http://bookachatwithdan.com 
 
Read more and get additional financial resources here: http://renegadeadvisor.net  
 

Fear is a very powerful emotion and it can hold us back from reaching our potential personally and professionally. I started thinking a lot more about this after a trip to Arkansas where I spent some time with business partners to share ideas on growth.
That’s why I invited Nina Cooke, author of Renegade Mindset, back to the show to help us work through this issue that plagues so many advisors and business owners. Fear can be a formidable foe and Nina has helped many people overcome these barriers to find success. We’ll dissect the roots of fear of failure and aim to arm you with the mindset needed to make bolder, more informed decisions.
 
Here’s some of what we discuss in this episode:
Why fear becomes such an easy excuse for business owners. Every advisor has to work through mistakes and failures to achieve success. How do we help people overcome this fear of failure? Are you going to be content by not trying new things and stepping outside of your comfort zone?  
Get Nina's Book: 
https://www.ninacooke.co.uk/
http://ninabook.org/
 
Schedule a meeting with Dan: http://bookachatwithdan.com 
 
Read more and get additional financial resources here: http://renegadeadvisor.net  

The very nature of the weather has always been like an investment portfolio in terms of unpredictability, and all the cold weather we’ve been dealing with to start 2024 has us thing about that. You could very easily use the weather to explain how a client’s portfolio is going to work over time and how you can prepare for that.
That’s the basis of today’s discussion, which is about a habit that many advisors have. They sell off their software using products like Riskalyze, which seems to work very well up front but presents challenges with long-term retention. I’ve been asked why I don’t use software like this so I want to provide you some insights on that in this episode.
 
Here’s some of what we discuss in this episode:
Why I have a problem with risk tolerance questionnaires. The problem that you face when using these programs to match their portfolio to risk tolerance. How we suggest approaching portfolio management and the conversations with clients about why you’re building it that way. The price for the upward is the occasional negative.  
Schedule a meeting with Dan: http://bookachatwithdan.com 
 
Read more and get additional financial resources here: http://renegadeadvisor.net  
 

As we turn the page on another new year, we hope you are excited about the start 2024 and focusing on hitting new milestones in your practice. Now, we know that people like making resolutions to start January, but resolutions are a bit silly when you think about it. If you want to make improvements personally or professionally, why wait for a new year to begin.
But we all go through these exercises and the results are almost always the same. Unless you truly want to make a change in your life, you’ll abandon these resolutions each and every time. The reason so many people fail to accomplish their resolutions is they don’t truly want change.
So let’s talk about some things you can do to make your life better, not just this year, but every year moving forward. We’ll share our own ideas and experiences that can hopefully help you both personally and professionally in 2024 and beyond.
 
Here’s some of what we discuss in this episode:
Where Dan stands on faith and how he’s changed drastically through his life. Small steps you can take to improve your life each day as it relates to faith. Fitness tips that Dan has applied to his life that are easy to incorporate into yours. Develop a profit-based model to grow revenue and help you achieve the lifestyle you want. Focusing on niches, technology, staffing, and entrepreneurship for your business.  
Schedule a meeting with Dan: http://bookachatwithdan.com 
Read more and get additional financial resources here: http://renegadeadvisor.net