Secure Asset Management_020724_Episode 2 Bryan: [00:00:00] Welcome. It's a great day and we're excited to be here with Building Winning Practices Powered by Secure Today. We have a great podcast, it's number two of our podcast, and we've got Brian Dudley here and we have Randy Joseph, and we're gonna talk about what it takes to build a winning practice, what the proper blueprint is, what are some of the pitfalls in the industry, and we're excited to be here. So welcome and enjoy. Randy, why don't Randy: you say a few words? Alright, thanks Brian. It's good to be here. Good to be part of building winning practices. It certainly does define what we do and what our goal is. It's gonna be great to share some information today and some successes and some things to look out for. It should be very good and informative. Thank you. Good to be here. And we Bryan: also have Brian Dudley. Brian: Good morning. Good day. Thank you for having me. It's great to be here. It's great to be part of a team that does so many great things for advisors. Looking forward to a great conversation today about building [00:01:00] winning practices and keeping that theme going. So thank you for having me. I. One Bryan: of the things when it's advisors and it, and it all kind of comes down to the end client, right? So if we can help advisors, we're ultimately helping the end client, whether it's case design or just a, a back office support and in helping advisors work with their clients. Tell me some of the things that you're doing to help advisors Randy: grow. Well, let me step in here, Brian, and, and, uh, see if we can tackle that. There's a number of things that we do. When advisors have the work ethic and are willing to go out and make things happen and put forth the effort, great things can happen. And it's so important that when you do have that work ethic and you're willing to put forth that effort, that you do so in a very efficient and consistent way. And what I mean by that is some of the most successful advisors that we work with and that we've talked to, [00:02:00] they all have a proven. Really work in a proven program. A blueprint. A blueprint, exactly. And to work with a blueprint. And then you combine that with resources and to have a team behind you. So now you've got the effort. You've got the blueprint and you've got the team, you really become unstoppable. And Brian, yeah, Brian: I mean, I think from my end, you know, I, I have the privilege of, uh, you know, over my career, I've, I've worked with thousands of advisors and really have some great insights, you know, from working with those advisors over the years. And you know, the great insights to know what's working well, what has worked, what continues to work. And so I think nobody has a better opportunity right now than Secure Financial Group. It's exciting because Randy, you talk about the blueprint and you know, that's exactly what we do day in, day out, is work with advisors if they don't have that [00:03:00] blueprint or need to refine that blueprint, but just, you know, keeping advisors on track to grow their business. To make sure that the client is taken care of always, first and foremost, right? And then just helping them execute on that blueprint. And I think it is important, you know, the team, you mentioned that, and there's nothing better than having a good team behind you to support you every day, knowing that you can get access to not only the information, but people that can help execute. Bryan: So Brian, when you say you worked with thousands advisors, you. You had, um, a number of years ago you worked for TD Ameritrade. I think it it started as, uh, TD Brian: Waterhouse. Yeah. Well, I actually started on the Ameritrade side. Ameritrade. So I started, uh, got in the business back in 1999, joined a small custodian at the time, that was not a household name. Started there in 1999, got licensed, uh, got my series seven in 66 in 2004. And, um, really started working with advisors at that point in time, [00:04:00] and Ameritrade eventually became TD Ameritrade with the merger between TD Waterhouse and Ameritrade. And so had the privilege, uh, like I said, of, of working with advisors, you know, from about oh six till today. And, uh, you know, we, we've seen a lot of changes in the industry and that seems like forever ago. But, uh, the industry continues to evolve, will continue to do so, and I think, uh. Just advisors recognizing the changes that are occurring have occurred and what's kind of ahead in the future is really, is what is exciting to me in having those conversations with advisors and how their business kind of, um, evolves around those changes and, and what they do to adapt. That's exciting for me and it's really what motivates me every day to come into work and, and, uh, it doesn't seem like work, you know, it's not a job that. You're looking to clock out from immediately. So, Bryan: so kind of what you're saying is, is also all over the evolution of the business. You know, a lot of things stay the same, but you really need [00:05:00] to be looking to the future and seeing what's the next step and how can I be better at, at my practice and using the tools to become more efficient, to be able to grow because no matter what change is happening. Is that kinda what you're saying? Yeah, Brian: absolutely. I, I think, you know, day to day. A lot of the elements of the business are similar. It's, it's not like everything has changed, but there is, you know, I, I mean, uh, we continue to evolve down the path of, of advisors going more fee-based. You know, I know on the last podcast you had, uh, Mark Joseph, a, a former colleague and, and good friend of mine. Um, you know, and, and, um, you know, uh, he talked a little bit about, you know, the broker dealer and, you know, FINRA was. Um, you know, a thing that is, has changed many advisors practices and, and, and I think we continue to see kind of that, that movement more towards fee-based business, uh, that's been going on for years. And it, [00:06:00] and I think it continues to, to go down that, that route. Um, but yeah, it's, it's the little things, um, you know, that are changing with the business. It's not major shifts, uh, but, but focusing on what those, what those shifts are and kind of foreseen. Some of the trends, uh, where clients are, are, um, needing help and expertise and, and some of the things that, uh, that they're Bryan: doing kinda like, kinda, you know, maybe like AI or, or even perfect example, even compliance and, you know, what are some of the things that you're seeing on the horizon for, uh, the future for, in regards to Randy: compliance? Randy? Yeah, so, um, great question Brian. Compliance is, you know, an ever changing challenge, right? For advisors and firms and some of the things that have changed over the past year. I mean, if you think about it, there's so much more business being done remotely or electronically, right? Whether it's [00:07:00] Zoom or some of the other technology to communicate with clients and then. To, you know, have documents reviewed, signed electronically, and you know, that verification process and then. Archiving those documents and, and so the whole business has really evolved over the past couple years in that respect. But compliance topics is an ever changing landscape. The SEC is constantly putting out bulletins and, you know, whether it's Bitcoin Brian: or you know, other, Randy: other, uh, leveraged ETFs. It could be a number of topics that you need to be aware of and you need to stay within in the rules and within the lanes for Bryan: sure. It's also like the, the hackers and the, when you're, when you are having those outside offices or the technology, whether it be phones and all the scams that are taking place, I mean, I get AI calls, people calling, [00:08:00] saying that, that they are a robot and you can't tell the difference. It's something that we need to definitely be aware of. Brian: Yeah, cybersecurity is certainly a, a hot topic and uh, comes up on conversations quite a bit, but I think. From a compliance approach. I think it's, it's really, and I think, you know, one of the things that I hear from advisors is having a compliance team that really understands, you know, what the, what the request is, right. Or what the, um, you know, the reason behind the ask. Right. And I think one of the things that, um, you know, is, is, is great about Secure is, is that it's, you know. We're not one of those organizations that it's, you know, 10,000 advisors and you've gotta try to figure out how to, how to accommodate the, the largest swath of them. Uh, but it is having a conversation to really understand the reason for the request, um, and, and taking a look at all, all aspects of that request as [00:09:00] opposed. So it's, it's, it's how can we, how can we get to Yes. As opposed to coming out with a, with a no. And I hear that from advisors a lot, you know, where. Um, it just, it, it seems that, you know, compliance always becomes a barrier instead of a friendly ally, um, on the business side. Well, Randy: right, Brian, that's a great point. And with the larger organizations where you got 10,000 advisors from a compliance perspective, the easy answer for compliance is no. So Bryan: you're right on. So let's say it is being a little more hands on from the compliance and finding. Finding out where the right way to do things and to not cross the line. And ultimately it's protecting the client. Right? So compliance can be your friend if you view it the Brian: right way. Absolutely. I, I think it's, are you protecting the client? You know, are you doing what's in the client's best interest? Is it, uh, something that is good for the advisor? Is it, and is it good for the firm? Right. Does it put any of those at risk? [00:10:00] And I think those are the three questions that, that, that are always. And, a
