The Profitable Advisor Podcast Dan Cuprill, CFP

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  
 

Women are different than men and what they value is different as well. That’s particularly true when it comes to financial services. For a long time, our industry has done a poor job at addressing the needs of women and have catered to men (and still do to a large extent).
What can you do to change that and become an effective marketer to women? Let’s talk about target marketing and developing your strategy around a certain audience. It’s not earth-shattering to hear that it works, but enough people don’t do it well and we want to help you change that.
We’ve discussed the reasons for focusing on a specific niche with your financial business, and women can and probably should be a priority for you. Women are positioned very well to benefit from the massive transfer of wealth that is happening with the Baby Boomer generation and will need help with managing that money. Many of these women will change advisors and move away from the person their husband had been working with to someone they’re more comfortable with. So let’s talk about how to make sure you’re marketing to women effectively and growing your business around this critical demographic.
 
Here’s some of what we discuss in this episode:
Why financial success often causes relationships in a family to deteriorate. Why we feel marketing to women is more important than ever. The different types of marketing mediums you should lean into. Should you still be doing seminars along with webinars? Have a story that people can connect to.  
Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com 
 
Read more and get additional financial resources here: http://renegadeadvisor.net  

Today we’re going to dive into a common dilemma faced by many financial advisors. What should you do when clients notice that cash is outperforming their portfolios? Do you give in to temptation? Do you shift everything to a guaranteed fix like an annuity, park it in cash, or adopt a market-timing attitude? The choices are numerous, and the pressure is real.
Listen in as we explore the complex terrain of client expectations, market unpredictability, and the timeless wisdom found in historical market patterns. Dan will share his approach to communicating openly with clients, acknowledging their concerns, and encouraging a long-term perspective.
 
Here’s some of what we discuss in this episode:
What factors should financial advisors consider when deciding whether to recommend a shift to cash or other investment vehicles? How does age and risk tolerance play a role in determining the best course of action for clients? How can advisors communicate effectively with clients during periods of market volatility? While cash may outperform in the short term, abandoning equities or chasing returns is not a sustainable strategy.  
Want to schedule a meeting with Dan? Click here: http://bookachatwithdan.com 
Read more and get additional financial resources here: http://renegadeadvisor.net