Modern Financial Advisor

finservMarketing
Modern Financial Advisor Podcast

The Modern Financial Advisor Podcast shines a light on innovative strategies, solutions, and ideas shared by guests who are driving the wealth management industry forward in new and exciting ways. The show is hosted by Mike Langford and produced by finservMarketing.

  1. AUG 29

    How An Innovative New Solution For Donor Advised Funds Is Helping Financial Advisors Build Deeper Relationships With Client Households

    Adam Nash, the co-founder and CEO of Daffy joins Mike Langford to explore the power of donor advised funds for creating opportunities for your clients and their families to make the kind of meaningful impact they want on the world. Daffy, which is short for "Donor Advised Funds For You" is an innovative solution designed to make it easier for financial advisors and their clients to collaborate on plans for charitable giving. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Resources Mentioned In This Episode: How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients - Mykolas Rambus of HushReimagining Estate Planning As Helping Clients Make Premade Decisions For Their Loved Ones - Andrew Crowell of D.A. DavidsonWhat Exactly Is Sustainable Investing? And Why Are Today's Clients Demanding It? - Peter Krull of Earth Equity Advisors Chapters 00:00 Introduction to Donor Advised Funds and Charitable Giving 02:23 The Need for Innovation in Donor Advised Funds 05:41 The Importance of Setting Goals for Charitable Giving 11:20 The Lack of Innovation in the Donor Advised Fund Industry 15:26 Engaging Multiple Generations in Charitable Giving 19:12 The Universal Value of Giving 21:06 Using Technology to Make Giving Easier 22:32 Incorporating Charitable Giving into Financial Plans 22:45 Using DAFI Features with Clients: A Guide for Financial Advisors 26:22 Incorporating Charitable Giving into Financial Planning: Tips for Advisors 32:03 Tax Strategies and Charitable Giving: A Winning Conversation for Advisors 38:38 Collaboration and Surprising Benefits in the Donor Advised Fund Industry

    45 min
  2. AUG 21

    How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients

    Mykolas Rambus, Co-Founder and CEO of Hush and Mike Langford discuss the scale of a high net worth client's digital footprint and the potential risks associated with it. They also talk about the creation of WealthX, a database of wealthy individuals, and how it led to the development of Hush, a tool that helps individuals protect their online privacy. The conversation covers topics such as cybersecurity, social engineering, and the risks posed by family members. The episode provides valuable insights and action items for financial advisors and their clients. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Related To This Episode: Protecting Your Clients And Your Firm From Financial Fraud - Andrew Crowell of D.A. Davidson shared his perspective on protecting clients from financial fraud.Wealth-X - Mykolas and Mike mentioned Wealth-X multiple times in this episode. Chapters 00:00 Introduction 02:44 The Scale of a High Net Worth Client's Digital Footprint 04:36 The Creation of WealthX and the Development of Hush 08:22 Finding Information and Building Dossiers 11:14 The Need for Hush and Protecting Online Privacy 17:20 Cybersecurity and Awareness for Financial Advisors 21:55 Risks Posed by Family Members and Precautions to Take 25:03 Conclusion and the Importance of Online Privacy 26:03 The Growing Threat of Extortion and Sex Extortion 28:01 The Rise of Sim Swapping and the Importance of Cell Phone Security 31:20 Protecting Personal Information with Hush 45:19 Advisors and Hush: Enhancing Security for High Net Worth Individuals

    52 min
  3. AUG 1

    Why Long-Term Care Insurance Should Likely Be A Part Of Every Client’s Financial Plan

    Larry Nisenson, Chief Commercial Officer at Assured Allies and Mike Langford discusses the need for financial advisors to have conversations about long-term care insurance with their clients. As Mike emphasizes in the episode's intro, the probability of clients needing long-term care is high, and the cost of securing long-term care is also high. Larry and Mike cover statistics on the need for long-term care, the challenges of discussing it with clients, and the importance of planning for long-term care in financial advice. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Resources Mentioned In This Episode: "Is Your Home Ready to Age With You?" - Blog post on the Assured Allies with guidance on the steps your clients may need to take to ensure their house is ready to support their needs in the elder years.Modern Financial Advisor Podcast episode featuring Jay Zigmont of Childfree Wealth.goRIA with InvestmentNews - https://inpartners.investmentnews.com/goria/p/1Zvi Bodie's website. He was my favorite professor at Boston University.Agents.NeverStop.com - This is the site that Larry mentioned you should visit to learn more about Long-Term Care Insurance. Chapters 00:00 The Need for Long-Term Care Insurance 03:45 The High Probability and Cost of Long-Term Care 09:22 Challenges of Discussing Long-Term Care with Clients 12:14 Including Long-Term Care Planning in Financial Advice 20:37 Building Relationships through Long-Term Care Conversations 26:06 Protecting Advisors from Potential Litigation 31:22 Planning for Long-Term Care 32:18 Aging in Place 40:29 Financial Tools for Long-Term Care Planning 49:00 Starting Early: Discussing Long-Term Care Options 52:25 Long-Term Care for Child-Free Clients

    1h 2m
  4. JUL 23

    Reimagining Estate Planning As Helping Clients Make Premade Decisions For Their Loved Ones

    Andrew Crowell, Vice Chairman of Wealth Management at D.A. Davidson returns to the show to explore a new perspective on estate planning: pre-making decisions for heirs and loved ones. Andrew and show host Mike Langford emphasize the importance of having conversations early and often to prevent emotional duress and ensure that family members are aware of the individual's wishes. They also discuss the significance of planning for digital assets, including passwords and online accounts. The conversation highlights the need for clear instructions on how to handle sentimental or private items after someone's passing. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Resources Mentioned In This Episode: Why Financial Advisors Should Teach Financial Literacy - Andrew's first appearance on the Modern Financial Advisor podcast.Protecting Your Clients And Your Firm From Financial Fraud - Andrew's second episode of the Modern Financial Advisor podcast."Life's Key Moments" - This is the D.A. Davidson resource Andrew mentioned toward the end of the episode. Chapters 00:00 Introduction: Improving Sound Quality with PodBox 01:26 A New Perspective on Estate Planning 03:53 Pre-Making Decisions for Heirs 07:06 Avoiding Emotional Duress 09:44 Disposition of Sentimental Items 16:30 Planning for Digital Assets 23:27 Privacy Concerns and Personal Journals 28:12 Having a Partner to Dispose of Sensitive Items 29:09 The Importance of Conversations in Estate Planning 31:37 Challenges Faced by Individuals without Biological Heirs 34:27 The Concept of an Ethical Will 37:19 The Impact of Remarriage on Estate Planning 46:51 Senior Investor Protections and the Complexity of Digital Assets 53:13 The Role of Professional Advice in Estate Planning

    58 min
  5. JUL 9

    One Man's Mission To Make It Easy For Financial Advisors To Go RIA

    Chuck Failla, Founder and CEO of Sovereign Financial Group returns to the Modern Financial Advisor Podcast to share some updates on the goRIA initiative he launched in partnership with InvestmentNews. Chuck also shares his journey of going RIA and the motivation behind creating goRIA as a media outlet to educate advisors about the benefits of the RIA space.  Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Resources Mentioned In This Episode: Chuck Failla on LinkedIn - https://www.linkedin.com/in/charlesfailla/Sovereign Financial Group - https://www.sovereignadvisorsolutions.com/goRIA with InvestmentNews - https://inpartners.investmentnews.com/goria/p/1Modern Financial Advisor Podcast EP75 - When Chuck was just getting RIA Labs off the ground - https://pod.co/modern-financial-advisor/episode-75-how-to-host-a-successful-online-event-as-a-financial-advisorModern Financial Advisor Podcast EP108 - With Gauthier Vincent of Deloitte where we discuss end-to-end digital transformation of wealth management - https://www.finservmarketing.com/modern-financial-advisor-podcast/exploring-the-end-to-end-digital-transformation-of-wealth-managementJeff Benjamin on LinkedIn - https://www.linkedin.com/in/jeff-benjamin-9427728/AngelSpan - https://angelspan.com/Beautiful AI - https://www.beautiful.ai/presentationsSaifr - https://saifr.ai/ Chapters 00:00 Introduction and The Importance of a High-Quality Microphone Setup 03:27 Educating Advisors about the Benefits of the RIA Space 15:26 Networking and Learning at Conferences 19:07 Integration and Future-Proofing Technology in the RIA Industry 29:22 Choosing the Right RIA Firm 30:18 The Need for Better Training 32:44 Succession Planning and Ownership Transition 38:21 Expanding Services: Advising on Alternative Investments 52:32 The Role of AI in the RIA Industry

    59 min
  6. JUN 10

    Why Financial Advisors Should Focus On Serving The Unique Needs Of Childfree Clients

    Dr. Jay Zigmont, Founder and CEO of Childfree Wealth joins Mike Langford for a fascination conversation about the intricacies of providing comprehensive financial advice to childfree clients. They discuss the significant population of adults who do not have children and the unique needs that are not being met by traditional financial planning methods. They also explore the reasons why people choose to be childfree and the challenges faced by financial advisors in serving this niche. The conversation covers topics such as dying with zero, long-term care planning, estate planning, retirement, and the importance of understanding the goals and desires of childfree clients. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. Resources Mentioned In This Episode: Jay Zigmont's Book - "The Childfree Guide to LIfe and Money"The Fixed-Index Annuity with a Health-Activated Income Multiplier - This the annuity Jay mentioned during the show.Long Term Care for Childfree Individuals - An article Jay wrote on the topic.Fidelity Investments (FCAT) study on soloists - "A Family of One: The Ascendance of Solo Households"Jay's guest article on Michael Kitces' blog - "Why Childfree People Require A Unique Financial Planning Process"Rajini Kodialam - Mike mentioned how Rajini urged financial advisors to stop calling women a segment. "Any group that makes up over half of the population cannot be a segment." Chapters 00:00 Introduction to Child-Free Financial Advice 03:45 The Size and Significance of the Child-Free Population 08:07 Understanding the Choice to Be Child-Free 13:25 Dying with Zero: A Different Approach to Financial Planning 15:23 The Life of Child Wealth: Redefining Retirement 27:43 Addressing the Unique Needs of Child-Free Individuals 36:44 Creating Communities and Support Networks 46:25 Challenges and Biases Faced by Child-Free Individuals 53:48 Opportunities for Financial Advisors in the Child-Free Market

    56 min
4.4
out of 5
12 Ratings

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The Modern Financial Advisor Podcast shines a light on innovative strategies, solutions, and ideas shared by guests who are driving the wealth management industry forward in new and exciting ways. The show is hosted by Mike Langford and produced by finservMarketing.

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