Modern Financial Advisor

finservMarketing
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Modern Financial Advisor

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. 13 DIC

    Solving the Biggest Tech Problem in Wealth Management by Creating True Ownership of Your Firm’s Data

    Jud Mackrill, Co-Founder of Milemarker joins Mike Langford for a conversation about the challenges financial firms face regarding data ownership and integration. They discuss the concept of data lakes, the mission of Milemarker to empower financial advisors with better data control, and the evolution of technology in the financial services industry. 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: Orion - Jud Mackrill shares the story of being employee number 20 at Orion and how getting to work alongside the company's founder, Eric Clarke, shaped his career.Skience - As part of Jud's recalling the origin story of Milemarker he reflects on meeting his co-founder Kyle Van Pelt when Kyle was still working at Skience.Zapier - Mike mentioned how his sees some high-level parallels between what Milemarker is doing for wealth management firms and how Zapier has created the ability for businesses to connect a variety of other web services.Holistiplan - Jud mentioned how Milemarker is working to make it easier for advisors to adopt solutions like Holistiplan, a tax planning softwares tool andWealth.com - An estate planning tool that benefits from deeper integration and ease of use with the advisor's existing workflow.Stefan Ludlow - Jud mentioned Stefan and his role as the CTO at Cerity Partners as an example of what a CTO at a modern financial advisory firm hopes their job will look like versus what life is like for most tech leaders in wealth management.The Connected Advisor - The Milemarker team are producing Podcast and Newsletter to connect with their prospects, clients, and the wider wealth management community. A side benefit is it helps them better articulate their thoughts about the space. Chapters 00:00 Introduction to Data Ownership Challenges 02:28 Understanding Milemarker's Mission 04:25 The Concept of Data Lakes 08:08 The Origin Story of Milemarker 14:06 The Evolution of Technology in Financial Services 19:02 Practical Applications of Milemarker 22:50 Unlocking Insights with Technology 23:19 Working on Your Business vs. In Your Business 24:18 Challenges of Technology Adoption in Advisory Firms 25:15 The Role of Milemarker in Technology Implementation 29:07 The Importance of Data Quality for AI 32:23 Preparing for the AI Revolution in Advisory Firms 36:30 Core Building Blocks for RIAs in 2025 41:29 The Value of Content Creation for Advisors

    46 min

  2. 1 NOV

    How Financial Advisors Can Build Better Client Relationships by Leveraging Technology

    Patrick Spencer, Managing Director of Moneytree Software, joins Mike Langford to explore how financial advisors can enhance client relationships through technology. They discuss the evolution of Moneytree, the importance of goals-based planning and Monte Carlo simulations, and the critical role of communication in building trust with clients. The conversation emphasizes the need for advisors to understand their clients' objectives and to use technology to facilitate better engagement and decision-making. 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: Terry Black's BBQ - It's the best barbecue in Austin. You are welcome!How To Grow Your Financial Advisory Business by Helping Business Owners Sell Theirs - Great episode on serving business owner clients.Advisor - Client Communication Survey by YCharts - Patrick mentioned some insights surfaced in this survey during our discussion. Chapters 00:00 Introduction and Personal Connections 04:29 The Evolution of Money Tree 10:20 Goals-Based Planning and Monte Carlo Simulations 18:24 Building Better Client Relationships 25:15 Conclusion and Future Directions 25:42 Client Engagement and Tools for Advisors 26:40 The Importance of Visual Communication 30:00 Scenario Planning in Financial Advisory 35:41 Understanding Client Scenarios and Life Changes 41:20 Generational Perspectives on Retirement 49:06 Business Ownership as an Asset

    52 min

  3. 19 SEPT

    Strategies For Growing a Financial Advisory Business Without Adding New Clients

    Jon Randall of XFA.Coach joins Mike Langford for an innovative exploration of strategies for growing financial advisory businesses. The conversation delves into the unique approach of XFA, the common constraints faced by advisors, and the importance of client optimization and segmentation. 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: Most Advisors Are Not Growing Their Business - Here's Why That's A Problem and How To Fix It - Kieran Bol of PriceMetrix by McKinsey shares data that illustrates the lack of organic growth for financial advisory businesses.How Financial Advisors Can Grow Beyond a Plateau - Jon Randall joined Aaron Hasler of SkyView Partners and Mike Langford for an episode of the Advisor Financing Forum podcast to explore strategies for growth at varies levels of business for financial advisors. Chapters 00:00 Introduction to Financial Advisory Growth 02:14 Understanding XFA.Coach and Its Unique Approach 04:40 Common Constraints in Financial Advisory Growth 09:20 Revenue Tiers and Their Challenges 18:01 Client Optimization as a Growth Strategy 25:58 The Importance of Client Segmentation 36:23 Transitioning from Advisor to Coach 44:51 The Journey from Advisor to Performance Coach

    51 min

  4. 12 SEPT

    A New Unified Managed Account Platform That Makes It Easy For Financial Advisors To Customize and Scale

    Katie Hendricks, Vice President and Director of Asset Allocation Research at Dimensional Fund Advisors, joins Mike Langford to discuss the firm's newly unveiled UMA platform, which provides access to personalized and tax-efficient investment solutions. 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: Planning for Charitable Giving - Katie mentioned how UMAs are great tools for helping clients plan for charitable giving. Learn more about Donor Advised Funds on this episode with Adam Nash of Daffy.Dimensional Fund Advisors UMA Platform - This landing page offers a tremendous amount of insights into the new DFA platform for UMAs.The Trend Toward The Personalization of Investing At Scale - In this episode of the Augmented Advisor Podcast, Katie Hendrix and Shawn Jaberzadeh joined Mike Langford and John Prendergast, CEO of Blueleaf shortly after the launch of Dimensional's SMA solution. Chapters 00:00 Introduction to the UMA Platform 14:17 Difference Between UMA and SMA 18:05 Development Process of the UMA Platform 30:06 Future of the UMA Offering

    36 min

  5. 5 SEPT

    Why Financial Advisors Need a Cybersecurity Swat Team to Respond to The Inevitable

    Michael Cocanower, CEO of AdviserCyber, joins Mike Langford to discuss the importance of cybersecurity for financial advisory businesses. He highlights the increasing threats and the lack of internal resources for most RIAs to protect against cyber attacks. 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 HushSEC Reg S-D - Amendments "modernize and enhance the rules that govern the treatment of consumers’ nonpublic personal information by certain financial institutions." Chapters 00:00 Introduction: The Importance of Cybersecurity for Financial Advisory Businesses 03:08 Understanding the New SEC Rules on Cybersecurity 09:07 The Four Pillars of Cybersecurity: Prevention, Detection, Mitigation, and Remediation 23:50 Common Types of Attacks and the Need for Cybersecurity Training 24:40 Enhancing Security with Multi-Factor Authentication 25:10 Introduction to Cybersecurity Threat Reports 27:01 The Human Element in Cybersecurity 29:41 Recognizing and Avoiding Phishing Attempts 34:16 The Importance of Communication and Verification 41:10 Shifting the Mindset: Assume Breach 46:41 Proactive Measures: Isolating Individual Computers

    50 min

  6. 29 AGO

    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

  7. 21 AGO

    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

  8. 1 AGO

    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

    1 h y 2 min
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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.

Información

  • Creador
    finservMarketing
  • Años de actividad
    2018 - 2024
  • Episodios
    120
  • Clasificación
    Apto
  • Copyright
    © All rights reserved
  • Mostrar sitio web
    Modern Financial Advisor

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