86 episodes

The show where we talk with successful independent financial advisors about how they approach their businesses, client relationships, and the underlying behaviors that have helped them achieve success.

The Admired Advisor Podcast Buckingham Wealth Partners

    • Business
    • 4.9 • 32 Ratings

The show where we talk with successful independent financial advisors about how they approach their businesses, client relationships, and the underlying behaviors that have helped them achieve success.

    How Handwritten Notes Build Modern Relationships with Elizabeth Cottrell

    How Handwritten Notes Build Modern Relationships with Elizabeth Cottrell

    Digital communication has largely replaced traditional communication, but putting pen to paper still holds deep and timeless meaning. The simplicity and sincerity encapsulated within a handwritten letter are unparalleled, transcending the boundaries of modernity. Despite instant messaging and emails, handwritten notes are a remarkable way to convey kindness, encouragement, and the desire for genuine connection.
    In this episode, Steve talks with Elizabeth Cottrell. Elizabeth is the award-winning author of HEARTSPOKEN: How to Write Notes That Connect, Comfort, Encourage, and Inspire. Elizabeth's career has taken her from published leprosy researcher to stay-at-home mom, community leader serving on nonprofit and corporate boards, ham radio operator, writer, editor, and blogger. Her expertise and passion for note writing came at just the right time to touch a pandemic world desperately in search of connection. 
    An experienced technical and nonfiction writer and editor, Elizabeth talks with Steve about the simple yet often underutilized communication method of handwritten notes. She shares stories about the power of handwritten, heart-spoken notes and reveals her note-writing formula to inspire others.
     
    Key Takeaways
    [02:39] - What inspired Elizabeth to write the book, HEARTSPOKEN.
    [05:46] - How HEARTSPOKEN connects with the practice of writing notes and messages for others.
    [10:14] - Why the advisor and people business is not a money business.
    [11:58] - The power of handwritten notes in sales and advisory practices.
    [15:52] - What it takes to write a note.
    [17:39] - Elizabeth's secret notes formula.
    [20:38] - How handwritten notes compare to technology-delivered notes.
    [22:19] - Elizabeth's recommendation on how often to write notes.
    [25:07] - The advice Elizabeth gives when writing notes.
    [30:39] - What drives Elizabeth to pursue her passion every day.
     
    Quotes
    [10:33] - "We need to get our customers or prospects to know, like, and trust us. But until we treat them as people and we interact with them and cultivate that human-to-human relationship, that kind of relationship is not going to happen." ~ Elizabeth Cottrell
    [15:28] - "If you get a note from somebody you've done business with, that unexpected touch makes you stand out and can help develop those relationships over time." ~ Elizabeth Cottrell
    [31:26] - "When I can empower somebody, and I can see the light go on that they realize that this pen and paper are a powerful, effective, and inexpensive connection tool that they can use to spread their own kindness and their own encouragement and their own connection, then that completes the circle for me. It's a circle of connection. It's good for me, and it's good for business." ~ Elizabeth Cottrell
     
    Links 
    Elizabeth Cottrell on LinkedIn
    Elizabeth Cottrell on Twitter
    Heartspoken
    HEARTSPOKEN by Elizabeth Cottrell on Amazon
    Bruce Herbert
    Douglas Conant
    Campbell Soup Company
    All the Best by George Bush
    25 Inspirations and Prompts for writing HEARTSPOKEN Notes and Letters
     
    Connect with our hosts
    Steve on LinkedIn
    Buckingham Strategic Partners
     
    Subscribe and stay in touch
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    Spotify
    Steve on LinkedIn
    Follow Buckingham Strategic Partners on Twitter
     
    Disclosure
    For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is based upon third party data which may become outdated or otherwise superseded without notice. Third party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Some analysis presented is based off current economic information and may become outdated or irrelevant without notice. Individuals should speak with their qualified financial professional based on his or her unique circumstances. Neither the Securities and Exchange Commission (SEC) nor any other

    • 33 min
    Navigating the Challenges of Transferring Ownership in Financial Advisory with Matthew Delaney

    Navigating the Challenges of Transferring Ownership in Financial Advisory with Matthew Delaney

    The transition of ownership within a firm can be a challenging process for both clients and advisors alike. It's at this point where the delicate balance of trust, transparency, and open communication becomes so important. While a change in ownership or leadership can stir feelings of uncertainty and concern, advisors who have established trust and transparency with their clients are better equipped to handle these changes.
    In this episode, Steve talks with Matthew Delaney, Managing Partner at JDH Wealth Management. His passion is working with people and helping them get their arms around their financial world. Having left Smith Barney (now Morgan Stanley) in 2005, Matt brought his knowledge of big-box financial advising to the boutique firm of JDH Wealth. His firm is now close to $400 million in collective assets.
    A second-generation financial advisor, Matt talks with Steve about navigating the big changes in transitioning and owning an advisory business. He shares his insights on what he learned that works and doesn't work when going through an ownership change. Matt also discusses the importance of transparency and open communication in client relationships during the transition process and the value of being involved in all aspects of the business.
     
    Key Takeaways
    [01:54] - How JDH Wealth Management was founded.
    [06:01] - The lessons Matt learned from his experience working in the brokerage industry.
    [10:29] - An overview of the team at JDH Wealth Management.
    [11:33] - The client profile that is best suited for JDH's services.
    [12:40] - The process of changing ownership for JDH.
    [17:50] - What worked and what didn't when Matt took over JDH.
    [21:57] - The challenges related to the process of transitioning advisors.
    [25:25] - The mindset of staying involved and trusting the process of others.
    [30:52] - How Matt handles difficult clients.
    [37:26] - What motivates Matt to feel enthusiastic about the work he does for his clients?
     
    Quotes
    [08:55] - "I've told advisors on the broker side that it's not that clients mind paying fees. The problem is that they're often hidden." ~ Matthew Delaney
    [25:52] - "It's so important for advisors to have a sense of what goes on day-to-day and behind the scenes and be close to the details that are the backbone of our business." ~ Matthew Delaney
    [31:21] - "Over the years, I've gotten better at recognizing that life is too short to work with people you don't want to work with or don't let you do your job." ~ Matthew Delaney
     
    Links 
    Matthew Delaney on LinkedIn
    JDH Wealth Management
    Adam Birenbaum
    Your Retirement Bodyguard
     
    Connect with our host
    Steve on LinkedIn
    Buckingham Strategic Partners
     
    Subscribe and stay in touch
    Apple Podcasts
    Spotify
    Steve on LinkedIn
    Follow Buckingham Strategic Partners  onTwitter
     
    Disclosure
    For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is based upon third party data which may become outdated or otherwise superseded without notice. Third party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Some analysis presented is based off current economic information and may become outdated or irrelevant without notice. Individuals should speak with their qualified financial professional based on his or her unique circumstances. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this podcast. © 2022 Buckingham Wealth Partners, LLC. Buckingham Strategic Wealth, LLC and Buckingham Strategic Partners, LLC (collectively, Buckingham Wealth Partners)

    • 42 min
    The Three C’s to Simplifying Financial Planning with Ross Riskin

    The Three C’s to Simplifying Financial Planning with Ross Riskin

    Advisors, much like educators, understand the importance of clear communication. They attempt to simplify complex concepts without diluting their essence. Pursuing this solution drives advisors to explore innovative ways to engage, educate, and empower their clients.
    In this episode, Steve talks with Ross Riskin, Chief Learning Officer at Investments & Wealth Institute as well as Founder and Chief Creative Officer at visiWealth. Ross is recognized as a thought leader and expert in tax planning, college planning, student loan advising, and advice engagement. At visiWealth, Ross helps advisors and financial professionals access high-quality visuals of wealth management and financial planning concepts and strategies that are advisor-driven and client-focused.  
    With the goal of helping advisors enhance their teaching level, Ross talks to Steve about the importance of advisors learning the many ways clients learn to help with adding ways they teach their solutions. He emphasizes using visuals to simplify complex concepts and bridge the understanding gap between family members across generations. Ross also shares the three C's framework— comprehension, curation, and communication, as a guide for advisors to effectively educate their clients.
     
    Key Takeaways
    [03:05] - What inspired Ross to help advisors become better teachers?
    [05:23] - The three C's for simplifying and communicating financial information.
    [09:00] - The importance of having a system for curating and storing content.
    [11:37] - How advisors can earn the trust of investors.
    [17:17] - How life cards can help in the client's discovery process.
    [20:49] - The significance of timing when providing advice.
    [22:36] - Why visuals are important in helping people understand financial planning strategies.
    [23:45] - How visiWealth uses visuals to help advisors deliver advice.
    [27:57] - Common mistakes advisors make when giving advice.
    [30:30] - How advisors can leverage technology to do things that matter most.
    [35:40] - What motivates Ross to keep going each day.
     
    Quotes
    [04:06] - "We, as advisors, are trying to find that simple solution to how we communicate and get things across. We are also looking for scalability and standardization to get more efficient to serve more people." ~ Ross Riskin
    [07:22] - "You can't be an effective receiver of knowledge without comprehension. And you can't be an effective giver of knowledge if you don't know where people are at."~ Ross Riskin
    [12:37] - "There still are high trust levels in teachers and educators to some degree that have been there for decades. So, how do you gain that trust as an advisor? It's a knowledge transfer. It's trust in a relationship. It's 'I'm here to help you but also here to listen to you.'" ~ Ross Riskin
     
    Links 
    Ross Riskin on LinkedIn
    Investments & Wealth Institute
    visiWealth
    American Institute of Certified Public Accountants
    Adam Holt
    Asset-Map
     
    Connect with our hosts
    Steve on LinkedIn
    Buckingham Strategic Partners
     
    Subscribe and stay in touch
    Apple Podcasts
    Spotify
    Steve on LinkedIn
    Follow Buckingham Strategic Partners on Twitter
     
    Disclosure
    For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is based upon third party data which may become outdated or otherwise superseded without notice. Third party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Some analysis presented is based off current economic information and may become outdated or irrelevant without notice. Individuals should speak with their qualified financial professional based on his or her unique circumstances. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this podcast. © 2022 Buc

    • 37 min
    Building a Boutique Wealth Management Firm with Michael Mahoney

    Building a Boutique Wealth Management Firm with Michael Mahoney

    Numbers can often obscure the essence of wealth. However, the heart of wealth management lies in the stories, dreams, and aspirations of the individuals underlying the figures.
    In this episode, Steve talks with Michael Mahoney, Owner of Cypress Asset Management. Before becoming a wealth manager, Michael had a successful business in commercial insurance. His life experiences as an entrepreneur in insurance and financial planning eventually led him to his calling — to serve a select group of clients as a fee-only, fiduciary, strategic life-wealth planner. Michael is confident that a financial plan based on the client's unique goals, values, and relationships reduces risk and increases financial security.
    With over 30 years of experience in insurance and financial planning, Michael shares with Steve how he transitioned from the insurance business to wealth management. He discusses the challenges he faced during the 2008 financial crisis and the lessons he learned from that experience. Michael also emphasizes the importance of focusing on the planning aspect of wealth management and building strong relationships with clients and their families.
     
    Key Takeaways
    [01:47] - The role Cypress Asset Management plays in wealth advisory.
    [04:15] - How Michael got into the wealth management space.
    [05:37] - Why Michael transitioned from insurance to wealth management.
    [07:36] - The challenges Michael faced when he launched his firm.
    [08:42] - The biggest lesson Michael learned during the recession.
    [10:03] - How Michael discovered Dimensional Fund Advisors.
    [13:39] - Michael's client experience with portfolio planning.
    [15:27] - The importance of engaging multiple generations in the planning process.
    [20:15] - How Michael gauges the effectiveness of his business.
    [22:29] - Michael's approach to working with high-net-worth clients.
    [25:08] - One of Michael's favorite things about RIA.
    [26:35] - What motivates Michael to keep doing what he does.
     
    Quotes
    [12:42] - "The portfolio drives the investing. It's the whole core. But it's all about planning around people, their families, their relationships and values, and what's important to them." ~ Michael Mahoney
    [13:25] - "The world's catching up even on the brokerage side. Brokers are seeing the light and understanding that there's a better way to invest than just being transactional and selling products. It's all about the plan." ~ Michael Mahoney
    [16:58] - "People don't want to talk about money a lot, and it's sad. You've got two choices. You cannot talk about it, keep it a secret, wait until you die, and let your will do all the talking. Or you can have the conversation, get feedback, and pass your values on and what's important to you." ~ Michael Mahoney
     
    Links 
    Michael Mahoney on LinkedIn
    Cypress Asset Management
    Dimensional Fund Advisors
    Merrill Lynch
    John Bowen
    Creating Equity
    Vanguard
     
    Connect with our hosts
    Steve on LinkedIn
    Buckingham Strategic Partners
     
    Subscribe and stay in touch
    Apple Podcasts
    Spotify
    Steve on LinkedIn
    Follow Buckingham Strategic Partners on Twitter
     
    Disclosure
    For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is based upon third party data which may become outdated or otherwise superseded without notice. Third party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Some analysis presented is based off current economic information and may become outdated or irrelevant without notice. Individuals should speak with their qualified financial professional based on his or her unique circumstances. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this podcast. © 2022 Buckingham Wealth Partners, LLC.

    • 28 min
    Financial Planning for NextGen Investors with Andy Krafft

    Financial Planning for NextGen Investors with Andy Krafft

    As a new breed of investors emerges, they bring with them unique perspectives, aspirations, and ambitions. This tech-savvy and forward-thinking generation demands a level of engagement and planning that is far more in-depth and tailored to their specific circumstances and goals. 
    In this episode, Steve talks with Andy Krafft, Financial Planner at Luminary Wealth. Andy is a nextgen advisor who joined his father's firm over five years ago after a successful career at Ernst & Young. Andy serves late millennials and early Gen Xers.
    With a burning desire to work directly with clients, Andy talks about his thought process of serving next-generation clients, the three Ts of client experience, and how he uses LinkedIn to find new clients and referrals.
     
    Key Takeaways
    [02:25] - How Andy became a member of Luminary Wealth.
    [04:19] - Andy's professional background before joining Luminary Wealth.
    [06:19] - The reality of working directly with clients.
    [08:46] - Challenges and benefits of working remotely.
    [10:56] - Andy's thought process as a next-generation advisor.
    [20:12] - The three Ts of client experience.
    [22:27] - How Andy uses LinkedIn to find new clients and referrals.
    [28:46] - How Andy educates his clients about various financial services.
     [33:10] - The role of AI in financial advisory services.
    [35:21] - Andy's favorite thing about his work.
     
    Quotes
    [12:34] - "Next-gen clients have different needs and wants. They want more of a partner than an advisor who is just there to tell them what to do. They want somebody who can help guide them and help them think through big life decisions." ~ Andy Krafft
    [20:56] - "Clients are hiring us because they want a detailed answer. They don't want something that they could get on Google." ~ Andy Krafft
     [33:10] - "AI will roll out new tools that allow us to offload some of the work we don't want to do. But it will never replace that human aspect of it. As long as we're working with humans, there will always be a human element that can't be replaced." ~ Andy Krafft
     
    Links 
    Andy Krafft on LinkedIn
    Andy Krafft on Twitter
    Luminary Wealth
    Scott Krafft
    Robert Rachlow
    EY
    MoneyGuidePro
    eMoney Advisor
     
    Connect with our hosts
    Steve on LinkedIn
    Buckingham Strategic Partners
     
    Subscribe and stay in touch
    Apple Podcasts
    Spotify
    Steve on LinkedIn
    Follow Buckingham Strategic Partners on Twitter
     
    Disclosure
    For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is based upon third party data which may become outdated or otherwise superseded without notice. Third party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Some analysis presented is based off current economic information and may become outdated or irrelevant without notice. Individuals should speak with their qualified financial professional based on his or her unique circumstances. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this podcast. © 2022 Buckingham Wealth Partners, LLC. Buckingham Strategic Wealth, LLC and Buckingham Strategic Partners, LLC (collectively, Buckingham Wealth Partners)

    • 38 min
    Demystifying the Trustee Industry with Christopher Holtby

    Demystifying the Trustee Industry with Christopher Holtby

    Trusts have long been essential for wealth management and estate planning, enabling individuals to protect and distribute their assets according to their wishes. However, navigating the trustee industry can sometimes feel like stepping into a maze of legal jargon, complicated procedures, and an array of options that can overwhelm even the most experienced advisors.
    In this episode, Steve talks with Christopher Holtby, Co-Founder of Wealth Advisors Trust Company. At Wealth Advisors Trust Company, Christopher applies his business building, love of learning, and operational and wealth management expertise gained at Ernst & Young. His role includes learning and facilitating knowledge around the trustee industry to assist in choosing a trust company. Christopher has co-authored two white papers, “Directed Trusts Made Simple” and the “Trusteed IRA”, and authored one published peer-reviewed paper, “An Advisors Roadmap to the Trustee Industry.”
    Committed to educating and empowering advisors to help clients understand their options regarding trust services, Christopher demystifies the corporate trustee concerns advisors may have. He talks about how advisors can avoid being flanked by attorneys during trust discussions and why having a generational wealth transfer conversation with a client is important.
     
    Key Takeaways
    [02:47] - Why Christopher founded Wealth Advisors Trust Company.
    [05:42] - What makes Wealth Advisors Trust Company an advisor-friendly company?
    [12:00] - How advisors can avoid being flanked by attorneys during trust discussions.
    [16:20] - The importance of having generational wealth transfer conversations.
    [18:56] - The difference between family trustees and corporate trustees.
    [20:30] - What makes a great family trustee?
    [23:35] - How independent advisors can compete successfully against big firms.
    [31:30] - Christopher's greatest source of fulfillment and enjoyment.
     
    Quotes
    [13:10] - "Advisors should have a conversation about generational planning with clients. Who gets the money, when, why, and how is a normal language that an advisor and a client can have." ~ Christopher Holtby
    [20:45] - "The best skill for a family trustee is the comfort of saying, "I don't know, I'm gonna go ask." That raw ability to say, "I'm not quite sure. I will double-check that" with impartiality and humility, makes a great family trustee." ~ Christopher Holtby
    [25:05] - "Advisors are true craftsmen. The value-add they bring is having the time and attention to detail, being impartial, and being independent thinkers. That's a real value-add." ~ Christopher Holtby
     
    Links 
    Christopher Holtby on LinkedIn
    Wealth Advisors Trust Company
    Ernst & Young Family Office
    Northern Trust
    Fidelity Investments
    Charles Schwab
    Pershing
    J.P. Morgan
    Wells Fargo
    Truist
     
    Connect with our hosts
    Steve on LinkedIn
    Buckingham Strategic Partners
     
    Subscribe and stay in touch
    Apple Podcasts
    Spotify
    Steve on LinkedIn
    Follow Buckingham Strategic Partners on Twitter
     
    Disclosure
    For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is based upon third party data which may become outdated or otherwise superseded without notice. Third party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Some analysis presented is based off current economic information and may become outdated or irrelevant without notice. Individuals should speak with their qualified financial professional based on his or her unique circumstances. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this podcast. © 2022 Buckingham Wealth Partners, LLC. Buckingham Strategic Wealth, LLC and Buckingham Strategic Partners, LLC (collectively

    • 34 min

Customer Reviews

4.9 out of 5
32 Ratings

32 Ratings

The Cogent Advisor ,

Fantastic sharing and learning from BSP advisors

If you truly want to be the best advisor for your clients, it is hard to do it on an island. BSP does a great job of creating a community of advisors who are growing and learning together. The insights and hard-earned lessons shared by so many great advisors is so refreshing. It is great to look into a group who's mindset is truly "our future is bigger than their past." Very much worth taking a listen.

JohnAvilla ,

Something for every business owner

These are some great habits and lessons not just for investment advisors, but also for anyone who runs their own business. I loved the simplicity of the surge protector as the first priority and how it helps with peace of mind.

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