The Confident Advisor Practice Podcast Pete Bush

In this episode of the Confident Advisor Practice Podcast, hosts Bill and Pete Bush dive into the intricacies of the Office of Supervisory Jurisdiction (OSJ) model, sharing their insights and experiences from the Horizon Advisor Network. They discuss the evolving role of OSJs in the securities industry, shedding light on how OSJs provide support, compliance, supervision, and additional value to independent financial advisors. The episode covers the benefits of plugging into an OSJ, the personal touch and community it offers, and tackles common misconceptions about the model.
Episode Highlights:
- **00:00:07:** Bill welcomes listeners to the podcast and sets the stage for the episode's focus on the OSJ model within the Horizon Advisor Network. He highlights the purpose of the podcast, which is to provide tips, strategies, and perspectives for building confidence in financial advisors’ practices. The introduction underscores the significance of understanding the OSJ model for those in the securities industry.
- **00:00:41:** Pete expresses his pleasure in joining the conversation, setting a collaborative tone for the episode. The brief
exchange emphasizes the close relationship between the hosts and hints at the episode's informal but informative style.
- **00:00:54:** The conversation shifts to a detailed explanation of the OSJ (Office of Supervisory Jurisdiction). Pete clarifies the vague understanding some listeners might have about OSJs, leading into a definition of the acronym and its significance in the securities industry. This segment is crucial for establishing a foundational understanding of the topic.
- **00:02:08:** Bill and Pete discuss the specific responsibilities and requirements of an OSJ, including the necessity of holding a Series 24 license. This breakdown helps clarify the regulatory and supervisory roles that OSJs play within broker-dealer firms, making it easier for listeners to grasp the breadth of an OSJ's duties.
- **00:03:29:** The hosts touch on the scale and scope of the Horizon Advisor Network's OSJ, mentioning the number of advisors and geographical distribution. This segment highlights the network's growth and the logistical complexities of managing a wide-spanning network of advisors.
- **00:04:30:** Pete elaborates on the evolution of the OSJ model from a compliance and supervision focus to a value-added service provider. Here, specific examples like marketing programs, business coaching, and community-building efforts are discussed, illustrating the OSJs role beyond regulatory functions.
- **00:05:15:** The episode narrows in on the tangible benefits of joining an OSJ for independent advisors, emphasizing the financial arrangements, personal attention, and the broader support ecosystem. Pete provides insights into how OSJs like
Horizon Advisor Network cater to various advisor needs, contributing to their professional growth and client service capabilities.
- **00:07:37:** Discussion turns to the importance and impact of in-person gatherings within the OSJ community. This part of the conversation underscores the value of face-to-face interactions in fostering relationships and community spirit among networked advisors.
- **00:08:49:** Bill and Pete address some common misunderstandings about OSJs, such as concerns about client ownership and operational freedom. This segment serves to debunk myths and present the OSJ model as an enhancing rather than restricting partnership for advisors.
- **00:10:20:** The hosts explore the diverse sizes and types of advisory practices that find value in plugging into an OSJ, reflecting on their own practice's growth and development alongside their affiliates.
- **00:13:46:** Pete identifies the most significant challenges faced by OSJs, focusing on the people management aspect of advisory practices. This insight sheds light on the multifaceted role of OSJs in advising on business operations, growth strategies, and practice management.
- **00

In this episode of the Confident Advisor Practice podcast, hosts Bill Bush and Pete share valuable insights and tips for successful interviews and public speaking engagements. They discuss their experiences with interviews and conversations on various platforms. They mention that interviews can sometimes feel like conversations or Q&A sessions, whether on podcasts, at events, or in articles.
 
Episode Highlights:
·         02:01: The hosts, Bill and Pete Bush emphasize the importance of preparation for interviews, suggesting that being prepared helps you come across as more natural and confident. This preparation includes anticipating questions, rehearsing responses, and having a system for delivering messages.
·         04:53: Anticipating questions and rehearsing potential responses is recommended, especially for podcasts and interviews. The hosts mention that some interviewers provide a general line of questioning to help guests prepare.
·         06:32: The hosts discuss the importance of storytelling in interviews, recommending a clear beginning, middle, and end to your stories. They suggest focusing on two or three main points to convey effectively.
·         09:11: They emphasize the importance of brevity and using sound bites to convey your message effectively. They discuss the use of stories and anecdotes to make your points more memorable.
·         10:55: The hosts discuss the importance of being conversational and using language that resonates with the audience's level of sophistication. They suggest avoiding jargon and overly technical language.
·         12:59: They suggest taking your time to answer questions and not rushing your responses. They discuss the use of pauses and redirections to gather your thoughts and deliver a thoughtful response.
·         14:44: The hosts emphasize the importance of projecting confidence and authority in your responses. They suggest using facts and statistics to back up your points and establish credibility.
·         17:55: They encourage practice and repetition to improve your interviewing skills, comparing it to building a muscle. The hosts suggest that with practice, you can become more comfortable and confident in interviews.
 
Key Points:
1.    Anticipate questions, rehearse responses, and have a system for delivering messages.
2.    Use clear beginning, middle, and end to convey main points effectively and make them memorable.
3.    Speak confidently, use relatable language, and back up points with facts and statistics.
 
Tweetable Quotes:
·         "Storytelling is key! Use a clear beginning, middle, and end to convey main points effectively and make them memorable.” - Pete
·         "Be authentic! Speak naturally and let your personality shine through to connect with your audience.” - Pete
·         "Know your audience! Tailor your language and examples to resonate with your listeners and keep them interested." - Bill
 
Resource Mentioned:
·         Podcast Editing
 

The Confident Advisor Practice podcast, hosted by Bill Bush and Pete Bush of the Horizon Advisor Network, explores tips, strategies, and perspectives for financial advisors to build, maintain, and grow confidence in their practice. In this episode, they discuss the beginning of a new year and the importance of setting goals for the financial advisor's business. The episode also aims to provide practical advice for financial advisors on building relationships with existing clients, expanding services, and ultimately growing revenue in their practices.
 
Episode Highlights
·         00.45: Pete emphasizes that the start of the year is a time when goals are typically set. He notes that financial advisors rarely wake up on January 1st thinking they had a good year and decide to do less in the coming year. Instead, they set goals for growth and success in their practice.
·         01.09: The conversation touches on the distractions that may arise throughout the year, such as political events, interest rates, and conflicts overseas. Despite the potential noise from external factors, the hosts emphasize the importance of focusing on business planning and growth.
·         02.36: The ability to stay focused despite external factors can be a superpower and even a competitive advantage for financial advisors.
·         03.45: The episode aims to provide guidance on growing and succeeding in the face of uncertainties.
·         04.24: The hosts discuss the idea of exploring new avenues, such as donor-advised funds, as an additional service for clients.
·         06.07: Pete highlighting the importance of engaging with high-net-worth clients and ensuring that the planning process is comprehensive. He mentions scenarios where advisors may have inherited large investment clients or acquired clients who haven't been through the full planning process.
·         07.09: Bill introduces the concept of an expansion passport, a self-assessment tool or questionnaire aimed at younger people. He emphasizes that this tool is a good way to open doors by asking questions that may not be solely investment related.
·         09.12: Pete emphasizes the need for a system, often using a Customer Relationship Management (CRM) tool, to continually put the advisor in front of this broader audience.
·         10.16: The hosts discuss the concept of being "referrable" and how the top 20% of clients can act as flag-wavers, potentially providing valuable referrals.
·         11.31: While it may be difficult to raise fees based on percentage charges, financial advisors can focus on charging separately for unique services or intellectual capital. By offering something distinctive, advisors can set their own prices.
·         14.08: The hosts discuss the importance of reviewing expenses at the end of the year and questioning the relevance of each item.
·         15.48: The hosts stress the fundamental purpose of being in business—to make a profit—and the importance of managing expenses to maximize profitability.
·         16.40: Bill and Pete discuss a conceptual framework using a four-square box to categorize potential clients based on their familiarity with the advisor and awareness of their financial needs.
·         18.36: The hosts encourage financial advisors to concentrate their marketing efforts on individuals they know and who are already aware of their financial needs. This includes people who have shown interest, attended events, or expressed concerns related to their financial situations.
·         20.15: Recognizing that financial advisors have limited resources; the hosts suggest focusing efforts to achieve maximum results.
 
 
3 Key Points
1.    Bill outlines three primary ways for financial advisors to grow their profits on the top line of their business.
2.    Th

On today's episode of "The Confident Advisor Practice Podcast," a podcast from the Horizon Advisor Network, hosts Bill Bush and Chad Soileau talks to Theresa Barnard from Evergreen Solutions. They explain that they met Theresa through their involvement on the board of the Financial Planners Association of Louisiana and how they got to know each other.
 
Episode Highlights
·         01:56: The host talks about the EOS system (Entrepreneurial Operating System). They mention that the EOS system was derived from Gino Wickman's work, possibly referring to a book called "Traction" by Gino Wickman.
·         02:24: Theresa mentions that she entered the wealth management industry in 1999 as a licensed advisor and spent most of her career working in ensemble practices. She eventually found herself in practice leadership roles, which she describes as a natural progression in her career.
·         03:09: Theresa mentions that she had the opportunity to implement EOS into her practice two years ago and served in the integrator role. This experience led her to realize her true passion, which involves creating a conducive environment for growth and helping companies have a more significant impact on their clients and communities.
·         04:46: EOS may not be the best fit for those who don't seek growth or change in their business. Theresa implies that EOS is more appropriate for business owners who are interested in improving efficiency, achieving growth, and making changes to their practice.
·         05:40: Theresa elaborates on the criteria for advisors who should consider implementing the EOS system. She emphasizes that EOS is suitable for advisors in ensemble practices who have a desire to grow and increase their impact on clients, employees, and their community.
·         07:01: Theresa explains that EOS is essentially a business operating system designed specifically for entrepreneurial business owners.
·         08:24: Bill and Chad discuss the flexibility of the EOS system and how it can be tailored to suit the unique needs and preferences of each advisor's practice. They emphasize that EOS provides a framework that doesn't require advisors to reinvent the wheel, allowing them to adapt and integrate it into their practices as they see fit.
·         11:58: Theresa emphasizes that the "people" component often stands out as the most complex and messy part of the business, primarily because people are inherently complex. She notes that one of the initial impacts of implementing EOS is focusing on finding the right people for the right positions within the organization.
·         13:50: Theresa emphasizes the need for individuals to be in roles that match their natural abilities and interests, using the analogy that if she were to do interior design work, no matter how hard she tried, it wouldn't be a good fit.
·         16:02: Bill, Chad and Theresa discuss how this concept encourages individuals and teams to prioritize their most crucial objectives over less important tasks, ensuring that they allocate their time and resources wisely during a 90-day period.
·         17:52: Bill and Chad talk about the interconnectivity of the components and how they must work together seamlessly for success.
·         19:27: Companies can choose to work with professional EOS implementers who are franchisees of EOS. These professionals serve as coaches, facilitators, and teachers, guiding the leadership team of a company through the implementation of EOS.
·         23:20: The arrangement with an Integrator often depends on the company's specific situation and goals. Theresa highlights the importance of finding the right fit for the Integrator role, whether internally or externally, to ensure that the responsibilities are managed effectively, and that the Integrator can help drive the company's succe

On today's episode of "The Confident Advisor Practice Podcast," a podcast from the Horizon Advisor Network, hosts Bill Bush and Chad Soileau discuss about the growing popularity of artificial intelligence (AI) in 2023 and its potential positive effects on the financial advisory business. The speakers acknowledge that AI has rapidly emerged and is now widely present. They express their intention to explore the known positive impacts of AI in the financial advisory field and encourage thinking outside the box.
 
Episode Highlights
·         01.07: Bill and Chad discuss the adaptability of AI to the diversity of practices among financial advisors.
·         02.25: Bill mentions that AI platforms may have a lag in terms of accessing up-to-date information. He further adds that AI's ability to automate tasks and provide insights is evolving rapidly.
·         03:48: Chad talks about the potential of AI in automating tasks, citing an example of an AI machine scheduling appointments and conducting phone conversations.
·         05:09: Bill highlights AI's capability to analyze large amounts of data quickly and provide valuable insights.
·         06:17: Chad discusses the limitations of AI in providing personalized advice. He says that personalized advice and human relationships still hold significant value in the financial industry.
·         07:34: Bill explains how AI can provide a head start in educational projects by generating outlines or training programs quickly. He discusses the potential of AI for on-the-fly educational resources.
·         09:00: Chad mentions AI-powered chatbots on websites as an example of connecting with clients.
·         09:49: Chad highlights the efficiency gains AI can bring to the service aspect of businesses.
·         10:02: Bill and Chad discuss the growing role of AI and its potential for transforming various aspects of business and decision-making.
·         14:13: With AI we are always going to find a way to be better at what we do. But again, nothing beats face to face.
 
 
3 Key Points
1.    Chad shares how integrating AI into different aspects of a business can be relatively easy and customizable based on individual preferences.
2.    Chad discusses the potential of AI in streamlining customer service and improving efficiency.
3.    Bill and Chad discuss the ongoing evolution and advancements in AI technology.
 
 
Tweetable Quotes
·         "Personalized advice and human relationships still hold significant value in the financial industry." – Chad
·         "Some clients may embrace AI-based service, while others may still prefer human interaction." – Chad
·         "Nothing beats personal relationships with clients." - Chad
 
Resources Mentioned:
The Confident Advisor Practice Podcast Horizon Advisor Network Website 

In today's episode of "The Confident Advisor Practice Podcast," a podcast from the Horizon Advisor Network, hosts Bill Bush and Chad Soileau talk about practice management. Today they are going to discuss about the importance of CYA in your practice.
 
Episode Highlights
§  01:36: The CYA 360 was born as a single-day event for business owners and business leaders.
§  01:50: CYA 360 was a one-day symposium with guest speakers all speaking on their individual topic of specialization and expertise, whether that is buy-sell agreements, risk mitigation, company retirement plans, what are all the threats and things they need to be aware of uncovering all those potential issues, so it started as a one-day symposium, later it got morphed into a series.
§  02:55: Bill talks about the 3 major categories of CYA 360.
§  03:47: What are some things that individual practices really need to think about that they can implement and do …and kind of make their own.
§  06:02: Bill shares how things change when you are in your 50s.
§  08:00: There is not another runway decade out there, Bill has searched before starting their podcast. It is a unique story.
§  09:30: Bill and Chad discuss the importance of staying relevant and up to date in the digital age.
§  10:23: One of the ways you can protect yourself always being active, visible, and relevant is by having purpose planned marketing system within your firm.
§  11:58: Every single day you should always be looking for new opportunities. The bigger deal is having a documented plan of client acquisition.
§  13:22: Build a unique ability team. Stick to what you are best at as a new advisor, you have to be a Jack of all trades, but as you start to expand out, it doesn't necessarily mean you have to add a bunch of employees, but it is about maybe leveraging your strengths.
§  15:58: Chad advises doing some legacy planning with children or grandchildren that come behind, but also diversifying the age groups of the clients that you are also working with as well too because you can have some clients that are bit closer to the end.
§  16:23: If you are building a practice that has a kind of diversified age group. You can pretty much guarantee yourself that you are going to always be busy, and you are going to always have someone to talk to.
§  19:07: Growth attracts growth, and if you are giving off the image to existing clients and prospective clients that we are growing organization, we are adding this, we are doing these things, we are having success, you are going to have a whole likely a bigger probability or better probability of getting referred again by an existing client or maybe someone who is not even a client but knows your business.
§  24:39: Everyone who works behind the scenes knows who's responsible for what tasks, what things need to be done and the follow-ups and then of course, they do a weekly meeting with all those.
§  25:48: As a business owner ask yourself, what happens if I can't work for two months, three months. How does my business keep going on right and the succession plan or the succession partner is what if I can't come back and what happens there?
§  26:54: If you're an advisor, you tend to focus on all the bright and shiny things that you have fun doing.
 
 
3 Key Points
1.    Chad explains how to build your brand or something with your own intellectual property.
2.    Stay focused on the things you need to be focused on, and even if you can do that other piece, you are not going to be as good at it.
3.    Chad shares how important it is to build a team, implement operation systems, and build a consistent, reliable service experience.
 
 
Tweetable Quotes
§  "Any client that comes into our firm, it's going to be basically how we do our business in the financial planning process, the investment implementation process, and the planning process." – Bill
§  "I talk