The Connected Advisor Milemarker

Episode 046: In this episode of The Connected Advisor, Kyle talks with Sammy Azzouz, President and CEO of Heritage Financial Services. In his role, Sammy leads a dynamic organization that provides meticulous wealth management services to clients. He keeps the firm at the cutting edge of the wealth management industry by charting a long-term strategic course and driving the execution of the firm’s strategic initiatives. Sammy is also the author of Beyond the Basics: Maximizing, Allocating, and Protecting Your Capital, and the host of Heritage Financial's podcast, Wealthy Behavior.
Sammy talks with Kyle about his journey from law school to wealth management and the importance of providing comprehensive financial services to clients. He emphasizes the value of breaking down silos and having holistic conversations about money. Sammy also shares insights on the industry's future, the role of technology in supporting advisors and enhancing the client experience, and the need for firms to focus on organic growth.
In this episode:

[02:20] - The money moment that led Sammy into financial services.

[06:18] - Sammy's thoughts about innovations in estate and tax planning.

[10:05] - Sammy's career path at Heritage Financial Services.

[15:21] - How Heritage grows organically.

[18:35] - The tech stack that supports advisors and helps them grow.

[20:01] - The importance of analytics in business growth.

[22:26] - Sammy’s thoughts on the future of wealth management.

[27:24] - The role of AI in the future of financial services.

[30:13] - Sammy's Milemarker Minute: favorite books, potential career outside financial services, and bucket list travel destination.


Key Takeaways

Breaking down silos and providing comprehensive financial services is crucial to staying competitive in the industry.

Employee ownership can contribute to a positive company culture and long-term success.

Dedicated resources should be allocated to train and develop advisors in business development.

The future of the industry may involve increased collaboration among RIAs and custodians to offer integrated solutions to clients.

Technology, such as AI and analytics, can enhance the client experience and improve operational efficiency.


Quotes
[03:20] - "Money is probably the most stressful thing that people deal with. If you can help people with it, you can have a huge impact on their lives." ~ Sammy Azzouz
[09:09] - "As you grow, you have more resources to reinvest into the client experience and your team. You want to start thinking strategically about those additional services to add value to the client and dig deeper into a pathway you've already set for yourself." ~ Sammy Azzouz
[13:58] - "Employee ownership is important. It's important for multiple people to think day in and day out like business owners. Owners are definitely better than renters in a company, and it's something important and helpful in our industry." ~ Sammy Azzouz

Links 

Sammy Azzouz on LinkedIn

Heritage Financial Services

Beyond the Basics: Maximizing. Allocating, and Protecting Your Capital

Wealthy Behavior on Spotify

Chuck Bean

Envestnet | Tamarac

Pontera

Betterment

Melissa Mattison

Vanguard

J.P. Morgan

Merrill Lynch

Morgan Stanley

Altruist

Team of Rivals

James: A Novel


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Kyle on LinkedIn

Jud on LinkedIn


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Episode 045: In this episode of The Connected Advisor, Kyle is joined by Brian Preston, Managing Partner at Abound Wealth Management and the Founder and Host of The Money Guy Show. Brian is a third-generation educator, and this desire to create educated clients led to the award-winning YouTube channel and podcast, The Money Guy Show. The Money Guy Show has been broadcasting for more than 15 years, and Brian has appeared on the Fox Business Channel and US News.
Brian talks with Kyle about his book, Millionaire Mission, and discusses the financial order of operations, a nine-step system for managing money and building transformative wealth. An award-winning content creator and managing partner of a fast-growing RIA in Tennessee, Brian also shares the secrets to creating great content and the key to building wealth.
In this episode:

[02:31] - Brian's money moment.

[06:52] - Brian's early years of creating content.

[07:44] - The secret to success in content creation.

[10:07] - Brian's inspiration for writing Millionaire Mission.

[12:50] - A 9-step system for managing money and building wealth.

[16:59] - The three key ingredients to wealth creation.

[18:10] - Brian's favorite step in the financial order of operations.

[19:47] - The difference between creating digital content and writing a book.

[22:00] - Other features the Millionaire Mission has to offer.

[25:09] - What it takes to manage a fast-growing firm.

[28:46] - Challenges and considerations when adopting new technology.

[30:59] - The future of the financial planning industry.

[34:45] - How Brian complies with regulations in his social media content.

[37:36] - Milemarker minute: the period Brian wants to go back to, hardback book vs. Kindle, and favorite football player.


Key Takeaways

The Financial Order of Operations is a nine-step system for managing money and building wealth.

Discipline, money, and time are the three key ingredients to wealth creation. It is important to develop the discipline to save and live below your means, put your money to work through investments, and give it time to grow.

Building a successful advisory firm requires a long-term mindset and a focus on providing value to clients. Invest in technology and systems that will support the growth of the firm and stay up-to-date with industry trends.


Quotes
"Anytime I meet a young person, I try to tell them about the wonderful world of personal finance. I think this is the greatest profession. You can make a great living for your family and employees. You also go to sleep at night, knowing you added a lot of value to everybody." ~ Brian Preston
"There's a new breed of influencers and people out there in the financial space who are telling you that financial advisors are not what you need. So, you better make sure that you can tell people what and how you add value, and then you also need to make sure you're doing the things that you're telling people." ~ Brian Preston

Links 

Brian Preston on LinkedIn

Money Guy Show on Twitter

Money Guy Show on Apple Podcast

The Money Guy Show on YouTube

Abound Wealth

Financial Order of Operations Course | Money Guy Show

Progressive Commercial

Millionaire Mission

The Millionaire Next Door by Dr. Thomas Stanley

The Wealthy Barber

Resources | Money Guy


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Kyle on LinkedIn

Jud on LinkedIn


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Episode 44: In this episode of The Connected Advisor, Kyle talks with Scott Colangelo, Chairman and Managing Partner at Prime Capital Investment Advisors (PCIA) and Managing Director of Qualified Plan Advisors (QPA). Scott has earned several industry awards and recognition for his vision, leadership, and innovation. He leverages his industry knowledge and expertise to create customized solutions that help clients achieve their financial goals and objectives. Scott is also passionate about empowering clients with education, guidance, and tools that enhance their financial well-being and security.
Scott talks with Kyle about the collaborative nature of local wealth management firms in Overland Park, Kansas. He also discusses the four pillars of a healthy firm: wealth, retirement, education, and production. Scott believes that clients will continue valuing education and personalized guidance and that technology will free up advisors' time to build relationships. Scott shares his optimism about the industry's future, emphasizing the importance of technology and AI in enhancing client relationships. 
In this episode:

[01:15] - Why Overland Park is a hotbed for wealth management firms.

[03:50] - Collaboration among asset management firms.

[10:17] - How Prime Capital practices intelligent flexibility.

[14:26] - Scott's money moment that led him to a career in wealth management.

[16:40] - The promise Scott made to his advisors.

[21:03] - Revolutionizing company culture through equitable ownership.

[22:11] - Cultivating an ego-free workplace culture.

[24:26] - How Scott came up with the four components of a healthy firm.

[27:56] - The characteristic shared by fast-growing companies.

[32:34] - Scott's take on the future of the industry.

[34:46] - Scott's Milemarker minute: potential career outside finance, bucket list travel destination, favorite books, hobbies, and favorite restaurant outside Greater Kansas City.


Key Takeaways

The industry is trending toward a more holistic approach, with firms offering comprehensive services in wealth management, retirement planning, education, and product production.

Alignment is crucial in a firm, and Prime Capital Advisors has implemented an ownership structure that aligns the interests of advisors and the firm.

Education and wellness programs are essential in helping participants reduce stress and improve their financial well-being.

Technology and AI will enhance the wealth management industry by streamlining processes and allowing advisors to focus more on building personal relationships with clients.


Quotes
"There are simple ways for us to grow this industry, grow our practices, get more efficient, and scale better, and you can still be just as good of a fiduciary." ~ Scott Colangelo
"Alignment is everything. If we're all rowing at 100% and one person is rowing at 99%, we'll eventually go a big circle and end up back where we started." ~ Scott Colangelo
"If you get somebody in a good financial spot, their kids learn from that, their grandkids learn from that. They're happier in retirement. This is real impact stuff, and you're going to make more money because you're going to end up getting all their business whenever they have needs." ~ Scott Colangelo

Links 

Scott Colangelo on LinkedIn

Prime Capital Investment Advisors

Morgan Stanley

Goldman Sachs

Merrill Lynch

Mariner Wealth Advisors

Redtail Technology

Nitrogen Wealth

eMoney Advisor

MoneyGuidePro

Glenn Spencer


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Jud on LinkedIn


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Episode 043: In this episode, Kyle talks with Justin Steitz, President at Copper Financial. In his role, he leads sales, investment operations, compliance, and audits for the CommunityAmerica advisor channel and the broker-dealer business unit. Justin is dedicated to the credit union mantra of "people helping people" and focuses on giving back to the community. With a strong background in compliance, he is well-versed in the highly regulated wealth management industry. Before joining the Copper Financial team, Justin served as Chief Compliance Officer for Ausdal Financial Partners, Inc., where he led the effort to build an in-house broker-dealer.
Justin talks with Kyle about the unique challenges and opportunities of serving the credit union space. He highlights the importance of philanthropy and community in the credit union industry and how Copper Financial is dedicated to helping credit union members invest and improve their financial well-being.
Join us as we discuss:

[01:47] - Copper Financial's philanthropic activities.

[03:35] - Justin's money moment that led him to a career in wealth management.

[06:40] - How Copper Financial creates investment programs for clients of all sizes.

[11:42] - Why credit unions are lagging behind in digital adoption.

[14:14] - What differentiates Copper Financial from other investment firms.

[18:28] - The competitive advantages of credit unions over wealth management firms and private banks.

[24:01] - The challenges and benefits of AI in the industry.

[29:08] - Justin's thoughts on the future of wealth management and credit unions.

[32:32] - Milemarker minute: must-see places in Kansas City, Chiefs' game vs Royals' game, and bucket list travel destination.


Key Takeaways

Copper Financial provides investment programs for credit unions and is driven by the credit union mantra of "people helping people."

The credit union industry is community-focused and emphasizes giving back to members and the community through philanthropy and financial literacy programs.

Technology, including robo-advisors and self-directed trading, is driving the evolution of credit union wealth management.

Credit unions have historically been slower to adopt digital technologies due to resource constraints. There is a growing need to compete with fintech companies and provide members with digital investment options.


Quotes
"It doesn't matter if it's $500 or $5 million, we're going to work with them. And that was my moment of 'I'm all in.' I build products and services for credit union members to invest in. I love to help people. And it went into that mantra of people helping people. Now, I get to do it in the industry I love and help change people's lives." ~ Justin Steitz
"We can be the entry point, not only digitally, and get you to start investing. Then, we have the financial advisors to grow and morph into. It's a one-stop shop." ~ Justin Steitz
"It comes down to survival of the fittest with the amount of technology that's in the space. You've got to be spending money on technology in order to compete, or a customer or a member is going to go somewhere else where they have that." ~ Justin Steitz

Links 

Justin Steitz on LinkedIn

Copper Financial

CommunityAmerica Credit Union

Robinhood

Betterment

SoFi

Stash

Vanguard


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Kyle on LinkedIn

Jud on LinkedIn


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Episode 042: In this episode of The Connected Advisor, Kyle talks with Jason Gordo, Co-founder and President of Modern Wealth Management. Jason is an accomplished wealth management executive with a diverse background in business strategy, execution, and mergers and acquisitions. He is known for his expertise in integrating tax planning into the financial planning process, helping clients optimize their financial strategies, and minimizing tax liabilities. Before joining Modern Wealth's founding team, Jason was a Managing Director at Goldman Sachs Personal Financial Management.
Jason and Kyle discuss Modern Wealth's unique approach to managing wealth, mergers and acquisitions, and client retention. He shares insights into their M&A strategy and how they identify firms that align with their culture and business model. Their conversation highlights the importance of building strong relationships and providing exceptional client service.
In this episode:

[02:49] - The money moment that sparked Jason’s interest in investing.

[07:50] - How Jason has helped others with their investments.

[09:51] - What inspired Jason to start Modern Wealth Management.

[12:13] - What sets Modern Wealth apart from other advisory firms.

[18:00] - How Modern Wealth attracts and retains clients.

[20:03] - What Modern Wealth looks for when buying firms.

[21:23] - How Modern Wealth acquires firms.

[24:11] - Jason's future goals.

[26:14] - How interest rates and capital market changes impact Modern Wealth's acquisition process.

[28:16] - How Modern Wealth integrates technology in its acquisitions.

[29:51] - Milemarker minute: March Madness, golf course pick, travel destination bucket list, and the best book Jason read in 2023.


Key Takeaways

Modern Wealth Management integrates financial planning, investment management, and tax planning to provide clients with comprehensive solutions.

Modern Wealth's acquisition strategy prioritizes cultural fit, business model alignment, and the potential for long-term partnerships.

Technology integration is crucial in Modern Wealth's growth and acquisition process, ensuring a seamless transition for new partners.

Modern Wealth Management focuses on building a great company with exceptional partners and delivering value to clients.


Quotes
"I want to positively impact the people around me and the lives of the clients who have trusted me with their finances. We're giving CPAs in our business that same opportunity. We're trying to make it fun, engaging, and rewarding so that they're able to truly impact people's lives." ~ Jason Gordo
"Anytime I talk to a potential partner, I talk about three different buckets: cultural fit, business model fit, and the currency makeup of a transaction." ~ Jason Gordo
"Our focus every week is simple: find exceptional people who we believe would be great partners, who we believe would have a lot of fun together, and build a great company." ~ Jason Gordo

Links 

Jason Gordo on LinkedIn

Modern Wealth Management

Merrill Lynch

Callaway Golf

Warren Buffet

Berkshire Hathaway Inc.

The Millionaire Next Door

Vanguard

Dean Barber

Michael Capelli

Bud Kasper

LPL Financial

The Good Life


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Jud on LinkedIn


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Episode 041: In this episode of The Connected Advisor, Kyle talks with Melissa Bouchillon, Managing Partner at Sound View Wealth Advisors. With a background in psychology and education, Melissa brings a different perspective to the financial advisory industry. In addition to her passion for helping her clients, Melissa is on the board of organizations near and dear to her heart, including the Landings Military Relief Fund, Marshes of Skidaway Island, and the Savannah Music Festival. 
Melissa talks with Kyle about her unique approach to marketing in financial advisory. She shares how her background in psychology and education has helped her as a financial advisor. Melissa highlights the significance of simplifying complex financial concepts for clients and the role of technology in driving efficiency and enhancing client experiences. 
In this episode:

[01:29] - Melissa's unique marketing approach.

[05:10] - The money moment that led Melissa into financial advisory.

[08:15] - How Melissa's background in psychology and education has helped her as a financial advisor.

[10:23] - How Melissa simplifies complex financial concepts for clients.

[12:38] - Why Melissa chose to open an office in Bluffton, South Carolina.

[14:19] - Why Melissa rotates staff between different office locations.

[17:08] - What it takes to onboard and make employees successful.

[20:02] - The role of technology in building Sound View Wealth Advisors.

[23:54] - Melissa's view of the future of the RIA industry.

[26:06] - Milemarker minute: longest race Melissa has ever run, her bucket list travel destination, potential career outside teaching, best book read.


Key Takeaways

Building a successful wealth management firm involves understanding clients' needs and driving impact in the community.

Simplifying complex financial concepts is crucial for effective communication and client understanding.

Building trust and rapport with clients requires active listening and understanding their unique goals and experiences.

Using technology can enhance client experiences and improve decision-making.

The future of the RIA industry lies in driving efficiencies, focusing on what matters, and maintaining a human-centered approach.

 
Quotes
"A really great sign of understanding material and a subject matter is being able to explain it in a way that's not fancy and uses all the jargon but simply allows people to take action." ~ Melissa Bouchillon
"Most of our decision-making is all around doing what's best for our clients first and foremost and then what's best to support the people working with us so that they really are giving our clients their best work." ~ Melissa Bouchillon
"Taking the role of mentoring seriously and making sure you have people within your firm who are willing to provide guidance to the new hires and the folks working at the firm is mission-critical." ~ Melissa Bouchillon

Links 

Melissa Bouchillon on LinkedIn

Sound View Wealth Advisors

Landings Military Family Relief Fund

The Marshes of Skidaway Island

Savannah Music Festival

Merrill Lynch

Nitrogen Wealth

UBS

Focus Financial Partners

Orion Advisor Solutions

Envestnet | Tamarac

Fidelity Investments

Charles Schwab

Hidden Levers

eMoney Advisor

Salesforce

Atomic Habits

James Clear


Connect with our hosts

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Jud on LinkedIn


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Produce game-changing content with Turncast
Turncast helps your company grow by producing top-quality content and fostering transformative conversations. We specialize in content generation, podcasting, digital strategy, and audience growth for fintech and financial services companies. Learn more at Turncast.com.