The Evolving Advisor Podcast The Evolving Advisor Podcast

In this episode, Jeff, Lou, and Jeff discuss:
Running a successful private practice to launching a national brand.
Reasons for going independent.
Creating the vision and keeping the local flavor of your firm.
Building a great team with next-generation talent.

Key Takeaways:
Think big! When you achieve your goals, think about what is next and set your next goal.
Working with a coach can better assist you in your transition from being an advisor to being a CEO and running an organization.
Look ahead, don’t focus on the past. Don’t hold attachment to the sunk costs that aren’t working for you any longer.
As a financial guide, you need to know your clients, the financial landscape, where they want to go, and the timeline they want to get there.
Harness the power of collaboration and team, delegate everything that someone else does better than you. Put the right people in the right seats, let them do their thing, and you will be amazed at what happens.

"The clients don’t care about the name - they care about the service they are getting." — Jeff Brown


Connect with Jeff Brown:
Website: https://stratosprivatewealth.com/
LinkedIn: https://www.linkedin.com/in/jeff-brown-15349b/

Connect with Lou Camacho:
Twitter:https://twitter.com/loucamachoswa
Website: https://www.stratoswealthpartners.com
LinkedIn:https://www.linkedin.com/in/loucamacho

Connect with Jeffrey Concepcion:
Website: https://www.stratoswealthpartners.com
Contact: https://www.stratoswealthpartners.com/contact
Twitter: https://twitter.com/Stratos_Wealth
Facebook: https://www.facebook.com/stratoswealthpartners
LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Greg discuss:

The evolution of FactSet and how it is still assisting financial advisors.
Changing technology and AI in the financial advising industry.
Techstack choices, flexibility, and integration.
How to become a best-in-class advisor from a tech perspective.



Key Takeaways:

Ask “Will this product help our clients solve a problem in their daily lives?” If you can answer yes to that question, looking into the product as an investment or service add for your firm could be worth it.
Focus on your client experience and you can’t go wrong.
As your firm grows, you will need different things for your clients and advisors. Looking for tech that will integrate with each other can help you scale more easily and effectively.
Use the client feedback as a guide for how you’re going to evolve your tech stack in the future.



"Focus on the end client, that should give you the answers they need about where you're headed. Concentrate on what they're telling you about how they're using services in the industry, and really use that client feedback as a guide toward how you build your technology stack." —  Greg King



Connect with Greg King:

Website: https://insight.factset.com/

LinkedIn: https://www.linkedin.com/in/greg-king-b650b33/



Connect with Jeffrey Concepcion:

Website: https://www.stratoswealthpartners.com

Contact: https://www.stratoswealthpartners.com/contact

Twitter: https://twitter.com/Stratos_Wealth

Facebook: https://www.facebook.com/stratoswealthpartners

LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Aaron discuss:

How conservative, moderate, and aggressive mean different things in different industries (and how they need to be described for financial advising).
Persistence and pivoting when things don’t go as planned.
Building a company and rebranding to better fit the mission.
Best practices for financial advisors.



Key Takeaways:

The client needs to be in the role of the hero - the financial advisor needs to be the Obi-Wan Kenobi to your client’s Luke Skywalker.
Understand how the value driver can apply to what your customers want and need.
Build your firm with an eye towards the future, whatever that looks like for you.
Make sure your firm is growing, no matter what the market is doing. The impact of the market should not be the only thing growing your firm.



"Growth is the lifeblood of businesses. If we're not being real with ourselves about how we're growing, excluding market impact, I think we're gonna be in trouble as advisory businesses." —  Aaron Klein



Connect with Aaron Klein:

Website: https://nitrogenwealth.com/

LinkedIn: https://www.linkedin.com/in/aaronklein/

Twitter: https://twitter.com/AaronKlein

Twitter: https://twitter.com/NitrogenWealth



Connect with Jeffrey Concepcion:

Website: https://www.stratoswealthpartners.com

Contact: https://www.stratoswealthpartners.com/contact

Twitter: https://twitter.com/Stratos_Wealth

Facebook: https://www.facebook.com/stratoswealthpartners

LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Matt discuss:

The inner dynamics of working with family to build a great firm.
Adopting technology for a better firm.
Understanding the ROI of technology and innovation.
The generational shift in wealth and in people.
Finding your why and getting your message distributed.



Key Takeaways:

The mentality needed around new technology is actually changing the mentality around change and failure.
Most new tech does not work immediately for you out of the box - you need to be prepared and ready for that.
You need to put money on the intangible things that technology assists with to fully understand the true ROI of your technology investments.
Creating efficiencies is the only way to increase your time building and maintaining relationships.



"We're not only changing the mentality but also changing where we're looking at innovation. We're not just looking inside of our industry, we're using other industries to teach us and inspire us on what's possible inside of our industry." —  Matt Reiner



Connect with Matt Reiner:

Website: https://www.mattreiner.com/

Website: https://www.yourwealth.com/ 

YouTube: https://www.youtube.com/channel/UCrca3m7ryDjzNrGs0rDzZFQ

Twitter: https://twitter.com/mattreiner

LinkedIn: https://www.linkedin.com/in/matt-reiner-cfa-cfp%C2%AE-35159216/ \

The Circle: https://the-circle.beehiiv.com/subscribe



Connect with Jeffrey Concepcion:

Website: https://www.stratoswealthpartners.com

Contact: https://www.stratoswealthpartners.com/contact

Twitter: https://twitter.com/Stratos_Wealth

Facebook: https://www.facebook.com/stratoswealthpartners

LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Claudio discuss:

Listening and watching for your client's needs.
Building a team to serve and growing through the generations.
Creating a pathway to ownership.
Unique investment opportunities within your advising firm.



Key Takeaways:

Consider making decisions in a committee to best serve your clients and invest in the best options. 
In order to build the best enduring firm, you need to train and build the second generation in a way that will make everyone feel like a partner.
If nobody manages an account alone, you allow others to learn and grow from the senior partners while also sharing the talents and ideas of the junior partners.
The US has the most accurate market for transacting in real estate investment properties in the world with the necessary legal protection you need with a tenant.



"In order for the company to endure, we need to build the second generation." —  Claudio Núñez Sanchez de la Barquera



Connect with Claudio Núñez Sanchez de la Barquera:

Website: https://nscasesores.com/



Connect with Jeffrey Concepcion:

Website: https://www.stratoswealthpartners.com

Contact: https://www.stratoswealthpartners.com/contact

Twitter: https://twitter.com/Stratos_Wealth

Facebook: https://www.facebook.com/stratoswealthpartners

LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/

In this episode, Jeff and Brian discuss:

The employment landscape in financial advising.
Escaping a captive work model.
The biggest benefits and risks in transitioning out of a firm.
Managing compliance.



Key Takeaways:

There is no indentured servitude. Anyone in a captive work model is able to leave, but you need to understand the risks and plan accordingly.
States and firms will vary on what is allowed during an exit or transition.
Have a plan and stick to that plan. People are the greatest risk to a plan because they are likely to deviate from those solid plans.
You need someone objective to look at your business to avoid conflict of interest and close the risk gaps.



"As transitions get larger and more complex with more people involved, it's really important to ensure that everyone is operating in lockstep and in alignment with one another because the success or failure of these transitions is often determined by the weakest link." —  Brian Hamburger



Connect with Brian Hamburger:

Website: https://marketcounsel.com/

Website: https://hamburgerlaw.com/

Website: https://about.me/hdelux

LinkedIn: https://www.linkedin.com/in/hamburger/

Twitter: https://twitter.com/HDelux

Twitter: https://twitter.com/MarketCounsel



Connect with Jeffrey Concepcion:

Website: https://www.stratoswealthpartners.com

Contact: https://www.stratoswealthpartners.com/contact

Twitter: https://twitter.com/Stratos_Wealth

Facebook: https://www.facebook.com/stratoswealthpartners

LinkedIn: https://www.linkedin.com/in/jeffconcepcion1/