Author: trtnetwork

WealthTech in the Weeds is a new series covering the broad yet critical path to financial services. The goal is to get together with industry experts and get into the details of building an effective, productive, coordinated, and comprehensive advice system. Jack is joined by Charles Smith, a partner in EY’s Wealth and Asset Management Consulting, and Mark Hoffman, CEO and Co-Founder of LifeYield. Charles has extensive experience in strategy, product management, client experience, business process redesign, and senior client management. He incorporates the latest product, digital, and tech solutions to drive growth, productivity, and profitability. Mark and his team at…

Episode 038: In this episode of The Connected Advisor, Kyle Van Pelt is joined by John Barrows, Founder and CEO of JB Sales. John has a wealth of experience in all aspects of business and sales, from making 400 dials a week to leading a self-funded team from startup through acquisition, starting his own business, and now working with some of the world’s fastest-growing and most dynamic companies. He believes that, when done right, sales is one of the greatest professions in the world, but when done wrong, it’s one of the worst. 
John talks with Kyle about bringing rainmakers back to the financial services industry. They delve into the challenges sales professionals face and the need for a strong work ethic to succeed. John emphasizes the value of having a plan, working hard, and consistently adding value to clients. He also shares practical tips on how to cut through the noise, build a personal brand, and leverage AI in sales and marketing.
Join us as we discuss:

[02:12] – What stops people from being rainmakers.

[07:10] – What hard work means in today’s day and age.

[11:42] – Utilizing networking groups for lead generation.

[14:28] – How salespeople can cut through the noise and get recognized.

[16:36] – A story about how providing value makes a difference in financial services.

[22:44] – Tactical tips on adding value to clients.

[30:31] – What it takes to build a brand.

[33:03] – How to avoid repeating the same message in sales.

[37:12] – John’s book recommendation about sales.

[40:04] – How John leverages AI.

[44:45] – Milemarker minute: John’s potential career outside sales, the NFL draft, his bucket list of travel destinations, and book recommendations.

[47:56] – Where to find John’s content.

Key Takeaways

In sales, having a strong work ethic is crucial for success. Sales professionals need to put in the effort and have a clear plan to achieve their goals.

Building a personal brand requires consistently adding value to your audience.

To cut through the noise, sales professionals should have a reason for every client interaction. 

AI can be a valuable tool in sales and marketing, but it should augment the advisor’s role rather than replace it. Sales professionals can leverage AI to curate content, stay updated on industry trends, and provide personalized insights to clients.

Quotes
“Touching base and checking in should be erased from every sales rep’s and producer’s vocabulary. They should start every conversation with, ‘The reason for my call is.’ If you cannot finish that sentence, you should not make the phone call. And it better be something better than, ‘I’m going to sell you something.'” ~ John Barrows 
“Most people don’t build their brands because there are no short-term results and no short-term gratification to it. A brand is a long-term play, but especially in this world of AI, if you are not working on your brand, AI is going to take over your brand.” ~ John Barrows 
“There’s always somebody one step ahead of you, and there’s always somebody one step behind you. Follow the people who are one step ahead of you, consume their content, and then translate it down to the people who are one step behind you.” ~ John Barrows

Links 

John Barrows on LinkedIn

John Barrows on Twitter

John Barrows on Instagram

JB Sales

Northwestern Mutual

Feedly

Michael Kitces

The Challenger Sale

The Challenger Customer

The JOLT Effect

Perplexity

Crystal Knows

Greenlights

Make It Happen Mondays Podcast

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

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The future of wealth management technology is intertwined with the power of generative AI. Microsoft’s strategic partnerships with industry leaders and the development of Microsoft Teams as a platform for collaboration and data aggregation demonstrate the practical applications of this technology. With generative AI, firms can unlock valuable insights, streamline processes, and deliver personalized advice beyond managing investment portfolios.In this episode, Jack talks with Amy Young, Director of Strategic Partnerships at Microsoft’s Financial Services business. Amy uses her capital markets, wealth management, and consulting background to ignite and structure innovative strategic partnership opportunities with Microsoft’s largest financial services customers worldwide.…

Episode 037: The pace of technological change is rapid, to say the least. But change often brings with it exciting opportunities. Technology innovation presents nearly endless possibilities and potential to improve how firms and advisors operate and serve their clients. 
In this episode of The Connected Advisor, Kyle Van Pelt talks with Mark Delato, Managing Partner and COO at Simon Quick Advisors. Mark plays a significant role in providing comprehensive financial advice to high-net-worth individuals and families, and he brings years of experience to the discussion of rapidly changing technology. 
In this wide-ranging conversation, Kyle and Mark talk about the transformative effects of AI and technological innovation on wealth management. They also discuss the challenges of integrating family office services within an RIA framework, focusing on the importance of multi-generational teams, goal-based financial planning, and maintaining a high-quality customer experience while scaling personalized advisory services. Mark emphasizes the need for a cohesive technology platform to support operational efficiency and to meet the evolving demands of clientele, while also reflecting on his personal motivations in finance, inspired by his grandfather’s financial wisdom.
Join us as we discuss:

[02:04] – Mark’s money moment

[03:42] – Balancing saving and enjoying wealth

[07:34] – Simon Quick Advisors’ unique positioning

[12:09] – The challenges of offering family office services at scale

[18:54] – The importance of exceptional service for financial advisors

[24:12] – Leveraging technology in wealth management

[28:53] – Mark’s commitment to nonprofit work

[31:34] – Milemarker minute: lightning round

 
Key Takeaways

Embrace technology and AI in financial planning to enhance efficiency and improve data usage, as it is rapidly changing the financial industry and offering new possibilities for better service delivery.

Recognize the importance of goal-based financial planning, and don’t shy away from important conversations about legacy.

Consider a multi-generational team approach to cater to the diverse needs of different generations within client families. This helps ensure long-term client relationship satisfaction.

Excellence in service is non-negotiable; it requires a culture of continuous improvement and a mindset of ownership.

Quotes
“The independent advisor community certainly has been more in tune, I think, with the goals-based planning approach for many, many years now. Having those kinds of deeper meaning conversations, whether it’s philanthropic giving or whether it’s providing the next generation and beyond with wealth. Those softer conversations are what’s leading the charge to get people to actually enjoy their wealth.” ~ Mark DeLotto
“The service standard, simply put, is just excellence. And it permeates from the top. You have to treat every client like they’re all the only client.” ~ Mark DeLotto
“To me, it all comes down right now, at this point, to data — data quality, single source of truth, where is everything and how can we get it. And it’s still a challenge for us, and what I’ve been focused on the last three to four months is, how can we improve on that?” ~ Mark DeLotto

Links 

Mark DeLotto on LinkedIn

Simon Quick Advisors

Villanova University

ArcMorris

Michael Kitces

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

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Artificial intelligence (AI) has become a buzzword in the financial industry, with many claiming it will revolutionize wealth management. However, there is often a need for more clarity about what AI can do and how it can benefit financial advisors. How can advisors use AI to attract quality leads, streamline marketing workflows, and provide personalized advice to clients?In this episode, Jack talks with Jonathan Michael, Founder & CEO of Wealth I/O. With a marketing and sales background, Jonathan deeply understands how AI can be leveraged to enhance marketing strategies and drive business growth. He works closely with advisors to help…

Episode 036: Athletes are often stereotyped as prone to making poor financial decisions. While this perception is unfair, the real problem lies in a lack of financial education. This gap can leave them susceptible to mismanagement and potentially risky financial ventures. Fortunately, with the right tools and support, professional and college athletes can overcome these obstacles and build a legacy of wealth far beyond the playing field.
In this episode of The Connected Advisor, Kyle is joined by Brandon Averill, Partner at AWM Capital and former professional baseball player. They discuss the unique challenges and opportunities in serving professional athletes and their families. He emphasizes the importance of education in managing finances, shares insights on the complexities of athlete taxation, and highlights the impact of the recent NIL legislation on college athletes.
Join us as we discuss:

[01:55] – Brandon’s money moment that led him to the financial advisory industry.

[04:17] – How athletes can create multi-generational wealth.

[07:28] – The importance of financial education for athletes.

[09:53] – The emergence of NIL deals in college baseball.

 [11:01] – Athletes’ income and tax allocation.

[14:28] – The impact of content creation on business growth.

[18:00] – The regenerative nature of the sports market.

[19:54] – The challenges of finding and retaining talent.

[22:00] – People, technology, and systems integration at AWM Capital.

[24:13] – Brandon’s outlook on the future of the industry.

[26:12] – Brandon’s Milemarker minute: best baseball park in America, favorite wine, travel destination, and the best part of being a financial advisor.

Key Takeaways

AWM Capital focuses on serving athletes and their families, providing a human-centered family office approach to create multi-generational wealth and financial success.

Athletes face unique financial challenges and stereotypes due to a lack of financial education and guidance. It is crucial to provide education and support to help them make informed financial decisions.

The recent NIL compensation for college athletes has created new opportunities and challenges in managing their wealth.

Quotes
“The athlete gets this bad rap like we’re this uneducated, blowing money-type situation. We do a terrible job as a country of educating athletes on finances. So, to us, it wasn’t an athlete problem. It’s an education problem.” ~ Brandon Averill
“Money is just a tool. So, you always want to focus on making sure that you’re doing the proper things to maximize your wealth, which could ultimately impact your family or the causes you care about.” ~ Brandon Averill
“It’s unfortunate that most of the wealth, even in sports, is still controlled by brokers in wirehouses. We felt like that wasn’t the best way to do it.” ~ Brandon Averill 

Links 

Brandon Averill on LinkedIn

Brandon Averill on Twitter

AWM Capital

Morgan Stanley

Brian Cain Peak Performance

Deovlet Sonny Boy Red

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

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.

The annuity industry is experiencing a surge in popularity, with experts buzzing about its record sales growth and advisor and consumer adoption. But what’s driving this growth? It all boils down to the industries’ ability to tap into the deepest desires and concerns of consumers and financial professionals. As annuities address the anxieties and aspirations of individuals in today’s uncertain world, they are positioned to continue their upward trajectory, providing generations with the financial security and peace of mind they need.In this episode, Jack talks with Tim Seifert, Senior VP and Head of Retirement Solutions Distribution at Lincoln Financial Group.…

Episode 035: The conventional route to becoming a financial advisor is no longer the only path to success. The industry is evolving, demanding a more holistic and strategic approach to developing elite, successful, and growing advisors. The future now lies in joining established practices, where guidance from experienced advisors, exposure to their expertise, and participation in a well-defined succession plan can make all the difference.
In this episode of The Connected Advisor, Kyle talks with Alex Goss, Managing Partner at NewEdge Capital Group and CEO & Co-Founder at NewEdge Advisors. Before serving at NewEdge Advisors, Alex built his father’s advisory practice into an $8 billion RIA. In his current role, Alex is fully dedicated to understanding what successful advisors need. His mission is to provide advisors with the tools and flexibility they require to better serve their clients without the limitations wirehouses and big banks force on advisors.
Alex talks with Kyle about his journey in the wealth management industry and his passion for mentorship. He explains how NewEdge Advisors is creating a home for successful, growing practices by providing resources, better pricing, and technology integration. Alex also provides his insights on the industry’s future, where technology and the emergence of regional culture-first firms offer advisors more choices and opportunities for growth.
Join us as we discuss:

[02:07] – The money moment that inspired Alex to start a financial advisory business.

[06:14] – Why Alex is passionate about mentoring.

[09:32] – Building career paths and opportunities in wealth management.

[13:37] – How people at NewEdge Capital grow and succeed.

[17:56] – How NewEdge integrates technology into its practice.

[21:20] – Alex’s outlook on the financial planning industry.

[27:06] – Milemarker minute: favorite restaurant, LSU Tiger prediction, golf course bucket list, favorite holiday.

Key Takeaways

Financial advisors are business owners. They have the potential to build successful small businesses by taking care of their clients and building strong relationships.

The wealth management industry is experiencing a shift towards a more entrepreneurial model, where financial advisors are seen as business owners rather than employees.

Mentorship and exposure to successful individuals are crucial in inspiring and empowering young people to realize their potential and pursue careers in the industry.

New Edge Advisors focuses on supporting established, successful practices by providing resources, better pricing, and technology integration. The firm aims to create a home for these practices and help them grow and scale.

Quotes
“Our country’s number one asset is our youth. Once a kid realizes they have everything they need to do anything and everything that anybody else can, it’s amazing how transformative that can be in their life.” ~ Alex Goss
“It takes associateship, mentorship, and time to become a really successful advisor. Opportunity comes through exposure, mentorship, seeing other people you can aspire to become like or accomplish what they’ve accomplished.” ~ Alex Goss
“The traditional path is dead. The future now is more often joining an established practice and becoming part of the succession.” ~ Alex Goss

Links 

Alex Goss on LinkedIn

NewEdge Capital Group

NewEdge Advisors

Nola Angel Network

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

Subscribe and stay in touch

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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.

WealthTech in the Weeds is a new series covering the broad yet critical path to financial services. The goal is to get together with industry experts and get into the details of building an effective, productive, coordinated, and comprehensive advice system. In the past, financial services focused on managing individual accounts in silos. This fragmented approach limited advisors’ ability to minimize tax burdens and convert assets into sustainable income streams, especially in retirement. However, as the industry evolves, advisors and investors recognize the importance of creating comprehensive advice platforms. The challenge lies in operationalizing these platforms to allow advisors to translate…

Episode 034: Providing excellent client service is more than just answering phone calls and replying to emails promptly. It means cultivating a loyal client base of raving fans. Achieving this requires building deep connections with clients and knowing them personally. Given the demands of advisor schedules and the complex nature of the industry, how can advisors deliver this level of personalized service?
In this episode of The Connected Advisor, Kyle talks with Anand Sheth, CEO and Co-Founder of Pulse360. As a long-standing practice manager in the advisory industry, Anand recognized the inability to create professional, customized, and timely meeting documentation. He created Pulse360 to help financial advisors automate and streamline creating client deliverables, including meeting prep agendas, follow-ups, client tasks, and annual summaries. Anand aims to get advisors back to advising versus doing administrative work.
Anand joins Kyle to discuss how to turn clients into raving fans. He emphasizes the need for advisors to go beyond the basics of client service and provide a personalized and exceptional experience. Anand also introduces Pulse360 and shares how the software helps advisors streamline their operations, capture valuable client data, and tell the story of the value they provide.
Join us as we discuss:

[01:38] – The money moment that led Anand to the wealth management industry.

[02:49] – Anand’s transition from working directly with clients to stepping into a compliance-focused role.

[04:24] – The challenges of being the COO of a growing RIA.

[07:20] – How advisors can create raving fans out of their clients.

[14:49] – The value proposition of Pulse360.

[18:10] – How Pulse360 organizes big data.

[20:39] – The impact of AI on the industry and beyond.

[27:06] – How Anand uses photography to help underprivileged people.

[29:59] – Milemarker minute: Nikon vs. Canon, place to travel, favorite conference.

Key Takeaways

Providing exceptional client service goes beyond answering phone calls and replying to emails within 24 hours. Advisors can turn clients into raving fans by personalizing their interactions and anticipating their needs.

Data fragmentation and the lack of tools that communicate with each other are operational challenges for advisors. 

Pulse360 aims to provide a systematic way for advisors to enter and access client data, communicate with clients, and streamline their operations. It allows advisors to stay informed and showcase their expertise and personalized service.

Quotes
“I was lucky enough that the different advisors I worked with were always high-performing. And one of the things that makes them successful is their eye for detail and how they want to provide an amazing client experience.” ~ Anand Seth
“I built Pulse360 to create a systematic way where it’s easy for folks to enter their data, communicate with clients, and create raving fans out of their clients.” ~ Anand Sheth
“I built Pulse360 because I wanted the advisor and the team to create raving fans because those create referrals which grow your practice.” ~ Anand Sheth

Links 

Anand Sheth on LinkedIn

Anand Sheth on Twitter

Pulse360

Nitrogen Wealth

Redtail Technologies

Wealthbox

Salesforce

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

Subscribe and stay in touch

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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.