Category Archives: Uncategorized

Episode 88 – Winning Strategies of Elite RIAs (Part One) – With Mike Watson

Advisorpedia, Finance, Industry Innovators, Power Your Advice, Uncategorized, , , , , , , ,

Axos Advisor Services is an RIA custodian that delivers individualized attention, intuitive technology, and knowledgeable consulting support to financial advisors. In his role as the head of RIA Custody there, Mike Watson is in a unique position to observe, understand and help advisors make sense of the constant evolution of client expectations and their own business models. 

In today’s episode, Doug and Mike talk about Axos Advisor Services recent research study: “Winning Strategies of Elite RIAs”:

  • Who are these elite RIAs, and what makes them “elite”
  • What characteristics make them unique
  • Strategies that make RIAs more productive and profitable
  • How elite RIAs define themselves differently from others in the same space
  • Why their service model and use of capital sets them apart
  • How are elite RIA fees different from other, and whether or not Mike sees a change coming to fee structures

Resources:  Axos Advisor Services

 

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Episode 87 – Moving Captive Advisors to the Land of the Free – With Danielle White

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Danielle White is the owner of Myriad Advisor Solutions, a business consulting firm and one-stop shop for independent financial advisors.  

Doug and Danielle sat down at the T3 Advisor Conference and talked about the continued migration of advisors and why they decide to change firms. They also discuss

  • The fears/concerns that prevent advisors from moving
  • The mechanical things advisors need to consider when going independent 
  • How Danielle recommends advisors think about coming up with a name for their new firm
  • How Myrad Advisor Solutions helps independent advisors think about and build their tech stack
  • Examples of when Myriad has helped advisors go independent

Resources: Myriad Advisor Solutions

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Episode 86 – How to Add Ideal Clients by Getting Personal– With Drew Force

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Drew Force is the founder and creative director of Force Brand Design, a brand development agency in Portland, OR.  Drew has been helping people and companies go beyond storytelling to tell the truth for decades. 

In today’s episode, Doug and Drew discuss marketing – where they both see the industry doing well, and where they see room for improvement. They also discuss 

  • Why it is important to be deliberate with the language you use
  • Why you should think beyond investable assets when identifying your ideal client
  • Why it is important to find and define your purpose
  • How to think about and clarify what makes you unique
  • Drew’s Short Form Bios™, and how they help tell a more personal story
  • What does it mean to “tell the truth” in marketing

Resources: Force Brand Design



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Episode 85 – A Suite of Apps That Can Transform Your Business – With Gerry Murphy

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Gerry Murphy is the CEO of Arcus Partners, a forward-thinking, fintech and service-focused company whose team and unique brands align with their clients, partners and investors to continuously improve how financial services companies run and grow their businesses.

Doug and Gerry sat down at the T3 Advisor Conference and talked about his passion for new technology and why he joined Arcus Partners to help solve advisor challenges. They also discuss

  • Technology changes faced by advisors today
  • How COVID pushed the digital transformation to move faster
  • How Arcus’ “360” products can help advisors transform workflows & better manage their businesses
  • How their apps help improve the client experience 

Resources: Arcus Partners

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Episode 84 – Make Your Clients the Hero of the Story – With Kristian Borghesan

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Kristian Borghesan is the Vice President of Marketing and Growth at FutureVault, an industry-leading provider of secure document exchange and Digital Vault solutions for the financial services industry that enables institutions, advisors, and clients to manage information better, together. 

Doug and Kristian sat down at the T3 Advisor Conference and talked about how technology can enable clients to deliver a better client experience. They also discuss

  • How an automated onboarding and workflow processes can lead to deeper share of wallet
  • What it means to deliver a “fully-integrated experience”
  • How COVID changed client expectations of data security
  • What should advisors take into account when considering new technologies
  • How FutureVault helps advisors add value to their clients’ experiences

Resources:  FutureVault



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Episode 82 – Building A Culture of Going the Extra Mile – With Mike Nessim

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Mike Nessim is the CEO and Managing Director of Kingswood U.S., an SEC-registered RIA and a FINRA-licensed broker/dealer that offers comprehensive wealth management and business-building services designed specifically for the independent financial advisor. 

In today’s episode, Doug and Mike talk about Kingswood’s extraordinary growth and how his leadership style and focus on working hard, trying to do the right thing and being fair with people has helped shape the company. They also discuss:

  • The growing advisor need for help with succession planning
  • How Kingswood’s liquidity can help advisors decouple from their current broker-dealer
  • How alternatives can help make advisors more competitive
  • Why Kingswood is seeing an increase in the number of advisors between $50-$150 million looking to offload some of the operational aspects of their business to allow themselves to focus on their clients
  • Why Mike thinks advisors are choosing to join Kingswood now more than ever
  • What Mike is excited for in the future

Resources: Kingswood U.S.



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Episode 65 – Helping Advisors Find a Better Match – With Ryan Shanks

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Ryan Shanks is the founder & chief executive officer at FA Match, the first dedicated career platform to help financial advisors find the best home for their book of business.

Doug and Ryan sat down at the MarketCounsel Summit and talked about FA Match’s impressive growth over the past few years. They also talk about

  • What is driving more than 40,000 advisors to change firms this year
  • How recruiting has evolved from in-person to online interaction and back again
  • Highlights from Ryan’s podcast “The BS Recruiters Won’t Tell You”
  • How FA Match helps with succession planning as advisors (and their clients) age
  • What Ryan is excited for in 2022

Resources:   FA Match | FP Transitions

 

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Episode 60 – Recognize When to Partner to Drive Growth – With Scott Rothbort

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Scott Rothbort is the Founder and President of Lakeview Asset Management, an advisory firm that specializes in the development of multi-strategy investments that seek to generate returns that exceed benchmarks of the client’s choosing. They accomplish this by developing and executing low-risk, proprietary trading strategies, and by using a variety of investment techniques and tools that include options, structured products, and ETFs.

In today’s episode, Doug and Scott talk about Scott’s road to financial services and why he started Lakeview Asset Management. They also discuss

  • How Scott adapts in an ever-changing industry
  • How Scott grew his business, and when he knew he needed an established partner to help him go further
  • His experience in the Kingswood U.S./Benchmark Investments onboarding process
  • Why mobile home communities remain attractive to tenants throughout the pandemic and through current economic pressures
  • What’s next for Lakeview Asset Management

Resources: Lakeview Asset Management 

 

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Episode 58 – The Importance, Opportunity & Challenges of Investing in Senior Housing – With Jade Miller

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Jade Miller is the vice president of capital markets for the Bourne Financial Group, a real estate financial equity company specializing in healthcare development, acquisitions and asset management. 

In today’s episode, Doug and Jade talk about how Bourne develops and acquires private pay senior housing across the United States. They also discuss

  • How Jade got involved with financial services and commercial real estate
  • Whether or not she is seeing a recovery in senior housing after the pandemic
  • The types of facilities Bourne invests in
  • Why there is such a huge need for senior housing
  • The due diligence Bourne conducts on each opportunity, and the economic challenges they face
  • Why technology is the biggest driver in this area

Resources: Bourne Financial Group

 

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Episode 57 – Benefits of Working with an Organization That Has Strong In-House Compliance – With Mike Alsoraimi

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Mike Alsoraimi is the Co-Chief Compliance Officer for Kingswood Group U.S., An SEC-registered RIA and a FINRA-licensed broker/dealer that offers comprehensive wealth management and business-building services designed specifically for the independent financial advisor

In today’s episode, Doug and Mike talk about the complexity of managing compliance across Kingswood’s two Broker-Dealers and two RIAs. They also discuss

  • The current state of compliance in the financial services industry
  • Whether it’s getting tougher or easier to “get things through compliance” 
  • Why it is important to automate the compliance process
  • Reg BI – who it affects, and who it helps
  • What regulators are looking for
  • What regulators mean by “active effort”
  • How advisors can communicate with their clients about regulation and how it exists to protect the investor

Resources: Kingswood U.S.

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