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

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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 83 – Growing Your Practice Through Tax Planning – With Chris Field

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Chris Field is the Chief Growth Officer at Holistiplan, a tax planning software solution that helps financial planners be more comprehensive and more efficient. 

Doug and Chris sat down at the T3 Advisor Conference and talked about how taxes are part of every thing an advisor does for a client, and how Holistiplan can help advisors conduct forward-looking tax planning reports to better meet their clients’ needs. They also discuss

  • How Holistiplan educates advisors on current tax regulations
  • The difference between tactical and strategic tax planning
  • The importance of close collaboration between advisors and CPAs
  • How advisors are using Holistiplan to build deeper relationships and grow their businesses

Resources:  Holistiplan



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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 81 – Technology Drives Innovation in Clearing – With Michael Scaplen

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Michael Scaplen is the senior vice president of sales and relationship management at Axos Clearing, a company that prides itself on delivering flexible solutions backed by innovative technology, experienced industry professionals and access to leading bank products. 

In today’s episode, Doug and Michael talk about technology and innovation – how clearing houses in general should be thinking about them and how technology can enhance what a clearing firm can offer to broker-dealers.  They also talk about

  • What innovation means for a clearing house
  • Why the Axos Clearing API Store is the foundation of their innovation
  • How Axos is thinking about cryptocurrency
  • Why the speed at which clearing moves has intensified over the past five years
  • What Axos’ S-Block product is and why it is important
  • Why a holistic digital offering – a clearing ecosystem – is the holy grail of clearing
  • What Axos Clearing is working to build that is unique for correspondents
  • How correspondents can tell if their providers are innovating or staying stagnant

Resources:  Axos Clearing LLC

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Episode 80 – Build the Holistic Offering Your Clients Need – With Mike Watson

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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 the re-emergence of the term “holistic advisor” and how the convergence between advisory practice types is driving advisors to once again redefine their practices to differentiate themselves. They also talk about

  • What it means to be a holistic advisor in 2022
  • The value of becoming a more holistic advisor – for their clients and for their practice
  • Why younger advisors are more likely than older to adopt this model
  • What trends Axos Advisor Services is seeing as their clients work to expand their offering to banking solutions, insurance,  annuities and other solutions
  • What are some first steps advisors can take to expand their offering and build deeper relationships with clients
  • How expanding your offering is good for your clients

Resources:  Axos Advisor Services

 

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Episode 79 – The Importance of the Right Clearing House Partner – With Michael Scaplen and Brian King

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Realto, through its partnership with Axos Clearing, became the first ever platform to have a fully electronic secondary transaction of an alternative investment. 

In today’s episode, Michael Scaplen, Senior Vice President of Sales at Axos Clearing, LLC, and Brian King, CEO and Co-Found of Realto again join Doug for a discussion about the importance of choosing the right partner for now and into the future.

  • Why do firms choose a specific clearing partner to suit their needs? 
  • How Axos is working to expand its FinTech capabilities
  • How far in advance Realto worked to get the right partner in place
  • How Axos invests in its clients by bringing in the correct resources to design solutions to meet their needs
  • The questions Realto needed answered as they searched for the correct clearing partner

Resources: Axos Clearing | Realto

 

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