Between Now and Success – Détails, épisodes et analyse

In 1984, Andy Schwartz and his twin brother Scott joined a startup Northwestern Mutual district agency in New Jersey. Four decades later, their firm, OnePoint BFG Wealth Partners, manages approximately $15 billion in assets.

Andy, now CEO and Managing Partner, describes their early days as operating like a "band of pirates" sharing resources and reinvesting heavily in building capacity. His firm's trajectory accelerated significantly when they left Northwestern Mutual in 2015 to become independent, and in 2024, Andy and Scott took an investment from Joe Duran's Rise Growth Partners to fuel their next stage of expansion.

What makes Andy's story compelling isn't just the size of the firm he built, but his intense focus on the fundamentals: outworking the competition, relentlessly reinvesting in the business, and creating a culture where everyone -- from the newest advisor to the receptionist of 30 years -- shares in the firm's success.

On today's show, Andy Schwartz and I discuss the pivotal moments in his extraordinary career, his philosophy on giving equity to team members, and how he plans to scale a $15 billion firm even as the bottom might be "falling out" for financial services.

I recently had the pleasure of joining Dave Zoller on his YouTube channel, Streamline My Practice, to discuss something I've been thinking deeply about lately: the difference between owning a business and being owned by your business. If you're a financial advisor wondering whether you've built a thriving enterprise or just created a demanding job for yourself, this conversation is for you.

Dave and I discuss:

• The Four Levels of Advisory Business Evolution
• The Identity Shift That Changes Everything
• The Power of a Compelling Three-to-Five-Year Vision
• Two Real-World Examples of Extreme Freedom
• The Get-Keep Framework
• Technology, AI, and Practical Action Steps for Advisors

Guest: Dave Zoller, CFP®, owner of Streamline Financial Services in Warrenville, IL. Streamline currently manages over $450 million in assets for 250 client households.

In a Nutshell: Digital marketing isn't about trying to strike lighting and "go viral," although that certainly helps! The advisors I've talked to who have mastered YouTube, LinkedIn, Facebook. email, and other channels turn clicks into clients through consistency, rigorous analytics, a personal touch that connects them to their audience, and yes, some luck of being in the right place at the right time.

On today's show, Dave Zoller and I discuss how advisors can get started with YouTube marketing or optimize their existing channels. We cover everything from ideation and workflow to Dave's meticulous process for steering ideal clients towards that first phone call.

Interestingly, Dave's biggest problem is his lack of advisor capacity to serve all the qualified leads that reach out to his firm. If the prospective clients don't have $1.5 million or more to invest, they don't get on an advisor's calendar. So, if you are looking for a sweet advisor role, reach out to Dave--he's hiring!

Dennis Morton, Jr. CFP,® CHFC® is a Founder and Principal at Morton Brown Family Wealth in Allentown, PA. I've known Dennis for several years and he and his co-founder and business partner, Kathryn Brown, have built a really outstanding firm.

He also hosts one of my favorite podcasts, "Leading with Purpose." Dennis was kind enough to let me share this outstanding episode on developing versatile leadership. Joining Dennis for this conversation about leadership, blind spots, and adaptability are Craig Reynolds, former CEO of Cigars International and current Senior Advisor to Scandinavian Tobacco Group, and his Executive Coach, Eleanor Lawrence of Human Dynamics, LLC and the Center for Creative Leadership.

Imagine you've just given a fantastic presentation to a roomful of executives. You're pumped because you know all your preparation and rehearsal paid off. And you can tell from the energy in the room that your audience was knocked out too.

Then, as you're shaking hands, one of the execs "compliments" you by saying they were amazed by your intelligence because given your ethnicity, it had predestined you to a life of mediocrity. That's exactly what happened to today's podcast guest, Cecile Munoz!

I was stunned when she shared that story with me. But, in a certain sense, I wasn't. Anyone who's been in financial services a couple decades is far too familiar with incidents like that. Too many pockets of our industry were boys' clubs, and usually, the higher up the ladder you got, the whiter and more male the organization looked.

Thanks to executives like Cecile, that's finally changing in a meaningful way. On today's episode, Cecile talks about how her experiences as a Hispanic woman inspired her to create an executive search company that's helping advisory firms redefine what leadership looks like, especially post-pandemic.

Is the key to growing your business narrowing your niche?

I know that sounds contradictory. And I know many advisors worry about the "Million-Dollar Prospect" who swipes past your firm because she's a pediatrician and you specialize in orthodontists.

But if you're one of 10 advisors in town that offer the same services, you have a 10% chance of winning a prospect. If your specialization, your marketing, and your values set you apart, then prospects who are drawn to your firm have a binary choice: you versus everyone else. Your 10% chance just skyrocketed to 50%!

My guest today, Samuel Deane, started with a pretty narrow niche: comprehensive planning for millennials working in tech. Then, Samuel zeroed in on a niche within his niche where Deane Financial Partners could establish a real competitive advantage and make a positive impact on communities across the country.

Due to advances in technology and the rise of centralized systems that limit privacy, the very nature of how we think about money and the government's role in it is evolving.

The clearest manifestation of this is the rise of cryptocurrencies, of which bitcoin is the most prominent.

In today's conversation, we go back 5,000 years to explore the beginning of money and then trace how the way we think about money and how we distribute money has evolved over time. Along the way, we touch on gold, central banking, Modern Monetary Theory and yes, bitcoin. It's a wild ride!

My objective in this episode is to give you some historical context that has led to the development of bitcoin and how it is being used today so you can speak more confidently to your clients when they ask about it.

My guest to discuss all this is Michael Casey. Michael is a true pathfinder. He spent over three decades in journalism including 18 years with Dow Jones and the Wall Street Journal. He's been in business and academia, and he has a real grasp on the big technological, geopolitical, economic, and social trends that impact businesses, communities and individuals.

Currently, he's the chief content officer at CoinDesk.

In addition, he's the author of five highly acclaimed books including:

• "The Truth Machine: The Blockchain and the Future of Everything"
• "The Social Organism: A Radical Understanding of Social Media to Transform Your Business and Life"
• "The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order"

In a Nutshell: To stand out from all the fake news and clickbait cluttering your audience's inboxes, you have to produce content that's authentic, entertaining, interesting, and above all, human.

Guest: Brooke Southall, the founder of RIABiz. Back in 2009, Brooke built his online-only news publication on traditional journalistic values like using multiple sources and editorial analysis. Brooke and his team captured the rise of new models for providing client-first financial advice against the backdrop of Wall Street's decline during the Great Recession. Today, RIABiz is one of the go-to sources for deep, sophisticated analysis of the most important issues affecting the RIA business.

My Key Takeaways: To create engaging, authentic content:

• Don't be boring. Before you even start writing, ask yourself, "Is this an article I would click on or swipe past?"
• Slow down. Brooke believes that the race to be first has really hurt online journalism. Working important news into your regular communication rhythm will result in better content than a rushed newsletter.
• Keep your eyes open. Brooke says the key to writing good articles isn't great writing ability, it's curiosity about the world and other people.

Also Learn:

• Why hiking with his dogs is an integral part of Brooke's writing  process.
• How to use other people's stories as a jumping-off point for your next blog or newsletter.
• What separates a compelling headline from pure clickbait.
• Why Brooke believes showing weakness is more important to good writing than demonstrating success.

Building one advisory firm with billions in AUM is hard enough. Joe Duran has done it twice, most recently selling United Capital to Goldman Sachs and becoming Head of Goldman Sachs Personal Financial Management. 

We had an insightful conversation about how he did it and what he sees for the future of financial advisors and for the advice they deliver.

In March 2020, Covid-19 lockdowns were starting, businesses were scrambling, and the markets were in a state of shock.

Despite all that, Creative Planning, Inc. had one of its best months ever.

According to President and CEO Peter Mallouk, his firm brought in $500 million in net new assets. Instead of panicking and trying to get their money out of the markets, Peter says many of his clients were giving him more money to manage – and sending more referrals as well.

The seeds that Peter's firm planted many years ago led to his clients turning to the firm during a moment of unprecedented uncertainty. While great marketing will get you noticed, it's the total client experience package that will get and keep clients as Peter's firm has amply demonstrated.

Some advisors lament the chaos caused by Covid-19, but others realize there's a tremendous opportunity to go on offense and see this as a time to reach out to people who need you now more than ever.

Covid-19 is teaching investors that there's a big difference between auto depositing into a robo account and working with a professional who is sensitive to your unique life needs.

And, increasingly, people are willing to pay for that difference, if you can deliver it.

On a recent virtual event, Peter and I talked about how advisors at any level can develop the kind of five-star experience that underscores your value to existing clients, drives referrals, and protects your business from fee compression.