Have you ever heard of a benevolent dictatorship? This is a system where one person at the top makes decisions with kindness, care, and wisdom. While we might never see a benevolent dictator in government, this model can be incredibly effective in business. In today’s episode, we’re going to discuss why advisors need to lean into this effective for…

For those that don’t know, I volunteer at a local animal shelter near my house and spend time walking the dogs there. While this non-profit does tremendous work in the community, it doesn’t always operate very effectively as a business. That reminds me very much of the challenges that we see as advisors and there are some real insights that can car…

Today we want to get into something that’s been a big part of our practice and should be an excellent opportunity for advisors in the future, especially if you’re in your 30s or 40s. What we’re talking about in this episode is buying a practice, which we believe is the quickest way to have instant revenue. But it’s not without problems, which we wi…

Are you a financial advisor dreaming of the day you can step back from the daily hustle and still ensure your practice prospers? Succession planning can be a challenge for advisors because few of us can really articulate what it is that we do on a daily basis that would allow someone to run the operation for us, and that makes it hard to step away.…

Fear is a very powerful emotion and it can hold us back from reaching our potential personally and professionally. I started thinking a lot more about this after a trip to Arkansas where I spent some time with business partners to share ideas on growth. That’s why I invited Nina Cooke, author of Renegade Mindset, back to the show to help us work th…

The very nature of the weather has always been like an investment portfolio in terms of unpredictability, and all the cold weather we’ve been dealing with to start 2024 has us thing about that. You could very easily use the weather to explain how a client’s portfolio is going to work over time and how you can prepare for that. That’s the basis of t…

As we turn the page on another new year, we hope you are excited about the start 2024 and focusing on hitting new milestones in your practice. Now, we know that people like making resolutions to start January, but resolutions are a bit silly when you think about it. If you want to make improvements personally or professionally, why wait for a new y…

Women are different than men and what they value is different as well. That’s particularly true when it comes to financial services. For a long time, our industry has done a poor job at addressing the needs of women and have catered to men (and still do to a large extent). What can you do to change that and become an effective marketer to women? Le…

Today we’re going to dive into a common dilemma faced by many financial advisors. What should you do when clients notice that cash is outperforming their portfolios? Do you give in to temptation? Do you shift everything to a guaranteed fix like an annuity, park it in cash, or adopt a market-timing attitude? The choices are numerous, and the pressur…

As technology continues to improve and the next generations get more comfortable with doing their own planning, the financial advisor profession will likely begin to shrink in the coming years. That doesn’t mean there’s not a future in the industry, because those who remain standing will likely be very successful. What it does mean, however, is tha…

In this episode of the Profitable Advisor Podcast, Stacey Brown Randall, a renowned expert in generating business referrals, joins Dan to discuss the importance of generating referrals without directly asking for them. Stacey emphasizes the power of referrals and why a different approach is needed to cultivate them effectively. Throughout the episo…

When you work with a number of advisors around the country, you get to see some of the common mistakes that people often make in this profession. As we spend time with some younger advisors, we’ve found that there are a few things that we keep pushing because of how important it is for the business. Today we’re going to share these three key mistak…

If you listen to this show enough or read a lot of what we write, you know that we believe strongly in advisors striving to be the go-to for their given niche. If you’re not doing that, you’re going to be competing against larger corporations with a lot more money, and they’re going to own the generalist market. This is something that will continue…

The centers of influence model for advisors is great in theory but we’ve found that it’s often a one-way referral relationship. The idea of going after accountants and CPAs to bolster your business isn’t as beneficial as you might believe. That’s why we’ve been strong proponents of finding a target market niche and becoming your own center of influ…

If you’re like us, there are things you do that you really wish you did differently. This manifests itself all different forms - diet, exercise, the amount of reading you do, or the changes in your practice you just can’t get around to doing. For whatever reason, these things are difficult to stop. As the old saying goes, “Old habits die hard.” But…

We had the opportunity recently to buy a practice, which we encourage advisors to do because it’s a great way to grow your business. But you have to go into this process knowing it won’t be a 100% fit. When you inherit another advisor’s practice, you’ll be getting clients that might have been a great fit for the previous owner but not so much for y…

Today we want to address something that we feel very strongly about and that’s the future of our profession. It’s time to start worrying about where we’re headed. We’re in a position much like Blockbuster was in 15 years ago. The world changes very rapidly and technology allows us to change the way we consume information and how we interact. If a b…

Have you ever heard the political phrase, “Never let a good crisis go to waste?” That’s probably been attributed to a few different politicians through the years, but the underlying message is still the same. In a much more benign sense, a financial advisor can also take advantage of a crisis to market their services. When things get uneasy, people…

As we begin another new year, it’s natural to start thinking about goal-setting and ways that we can improve the business in 2023. Even if you don’t really care much for resolutions, putting some steps in place will allow you to measure and track your progress. We spent some time in recent weeks looking ahead to the new year and thinking about the …

As financial advisors, a lot of us don’t like to think of ourselves as someone who works in sales. But if you own any business, then you are in sales because without customers, you don’t get to do what you do. What we’ve learned through the years about sales is that what makes it work well is having a system, and we’ve tried many different types. M…

It’s that time of the year when you should start thinking about plans for the new year, but trying to set goals for an entire year isn’t the best approach. When you set goals for a year, it’s very easy to forget about them over the course of 12 months. But if you can break that down into three-month periods, it becomes much easier to track and you’…

So much of our efforts as financial advisors are focused around getting new clients. From marketing to selling, you have to be able to attract clients to have a business so it is an integral part of what we do. Sometimes, though, we make it so important that we’re willing to put up with a difficult relationship just to maintain a client. At some po…

We were talking with an advisor who's in our program recently and the topic of assets under management came up because he felt stuck on a rather modest number. So it got us thinking about this issue and what keeps an advisor from the growth that they want to see. It's not your marketing that's driving whether you have a lot of AUM or annuity sales.…

Wanted to do everything he could on his bucket list during his 60s because he didn't think he'd have the energy and ability to do as much in his 70s based on what he had seen from family and friends. This is why we like to push advisors to build their business in an entrepreneurial way so that the day-to-day still rolls along while you get a chance…

Have you ever had someone show up at your office to get your advice? They might even be willing to pay for advice. But that same person isn't willing to let you manage their money because they feel like it's something they can tackle on their own. If you haven't experienced this yet, you likely will soon because it's becoming more common. With more…

Nearly every investor has some amount of exsposure to the stock market, and that likely means clients have questions when things start to drag. That's to be expected in this current investing environment so what should you be telling people that want to know how to react? On this episode of the Profitable Advisor, Dan will tell you how he approache…

One of the hardest things to is actually one of the easiest. Sounds strange, right? Today we'll talk all about writing a book, which can seem like an overwhelming task for a financial advisor. We hear from people all the time that want to do it but have no idea where to start. This show will change that. We won't get into the mechanics of publishin…

The goal for every advisor should be to manage 100% of your client’s money but that might seem easier said than done. The truth is that having the right approach with prospects makes it a logical decision to place all of their confidence in the work you do. On this episode, Dan will share his process for meeting with clients and setting expectation…

Today we want to spotlight one of the first people to enroll in the Renegade Advisor program. Not because of that early relationship but because he’s incorporated many of the strategies we talk about and his success is taking off. Ryan Fleming, MBA, RICP, CRPC has an incredible story as a former college football player and graduate of the Air Force…

It’s that time of the year when vendors are having their meetings and that means you need to understand what you’re walking into. The vendors want your business and they will do what it takes to keep you on board. Since they’re essentially in the commodity business, they have to come up with reasons to convince you otherwise. One of the ways they d…

With the new year beginning, we hope you are as excited about the future of your business and what you hope to accomplish. With 2022 arriving, we’re always looking for ways to improve ourselves and our bottom lines, and that’s why we choose today’s topic. Financial advisors are often wondering whether or not they should get a coach. Will it really …

We’re going to get a little political today but not in the way you would think. You might expect a show with criticism about judgment, but that’s not what this episode is about. The truth is the new administration in Washington D.C. has given financial advisors a lot of great opportunities to grow their business, and as a result, you should be ramp…

What can a financial advisor learn from their doctor? Well, the way we interact with our clients should resemble the way a doctor treats their patients. We are the professionals and we have to be able to communicate to our clients what is best for them, as a doctor would do for your health. On today's show, we will go over 5 things we can learn fro…

You’ve probably heard many times that authors have credibility. Even if the books aren’t well-written, just becoming published establishes them as an expert on their subject matter. It’s just a fact of life. And there’s never a better way to establish a relationship with a prospect than with your own book. As the guest on today’s show will explain,…

It’s that time of the year when vendors hold their annual meetings, evaluate the upcoming year, and set new sales goals. The mission, as they’ll explain, is to ramp up sales and increase the revenue you’re bringing into the business. But does that actually benefit you? While these meetings might be great for catching up with old friends and learnin…

For the first time in a while, we won’t have a guest on the show but that’s because we want to share an update on what we’ve been doing. Specifically, we want to discuss the new direct marketing strategy we’ve been utilizing. You might have heard us discuss this before but we wanted to bring everyone up to speed because it’s an important part of be…

Life throws us curve balls all the time. It’s part of the journey and we all have to figure out how to overcome the challenge and keep pushing forward. Having that added pressure of being a business owner makes it even tougher, but no matter how down you get, I want you to think about June Scharf. Our guest today might be familiar to some of the pe…

If you’ve listened to our show at all, you already know that podcasting is a very cost-effective strategy for nurturing your clients but today we want to tell you about a Certified Financial Planner that has built his business around a podcast. Our guest today is Benjamin Brandt, who started the Retirement Starts Today Radio six years ago and has g…

If you’re looking for a way to separate yourself from other advisors, tax planning just might be the answer. Most people are focused on tax preparation each year but providing tax planning as part of an overall approach to serving clients, you’ll be able to provide additional value to each person you work with. The holdup for people is not having a…

One of the positives that came out of the COVID pandemic was the increased comfort most people now feel on virtual calls and online video conferences. While we’ll be able to transition away from doing as many of these as advisors, it’s still a valuable tool that we now have at our disposal. The Renegade Advisor program now offers up a webinar servi…

Today we’re excited to bring on a good friend and a successful business owner who’s managed to merge different practices into one operation. Trent Benedetti, CPA, CFP, IAR, owner of Benedetti Financial is our guest on this episode of the Profitable Advisor and he’s a perfect example of how to provide multiple services for clients. He started with n…

If you want a master class on marketing strategy, this might be the closest you’ll get in a single podcast episode. Today we’re talking with Kia Arian, who we’ve worked with for a few years. She’s a strategist and graphic designer to many of the biggest marketing names out there. She’s also helped with Dan’s upcoming book, Advisor VooDoo: Mastering…

It’s time to introduce you to Paul Durso. He’s one of the original members of the Renegade Advisors program and has enjoyed a lot of success after stepping out on his own. To understand Durso’s process, you have to know his background. He left a successful practice in Michigan because the partnership wasn’t working like he hoped and moved to North …

When you think about the reasons you haven’t been as successful as you want to be, how often do you look to someone or something else to blame? It’s our natural inclination but what we’ve learned from mindset expert Nina Cooke is that we need to be examining ourselves. On this episode of the podcast, we have a follow up conversation with Nina Cooke…

Every advisor wants to find ways to increase AUM and the best way to do that is by maximizing the clients you’re already working with. Few businesses do that better than the Duffy Law Office in Davenport, Iowa. Along with estate planning, attorneys Dennis Duffy and Ryan Denman also provide a variety of financial planning services for their clients …

Making the decision to leave a brokerage and start working on your own comes with a lot of risk but provides an opportunity to work for yourself. It’s something many people think about but need the encouragement to take that leap. On this episode, we’ll continue our conversations with other financial advisors as we try to learn more about aspiratio…

A marketing expert that we’ve grown to know and appreciate is Mary Rose Maguire. She’s the mind behind The Maverick Advisor and helps financial advisors and consultants reach better clients and strengthen their business. She also wrote a great book called THE MAVERICK ADVISOR: The New Rules of Marketing for Financial Advisors and Consultants - Get …

As we move into 2021, we’ll look to feature more advisors on the show in order to provide a first-hand account of the business and strategies that are working across the country. Let’s kick off the year with someone we’ve known for many years, Brie Reyes. Her and her father, Tim Estes, run Estes Financial in Fort Worth, Texas, but she also founded …

This show helps advisors find a path to profitability and shares strategies to build your business. But no matter how many ideas and action plans get laid in front of you, it all comes down to whether you have the mindset to chase your dreams and believe in your own success. Most people, not just advisors, lack this ‘Millionaire Mindset’ that our g…

Sometimes the best way to improve your business as a financial advisor is to speak with people outside of that arena. While there are plenty of nuances to your business, you’ll find there are many common themes between successful business regardless of what type of product they’re selling. That’s why we’re turning to Liston Witherill on this episod…