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Welcome again to the 375th episode of the Monetary Advisor Success Podcast!
My visitor on at present’s podcast is Rob Schultz. Rob is the Senior Companion of NWF Advisory, a hybrid agency based mostly in Los Angeles, California, the place he oversees practically $500M in property beneath administration for 200 consumer households.
What’s distinctive about Rob, although, is how he is systematized his assembly course of, from his assembly prep all the way down to a standardized agenda stream that enables him to dig into client-specific particulars whereas additionally sustaining an environment friendly assembly course of… which has allowed him to scale as much as over 20 consumer conferences each week… and nonetheless preserve his sanity and power ranges up in order that that is sustainable to him as he builds his agency.
On this episode, we speak in-depth about how Rob units the agenda for his 20+ conferences per week along with his purchasers utilizing a structured stream that at all times touches on the identical key areas for each consumer, the way in which he leverages his paraplanner to prep a stack of consumer conferences in order that he can knock by means of per week’s value of assembly preparation in only a few hours each Monday morning, and the way in which Rob leverages the built-in audio transcription options in Microsoft Phrase itself to rapidly wrap up his post-meeting notes on the finish of every day.
We additionally speak about Rob’s journey from getting an undergrad in Kinesiology and beginning med college to transferring into accounting after which finally changing into a monetary planner by means of this system at UCLA (as a result of monetary planning was the proper mix of serving to folks the way in which he needed to in drugs, and dealing with numbers the way in which he did in accounting), the way in which Rob has been capable of develop by executing a sequence of “succession plans” the place he buys out and takes over the practices of retiring advisors, and the way in which Rob has been capable of scale up his effectivity additional by getting extra systematized along with his investments, particularly the rise lately of outsourced TAMP suppliers and the supply of ETF mannequin portfolios.
And make sure to hearken to the tip, the place Rob shares the influence it had when a mentor identified how he might be the neatest advisor on the market, but when he could not make sufficient cash to final, he wasn’t going to have the ability to assist anybody, how a lot Rob has realized that gentle abilities are required to get his purchasers right into a mindset the place they’re on a superb path and might use any extra cash they need to make their very own lives higher, and the way attending to the purpose the place Rob was really capable of say “No” to potential purchasers who he knew deep down actually weren’t a superb match – however Rob lastly felt he had the liberty to behave on that actuality – turned the breakthrough that added significantly to his personal psychological well being as a monetary advisor .
So, whether or not you are involved in studying about methods to develop your agency by means of succession plans, how a lot gentle abilities and consumer mindset are simply as necessary because the data you could have as an advisor, or methods to successfully handle an awesome quantity of consumer conferences with ease, then we hope you take pleasure in this episode of the Monetary Advisor Success podcast, with Rob Schultz.
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