Financial Advisors Want to Know: How to Plan For a Purpose Driven Retirement - Ep 16: Tony Hixson

Welcome to the Financial Advisors Want to Know podcast. I'm Catherine Tindall, one of the partners here at Dominion Enterprise Services, a specialty tax and accounting firm that works specifically for advisors. On today's episode, we have Tony Hickson, the CEO of Hixon Zuercher Capital Management. And co-founder of the Refocus Coaching Academy. Tony is a passionate advocate for purpose-driven retirement planning fueled by personal tragedy and a commitment to honor his mom's legacy. So Tony, thank you for joining me on today's episode.

I am passionate about the non-financial aspects of retirement which is kind of weird coming from a co-founder of a wealth management firm typically people like me really like to do roth conversions and crunch excel spreadsheets but my passion has really been ignited by a personal tragedy that happened in my life a number of years ago and and why I think that focusing on the non-financial aspects of retirement are just so important.

Connect with Tony:
https://hzcapital.com/tony-hixon/
https://refocuscoaching.academy/

Connect with Catherine:
https://www.linkedin.com/in/ctindallcpa/

Contact Catherine's Team:
admin@dominiones.com


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Financial Advisors Want to Know: How to Set Up a 401K Plan - Episode #15: John Jones

Welcome everybody to the Financial Advisors Want to Know podcast. I'm Catherine Tindall, a CPA with Dominion. We're a firm that specializes in tax advisory and compliance for financial advisors and wealth managers, RIAs. Today's guest is John Jones. He's the president of Scissortail Executive Advisors, which is a firm dedicated to helping corporations optimize their 401k plans.

John also has experience working with financial advisors for their business owner clients who are jumping through the same hurdles trying to figure out how to implement and correctly deploy 401k plans into their businesses. So thank you for joining me today, John. This is always a fun topic.

Connect with John:
https://www.linkedin.com/in/john-jones-085077173/

Connect with Catherine:
https://www.linkedin.com/in/ctindallcpa/

Contact Catherine's Team:
admin@dominiones.com


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Financial Advisors Want to Know How to Implement Artificial Intelligence - Episode 14: Ben Olson

Welcome to another episode of Financial Advisors Want to Know. Today, I've got with me Ben Olson, who is an expert in AI implementations for financial advisor firms. This is going to be a great episode, something I'm super interested in as I run, you know, where we run a CPA firm that does tax work for advisors. And so a lot of the insights he's going to be providing are all things that I'm very interested in as well. So thanks for joining me today on the show, Ben.

Overview:
- General overview of recent advancements & current state of AI
- How advisors can use AI (use cases)
- Which technologies in the advisor tech stack have APIs and can be used with workflow automations

Contact Ben:
https://www.linkedin.com/in/benolsen3/

Contact Catherine's team:
admin@dominiones.com


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Financial Advisors Want to Know How to Enhance Their Website - Episode #13 Lauren Hong

Hello, everyone. Welcome to the Financial Advisors Want to Know podcast. I'm Catherine Tindall, CPA here with Dominion. We're a firm specializing in tax work for financial advisor firms. Today I have with me Lauren Hong. She started Out and About Communications back in 2013, and it's an agency dedicated to the financial services industry. Today we're going to be talking about websites, and Lauren has some pretty good insights there. So welcome to the show, Lauren. Yeah, Catherine. Thank you for having me.

So this is actually a conversation I had with a client a week ago. He was talking about how annoyed he was with his website and he was using kind of like a templated service for it. So I would love to hear your kind of general thoughts for people that are struggling with this and what they should be thinking about and paying attention to when it comes to their website.

About Lauren:
Raised in Kansas City, MO, by a journalist father and an artist mother, Danielle developed a love for creativity and marketing early on. She graduated from Drake University with a degree in graphic design and advertising and was a Fulbright Scholar in South Korea. After working in Washington, D.C., and Boston, she moved to San Diego.

In 2013, Danielle founded Out & About Communications, an agency dedicated to the financial services industry. The agency has grown to over 30 team members, specializing in wealth management, payroll, lending, banking, and outsourced financial consulting.

Outside of work, she enjoys exploring San Diego and trying new restaurants with her husband and two daughters, and she loves gardening.

https://www.linkedin.com/in/honglauren/

admin@dominiones.com

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On this episode of Financial Advisors Want to Know, we’re talking about the overall process of relationship marketing with the expert - Bill Cates, The Original Referral Coach

Under the banner of Relationship Marketing:

1. Referrals -- Multiply your best clients through introductions from clients and centers of influence.

2. Relevance -- Communicate your value to cut through the noise and win more ideal clients.

3. Reputation -- More from prospecting to attracting by becoming the go-to advisor in a target market.

Just pure gold in this episode - my favorites were:
Adding a value check in to all meetings, letting this be the gateway for asking for referrals and making sure you’re referrable!

365M to 1BN AUM just by that attitude change

Think about the language your using to make it client centric, not advisor centric

How are you differentiating yourself with clients? How deep do you go to understand them?

www.ReferralCoach.com/resources
www.RadicalRelevanceBook.com
www.LanguageofReferrals.com

Visit us at DominionEs.com

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In this episode of Financial Advisors Want to Know, Liz Hand, CFP®, ACC Hand gives us a first-hand (Sorry, Liz, I couldn’t resist) take on family successions for firms.

Some key takeaways:
1- Anticipate the messy, but have a regular cadence of communication that can be open

2- Be okay with needing to get a little emotional space when going through a business transition that involves other family members and their perspectives

3- Transitions can flare up old hurts, weird emotions, and power struggle changes (There’s a whole HBO series on how much drama can come in)
4- Getting good coaching, structure, and support makes all the difference

What kinds of messes have you seen with family transitions?

Contact Elizabeth here:
https://www.linkedin.com/in/elizabethkhand/
https://www.lizhandcoaching.com/
https://www.kitces.com/blog/elizabeth-hand-pleasant-wealth-commissions-fee-based-planning-g2-advisor/

Visit us at DominionEs.com

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This episode with Matthew Miner, CFP®, MBA of Miner Wealth Management is about his journey doing a partial buyout of a practice he was working with and what he sees in the rearview mirror for advisors looking to do the same to launch their practice.

Top Takeaways:
1- Having trust is everything with a seller, but making sure to get legal documentation just for clear understanding, expectations, and a record of what was agreed on (especially when you’re 6 months out from an agreement) is essential

2- Having a communication strategy for new clients - keep it simple.

The clients who will have a lot of questions will make themselves known, they always do! Matt recommends not overwhelming clients with information during the change unnecessarily

3- Prepare for the admin overflow…it’s a lot more work than you think it’ll be. Or at least plan on it to be!

Matthew Miner, CFP®, MBA
https://www.linkedin.com/in/mattminer/
minerwealth.com
workpantsfinance.com

Looking for a more holistic relationship with your taxes? Book 15 minutes to have a coffee chat with Catherine to see if you could be doing more: https://calendly.com/ctindall/podcast-getting-to-know-you

Sign-up for our newsletter for the only tax update you’ll need to read and future episodes here and how to get in touch with Catherine: https://dominion-enterprise-services.ck.page/9944b047d9

Visit us at DominionEs.com

Looking for a more holistic relationship with your taxes? Book 15 minutes to have a coffee chat with Catherine to see if you could be doing more: https://calendly.com/ctindall/podcast-getting-to-know-you

Sign-up for our newsletter for the only tax update you’ll need to read and future episodes here and how to get in touch with Catherine: https://dominion-enterprise-services.ck.page/9944b047d9

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In this episode, we're going to be talking about equity sharing and compensation issues for running practices. I have with me today Carolyn Armitage. She started her career as an advisor She possesses firsthand knowledge and deep empathy for the challenges advisors face with the CFP and CIMA designations. She's held roles as a consultant to CEOs of wealth management firms, the head of wealth management for several firms and an investment banker. Collectively, her years in the industry have positioned her to learn and share valuable insights with advisors in the field. And she has her own consultancy firm where she's actively working with advisors for a lot of these initiatives. niche issues that they can encounter running their practices.

Key takeaways:
-Don’t wait until turnover to figure out the compensation issue for your talent
-The amount of compensation is the easy part; it’s more of a cultural issue of what their goals are and your goals are in the business that you need to solve for.
-You can’t just throw equity at larger mission vision problems
-What do you employees really want? Do they actually want the risks and benefits of ownership?
-Or is it really that they want a profit share?
-But for those who truly do want equity, but you’re not ready to give it up there’s been a suggestion around Phantom plans in the industry.
-Phantom plans are just that and can be offensive to talent that really is ready for the equity upgrade
-Advisors know it’s really just a cash bonus plan that can easily backfire
-With some really negative tax implications (because it’s not real equity, they pay ordinary income tax rates on “sales”)
-Consider having tiered plans between admin staff and executive staff that are aligned around the individual’s capabilities and goals
-The biggest takeaway, the question of what you should be doing for compensation goes to the core of how your employees are relating to your organization and the level of buy-in you have to their success and what they’ll have to yours.

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Carolyn Armitage
https://carolynarmitageconsulting.com

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