Andrew Crowell, Vice Chairman of Wealth Management at D.A. Davidson returns to the show to explore a new perspective on estate planning: pre-making decisions for heirs and loved ones. Andrew and show host Mike Langford emphasize the importance of having conversations early and often to prevent emotional duress and ensure that family members are aware of the individual's wishes. They also discuss the significance of planning for digital assets, including passwords and online accounts. The conversation highlights the need for clear instructions on how to handle sentimental or private items after someone's passing.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

• Why Financial Advisors Should Teach Financial Literacy - Andrew's first appearance on the Modern Financial Advisor podcast.
• Protecting Your Clients And Your Firm From Financial Fraud - Andrew's second episode of the Modern Financial Advisor podcast.
• "Life's Key Moments" - This is the D.A. Davidson resource Andrew mentioned toward the end of the episode.

Chapters

00:00 Introduction: Improving Sound Quality with PodBox

01:26 A New Perspective on Estate Planning

03:53 Pre-Making Decisions for Heirs

07:06 Avoiding Emotional Duress

09:44 Disposition of Sentimental Items

16:30 Planning for Digital Assets

23:27 Privacy Concerns and Personal Journals

28:12 Having a Partner to Dispose of Sensitive Items

29:09 The Importance of Conversations in Estate Planning

31:37 Challenges Faced by Individuals without Biological Heirs

34:27 The Concept of an Ethical Will

37:19 The Impact of Remarriage on Estate Planning

46:51 Senior Investor Protections and the Complexity of Digital Assets

53:13 The Role of Professional Advice in Estate Planning

Chuck Failla, Founder and CEO of Sovereign Financial Group returns to the Modern Financial Advisor Podcast to share some updates on the goRIA initiative he launched in partnership with InvestmentNews. Chuck also shares his journey of going RIA and the motivation behind creating goRIA as a media outlet to educate advisors about the benefits of the RIA space.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

• Chuck Failla on LinkedIn - https://www.linkedin.com/in/charlesfailla/
• Sovereign Financial Group - https://www.sovereignadvisorsolutions.com/
• goRIA with InvestmentNews - https://inpartners.investmentnews.com/goria/p/1
• Modern Financial Advisor Podcast EP75 - When Chuck was just getting RIA Labs off the ground - https://pod.co/modern-financial-advisor/episode-75-how-to-host-a-successful-online-event-as-a-financial-advisor
• Modern Financial Advisor Podcast EP108 - With Gauthier Vincent of Deloitte where we discuss end-to-end digital transformation of wealth management - https://www.finservmarketing.com/modern-financial-advisor-podcast/exploring-the-end-to-end-digital-transformation-of-wealth-management
• Jeff Benjamin on LinkedIn - https://www.linkedin.com/in/jeff-benjamin-9427728/
• AngelSpan - https://angelspan.com/
• Beautiful AI - https://www.beautiful.ai/presentations
• Saifr - https://saifr.ai/

Chapters

00:00 Introduction and The Importance of a High-Quality Microphone Setup

03:27 Educating Advisors about the Benefits of the RIA Space

15:26 Networking and Learning at Conferences

19:07 Integration and Future-Proofing Technology in the RIA Industry

29:22 Choosing the Right RIA Firm

30:18 The Need for Better Training

32:44 Succession Planning and Ownership Transition

38:21 Expanding Services: Advising on Alternative Investments

52:32 The Role of AI in the RIA Industry

Dr. Jay Zigmont, Founder and CEO of Childfree Wealth joins Mike Langford for a fascination conversation about the intricacies of providing comprehensive financial advice to childfree clients. They discuss the significant population of adults who do not have children and the unique needs that are not being met by traditional financial planning methods. They also explore the reasons why people choose to be childfree and the challenges faced by financial advisors in serving this niche. The conversation covers topics such as dying with zero, long-term care planning, estate planning, retirement, and the importance of understanding the goals and desires of childfree clients.

Sponsored By:

PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.

Resources Mentioned In This Episode:

• Jay Zigmont's Book - "The Childfree Guide to LIfe and Money"
• The Fixed-Index Annuity with a Health-Activated Income Multiplier - This the annuity Jay mentioned during the show.
• Long Term Care for Childfree Individuals - An article Jay wrote on the topic.
• Fidelity Investments (FCAT) study on soloists - "A Family of One: The Ascendance of Solo Households"
• Jay's guest article on Michael Kitces' blog - "Why Childfree People Require A Unique Financial Planning Process"
• Rajini Kodialam - Mike mentioned how Rajini urged financial advisors to stop calling women a segment. "Any group that makes up over half of the population cannot be a segment."

Chapters

00:00 Introduction to Child-Free Financial Advice

03:45 The Size and Significance of the Child-Free Population

08:07 Understanding the Choice to Be Child-Free

13:25 Dying with Zero: A Different Approach to Financial Planning

15:23 The Life of Child Wealth: Redefining Retirement

27:43 Addressing the Unique Needs of Child-Free Individuals

36:44 Creating Communities and Support Networks

46:25 Challenges and Biases Faced by Child-Free Individuals

53:48 Opportunities for Financial Advisors in the Child-Free Market

Gauthier Vincent (GV), Senior Consulting Partner at Deloitte joins Mike Langford for an exploration of the digital transformation taking place in the wealth management industry. The conversation explores the impact of AI on wealth management, covering topics such as personalizing client experiences, efficiency, data infrastructure, compliance, and the modernization of core wealth platforms. It also delves into the challenges and considerations for wealth management firms in adopting AI and modernizing their tech stack.

Sponsored By:

PodBox - Help your guest sound as good at GV with a PodBox microphone setup.

Resources Mentioned In This Episode:

• Deloitte Report - "The Digital Wealth Manager Of Today"
• SkyView 1 - A fiduciary first banking solution for your financial advisory clients.
• Nitrogen (formerly Riskalyze) - The comprehensive client engagement platform for wealth management firms

Chapters

00:00 The Digital Transformation in Wealth Management

11:49 The Urgency for Modernization and Impact of AI

27:17 The Impact of AI on Wealth Management

41:24 Challenges and Considerations in Adopting AI for Wealth Management Firms

49:52 Modernizing the Tech Stack in Wealth Management

Brian Margolis from Productivity Giant joins Mike Langford to discuss the importance of a simple weekly strategy for financial advisors to improve their productivity and achieve their goals. Brian emphasizes the need to focus on the right things and prioritize activities that provide the biggest return on investment.

Resources Mentioned In This Episode:

• Brian's previous episode of the Modern Financial Advisor Podcast way back in 2019.
• Brian's Book - "The Index Card Business Plan For Sales Pros and Entrepreneurs"

Chapters

00:00 Introduction and Background

04:24 The Importance of a Simple Weekly Strategy

09:07 Focusing on the Right Things for Maximum ROI

28:57 Common Pain Points and Symptoms

31:20 Differentiating Between Being Good and Being Successful

39:05 Success Stories and Implementing the Simple Weekly Strategy

45:10 Conclusion

Simon Zais, a senior manager at Egan-Jones Proxy Services, joins Mike Langford on the Modern Financial Advisor Podcast to discuss the importance of "proxy voting as a service" for financial advisors. They explore how proxy voting can help advisors deliver a higher level of service to their clients and align their portfolios with their clients' values and goals.

Resources Mentioned In This Episode:

• MFA Episode featuring Pete Krull of Earthy Equity Advisors
• Engine No. 1 vs Exxon - Simon mentioned this case as an example of proxy voting driving change at a company.
• Simon's article titled "Hearts, Minds, and Votes: Where Smarter Wealth Managers Win"

Chapters

00:00 Introduction: Proxy Voting as a Service

06:03 Aligning Portfolios with Values and Goals

10:22 Proxy Voting and Making an Impact

23:04 The Growing Influence of Retail Votes

23:34 The Growing Influence of Retail Investors in Proxy Voting

26:01 Aligning Proxy Voting with Client Values and Goals

28:18 The Importance of Meaningful Conversations with Clients

31:38 Taking Action on Proxy Voting to Deepen Client Relationships

In this episode of the Modern Financial Advisor podcast, Mike Langford interviews Pete Krull, CEO of Earth Equity Advisors, about sustainable investing. They discuss the importance of sustainable investing for financial advisors and their clients, debunk common myths about sustainable investing, and explore the growth opportunities in the field.

Pete and Mike also touch on the role of ESG metrics, the future of the insurance industry in the face of climate change, and the increasing demand for sustainable investing among different generations.

Resources Mentioned In This Episode:

• Earth Equity Advisors
• Pete Krull on LinkedIn
• Cross Country Race in EV Pickup Trucks - Out of Spec YouTube and Out of Spec Podcast
• Green Sage Sustainability Portfolio
• Morgan Stanley Sustainable Signals Report
• Dollars and Change Podcast and YouTube Channel
• Book - Cradle to Cradle
• DEI Episode of The Modern Financial Advisor Podcast with Laura Gregg

Chapters

00:00 The Role of Sustainable Investing for Financial Advisors

03:47 Debunking Myths About Sustainable Investing

12:23 The Future of the Insurance Industry in the Face of Climate Change

25:01 The Increasing Demand for Sustainable Investing Among Different Generations

29:16 Engaging with Clients and Prospects on Sustainable Investing

30:10 Meeting the Needs of Next Gen Investors

32:07 The Growth of Electric Vehicles and Charging Infrastructure

35:19 The Role of Real Estate in Sustainable Investing

43:30 Considering Climate Readiness in Retirement Planning

51:18 Connecting with Influencers in Sustainable Investing

Reese Harper, CEO of Elements, joins Mike Langford to discuss how financial advisors can use vital signs to improve client conversations and increase their comfort level around financial advice.

Reese explains that vital signs are objective scores that measure various aspects of a client's financial health, such as liquidity, debt-to-income ratio, and savings rate. By using vital signs, advisors can provide personalized advice and help clients make informed decisions about their finances.

Resources Mentioned In This Episode:

• Elementality Podcast - With Reese Harper and Carl Richards
• Dentist Advisors - This is Reese's RIA which influenced his founding of Elements

Chapters

00:00 Introduction and Overview

02:56 The Concept of Vital Signs

10:05 Improving Financial Behaviors with Vital Signs

28:31 Using Vital Signs in a Niche Market

35:23 The Birth of Elements and the Importance of Vital Signs

41:06 Accelerating Client Onboarding with Elements