• Developing the Next Generation of Business Leaders with Laurie Nichols
    Jul 12 2022
    As the next generation of leaders takes the reins of businesses and organizations, they have to be prepared for the challenges ahead. Though they tend to have different values and priorities than their predecessors, what can they do to become successful leaders in their organizations? In this episode, Craig talks with Laurie Nichols, Succession Planning and NextGen Development Coach at Laurie Nichols Coaching and Consulting. With more than 30 years of experience in financial services and as a Certified Professional Coach, Laurie helps owners create and communicate their vision to nextgen professionals and motivate their successors to feel confident in their role and the future of the business. Laurie talks with Craig about what motivates her to practice coaching, how founders can prepare for business and leadership transitions, and what the key components are for developing nextgen advisors. Key Takeaways [03:11] - What motivates Laurie to practice coaching. [08:09] - What makes people want to reach out to Laurie. [10:39] - Laurie's perspective on nextgen successors taking over the firm. [14:24] - How founders can prepare for business and leadership transitions. [19:08] - The dynamics of adapting old-school business strategies to new technologies. [22:07] - Key components for developing nextgen advisors. [26:34] - How Laurie helps owners and nextgen leaders align their visions. Quotes [13:21] - "Communication, engagement, and professional development are what it takes to have a win for the owners, a win for the nextgen successor in the team, and a win for clients." - Laurie Nichols [23:04] - "No matter what your title is today, you start being the leader. It doesn't mean that you’re the boss, you get final decisions on anything in particular, but it's how you show up." - Laurie Nichols [23:34] - "Developing your skills in communicating with intention around your needs helps to break the pattern of ‘conflict avoidance’ because candor is not conflict." - Laurie Nichols Links  Laurie Nichols on LinkedIn Laurie Nichols Bank of America Connect with our hosts Craig Stuvland tru Independence Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts TheIndieAdvisor.com Interested in going independent? Are you interested in going independent, or increasing your independence? Is the process of trying to do it all by yourself overwhelming? tru Independence has the solution. Between our flexible tech stack, growth-oriented services, and a dedicated compliance team that stands in your corner - partnering with tru gives you what you need to efficiently achieve your dream of independence. Stop worrying about what's holding you back. Talk with tru today. Visit tru-ind.com. 
    Show more Show less
    34 mins
  • Best Practices for Optimizing Business Performance with Craig Butler
    Jun 14 2022
    Today's rapidly changing business landscape necessitates speed and agility — a lone wolf can no longer survive. The most successful businesses are the ones that have the right team in place. Of course, not every business has the luxury of hiring employees with all of the required skills.  In this episode, Craig talks with Craig Butler, Chief Growth Officer and Managing Partner at tru Independence. With nearly three decades of working directly with advisors, Craig has developed extensive knowledge and expertise around how to optimize business performance and enterprise value. Craig is currently engaged in multiple professional roles at tru, including business strategy, innovation, and business development. He is the architect of the tru Advantage practice management program designed to help advisors transform their financial practices into high-performing businesses. A Certified Birkman Consultant and a Certified Journey Business Coach, Craig talks about his best practices for coaching business teams, the importance of delegation to business growth, and the mindset advisors must have before going independent.   Key Takeaways [01:41] - Craig's rich history in wealth management. [02:54] - Why Craig is passionate about working with independent RIAs. [04:14] - Craig’s best practices for coaching business teams. [06:56] - How advisors can build the best client experience. [09:58] - How the pandemic has affected client experiences in advisory firms. [11:50] - The importance of delegation in business growth. [18:11] - What drives wirehouse financial advisors to become independent. [21:44] - How Craig provides value to independent advisors. [24:47] - The mindset advisors should have before going independent. [30:27] - Craig's favorite authors and mentors. Quotes [05:46] - "I think understanding the unique personality of everybody on a team is important to understand the organizational strengths. What they bring to the table needs to be leveraged appropriately and understanding what motivates and drives them." - Craig Butler [06:38] - "I'm a big believer that you can't have a great business unless you have a great team. I've never seen a great business that doesn't have a great team to support it." - Craig Butler [15:04] - "People think they're going to save money by trying to do all the other kinds of things on their own without hiring the right staff. But ultimately, the opportunity costs are very high in a scenario like that." - Craig Butler Links  Craig Butler on LinkedIn Craig Butler Email  Craig Butler mobile number: 770 656 7212 The Birkman Method Richard Branson The Virgin Group | Virgin The Heart of Mentoring Connect with our hosts Craig Stuvland tru Independence Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts TheIndieAdvisor.com Interested in going independent? Are you interested in going independent, or increasing your independence? Is the process of trying to do it all by yourself overwhelming? tru Independence has the solution. Between our flexible tech stack, growth-oriented services, and a dedicated compliance team that stands in your corner - partnering with tru gives you what you need to efficiently achieve your dream of independence. Stop worrying about what’s holding you back. Talk with tru today. Visit tru-ind.com.
    Show more Show less
    34 mins
  • The Legal Guide to Starting an Independent Advisory Business with John Davis
    May 10 2022
    Creating an independent advisory business can be a great way to break into the industry and provide clients with personalized services. It is, however, a complex process that requires a number of legal decisions, especially when starting from scratch. In today’s episode, Craig talks with John Davis, Attorney and Partner at Lynch Conger McLane. In his role, John helps people start businesses, run them effectively, and pass them on to the next generation. As a result of his achievements in legal practice and recognition from peers, he was named a Super Lawyers Rising Star from 2014-2018. John talks with Craig about the three important things to keep in mind when going independent, what advisors need to know when deciding on the firm structure, as well as specifics on how to protect the business. Key Takeaways [01:41] - Three things to keep in mind when going independent. [06:26] - Who owns the enterprise value [08:04] - What advisors need to know when deciding on the firm structure. [13:56] - What individuals and teams need to consider when naming their organizations. [19:22] - The general rules of thumb for growing a business. [23:14] - The other nitty-gritty parts of going independent. [29:19] - How much time does it take to prepare and launch an advisory business? [31:56] - A range of expected costs for setting up a new company. [34:59] - John's advice for anyone interested in going independent. Quotes [13:07] - "It's really almost impossible for the CPA and the lawyer to tell what's the right entity decision until the advisor knows the answer to the first three questions—how are we going to pay ourselves, who controls what, and who owns the value of the business?" - John Davis [18:27] - "It's worth picking a name that doesn't have a conflict. And then from the get-go, seeking federal trademark registration." - John Davis [21:55] - "CPAs often are your best friend. As a team, have a great relationship with a CPA and regularly review your tax situation. Sometimes you can just see your CPA as a tax preparer but you can ask them to be a business advisor." - John Davis Links  John Davis on LinkedIn Lynch Murphy McLane Connect with our hosts Craig Stuvland tru Independence Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts TheIndieAdvisor.com Interested in going independent? Are you interested in going independent, or increasing your independence? Is the process of trying to do it all by yourself overwhelming? tru Independence has the solution. Between our flexible tech stack, growth-oriented services, and a dedicated compliance team that stands in your corner - partnering with tru gives you what you need to efficiently achieve your dream of independence. Stop worrying about what’s holding you back. Talk with tru today. Visit tru-ind.com. 
    Show more Show less
    40 mins
  • Helping Advisors Plan Their Wealth Management Strategies with Gavin Spitzner
    May 3 2022
    Financial advisors have a fiduciary responsibility to their clients to manage their money in the best way possible. This means looking into all aspects of wealth management, from choosing the right investment vehicles to asset allocation and diversification. With the wealth management industry constantly evolving, how can advisors stay on top of emerging trends and developments? In today’s episode, Craig talks with Gavin Spitzner, Founder and President of Wealth Consulting Partners. Following a successful 25-year career in the financial services advisory and wealthtech space, Gavin launched Wealth Consulting Partners in 2015 with a mission to help forward-looking wealth management organizations and the providers that serve them transform, evolve, and achieve their unique business goals. Gavin talks with Craig about how wealth management has evolved over the years, and what advisors need to pay attention to when it comes to investments, technology, outsourcing, and alternative investments. Key Takeaways [02:01] - What led Gavin to form Wealth Consulting Partners. [06:42] - How wealth management has evolved over the years. [09:53] - Gavin's advice for financial advisors and planners. [12:58] - A few top technology providers that every advisory firm should look into. [16:48] - What advisors need to pay attention to when it comes to investments. [21:22] - Gavin's thoughts on crypto investing. [25:59] - Why outsourcing is a great way to grow a business. [28:10] - What the future holds for M&A. [32:21] - How RIAs can best represent buyers or sellers. Quotes [21:44] - "85% of millennial millionaires have 50% or more of their worth in crypto, which is an amazing stat. But whether you believe in it or not as an asset class, you can't hide your head in the sand. For some, whether you believe in Bitcoin or other cryptocurrencies themselves, blockchain itself is probably the clearest winner, no matter what ends up happening." - Gavin Spitzner [26:22] - "There's so much to do to run the business, grow the business, and manage the business. You have to be selective. You have to decide. And the good news is there's more options than ever before to outsource things and be able to keep the things that matter to you." - Gavin Spitzner [36:00] - "We need more people in this business with high EQ, with humanities backgrounds, other backgrounds, not necessarily just everybody coming out of college with a finance degree. We need to diversify.” - Gavin Spitzner Links  Gavin Spitzner on LinkedIn Gavin Spitzner Email Wealth Consulting Partners PGIM Envestnet Lumiant Bento Engine Connect with our hosts Craig Stuvland tru Independence Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts TheIndieAdvisor.com Interested in going independent? Are you interested in going independent, or increasing your independence? Is the process of trying to do it all by yourself overwhelming? tru Independence has the solution. Between our flexible tech stack, growth-oriented services, and a dedicated compliance team that stands in your corner - partnering with tru gives you what you need to efficiently achieve your dream of independence. Stop worrying about what’s holding you back. Talk with tru today. Visit tru-ind.com. 
    Show more Show less
    40 mins
  • Financial PR: Establishing Credibility in the Financial Services Industry with Jason Lahita and Jimmy Moock
    Apr 26 2022
    Public relations professionals have long understood the importance of building relationships with key members of the media. But in the social media age, where news breaks online and stakeholders can communicate directly with brands, it’s more important than ever to have a comprehensive social media strategy in place. When done correctly, social media can be a powerful public relations tool that helps build relationships with key journalists, connect with potential customers and clients, and establish a strong online presence. In today’s episode, Craig talks with Jason Lahita, Founding Partner of StreetCred PR and Jimmy Moock, Managing Partner of StreetCred PR. Together, they have more than 40 years of financial PR experience. At StreetCred PR, the culture is one of collaboration, education, and continuous improvement on the part of every PR practitioner, all in an effort to deliver their clients outstanding results. Jason and Jimmy talk with Craig about the role public relations plays in the marketing ecosystem, what it means to “play to win” at StreetCred, and what social media can do for public relations. Key Takeaways [02:51] - The vision behind StreetCred. [04:57] - What attracted Jimmy to the financial services industry. [07:08] - How Jason and Jimmy value their relationships with the media. [10:49] - What it means to “play to win” at StreetCred. [14:15] - When is the right time to hire a PR firm? [16:40] - How to play the PR game. [22:58] - How media and public relations have evolved over time. [24:02] - What social media can do for public relations. [25:23] - The advice that Jason and Jimmy give to advisory firms. [29:47] - Books, podcasts, and mentors that have profoundly influenced Jimmy’s and Jason's careers and personal lives. Quotes [17:21] - "Every firm leader or every C-suite executive has gotten to where she or he is because of hard work and they've got brains. But when you're entering into something new, like being interviewed, whether it's on camera, whether it's via audio or just a phone interview, you need to be able to make sure that you are approaching it thoughtfully and you are as prepared as possible. And sometimes that is going to take a high degree or at least some coaching." - Jimmy Moock  [25:48] - "Don't turn your nose up to social media, Twitter, Instagram, Facebook, and all the other platforms where you can really amplify your message and where future generations of your own clients will expect you to be present. You don't have to be the best Instagrammer or Tweeter or LinkedIn user or Facebooker in the world, but you do have to have a legitimate presence there." - Jason Lahita Links  Jason Lahita on LinkedIn Jimmy Moock on Linkedin Jason Lahita Email Jimmy Moock Email StreetCred PR StreetCred PR on Twitter Gregory FCA General Electric Sony Corporation Panasonic Global AT&T Joe Duran FiComm Partners Amit Dogra Our Thing with Sammy The Bull Sea Stories: My Life in Special Operations Connect with our hosts Craig Stuvland tru Independence Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts TheIndieAdvisor.com Interested in going independent? Are you interested in going independent, or increasing your independence? Is the process of trying to do it all by yourself overwhelming? tru Independence has the solution. Between our flexible tech stack, growth-oriented services, and a dedicated compliance team that stands in your corner - partnering with tru gives you what you need to efficiently achieve your dream of independence. Stop worrying about what’s holding you back. Talk with tru today. Visit tru-ind.com. 
    Show more Show less
    36 mins
  • The Roadmap to Compliance with Stacy Sizemore
    Apr 12 2022
    Compliance is more than just following rules; it's about managing risks. Compliance protects businesses and customers alike. The ability to adhere to regulations can mean the difference between staying in business and going out of business. As compliance is an ever-evolving and complex field, how can institutions and independent financial advisors adapt their strategies to keep up with changing regulations? In today’s episode, Craig talks with Stacy Sizemore, Chief Compliance Officer at tru Independence. Stacy has more than 20 years of experience in the financial industry, 12 of which have been in the field of compliance. Her strong background in compliance, regulatory audits, and passion for organization are tremendous assets to tru Independence. Stacy talks with Craig about the roadmap to achieving compliance, what advisors need to know about SEC audits, and the list of new rules that the SEC will be implementing in the coming months. Key Takeaways [03:57] - How Stacy helps advisors navigate compliance when going independent. [05:58] - The roadmap for achieving compliance. [10:01] - How FINRA differs from the SEC. [12:06] - Some differences between an independent fiduciary environment and a regulated one. [13:09] - ADVs and how they must be updated. [18:11] - The role technology plays in compliance. [19:32] - What advisors need to know about SEC audits. [23:44] - What cyber security has to do with compliance. [24:51] - New rules the SEC will be implementing in the coming months. [30:52] - One of the biggest lessons Stacy has learned from her mentors. Quotes [05:36] - "When you (advisors) are leaving one of those big wirehouses, you have this big fear of 'What don't I know, what do I know, what do I need, and how do I protect myself?' because you're walking out of one comfy little place." - Stacy Sizemore [12:19] - "When you're at a wirehouse, they're having to make their policies based on a large amount of individuals. When you're with an RIA, your own RIA, you make the rules. You're in an independent space, you have to make the decisions." - Stacy Sizemore [20:16] - "Fearing the SEC, fearing an audit—it's not as bad and daunting as somebody would think. Again, what the SEC is doing is trying to protect the clients, the public." - Stacy Sizemore Links  Stacy Sizemore on LinkedIn D.A. Davidson M Financial Group Keybridge Research Paul Dalton Smith Barney (now Morgan Stanley) Connect with our hosts Craig Stuvland tru Independence Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts TheIndieAdvisor.com Interested in going independent? Are you interested in going independent or increasing your independence? Is the process of trying to do it all by yourself overwhelming? tru Independence has the solution. Between our flexible tech stack, growth-oriented services, and a dedicated compliance team that stands in your corner - partnering with tru gives you what you need to efficiently achieve your dream of independence. Stop worrying about what’s holding you back. Talk with tru today. Visit tru-ind.com. 
    Show more Show less
    36 mins
  • Partnership As A Powerful Tool For Growth with Amit Dogra
    Mar 29 2022
    As an entrepreneur, it’s essential to build a strong team of partners. Partnership can create a powerhouse of individuals working together in synergy toward a common goal - developing their businesses and themselves as leaders.  In today’s episode, Craig talks with Amit Dogra, President & COO of tru Independence, a services-based platform that provides unconflicted, uncompromised advice for new and existing RIAs. Amit is an executive with more than 20 years of experience in helping investment advisors, FinTech firms, family offices, and wirehouse firms grow through business leadership, practice management, service delivery, investment management, business development, and relationship management. At tru Independence, Amit is responsible for overseeing the day-to-day operations, growing the business, and driving execution across all areas of the company. Amit talks with Craig about some of the key areas entrepreneurs need to focus on to grow their businesses, what advice he can give to wirehouse advisors considering going independent, and why partnership can be a powerful tool for business growth. Key Takeaways [01:38] - What attracted Amit to a career in wealth management. [04:54] - Some of the key areas entrepreneurs need to focus on to grow their businesses. [09:47] - Amit's advice to wirehouse advisors thinking of going independent. [13:00] - Why partnership is a powerful tool for growth. [17:48] - Among so many choices, why Amit chose tru Independence. [21:43] - Amit's greatest inspirations in the world of wealth management. [26:10] - The concept behind his favorite tagline - “Energy plus velocity equals execution”. Quotes [06:55] - “You’re an entrepenuer, you’re a business owner. And you set the tone and tenor for the leadership of the culture of their business." - Amit Dogra  [11:40] - "Transitioning is intense. Transitioning is not fun. Transitioning is never easy. But the good news is, it's all overcomeable and it's not infinite. It's finite." - Amit Dogra  [13:46] - "Everybody has a coach. Everybody has a partner and partnership isn’t a sign of weakness." - Amit Dogra [15:59] - "Partnership isn't a weakness. Partnership is progressive. Partnership is an enhancement and partnership gets you back to what you wanted to do, speaking with clients, growing your business, being a leader and an entrepreneur." - Amit Dogra Links  Amit Dogra on LinkedIn Sanctuary Wealth Third Seven Capital Hightower Advisors Brinker Capital Orion Advisor Solution Noreen Beaman Moss Adams Mark Tibergien Connect with our hosts Craig Stuvland tru Independence Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts TheIndieAdvisor.com Interested in going independent? Are you interested in going independent or increasing your independence? Is the process of trying to do it all by yourself overwhelming? tru Independence has the solution. Between our flexible tech stack, growth-oriented services, and a dedicated compliance team that stands in your corner - partnering with tru gives you what you need to efficiently achieve your dream of independence. Stop worrying about what’s holding you back. Talk with tru today. Visit tru-ind.com. 
    Show more Show less
    30 mins
  • How Technology Impacts Independent Advisory Services with Mark Albers
    Mar 15 2022
    In today’s episode, Craig talks with Mark Albers, President and CEO of Kinetic Strategic Partners, an independent advisory firm that provides objective, data-driven advice which allows financial advisors to make decisions and take care of clients on their terms. Mark began his financial services career in 1994 and has served as a financial advisor, producing branch manager, complex director, and regional sales manager for both Merrill Lynch and Morgan Stanley. His diverse experience led him to found Kinetic Strategic Partners in 2012 to advise large, experienced wirehouse teams who serve complex clients. Mark talks with Craig about what sets him apart from other independent consultants, how wirehouse advisors can do more in the independent space, and what key factors one must consider when selecting an advisory firm. Key Takeaways [02:34] - What motivated Mark to establish Kinetic Strategic Partners. [06:23] - What sets Mark apart from other independent consultants. [10:16] - Mark's perspective on wirehouse advisors becoming independent. [14:05] - How Kinetic Strategic Partners qualifies potential clients. [20:32] - Mark’s thoughts on monetizing businesses through succession. [24:04] - Some key elements to consider when choosing an advisory firm. [28:24] - What prevents wirehouse advisors from becoming independent. [30:11] - Four of the most challenging wirehouse experiences. [33:20] - One of the key aspects to consider when working with advisors. [36:21] - What influenced Mark to pursue a career in the advisory field. Quotes [11:39] - "One of the hard things for our clients who are all wirehouse advisors to initially accept is that they've been told their whole career that this is the only place where you have access to X. And in some cases, they can do more in the independent space, there are better products or a broader array." - Mark Albers [26:06] - "There's no perfect firm and there's no perfect partner. But if you know all the information going in and make an informed decision, you're in a better position." - Mark Albers Links  Mark Albers on LinkedIn Mark Albers Email Merrill Lynch Morgan Stanley Connect with our hosts Craig Stuvland tru Independence Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts TheIndieAdvisor.com Interested in going independent? Are you interested in going independent, or increasing your independence? Is the process of trying to do it all by yourself overwhelming? tru Independence has the solution. Between our flexible tech stack, growth-oriented services, and a dedicated compliance team that stands in your corner - partnering with tru gives you what you need to efficiently achieve your dream of independence. Stop worrying about what’s holding you back. Talk with tru today. Visit tru-ind.com. 
    Show more Show less
    40 mins