Elementality for Financial Advisors | Elements Financial Vitals System™

Why does our industry, with its business model, processes, and tools seem to only work effectively for the wealthiest 1% of Americans? On this episode of Elementality, Reese and Carl explain why more innovation is needed to reach a wider audience who want and need financial help—and why the established system ends up introducing greater complexity.

Perhaps it's a fear of failure. Or, you've had a crazy idea about a niche—and you just can't commit to it. Whatever is holding you back, Colton Etherton will help you think more creatively about narrowing your market. On this episode of Elementality, Reese and Carl talk with Colton, the Tattoo Artist Advisor, about how to overcome narrow niche fears.

Money is the top cause of stress for Americans. As they look for answers, advisors have a unique opportunity to provide needed guidance. On this episode of Elementality, Reese and Carl illustrate the power of a single answer. By having their most acute problem solved first, a prospective client is often eager to begin more involved planning discussions. 

Financial planning remains expensive as it mainly targets the needs of the richest 1%. And unfortunately the technology we use was tailored for a passing era and has not kept up with today's changing planning demands.  On this episode of Elementality, Reese and Carl discuss right-sized planning and bringing the cost of advice down so we can impact the 99%.

The market of people needing answers to their financial questions is enormous. But what works for the top 1% does not work for everyone.  On this episode of Elementality, Reese and Carl look at the issues preventing advisors from going downmarket—and explain why there's a need to rethink how to capture this massive market that's looking for our help.

As an advisor, you help your clients work towards many financial goals. One should be ensuring they aren't overpaying the IRS.  On this episode of Elementality, Abby welcomes Steven Jarvis, founder of Retirement Tax Services. Find out what services can help grow your tax expertise and how to work more closely with CPAs to benefit your clients.

Money is the source of anxiety and angst for the great majority of Americans. So how can you provide guidance that helps clients improve their relationship with money, which is vital to finding financial peace? On this episode of Elementality, Reese and Carl reveal why, from the start, you need to alleviate client emotional worries about money. 

A single asset, a house, can become deeply tied to a person's identity. Then, after excessive funds are committed towards the home, it is almost impossible to think objectively when it comes to wealth optimization. On this episode of Elementality, Reese and Matt talk about the Elements Real Estate (Rt) ratio and where a home fits in the measurement.

To trust you and your advice, clients need to know that you genuinely understand what matters to them when it comes to their money.  On this episode of Elementality, Reese and Carl reveal why advisors need to ask good questions, intently listen, and then probe even further into the responses to unearth the core purpose that person has for their wealth. 

What do baseball cards, consistent tracking of net worth, and the question, "Am I doing OK?" have to do with the evolution of Elements?  On this episode of Elementality, Reese talks to the clients of his RIA, Dentist Advisors, about the ideas that became Elements. It's a unique look at the origins of the innovative system that's changing financial planning. 

Carl Richards coined the term "real financial planning" years ago. Since then industry influencers have tried to explain what it means.  On this episode of Elementality, Reese and Carl talk about the factors that might help provide a definition—an element of trust, technical chops, emotional IQ—and ask if we, as advisors, are getting any better at it?

Sales success begins with conversations that build rapport and allow both parties to communicate what they are really thinking.  On this episode of Elementality, Reese interviews Jake Larsen, VP of Sales at Elements. Jake explains how to build trust by educating prospects about your services and aligning their needs with your value proposition.

Can you help clients make good decisions today—keeping the future in mind—while also helping them live with greater happiness in the present? On this episode of Elementality, Reese and new co-host Carl Richards discuss why your biggest challenge is helping clients make optimal decisions throughout their lives, while ensuring they enjoy the here and now. 

Don't let prospects languish in the middle of your sales funnel because they lack engagement. Elements assessments keep them involved in the sales process as you demonstrate your value and they experience your advice. On this episode of Elementality, Reese and Matt illustrate how Elements creates numerous opportunities for you to keep prospects engaged. 

Trends show that the planning industry is going to look a lot different in the future. Here's why finding a good niche could be the way to go. On this episode of Elementality, Reese and Adam Cmejla talk about the success Adam has found focusing on a highly-specialized niche market. Find out why specializing increasingly makes sense in our evolving industry.

Knowledge was once difficult to obtain, so we went to college to get it. Now access to information is almost immediate, yet we still use just-in-case learning when just-in-time learning is much more effective.  On this episode of Elementality, Reese and Matt explain how you can leverage just-in-time learning methods when training new advisors.

Many retirees will be in retirement for 20 to 30 years, yet most financial plans take a person to the point of retirement and no further.  On this episode of Elementality, Reese interviews Blain Pearson PhD, CFP®, from the Department of Financial Planning at Kansas State to discuss the financial challenges people face throughout retirement.

As people make more, building wealth through an increase in savings is directly tied to whether they can decrease their spending rate.  On this episode of Elementality, Reese and Matt examine the Burn Rate (Br) Element.  By using different incomes as examples, they illustrate what they would consider to be high, low, and healthy spending rates for each.

When planning, you've got the functional side of advice down. But people also have emotional needs tied to their money. Using these principles of behavioral psychology can help you with "the human side of money." On this episode of Elementality, Reese welcomes podcast host Brendan Frazier, to discuss the therapeutic side of the advisory relationship. 

As an advisor, you motivate clients to think about financial health and they count on you to occasionally remind them of its importance. On this episode of Elementality, Reese and Matt discuss financial salience and why the more often you take time to discuss even small financial issues with clients, the better they will become at managing their money.

This small RIA owner reevaluated her firm's model, took a step back to reset, and then found success focusing on a very specialized niche.  On this episode of Elementality, Reese welcomes Leah Coleman of the Orchard Financial Group. Niche marketing is gaining popularity and Leah shares the twists and turns her firm took before she found niche success. 

Beyond keeping enough money in an emergency fund, at what point are clients accumulating too much cash and need to put some of it to work?  On this episode of Elementality, Reese talks to the clients of his RIA about the advantages of maintaining adequate liquidity. Hear the type of advice you can offer your own clients about the Liquid Term (Lt) Element.

Because of how the pandemic disrupted the way people learn, new just-in-time learning methods are being used to train advisors.  On this episode of Elementality, trainer extraordinaire Brett Danko joins Reese to discuss new strategies used to teach advisors. Financial education should be constant, find out how it is changing to fit your needs.

As large, subscription-based advisory brands find significant growth with the average consumer, what could it mean for small RIAs? On this episode of Elementality, Reese and Matt look at the success of fee-based firms—focused on giving no-commission advice—who are finding significant traction marketing to consumers who have never used an advisor.

Clients want to stay in touch, but too many meetings can be burdensome. Here's how to stay connected while demonstrating your expertise.  On this episode of Elementality, Reese and Paco de Leon, of The Hell Yeah Group, explain why it's critical to interact with clients by creating content and offer their tips so you have the confidence to publish.