Elementality for Financial Advisors | Elements Financial Vitals System™

In an effort to get prospects to buy their services, some advisors lead with free advice. But how much should you give away? What kind of advice? Should you be giving away anything at all? To sell your planning services, prospects do need to know something about what you are going to deliver. On this episode of Elementality, Reese and Chad take a look at why putting your focus on the process of pl...

What describes your advisory approach? Are you the "hero" who has the optimal financial solution for clients? Or, are you the "guide" who helps align a client's finances with their life? Reese's guest on this episode of the Elementality podcast is Scott Frank of Stone Steps Financial. Scott explains how guiding clients to first focus on what they want from life creates an emotional connection to t...

Pricing is becoming a major issue for planning firms. While managing client portfolios doesn't carry the value it used to, finding the right fee structure for traditional planning—which takes many hours of work each year—can be difficult. On this episode of Elementality, Reese and Chad take a look at the future of AUM and retainer fee models. They discuss what you need to consider prior to making...

Depending on the advice you're after, you hire a personal trainer, or a lawyer, or a therapist … or a financial "advicer." That's the term Michael Kitces' coined to clarify the difference between fiduciaries and commission-driven advisors. Michael is Reese's guest on this episode of the Elementality podcast. XY Planning Network co-founder and iconic thought-leader, Michael explains why the financi...

Too many advisors make the mistake of not telling clients it takes time to deliver the value they offer. A good financial plan needs to take into consideration a client's aspirations. And it takes a steady stream of client interactions over a long period of time to help them reach those dream desires. On this episode of Elementality, Reese and Chad discuss how your real value is reinforced when yo...

The financial advice industry is steadily shifting away from portfolio management to financial planning. Positioning your firm to make sure you join the new era of wealth management will be critical. On this episode of the Elementality podcast, Reese and Douglas A. Boneparth of Bonefide Wealth, discuss why focusing on the next generation may be the only way to survive—and thrive—as a planning firm...

As a fiduciary advisor, you put client needs first as you help them gain confidence in their plan. But how do they know you care about their progress? On this episode of the Elementality podcast, Reese and Chad explain why you need to take all client financial data seriously as you track net worth growth. Too many advisors don't have a process to monitor progress. To build closer relationships you...

The financial services landscape continues to evolve as more companies develop technology that appeals to a wider audience. A glimpse into a futurist's crystal ball reveals that what is coming next could change fintech … and advisory services as well. On this episode of the Elementality podcast, Reese welcomes Natalie Taylor who has spent the bulk of her career trying to disrupt the fintech status...

Does it fluster you when a client doesn't implement their financial plan? The planning process grinds to a halt and you're left wondering what more you could do to motivate them. On this episode of the Elementality podcast, Reese and Chad discuss why each client should feel they are a crucial part of the planning process. Find out how clear communication from you and open collaboration with them r...

With both product salespeople and RIAs labeled as "Financial Advisors" it's difficult for a general audience to really understand the difference. Fiduciaries educate prospect-by-prospect—it's vital when selling our services—but does the RIA vs product pitch debate have any public advocates? On this Elementality podcast meet Carl Richards. Known for his "Sketch Guy'' New York Times column, Carl exp...

It's easy to understand why we are so fascinated with technology. In the last decade we've seen the rise of the smartphone, the Cloud, and we live in a world that has become increasingly connected. With so much cool stuff, it's easy to make a mistake when you're over eager about your own firm's technology. Making sure the apps you want actually provide the right solution is not easy. On this episo...

Are you still using prospecting strategies from the 1980's—leveraging family and friends and cold calling? In 2021 there are better ways to reach people. Reese's guest on this episode of the Elementality podcast is Paul Thompson, Founder of Advisor Accelerator. A digital marketing master, Paul shares his ideas about the efficiency of niches; about branding with a message that sells you as an exper...

As an advisor, you have superior quantitative skills. Your understanding of finances is advanced well beyond your clients. Unfortunately, that can often result in you overwhelming your clients with data and numbers. To communicate financial planning principles to your clients, it may be time to take a different approach.  On this episode of the Elementality podcast, Reese and Chad explain how a li...

The financial planning industry is flourishing and that growth affects even the smallest RIA firm. Should you hold tight or expand? It's a question without an easy answer. Reese's guest on this episode of the Elementality podcast, Stephanie Bogan, knows growth. In her words, "if you can get to $500,000 in revenue, you can do anything." On the show they discuss why finding small success can lead to...

While advisors are good at providing advice, it's difficult to get all the data needed to formulate that advice. It's an issue that rests as much on clients as it does their advisors. So how do you get the precise details you need? On this episode of the Elementality podcast, Chad and Reese discuss why collecting good data is difficult—and why it is so important. Technology may be able to fix the...

Daniel Hannoush, CEO of Pandowealth, had a problem. His niche firm was growing so fast they didn't even need to market their services. At the very top of his high-growth dilemma was the need for a process that could help solve several issues. For the first time on the Elementality podcast, Reese interviews an Elements client. You'll relate to Daniel's real-world problems as he explains why the sol...

Your small business' growth is based on bringing in more clients. That may seem obvious, but many small firms stall by not thinking through their early hires, too often duplicating skills that don't fuel growth. On this episode of the Elementality podcast, Chad and Reese look at some of the roadblocks to growing a financial planning firm—paying close attention to creating scale in your offering. F...

Recently, many new industry ideas and innovations have centered around business models and pricing. And as the advisor landscape continues to shift, it's important that you keep an open mind about these changes. On this Elementality podcast, Kate Holmes, a CFP® Women's Initiative council member, is Reese's special guest. Kate talks about her role on the council, about the industry's global growth,...

Are you too focused on fees? Many advisors offer planning but struggle to figure out how to charge for it. They spend too much energy trying to find the right pricing model and not enough focus establishing their value proposition. On this episode of the Elementality podcast, Chad and Reese look at the pros and cons of the different fee models used by fiduciaries. Their discussion then shifts to w...

"There's only one thing you ever sell a client on, it's their dream of freedom." This is just one bit of the wisdom George Kinder shares as Reese's special guest on this episode of the Elementality podcast. Called the Father of the Life Planning movement, George has helped transform financial advice over his 50-year career. While in recent decades fiduciary financial planning has gained a great de...

With financial planning, technical skills are the minimum job requirement. Learning to do functional jobs like data gathering, analysis, and preparing the financial plan are essential. Solving client financial anxieties is more difficult, which can leave you feeling like you aren't bringing enough value to the client. On this Elementality podcast, Reese and Chad point out that what clients are rea...

Find out why the concept of work/life balance may be a myth. With so many areas of your life that need attention, is equilibrium really possible? On this episode of the Elementality podcast, Reese interviews Dr. Travis Parry, coach, author, influencer, and noted speaker on achieving balance in your life—and if it's even possible. When you gain better focus on your priorities it will help you feel...

As advisors, we need to balance the functional jobs and emotional jobs of financial planning to build effective client relationships. Our tendency is to center these jobs around regularly scheduled client meetings. On this Elementality, Reese and Chad explain why identifying and working on functional jobs outside of meetings allows you to focus on important client emotional financial anxieties dur...

Do you ever consider how money should create occasional joy for your clients? Or do you see your job as merely providing a guide map to retirement? As advisors help counsel clients on how money can positively affect their overall well-being, they need to learn how to improve in their role as "financial therapists." On this Elementality, Reese welcomes a real financial therapist, Dr. Meghaan Lurtz,...

Advisors are approached by clients for a variety of reasons, but usually there's a financial pain they're trying to solve. However, one question often stands out, "How am I doing?" On this episode of Elementality, Reese and Chad discuss why clients look for confirmation that their financial life is on track—and for reasons to be confident in the advice they are receiving. This is not a financial q...