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Welcome again to the 375th episode of the Monetary Advisor Success Podcast!
My visitor on as we speak’s podcast is Rob Schultz. Rob is the Senior Accomplice of NWF Advisory, a hybrid agency primarily based in Los Angeles, California, the place he oversees almost $500M in property below administration for 200 consumer households.
What’s distinctive about Rob, although, is how he is systematized his assembly course of, from his assembly prep right down to a standardized agenda move that enables him to dig into client-specific particulars whereas additionally sustaining an environment friendly assembly course of… which has allowed him to scale as much as over 20 consumer conferences each week… and nonetheless maintain his sanity and power ranges up in order that that is sustainable to him as he builds his agency.
On this episode, we speak in-depth about how Rob units the agenda for his 20+ conferences per week along with his purchasers utilizing a structured move that all the time touches on the identical key areas for each consumer, the way in which he leverages his paraplanner to prep a stack of consumer conferences in order that he can knock by way of per week’s price of assembly preparation in just some hours each Monday morning, and the way in which Rob leverages the built-in audio transcription options in Microsoft Phrase itself to shortly wrap up his post-meeting notes on the finish of every day.
We additionally discuss Rob’s journey from getting an undergrad in Kinesiology and beginning med faculty to transferring into accounting after which in the end changing into a monetary planner by way of this system at UCLA (as a result of monetary planning was the right mix of serving to individuals the way in which he wished to in medication, and dealing with numbers the way in which he did in accounting), the way in which Rob has been in a position to develop by executing a collection of “succession plans” the place he buys out and takes over the practices of retiring advisors, and the way in which Rob has been in a position to scale up his effectivity additional by getting extra systematized along with his investments, particularly the rise in recent times of outsourced TAMP suppliers and the supply of ETF mannequin portfolios.
And make certain to take heed to the tip, the place Rob shares the influence it had when a mentor identified how he might be the neatest advisor on the market, but when he could not make sufficient cash to final, he wasn’t going to have the ability to assist anybody, how a lot Rob has realized that gentle expertise are required to get his purchasers right into a mindset the place they’re on a very good path and may use any more money they need to make their very own lives higher, and the way attending to the purpose the place Rob was truly in a position to say “No” to potential purchasers who he knew deep down actually weren’t a very good match – however Rob lastly felt he had the liberty to behave on that actuality – grew to become the breakthrough that added drastically to his personal psychological well being as a monetary advisor .
So, whether or not you are eager about studying about easy methods to develop your agency by way of succession plans, how a lot gentle expertise and consumer mindset are simply as essential because the data you will have as an advisor, or easy methods to successfully handle an awesome quantity of consumer conferences with ease, then we hope you get pleasure from this episode of the Monetary Advisor Success podcast, with Rob Schultz.
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