Advisor Advocates Podcast

As technology continues to advance and evolve, computers are able to perform objective processes more cost effectively than humans in a variety of ways. But the extension of this puts a premium on the human element of the Advisor/Client relationship. While many Advisors may struggle to keep up with computers, those with a true empathy and compassion for their clients may be able to not only survive a battle with the robots but be able to thrive thanks to reduced competition.

If Advisor Advocates can help you explore the best ways to position your practice for the next phase of your business, feel free to give Garrett a call at 919-561-2436 or send an email to [email protected] if you’d like to chat about any questions you may have.

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How much should Financial Advisors expect to earn for various roles in today’s industry? As the industry continues to evolve (and consolidate), Advisor compensation has never been more dynamic. In this episode, Garrett breaks down the landscape to help Advisors and Firms better understand what Firms are offering and which model is best for each type of Advisor.

Check out the new Advisor Compensation Tool to see how much your practice should be earning, and give Garrett a call Garrett at 919-561-2436, or send an email to [email protected] if you’d like to chat about any questions you may have.

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One of the best kept secrets in the financial services industry is the Tuck-In model. One of the best descriptions I’ve ever heard for this is a “hotel for independent financial advisors.” When I left the employee advisor world for independence in 2013, I was unknowingly at the time being introduced to my first tuck-in firm. A collection of Independent Financial Advisors operating under one roof sharing one brand.

While some advisors may elect to use their own branding, it is usually best for all to operate under the common DBA of your team, managed by the independent RIA or if with an independent broker dealer, your OSJ. Typically, this brand provides website, marketing, office space, and collaborative environment. While you ultimately are operating your own business as a 1099 contractor, your are a part of a supportive community often working together building shared investment model portfolios, join marketing materials, and client events, just to name a few.

The economics of this set-up will vary a great deal depending on the needs of the Advisor and the team itself, but the independent Advisor will usually receive a payout of 65-85% of their gross revenue, with some nominal expenses reducing this slightly. For example, an Advisor may earn an 85% payout before paying $500 per month for rent and office supplies. Or 75% including rent, but where the Advisor is responsible for their own E&O insurance and tech stack costs. All-in, a good tuck-in should net the Advisor around 75% once production is above around $250,000.

The support of a tuck-in is ideal for breakaway Advisors, who want to own their book but don’t want to make the total leap to running their own firm. As someone who did it for 7 years, I can vouch for the fact that the marginal 10-20% an independent earns in payout pales in comparison to the added responsibility. So for many Advisors, the tuck-in becomes the final home of their practice.

On the other hand, many Advisors use the Tuck-in Solution as a stepping-stone to total independence (as I ultimately did). And the hallmark of the Tuck-in model is the flexibility to do this. Once you join the team, you will own your book of business that you bring with you and anything you add to it, and a reasonably minded Tuck-In manager will understand and support your decision to move on should that time come, and many will even assist where they can out of goodwill.

If I can answer any questions or help you in your search, call or text 919-561-2436, email [email protected], or schedule time on My Calendar for a Zoom or phone call at your convenience.

Learn more at:

theadvisoradvocates.com

As podcasting continues to grow as a media alternative, millions of investors are turning to podcasts to learn more about making smart decisions with their money. Financial Advisors are eager to tap into the opportunity to share their knowledge and experience with listeners who could be potential clients, but how do we make sure our shows are seen and heard?

In this episode, former Advisor and podcaster Garrett Layell discusses the process of starting and growing a podcast for Financial Advisors. Learn how to start a podcast, how to grow it, and best practices for keeping your listeners engaged and tuned in.

For more information or to speak with Garrett about how he can help:

Visit the website:

Give Garrett a call at 919-561-2436 or

Schedule time to chat:

With hearts of social workers and the minds of capitalists, Doug Kisker describes the unique, growth focused culture of his team at Fidant Wealth Partners. They provide their financial advisors the tools and culture to cultivate their business, without the high sales pressure and rigidity of many of their counterparts, offering an ideal environment for growth minded Advisors who want to plug into a growth machine to accelerate their growth.

If you are an Advisor exploring your options and would like to chat about Doug and his team, feel free to give Garrett a call at 919-561-2436 or send an email to [email protected] if you’d like to chat about any questions you may have.

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