Modern Financial Advisor Podcast

Jake Claver, Managing Director at Digital Ascension Group surprised Mike Langford in this clip with the revelation that the demographics of people who have struck it rich with crypto and other digital assets are not who most financial advisors think they are. In this episode of the show Mike and Jake explore the growing importance of digital assets in wealth management. According to Jake, 20% of an advisor's clients likely a significant amount of digital assets. And the percentage is likely going to climb rapidly as the financial world continues to embrace blockchain infrastructures and the tokenization of assets. Check out the full episode and show notes here: https://lnkd.in/g58_xgCs #Podcast #Crypto #DigitalAssets #Blockchain #FinancialAdvisors #WealthManagement #FamilyOffice #CFP #RIA #AssetManagement

Drew Shockley, CMIP?, Co-Founder of Move Health joins Mike Langford to explore how financial advisors can help create the freedom their clients desire by unlocking the black box of healthcare to deliver a plan that fits their life goals and their budget. As you'll hear Drew and Mike discuss in this clip, far too many people stay in jobs they hate or put off retirement because of the artificial constraints of healthcare costs. Check out the full episode and show notes here: https://lnkd.in/gcQFkYhT Also mentioned in this episode is Larry Nisenson of Assured Allies. #FinancialAdvisors #Healthcare #FinancialPlanning #RIA #CFP #LongTermCare #Insurance

Jason Britton, of Reflection Analytics joins Mike Langford to discuss the transformative power of values-based investing. They explore how financial advisors can help clients align their investment portfolios with their personal values, moving beyond traditional metrics of financial success. The conversation delves into the evolution of financial advice, the importance of understanding client values, and the challenges of navigating polarized discussions around investment choices. Jason emphasizes the need for genuine discovery in client conversations and the role of behavioral economics in understanding client motivations. Check out the full episode and show notes here: https://lnkd.in/gaKJa48V #Podcast #FinancialAdvisor #WealthManagement #FinTech #CFP #CFA

Jud Mackrill, Co-Founder of Milemarker joins Mike Langford for a conversation about the challenges financial firms face regarding data ownership and integration. We have all this amazing tech at our fingertips but most advisors and firms are not getting the value they hoped simply because the systems don't talk to each other all that well. Jud also share his founder's journey from employee number 20 at Orion and getting to work closely to Eric Clarke to how he and Milemarker co-founder Kyle Van Pelt met. This is a fantastic episode that shines a light on how quickly the industry has transformed due to technology in the past two decades and what opportunities still lie ahead. Also mentioned in this episode: - Holistiplan - Roger Pine, CFA?, CFP? has joined Mike on several podcasts over the years. - Wealth.com - Stefan Ludlow, CTO of Cerity Partners as an example of a CTO in our space getting to do real CTO stuff. - Zapier - As a parallel to the Milemarker for other web app connectivity and automation. - Skience - Where Kyle worked when he and Jud met. Catch the full episode and show note here: https://lnkd.in/gstpGJgi #Podcast #FinTech #FinancialAdvisor #WealthManagement #RIA #CFP #DataLake #DataOwnership

Patrick M Spencer of Moneytree Software joins Mike Langford for an exploration of how financial advisors can enhance client relationships through technology. Warning: This episode may cause a craving for Texas BBQ. If your craving lasts more than 4 hours please seek relief at Terry Black's Barbecue in Austin, TX. ?? Catch the full episode and show notes here: https://lnkd.in/g5f5jSjK #Podcast #FinTech #FinancialAdvisors #RIA #CFP #FinancialPlanning

Jon Randall of XFA.COACH joins Mike Langford for an innovative discussion on how financial advisory firms can grow their business without adding new clients. Chances are, you have a lot of untapped growth potential within your existing client roster. Relevant Mentions and Related Episodes - Aaron Hasler of SkyView Partners - Jon was a guest on an episode of the Advisor Financing Forum Podcast with Aaron and Mike. - Kieran Bol, CFA of PriceMetrix by McKinsey - Kieran's research on the state of the wealth management industry reveals a shocking lack of organic growth at most wealth management firms. - Oechsli - Jon referred to one of their studies on the performance of financial advisory firms. Catch the full episode and show notes here: https://lnkd.in/gAtCuPhY #Podcast #FinancialAdvisor #RIA #CFP #Growth #ClientManagement #PracticeManagement #Coaching

Katie Hendrix, Vice President and Director of Asset Allocation Research at Dimensional Fund Advisors joins Mike Langford to discuss how financial advisors can leverage UMAs to scale their business while offering clients increased customization. Sound Bites - "SMAs and UMAs are making investment solutions available to a wider range of people, not just the ultra high net worth individuals." - "Dimensional's UMA platform has allowed the firm to scale and serve a larger number of accounts with a small increase in headcount." - "The UMA platform allows advisors to offer customized solutions while also having scalability and operational efficiency." Relevant Mentions and Related Episodes - Bennett Griesmer - Thank you for suggesting Katie as a guest. - Adam Nash and Daffy - Katie highlighted one of the key benefits of the Dimensional UMA solution is prompt for charitable giving. Check out the episode with Adam on the topic. - The Augmented Advisor with John Prendergast - Katie and Shawn Jaberzadeh joined John and Mike Langford for an episode back when Dimensional rolled out the SMA solution mentioned in this episode. Catch the full episode and show notes here: https://lnkd.in/gbC8SSD6 #podcast #FinancialAdvisors #AssetManagers #UMA #SMA #PortfolioModels #CFP #RIA

"There are two types of companies: those that have been hacked, and those who don't know they have been hacked." ~ John Chambers Michael Cocanower, CEO of AdviserCyber joins Mike Langford this week to remind RIAs that it is not "if" your firm gets hacked it's "when" your firm gets hacked that you need to be prepared to respond. Michael and Mike dive deep into what RIAs can do to protect their firms and recover when the inevitable cyber attack happens. Catch the full episode and show notes here: https://lnkd.in/gyr9XuPv Also mentioned on this episode: - Mykolas Rambus of Hush - CrowdStrike - Microsoft Key Takeaways From This Episode: - The SEC and other regulators are increasingly focused on cybersecurity for financial advisory businesses. - Most RIAs are not equipped internally to protect against cyber attacks. - New SEC rules include revisions to Reg SP and new disclosure requirements. - Cybersecurity efforts should focus on prevention, detection, mitigation, and remediation. - Email-based compromise is a common type of attack, emphasizing the importance of cybersecurity training and multi-factor authentication. Multi-factor authentication (MFA) is crucial in preventing email-based attacks and should be implemented by all users. - Being cautious when clicking on suspicious links and verifying the sender's email address can help identify phishing attempts. - Ransomware attacks have evolved to include data exfiltration, making prevention and detection even more critical. - A proactive approach to cybersecurity, including detection, mitigation, and remediation, is necessary to combat cyber threats. - Engaging in ongoing education and staying updated on cybersecurity trends and best practices is essential for protecting sensitive information. #Podcast #FinTech #Cybersecurity #RIA #FinancialAdvisor #FinancialAdviser

Adam Nash, CEO of Daffy joins Mike Langford to explore how financial advisors can use donor-advised funds to build deeper relationships with their client households. It turns out... planning for and talking about the impact clients and their family members want to make on the world is a great way for advisors to engage. Huge thanks to Hannah Rauch for connecting us with Adam. Also mentioned on this episode: - Wealthfront - Adam was the CEO of Wealthfront. He shares how that experience informed his approach to building Daffy in this episode. - Acorns and LinkedIn - Adam also mentioned his experience as a board member of Acorns and former product lead at LinkedIn. The influence of both can be seen in Daffy's embrace of small contributions and community. - Mykolas Rambus of Hush - Andrew E. Crowell of D.A. Davidson Companies - Peter Krull, CSRIC? of Earth Equity Advisors, A Prime Capital Financial Company Key Takeaways From This Episode - Donor advised funds are a powerful tool for charitable giving and tax planning. - Financial advisors should incorporate charitable giving into their clients' financial plans and understand their clients' values. - Daffy offers a family plan that allows multiple generations to participate in charitable giving and have meaningful conversations about their values. - Technology can make it easier for people to give to charity and automate their giving goals. Daffy offers features for financial advisors to use with their clients, including multi-user support and the ability for advisors to perform financial actions on behalf of their clients. - Advisors are encouraged to talk to their clients about their charitable giving goals and help them create a plan. - Daffy provides content and tools to support advisors in these conversations. - The surprising benefits of Daffy include the support and collaboration from other donor advised funds and the ability to offer integrated charitable matching programs for companies. Catch the full episode and show notes here: https://lnkd.in/gDDXPM8H #Podcast #FinancialPlanner #FinancialAdvisor #WealthManagement #Charity #Giving #DonorAdvisedFund #FinTech

Mykolas Rambus, Co-Founder and CEO of Hush is one of the World's foremost experts in cybersecurity and privacy for high net worth and ultra high net worth individuals and families. Before he launched Hush he founded Wealth-X, a company that pioneered the concept of creating dossiers on the publicly discoverable information on the HNW and UHNW segments. And as you are about to learn in this episode... most of your clients have much larger digital footprints than they realize and that can put their security, privacy, and reputation at risk if not managed correctly. Key Takeaways From This Episode: - It is important for financial advisors to help their clients keep their personal information private and secure in the digital age. - High net worth clients have a significant digital footprint, and there is a lot of information about them available online. - Cybersecurity threats often start with social engineering or phishing attacks, so it is crucial to be aware of these risks. - Family members can be a common vector for digital attacks, so it is important to educate clients and staff about the risks and precautions to take. - Tools like Hush can help individuals protect their online privacy and erase their digital footprint. Extortion, particularly sex extortion targeting teenagers, is a growing threat. Criminals impersonate young girls online and convince young boys to send explicit photos, which they then use to extort money. - Sim swapping, where criminals intercept two-factor authentication codes sent via text message, is increasing in prevalence. It is important to protect personal information and secure cell phone accounts. - Hush is a platform that helps individuals remove their personal data from the internet. It can be used to protect against identity theft and maintain online privacy. - Advisors can recommend Hush to their clients as an additional layer of security and peace of mind. It is particularly relevant for high net worth individuals and those going through liquidity events. Click here for the full episode: https://lnkd.in/gv-pTPGq #Podcast #FinancialAdvisor #WealthManagement #HighNetWorth #UltraHighNetWorth #CyberSecurity #Privacy #ReputationManagement #CFP #RIA