5 Inconvenient Truths About The Independent Advisor Industry And How To Envision A Prosperous And Fulfilling 2019

I realize it’s been a long time since I’ve released a podcast show. Interestingly when I bump into advisors at events, the podcast show is the one thing that people consistently bring up.

2018 has been a great year, but I’ve had far more demands on my schedule which has required me to pause the show for the time being.

Needless to say, I do have some insights…or rather reflections based on my observations of our industry this past year that I wanted to share with you.

Here’s what we cover during this unique “double-feature” episode:

Part 1 – The 5 Inconvenient Truths About The Independent Advisor Industry:

1. The proliferation of advisor-focused Fintech services. (3:30)
2. Digital marketing is ubiquitous (finally!). (4:45)
3. The rise of self-proclaimed “marketing gurus” (discernment is required). (6:08)
4. Vanity marketing vs ROI marketing (choose wisely). (8:54)
5. Offline marketing is still going strong (but there are some drawbacks). (10:44)

Part 2 – 7 Keys To Envision A Prosperous And Fulfilling 2019:

1. Go deep, not wide. (14:31)
2. Be human, communicate naturally. (16:15)
3. Define your wheelhouse and stay in your lane! (17:57)
4. Expect and demand more value from your existing business relationships. (20:00)
5. Place more value on your physical health over your business health. (22:13)
6. Plan for your intimate relationships. (23:39)
7. Embrace lifestyle design and optimize your life for emotional peak experiences. (26:09)

Notable Quotes:

The Dalai Lama, when asked what surprised him most about humanity, said:
“Man. Because he sacrifices his health in order to make money. Then he sacrifices money to recuperate his health. And then he is so anxious about the future that he does not enjoy the present; the result being that he does not live in the present or the future; he lives as if he is never going to die, and then dies having never really lived.”

• Listen to it on iTunes.
• Download as an MP3 by right-clicking here and choosing “save as”.

Links And Resources Mentioned In This Episode:

• Betterment For Advisors
• Riskalyze
• Wealthsimple – Investing for humans
• SmartAsset
• Sam Ovens
• FormulaFolios
• MM1 Collective
• Tim Ferriss – Past Year Reviews Exercise
• Dan Lok – Plan Your Relationships
• Jeremiah Desmarais

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Thanks for joining us, until next time!