Welcome again to the 375th episode of the Monetary Advisor Success Podcast!
My visitor on right this moment’s podcast is Rob Schultz. Rob is the Senior Associate of NWF Advisory, a hybrid agency based mostly in Los Angeles, California, the place he oversees almost $500M in property below administration for 200 shopper 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 shopper conferences each week… and nonetheless preserve his sanity and vitality ranges up in order that that is sustainable to him as he builds his agency.
On this episode, we discuss in-depth about how Rob units the agenda for his 20+ conferences per week along with his shoppers utilizing a structured move that all the time touches on the identical key areas for each shopper, the best way he leverages his paraplanner to prep a stack of shopper conferences in order that he can knock via per week’s price of assembly preparation in just some hours each Monday morning, and the best way Rob leverages the built-in audio transcription options in Microsoft Phrase itself to rapidly 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 turning into a monetary planner via this system at UCLA (as a result of monetary planning was the proper mix of serving to individuals the best way he needed to in drugs, and dealing with numbers the best way he did in accounting), the best way Rob has been in a position to develop by executing a sequence of “succession plans” the place he buys out and takes over the practices of retiring advisors, and the best way Rob has been in a position to scale up his effectivity additional by getting extra systematized along with his investments, particularly the rise lately of outsourced TAMP suppliers and the provision of ETF mannequin portfolios.
And be sure to hearken to the tip, the place Rob shares the impression 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 mushy expertise are required to get his shoppers right into a mindset the place they’re on an excellent path and might use any more money they should make their very own lives higher, and the way attending to the purpose the place Rob was really in a position to say “No” to potential shoppers who he knew deep down actually weren’t an excellent match – however Rob lastly felt he had the liberty to behave on that actuality – turned the breakthrough that added tremendously to his personal psychological well being as a monetary advisor .
So, whether or not you are fascinated by studying about how one can develop your agency via succession plans, how a lot mushy expertise and shopper mindset are simply as necessary because the data you may have as an advisor, or how one can successfully handle an amazing quantity of shopper conferences with ease, then we hope you take pleasure in this episode of the Monetary Advisor Success podcast, with Rob Schultz.
