• 134 Please, tell me the truth (Thanks For The Feedback)

    In this episode, Sten and Andy are talking about the book “Thanks for the Feedback” by Sheila Heen and Douglas Stone and sharing their key takeaways. 

    They discuss personal experiences, highlighting their growth in handling feedback and the importance of constant feedback for personal and professional development, citing examples of successful individuals who actively seek feedback. 

    They explore different types of feedback and the emotional triggers that can block it. 

    The episode concludes with practical advice on seeking feedback from trusted sources and the necessity of embracing feedback to achieve continuous growth and self-improvement.

    Click here to purchase your seat at our next How To Charge LIVE event, and get $300 off your ticket using the code “300OFF” at checkout.

    19m - Jul 12, 2024
  • 133 The Threat and Potential of AI In Our Industry

    In this episode, Sten talks with Ben Angel. They dive deep into the impact of AI (artificial intelligence) on the financial industry and the role of financial advisors in adapting to these changes.

    Ben, who has 20 years of experience in educating entrepreneurs, highlights the potential benefits and risks of AI, emphasizing transparency, critical thinking, and the need for financial advisors to upskill. 

    He also addresses regulatory concerns and the emotional implications of AI advancements.

    Ben’s latest book, "The Wolf is at The Door - How to Survive and Thrive in an AI-Driven World" explores societal, economic, and psychological impacts of artificial intelligence on the future of our existence.

    This episode is a must-listen for anyone interested in the future of finance and technology.

    Ben’s Website: 


    Ben’s Social Media

    Facebook | Instagram | YouTube 

    Click here to purchase your seat at our next How To Charge LIVE event, and get $300 off your ticket using the code “300OFF” at checkout.

    If you attended Whiteboard University, reach out to support@eadvisornetwork.com to get your discount code for How To Charge LIVE. 

    33m - Jul 5, 2024
  • 132 Advisor Stories: Putting together vacuums and the value of your time

    In this episode, Andy chats with Mihei Egoroff, a financial advisor with four and a half years of experience. Mihei shares his journey from focusing on AUM to emphasizing financial planning services. He discusses his early experiences with money, the influence of a mentor, and the pivotal shift inspired by Sten's teachings. Mihei highlights the practical aspects of charging for planning services, client interactions, and the benefits of a structured financial plan.

    Early Money Lessons:

    Mihei’s first job assembling vacuum cleaners taught him the value of efficiency and time management, a lesson that has profoundly influenced his career.

    Career Shift:

    Discover how Mihei transitioned from a traditional AUM model to a more holistic financial planning approach, emphasizing the value of charging for time and ideas.

    Client Interactions:

    Learn about Mihei’s strategies for engaging clients who are eager to maximize their financial lives, from simple HSA strategies to complex retirement planning.

    Practical Implementation:

    Mihei shares real-life examples of how his planning services have saved clients significant amounts in taxes and optimized their financial strategies.

    Fee Structure:

    Get insights into Mihei’s fee structure, including his minimum fees and payment methods, which ensure clients are committed and follow through with their plans.

    Mentorship and Learning:

    Mihei credits his shift in focus to influential mentors and podcasts, including Sten Morgan’s interview on the Financial Advisor Success podcast.

    Client Success Stories: 

    Hear about a high-earning couple who, with Mihei’s guidance, are set to save seven figures over their lifetime through strategic planning.

    Efficiency in Planning:

    Understand how Mihei balances the complexity of financial planning with efficient client management, ensuring each plan is tailored and actionable.

    Community and Growth: Mihei’s involvement in our community has not only enhanced his skills but also provided him with the tools to elevate his business and client service.

    Click here to purchase your seat at our next How To Charge LIVE event, and get $300 off your ticket using the code “300OFF” at checkout.

    If you attended Whiteboard University, reach out to support@eadvisornetwork.com to get your discount code for How To Charge LIVE. 

    28m - Jul 3, 2024
  • 131 Book Review: War of Art - Understand and overcome your enemy

    In this episode, Sten and Andy discuss their experiences with creativity and resistance, drawing insights from the book "The War of Art” by Steven Pressfield.

    The Struggle with Creativity:

    They explored how resistance can be a formidable opponent in creative and entrepreneurial journeys.

    The Power of Non-Finance Books:

    Discover why stepping outside your usual reading genres can profoundly impact your thinking.

    Insights from "The War of Art":

    This book sheds light on the internal battles creatives face and the concept of resistance as a universal force that opposes our best efforts.

    Turning Pro:

    They discuss the journey from average to elite performance, and recognizing and overcoming resistance to achieve professional excellence.

    Daily Strategies to Combat Resistance:

    They share practical tips for addressing resistance every day, and the importance of accountability and surrounding yourself with supportive peers.

    Click here to purchase your seat at our next How To Charge LIVE event.

    14m - Jun 28, 2024
  • 130 The Formula For Growth

    Peer groups and accountability are the keys to surviving in this industry. Nothing ever reaches its potential alone. 

    In this episode, Sten and financial advisor Ben Hockema discuss their career journeys, challenges, and strategies for success. 

    Ben shares his path from an unplanned entry into the industry through an internship to launching his own wealth management firm. He highlights the importance of equity partners, team building, and peer groups in his growth. 

    He also emphasizes the value of networking, vulnerability, and continuous learning. He recounts forming a peer group of junior planners, which evolved into a supportive network of business owners. 

    This episode underscores the significance of seeking diverse perspectives and maintaining curiosity for professional development.

    Want to attend Whiteboard University? Click here to learn more. 

    Click here to purchase your seat at our next How To Charge LIVE event in August.

    31m - Jun 21, 2024
  • 129 Getting More Business Through Whiteboarding (Whiteboard University is here)

    In this episode, Sten and Andy discuss the significance of whiteboarding in the business.

    Whiteboarding isn't just about drawing on a board; it's a game-changer for client engagement and communication in business. 

    By effectively using whiteboarding, you can transition from a transactional approach to a coaching mindset, helping clients understand the significance of their strategies. 

    They talk about Whiteboard University, a new training program designed to master this skill. 

    This episode covers the importance of visual aids, communication skills, and rapport with clients, leading to faster and more successful business outcomes.

    Want to attend Whiteboard University? Click here to learn more.

    Click here to purchase your seat at our next How To Charge LIVE event in August.

    19m - Jun 14, 2024
  • 128 Live Longer or Die Earlier…your call

    In this episode, Sten has a conversation with Stevyn Guinnip, the founder of Grow Wellthy, a company that helps financial advisors invest in their health. 

    Together, they dove into the striking parallels between managing wealth and health.

    Stevyn draws from personal experience and shares the importance of a holistic approach to health. She identified common challenges advisors face, such as time constraints and confusion about health strategies. 

    They end their discussion emphasizing consistency and accountability, and the urgency of health prioritization.

    Resources from this episode:

    Health Quiz = https://www.growwellthy.com/quiz

    Website = https://www.growwellthy.com

    Linkedin = https://www.linkedin.com/in/stevyn-guinnip/

    Want to attend Whiteboard University? Click here to learn more. 

    Click here to purchase your seat at our next How To Charge LIVE event in August.

    30m - Jun 7, 2024
  • 127 Ways To Make Teaming Worth It w/ Jon Bass

    In this episode, Andy interviews Jon Bass, a seasoned financial advisor with 14 years of experience.

    They dive into the significance of joint work in the financial industry, with Jon attributing much of his success to collaborative efforts, especially when overcoming the credibility gap due to his youth early in his career.

    Jon emphasizes the evolution of his business towards fee-based planning and offers practical advice for selling planning services. He also shares his passion for risk and tax management, drawing from lessons learned during the 2008 financial crisis. 

    Additionally, Jon highlights the importance of understanding clients' learning styles to improve engagement and the selection of compatible joint work partners. 

    The episode concludes with Jon discussing his favorite tax strategies, the expansion of his team, and the potential implications of estate tax changes and inflation. 

    Want to attend Whiteboard University? Click here to learn more. 

    Click here to purchase your seat at our next How To Charge LIVE event in August.

    25m - Jun 5, 2024
  • 126 The Best Book For Financial Planners Isn’t About Financial Planning

    In today’s episode, Sten and Andy are discussing the profound influence Patrick Lencioni’s book "Getting Naked" has had on their professional development. 

    They explore how being genuine with clients creates a foundation of trust and sets the stage for more meaningful financial planning.

    They also share insights on how to maintain a professional yet caring relationship with clients, ensuring we don't overstep or over-serve.

    Sten & Andy emphasize the importance of a humble attitude when managing projects for clients, steering clear of any pompous or self-centered approaches.

    "Getting Naked" isn't your typical business book. It's a story that resonates with real-world challenges and teaches us to be agile and comprehensive in our planning.

    This episode is all about how embracing vulnerability and focusing on client-centric service can lead to a more successful and satisfying practice. They both agree that this book is worth revisiting every few years.

    You can order a copy of Patrick Lencioni’s book here.

    Get six free training videos and a dozen free planning resources at GoBeElite.com.

    19m - May 31, 2024
  • 125 The Elite Assumption: Getting more and better clients

    In today’s episode, we discuss the Elite Assumption mindset.

    Embrace the Elite Assumption

    We dove deep into the power of the 'Elite Assumption.' It's a game-changer. We're talking about shifting gears from the passive "someone might need us" to the proactive "everyone needs something from us." This mindset is the cornerstone of not just meeting, but exceeding client expectations.

    Confidence is Key

    We also unpacked the essence of confidence in our line of work. It's not just about feeling good; it's about being a beacon of solutions for our clients. When you pick up the phone or meet a prospective client, remember: you're not just a financial advisor; you're a problem-solver, a value provider, and a financial superhero.

    Continuous Improvement is Non-negotiable

    Lastly, we touched on the importance of never resting on our laurels. The financial world is ever-evolving, and so should our expertise. It's about staying hungry for knowledge and being the advisor who clients can rely on, no matter the challenge.

    Get six free training videos and a dozen free planning resources at GoBeElite.com.

    14m - May 24, 2024
  • 124 Advisor Stories: Selling insurance makes selling planning easier with Nelson Wood

    In this episode, Andy connects with Nelson Wood, an advisor with a family history in the industry dating back to 1888. 

    Nelson shares his journey from working in sales at Dewalt Industrial Power Tools to joining his family's business in insurance and financial planning. 

    They discuss the importance of not giving away planning services for free and how insurance can lead to more comprehensive planning conversations. 

    Nelson, based in Dallas, Texas, has expanded his practice to include a team that complements each other's strengths in insurance and AUM. His partnership Matt, who focuses on AUM, has reinvigorated his excitement for the future of their firm. 

    This episode emphasizes the value of asking the right questions to uncover client needs and the urgency of insurance in financial planning. 

    Get six free training videos and a dozen free planning resources at GoBeElite.com.

    23m - May 22, 2024
  • 123 The 8 Forms of Prospecting

    Sten and Andy explore the prospecting spectrum and strategies for attracting clients. 

    They examine the typical experience advisors face when seeking new clients and the common pitfalls of the "activity at all costs" mindset. If you've ever felt like you're spinning your wheels without attracting those dream clients, this episode is for you.

    From Brute Force to Targeted Strategy:

    They explore the full range of prospecting methods, from the brute force approach (think cold calling en masse) to the more refined targeting strategy. Sten shared why brute force should be a stepping stone, not a destination, and how to evolve your methods to work smarter, not harder.

    Elite Networking Insights:

    Ever wondered how to leverage your existing network without feeling like you're using your friends? They talked about that too. Here’s a hint: it's all about adding value and being seen as a professional resource.

    Targeting the 10%:

    They also touched on the concept of the 10% group from the "Blue Ocean Strategy." It's about finding those untapped markets where competition is less fierce, and opportunities are ripe for the taking. Think business owners and real estate professionals who might not even know they need your services yet.

    Content is King:

    Lastly, they discussed the transition to becoming a content machine. Imagine creating a platform that draws in leads while you sleep – that's the dream, right? They share how to make that a reality.

    Legacy Investment Planning is hiring. Think you’d be a good fit for the team? Go to StenMorgan.com/apply.

    23m - May 17, 2024
  • 122 Long-Term Greed vs. Short-Term Gain with Eric Kapitulik

    Sten sits down with Eric Kapitulik, a former Marine Corps officer and co-founder of The Program. Listen to this episode to absorb the wealth of knowledge Eric shared. It's not just a conversation; it's a roadmap to becoming a better leader, teammate, and individual.

    Embracing Challenges: Eric's journey from the military to the consulting world is a testament to the power of resilience. He reminds us that no matter the size of your team or the scope of your challenges, the principles of leadership and discipline are universal.

    A Must-Read: Eric's book is packed with intensity and invaluable lessons that will leave you inspired.

    Long-Term Greed vs. Short-Term Gain: One of Eric's golden nuggets of wisdom is to focus on long-term wealth creation, not just for your clients but for yourself—in all aspects of life. This principle has stuck with him since his days in financial services and continues to guide his decisions.

    The Power of Persistence: Did you know the average prospect engages after eight points of contact, yet most salespeople give up after three? Eric's experience highlights the importance of discipline and the game-changing impact of staying the course.

    Leadership and Teamwork: Whether you're flying solo or part of a larger organization, the essence of success lies in efficient teamwork and the pursuit of excellence through clear goals and standards.

    Mindset Matters: They discuss the crucial distinction between 'hard' and 'challenging' and how reframing our mindset towards gratitude can profoundly influence our daily motivation and actions.

    Launch Your Day with Purpose: Starting your morning with intention can set a positive tone for the entire day. Whether it's exercise, journaling, or another focused activity, make it count.

    Kindness vs. Niceness in Leadership: Eric and Sten explored the deeper meaning of kindness in leadership—it's not just about being nice, but about pushing each other towards growth and improvement.

    Eric's website: https://theprogram.org/

    Legacy Investment Planning is hiring. Think you’d be a good fit for the team? Go to StenMorgan.com/apply.

    48m - May 10, 2024
  • 121 Advisor Stories: The fear of Who Not How, loving insurance and selling planning (James Graham)

    Co-host Andy Traub sits down with advisor James Graham for this Advisor Stories episode. 

    James shares his journey of nearly a decade in the industry, focusing on the significance of team structure and specialization in financial planning. 

    He discusses his approach to delegating tasks, allowing him to concentrate on client interactions and strategic business planning. 

    James highlights the challenges of balancing personal involvement with the necessity of trusting his team to handle responsibilities. 

    Legacy Investment Planning is hiring. Think you’d be a good fit for the team? Go to StenMorgan.com/apply.

    22m - May 8, 2024
  • 120 Sten Q&A: Hiring, best books & abdication vs delegation

    In this episode, Sten answers your questions from the financial advisor community. 

    He outlines the growth stages of an advisory practice, detailing his own experience from solo advisor to a larger team, emphasizing delegation and hiring strategies. 

    Sten discusses prospecting techniques, the value of solving client problems, and recommends books that shaped his business approach. 

    He also shares insights on managing people, the importance of structured onboarding, and the distinction between abdication and delegation. 

    Legacy Investment Planning is hiring. Think you’d be a good fit for the team? Fill out the Advisor application form here.

    20m - May 3, 2024
  • 119 Tax Strategies: What every business owner wants to know

    Sten sits down with Mike Jesowshek, a CPA and entrepreneur, to discuss the gap between knowing tax strategies and implementing them.

    Mike's journey is nothing short of inspiring. From starting his first business at 14 to pioneering a digital accounting firm, he's a testament to where passion and expertise can take you. In their chat, he peeled back the curtain on his transition from online marketing to becoming a tax strategy virtuoso.

    Mike stressed the importance of the power of simplicity by breaking down complex tax concepts into bite-sized, understandable pieces. Imagine using a Health Savings Account as a retirement tool or the benefits of hiring your children and funding Roth IRAs – these are just a couple of the strategies they dove into.

    They also tackled the art of communication in the financial advisory world. It's not just about what you say, but how you say it. Advisors need to challenge the status quo, ditch the generic newsletters, and really engage clients with compelling, clear information.

    Ever heard of hiring your kids but felt too overwhelmed to implement it? You're not alone. We discussed why many business owners know the strategies but don't act on them. It's about giving you the confidence and the nudge to take that next step – and that's where advisors shine.

    They also discussed the importance of sharing knowledge openly with clients. By not shying away from sharing information, advisors can build trust and provide immense value, showcasing how tailored tax strategies can significantly impact a client's financial health.

    You can hear more from Mike here:

    Small Business Tax Savings Podcast: https://www.taxsavingspodcast.com/

    TaxElm: https://taxelm.com/

    Legacy Investment Planning is hiring. Think you’d be a good fit for the team? Fill out the Advisor application form here.

    34m - Apr 26, 2024
  • 118 Advisor Story: When can a new advisor start charging for his advice?

    In this installment of our Advisor Stories series, Andy interviews advisor Tyler Morris. 

    Tyler peels back the curtain on his professional journey, revealing the pivotal moments and the lessons learned along the way.

    Here's a sneak peek of what they dove into:

    Transition Tales: Tyler opens up about his recent shift into the financial advisor role.

    The Nashville Effect: Discover how a training event in Nashville tuned Tyler's approach to his career and client relationships.

    Value Beyond Dollars: They tackled the tricky topic of charging for financial advice. Tyler shared his evolved mindset on recognizing the worth of his services and how he communicates this to clients.

    Advice for Advisors: Are you pondering whether to start charging for your time and ideas? Tyler's reflections and advice could be the nudge you need to make that decision.

    We’re confident that Tyler's experiences and insights will resonate with you, whether you're in the financial industry or simply interested in the art of value exchange. 

    Interested in working at Legacy Investment Planning? Fill out the Advisor application form here.

    19m - Apr 24, 2024
  • 117 Secrets to Crafting Compelling Financial Proposals

    In this episode, Sten and Andy explore the importance of creating a great planning proposal. It serves a critical role in setting and managing expectations in business by what you put into your financial planning proposal. 

    They discuss:

    Setting Expectations: The Heart of Client Satisfaction

    Clear expectations are the cornerstone of a happy client relationship. Ever had a misunderstanding with a client? We've all been there, and it's usually down to unclear expectations. They’re talking about avoiding that pitfall and ensuring your clients are on the same page from day one.

    Crafting the Perfect Proposal

    What goes into a proposal that not only informs but also impresses? It's not about bombarding clients with data but about crafting a document that's as clear as it is compelling. Sten has some practical tips straight from the conversation that will help you revamp your proposals to make every page count.

    Look and Feel Matter

    Never underestimate the power of a well-designed proposal. Sten shares his insights on creating a visually appealing document that aligns with your brand and sets the stage for a great client experience.

    Focus Without the Fluff

    They also touch on the art of being thorough without overwhelming your clients. Sten's approach? A robust deep dive into each category without letting clients get bogged down in the minutiae. It's about guiding them, not giving them a menu to order from.

    Realistic Timelines

    Setting realistic timelines is crucial, and they discuss how to communicate the intensity and duration of the engagement right off the bat. It's about managing expectations and creating a process-driven experience that clients can trust.

    Balancing Compliance and Communication

    Lastly, they tackle the tricky balance between meeting compliance requirements and maintaining clear communication. The goal? To separate the onboarding paperwork from the expectation-setting process to ensure clients know exactly what they're signing up for.

    Get six free training videos and a dozen free planning resources at GoBeElite.com.

    23m - Apr 19, 2024
  • 116 What did you expect? Why expectations are important

    Sten and Andy dive into the critical role of setting and managing expectations in business, particularly in client relationships.

    They discuss the consequences of unmet expectations, such as negative client feedback and job dissatisfaction, and the common issue of failing to verbalize expectations, which can lead to misunderstandings. 

    Through practical examples, they advise on asking open-ended questions to uncover unspoken expectations and stress the importance of clear communication to align with clients.

    They also touch on the financial advisory industry, suggesting visual tools to clarify service models and the necessity for advisors to proactively manage expectations to avoid resentment and ensure business success.

    They wrap up with a call for an "expectation audit" within businesses and teams to enhance client satisfaction and relationship outcomes.

    Get six free training videos and a dozen free planning resources at GoBeElite.com.

    26m - Apr 12, 2024
  • 115 Advisor Stories: Lifestyle practice with Chloe Moore

    Host Andy Traub talks with financial advisor and founder of Financial Staples, Chloe Moore. She shares her insights on connecting with clients, particularly those from minority groups, and her expertise in equity compensation. 

    She discusses her approach to asking reflective questions to guide clients towards better financial decisions and the importance of building a network of professionals, including CPAs and estate planning attorneys, to support clients' diverse needs. 

    The conversation explores the concept of a lifestyle practice, where Chloe aims to balance her business with her ideal life, emphasizing work satisfaction over maximizing income. She advocates for aligning one's core values with career decisions and the possibility of making changes for personal happiness and fulfillment.

    Connect with Chloe:

    Website: financialstaples.com

    Linkedin: linkedin.com/in/chloemoore/

    Twitter: twitter.com/finstaples  

    Instagram: instagram.com/financialstaples/

    Get six free training videos and a dozen free planning resources at GoBeElite.com.

    34m - Apr 10, 2024
Audio Player Image
Becoming An Elite Financial Advisor With Sten Morgan