Grow Their Wealth

Episode Five: Philip Setter

Founder and CEO of Business Critical and Advisor Institute, Philip Setter, sits down today to talk about his personal and professional journey. From his humble beginnings in the financial services industry, trying to start a lawn painting business, through many highs and lows, mistakes and surprising learning opportunities, he entertains us with stories about how he came to start his Business Critical seminars and founded the Advisor Institute. 

In hilarious detail, he shares how, throughout his career path as an advisor, he discovered all the gaps in his knowledge and set out to learn as much as he could to best help his business owner clients. He then realized how his ability to boil down complex information and his extensive knowledge of the field could be used to help other advisors like himself be more successful. Thus, his CCIP curriculum was born! It has helped meet the needs of so many of his peers who are grappling to meet the unique and complex needs of business owners. 

Philip shares the many pivots he’s had to make with the covid pandemic’s disruptions to typical marketing strategies, and talks about exciting upcoming projects in the works.

 

Episode Highlights

1:15: The biggest business flop, big mistakes and quitting the cushiest job ever

12:20: Intro to insurance, finding a niche, how massage therapists made me give up

18:40: Everyone cares about tax, figuring out it’s all about business owners, why my seminars were bad

25:00: The ‘Aha moment’, a shameless plug for my curriculum, why information matters

27:00: The uphill battle to prove my credibility, how accountants made me better at my job, the best way to learn is to teach

32:00: How I got started marketing my seminars, my networking secret, how covid made me pivot (again)

41:00: Post-covid marketing, building a better long-term system, why charging changes everything

55:00: The switch to Insurance Advisors, the 12-part plan with no content, filling a niche

59:00: Launching CCIP, getting into the big leagues, the 2021 revamp.

1:03:00: The CCIP explosion, accreditation, why you need to know everything about insurance to work with business owners   

Episode Four: Dave Faulkner

Host Shyam Ganesh speaks with Dave Faulkner, Founder of financial planning software tools FP Solutions and RazorPlan, and author of his latest book “Organize Your Wealth”. They speak passionately about what Financial Organization is, why it’s difficult to provide financial advice when a client isn’t organized, and what the role of a financial advisor is and can be in helping clients get there.

Episode Highlights

0:29: Shyam greets Dave Faulkner on this episode of “Grow Their Wealth”

3:33: Dave Faulkner discusses writing his book Organize Your Wealth

9:01: Eliminating friction as a financial advisor by instituting the use of a checklist when meeting new clients

19:50: The two discuss the concept of charging fees when taking on clients with debt load

31:35: Faulkner explores the ‘rush to revenue’ phenomenon and how this strategy hurts Financial Advisors over the long run

37:31: Case study of a high-income, high-asset client and the one important question Faulkner failed to ask at a first encounter meeting

45:00: Empowering clients to keep a personal financial minute-book and the effects of organization

51:25: Creating loyal clients through honest and open communication for Financial Advisors

 

The Essentials

• Organize Your Wealth by Dave Faulkner (https://www.amazon.ca/ORGANIZE-Your-Wealth-how-personal/dp/1698871171)
• Nest Wealth (https://www.nestwealth.com/)
• RazorPlan (https://razorplan.com/)

    

Episode Three: Jason Watt

Host Shyam Ganesh speaks with Jason Watt, instructor and former co-owner of Business Career College. They discuss how his 14-year career in the Canadian Armed Forces, including 3 tours in Bosnia, as well as a desire to transition back to civilian life to be there for his family, led him to a career in financial planning education. Jason shares tips on leveraging technology to help convey complex ideas more simply, as well as his challenges and learnings from operating a business co-owned by family.

Episode Highlights

1:26: Shyam welcomes his long-time friend Jason Watt to the pod
5:10: Jason talks about licensure for Insurance Agents and LAQP
9:17: Jason discusses his military experiences and his beginnings in the Canadian Army
15:42: Jason expands upon his experiences in being stationed in Bosnia
21:42: Discussing Watt’s role in the training and development fields in Simic post-tour
29:02: Transitioning to the family business and Business Career College (BCC)
35:08: Touching on business succession and selling BCC
38:43: Jason reviews the digital transformation of BCC and its evolution since his tenure
41:07: Methodologies for learning and the psychological science behind classroom teaching
47:00: Using contemporary teaching tools to improve client engagement
51:00: Choosing the right educational path to achieve your professional goals

The Essentials

• LLQP - Life License Qualification Program: https://www.fsrao.ca/licensing/life-and-accident-sickness-agent/life-licence-qualification-program-llqp
• Business Career College: https://www.businesscareercollege.com/llqp
• MindMeister: https://www.mindmeister.com/mm/signup/basic
• Loom: https://www.loom.com/   

Episode Two: Marc Sherman

In Episode 2, host Shyam Ganesh speaks with Marc Sherman, Founder of the Plan Pros. They discuss how his experience running a tutoring business and networking in his community looking for other business opportunities, led him to a career in financial planning. He tells us how he rebuilt an agency’s entire financial planning process, how that led him to a role doing financial planning quality review for a Big 5 bank, and why he leverages the thousands of plans he has seen and reviewed to now support financial advisors in not only creating financial plans for their clients but also learn the process of delivering them in a way that makes for a great client experience.

Episode Highlights

0:50: Shyam greets Marc Sherman to the Pod and discusses the circumstantial ways he fell into FP work
4:39: Initial resistance to obtaining IIROC license
8:01: How science and education informs Marc's advisor practice
11:30 Education and coaching to inform the advisor hand-off process
16:00: Talking about hard decisions with your clients
25:24: The effects of succession in business 
31:41: 'Plan Failure', review and evaluation practices in advisor plans by Risk Management
38:54: Marc develops his project and submits it to the IPC
46:09: Beginning a journey with PlanPro
49:02: Engaging existing clients and a robust process to onboard new prospects    

Episode One: Julia Chung

On our first ever Episode, Shyam speaks with Julia Chung - CEO of Spring Financial Planning and Co-Founder of Admin Slayer. We talk about her 25-year journey into and within financial planning and what led her to create a solution for the administrative burden faced by every advisory organization. Julia shares her insights on how and why she got into complex financial planning on a fee-only basis, how she successfully collaborates with her Co-Founders and Partners in both her companies, how to build a strong company culture when the team starts to grow, and how strategic marketing can elevate your brand and make you stand out from the crowd.

 

Episode Highlights:

1:12 - Getting started in financial planning, and creating the right questions to help your clients achieve their goals.

 

16:57 - Target marketing, entrepreneurship, starting a new venture, and filling a need in the market.

35:13 - Business relationships & values, collaboration and responsibility.