SRG Off Script

In this episode, David discusses strategies to keep top talent in the financial advisory industry and protect client relationships. He emphasizes the importance of creating a happy, healthy work culture and providing career tracks and mentorship opportunities. David also explores the use of equity-sharing programs to incentivize employees and build a sense of ownership. On the topic of protecting client relationships, he suggests focusing on the client experience and institutionalizing relationships within the firm. He advises against relying solely on restrictive covenants and instead recommends implementing buyout terms in case an advisor leaves with clients. David also highlights the importance of understanding broker protocol and the enforceability of restrictive covenants.

In this episode, David Grau discusses the importance of death and disability planning for independent advisors and small business owners. He emphasizes the need to separate succession planning from contingency planning and suggests dividing and conquering these two subjects. Grau explains the different agreements and funding mechanisms that can be used in death and disability planning, including life insurance, promissory notes, and revenue sharing. He also highlights the key considerations in setting the price, determining the triggers, and addressing tax implications. Grau concludes by emphasizing the importance of post-agreement best practices and practical elements in implementing the plan.

Finding talent can be hard. But you don’t always need to find it, with the right approach you can develop it within anybody. This episode is a continuation of David Grau Jr.’s conversation with  Ray Sclafani, Founder and CEO at ClientWise, LLC. Join them as they’re dedicated to uncovering the secrets behind flourishing financial advisory firms as they explore the synergy of digital marketing, the power of client referrals, and the benefits of strategic partnerships. Ray’s knowledge in talent development shines as he discusses innovative onboarding and training strategies, that ensure new hires evolve into valuable assets. Buckle up for a knowledge-filled discussion on the complexities of talent acquisition and team building to ultimately create a robust and dynamic workforce. Listen as Ray discusses:  Sustainable growth strategies for financial advisory firms Digital marketing, AI, and client advocates Talent acquisition and onboarding And more Resources: Strategies for Building Enduring Wealth Advisory Firms With Ray Sclafani Part 1 (Ep.19) Measure What Matters by John Doer The Newsroom – Prime Video Connect with David Grau Jr.: Succession Resource Group LinkedIn: David Grau Jr, MBA  david.graujr@successionresourcegroup.com  Connect with Ray Sclafani:  LinkedIn: Ray Sclafani Clientwise.com 800-732-0876 About Ray Sclafani:  Ray Sclafani is the founder and CEO of ClientWise, which provides elite coaching programs and consulting exclusively for the financial services industry. Ray’s passion for serving leaders, advisors, and companies in the financial services sector is reflected in ClientWise, its unique coaching programs, and its team of credentialed coaches. Ray’s experience as a coaching and consulting specialist in the financial sector mirrors his long and profitable history in the industry.  As a complement to his coaching skills, he holds a Master’s Certification in Neuro-Linguistics from the International Association for Neuro-Linguistic Programming and has participated in The Strategic Coach® Program for 17 years. Ray’s expertise as a coach and trainer is recognized and sought out by leaders within the profession. Through ClientWise, he has provided coaching or created and presented workshops for, among others, Merrill Lynch, Morgan Stanley Wealth Management, LPL, Raymond James Financial, Ameriprise, and Northwestern Mutual. In addition, he has spoken on request to major industry conferences and company events for firms such as Merrill Lynch for their Diversity & Training programs, LPL, Morgan Stanley Institutes Conferences, Raymond James, FSC Securities, as well as the FPA National Conference, John Hancock Funds Wholesaler Conference, Nationwide Financial Summit Sales Conference, MetLife Presidents’ Conference, Northwestern Mutual Forum, Northwestern Mutual Annual Meeting, Barron’s Winner’s Circle Summit, and Barron’s Top Advisory Teams Summit. He has been interviewed and quoted in the Wall Street Journal, Financial Planning magazine, and Registered Rep, to name a few. Ray’s book, “You’ve Been Framed: How to Reframe Your Wealth Management Business and Renew Client Relationships,” was published by Wiley in 2015.

The wealth advisory landscape is rapidly evolving, which brings the challenge of building firms that not only survive but thrive through transitions and market fluctuations. In this enlightening insta

Do you ever look at some of the industry’s most successful advisory firms and wonder, “Where are they finding top talent?” After looking under the hood, guess what we found? They don’t find top talent. They build it! Get ready to adapt to a new paradigm of talent management, as David Grau Jr. encourages listeners to rethink how they mentor, train, and compensate the next generation of talent. You will discover a systematic and scalable approach to cultivating talent and building a seamless succession plan. Key Discussion Points: How compensation and recruiting have evolved over the past 20 years Building an integrated team and what it means to hire “hunters” vs. “farmers” The uncomfortable, but incredibly rewarding, transition from advisor to CEO The BBP (base, bonus, profits) compensation model that is relevant today An actionable plan to nurture new interns into your most trusted advisors And much more! Connect with David Grau Jr.: Succession Resource Group LinkedIn: David Grau Jr, MBA  david.graujr@successionresourcegroup.com 

Many Advisors dedicate their lives to building their companies. But what happens after they exit their business? The transition can be fraught with unexpected emotional challenges that are often overlooked! Get ready to address the “founder’s exit paradox” with David Grau Jr. and guest Jerome Myers, founder of DreamCatchers and The Myers Development Group. They shed light on the difficulties that come with stepping away from a business you’ve poured your heart into and how to navigate the journey toward a fulfilling post-exit life. Key Discussion Points: Jerome’s story of exiting Corporate America What is the “founder’s exit paradox” and how does it affect business owners Why it’s normal to feel empty or lost after a business exit Six centers of doubt that every business owner may experience after selling a business The N.E.X.T. formula to find purpose post-exit Proactive measures to seamlessly navigate the different stages of exit And much more! Resources: Dreamcatchers Podcast “Your N.E.X.T.?: Finding Fulfillment After Your Exit” by Jerome Myers Connect with David Grau Jr.: Succession Resource Group LinkedIn: David Grau Jr, MBA  david.graujr@successionresourcegroup.com  Connect with Jerome Myers: LinkedIn: Jerome Myers Jerome Myers Website The Exit Paradox About Our Guest: Jerome Myers aka “J” is a developer of people and places. He is the founder and Chief Inspiration Officer of DreamCatchers and The Myers Development Group. Through these entities, he gets to live out his childhood dreams of helping people manifest the things they imagine and create social proof that dreams should be real. Since leaving corporate America after building a 20MM division at a Fortune 550 company, J has become one of the most sought-after thought leaders in the multifamily development space. His company, The Myers Development Group, built a multi-million-dollar portfolio following the principles of Myers Methods. Unlike other coaching programs, they will go beyond strategy, assessments, and encouragement. Jerome pioneered Holistic Transformational Life Coaching more than 15 years ago. Up until about two years ago, it was only used with his closest friends and family. They repeatedly urged him to share his techniques with others and laid the foundation for introducing his methods to the world.

Whether it’s M&A or succession planning, a critical challenge advisors face is navigating the lending process for equity purchases. It’s not just about the access to capital, but also the intricacies of the deal structure! Recognizing this struggle, David Grau Jr. sits down with Dustin Mangone and Aaron Racino from PPC Loan to simplify advisor financing. They highlight the current state of M&A and share insights into securing loans and finding a deal that aligns with your business goals. Key Discussion Points: PPC Loan’s 10+ years of experience serving the advisory lending space How PPC Loan differs from a traditional bank loan What loan solutions may look like for an internal succession to the next-gen How to evaluate loan terms beyond interest rates (i.e., understanding the “fine print”) Factors that can make or break a deal in the eyes of lenders 2024 outlook for M&A trends And much more! Connect with PPC Loan: PPC Loan Connect with Dustin Mangone: LinkedIn: Dustin Mangone Connect with Aaron Racino: LinkedIn: Aaron Racino Connect with David Grau Jr.: Succession Resource Group LinkedIn: David Grau Jr, MBA  david.graujr@successionresourcegroup.com  About Our Guests: Dustin Mangone, as the Managing Partner and Director of the Investment Advisor Program, spends 100% of his time focused on the acquisition financing needs of investment advisors nationwide. With over 14 years of experience as a cash-flow lender, Dustin has evaluated and underwritten more than $500 million in funded loans supporting hundreds of business owners across the country who are looking to grow their business by way of acquisition. From the initial phone call to the funding of your loan, Dustin takes a hands-on approach to make sure your needs are properly met throughout the entire process. Aaron Racino, during his time with PPC LOAN, has worked with hundreds of current and aspiring small business owners to accommodate their various business financing needs. He relies on his experience to help his clients through not only the lending process but also offers his insight and advice to clients who might be navigating an acquisition for the first time. With a background in sales, Aaron truly knows the importance of tailoring products to suit the needs of his customers and takes a hands-on approach to ensure an enjoyable experience from underwriting throughout the life of the loan.

Ever wondered how top financial firms plan for the future? Discover the secrets of scaling your financial advisory business in this engaging episode of SRG Off Script. Host David Grau Jr. and guest expert Caleb Brown, co-founder of New Planner Recruiting, dive into effective succession planning strategies for independent advisors. Key Discussion Points: The pitfalls of succession planning  Understanding the evolving roles in advisory firms Navigating the challenges of recruitment and compensation in financial advisory The evolution of a CEO’s role in financial advisory firms Viability and efficiency of smaller, lifestyle practices Emphasizing salary-based compensation models with growth opportunities The balance between investing in employee development and managing turnover risks And much more! Resources: LinkedIn: Caleb Brown, MBA, CFP® NewPlannerRecruiting.com New Planner Podcast Book: Finding Your Path: The Roadmap from Student to Successful Financial Planner Book: Successful Hiring for Financial Planners: The Human Capital Advantage Jocko Willink Video: Good Connect with David Grau Jr.: Succession Resource Group LinkedIn: David Grau Jr, MBA  david.graujr@successionresourcegroup.com  About Caleb Brown:  Caleb Brown is a renowned expert in the financial planning sector, specializing in connecting emerging financial planners with growth-oriented firms across the USA. As a CERTIFIED FINANCIAL PLANNER and a Kolbe Certified Consultant, he plays a pivotal role in mentoring and integrating new talents into the industry. Caleb is recognized for creating the FPA Career Day program and actively contributes to the financial planning community as a member of the FPA New Professionals Advisory Council and Chairman of NexGen. His experience includes over five years in an RIA firm and he’s been acknowledged as the Next Generation Influencer by Financial Planning magazine.

Ever wondered how CRM can redefine your advisory firm? Join us on SRG Off Script, where Rick Williamson, Director of Brand Experience at Redtail/Orion Advisor Technology, brings his dynamic personality and industry expertise to explore the transformative role of Customer Relationship Management (CRM) systems in enhancing advisory business value. Key Discussion Points: The Impact of CRM Systems: Explore how CRM systems can transform business efficiency, profitability, and client relationships in the financial advisory sector Effective CRM Usage for Client Relationships: Understand the crucial need for not only possessing a CRM system but also leveraging it effectively to forge strong, personalized client relationships – a key to business success Standardization in Business Processes: Discover the importance of having consistent processes, especially in client onboarding and interactions, to boost efficiency and enhance client experiences CRM’s Role in Compliance and Risk Management: Learn about how CRM systems like Redtail are instrumental in supporting compliance and mitigating risks, vital for preserving the integrity and value of financial advisory businesses Proactive CRM Application: Gain insights into adopting a proactive approach in using CRM systems to amplify client engagement, streamline operations, and drive a firm’s success and client satisfaction And much more! Resources: LinkedIn: Rick Williamson X: RickyRedtail Connect with David Grau Jr.: Succession Resource Group LinkedIn: David Grau Jr, MBA  david.graujr@successionresourcegroup.com  About Rick Williamson:  Rick Williamson, better known as Ricky Redtail, is proud to celebrate his 10th year at Redtail, where his role of Director of Training allows him to lead, as well as oversee, all training and education resources, presentations, and content. With a background peppered with stints in film production, public speaking, and working at Walt Disney World, Rick has been able to make a significant impact at both Redtail and in the FinTech industry. His experience in numerous Marketing, Media, Training, and Presentation projects makes him an exciting and entertaining voice in FinTech and Practice Management.

Want to know what sets successful businesses apart?  Join us in the latest SRG Off Script episode, where Julia Sexton, Director of Strategic Organizational Planning at Succession Resource Group, unravels the complexities of strategic organizational planning. David and Julia’s conversations offer invaluable insights for independent advisors aiming to boost their business value, growth, and sustainability. Key Highlights: Discover how nurturing talent fuels business expansion Dive into the secrets of effective compensation plans that drive success Uncover how the right mix of incentives can keep top talent thriving Find out how intangible rewards can drive real business impact Explore innovative strategies for employee motivation and engagement Learn how smart vesting aligns with company growth and employee loyalty Discover the transformative potential of equity plans in shaping business futures And much more!   Connect with David Grau Jr.: Succession Resource Group LinkedIn: David Grau Jr, MBA  david.graujr@successionresourcegroup.com  Connect with Julia Sexton: LinkedIn: Julia Sexton (Sullivan), CVA About Julia Sexton:  Julia, SRG’s Director of Strategic Organizational Planning since 2023, specializes in guiding clients toward long-term success through tailored contingency and employment programs. With a comprehensive approach, she crafts individualized employee and owner compensation plans, structures equity rewards for sustained business goals, and supports growth initiatives through entity formation and M&A. Drawing on 5 years of experience as a certified business appraiser, Julia has completed over 2,000 valuations and facilitated 200+ successful mergers. Holding a CVA designation and a Bachelor of Science in Business Administration from the University of New Hampshire, Julia is a member of NACVA. Based in Providence, Rhode Island, she enjoys outdoor activities with her husband and golden retriever, engaging in competitive CrossFit, and unwinding on the beach with a good book.