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Ep. 24: Leo Pusateri: Delivering “Real” Value to Help Power Business Growth
29 Plays19 days ago
While competition, technology, and the marketplace have changed over the years, some core elements of business growth ─ like telling your story ─ never seem to go out of style.
But even successful advisors still “wing it” when articulating their value rather than mastering the ability to tell their story effectively, according to Leo Pusateri, President and Owner of Pusateri Consulting.
In this episode of the Synergize podcast, Pusateri joins hosts Bill Coppel, Chief Client Growth Officer at TradePMR, and Ryan Neal, Senior Editor at TradePMR, to explore how RIAs can define, refine, and execute their value as they strive to achieve sustainable business growth.
Listen as they explore:
Seven time-tested questions that can help advisors discover, articulate, and capitalize on their unique value
How a deliberate approach to articulating value may yield better results than “winging” it
Why advisors may want to call a timeout to learn what clients really think about the value they’re providing
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Get the transcript for this episode, with sources, at https://synergizepodcast.com/.
About Leo Pusateri:
Leo is President and Owner of Pusateri Consulting, a firm that helps financial professionals discover, articulate, and capitalize on their unique value.
He is the author of several books including You Are the Value and Mirror Mirror on the Wall Am I the Most Valued of Them All?
Leo Pusateri and Pusateri Consulting are not affiliates of TradePMR.
More About Leo:
LinkedIn: https://www.linkedin.com/in/leopusateri/
Website: https://pusatericonsulting.com/our-team/leo-pusateri/
If you want to join the conversation or connect with us, please visit us at synergizepodcast.com. This content is provided for general information purposes only. The views expressed by non-affiliated guest speakers are their own and do not necessarily reflect the opinion of TradePMR or its affiliates. TradePMR and its affiliates do not endorse any guest speakers or their companies and therefore give no assurances as to the quality of their products and services. This channel is not monitored by TradePMR. TradePMR does not provide investment advice, tax advice or legal advice. TradePMR is a member of FINRA and SIPC. TradePMR, Inc. is registered with the Securities and Exchange Commission {SEC) and the Municipal Securities Rulemaking Board (MSRB). TradePMR provides brokerage and account services to registered investment advisors. Custodial services provided by First Clearing. First Clearing is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker dealer and non-bank affiliate of Wells Fargo & Company. Copyright 2025. TradePMR, Inc. For a transcript of this episode with sources, visit synergizepodcast.com.
Trade-PMR, Inc. is a subsidiary of Robinhood Markets, Inc.
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Transcript
Introduction to Synergize Podcast
00:00:02
Speaker
Welcome to Synergize, unscripted conversations where we explore the evolving role of the financial advisor in an emerging AI-driven world. Join us as we bring together thought leaders across a range of disciplines and industry experts, sharing insights designed to help RIAs thrive in the industry of tomorrow.
00:00:26
Speaker
Hi, I'm Bill Capelle, Chief Client Growth Officer at Trade PMR, ah Robin Hood company. And I'm Ryan Neal, Senior Editor at TradePMR slash Robinhood, and you are listening to the Synergize Podcast.
Evolving Financial Industry and Timeless Growth Principles
00:00:40
Speaker
You know, Ryan, we've talked a lot on this podcast about how the industry is changing, how clients are changing, and what this may mean for RIAs in business today.
00:00:51
Speaker
But also today, we want to explore some of the principles that have remained relatively constant over the years that can contribute to sustainable business growth. Right, Bill, you know, as as you hear, the classics, they never get old, right?
00:01:06
Speaker
Things like competition, technology, the marketplace, podcasts, et cetera, et cetera, all that stuff has changed. um But some of those core elements of growth and and what it takes to succeed in this business, those never go out of style.
The Art of Storytelling for Financial Advisors
00:01:21
Speaker
That's right. For financial advisors, one of those core growth elements is the ability to tell their story effectively as a way to demonstrate their value. It's not breakthrough thinking.
00:01:32
Speaker
It's not a new idea, but it can be really hard to do. And because it requires skill and effort, we have a lot of average advisors. But advisors that are exceeding client expectations and achieving significant growth are the ones that have mastered that ability.
Defining Value with Leo Pusiteri
00:01:49
Speaker
Our guest today, Leo Pusiteri, is here to help us explore how ah RIAs can define, refine, and execute their value as a way to achieve sustainable business growth.
00:02:02
Speaker
They want to what the real value is. I always raise my voice with the word real value. It's not a proposition, but the end game of this is to elevate your confidence and find more passion and speed in answering important questions when they challenge you.
00:02:19
Speaker
And to eradicate the number one disease I've seen in my three decades plus in this business called winging it.
00:02:28
Speaker
Leo is president and owner of Pusateri Consulting, a firm that helps financial professionals discover, articulate, and capitalize on their unique value. To learn more about Leo's background and experience, please refer to our show notes.
00:02:43
Speaker
Leo, thanks for joining us. Thank you, Bill. Thank you, Ryan. I'm looking forward to talking to you guys. Well, Leo, let me start here. You've been providing guidance to advisors globally for more than 30 years.
Understanding the 'Value Ladder'
00:02:55
Speaker
As part of your work, you've developed a process. You call that the value ladder. Tell us a little bit about what that is and how it works. You're aging me here now, Bill. Come on you're aging me here.
00:03:08
Speaker
the The value ladder represents a very unique model of introspection. it's It's designed to help you to determine your compelling story of value to your clients and asking you questions like, is is this really clear?
00:03:26
Speaker
is it memorable? Am I getting a nod when I talk into these prospects or existing clients or family members or centers of influence? And it really is comprised, Bill, of seven key questions that are stunningly simple They are remarkably elegant, but deceptively difficult to answer. And when you think of these seven questions, who are you?
00:03:53
Speaker
First question. Second question, what do you do? Third question, why do you do what you do? Fourth question, how do you do what you do? The fifth question, who have you done this for? The sixth question, what makes you different?
00:04:08
Speaker
In the seventh question, me in the eye and net it out. Why should I do business with you? And for each one of those questions, Bill, there is what we call strategic rationale. So when people ask you, like, who are you in one way, shape, or form, tell me about your background.
00:04:27
Speaker
When they ask you, what do you do? They want to know about your value proposition and what makes it unique. When they ask you, why do you do what you want to do? you know why Why you do what you do? They want to know what your business beliefs are.
00:04:38
Speaker
When they ask you how, they wanna know what your process is. When they repeat the who, the what, and the why, they wanna know about your clients. They wanna know what makes you different ah from a company perspective, the solutions or strategies, and what you and your team stand for.
00:04:52
Speaker
And ultimately, why should i do business with you? They wanna know what the real value is. the Bill, i always raise my voice with the word real value. It's not a proposition, but real. We can talk more about that. But the end game of this, Bill,
00:05:07
Speaker
is to is to elevate your confidence and find more passion and speed in answering important questions when they challenge you ah to do this and to eradicate the number one disease I've seen in my three decades plus in this business called winging it.
00:05:24
Speaker
So if we can help people to get the nod, we can help them to win. We can win more wealth management mandates through this. So answer those questions, Bill. Time tested, true.
00:05:35
Speaker
Who are you? What do you do? Why do you do it? How do you do it Who have you done it for? What makes you different? Why should I do business with you? That's the value ladder. And to your point, it's not an inquisition, if you will. This has to be woven into a tale or a story to expose that.
00:05:51
Speaker
It's a consultative model. You never teach anybody, Bill, to say, geez, I'm sorry, I can't answer that question right now because I'm only in the second question right here. i'm going to tell you the rest of my story as we tell people to use your common sense.
00:06:07
Speaker
It's like a file drawer where you've got seven file drawers and you can open up any one of them on call on demand, like having a remote control moving from yeah ESPN to a news channel or something.
00:06:18
Speaker
Same thing with your story. But if you got it done, Bill. that then it raises the level of ah giving you the smile in your stomach like you can answer any of these questions when they come up in the midst of a consultative dialogue, asking clients and prospects about their needs and their goals and their vision. And where appropriate, you open up those file drawers and you have black belt, Navy SEAL, world-class Olympian answers when you're ready to deliver them.
Continuous Improvement and Innovation
00:06:47
Speaker
Well, so what I wanted to ask you about is, you know, you've been doing this for a while, as as you mentioned, um and a lot of these principles and questions have have held true through those years, but the world has changed. So I guess what I'm curious about is, have the way that advisors have answered your questions, has that changed at all in your time? Or has anything else evolved, even if these these principles and the and this core ladder stayed the same?
00:07:14
Speaker
It's interesting, Ryan. I would answer that to say sometimes yes, sometimes no. Depends on the advisor, their practice, their team, their level of success. You would hope so.
00:07:26
Speaker
That as the markets and the world is evolving, that they continue to e evolve to the next elevation of their capabilities, right? My answers continue to evolve. I mean, I like to be a role model for this. I teach it.
00:07:40
Speaker
But there are a lot of people, folks, that if it ain't broke, I'm not going to fix anything. I'm not change anything. Rather than if it ain't broke, my mentality is break it.
00:07:51
Speaker
Break it. It's more of a continuous improvement, more the old Kaizen mentality to do this. and And so I'm all about innovation. I'm all about invigorating people. I'm all about doing my best to inspire people so they can inspire others, to invest in themselves.
00:08:09
Speaker
ah One of the programs I did for one of the companies in North America was disrupt yourself. Things are evolving. You should be evolving. disrupt, disrupt yourself. I mean, how many times can I say it like this? Be more curious, figure out a way to differentiate yourself each day or to make a difference, beginning with you to live a life with significance. So you can eventually, you know, take that same level of thinking to make a difference in someone else's life. But the evolution starts with you. You have to look in the mirror every day because that's the biggest competitor you're going to run into every day as yourself.
00:08:46
Speaker
So, yeah, you you you should evolve. Unfortunately, some people still got their their feet in some degree of concrete because they've been successful. They've ridden out some good markets. They've developed a good practice and they're a level to say, you know, things I'm just not going to change everything. And um that's just the way the world is these days. I like to work with people that say, listen, I'm already pretty good.
00:09:10
Speaker
um Tell you the truth, I'm great. You know, I'm a chairman's club advisor at my firm. or I'm one of the top IRAs in the United States, let's say. But I know I'm not my best. I know there's room to grow. I i know, Leo, you can finger point me, Leo, and I won't be I won't take it as a negative because I want to get better.
00:09:28
Speaker
Unfortunately, I just think Bill and Ryan, those are becoming more the minority. to some people, as Bill and I have talked about this over the years, that some folks, some IRAs have become proud and plateaued. I know there's so many out there that want to grow, that want to embrace you know the the evolution in the markets and the world and things like this, and where their role is to provide even more value, to become extraordinary to their clients, to become indispensable.
00:09:54
Speaker
They've got to disrupt themselves, Ryan. They've got to continue to invest and see what they can do to elevate their game as well. I love to hang with but people like that. Those are the people I want to coach. Leo, want to stay with that um that thought for a moment.
00:10:07
Speaker
And as you mentioned, or I mentioned at the top, you've been doing this for a while, and many of our listeners have been in the business for quite some time. ah Can you share an example of how, say, attitudes or efforts or outcome you've observed might be different today, say, than maybe 15 years ago?
00:10:29
Speaker
Well, Bill, I've got so many things in my file drawer here of folks I've worked with. organizations, institutions, teams, individual advisor practices, you know IRAs, you name it, private banks, family offices.
00:10:43
Speaker
You know what's funny? When you rewind the clock, Bill ryan and just think about how we used to do things from binders to workbooks to digital right now to the in the inclusion of artificial intelligence from in person to zooms to building their teams to growing their businesses from investment management to embracing wealth to do this.
00:11:05
Speaker
The attitudes bill to me are the people that are really open to learning it it's lifetime quest. they've They've still got their footbill on the pedal of of individual growth. that's That's an attitude like I can go, as Leo said, from good to great to extraordinary to becoming my best.
00:11:23
Speaker
All right. People already get goosebumps in my presence, but I still have got room to grow. So attitudinally, you have to ask yourself as an IRA, for instance, is there still movement for me to grow? Yeah.
00:11:36
Speaker
who Who couldn't honestly say that they can, there' there's still another notch in their belt that we can get better in terms of efforts. um You know, they have to put the time in for coaching.
00:11:48
Speaker
And many people over the years have hired coaches, been part of other institutional sponsored programs, have had value added programs from other people. But they still have to put the effort in to say, listen, I'm I'm time blocking this time out with myself and my team here.
00:12:04
Speaker
Just brought somebody into my IRA right now. and You know what? there We've got to elevate the learning here and the education to figure out how we can bring more value to clients, how how we can be better partners to these people.
00:12:16
Speaker
The outcomes bill. I mean, think about this, where people have measured success and say, yeah I've done really well. You've grown 10% or whatever. Well, the market may have grown 10%.
00:12:27
Speaker
what have What have you really done? I know your fees are up. I know your passive revenue's up. I know you're annuitizing more. but But what are you really doing? Because your clients, my friends, are changing.
00:12:38
Speaker
They're getting older. There's issues around longevity and health and housing and living scenarios and, you know, next chapter issues, second mountain, things that are but I'm i' mean embracing right now myself, wondering about the fourth quarter, second half, you dash two or dot two types of things.
00:12:58
Speaker
So, Bill, your question around attitudes, efforts, outcomes, we've we've got to keep our foot on the pedal to grow. We can't just put ourselves in neutral You know, we got to go from 30 mile an hour, 15 miles an hour to school zone to say there's opportunities, new clients.
00:13:15
Speaker
You know what? Those clients, they're still changing. They're getting older. They're getting wiser. They're still sophisticated. They got complexity in their life. They got competitive options. I got to keep getting better.
00:13:27
Speaker
there's There's more out there. I can do more. I've been i've been you and focused on these money management and investment themes when all these other themes relative to growing the the Maslow self-actualization in the wealth world.
00:13:42
Speaker
That we we need to achieve goals. We need to elevate to becoming more emotionally connected to people. We need to find out more about people's purpose and their mission. We need to find out more multi-generationally what the heck's going on with their families and things.
00:13:55
Speaker
We've got to get out of the the evolution, attitudinally, our efforts and outcomes. have got to go upward to get closer to clients than we've ever been before and deal with issues we've never talked about before.
00:14:09
Speaker
Because, hey, I got a million dollars or I got five or 10 million or 25 million or a hundred million dollars. And I don't really know them. is anywhere near what I should be knowing them at. We all know their other ah elements or their balance sheet. I just, I just, their investment partner. like a registered investment vendor. I'm not a real indispensable partner, although they value me.
00:14:31
Speaker
There's so many other areas to grow with these clients and help them to grow. And so those are things that I would stress with people to see where are
Reassessing Advisor-Client Relationships
00:14:39
Speaker
you right now? What can you do to take your game up to another notch and help, help people talk about you differently in ways that they haven't talked about you before.
00:14:47
Speaker
Well, yeah, and and I agree. I mean, what you're saying makes sense to me because it's not about an attitude or an effort or an outcome. They have to be present to be successful. I think the key that I'm hearing you say is that the ah the expectations and needs of clients have evolved.
00:15:04
Speaker
And the question you're asking is, how have you evolved? Have you kept pace with the changes and so forth? Exactly, Bill. That's right on the mark. Well, guess what I'm curious about though is, you know, you talked about early on, or earlier in the conversation about, you know, needing a plan and not winging it, um which, you know, I'm a proud fan of winging it, but doing it my whole life. It's, that's where it's my bread and butter.
00:15:25
Speaker
um But, you know, so advisors have a plan and they find something that works and they're growing and their business is successful and they're doing well. You want to keep doing stuff when you find what works, right?
00:15:37
Speaker
But then also, as you said, and and I agree with you, that the world's changing. You've got to evolve. You've got to you change with the world. So I guess, how do you find that balancing act of keep doing what's working while also changing?
00:15:49
Speaker
um How often should advisors revisit the question of you know what is their value? How often should they be adjusting this story in order to to keep with the times but not break what is working?
00:16:01
Speaker
Well, Ryan, you've got to hire me for yourself, I think, right away, because any self-described winger, let's say, someone, we Bill, you might want to write a check. I've got to help Ryan first before I answer this question here. I'll have some fun with him. Ryan, you remind me of a...
00:16:19
Speaker
Yeah, wait, wait, wait. Before we go there, Leo, I just have to say to my partner, Ryan, here on the show, um she his magic is his winging. So I don't want to, he's a creative guy. So we can't, I don't want to i don't want to clip his wings here. so You know what's funny?
00:16:37
Speaker
I got to let the guy... You know what's Bill and Ryan, there was a... ah One of my coaching clients and he's like Ryan, he said, Leo, I'm a winger. I'm a self-described winger. He says, I'm so good at it. I'm black belt at it.
00:16:50
Speaker
He said, that's how he described it. But Ryan, your question in terms of really revisiting. your story, your answers, the value that you're providing. it's It's no different than anybody, you know, developing their annual or their strategic business plan or doing things. and yeah i'm a I'm an entrepreneur like the folks we're talking to right here on this and this podcast and things.
00:17:13
Speaker
I would say minimally, Ryan, yearly is a start to be thinking about this. you know You know what's funny, Ryan, is that so many people... It almost feels to me like they're riding on the same bike or they're riding on the same horse for years, but they haven't changed their clothes.
00:17:29
Speaker
They haven't done anything about calling a timeout, revisiting. she's How have things changed? I've just brought on this new client or I've just brought on a family member of another client. I just added another center of influence. I've established a relationship with a really...
00:17:44
Speaker
you know, renowned accountant in the area a trust estate attorney. mike My business is evolving is one of the previous questions. I'm making some more inroads and things to do this. So there's there's a ah series of words that I would use, Ryan, to yearly to review your story.
00:18:02
Speaker
You know, the who, what, why, how, who, what, why answers to is it time to repaint? is no different than a house that that hasn't been attended to, a room in your house to say, you know what, there's a couple of marks here on the wall. And i can I can get better with this process answer.
00:18:18
Speaker
I thought we had real success with that $1, $10 million dollar client refer we got in from that accounting firm. And i learned this, that that made me think differently, that we need to establish that with somebody else. So reviewing to repainting to revamping to reinvigorating yourself first, your team in your clients as a result of this.
00:18:37
Speaker
And Ryan, the important thing is that is the focus to me on the real value. Again, I raised my voice there purposely real value, because when I ask people say, well, what do you do?
00:18:49
Speaker
What's your value proposition? and And I'll say to them, well, what makes that unique? And they'll they'll look at me like, you know, quizzically like confused. And I said, no, no, what what's your value proposition? Do you have one?
00:19:00
Speaker
Yeah, yeah, I got one. How many words are in it? I don't know. I never counted them. Why not? This should be like a tattoo around your neck, right, or around your heart, let's say. It should be able to just flow out of you. It should be part of your DNA, and like this imaginary tattoo that I would talk about.
00:19:16
Speaker
But that needs to become real. And so yearly, I want to know how we've really made and impact with the clients we've been privileged to serve, how we've really made a difference potentially in our partnership or in their lives to do this.
00:19:33
Speaker
Because the real value means that that proposition, Ryan, what I told you, and we're revisiting now yearly, guess what? You know what? I really have made a difference.
00:19:45
Speaker
I really have been influential to their life. I really have shaped their balance sheet in a different way, not just manage their money. Their kids know me now. We've had a meeting with their accountant or their trust estate attorney. We did something. We've really elevated the game of helping them to achieve their wealth goals.
00:20:01
Speaker
I'm not just this investment person. and I've done this. So why wouldn't you sit down and do an autopsy to a degree? um you know, to review your existing client base and to take a look to say, what, is there anything here that we're missing?
Strategies for Proving Value and Leadership
00:20:16
Speaker
What else can we be doing here that we haven't done? Oh, geez, we have success with this c client, but we haven't we haven't taken this level success to this client. Why not? So minimally, advisors need to work on their businesses on a regular basis.
00:20:32
Speaker
And what happens, Ryan, is that people get comfortable. And they say, hey, come on, you know, I'm starting a new year, Leo. i'll Get out of my face here. Stop finger pointing me. I'm going to do $2 million dollars of annuitized income this year, 5 million or 10 million, whatever the numbers are, plus to do this. I'm in good shape.
00:20:47
Speaker
And some people will take that time to invest yearly, have quarterly update meetings with their teams. Monthly pipeline reviews, weekly activities in terms of you know, when I come back in weekly, there should be some um systematic way of staying close to those yearly goals to monitor them and not just do them once a year.
00:21:10
Speaker
You know, Leo, that's it's an interesting point because we're, you know, from the standpoint of where we are in the industry right now, we're coming off of a decade-long market that has done nothing but for the most part gone up. We've got a whole generation of advisors that...
00:21:26
Speaker
um have seen their business grow because of the appreciation in the market. And i guess the question around that is, um have they lost that edge? Have they lost that desire to continue to grow? Have they somehow perhaps lost the sense of their purpose? Because as you pointed out, in a rising market with your AUM as an RIA, increasing your fees are going up.
00:21:55
Speaker
you really haven't done anything different, right? um Have you lost your sense of purpose along the way? So the question is, how can an advisor who finds himself perhaps in that kind of a situation reinvigorate to ah re-engage with or even discover that new purpose?
00:22:15
Speaker
Well, it obviously starts with them, Bill, looking in the mirror as we talked about. But I challenge a lot of advisors to say, do you really know your client's purpose? do Do you really know what are the most meaningful things in their life that they're trying to achieve?
00:22:31
Speaker
Because you've got, like I said, a million, 5 million, 10 million, 25 million, 100 million dollars of their assets. You've been privileged to potentially oversee the growth of those assets. But do you really, really know the things that are truly most important to them?
00:22:46
Speaker
And so built to that end, I always say you need to call a timeout. You need to get closer to them than you've ever been before. You need to find out how they really feel about you and how they really think about the value that you're providing them.
00:23:00
Speaker
You need to ask a series, Bill, is that you and I have talked about a series of, by my standards, seven different questions to find out why they hired you. Number one, to find out, number two, how they describe what you're really doing for them.
00:23:15
Speaker
To find out number three, what they really value the most about your work, Bill. To find out number four, how they describe the real value to others, the impact of your work into their family, to to whoever that you're involved in, in the oversight there.
00:23:28
Speaker
Five, you need to know if there's any other sensitivities and personally professionally affecting the achievement of their wealth goals. Six, you need to find out if there's anything else you can do to improve on the experience.
00:23:39
Speaker
And seven, you need to say say to somebody like Ryan, hey, Ryan, um let's let's say this is hypothetical, Ryan. You've been one of my valued clients for the last 10 years. And you know it's good to answer these questions. but But if I'm fortunate and privileged, Ryan, to continue to sit on the same side of the table with you, with you and your your wife or your kids down down the road here, how are you going to measure our success in the next decade?
00:24:03
Speaker
What are the things need to do to really elevate our game and our partnership that I don't ever want to take anything for granted because there's a lot more we can be doing. Even some discussion points we've never had a chance to really talk to you about.
00:24:14
Speaker
So the issue of purpose, Bill, is to get our hands around it more, to squeeze it a little bit differently. But understanding our own purpose of where we're going, aligning it to, do we really understand the client's purpose? source I know I just got some money. I'm charging them a fee.
00:24:32
Speaker
We get paid. give them a call twice a year. I meet with them once a year. Everything is fine. I leave. i got you I'm picking up another 10 grand, 25 grand. of fees. price You know what? i'm I'm just measuring this by the growth of my fees or my assets, but i don't I'm not really connected to them and their family. If I ask them five questions about their family, their kids, their passions, their indulgences, the things that ah put a joy but joy in their life, do I really understand all those?
00:25:02
Speaker
Or I've been so focused on the money that I've never gotten out of that money discussion, and I'm answering questions about the markets and and the geopolitical climate and tariffs today and things like this that I'm not really talking to them about purpose to do this. We're caught up in all these other discussions point when we're not really dealing with the most important one.
00:25:23
Speaker
And you know the point you made earlier around the value of these questions, two things I wanted to just share. One is that oftentimes the answers ah to those questions don't require you to ask the question. It requires you to listen for cues, right?
00:25:37
Speaker
Because people will explain and share things. The other thing I wanted to point out, and i think this is a real opportunity for advisors today, The question you raise around the client's aspirations, what matters to them most, that's a really hard question for people to answer.
00:25:53
Speaker
If in fact, they spend a few minutes thinking about this, and this is the value of an advisor to work through that process. Because the same way you ask the seven questions at the top of the conversation today, um they're very elegantly simple, but deceivingly difficult to answer. And I think the same goes when we begin to have these conversations with our clients.
00:26:16
Speaker
So, um you know, these are things I think that, and I want to make sure our audience understands a little bit about this process, because this isn't about having a list of seven questions in front of you.
00:26:28
Speaker
And as Leo mentioned early, this is about ah practice and refining. So it becomes a natural component of what you do and how you communicate. There is no magic bullet here, like you said before, right? This takes effort. This takes attitude.
00:26:43
Speaker
This takes a real commitment.
00:26:46
Speaker
Yeah. You know, Bill, before we get into the next question here, it's like a lot of very successful advisors, advisor or entrepreneurs that own IRA practices, for instance.
00:27:01
Speaker
A lot of them, when I'm talking to them, what you can tell they know their clients. My question is, do you really, really, really know your clients? You know, if you've gone beyond just the...
00:27:13
Speaker
so the The preliminary, the basic fundamental questions about the money and what's it going to be used for risk parameters and you know the old way that we used to put investment policy statements together 30 years ago right, but if you if you really opened up the zipper on a client's chest and reached in and touch the heart and soul.
00:27:35
Speaker
Have you really really elevated your game to say, I never knew that about you. I never knew that was something that was really on your mind. or I remember never knew that that was on your bucket list.
00:27:45
Speaker
I never knew that that was something. you And they don't know, Bill, because they've just never extended the discussions beyond just the money discussions. to do this. They haven't got into the deeper discussions about life, future, all these next chapter types of things that that I'm spending a lot of time on right now, helping advisors to get to get better at that at that technique and those skill sets.
00:28:08
Speaker
To wrap up our conversation, um what we'd like to do, Leo, is at the end of these podcasts, we have our guests sort of summarize like three things, like really actionable items that listeners can take with them and implement to sort of get on the right path and and take what we talked about today and put it into practice, right?
00:28:25
Speaker
So what are three things, I guess, that advisors could begin to adopt if they want to start refining their value and and capture new business and and do some of the stuff that you just shared? First and foremost, they need to know, number one, how to prove and quantify their value.
00:28:42
Speaker
This is a huge opportunity for the industry and for all these IRAs listening in, hopefully, that you can't just assert your value and say, this is what we do. You have to prove it.
00:28:58
Speaker
And by proving it and then elevating it to quantifying it, where people will start to point out and say things like, I didn't know you did that.
00:29:10
Speaker
Or I took for granted some of these other things you were doing. And what I'm finding in our coaching folks is that it's like a second disease. The first disease is no more winging it.
00:29:22
Speaker
The second disease is like, I didn't know you did that. And most of the time is because advisors themselves in In your previous question, Ryan, about me saying call timeout yearly is that they're taking things for granted. They haven't really done a value inventory of all the things they've done to bring value to their client base to do this.
00:29:42
Speaker
They haven't elevated to the point to really see, understand the balance sheet where one of my clients would say the balance sheet is truly the land of opportunity. to do this We're still caught up in this this investment discussion per se, but we never look at the other little things that we, hey, I kept somebody in the market during COVID, right? They wanted to pull their assets out.
00:30:03
Speaker
I helped to renegotiate a loan to do something. I helped in in decision regarding the funding for kids education. I did this or I did that or I did this. there's There's a lot of things that we determined the right time to assist them because I'm such a sounding board to them beyond money, brought in the accountant and myself to talk about selling that real estate, reinvesting it here, not just worrying about where, you know, the the more location of those assets, thinking differently is it is a real valued consultant, not just as a registered vendor to somebody. So number one, proving and quantifying your value. Number two, I would say is squeezing the heart.
00:30:50
Speaker
Squeezing the heart of people more, more so Stop selling. Stop selling. Leave some of that, as I say, candy, or we can do this, so we can do this. You know, they're looking for cues that they can drop this fund i idea, this alternative situation, something else that some other intermediary came into their office and wanted to present this.
00:31:11
Speaker
We can do this, we can do that. They're throwing candy at people like this. Stop it. Stop selling. Start squeezing more. Call timeouts. Find out how people really feel about you and the value that you provide.
00:31:25
Speaker
and This is important. I just got to call ah Bill Ryan just yesterday. I'm on the phone. One of my mentors back east, beautiful Buffalo, calls me. It's going to 80 years old the next couple months.
00:31:39
Speaker
he's He's looking for assistance on finding a new ah accountant. here's a Here's an individual worth millions of dollars. And the fundamental issue of someone who's dropped the ball, who's let things fall through the cracks, who hasn't, Brian, done that yearly to quarterly to so monthly to weekly type of you know, really taking hold of their practice and their pipeline and their coveted value clients.
00:32:09
Speaker
they've They've lost something that fell through the cracks. They haven't taken the time to really open up the zipper and squeeze someone's heart. Number two, ask those seven questions that i talked about. Number three, was thinking about this, Bill and Ryan, to end this podcast up.
00:32:25
Speaker
You know how many times we talk about great leaders that are out there. Who are the ones in the world? You know, I actually have a program. I talk about the challenge of lead, manage, and coach. And who are some of the greatest leaders you really admire?
00:32:39
Speaker
Greatest managers, greatest coaches. You should be one of those. is an IRA. When clients are in a workshop like that, who are one of the greatest leaders? I'll tell you, it's it's this person that is is my go-to partner that's managing the wealth for myself and my family.
00:32:56
Speaker
That you need to be perceived to have a mindset of wealth leadership. People that you admire, you need to start thinking about this. They should be admiring you. You should be exhibiting those behaviors that you describe in others.
00:33:10
Speaker
Well, why do you why did you admire that great leader? Well, he or she is an amazing visionary. He or she ah someone that people follow. He or she is someone that's clear cut on what needs to get done.
00:33:23
Speaker
in in ah in ah In a world right now of of unprecedented ah disruptions that are going on right now, politically, economically, environmentally, environmentally financially, all these things that are going on,
00:33:39
Speaker
What would it take for you to elevate your game as being one of the great leaders that your reputational value, on this person doesn't just manage my money. This person literally has made such a difference to my family, ah to the other people you know associated with me, whether you maybe company, other extended people associated with this. um they They put their foot, folks, on the pedal of service excellence.
00:34:10
Speaker
and of wealth leadership in a way that people and clients talk about you differently, your reputational values, I say, when you're gone, people talk about you differently, and you've left this amazing presence in your absence.
00:34:23
Speaker
You left the darn meeting, and someone's still talking about you hours later, or you know at a philanthropic event, whatever else it might be in the community. Somehow your name comes up, and man, people start smiling or glowing on your behalf.
00:34:37
Speaker
They're like a representative of your sales team. ah of you know, other people within your RIA firm to do this. And it's because of these things. So literally learn how to prove and quantify your value, learn how to squeeze the heart in different ways and elevate your game to an essence of wealth leadership and the and the the characteristics that we admire in others that we've embraced. And people talk about us in ways that they've never talked about us before.
00:35:06
Speaker
One, two, three, bingo. Great. Be a leader. i think you just recapped them for me perfectly. So I won't recap them for our leaders, but for our listeners. um But that sounds awesome. I think that number three, be a great leader.
00:35:18
Speaker
Be someone that you that you admire. Be that for for others. So Leo, thank you so much for for joining our podcast. We appreciate you hopping on. And for everyone listening, we hope you enjoyed today's conversation.
00:35:30
Speaker
If you like what you heard, take a moment, whichever platform you're on, to like, to subscribe, to follow us on social media, hit the buttons, do all the things. Every little bit helps the algorithm, helps us get out to more listeners.
00:35:43
Speaker
We appreciate you and we will catch you on the next one. I'd like to add my thanks as well, Leo. Appreciate you being with us today. and to our listeners, I say thank you and watch out for our next episode where we'll bring you even more insights and actionable ideas to help you grow your business.
00:35:59
Speaker
And remember, the challenge is yours to capitalize on what the future offers.
00:36:12
Speaker
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00:36:30
Speaker
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00:36:46
Speaker
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00:37:02
Speaker
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00:37:14
Speaker
Copyright 2025, Trade PMR Inc. For a transcript of this episode with sources, visit synergizedpodcast.com.