Shows
Plan Your Federal Retirement Podcast#142 Year End - What Planning You Need to DoYear-end is one of the most strategic times for Federal Employees to review their financial picture, retirement timeline, and tax exposure. In this episode, Micah Shilanski, CFP®, and John Raleigh, CFP®, walk you through the essential steps you should take before December 31st to stay on track and avoid costly mistakes in the new year. As Micah says, "Small decisions at year-end can produce big results over the next 10 years." This episode is your clear, simple, actionable guide to finishing the year strong and entering 2026 with clarity and confidence. https://zurl.co/NlW9y
2025-12-0128 min
The Perfect RIADiscipline Equals… Money? [Episode 335]In this episode, Micah Shilanski and Matthew Jarvis discuss the critical role of discipline in achieving success, particularly for financial advisors. They explore how discipline leads to freedom and the importance of building a psychology of winning through small successes. The conversation emphasizes the necessity of practice, creating daily victories, and eliminating decision fatigue to enhance productivity. They also address the cost of lack of discipline and provide practical steps for listeners to improve their discipline and take actionable steps towards their goals. Discipline Equals… Money? [Episode 335] Resources in today's episode: - Micah Sh...
2025-11-1727 min
The Perfect RIAEncore Episode: Measure What Really Matters?Matt and Micah are peeling back the layers to reveal what truly counts when it comes to gauging advisor effectiveness. They expose the delusion of conventional metrics like AUM, office hours, and household numbers and reveal the real deal: the true number you need to measure. They share that it's easy to get caught up in so many other numbers that are more like a badge of honour, but considering whether those numbers are really moving you and your practice forward. Listen in to learn how to measure what matters, what's the most impactful, and how to keep moving...
2025-11-0729 min
The Perfect RIAEncore Episode: So Is This What You Do In YOUR Practice?Matt and Micah kick off the conversation by discussing a recent conference experience, which turned out to be a masterclass in learning from others. They're exploring the significance of asking the right questions to truly understand the industry, and the importance of transparency, not just in sharing successes but also in discussing mistakes. Drawing from personal experiences, they caution against unsolicited advice and urge listeners to verify advice from credible sources. Their practical advice extends to a call for honest self-assessment and using real numbers to evaluate one's practice. Being open to learning, asking the right questions, and embracing...
2025-10-2427 min
The Perfect RIAMastering Fees in Financial Advisory [Episode328]In this episode, Micah and Matt discuss the critical topic of fees in the financial advisory industry. They explore the common sensitivities advisors have around fees, the importance of setting clear expectations with clients, and the need for effective communication. The conversation emphasizes the value provided to clients and how it correlates with the fees charged. They also highlight the significance of role-playing fee conversations to build confidence and ensure that all team members are aligned in their approach. The episode concludes with actionable steps for advisors to improve their fee discussions and enhance client experiences. Mastering...
2025-09-2925 min
The Perfect RIAEncore Episode: Should I Fire My Team?There's a classic honeymoon period where you hire someone and think they're going to solve all your problems. But what happens when that's over and you realize all your problems aren't solved? Matthew and Micah sit down to tackle the problem of employing people and discuss what needs to happen in order to have an effective and harmonious team. Listen in to hear about the importance of not only choosing the right person, but also being a leader that sets up a clear path of training and success for your employees. The guys also share tips on...
2025-09-2630 min
The Perfect RIANavigating Team Dynamics: Lessons in Leadership [Episode 327]In this episode, Matt and Micah discuss the complexities of team management, focusing on the importance of quality control, setting boundaries, and the psychological challenges of employee dismissals. They share personal experiences and insights on hiring strategies, emphasizing the need for clear expectations and accountability within teams. The conversation also highlights actionable takeaways for improving team dynamics and ensuring a positive client experience. Navigating Team Dynamics: Lessons in Leadership [Episode 327] Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
2025-09-2222 min
The Perfect RIA100 Reasons Prospects Say No [Episode 326]In this episode, Micah Shilanski and Matthew Jarvis discuss the intricacies of prospecting and the reasons why prospects may say no without explicitly stating their reasons. They emphasize the importance of integrity, setting expectations, and the need for advisors to track their data to improve their practices. The conversation also highlights the difference between handling objections and answering questions, advocating for a coaching mindset to foster trust and success in client relationships. 100 Reasons Prospects Say No [Episode 326] Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
2025-09-1523 min
The Perfect RIAEncore Episode: How To Train Your TeamIn this episode, Matt and Micah discuss the importance of team training which allows leaders to actively engage with their teams, identify areas of improvement, address hidden issues, and honor team concerns. They'll highlight the significance of creating an environment where team members want training, emphasizing autonomy, mastery, and purpose as key drivers and the logistics of team training. Encore Episode: How To Train Your Team Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
2025-09-1230 min
The Perfect RIADiscipline Equals Freedom: The Key to Success [Episode 325]In this episode, Jarvis and Micah discuss the critical role of discipline in the success of financial advisors. They explore how professionalism in client meetings, the difference between discipline and willpower, and the importance of building habits can significantly impact an advisor's effectiveness. The conversation emphasizes the psychological aspects of discipline and provides actionable items for advisors to improve their professionalism and client relationships. Discipline Equals Freedom: The Key to Success [Episode 325] Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
2025-09-0826 min
The Perfect RIAEncore Episode: Business PlanningIn this encore episode, Matt and Micah sit down to discuss how to be winners with systems not losers with goals. As provocative as that may sound, it is the mindset you need to adopt in order to succeed. Listen in as the guys explain how to make necessary changes in the new year, as well as the importance of holding yourself accountable. You'll learn how to time block, why short-term goals lead to long-term results. Encore Episode: Business Planning Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Mat...
2025-09-0531 min
The Perfect RIAEncore Episode: Stop Talking Yourself Out Of The Sale!It's crucial to know when to stop talking. Today Matthew and Micah share how important it is to hear what the client has to say and why you may need to adjust how you are talking to clients about sales. They will share effective communication strategies that create better understanding and encourage better decisions on behalf of the client. Listen in as they go over an important question to ask at the beginning of a meeting that may create valuable clarity, as well as the role of your ego (and how it often needs to be pushed ou...
2025-08-2919 min
The Perfect RIACounting the Reps: The Key to Growth [Episode 323]In this episode, Matt and Micah discuss the concept of 'counting the reps' in the context of financial advising. They emphasize the importance of distinguishing between actual practice and mere dreaming, highlighting that true practice involves discomfort and discipline. The conversation covers effective strategies for growth, the significance of content creation, and the necessity of time management for successful practice. They also delve into the importance of accountability and refining practices to achieve desired results. Counting the Reps: The Key to Growth [Episode 323] Resources in today's episode: - Micah Shilanski: Website | LinkedIn...
2025-08-2527 min
The Perfect RIAEncore Episode: Why Aren't You Delegating To A Virtual Assistant?Are you capable of booking your own flights? Of course, you are. How about scheduling your own client meetings sure but at what cost? Are doing these tasks the highest and best use of your time? On today's episode, Matt and Micah talk about the benefits of hiring a virtual assistant so you can focus your decisions and time that only you can do. Listen in as they share some mistakes people make when bringing on a virtual assistant, as well as how to make this transition successful. Encore Episode: Why Aren't You Delegating To A Virtual...
2025-08-2221 min
The Perfect RIAEncore Episode: Did Surge Abandon You?If you're new to skiing and it's your first day on the bunny slope, would you move to a double diamond on day two? No way! The same idea goes for surge. You can't go from zero meetings to thirty and expect that it'll go well and that you won't burn out. On today's episode, Matt and Micah talk through some of the most common myths and illusions about surge and why you want to live your ideal practice now. Encore Episode: Did Surge Abandon You? Resources in today's episode: - Micah Shilanski: W...
2025-08-1532 min
The Perfect RIAPreparing For Fall Surge: A Guide for Financial Advisors [Episode 321]In this episode, Matt and Micah discuss the concept of 'Surge' in financial advising, emphasizing the importance of delivering massive value to clients. They explore the logistics of scheduling client meetings, the benefits of focused interactions, and the necessity of having systems and checklists in place to enhance efficiency. The conversation highlights the significance of preparation and continuous refinement of processes to ensure a successful surge cycle, ultimately leading to better client relationships and business outcomes. Preparing For Fall Surge: A Guide for Financial Advisors [Episode 321] Resources in today's episode: - Micah Shilanski: W...
2025-08-1129 min
The Perfect RIAEncore Episode: How Surge Works For New Relationships And Clients.If you're new to surge or you have a client who has not yet experienced surge, how do you manage expectations? Telling a prospect that they can't see you for 6 months could cause mutiny, so it's important to clearly communicate your framework and what they can expect. Matthew and Micah dive into this dilemma today and share insight into how you can plan, prepare, and ultimately deliver incredible value to clients in a new-to-surge situation. Listen in to get step-by-step information on how to start setting the right expectations from the very beginning. Rather than running off...
2025-08-0826 min
The Perfect RIAHow to Get More Clients This Summer [Episode 318]In this episode, Micah and Jarvis discuss strategies for acquiring more clients, maintaining momentum in business, and the importance of tracking and systems in financial advising. They emphasize understanding the client journey, setting realistic expectations for growth, and the role of curiosity in learning from successful peers. The conversation culminates in actionable steps for listeners to implement in their practices. How to Get More Clients This Summer [Episode 318] Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
2025-07-2127 min
The Perfect RIAEncore Episode: What Are Prospects ACTUALLY SayingIn this encore episode Matt and Micah are discussing the significance of real-life experience and action in comprehending client interactions. Genuine knowledge happens when you roll up your sleeves and actively engage with prospects and clients rather than relying solely on prescribed strategies. They're sharing that advisors need to strive for an open-minded, value-focused approach to client meetings and to prioritize curiosity and effective communication over technical prowess. Plus, they're reminding us that financial advising is not all about numbers; it's about injecting energy and enthusiasm into every conversation. Encore Episode: What Are Prospects ACTUALLY Saying
2025-07-1826 min
The Perfect RIAProspecting That Works [Episode 317]In this episode, Micah Shilanski and Matthew Jarvis discuss the challenges faced by financial advisors in prospecting and growing their practices. They emphasize the importance of understanding growth metrics, consistent marketing efforts, and the necessity of practice in delivering value to clients. The conversation highlights the significance of personal experience in financial advising and the need for advisors to believe in their value. Prospecting That Works [Episode 317] Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
2025-07-1425 min
The Perfect RIANavigating Client Mistakes: A Guide for Advisors [Episodes 316]In this episode, Matt and Micah discuss the inevitability of mistakes in client management and the importance of addressing them effectively. They emphasize the need for setting expectations with clients, taking ownership of errors, and having a structured process for handling mistakes. The conversation covers both major and minor issues, highlighting the significance of communication, accountability, and continuous improvement in client relationships. Navigating Client Mistakes: A Guide for Advisors [Episodes 316] Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
2025-07-0727 min
The Perfect RIAEncore episode - Why Don't I Have More Prospects?!?Is the prospect stream pretty low? Or, even, completely dried up? This episode is all about the common mistakes made in marketing, creating content, delivering value, and more that really affect your prospect numbers. Matthew and Micah share specifically how they 'put in reps' and how that, along with not playing office and other important aspects, has allowed them to develop a solid flow of prospects. Listen in to hear about how important it is to be diligent with your time and ensure you're using it to build and not stagnate. Matthew and Micah give examples of...
2025-06-2720 min
The Perfect RIAEncore Episode: You Said What In A Client Meeting?!One of our core tenets and values at TPR is reality, not theory. Matthew and Micah discuss how we get from a theoretical environment to a real environment especially when it comes to meetings with clients where we aim to deliver massive value. You will hear about the importance of the words you use in meetings as well as what you should be doing to avoid miscommunication with clients. Matthew and Micah also share tips on how to set expectations in ways that are clear and making way for success. They share detailed examples and insight into h...
2025-06-2030 min
The Perfect RIANot Everyone Needs a Niche [Episode 313]In this episode, Micah and Jarvis discuss the concept of niching in the financial advisory space, exploring its importance, the distinction between advertising and marketing, and the journey of finding and developing a niche. They emphasize the need for advisors to understand their clients deeply, build trust, and take actionable steps towards establishing their niche. The conversation highlights the long-term commitment required for successful niching and the importance of integrity in client relationships. Not Everyone Needs a Niche [Episode 313] Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | Linked...
2025-06-1627 min
The Perfect RIAEncore episode - Client SegmentationClient segmentation is the process by which you divide your clients up based on common characteristics (such as demographics or behaviors) so that you can serve those clients more effectively. However, client segmentation doesn't always work in the advisory industry. In fact, it highlights another issue altogether: a failure to define your niche. So, in this episode, Micah and Matthew will be sharing the problems that develop when you start segmenting clients and what you can do to provide massive value instead. Listen in as the guys describe how to be more intentional with your practice and...
2025-06-1324 min
The Perfect RIAEncore episode - Prospect Process - Must Schedule Right Now: Available or Desperate?What happens when a prospect says, "I have time tomorrow at 2 pm"? In today's episode, Matthew and Micah compare this situation to being put into a Jiu-Jitsu chokehold and discuss how to navigate this situation in a calm way. You will hear tips on how to lay a solid foundation for your process of success and how to explain it to your clients in a way that demonstrates its value to them. Listen in as the guys break down how making exceptions for a client is actually going to take away from the value you provide. They...
2025-06-0632 min
The Perfect RIAEncore Episode: What Is The Perfect RIA?In this Encore Episode Matt and Micah talk about how often you use financial phrases, terminology, or jargon that mean nothing to your clients or prospects? This is something that many advisors do not focus on enough. Verbally simplifying and breaking down what you're doing to your clients (or prospects) will allow them to recognize how much value you are adding to their life. So, today Matthew and Micah will be sharing the background story as to why they started The Perfect RIA and the reasons they came together to help you through your financial advisory journey. L...
2025-05-3026 min
The Perfect RIAThe Art of Taking Time Off [Episode 309]In this conversation, Jarvis and Micah discuss the importance of taking real vacations as advisors, emphasizing the need for clear communication with clients and team members. They outline five common mistakes advisors make when planning time off, including not setting expectations, failing to communicate effectively, and neglecting to have an emergency plan. The discussion also highlights the value of having a structured approach to client meetings and the necessity of creating a checklist for time away from the office. Ultimately, they stress the importance of balancing work and personal life to enhance overall effectiveness and satisfaction. The...
2025-05-1927 min
The Perfect RIAEncore episode - You Drank a Soda in a Client Meeting?!?There are many things that advisors subconsciously do in client meetings that make a large impact on how those meetings go. Everything from how you enunciate to how you position your body are either adding to or detracting from the client experience, which is ultimately the determining factor in whether they hire you. So, in this episode, Micah and Matthew will be discussing several things you should and shouldn't do in client meetings. Listen in as they share how to ensure you are performing at the same energy level throughout every meeting you are conducting, as well...
2025-05-1630 min
The Perfect RIAThe Hard Truths of Success [Episode 307]In this episode, Jarvis and Micah discuss the dynamics of their podcast, emphasizing the importance of consistency and preparation in achieving success. They explore the hard truths behind success, the necessity of practice, and the value of networking. The conversation also highlights the significance of continuous learning, measuring success through key metrics, and living intentionally to balance work and family life. The episode concludes with actionable items for growth and accountability. The Hard Truths of Success [Episode 307] Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn
2025-05-0528 min
The Perfect RIAEncore episode - How To Communicate Your Value To Clients [Episode 172]In this throwback episode, Matthew and Micah revisit one of their most impactful conversations about adding real value during client meetings. Every advisor knows they need to meet with clients regularly but what do you actually say in those meetings to make them count? If you've ever struggled with that question, this episode is for you. The guys go back to the origins of the value-add, share their early struggles, and talk about what helped them build confidence and purpose into every client interaction. Encore episode - How To Communicate Your Value To Clients [Episode 172] R...
2025-05-0229 min
The Perfect RIAValue Beyond The Meeting [Episode 305]In this episode, Matt and Micah discuss the art of delivering massive value to clients that extends far beyond the conference room door. They argue that cash flow isn't just a financial metric—it's the lifeblood of effective retirement planning. The duo shares practical wisdom on systematically tracking value delivery, mastering the delicate dance of cash flow conversations, and leveraging your own financial journey to build unshakeable client confidence. They unpack the emotional dimensions of money management while emphasizing that broad-stroke cash flow planning trumps tedious line-item budgeting every time. Throughout their conversation, they reveal how strategic accountability keeps cl...
2025-04-2125 min
The Perfect RIARanking Value Adds: Easy Wins and Game Changers [Episode 304]In this episode of The Perfect RIA podcast, Matt and Micah dive into the world of value adds – those extra touches that keep clients from heading for the exit. The duo serves up a practical ranking system, categorizing value adds from simple to complex - where it might require a few extra cups of coffee. They reveal how these reports can transform client comprehension from confused head-scratching to confident nods of approval. The conversation ventures through the often-neglected territory of survivor income planning, the delicate art of long-term care discussions, and the absolute necessity of keeping beneficiary information current. Th...
2025-04-1426 min
The Perfect RIAWhy Or When To Fire A Client [Episode 302]In this episode of the Perfect RIA Podcast, Matt and Micah tackle the delicate dance of knowing when—and how—to part ways with clients. They challenge the very notion that advisors can simply "fire" clients, arguing instead that you must first earn that right through consistent value delivery. They explore the fascinating psychology behind client-advisor tensions, revealing how unmet expectations are at the root of most relationship breakdowns. "All disappointment," they remind us, "comes when expectations collide with reality." They offer a nuanced take on distinguishing between clients who question advice (healthy) versus those who consistently igno...
2025-03-3127 min
The Perfect RIAYou're Not Taylor Swift [Episode 299]In this episode of the Perfect RIA Podcast, hosts Micah Shilanski and Matthew Jarvis discuss humility and why even advisors with the fanciest letterheads need it. The duo dives into the ecosystem of advisory practices (spoiler alert: not all are created equal) and unpacks the sometimes brutal realities of mergers and acquisitions. Whether your practice is a boutique operation or an industry behemoth, Micah and Matthew insist there's always something to learn from your peers—even if that something is "what not to do." They warn against the "know-it-all" syndrome that plagues many successful advisors and explain wh...
2025-03-1022 min
The Perfect RIAThe Fees Are Only Up Because The Market Is Up… [Episode 297]In this episode of The Perfect RIA podcast, Matt and Micah tackle the ever-present elephant in the room: advisor fees and the true value behind those dollar signs. They discuss how clients, naturally protective of their hard-earned wealth, often wrestle with the age-old question: "What am I really getting for my money?" Matt and Micah advocate for advisors to own their worth confidently and stress that having a crystal-clear value proposition isn't just nice to have – it's as essential as coffee on a Monday morning. They make a compelling case against the industry's tendency to race to th...
2025-02-2425 min
The Perfect RIAWhy Two Advisors Decided to Spill Their SecretsIn this week's Follow Up Friday, Amber Kuhn highlights the origin story of why Matthew Jarvis and Micah Shilanski started The Perfect RIA. Matt and Micah revealed how the landscape of financial advising was once shrouded in mystery, with successful advisors keeping their strategies close to the chest, and they found themselves navigating through well-meaning but often theoretical advice from people who hadn't actually implemented what they were preaching. After years of trial and error, they discovered that their unconventional approach to running their practices, though criticized by industry standards, was working exceptionally well. Their commitment to...
2025-02-1406 min
The Perfect RIABeyond the BS: What Actually Works in Financial Planning [Episode 295 ]In this episode of The Perfect RIA Podcast, hosts Micah Shilanski and Matthew Jarvis cut through the noise of conventional industry wisdom. As advisors everywhere dive into their new year planning, these seasoned pros share what actually drives success in financial planning – and it's not what most Instagram gurus would have you believe. They tackle the real challenges of entrepreneurship in financial services, offering insights that go beyond the typical "top ten tips" you'll find in industry publications. They explore how they've transformed their practices from standard portfolio management shops into businesses that deliver meaningful, life-changing value to clients. ...
2025-02-1029 min
The Perfect RIAA Trust Will Solve All My Problems… [Episode 294]In this episode, Matthew Jarvis and Micah Shilanski dive deep into the often misunderstood world of estate planning. They reveal how many clients mistakenly consider estate planning a simple checkbox task when it actually requires ongoing attention and care. They share invaluable insights from their years of experience, emphasizing that successful financial advisors must actively guide their clients through each step of the estate planning journey. Drawing from their own practices, Matt and Micah discuss the delicate art of managing client expectations, particularly when dealing with complex trust arrangements. They stress the power of personal storytelling, encouraging...
2025-02-0324 min
The Perfect RIASo, How Will You Get All Those New Clients? [Episode 292]In this episode, Matt and Micah tackle the age-old question: how can advisors transform their practices from good to extraordinary? They reveal why shooting for double-digit client growth isn't just ambitious – it's necessary for a thriving practice in today's competitive landscape. But it's not all about the numbers (though they're pretty important). The episode unpacks the critical role of financial addressing – think of it as your practice's GPS, helping you navigate through potential gaps and opportunities. Matt and Micah emphasize the value of having someone who'll challenge your figures and push back on your assumptions because, let's face...
2025-01-2026 min
The Perfect RIAWhat Was Your NET Client Flow In 2024? [Episode 291]In the latest episode of The Perfect RIA, Matt and Micah discuss what truly makes or breaks client relationships in financial advising - and surprise, it's not your fancy financial jargon or market predictions. They reveal why empathy is the key to transforming good advisors into trusted lifetime partners for their clients. This is a wake-up call for advisors who might be too focused on spreadsheets while missing the human element; client retention metrics go hand-in-hand with mastering the art of emotional intelligence. Success isn't just about crunching numbers - it's about asking the right questions and actually listening...
2025-01-1323 min
The Perfect RIAWhat You Are Entitled To In 2025 [Episode 290]In this episode, Matt and Micah kick off 2025 with an episode that's less about champagne toasts and more about making your financial advisory practice pop like a cork. They dive into the art of intention-setting, reminding listeners that success in the financial world isn't served on a silver platter – it's earned through good old-fashioned elbow grease. In this candid conversation, they tackle the elephant in the room: the entitlement mindset that's become the silent practice-killer for many advisors. They share their battle-tested wisdom on building sustainable businesses that stand the test of time, emphasizing that client relationships ar...
2025-01-0622 min
The Perfect RIADon't Worry, I Can Skip The Soft Stuff [Episode 289]In this episode, Micah and Matt discuss the importance of relationship-building in client meetings. They reveal a counterintuitive truth that many financial advisors miss: your first client meeting isn't about dazzling them with spreadsheets or complex financial jargon. Instead, it's about creating a genuine human connection that transforms potential clients from mere numbers to trusted partners in their financial journey. Micah and Matt break down the essential strategies for turning initial client interactions from mundane meetings into meaningful conversations. They emphasize the power of curiosity, active listening, and empathy as the true currencies of successful financial planning...
2024-12-3028 min
The Perfect RIAYes, There is One Silver Bullet [Episode 288]In the latest episode of The Perfect RIA, hosts Micah Shilanski and Matthew Jarvis share some hard-hitting truths about what really drives success in the financial advisory world. Forget the fantasy of overnight miracles and magical quick fixes. This episode is a no-nonsense dive into the unglamorous—but absolutely essential—reality of building a thriving practice. Spoiler alert: There's no silver bullet waiting to transform your business overnight. Those shiny logo packages, sparkling new websites, and expensive consultants? They're not your golden ticket. The episode challenges financial advisors to stop looking for shortcuts and start inve...
2024-12-2320 min
The Perfect RIACompliance 'Adverse' [Episode 285]Ever wondered how the big players in financial services got to where they are? Matt and Micah dive deep into the secret behind Edward Jones' remarkable success story – and why independent advisors should be taking notes instead of throwing shade. They challenge the common "David vs. Goliath" mindset that often leads independent advisors to dismiss larger firms' achievements and reveal how Edward Jones' strategic playbook can be adapted for independent practice success. Listen in as they explore the often-overlooked truth about building a thriving advisory practice: it's not just about working harder but working smarter with intentionality....
2024-12-0225 min
The Perfect RIABitcoin [Episode 284]Ever wondered why some financial advisors seem to have a sixth sense for their clients' needs? In this episode, Matt and Micah reveal why playing "20 Questions" with your clients isn't just a party game – it's the secret to building a rock-solid investment strategy. Listen in as they share their battle-tested wisdom on guiding clients through the investment maze. They emphasize that understanding your client's "why" is more valuable than jumping on the latest investment bandwagon. Drawing from their extensive experience, Micah and Matt explain how top advisors build an arsenal of trust and relationship capital that proves in...
2024-11-2522 min
The Perfect RIAA Failure to Plan is a Plan to Fail [Episode 281]In this episode, Matt and Micah are sharing a secret of successful financial advisors: effective business planning. They challenge listeners to take a hard look at where they stand and where they're headed, arguing that this clarity is the compass for any successful journey in finance. Matt and Micah also emphasize aligning your professional goals with your dream lifestyle because what's the point of success if you're not living your best life? They advocate for measuring progress with actionable metrics and creating a game plan that turns lofty ambitions into tangible results. Their message is clear: in...
2024-11-0428 min
The Perfect RIALeading with Integrity: Balancing Team Management and Client Relationships in Financial AdvisingIn this recap episode, Amber shares highlights about effective leadership in your practice with your team and maintaining professionalism in client relationships. Matt and Micah kicked off the week by emphasizing the importance of mastering essential skills to elevate your practice. They stressed the significance of setting clear expectations when bringing on new team members, whether they're junior advisors or support staff, highlighted common pitfalls in leadership, such as failing to establish firm boundaries and non-negotiable standards. The conversation then shifted to professionalism in financial advising, with Jamie Shilanski joined by her father, Floyd. They discussed the...
2024-10-2507 min
The Perfect RIAA Tangent with Floyd ShilanskiIn this episode, Jamie and Floyd Shilanski offer a fresh perspective on professionalism in financial planning. They explore the evolving landscape of the industry, from the growth-focused early stages of an advisor's career to the nuanced expertise of seasoned professionals. They tackle a provocative question: what does it truly mean to be a professional in this field? They argue that recognizing and charging for one's value is not just acceptable, but necessary. Jamie and Floyd don't overlook the human element of financial advisory. They delve into the art of building trust and strong relationships with clients, acknowledging t...
2024-10-2436 min
The Perfect RIALearning Opportunity or Time To Go [Episode 279]In this conversation, Matt and Micah tackle the crucial yet often underestimated topic of leadership and team management in financial advisory practices and explore the transformative impact of establishing clear expectations and firm boundaries with team members. They make a compelling case for why effective leaders must stand unwavering on key issues such as punctuality, integrity, and mutual respect. Matt and Micah vividly demonstrate how unclear boundaries can lead to team discord, potentially undermining even the most promising practices. They balance these cautionary tales with inspiring insights, emphasizing that exemplary leadership begins with self-accountability and embracing the...
2024-10-2128 min
The Perfect RIAYes, It Is Your Dress [Episode 278]In this episode, Matt and Micah unpack the power of professionalism in the industry. They reveal how the often-overlooked details – a sharp outfit, punctual arrival – can significantly shape client perceptions and build lasting trust. They explore how these seemingly small touches can have a profound impact on client relationships, potentially making or breaking crucial business connections. They also dive deep into the art of leading by example, offering practical advice on how to set and maintain high standards for yourself and your team. Yes, It Is Your Dress [Episode 278] Resources in today's episode: - Mi...
2024-10-1425 min
The Perfect RIAHire or Fire?In this episode of The Perfect RIA podcast, Jamie Shilanski dishes out some hard-earned wisdom from Shilanski and Associates about empowering team members and making smart hiring choices. Recognizing a critical role that needed to be filled, Jamie shared the mistakes made in the hiring process, leading to the wrong person being hired and causing disruptions in the organization. The takeaway? Be picky with your hires, set clear expectations, and don't be afraid to show problematic employees the door. Hire or Fire?
2024-09-2630 min
The Perfect RIAFire Them Already!In this conversation, Jamie Shilanski discusses the role of intuition in decision-making as business owners. She explains the two types of intuition: deductive reasoning and inductive reasoning, making it clear why listening to your gut is more than just a cliché. Jamie dishes on the workplace drama that is toxicity and its soul-sucking effect on the team, a reminder that a positive environment is non-negotiable. Jamie provides insights into the hiring process and the need for clear job descriptions, onboarding processes, and training programs. Surround yourself with A-level players to cultivate a team that's not just good but downright u...
2024-09-1242 min
The Perfect RIADaydreaming Won't Make You a Successful Financial Advisor [Episode 273]Matt and Micah are breaking down the difference between actual goals and mere fantasies. Why do some financial advisors hit their big hairy audacious goals (BHAGs) while others just daydream? Spoiler: hard work, self-awareness, and a hefty dose of accountability. They emphasize that achieving real goals, unlike fantasies, requires the willingness to put in the hard work. Successful financial advisors don't just pat themselves on the back; they recognize their weaknesses and know where they need to improve. Matt and Micah also stress the importance of tracking progress. If you're not measuring your progress, you're slacking, because t...
2024-09-0922 min
The Perfect RIANot Bringing on New Clients? It's Because You're Playing Office [Episode 269]In this episode, Micah and Matt are digging into the world of marketing for financial advisors. They reveal why flashy graphics and social media likes aren't enough to grow your practice – it's all about delivering real value and mastering the art of communication with prospects. They emphasize the importance of answering prospects' burning questions to build trust and credibility, and encourage advisors to explore diverse marketing channels, from social media and podcasts to impactful in-person events, while stressing the need to commit to chosen strategies for the long haul to see meaningful results. - Not Br...
2024-08-1224 min
The Perfect RIAAll Investment Management is Playing Office [Episode 267]Micah and Matt are challenging the industry's fixation on Assets Under Management (AUM). They explore how financial advisors can shift their focus from pure investment management to holistic financial guidance. They emphasize the crucial role of effective communication between advisors and clients and they introduce innovative frameworks like the five-year rule and 5% distribution rule, which empower clients to actively participate in their retirement planning. These frameworks aim to foster better understanding and more informed decision-making. Micah and Matt also strongly advocate for advisors to invest alongside their clients, using the same models and assets they recommend. This...
2024-07-2930 min
The Perfect RIAYou Are Only Cheating Yourself [Episode 264]Matt and Micah are exploring the pivotal role of robust processes in enhancing the effectiveness of financial advisors. They challenge the conventional wisdom that efficiency alone leads to success, advocating instead for a more nuanced approach. The duo delves into the dangers of skipping critical steps, the impact of emotional attachment on decision-making, and the importance of maintaining objectivity in practice management. They emphasize how these factors can significantly influence the success and growth of a financial advisory practice. Throughout the discussion, Matt and Micah stress the importance of diligence, critical analysis, and unwavering accountability for financial...
2024-07-0830 min
The Perfect RIAYour Vocation Should Pay For Your AvocationsJamie Shilanski challenges the conventional wisdom that our jobs should be the sole source of fulfillment and happiness. Instead, she advocates for a mindset shift: Treat your vocation as a means to fund your avocations, your true passions, and your adventures in life. Too often, young financial advisors fall into the trap of expecting their careers to provide all-encompassing purpose and joy. However, Shilanski emphasizes that genuine happiness is an individual choice and responsibility, not something employers can bestow. For financial advisors seeking sustainable growth, both personally and professionally, Jamie's insights are invaluable. She underscores...
2024-06-2725 min
The Perfect RIAWhat Do Prospecting and Six-Pack Abs Have in Common? [Episode 258]Craving a six-pack of clients? In this power-packed episode, experts Matt and Micah reveal the jaw-dropping parallels between sculpting a shredded midsection and mastering the art of prospecting for financial advisors. They're shattering myths and demolishing excuses, proving that intentional, gut-busting work is the only path to prospecting prowess. Discover how hyper-focused tracking, strategic time investment, and an unshakable commitment can transform your prospecting game from flab to fab. Whether you're a newbie or a seasoned pro, this episode is a genuine game-changer packed with real-world wisdom from the trenches of prospecting. Stop wishing for an endless...
2024-05-2730 min
The Perfect RIABad Ways to Answer Clients [Episode 256]In this episode of The Perfect RIA, Micah and Matt dive deep into the art of effective client communication for financial advisors. They stress the critical role of intentional communication in delivering tangible value to clients and helping them reach their financial aspirations. Handling tough questions is a key topic, where they underscore the necessity of maintaining client trust through prompt follow-ups and confidence, even when the answer isn't immediately clear. Micah and Matt emphasize the power of advisors knowing their niche and tapping into resources for accurate, reliable information. They reveal how implementing streamlined systems can...
2024-05-1328 min
The Perfect RIAHow Investments Work With Your Clients [Episode 255]Dive into the latest episode of The Perfect RIA podcast, where hosts Matthew Jarvis and Micah Shilanski uncover the crucial role of comprehensive planning for financial advisors. Step away from the typical investment-centered mindset and learn why prioritizing cash flow, risk management, taxes, and income should take the lead. Discover how effective communication can shift the focus from investments to holistic financial wellness. In this engaging discussion, Jarvis and Shilanski shed light on the pitfalls of fixating solely on investment details and the power of messaging in shaping client perceptions. Explore strategies to align investments with clients...
2024-05-0629 min
The Perfect RIAMasterclass Sneak Peek Part 2: Prospect Process and Client Onboarding [Episode 254]In this Masterclass sneak peek episode, Matt and Micah unveil their masterful approach to client onboarding, offering a glimpse into their proven strategies. They underscore the significance of structured processes and transparent communication in fostering client trust and satisfaction. Micah delineates his method, which involves distinct meetings tailored to estate planning, risk management, retirement income, investments, and taxes, ensuring comprehensive coverage of client needs. Meanwhile, Matt prioritizes swiftly integrating clients into the standard client rotation while tackling essential financial planning aspects. Throughout their discussion, the duo highlights the paramount importance of effective communication and delivering tangible value to clients...
2024-04-2922 min
The Perfect RIAUpgrade, Graduate, or Just Keep Playing Office [Episode 252]In this episode, Matt and Micah discuss the importance of taking action in your financial planning practice. They emphasize the need for advisors to think like business owners and make decisions that align with their core beliefs and values. They run through the challenges of segmenting clients and the potential pitfalls of doing so. Listen in as they provide practical advice on how to analyze your client list and identify red, yellow, and green clients and offering opportunities for clients to upgrade. Upgrade, Graduate, or Just Keep Playing Office [Episode 252] Resources in today's episode:
2024-04-1527 min
The Perfect RIAEconomic CommentaryIn this episode, Matt and Micah discuss the importance of critical thinking in financial planning and the necessity of being open to challenging discussions within your practice. They advocate for assessing whether your current strategies truly deliver substantial value to your clients and that trying to predict the markets is akin to predicting the lottery; instead, advisors need to focus on long-term economic trends and how they impact clients' goals. Listen in as they highlight the importance of balancing knowledge and translating that into actionable advice Economic Commentary Resources in today's episode: ...
2024-04-0825 min
The Perfect RIANot Documented, Not DoneIn this episode, Jamie Shilanski dives deep into the critical role of documentation in the success of any business. Drawing from the experience of Shilanski Associates, Jamie showcases the transformative power of comprehensive CRM systems like Infinity and outlines the SOAP method for effective note-taking. By implementing effective documentation practices and leveraging advanced CRM systems, businesses can enhance efficiency, mitigate risks, and elevate client service standards. Not Documented, Not Done
2024-04-0436 min
The Perfect RIAThrowback: Show Me The Beef! [Episode 250]As an advisor, you get the opportunity to transform someone's life in just one hour. But the key is to make sure you're spending that hour as wisely as possible. So today, Matthew and Micah dive into what to do in prospect meetings and how to improve the value you add during those meetings. Listen in as the guys discuss some of the common issues that pop up in prospect meetings, as well as how you can avoid key mistakes. You'll get tips on listening better, understanding your clients' needs, and delivering value from the start. They...
2024-04-0134 min
The Perfect RIAThrowback: Roth Conversions [Episode 248]Sometimes we can get caught up in our own heads in a way that keeps us from focusing enough on the end client delivery. So today, Matthew and Micah share how they have gotten caught up on their own ideas and discuss how this often happens when it comes to Roth conversions—and what to do about it. Listen in to hear how they navigate this issue, what kinds of communication methods help, and what you can do to ensure clients are better prepared to take advantage of Roth conversions. When clients sit down and hear you re...
2024-03-1835 min
The Perfect RIACommunication, Not Sales [Episode 247]Summary: In this episode, Micah and Matt discuss the importance of effective communication with clients and prospects in your financial planning practice. They debunk the negative connotations associated with sales and emphasize the need for good, practiced communication skills. They highlight the role of role-playing in improving communication and stress the importance of having a consistent process. Communication, Not Sales [Episode 247] Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website | LinkedIn - Ready to get training from Matt and Micah in person? Join us on September 25th...
2024-03-1129 min
The Perfect RIACharging For Prospect MeetingsIn this episode, Jamie discusses the importance of charging for initial prospect consultations. She shares the background of Shilanski and Associates, and explains how they began charging for prospect meetings. Jamie emphasizes the value that financial advisors provide and challenges the mindset that their services should be given away for free. She outlines the process of charging for consultations and highlights the focus on delivering value to prospects. Jamie also addresses common concerns and misconceptions about charging for initial meetings and emphasizes the importance of consistency and integrity in pricing. Charging For Prospect Meetings Resources...
2024-03-0736 min
The Perfect RIASetting the Stage For Prospect Meetings - Masterclass Sneak Peek! [Episode 245]Matt and Micah are sharing a sneak peek of an upcoming masterclass focused on perfecting the prospect process. The duo reflects on their past experiences, including awkward encounters and struggles to convey value to prospects. The key takeaway: it all boils down to creating a sense of value in the prospect's mind. Discover the crucial elements of a successful first in-office appointment, where every detail, from communication beforehand to the receptionist's warm greeting, plays a vital role. Learn the importance of a positive environment and stacking everything in your favor, even the seemingly small details, to create a...
2024-02-2621 min
The Perfect RIANo One Will Fix It For You [Episode 243]In this episode, Matt and Micah discuss the importance of being prepared for emergencies in both personal and professional settings. Through an experience of witnessing a boat capsizing, they highlight the illusion that people will automatically know what to do in a crisis. They emphasize the need to be your own first responder, to not rely solely on others for help, and the dangers of thinking nothing could ever happen to you - instead, be ready with a plan! Resources in today's episode: - No One Will Fix It For You - Matt...
2024-02-1231 min
The Perfect RIAOnly Fools Get Alerts [Episode 241]In this episode, Micah and Matt discuss the destructive nature of alerts and notifications on your productivity and mental well-being. They emphasize the importance of separating acceptable notifications from overwhelming ones and creating a team communication policy. They also share strategies for managing calendars and travel and using tools like scheduled summaries to transition between work and personal modes. They highlight the need for accountability in addressing the addictive nature of dopamine and the exploitation of our attention. Only Fools Get Alerts [Episode 241] Resources in today's episode: - Matt Jarvis: Website | LinkedIn...
2024-01-2935 min
The Perfect RIAWhat Does Profitability Really Look Like? [Episode 239]In this episode, Micah and Matt discuss the importance of profitability in financial advisory practices and why it's needed to ensure financial stability and the ability to weather economic downturns. They share insights on hiring and team management, highlighting the importance of hiring strategically and setting benchmarks for growth. They're also cautioning against wasteful spending and why you need to invest in activities that have proven to be successful and involve things you're willing to do. What Does Profitability Really Look Like? [Episode 239] Resources: - Matt Jarvis: Website | LinkedIn - Micah Shilanski: Website...
2024-01-1533 min
The Perfect RIAWorlds to Conquer - Family Offices: An Interview With Floyd ShilanskiHire family or don't hire family? This might depend on who you're asking. In the second part of this series, Jamie is joined by her father, the legendary Floyd Shilanski, to talk about the different aspects of a family firm. Jamie and Floyd will discuss how their firm, Shilanski and Associates, evolved from where Floyd and his wife Rosa started it to where it is today, as well of the realities of working in a family firm. http://bit.ly/3VGOwBH
2022-12-1542 min
The Perfect RIATPR Live Event Recap [Episode 178]What happens when you put Matthew Jarvis and Micah Shilanski in a room with advisors who are committed to success? Matt and Micah recap the most recent TPR live event in this episode. They share how putting together this event takes a lot of time and energy, and yes… head trash! And how they overcome this. Listen in as the guys discuss the practice analyzer and how, by breaking down the number, you can start to truly see where your time is being spent. They'll also discuss why you need to know which tasks are and aren't pl...
2022-11-1420 min
The Perfect RIAWhat Works Wednesday with Guest Jeff RattinerThe CFP® designation has been the standard of excellence for financial planners for decades—and it's easy to see why. The highest designation in financial planning, combined with the commitment to high ethical standards, sets advisors holding this designation apart from the rest. So, what comes next after you receive your CFP®? And how can we implement processes to ensure our practices run as smoothly as possible? Jeff Rattiner, President at Rattiner's Financial Planning Fast Track, Inc., joins Micah today to share the answers to these questions and more. You can find show notes and more information by c...
2022-08-2431 minThe Perfect RIAFollow Up Friday - A Tale Of Two Surges - Matthew and Micah's Surge ComparisonThe differences in how Matt and Micah run surge. https://bit.ly/3PkN18A
2022-08-1909 min
The Perfect RIAA Tale of Two Surges - Matthew and Micah's Surge Comparison [Episode 165]The focus this month is on surge meetings because they are such a critical part of an office. Today Matthew and Micah talk about how they do surge differently in their respective offices. This is something that many people ask about, so grab your notes and listen in to hear how and why they differ in some key surge procedures and processes. You can find show notes and more information by clicking here: https://bit.ly/3Qbot3p
2022-08-1529 minThe Perfect RIATHE Floyd Shilanski [Episode 141]Providing your clients with massive value is something that is talked about often on The Perfect RIA, but it's also important to ensure you have time for your loved ones while also showing up with the right mindset every single day. No one knows these topics more than Floyd Shilanski, the President of Shilanski & Associates, Inc. In this episode, he will be sharing his wealth of knowledge from his many years of experience in the financial planning industry, as well as the most valuable tidbits from his book, Registered Investment Advisor (RIA) From Scratch. You can find...
2022-02-2834 min
The Perfect RIAIt's Not Just Matt and Micah That Surge [Episode 124]Financial advisors generally meet with clients year-round, resulting in wasted time not only preparing for the meetings, but also in the meetings themselves. However, there is an alternative: surge meetings. By adding a surge to your calendar, you have the ability to boost productivity, systematize the client review meeting while still providing massive value to your clients, and free up time to do more of what you love. Here to help Matthew and Micah dive into this topic further is Ben Brandt, the host of Retirement Starts Today Radio, co-host of the Retirement Tax Podcast, and founder of Capital...
2021-09-1328 min
The Perfect RIAI HATE Matt & Micah [Episode 78]When you look at successful people, do you feel malice or anger toward them? Or do you ask yourself what did they do to get themselves to that place? Today Micah and Matthew are discussing jealousy and how to overcome this mental block so that you can achieve the success you deserve. You can find show notes and more information by clicking here: https://bit.ly/2T6JhNN
2020-05-2229 min
The Perfect RIATeam Work Makes the Dream Work [Episode 68]Matthew and Micah are big proponents of working with coaches and calling in reinforcements who can truly add value to your work and business. Colleen from Q2 consulting is taking the place of Micah this episode because she has some really helpful insight on building great teams. Matthew and Colleen discuss how business owners should work and particularly how to work with your team. You can find show notes and more information by clicking here: https://bit.ly/32mBezX
2020-03-0630 min
The Perfect RIARunning a Virtual Team [Episode 49]How do you run a virtual team? Today Jamie Shilanski (Micah's sister) joins the show to share how she does such a phenomenal job managing a virtual office and how the team dynamics work when half the team is in the office and the other is spread across the country. You can find show notes and more information by clicking here: https://bit.ly/35wPbwm
2019-10-1828 min
The Perfect RIALet's Talk About Taxes! Part 2Key Links [Link Needed for QCD/Tax preparation document Report that Matthew generates for clients. He references that if someone emails Colleen, we can get a sample of it for the show notes around the 12:34 mark of the episode] Gear Up Program to learn about taxes: https://checkpointlearning.thomsonreuters.com/GearUp Bob Keeblers site for education resources: http://www.keeblerandassociates.com/about Ed Slott's website for resources: https://www.irahelp.com/ Michael Kitces' site: https://www.kitces.com/ ---- Important Show Note/Disclaimer: When Micah discussed doing paperwork for ROTH conversions/rollovers, he was referring...
2019-04-2629 min
The Perfect RIALet's Talk About Taxes!Key Links Micah's appearance on Michael Kitces' podcast: Adapting the 4-hour work week ---- Matthew and Micah are of the opinion that an expertise in tax planning (not preparation as is accentuated in the episode) is an essential base of knowledge to cultivate for all financial advisers. As they both elaborate, it would be a case of gross negligence to neglect discussions of taxes with clients. In fact, Micah says that taxes are the biggest expense for any client. So you should invest considerable effort in tax planning. This begs the...
2019-04-1232 min
The Perfect RIATo Fee, or Not to Fee?Key Links Micah's appearance on Michael Kitces' podcast: Adapting the 4-hour work week Joe Lukacs' website: http://practicepower.net/ ---- Some common questions that Matthew and Micah encounter are: "should I charge a commission? What about a planning fee? How much of a percentage should I take for that?" And so forth. If you can think of any variation of question regarding fees, Matt and Micah have been asked it. And so in turn, to set your mind at ease, they spend the entirety of this episode setting up simple systems...
2019-03-2930 min
The Perfect RIAAccount Minimums as a Metric for Finding Ideal ClientsEvery advisor doesn't necessarily need to establish a clear-cut account minimum for their clients. In fact, Micah Shilanski doesn't have one in his practice. He has a system of fees in place which function in a very similar way. But for those who do establish account minimums, like Matthew Jarvis, this all-important number will guarantee, at the very least, the growth of your practice. To ensure that you practice what Matt and Micah consider to be one of the most important facets of the industry, they provide some great advice on the topic through these...
2019-03-1527 min
The Perfect RIATips to Maximize Your Return on TimeKey Links Book that Micah references: Digital Minimalism by Cal Newport Time blocking series by Matt and Micah: https://theperfectria.com/time-blocking/ 4-Hour Workweek by Tim Ferriss ---- Matt and Micah are here to talk about the importance of what they define as 'return on time'. It's a concept set in place to ensure that time is spent growing revenue. Because revenue and growth are both extremely important for the longevity of your firm, your time should be spent accordingly. To calculate your return on time, Matt simply divides the amount...
2019-03-0133 min
The Perfect RIAStop Pretending to WorkKey Links Book referenced in this episode: Eat That Frog! by Brian Tracy ---- Matt and Micah are tired of well-worn assumptions about advising. In particular, about how lifestyle advisors are lazy by nature. On the other end of the spectrum, many think the job should entail 60+ hour work weeks. Both are wrong. It's not about the time spent, but how effective the time was used. Matt and Micah have four words of advice to give to advisors: quit pretending to work. The hosts lay the issue to rest...
2019-02-1527 min
The Perfect RIATalking Points for True Communication with ClientsKey Links Books referenced in the episode: Extreme Ownership || The Dichotomy of Leadership by Jocko Willink and Leif Babin The Five Love Languages by Gary Chapman ----According to both Matt and Micah, to truly know your clients, you have to put these key principles to use in your practice: [#1 Learn The Communication Styles of Your Clients and Team] According to Micah, there are about 15 different communication styles out there, but he personally likes to use 4 styles that he and his team attribute to clients and each other: these are the Driver, Analytical, Amiable, and...
2019-02-0128 min
The Perfect RIACoaching Your Clients Off the LedgeThe Perfect RIA hosts have a few action items for delicately dealing with clients during rough financial climates and circumstances. [#1 Let Clients Frame the Conversation] Let the client direct the subject of conversation during meetings. This way, you let the client bring information to you: concerns, figures, facts, charts, you name it. The point being that you can let clients take the wheel and frame the conversation. Don't jump to conclusions! This goes with the aforementioned information; making sure you understand the client's concerns first, and then responding accordingly, is very important. You can then redirect...
2019-01-1836 min
The Perfect RIA5 Business Lessons Learned From Disney WorldAlthough Matt and Micah realize that vacation is a time for much needed R&R, they couldn't help but notice the strong business practices of Disney during their time at Disney World. This episode is the product of their seizing an opportunity to appreciate some intelligent business principles at work. This episode is thus solidified around 5 central tenets from the Disney World business model that were gleaned during their vacation. ----According to both Matt and Micah, the five biggest business takeaways are as follows: [#1 Voluntary Transactions] Disney World is expensive, but they...
2019-01-0436 min
The Perfect RIAWhen, Why, and How to Fire a ClientLet's face it; sometimes partnerships sour. In all vocations, all industries, differences arise between individuals. And for something as valuable as the dynamic between advisor and client, sometimes firing clients is an absolutely necessary action. If an RIA is using time on a client that is less than ideal, that dynamic should be reconciled. Anything but the garnering of massive success for both client and advisor is a recipe for a stagnant practice. So, by necessity, Matt and Micah gather their resources and experiences to walk listeners through the when, why, and how of firing clients. Matthew...
2018-12-0753 min
The Perfect RIAA Roadmap for a Value-Driven Financial PlanKey Links Episode 5: Always Take the High Road -------------------- Financial Planning Software is scrutinized in this episode. But right away, Matt and Micah are sure to remind listeners that they aren't completely condemning the technology, just encouraging less of a reliance on the tool. It is certainly true that a lot of planners are required to use some sort of financial software for compliance requirements or for the more detailed reports that clients may ask for. Yet, Matt and Micah still usually don't put a lot of stock in the software's potential to...
2018-11-2346 min
The Perfect RIARealistic Ruminations on Broker-DealersThis episode is, as the title suggests, all about broker-dealers. And more specifically, Matt and Micah draw from personal experience to allow listeners to gain their perspectives on the issue. Because both have worked with broker-dealers closely in the past, they know the ins and outs of what to look for in the partnership. They highlight some of the pros and cons to assure listeners that there are many factors one has to weigh in order to make the decision that makes the most sense for your firm: either parting ways or sticking with a broker-dealer is a matter...
2018-11-0944 min
The Perfect RIACoach Joe Lukacs RevisitedKey Links Magellan MasterMind & Network: Page The financial advising program that Matt references: Academy of Preferred Advisors ----------------- In this episode, the dynamic duo, Matt and Micah, are back to talk about their previous episode with Joe Lukacs. Because of time constraints in addition to the importance of the subject material, Matt and Micah (M&M) wanted to take a whole episode and analyze the insights and principles that "Coach Joe" introduced to listeners. They also express a "hindsight is 20/20" type of regret for these concepts they wished they had known about and implemented in...
2018-10-2641 min
The Perfect RIAFrom Scarcity to Prosperity: Insights and Advice from Coach Joe LukacsKey Links The financial advising program that Matt references: Academy of Preferred Advisors Joe's free program: PracticePower International Performance Group: Website Magellan MasterMind & Network: Page ---------------------------- Micah Shilanski's coach for the better part of fifteen years, Joe Lukacs, is the guest of this episode. And within the time allotted, Joe disrupts the usual gamut of topics discussed for some interesting insights he has gained over the years. One of the first topics that he brings up is boredom. More specifically, how a coach can handle the boredom brought upon by holding too comfortable a position...
2018-10-1256 min
The Perfect RIAThe Pitfalls of Busyness: How to Alter Your Shopkeeper MentalityTo start this episode, Micah Shilanski provides a very valuable comparison between the mentalities of a shopkeeper and a CEO. He starts this way to illustrate the often erroneous assumption that many business owners make about the amount of time they should devote per day to their practice. Workdays start to become these open-to-close events that are very quantity-over-quality phenomenons. Instead, there is an incessant need to optimize days like a visionary or CEO would; doing things efficiently will ultimately transcend the quantity of hours spent. Micah also points out that having a shopkeeper mentality doesn't make much sense...
2018-09-1425 min
The Perfect RIAA Primer for Determining Your Fee ScheduleKey Links Math Diagram -------------------------------------- As the title states, this episode is all about determining a fee schedule for clients—that is, what a fair rate to charge clients for services rendered should be. Instead of making it complicated, both Matt and Micah stress over and over again that simplicity is key when it comes to your fee. Also, just as important as simplicity, is the cost-value structure that you set up. This isn't as complicated as it seems. What is meant by cost-value structure is determined by what your goals are. If yo...
2018-08-1732 min
The Perfect RIAAlways Take the High RoadKey Links Book Referenced by Matt and Micah: Selling the Invisible ---------- "It takes 20 years to build a reputation and five minutes to ruin it." This quote from Warren Buffet frames the whole episode. And by using this as a tool for showing just how important reputation can be, hosts Matthew Jarvis and Micah Shilanski chronicle the instances in their lives where reputation has generated large ripples in one way or another. Be it, a firm tarnishes their own reputation because of charging money for "services rendered," even though the "services"...
2018-08-1033 min