In this weekly recap, Amber Kuhn highlights financial history and strategic goal achievement. On Monday, Mark Higgins, author of "Investing in US Financial History," joined Matt to offer a profound perspective on understanding market dynamics through historical context. Mark emphasizes that true financial wisdom comes from understanding historical patterns without falling into the trap of believing "this time it's different."

On Thursday, Jamie brought an equally transformative message about goal setting that goes far beyond typical motivational rhetoric. Her core philosophy cuts to the heart of personal and professional development: a goal without a plan is merely a wish. She challenges setting goals that are genuinely intimidating – ones that make you uncomfortable and push you beyond your comfort zone. The key, she argues, is not just in setting ambitious targets but in creating deliberate, specific action plans with clear responsibilities and deadlines.

Resources in today's episode:

- Episode Website - The Role of History in Financial Advising With Guest Mark Higgins - Encore Episode: Goal Setting

In this episode, Jamie Shilanski demolishes the myth that goals are just wishful thinking. She cuts through the noise with a message that true success isn't about dreaming—it's about doing. Jamie challenges financial advisors to move beyond vague aspirations and craft meticulously designed roadmaps that bridge the gap between where they are and where they want to be.

Diving deep into the psychology of achievement, she unpacks the critical importance of creating specific, actionable goals that go far beyond mere hope. Her insights reveal how successful financial advisors transform abstract dreams into concrete plans, complete with measurable milestones and strategic checkpoints.

Encore Episode: Goal Setting

In this episode of The Perfect RIA podcast, Matthew Jarvis sits down with Mark Higgins, the author of 'Investing in U.S. Financial History.' Mark brings a treasure trove of knowledge, unpacking how understanding the financial past can be your crystal ball for navigating today's economic maze. From the intricate web of national debt to the future of entitlements, the conversation peels back layers of economic complexity that most advisors never explore. Listen in to discover how historical perspective can be your most powerful investment strategy because in the world of finance, those who understand the past are uniquely positioned to conquer the future.

The Role of History in Financial Advising With Guest Mark Higgins [Episode 287]

Resources in today's episode:

- Matt Jarvis: Website | LinkedIn - Mark Higgins: Book | LinkedIn | Newsletter | IFA Institutional

In this weekly recap, Amber Kuhn highlights fee management and strategic business planning. On Monday, Matthew Jarvis was joined by Lacey Shrum from Smart KX to explore the often-overlooked art of billing and fee collection. They revealed that many advisors underestimate their value, leaving money on the table through inconsistent billing practices and fear of raising fees.

On Thursday, Jamie recommended taking a strategic approach to year-end business planning. She introduced the "3 Ps" client evaluation method: assessing clients' personability, productivity, and profitability. Jamie broke down essential metrics for financial practices, including pipeline analysis, client account sizes, and critical financial calculations like EBOC (Earnings Before Owner Compensation) and EBITDA.

Resources in today's episode:

- Episode Website - Fee Billing Faux Pas: How Advisors Lose Money Without Realizing It With Guest Lacey Shrum [Episode 286] - Show Me Your EBITDA

In this episode, Jamie Shilanski delivers a masterclass in strategic business planning that's sure to resonate with financial advisors looking to transform their practices from good to extraordinary. Diving deep into the art and science of year-end business planning, Jamie unpacks the critical components that separate thriving practices from merely surviving ones.

Jamie provides a comprehensive guide to financial advisor success, revealing how understanding key performance indicators (KPIs) can be the secret to operational excellence. At the heart of the discussion are crucial financial metrics like EBOC (Earnings Before Owner Compensation) and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). These aren't just fancy acronyms—they're powerful tools that offer a crystal-clear view of a practice's financial health and operational efficiency. Jamie challenges advisors to treat their own business with the same meticulous planning they apply to client portfolios, creating a culture of accountability and strategic growth.

Show Me Your EBITDA

Resources in today's episode:

- Year-End Business Planning How To

In financial advising, leaving money on the table isn't just a rookie mistake—it's a potential career killer. Matthew Jarvis and Lacey Shrum from Smart KX dive deep into the treacherous waters of advisor fee billing, exposing the hidden pitfalls that can sink even the most well-intentioned financial professionals.

Imagine this: an advisor ends up behind bars, not for financial fraud, but for a simple Excel billing error. It sounds like a cautionary tale, but it's a real-world warning about the dangers of manual fee calculations. The episode reveals how seemingly innocuous billing practices can lead to significant risks, from unintentional overbilling to accidentally shortening your bottom line.

The discussion goes beyond mere number-crunching, addressing the psychological hurdles advisors face when implementing fee changes. It's not just about the math—it's about understanding the true value of your work and communicating that value to clients.

Fee Billing Faux Pas: How Advisors Lose Money Without Realizing It With Guest Lacey Shrum [Episode 286]

Resources in today's episode:

- Matt Jarvis: Website | LinkedIn - Lacy Shrum: Website | LinkedIn

Ever wondered how Edward Jones grew to $2.1 trillion without giving away the keys to the kingdom?  In this recap episode, Amber shares highlights on how you can learn from others' success and how to really plan for the next year. On Monday, Matt and Micah discussed scaling your practice beyond the mythical "150-client ceiling" and challenged the "financial hobby" mindset, proving that success isn't just about throwing shade at industry giants—it's about stealing their secrets (legally, of course). 

On Thursday, Jamie swooped in with a year-end planning episode that'll make spreadsheet skeptics weak in the knees. From converting prospects into clients faster than a compliance officer can say "no" to transforming your practice to a powerhouse, this episode is packed tighter than a financial advisor's calendar during tax season.

Resources in today's episode:

- Episode Website - Compliance ‘Adverse’ [Episode 285] - Year-End Business Planning How To

In this conversation, Jamie Shilanski pulls back the curtain on the ride of entrepreneurship in the financial advisory world. But it's not all spreadsheets and dollar signs. Jamie gets real about the elephant in the room: imposter syndrome. Her solution? Radical transparency and a healthy dose of authenticity – because even the pros were rookies once. Jamie emphasizes that success in financial planning isn't just about knowing your numbers (though that's crucial). It's about getting your hands dirty with real-world experience and crafting a business plan that's more than just a dusty document in your drawer. Advisors need to deliver consistent value to clients – think less "random acts of financial planning" and more "strategic partnership."

Year-End Business Planning How To

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.

Compliance ‘Adverse’ [Episode 285]

Resources in today's episode:

- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn

Money talks, but sometimes, clients need help finding the right words, and success lies in knowing when to lean in and when to step back. In this recap episode, Amber shares highlights on crypto-curious clients and building your ideal client base. On Monday, Matt and Micah dove into the crypto-elephant in the room: Bitcoin investing. Rather than immediately jumping into a passionate defense (or critique) of digital currencies, they emphasized the importance of first asking, "How much?" Because let's face it - there's a world of difference between satisfying crypto-curiosity with discretionary funds and betting the retirement farm on Bitcoin. 

On Thursday, Jamie dropped wisdom on why being a financial advisor isn't about being everyone's cup of tea. Forget the "everyone with a pulse" approach to client acquisition. Jamie challenged advisors to be more discerning, suggesting that if you're serving everyone, you're really serving no one. She painted a vivid picture of the telltale sign you've got the wrong client: that sinking feeling when you see their name on your appointment schedule. (We've all been there, right?).

Resources in today's episode:

- Episode website - Bitcoin [Episode 284] - Encore Episode: Who Are Your Prospects?

What is the number one rule of prospecting? If you serve everyone, then you serve no one! On today’s Worlds To Conquer, Jamie dives into prospecting and how to make sure you’re working with the right people. She’ll also discuss why once you determine who you work best with, you need to share this with your team.

Listen in as Jamie shares why if you have a great prospecting strategy, you can grow and not stay stagnant, and that it’s important to create an environment where your team can respectfully push back.