Kitces and Carl - Real Talk for Real Financial Advisors

How Do You Protect Your Own Confidence As A Financial Advisor?: Kitces & Carl Ep 36

Favorite Questions To Ask A Prospective Client To Build Trust In The First Meeting: Kitces & Carl Ep 35

Are We Making Financial Advice & Portfolios More Complex Than They Need To Be?: Kitces & Carl Ep 34

Triaging Clients Efficiently Through Critical Financial Care: Kitces & Carl Ep 33

Communicating Triggers And Breaking The News The Plan Has To Change: Kitces & Carl Ep 32

Maintaining Personal Advisor Wellness In Times Of Market Stress: Kitces & Carl Episode 31

Conveying Rational Overconfidence In Talking To Clients About Coronavirus Fears: Kitces & Carl Ep 30

The Epidemic of Spending at Unsustainable Rates: Kitces & Carl Ep 29

Email Productivity Hacks And Getting More Done In Your Day: Kitces & Carl Ep 28

Handling The 'Required Minimum' Conversation Without Being Awkward: Kitces & Carl Ep 27

Talking Clients Out Of The Bunker Portfolio: Kitces & Carl Ep 26

The Overconfident Conversation And Walking Clients Back From The Greed Ledge: Kitces & Carl Ep 25

Improving Work-Life Balance In 2020 And Giving Yourself Permission To Rest: Kitces & Carl Ep 24

Following Through On Your Business Creativity By Saying 'Yes' And Figuring It Out Later: Kitces & Carl Ep 23

Simplifying Your Life By Building Habits And Kitces Travel Tips: Kitces & Carl Ep 22

Do You Have To Build Confidence Before Taking Action, Or Take Action To Build Confidence?: Kitces & Carl Ep 21

Is A Fiduciary Requirement Necessary When Acting In Clients' Best Interests Is Good Business Anyway?: Kitces & Carl Ep 20

In our 20th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards discuss why a fiduciary rule is necessary even though acting in your client’s best interests is already “good business” in the long run, how real financial advisors are at a competitive disadvantage against those who really are just out to make the next buck as quickly as possible, and how advisors have a duty to spread the word about what it means to be a fiduciary.

Is Any Financial Advisor Business Model Truly Conflict Free?: Kitces & Carl Ep 19

In our 19th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards talk about these conflicts of interest, and the dilemma that financial advisors face when determining where to draw the line between a ‘manageable’ conflict of interest and one that is ‘unmanageable.’

Talking Clients Off The Ledge From 'Scary' Markets: Kitces & Carl Ep 18

In our 18th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards extend their last podcast and look at communication strategies advisors can use to set the stage for helping clients actually make better decisions after ‘talking them off the ledge’, using a three-part pyramid framework: the Plan, at the foundation of the pyramid (representing the financial plan itself that was developed around the client’s personal values and goals); the Process, i...

Responding With Empathy When Clients Call About “Scary” Markets: Kitces & Carl Ep 17

In our 17th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards talk about the importance (and challenges) of responding with empathy to clients who are upset or afraid. Because even though research in behavioral finance has helped us better understand the natural human proclivity to make irrational decisions, especially in times of stress and fear, the objectivity with which these paradigms have been created has perhaps unwittingly made it too e...

Helping Clients Understand What It Really Means To Retire: Kitces & Carl Ep 16

In our sixteenth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards explore different ways advisors can frame their conversations with clients when helping them envision and plan for a retirement they can actually look forward to, how to integrate relevant “what if” scenarios for a client that can help them truly understand the range of options available that they may not have otherwise thought possible, and practical ways to ask questions in a ...

Why Are We So Afraid To Just Listen: Kitces & Carl Ep 15

In our 15th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss the value of really listening to clients, and how, by simply talking less and listening more in client meetings, an advisor can improve the chances that a client will stick to their plan.

Projection-Free Financial Planning To Avoid A False Sense Of Precision: Kitces & Carl Ep 14

In our 14th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards  explore the various functions that a physical financial plan deliverable plays in the financial planning (and client relationship trust-building) process, share their viewpoints on how written financial plans can be used effectively to help clients, and discuss what ultimately matters most for clients, regardless of whether their financial plan is one page or requires a 2” binder an...

The Better Way To Send Market (And Other) Commentary Emails To Clients: Kitces & Carl Ep 13

So, in our (lucky) 13th episode, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss why it’s important to send regular commentary, provide a specific example of an easy and effective way to let clients know that you are thinking about them and their challenges, and why it matters so much that it ultimately comes from you (versus any number of white-labeled, off-the-shelf offerings).

Communicating With Clients To Bring Them Under The Cone Of Trust: Kitces & Carl Ep 12

For our 12th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss if sending market commentary to clients actually helps solve any problems (or if it’s just a relic of a product-centric industry), what sorts of clients benefit the most from proactive communication (and why), and ultimately, why sending investment market commentary to clients may be a good thing to do… even if the majority of your clients never even read it!

What Do You Call Yourself - Planner, Advisor, Industry, Profession: Kitces & Carl Ep 11

In our eleventh episode of “Kitces & Carl”, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss the roots of various industry titles, why you might want to break the mold and call yourself something completely different (or not), and why the choice ultimately boils down to whether or not what you call yourself resonates with your target clientele.

Transitioning Long-Standing Clients To Create Room To Grow: Kitces & Carl Ep 10

In our tenth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss some reasons you may need to start transitioning long-standing clients (some of whom may have given you a shot early on when no one else would, but consequently pay you far less than what it takes to service them) to make room so you can help others, some practical steps for communicating such a transition to those clients, and why arguably it’s your duty to do...

How Do You Optimize Your Practice To Maximize Your Happiness As A Financial Advisor?: Kitces & Carl Ep 09

In our ninth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss why some advisors wind up being unhappy in an otherwise “successful” practice, how some advisors have maximized their happiness by being intentional about building their business the way they want - or even “right-sizing” the advisory practice if necessary – and a few actionable ideas for advisors to do the same.

What Would You Do With Your Time If You COULD Be More Productive As A Financial Advisor?: Kitces & Carl Ep 08

In our eighth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss how financial advisors are spending their time, strategies that can help advisors focus more on what they’re best at… and what might be accomplished by increasing your business (and personal) efficiency in the first place.

Authenticity Vs. Professional Credibility And Admitting Your Own Financial Sins: Kitces & Carl Ep 07

In our seventh episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to debunk some long-standing myths around what it really means to be a “credible” financial advisor, why authentically owning up to your personal financial mistakes actually helps build trust and credibility (and might even end up helping you gain new clients), and why being relatable as a human being (who makes mistakes from time to time) may be one of the more important...

Building Resiliency For The Stress Of Being A Financial Advisor: Kitces & Carl Ep 06

In our sixth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss proactive steps advisors can take to prepare themselves to deal with and manage the stresses inherent in being a financial planning professional, some common but less-well-known sources of advisor stress, and how a subtle shift in mindset can help advisors make self-care a priority.

Do Clients Really Value Getting Help Managing Their Behavior Gap?: Kitces & Carl Ep 05

In our fifth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of whether advisors should even bother trying to communicate the value they provide when helping clients manage their “behavior gap”, why attempting to convince prospects that you can help them manage their behaviors is perhaps an uphill battle, and how maybe the best way to overcome the behavior gap (and the perceived value of getting help with the ...

Does Social Media Really Matter For Financial Advisors?: Kitces & Carl Ep 04

In our fourth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of the extent to which financial advisors should or “have to” participate in social media (or not), why it might be a worthwhile endeavor if done correctly, some ideas that advisors can use immediately to get more out of their social media efforts, and why, ultimately, using social media successfully is ultimately about a series of “micro interactio...

The Importance Of Likability As A Financial Advisor: Kitces & Carl Ep 03

In our third episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of how important it is to be “likeable” as a financial advisor, why being your “authentic self” when it comes to communicating and interacting with clients might matter more, and why it’s important for newer advisors to avoid sending mixed signals to clients when trying to differentiate themselves.

How To Price Your Financial Planning Services: Kitces & Carl Ep 02

In our second episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of establishing a price for your financial planning services, why many advisors feel such anxiety over setting (and sticking to) their pricing model, the ways in which advisors can communicate their value to prospects and clients to justify their price, and why, many times, problems around pricing are really the result of our own inward confidence p...

Thinking About The Value Of Financial Planning: Kitces & Carl Ep 01

Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss industry topics from their own unique perspectives. And in this inaugural episode, Michael and Carl talk about the Value of Financial Advice, efforts to quantify that value, and why we may need to move past the asset-based model in order to define and communicate the real value of financial planning to our clients and the public in general.