Navigating Client Mistakes: A Guide for Advisors [Episodes 316]

In this encore episode, Jamie discusses the importance of surge in her financial advisory practice and how it helps them deliver deep-focus work. The conversation then shifts to the benefits of having a hybrid office, the value of hiring military wives and dependents, and the positive impact they have on their team. Jamie then shares the importance of accountability and radical candor in their office culture, especially when mistakes are made. She emphasizes the need for transparency and accountability for mistakes to maintain client trust and satisfaction. Encore Episode: How Are You Accountable When You Make a Client Mistake?

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.

In this encore episode, Matthew Jarvis sits down with industry veteran Ted Jenkin to demystify practice valuations for financial advisors. Ted shares the common misconceptions and the stark difference between a valuation and the actual market price a business can command. Ted also discusses his wisdom on the critical factors that shape practice valuations, including the oft-overlooked elements of culture, money management prowess, and brand equity. He also sheds light on the pivotal role of cash flow velocity and stock growth trajectories, elements that can make or break a potential sale. Whether you’re a financial advisor contemplating an exit strategy or simply seeking to futureproof your practice for sustainable growth, this episode is an absolute must-listen. Encore Episode: Accelerating Your Growth and Understanding Practice Valuations with Guest Ted Jenkin   Resources in today's episode:   – Matt Jarvis: Website | LinkedIn – Ted Jenkin: LinkedIn | Website

In this episode of the Perfect RIA Podcast, Matthew Jarvis and Jerome Myers delve into the complexities of business exits, exploring the psychological aspects of attachment styles and their impact on financial advisors. They discuss the inevitability of exiting a business, whether through selling, giving away, or closing it, and emphasize the importance of having a post-exit plan. Jerome introduces his concept of the 'Five Scars of Success,' which highlights the emotional and psychological challenges faced by entrepreneurs. The conversation underscores the need for advisors to understand their attachment styles and how these influence their business decisions and client relationships. From Business to Freedom With Jerome Myers [Episode 315] Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Jerome Myers Website | LinkedIn  

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 pitfalls that trip us up when trying to make content or improve our outreach and discuss how important it is to play the long game, measure your input first, notice small things that make a big difference, and more. Encore episode - Why Don’t I Have More Prospects?!? Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn

In this episode of the Perfect RA Podcast, host Matt Jarvis speaks with his brother, Steven Jarvis, CPA, about the intricacies of auditing in mergers and acquisitions (M&A) deals. They discuss the importance of accurate financial reporting, the nuances of EBITDA, and the potential red flags that can arise during the due diligence process. Steven emphasizes the need for financial advisors to maintain clean books and be transparent about their financials, as this can significantly impact the valuation of their practice during a sale. The conversation also touches on the buyer's perspective, the consequences of misleading information, and best practices for running a business effectively. Unlocking Value in M&A Transactions With Steven Jarvis [Episode 314] Resources in today's episode: - Matt Jarvis: Website | LinkedIn - Steven Jarvis: Website | LinkedIn  - THE SUMMIT

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 how to smooth out discussions and give clients confidence in their retirement. Encore Episode: You Said What In A Client Meeting?!  Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn

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 | LinkedIn  

Client 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 how to set realistic expectations with your clients. You will learn how to revolutionize your practice through effective communication, the importance of considering how much time a client actually takes out of your working hours, and how to respectfully “retire” clients. Encore episode - Client Segmentation Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn

In this episode of the TPR Podcast, Matthew Jarvis and Peter Velardi discuss the evolving landscape of financial advisory practices, particularly the impact of private equity on the industry. They explore the shift from traditional independent practices to a more consolidated model, emphasizing the importance of understanding the true value of financial practices and the necessity of risk management. The conversation highlights the current market dynamics, the need for advisors to adapt to changing conditions, and the importance of seeking professional guidance in navigating these complexities. Navigating the New Era of Financial Advisory With Peter Velardi Resources in today's episode: - Matt Jarvis: Website | LinkedIn- Peter Velardi: Website | LinkedIn - Get your practice valuation here