Legacy Builders
Legacy Builders podcast is for independent advisors who want more than just a successful practice — they want to build, live, and leave a legacy for their clients, their team, and their families. From accelerating growth and developing NextGen talent, to enhancing client service and planning for succession, every episode offers both big-picture strategy and practical, actionable advice. Designed to help advisors make intentional, values-driven decisions, the show provides the insights and tools you need to design not only a stronger business, but also a more meaningful career. Content provided by Advisor Legacy and podcasts generated using...Show more
All Episodes
10 Steps to Practice Profitability and Sustainable Growth
In this episode of Legacy Builders, I explore the intricate balance between growth and profitability in financial practices. The episode, titled "10 Steps to Practice Profitability and Sustainable Growth," challenges the common belief that growth automatically leads to increased profits. I discuss the paradox of how expanding a practice can actually decrease efficiency and shrink profit margins if not managed strategically. By distilling insights from expert sources, I present 10 actionable steps to optimize profitability while maintaining sustainable growth. From understanding financial metrics and setting clear targets to focusing on quality over quantity in client growth and leveraging outsourcing, this episode provides a comprehensive roadmap for financial advisors. Join me as I delve into strategic resource allocation and proactive financial management to build a truly robust and valuable practice for the future.
Sell and Stay: Monetizing Your Practice Before Retirement
In this episode of Legacy Builders, I dive into the strategic world of sell-and-stay arrangements for financial advisors nearing retirement. With a significant wave of retirements looming, it's crucial to monetize the equity in your practice before fully stepping away. I explore how sell-and-stay strategies offer a unique opportunity to secure financial futures while maintaining client relationships. We'll discuss the importance of proactive planning and the risks of inaction, including the five-year myth that can erode your practice's value. Discover how these strategies not only optimize financial outcomes but also enhance quality of life and ensure a smooth transition for clients. Join me as we uncover how to effectively safeguard your legacy and enjoy retirement on your terms.
The Unplanned Exit: Why Financial Advisors Struggle with Their Own Retirement
In this episode of Legacy Builders, we explore a surprising paradox: financial advisors, experts in planning others' retirements, often struggle with their own. Delving into a revealing PDF, we uncover five key reasons behind this dilemma. From deep emotional attachments to their practices and fears of losing control, to financial uncertainties and a lack of time, these challenges are both psychological and practical. We also discuss the intriguing "I'll-never-retire" mindset, which can hinder proactive planning. Join me as we uncover valuable lessons not just for advisors, but for anyone facing major life transitions. Discover how taking control and planning ahead can preserve your legacy and ensure a smoother journey into retirement.
Beyond the Buzz: Debunking Financial Practice Sale Multiples
In this episode of Legacy Builders, titled "Beyond the Buzz: Debunking Financial Practice Sale Multiples," I dive into the myths and realities of selling a financial practice. We often hear about sky-high multiples like 4X or 5X revenue, but how accurate are these figures? I explore the critical role of cash flow in determining true practice value and why unrealistic expectations can stall deals. By examining comprehensive research and real-world data, I aim to equip you with the insights needed to navigate practice sales effectively. Join me as we separate fact from fiction and uncover what truly drives value in financial practice sales.