The Indie Advisor

By: tru Independence
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  • Summary

  • The Indie Advisor is a podcast about financial advisors’ entrepreneurial drive for independence and freedom. In each episode, we unpack the most important lessons and strategies for building highly efficient and successful firms. From big picture vision to practical tools and processes, The Indie Advisor will help you skip the status-quo, and forge your own path to success. See how independence can revolutionize your life. Brought to you by tru Independence.
    Copyright tru Independence
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Economics Leadership
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Episodes
  • Developing the Next Generation of Business Leaders with Laurie Nichols

    Developing the Next Generation of Business Leaders with Laurie Nichols
    Jul 12 2022
    As the next generation of leaders takes the reins of businesses and organizations, they have to be prepared for the challenges ahead. Though they tend to have different values and priorities than their predecessors, what can they do to become successful leaders in their organizations? In this episode, Craig talks with Laurie Nichols, Succession Planning and NextGen Development Coach at Laurie Nichols Coaching and Consulting. With more than 30 years of experience in financial services and as a Certified Professional Coach, Laurie helps owners create and communicate their vision to nextgen professionals and motivate their successors to feel confident in their role and the future of the business. Laurie talks with Craig about what motivates her to practice coaching, how founders can prepare for business and leadership transitions, and what the key components are for developing nextgen advisors. Key Takeaways [03:11] - What motivates Laurie to practice coaching. [08:09] - What makes people want to reach out to Laurie. [10:39] - Laurie's perspective on nextgen successors taking over the firm. [14:24] - How founders can prepare for business and leadership transitions. [19:08] - The dynamics of adapting old-school business strategies to new technologies. [22:07] - Key components for developing nextgen advisors. [26:34] - How Laurie helps owners and nextgen leaders align their visions. Quotes [13:21] - "Communication, engagement, and professional development are what it takes to have a win for the owners, a win for the nextgen successor in the team, and a win for clients." - Laurie Nichols [23:04] - "No matter what your title is today, you start being the leader. It doesn't mean that you’re the boss, you get final decisions on anything in particular, but it's how you show up." - Laurie Nichols [23:34] - "Developing your skills in communicating with intention around your needs helps to break the pattern of ‘conflict avoidance’ because candor is not conflict." - Laurie Nichols Links  Laurie Nichols on LinkedIn Laurie Nichols Bank of America Connect with our hosts Craig Stuvland tru Independence Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts TheIndieAdvisor.com Interested in going independent? Are you interested in going independent, or increasing your independence? Is the process of trying to do it all by yourself overwhelming? tru Independence has the solution. Between our flexible tech stack, growth-oriented services, and a dedicated compliance team that stands in your corner - partnering with tru gives you what you need to efficiently achieve your dream of independence. Stop worrying about what's holding you back. Talk with tru today. Visit tru-ind.com. 
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    34 mins
  • Best Practices for Optimizing Business Performance with Craig Butler

    Best Practices for Optimizing Business Performance with Craig Butler
    Jun 14 2022
    Today's rapidly changing business landscape necessitates speed and agility — a lone wolf can no longer survive. The most successful businesses are the ones that have the right team in place. Of course, not every business has the luxury of hiring employees with all of the required skills.  In this episode, Craig talks with Craig Butler, Chief Growth Officer and Managing Partner at tru Independence. With nearly three decades of working directly with advisors, Craig has developed extensive knowledge and expertise around how to optimize business performance and enterprise value. Craig is currently engaged in multiple professional roles at tru, including business strategy, innovation, and business development. He is the architect of the tru Advantage practice management program designed to help advisors transform their financial practices into high-performing businesses. A Certified Birkman Consultant and a Certified Journey Business Coach, Craig talks about his best practices for coaching business teams, the importance of delegation to business growth, and the mindset advisors must have before going independent.   Key Takeaways [01:41] - Craig's rich history in wealth management. [02:54] - Why Craig is passionate about working with independent RIAs. [04:14] - Craig’s best practices for coaching business teams. [06:56] - How advisors can build the best client experience. [09:58] - How the pandemic has affected client experiences in advisory firms. [11:50] - The importance of delegation in business growth. [18:11] - What drives wirehouse financial advisors to become independent. [21:44] - How Craig provides value to independent advisors. [24:47] - The mindset advisors should have before going independent. [30:27] - Craig's favorite authors and mentors. Quotes [05:46] - "I think understanding the unique personality of everybody on a team is important to understand the organizational strengths. What they bring to the table needs to be leveraged appropriately and understanding what motivates and drives them." - Craig Butler [06:38] - "I'm a big believer that you can't have a great business unless you have a great team. I've never seen a great business that doesn't have a great team to support it." - Craig Butler [15:04] - "People think they're going to save money by trying to do all the other kinds of things on their own without hiring the right staff. But ultimately, the opportunity costs are very high in a scenario like that." - Craig Butler Links  Craig Butler on LinkedIn Craig Butler Email  Craig Butler mobile number: 770 656 7212 The Birkman Method Richard Branson The Virgin Group | Virgin The Heart of Mentoring Connect with our hosts Craig Stuvland tru Independence Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts TheIndieAdvisor.com Interested in going independent? Are you interested in going independent, or increasing your independence? Is the process of trying to do it all by yourself overwhelming? tru Independence has the solution. Between our flexible tech stack, growth-oriented services, and a dedicated compliance team that stands in your corner - partnering with tru gives you what you need to efficiently achieve your dream of independence. Stop worrying about what’s holding you back. Talk with tru today. Visit tru-ind.com.
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    34 mins
  • The Legal Guide to Starting an Independent Advisory Business with John Davis

    The Legal Guide to Starting an Independent Advisory Business with John Davis
    May 10 2022
    Creating an independent advisory business can be a great way to break into the industry and provide clients with personalized services. It is, however, a complex process that requires a number of legal decisions, especially when starting from scratch. In today’s episode, Craig talks with John Davis, Attorney and Partner at Lynch Conger McLane. In his role, John helps people start businesses, run them effectively, and pass them on to the next generation. As a result of his achievements in legal practice and recognition from peers, he was named a Super Lawyers Rising Star from 2014-2018. John talks with Craig about the three important things to keep in mind when going independent, what advisors need to know when deciding on the firm structure, as well as specifics on how to protect the business. Key Takeaways [01:41] - Three things to keep in mind when going independent. [06:26] - Who owns the enterprise value [08:04] - What advisors need to know when deciding on the firm structure. [13:56] - What individuals and teams need to consider when naming their organizations. [19:22] - The general rules of thumb for growing a business. [23:14] - The other nitty-gritty parts of going independent. [29:19] - How much time does it take to prepare and launch an advisory business? [31:56] - A range of expected costs for setting up a new company. [34:59] - John's advice for anyone interested in going independent. Quotes [13:07] - "It's really almost impossible for the CPA and the lawyer to tell what's the right entity decision until the advisor knows the answer to the first three questions—how are we going to pay ourselves, who controls what, and who owns the value of the business?" - John Davis [18:27] - "It's worth picking a name that doesn't have a conflict. And then from the get-go, seeking federal trademark registration." - John Davis [21:55] - "CPAs often are your best friend. As a team, have a great relationship with a CPA and regularly review your tax situation. Sometimes you can just see your CPA as a tax preparer but you can ask them to be a business advisor." - John Davis Links  John Davis on LinkedIn Lynch Murphy McLane Connect with our hosts Craig Stuvland tru Independence Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts TheIndieAdvisor.com Interested in going independent? Are you interested in going independent, or increasing your independence? Is the process of trying to do it all by yourself overwhelming? tru Independence has the solution. Between our flexible tech stack, growth-oriented services, and a dedicated compliance team that stands in your corner - partnering with tru gives you what you need to efficiently achieve your dream of independence. Stop worrying about what’s holding you back. Talk with tru today. Visit tru-ind.com. 
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    40 mins

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