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The Model FA

Oct 21, 2019

My guest today is Josh Patrick. Josh is a Certified Financial Planner®, a Certified Financial Transitionist®, a Chartered Financial Consultant®, a Chartered Life Underwriter®, a serial entrepreneur, a writer, reader, and a thinker.  Josh Patrick is a contributor to The New York Times’ You’re the Boss blog, as well as the author of Stage 2 blog Creating Value

Josh’s main focus in life is helping private business owners create extraordinary value with their businesses and their lives. He draws on rich life experiences during his almost forty years of working with his favorite people, private business owners, to help them create great outcomes. On his podcast (called “The Sustainable Business”), Josh Patrick interviews thought leaders from many industries to help you think about your business twenty, thirty, or even more years into the future.

In this conversation, we discuss how your firm fits into the future of the financial services industry. I have enjoyed this conversation. The wealth management industry is about as dysfunctional as an industry could be, and without its ridiculous margins most people in this business would fail. Josh Patrick makes a case for niche marketing, and looks forward into the future with ideas on how to make your business sustainable in an industry that’s likely to become even more regulated.  

Don’t miss one of our favorite moments, when Josh breaks down the importance of mind-mapping to define the kinds of clients you should be working with. It’s a simple exercise that you can do on a piece of paper right as you listen to the podcast, and it might turn out to be the most valuable thing you’ve done for your business this year.  Do you have the mindset that you can’t afford to not service somebody? Or do you have the mindset that you can’t afford to service somebody? How would your capacity grow if you were able to know which clients you should be serving? I hope you will find many practical ideas to try.

Looking for more ideas about video blogging for financial advisors? Join the Model FA advisor community, where you will find expert advice on how to launch, grow, scale, and transform your firm.

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