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Top Advisor Podcast
#100 – From Top Advisor to Industry Leader: Derrick Kinney’s Secrets for Making Competitors Irrelevant and Attracting Clients
00:36:27
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- [00:04]
A
Welcome to the Top Advisor podcast, brought to you by Proudmouse Podrocket Academy. I'm your host, Bill Cates, creator of the Cates Academy for Relationship Marketing. In each episode, I interview one of our industry's top performers, getting them to pass on their secrets to success to you so that you can impact more lives and generate more income. Now onto the show.
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B
Foreign.
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A
Welcome. In today's show, we'll be joined by a former number one ranked financial advisor who shares the strategies that help him rise to the top. So if you want to think a little differently, stand out, grow faster. You won't want to miss this conversation. Our featured guests will show us how a clear what he calls generosity purpose can lead to more business and deeper relationships. And we'll learn why. Why solving problems too quickly may actually work against you, even though you probably see yourself as a problem solver. But before we get going, did you know I have a new book? It's unlike anything I've written before. It's a business parable co authored with Jeff C. West. It's suspenseful, it's insightful, it's surprisingly fun. I'm holding it to the camera. For those of you watching the video, the title is. It's a long one. Are you ready? The Hidden Heist. Stop Robbing yourself of lasting wealth. An irresistible tale of financial redemption. It's the story. It's set in a bumble of bank robberies, so it's a mix of fun and tension. It explores the beliefs and assumptions that keep many from building wealth and seeking financial guidance. And it shares a few essential financial lessons without ever feeling like a textbook. The Hidden Ice can be a great resource for financial professionals, ideal for sharing with clients and their adult children. And you'll be happy to know that the book makes a strong case for working with a trusted advisor like you. Curious? Go to thehiddenhiist.com that's thehiddenheist.com also top advisor podcast is sponsored by the folks at Proudmouth who help advisors increase client engagement and attract more ideal clients. And this specific episode is sponsored by Ironclad Family, who brings you Ivault X, a financial advisor enablement tool focused on upping your game as a holistic advisor. And now on with today's show. My featured guest today is Derek Kinney. I've been following Derek's work for well over a year now, and I can say that he's got to be one of the most trusted and influential business growth experts for financial advisors today. Unlike many coaches and experts in quotes, in our industry, Derek has actually walked the path to success. He also happens to be a fun guy. As you'll see. Derek built and sold one of America's most respected financial planning practices, scaling it to the top 1% of advisory firms. And he is now a go to voice in business and finance. Derek can be seen regularly on Fox News, CNBC and Yahoo. Finance and was named a LinkedIn Top Communication Voice. Derek is also the author of the USA Today and Wall Street Journal bestseller I Got to get the book Good Money Revolution. Holding it up to the camera. Good Money Revolution. And he's a sought after guest on Top Advisor on Top Podcast. Like Top Advisor Podcast. That was a mouthful. Anyway, Derek, Kenny, zooming in from Arlington, Texas. Welcome to Top Advisor podcast.
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B
Bill, it is so nice to be with you. And I gotta tell you, I am super excited about being not only endorsing your book, but getting to read it very, very soon. So I can't wait to be part of the heist.
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A
Well, thank you. And we're here to talk about your book too. Good Money Revolution. I love it. But not just to promote the book. We're here to give value to our listeners. First of all, real quick, number one financial advisor by what ranking? Tell me a little bit about that and then we'll get into some, some questions here.
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B
Yeah, so I was a financial advisor with Ameriprise Financial, a well respected broker dealer for five years. And one of the mantras that I lived by was no fee, no me. And because of that, I was the top fee based advisor at that firm out of 10,000 advisors for many, many years. And I always believe that when people would pay you a fee, they're voting with their dollars. And I loved fee based financial planning. When people put their dollars to it, they're serious about it. And I found they achieved their goals quicker and they enjoy success faster. And I enjoyed working with them more when they were paying me to help them reach those goals.
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A
Yeah, it's the old gym membership phenomenon, right? If you, if you pay to join the gym, hopefully you'll go and take advantage of it. Or if you pay for a coach skin in the game. Right, the old skin in the game thing. So, all right, so 25 years, number one advisor, doing well, probably making pretty good money. So what motivated you to sell your practice and then start a business designed to help other advisors achieve a higher level of success?
- [05:21]
B
Yeah, it sounds pretty crazy, doesn't it? Bring practice. I sell it. People are questioning me. Derek, were you sober when you made the decision I like that.
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A
Right.
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B
Quick story for you, Bill. So I go on a yearly sabbatical. Every year, I take five days completely by myself, typically by the water, and I ask myself three questions. How do I be a better husband? How do I be a better father? And how do I be a better business owner? And one of the things I discovered about myself about 10 years ago, I like to set goals. I like to hard charge. I like to work hard and go to what I want. But I realized if I wasn't clear on exactly what I was running fast toward, I was running fast in a circle, and I couldn't allow myself to do that. So I realized I need to take one week of the year to get clear on what I'm going to run the other 51 weeks of the year toward really fast. So I'm in Boston at the W Hotel. This is July of 2019. And I'm answering those questions, and I feel like I need to write down a list of all the things I would enjoy doing. I wrote down things like write a book, launch a podcast, coach, speak, consult. And, Bill, shockingly on that list, was not being a financial advisor. That's when I knew, and I had felt it for the past couple years. I was loving my clients, loving my team. I loved what I did, But I felt like I was going through the motions. And I had to ask myself, seriously, what does Derek 2.0 look like? And do I want to stay doing what I'm doing, or do I want to take a risk, sell it, bet on myself? And that's what I chose to do, because I felt in my heart I wanted to go bigger. And so I didn't just hand off my practice. I handed it up to a great advisor, a great team. And that was important for me. And I will tell you this, one of the most emotionally draining things I've ever done was calling each of my clients personally to tell them of my decision, and I'll just be vulnerable. It took about a month and a half to do it. On my last call, I wept like a baby. So much emotion. I felt just like, oh, I can't believe I did this. Because it was important for me for every client to feel valued and that I wasn't just kind of just handing them off, but I truly was handing them up to make sure they felt valued and important.
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A
Yeah, that's great. Well, just taking the time out to reflect like that is so important. I know I don't do it enough, so kudos. I know you like to talk about the Quote on an air quotes. For those of you watch not watching the video, the big mistake that you contend most advisors are making, what is it? What it's costing them? How can they stop it? Let's talk about that a little bit.
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B
Yeah, well, let me tell you a quick story. Let's say that you're in a social event and you've got your favorite beverage in your hand, and you're mingling around the room, and a person walks up. A man walks up and says, hey, what do you do for a living? And you say to him, well, I'm a financial advisor. And he says, okay, and doesn't really think much about it. And then you ask him, well, what do you do? And he says, well, I'm a personal trainer. I design workout plans and eating plans so people can look better. Is. And you exchange a few more, a little bit of small talk, and you end the conversation. Well, then later on in the evening, you've got that same beverage in your hand, probably been refilled a couple times. But a woman approaches and she says, hey, what do you do for a living? And you say, well, I'm a financial advisor. And she says, oh, okay. And you say, well, what do you do? And she says, well, you know how busy business owners and professionals, they work hard and put everybody else's needs above their own, but they feel like they're not eating and looking the best they can? She said, I change that for people. I design customized workout and eating plans that fit within their budget and their time schedules so they can feel good, but most importantly, so they can look great and they can be the cool grandparent that has the energy to chase their grandkids across the floor. I specialize in business owner fitness and eating plans. Okay, let's press pause there. So let's say, Bill, a week goes by and you find yourself looking in the mirror and you say, you know what? I need a personal trainer. Which personal trainer would you be more likely to call? The first person you talk to or the last person you talk to?
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A
Most people, yeah. She brought what she did to life and how she described it. Right.
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B
That's exactly. I love how you said that she brought what she did to life. And. And the whole problem there that she solved was she connected with people instantly. She connected with that guy. Yes, that's the exact problem I've got. So the number one mistake that most financial advisors make unknowingly is when they get asked by a prospect, what do you do for a living? They say, I'm a Financial advisor. I'm a wealth planner, I'm a dream funder, whatever they say. And oftentimes you see people's eyes start to glaze over, they start to walk backwards. The look of total boredom comes across their face. The advisor is wondering what the heck happened. All I said is what I did for a living. Problem is you don't know what you're facing. And that is this mental checklist that everyone has inside of them of what they think a financial advisor does. They might be thinking, a financial advisor ripped off my mother in law. I will never use one. I've heard advisors are way too expensive. I, I've heard advisors just sell a bunch of stuff and you don't even know that. And so the fact that you say that, it just connects what they think a financial advisor is. So instead what I teach people is if you want to make it rain, connect with pain. If you want to make it rain, connect with pain. And that is you want to say something to the person that instantly creates a visceral response that makes them say, oh my gosh. Yes, I get that. So here's an example, Bill, let's say I were to say to you, bill, you know how it feels sometimes when you take your car to the mechanic that you're getting overcharged or getting ripped off? See right there. Those of you that can see this, Bill instantly began to nod his head. And the reason why is because it's like, yeah, like all the time. So the key for a successful financial advisor is you want to find the painful problem that your ideal prospect has. And when you state that at the very beginning, it draws them to you and it makes them say, oh my gosh, this person gets me.
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A
So what is, what are a couple, you know hows. That's, that's kind of the, the technique, if you will. You know how what are a couple that advisors might say? That kind of universal stories, if you will.
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B
Yeah, well, I'll tell you my own struggle. The reason I feel so adamant about this is this is what caused me personally to, to feel like I was being overlooked by the high net worth clients I felt like I deserved to work with. And what I landed on was Bill, you know how so many people worry about running out of money in retirement? As I slightly nod my head, they're like, yeah, well, through our three step custom tailored game plan, we craft a strategy that lets them live the life they want so they can have peace of mind and confidence. I'm a personal retirement specialist. Okay, so that's example One. Now, keep in mind, most people, some people say, well, Derek, I work with teachers, I work with engineers. The key is to find what is the common pain point or the problem they will most quickly connect with. Now this, the next one, Bill, is going to sound crazy, but let's say an advisor is really in the upper high net worth space. Now, you want to connect with people on what keeps successful businessmen and women awake at night. So here's an example, Bill. You know how people work so hard to build the business and they put everybody else's needs above their own. One of the biggest worries that business owners have that keeps them awake at night is what if they pass away? Will their kids or grandkids run the business into the ground because they feel so entitled and they haven't worked a day in their life. You say the words entitled, run the business into the ground keeps them awake at night. That endears. They're like, oh, my gosh, yes. And so you haven't said you're a financial advisor at all. But that problem, that pain point, instantly creates this visceral response with a high net worth person that says, oh my gosh, this person gets me. And they assume then that you're the exact person they work with all the time.
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A
And I noticed in your example you said, I'm a personal retirement specialist, right? Is that what you said?
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B
Yes.
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A
So. So you kind of cap the little story, you cap the little example with what you do. But you don't say, I'm a financial advisor. You say what your specialty is. You're. You're a specialist. Now, I know that you compliance departments don't usually allow advisors to say, I'm an expert or a specialist unless they have certain credentials. You can say, my expertise, I specialize. But you did you get away with saying specialist. I guess you did, yeah.
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B
What I would actually say, and I paraphrase there, is, you know, I'm a retirement income specialist. And part of that would be then explaining the background that I have and the clients I worked with. But again, you want to make sure that you're staying tight on compliance. I typically never saw an advisor get in trouble by talking about who they specialize in and who they solve problems for. The key is you want to make sure that you go very, very narrow. And here's an example I would give you, Bill. Let's say that one of our listeners or podcast watchers right now, let's say they've got a shoulder problem and their spouse is on them all the time. You got to go to the doctor and they finally call the doctor, who would they be more likely to call? Would they think to call the general practitioner who knows a little bit about a lot or the shoulder specialist, that all they do 247 is to work on shoulders, Right. Well, they would call the specialist. And when they call the specialist, there's a couple of assumptions they would have. Number one is it's probably going to take a long time to get in to see him or her. It's also probably going to cost me more than I would for my general practitioner. And you know what, Whatever the doctor tells me to do, I'm going to listen closely because I'm probably going to do exactly what they tell me to do. So when you at the beginning, establish yourself as I'm not just a one trick pony, the jack of all trades. We specialize. So many advisors worry that might. Well, Derek, that's going to cause people not to want to work with me. But there is this psychological impact that occurs and it actually draws people to you who have that exact problem. But then it causes people to try to force themselves in and say, well, even though I don't have that, would you still work with somebody like me? See, people love to work with a specialist and someone that has a really narrow area of expertise. It just, it's like a magnet that attracts people to them.
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A
Yeah, it's true. I think that's one reason why orthopedists, regular orthopedists, are now saying, you know, sports medicine because everyone wants to think that they're an athlete or have a. If they work with athletes, they must be great for working with someone who's not an athlete like me.
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B
So true.
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A
I love it. Derek, in just a minute I'm going to ask you about a concept that you call generosity of purpose and ask you to explain why you say that advisors shouldn't be trying to solve problems too quickly in new client relationships. But first, let's take a quick pause for a word from Ironclad Family, the creators of Ivault X. I want to take about a minute to talk about one of the big trends in our industry and that is holistic financial planning. As you may know, holistic planning is not just about investments or insurance. Holistic planning is about creating a master plan where everything works together. Investments, insurance, taxes, estate planning, Even your clients personal goals and values come into play. Many clients are loving this approach where their advisor connects all the dots for them. And this more comprehensive approach leads to clients gaining greater clarity, confidence and peace of mind. Now there's a platform that makes it easier for advisors to engage in true holistic planning. It's called the ivault X from the folks at Ironclad Family. Ivault X is a one stop digital vault for all your clients financial documents, personal records and even legacy plans. You help your clients get organized and secure for which they will love you. Financial advisor Mikkel Thorp said, as a trusted advisor, I offer the IVAultX service to my clients to protect their investments and build a relationship between myself and their family. And financial advisor Salvatore Sofia wrote, I enrolled a couple with IVAultX and during our holistic conversation I uncovered a dormant 401K. I handled the transfer earning a $5,500 commission and this couple referred their son to me to store shared assets, which made me his advisor too, before we even met. Your next step is to grab your free guide on how to make becoming a more holistic advisor easier for you and your team. Simply go to holisticadvisorguide.com to access this free guide. That's holisticadvisorguide.Com this link is also in the Show Notes. After you receive your free guide, you'll have the opportunity for a complimentary strategy session to discuss holistic advising and IVAultX. IVAultX just may be your key to bringing integrated financial guidance and the resulting peace of mind to your clients and their families. And we're back. Derek, I've heard you say that advisors should be careful not to solve problems in the first visit. Why is that?
- [19:46]
B
Well, Bill, quick story here. So I was on the stage at an event a few months ago and gave the talk and left the stage and a line of advisors formed and one woman with a pointed finger said, derek, I am so mad at you right now. And I said why? I just gave a great talk. Why are you mad at me? She said, if you had told me what you just said 15 years ago, I probably could have 10 xed my business. And she wanted to tell me that what I shared from the stage was she realized she was solving too many problems in the first visit and people were leaving thinking that she had helped them and that they didn't need her help anymore. And so what I now tell advisors is in that first visit, and again, you've worked so hard, let's be honest, when you have a prospect in your presence as they're talking, there's not much of what they've said that you haven't heard before, number one. And number two is you could probably design 90% of the financial plan in person with them right there, just because of your experience. But what I tell people is hold all of that inside of you. You want to stir the problem and not solve the problem. And here's what I mean by that. When someone says to you, and what I like to do is in that. And I call them visits and not meetings. By the way, a meeting, Bill, is what you have with your proctologist. It's cold, it's dark, it's impersonal. But a visit is warm and friendly and inviting. It's what you have with people you care about. Let's have a visit together, people. And again, language matters when it comes to working with the affluent and the high net words. So in this first visit, what I'll always ask people at the very beginning is what would be the greatest service that I could provide for you? And I teach advisors this. That way, at the very beginning, you have them tell you what it is they want. And then let's say the concern is, I'm worried about running out of money in retirement. Well, instead of saying, well, you know, you ought to do a Roth IRA, fully fund your 401k, you want to. You got to shove those words back in your mouth and instead say, what concerns you the most about running out of money in retirement? And the next question, why is that a concern? And the third question is, what would happen if you don't solve that problem? And then the fourth is the golden question, and that is, is that something you'd like my help with? And then you need to be typing on your computer and muttering out loud. Would like my help with a plan to not run out of money, because psychologically they need to see you working. They need to see you actively listening to what they're saying. Don't rely on your AI recording transcription, because it doesn't look like you're actively listening. And so what that does is as you go through the whole visit, then at the, at the end, before you talk about how you work and your fees and so forth, now you're recapping all of their concerns and you confirm with them, is that something you like my help with? And so the only problem you're solving in that first visit is in their mind, you're answering the question, does this person get me? Do they understand me and do they have the ability to solve my problems? But you've not solved any of their specific problems. They leave hungry to want to work with you.
- [22:58]
A
Yeah, it's helping the. You're getting the problem out. The emotional Relationship to the problem. Showing that you are empathetic and appreciate and understand. Not just going to really quick, you know, fix that. Fix the problem. Yeah, that, I think that's, that's really important. I always like to teach advisors just three magic words and those are tell me more. Tell me more. Just tell me more. And that's what you, that's what you said. Essentially there's different ways you say tell me more, but that's essentially what we're getting, getting at. Okay, lots of questions. First of all, you, you have a free guide that I think our listeners might find helpful. Where should they go for this guide? I know we'll put it in the show notes as well.
- [23:40]
B
Well, the guide is 10 Conversation Mistakes Financial advisors make and how to avoid it. What we find is words equal wealth and the right word spoken at the right time, said to the right person about the right problem can lead to great profits. So they can go to successforadvisors.com successforadvisors.com Download that. And some of what I just talked about, those exact sentences are in there to begin practicing. And what we find is we want to give you tips and strategies you can apply in your very next client visit.
- [24:16]
A
And we'll put that in the show notes as well. Successforadvisors.com and then while we're talking websites, really quick, you have kind of a cool tool and the website is simpleteen success.com. simple teen success. But what is that? Real quick.
- [24:34]
B
Yeah, real quick. So I, I taught for about 10 years a business club at our kids school. And these students would go on and graduate, go on to college, start families and they would come back to me and say, hey Mr. Kenny, when you taught us how to shake people's hands or how to talk to people and, and say it's nice to see you and not nice to meet you or how to engage in conversation at small talk. It opened up doors for scholarships and jobs, even meeting the person I married. And what I learned as an adult is sometimes you think you know what teens will like and what connects with them. But when the teens actually tell you, hey, this actually worked. And several teens said, I never learned this in school. You need to tell every teen about this. I took all of that and crammed it into one course that's easily digestible for teens@simpleteansuccess.com Beautiful.
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A
Very nice. Two more important topics, I want to want you to give us your thoughts on what financial advisors can do to make their competitors irrelevant, which is kind of a cool concept and then also want to just have you touch on why and how you've decided to become so visible in the media. You know, CNBC, Fox News, etc. But first, it's time for another very short pause to hear from the folks at Proudmouth. First, Proudmouth provides my structure behind this podcast, and they help other advisors determine if a podcast is right for them. I have coached and interviewed many advisors who report significant success with their podcast. A podcast can create deeper engagement with your clients and attract more right fit clients to your practice. I've been working with the folks at Proudmouth since the inception of this show. Not only do they take care of the nuts and bolts of producing and hosting the episodes, but but they've shown me how to increase my influence and attract more business. Proudmouth has a tool they call the Managed Influence Accelerator that creates a powerful content ecosystem that amplifies your voice, builds your influence, and drives real growth. And their SonicBoom coaching program with podcast pro Matt Halloran will guide you through the entire process. They'll make sure you have the right strategies in place and then employ the exact right tactics for you. Podcasting isn't for everyone. And with that said, I think you owe yourself a look at how having a podcast can help you play bigger and build a better business. To book your free strategy session, go to proudmouth.com K8s that's proudmouth.com K8s. And we're back. So, Derek, I know that you like to help advisors make their competitors term used irrelevant. Make your competitors irrelevant. I. I wrote a book called Radical Relevance. So this term relevance and irrelevance is in. In. In my. In. Ingrained in my head. Tell us more. What do you mean by that and how do advisors do it?
- [27:31]
B
Well, one of the biggest mistakes advisors make is they tend to want to sell based on their credentials. The fact that they're a fiduciary. I'm a cfp. I manage money. And they assume that the consumer understands the significance of that as much as they do talking to a fellow advisor. And they. It's sort of like when you drive down the road and you look at a billboard, you've got like seven seconds to tell me what problem does this company solve for me on that billboard? And if not, they've lost that money forever. So what I tell people is if you own a problem, you own your success. And. And so no longer think of yourselves as a financial advisor that's competing with all these other advisors. You are simply the owner of A problem that you talk about all day and all night. And the key is, and the way to do this is look at your past five clients and then your five favorite clients and ask yourself, why did they come in to see me? What was the problem that they needed help solving? And then, most importantly, how did they feel? What was the emotion? Were they distraught, upset, worried, frustrated, anxious? And then how do they feel now that they're working with you? Peace of mind, confident, relieved, joyful, whatever that may be. And those are the words then that you then use to describe what it is you do. Because so many advisors, again, think that I'm going to sell based on my features and benefits of the products and services I offer. And those come and go. But when you can own that problem, truly you own your success. And when you talk about the problems that you own and how it connects to people, it's the greatest differentiator there is.
- [29:14]
A
So here's what I'm. What's coming for me as you talk about this. First of all, in how you describe what you do and then what you just describe here, it's. You're infiltrating the power of story. Stories, short, really short stories. But we know that, that people listen differently when there's a story involved. So, you know, at the beginning of this conversation, in terms of how advisors talk about their value, you say, you know how, right? You know how people are worried about this, or you know how when people do this, right? So that's, that's a little story. Same thing here. You're giving kind of the essence of really of a case study. What was going on before we got together? How'd you feel? You know, how do you feel about. And then, you know, what have we done? What's the solution and how you feel? And now that's, you know, the very cryptic essence of a case study, which is a story. And so I think what you're saying, how do you make competitors irrelevant? You work on the level of stories and emotions and not on the level of analytics and facts. Is that a good summarization? Does that make sense?
- [30:23]
B
It makes great sense. And what I would say to make your point, Bill, think about how a TED Talk is constructed. Talks are 20 minutes long and they've done research, written books on the formulas of a successful TED Talk. It was all about data and facts and analysis and charts. And it's actually 70% stories, 30% facts. And what we find is, in the psychology world, stories are remembered like up to four times longer than a factor statistic. And so the whole point of this is like, for example, let's say that you and I each had a teenage daughter. And I said to you, bill, you know how it feels like when you talk to your teenage daughter? What do you say goes in one ear and out the other? And you're. There you go, you're nodding your head. Instantly it's like, yeah, yes, they give me the eye roll, they nod there. You know that they don't act like they're listening to me. So the point is, how can you, again, no offense meant here, but how can you talk like a third grader where a person can instantly, without burning any of their brain cells, figure out what problem you solve? Because once you hook them with the problem, you can get down to. And by the way, I'm a financial advisor or I'm a whatever you want to call yourself. But the key is you want to hook them at the beginning with that problem, and then you can bring in how you can actually help solve that problem for them.
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A
All right, so I've seen you on cnn. I've seen you on Fox News, Yahoo Finance, cnbc. You know, you're, you're helping advisors in their practice as we've been talking about here today. But you're also out there as kind of a voice of the financial industry or proper financial planning. I'm just curious, how does that serve your current mission? Or is that one of the things that you realize you love working and helping advisors, but then you also love doing this? Is it two separate things, or do they somehow create some congruence and serve each other?
- [32:22]
B
Yeah, there's some congruence there. So one of the ways I began to build my practice, when I was a young 26 year old, I had this crazy idea that I looked in the mirror and I looked like I was 13. I had no gray hair, no wrinkles, no country club membership. And so I reached out to the local TV stations and said, hey, when you need someone to talk about complicated financial matters in an easy to understand way, call me. Well, after about six months of sending faxes, back in the day, of all things, I got a phone call from the local CBS affiliate here in Dallas. And they said, hey, we know you love to be on tv. We'd love to have you on. I'd never been on TV before, but I've always learned you want to seek out the opportunity first. And once you get it, you can figure out how to then fulfill the opportunity. Just a smart way to do it. So I practiced and visualized And I, I just had in my mind, bill, as crazy as it sounds, they're going to say to me, derek, you are made for tv. We'd love to have you on on a regular basis. The interview went great, hit on the key points. The producer says, derek, we'd love to have you on on a regular basis. You're really, really good at this. And that's all I needed to hear. And so from then on, as a financial advisor, I was on TV that entire way. And actually, right before I decided to sell my practice, I got an offer to have a national show. But in all good faith, the compliance department said no. And so I had to abide by that. And after that point, a couple years later, I did sell my business. But I love being on TV now because people are worried, people are nervous, people are anxious. And I enjoy taking these complex topics and making them easy to understand. Because what I like to do is if I can do things in different areas, it helps me be a better coach and a speaker for other advisors. So I never like to coach on things I'm not actively doing myself. And so, for example, in my consulting, if someone says, hey, can you help me get on tv? I'm able to tell them because I'm on TV here in Dallas Fort Worth every week on the local channel. It keeps me in the game. But also what it does, it reminds me every day that there's somebody listening or watching right now that has a financial problem, that they need someone to give them easy to understand solutions so they can improve their life. And I think if we can all remember that that person is in our lives, it's going to help us all be better financial advisors.
- [34:45]
A
Yeah, that's great. Good. Appreciate this. My featured guest on today's show has been Derek Kenney, author of Good Money Revolution, a talented keynote speaker, TV personality advisor to advisors. Thanks a billion for being a guest on my podcast and for all the important contribution to our industry.
- [35:07]
B
Thank you, Bill. It's been a real joy to be with you. Thanks for having me.
- [35:10]
A
You bet. The top advisor podcast is sponsored by the folks at Proudmouth who help advisors increase client engagement and track more ideal clients. For more go to proudmouth.com forward/k8s. That's proudmouth.com Kates and this episode is sponsored by Ironclad family, who bring you Ivault x, a financial advisor enablement tool focused on upping your game as a holistic advisor. Go to holistic advisor guide.com that's holistic advisor guide dot com. Hey, don't forget I got a new book out. It's called the Hidden Heist. Just go to the hidden heist.com could be a good gift for your clients and for your clients to give to their adult children. Just check it out. I think you'll find it entertaining, interesting, and perhaps helpful. This is Bill Cates reminding you that ideas do not make you more successful. Only acting on those ideas will bring you the success you desire. Thanks for stopping by. Thank you for listening to the Top Advisor podcast brought to you by Proud Mouse Pot Rocket Academy. I encourage you to Visit my website, referralcoach.com for links to my books, online courses, and to register for the Katz Academy.