Today’s a very special episode. For the past 10 years that I’ve been podcasting and creating videos, this is the first time that I’m having a very special guest on the show, Floyd Shilanski.
Floyd and I have known each other for 15 years and I'm privileged to call him a client and also a very good friend. This man has accomplished so much. And he's got a wealth of knowledge and wisdom from the time and experience he has in the financial planning industry.
He just recently released his book: Registered Investment Advisor (RIA) From Scratch: 50 Lessons to Consider Before You File. In this episode, we talked about several themes and topics in the book that are truly valuable. Here are some key takeaways from our conversation:
03:12 The importance of beginning with the end in mind
04:20 Why being in survival mode has become an industry indoctrination that some advisors never break out of
06:53 Why advisors find it hard to come off of product services
08:43 What do advisors get paid for?
11:23 Why you need to keep trying until things work
15:26 What are the 3 stools of income?
17:53 Why being an early adapter is a critical component of your success
20:45 How did Floyd decide to adapt early into that paid planning/retainer model?
24:27 How Floyd shifted from the ultimate shopkeeper to the ultimate man of freedom
30:07 What does the surge concept mean?
31:55 The value of training and coaching is important in your career
36:05 What is the industry missing in terms of training and coaching today?
39:11 Why you shouldn’t allow anyone to rain on your parade.
44;27 Should an advisor’s best year be their last year in the business?
48:11 Why Floyd wrote his book: RIA (Registered Investment Advisor) from Scratch
To get a copy of Floyd Shilanski’s book Registered Investment Advisor (RIA) From Scratch: 50 Lessons to Consider Before You File go to:
https://www.amazon.com/Registered-Investment-Advisor-RIA-Scratch/dp/B099BYN9QQ
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