AFO|Wealth Management Forward
By For Entrepreneurs, Financial Advisors & Accountants
AFO|Wealth Management ForwardAug 09, 2023
Dawn of a New Era: Spot Bitcoin ETF & Legacy Planning
In this episode, Rory Henry, joined by guest co-host Crystal Wampler, interviews Matt McClintock, co-founder of Evergreen Legacy Planning and the Bespoke Group, as they discuss estate planning for digital assets as well as the latest developments in the world of bitcoin. Matt dives into how his firm is assisting clients in navigating the complexities of this emerging field of digital assets, emphasizing the need for innovative approaches due to their volatile and unique nature. They explore the vital role of Private Trust Companies in providing sophisticated solutions for wealthy families. Discover the challenges and opportunities in estate planning for cryptocurrencies and other digital assets, and learn how professionals like Matt are reshaping traditional practices to accommodate the digital era. Tune in to this lively discussion on bitcoin, estate planning, and a look into how to work with clients struggling with newfound wealth. Are you curious about how to integrate digital assets into an estate plan? Wondering how to provide effective guidance to clients who have rapidly accumulated wealth? Find out the answers to these questions and more in this insightful episode with Evergreen Legacy Founder Matt McClintock.
Sam Altman OpenAI News, Hybrid Work & The Future of Advisory
In this episode, Rory sits down with Dave Hartley, Partner in Charge of Advisory at Anders CPAs + Advisors, to discuss the transformative effects of AI in the CPA profession. Discover their insights on the major news story involving Sam Altman and OpenAI, as they reflect on a tumultuous weekend in the AI world. Learn about the critical balance between embracing cutting-edge technological solutions and preserving the indispensable human element in meeting the unique needs of clients. Listen as they discuss the CPA pipeline issue, the profession's image problem, and ways to make accounting careers more attractive to new entrants. Dave discusses changes to the traditional partnership structure and how firms are embracing long-term strategies through alternative funding models and innovative acquisition strategies. Are you curious about the future impact of technology on accounting practices? Interested in tips for enhancing culture in remote and hybrid work environments? Tune in to this enlightening AI-focused episode with Dave Hartley to find out more!
Merging Healthcare and Financial Planning w/ Christine Simone
In this episode, Rory Henry and guest co-host Julie Johnson introduce Christine Simone, CEO of Caribou Wealth, whose innovative platform is revolutionizing how advisors manage healthcare costs for their clients. Discover the critical intersection of healthcare and financial planning and learn how to make a significant impact in an area of growing concern for Americans: the rising costs of healthcare. Uncover why only 14% of Americans can accurately define basic healthcare insurance terms, underscoring the urgent need for improved healthcare financial literacy. Gain insights from Christine on the importance of proactive planning, especially as she highlights that the average retirement age in most states is between 61 to 63, earlier than Medicare eligibility. Are you prepared to integrate essential healthcare planning into your financial advice? Are you interested in supporting more female tech founders in the venture capital world? Get the answers to these questions and more in this enlightening Healthcare Planning episode with fintech innovator Christine Simone!
What’s Your “And” - People Centric Leadership w/ John Garrett
In this episode, Rory interviews John Garrett, a people-centric leadership speaker, about how individuals can embrace their personal interests and hobbies in the workplace. Discover how a former CPA turned stand-up comedian and Emmy-nominated writer found his passion in spreading the What's Your “And" concept to help organizations increase employee engagement and well-being. Explore the significant impact that just 45 seconds of genuine human interaction can have on a person's day. They also discuss the challenges individuals face, especially those in high-powered positions, as they transition into retirement, emphasizing the importance of nurturing personal interests to maintain a fulfilling life beyond work. Learn practical strategies to foster human connections in remote and hybrid work environments. Are you curious why only 15% of success is attributed to technical skills? Do you want to know how to incorporate "What's Your And" into your workplace culture? Find out the answers to these questions and more in this inspiring episode with John Garrett.
How to Plan for Life Events and Age Based Milestones w/ Philipp Hecker
In this episode Rory interviews Phillipp Hecker, the CEO of Bento Engine, a platform that provides personalized advice based on life events and age-based milestones. Discover how to better connect with and serve the next generation, as studies show that teenagers and their parents are seeking more help in this area. Philipp discusses his Children and Wealth program, which provides age-appropriate guidance and activities to help children learn about money from a young age. They also highlight a study by the Federal Reserve of Atlanta, which reveals that while 90% of American workers may want to wait to file for Social Security benefits, but only 10% actually do. Learn about the importance of assisting clients through life events, some predictable like marriage or moving, and others that are unexpected, such as sudden family death or a financial windfall. Do you want to find out how to scale moments that matter? Are you interested in learning more about the growing category of Advice Engagement in the Fintech ecosystem? Find out the answer to these questions and more on this advice beyond investing episode with Philipp Hecker of Bento Engine.
Impact Investing w/ Toussaint Bailey
In this episode, Rory is joined again by guest co-host Julie Johnson to discuss the world of impact investing with special guest Toussaint Bailey, the CEO of Uplifting Capital. They dive into the role of values-based investing in both public and private markets, highlighting the growing demand for aligning investments with personal values. Toussaint shares his journey and the inspiration behind starting Uplifting Capital, emphasizing the importance of purpose and fulfillment in investment decisions. Discover why there is an increased focus and shift for families, foundations, and institutions to incorporate mission-aligned investing into their portfolios. Find out the process behind identifying impact companies and why Toussaint uses a 3 bucket breakdown of People, Planet, and Economy. Are you looking to find out more about how to make an impact as an investor? Are you looking for a greater Return on Fulfillment? Don’t miss this Impact Investing episode with Toussaint Baily of Uplifting Capital!
The Anti-CPA Firm w/ Chase Birky of Dark Horse CPAs
In this episode, Rory interviews Chase Birky, the CEO and co-founder of Dark Horse CPAs, to discuss the changing nature of the accounting profession. Discover how Chase is challenging the traditional accounting firm model and why he is on a mission to revolutionize public accounting. Chase shares insights into their unique approach as the "anti CPA firm" and how he motivates employees through a distinctive culture and ownership incentives. Listen as Chase explores the advantages and disadvantages of structuring Dark Horse as a corporation and a CPA firm. Find out the benefits of integrating accounting and wealth management to become the Global CFO in your clients' business and personal lives. Listen as they discuss the role of private equity in the accounting profession and various alternative practice structures that firms are creating. Are you curious about ways in which we can solve the CPA pipeline problem? Want to learn how to create better employment experiences to attract and retain top talent? Find the answers to these questions and more in this Dark Horse CPA episode with Chase Birky.
Family Office Level of Care w/ Wealth.com Co-Founder Danny Lohrfink
In this episode, Rory and guest co-host Julie Johnson interview Danny Lohrfink, co-founder and chief product officer at wealth.com , as they discuss the innovative technology that is modernizing the estate planning process. Danny shares how their platform facilitates the creation and ongoing optimization of estate plans, providing a frictionless experience for advisors and their clients. They also discuss the importance of holistic financial planning, including tax and estate planning, and how wealth.com enables financial advisors and CPAs to work with clients across generations. Discover the reasons behind Sinead O'Connor instructing her kids to contact her accountant before calling the paramedics in the event of her passing and the business issues surrounding Prince's estate. Danny highlights the benefits of using a trust, such as avoiding probate, maintaining privacy, and preventing family members from dealing with the headache of the courts. He also explains how wealth.com's machine learning technology can help analyze estate planning documents, provide projections, and an integration with Zillow that streamlines the updating of estate planning documents when clients move states. Gain valuable insights into the future of estate planning and how CPAs and financial advisors are leveraging the technology to provide a Family Office Level of Care.
The Experience Economy w/ Dennis Moseley-Williams
In our latest episode, Rory interviews keynote speaker and customer experience thought leader Dennis Mosley-Williams, the founder of Dennis Moseley-Williams Strategic Consulting, and co-founder of the Serious Shift Community. Discover insights from their discussion on the McKinsey study regarding the future of advice, and learn how advisors can evolve beyond traditional financial planning to become advocates for their clients by considering their overall well-being. This episode explores the shift from providing services focused on saving time and money, to creating experiences centered around meaningful time well spent. It emphasizes the importance of changing one's mindset from “What I want my client to do” to “How do I want my client to feel.” Are you curious about the three questions that can help create a memorable experience? Or what the “Hatchback Effect” is? Uncover the answers to these questions and more in this Experience Economy Episode with Dennis Moseley-Williams.
Tax Titans and the Amazonization of Accounting
In this engaging episode, Rory is joined by Al Blakeborough, a military veteran and Olympic fencer who founded Tax Titans, an innovative platform aiming to become the Amazon marketplace for tax and accounting services. Al shares his intriguing journey, from military service to competing in Olympic fencing trials and ultimately venturing into entrepreneurship. He highlights the pressing challenges accountants face and how Tax Titans leverages AI to efficiently match taxpayers with practitioners, ultimately addressing the profession's capacity issues. Moreover, Al passionately discusses his dedication to supporting veterans through a specialized program, providing training and job opportunities for military veterans and their spouses. Can an Amazon-type marketplace solve the accounting profession's capacity problem? Find out the answer to this and more on this episode with Al Blakeborough from Tax Titans.
AI Nasdaq Rap w/ Tech 4 Accountants Andrew Lassise
In this episode, Rory has a thought-provoking conversation with Andrew Lassise, the founder of Tech 4 Accountants. They provide a Bridging the Gap Conference round-up and dive into Intuit's Tax AI Assitant release. Andrew sheds light on the emergence of artificial intelligence and the impacts it could have on the accounting profession. Listen to Andrew do an AI Nasdaq rap and the different ways he is using ChatGPT as a sounding board for work. Rory and Andrew discuss how the role of accountants is continually evolving due to rapid technological advancements, resulting in enhanced efficiency and a shift towards high-value activities like strategic planning and nurturing client relationships. Andrew emphasizes the critical domain of cybersecurity and its growing significance in safeguarding sensitive financial data. If you're curious about the future of accounting and the innovative tools reshaping the profession, this episode is packed with insights you won't want to miss with Accounting Tech leader Andrew Lassise!
Value of an Advisor and Behavioral Coaching w/ Vanguard’s Michael DiJoseph
In this episode, Rory speaks with Michael DiJoseph, CFA, a senior strategist at Vanguard Investment Advisory Research Center, as they dive into the intricacies of decision-making in the investment world. Listen as they discuss the concept of "Right Mindset, Wrong Market," which highlights the decision-making strategies we commonly use in everyday life but which falter when applied to investing. Our default decision-making strategies rely on factors like past performance, relative rankings, and user reviews to guide our choices. While this approach is effective for decisions such as selecting a dentist based on Yelp reviews, choosing a Michelin-starred restaurant, or picking a college based on its ranking, it doesn't translate well to the financial markets. Are you interested in understanding the psychology behind investment decisions? Want to know how to navigate the emotional rollercoaster of the financial markets? Don't miss this enlightening episode with behavioral coaching leader Michael DiJoseph!
Best Life Plan: Transformational Values-Based Advice
In this episode, Rory speaks with Mark Akeroyd, the Head of Product at Lumiant, an advice and client engagement platform where advisors connect with clients around their lives, values, and finances. Learn about the research from the University of Michigan, exploring the eight dimensions of well-being and how we can become healthy, wealthy, and wise. Find out how we can transition from offering services to staging experiences that can ultimately lead to profound client transformations. Mark underscores the art of aligning a client's values with their financial goals, infusing purpose into financial planning. He discusses the importance of making clients feel seen, understood, and empowered, propelling them toward their best life aspirations. Mark also highlights the pivotal role of non-financial spouses in the planning process, ensuring the holistic well-being of every household member. Join this insightful conversation with Lumiant's Mark Akeroyd for a journey into comprehensive financial well-being and fulfillment.
Shaping the Future of Accounting: Unleash Your McKinsey/Bain Potential
In our latest episode, Rory speaks with Alex Loewenstein, General Manager of Paro.ai, diving deep into the evolving dynamics of the accounting landscape. Learn about the power of relationships as Alex outlines key strategies to enhance your chances of business success by broadening your network, and hear how Jeff Phillips, CEO of Paget Business Services, has influenced his professional journey. Gain insights into the evolving expectations of the next-generation workforce, focusing on work-life balance, skill development, and equitable treatment as primary motivators. Discover how firms are staying ahead through visionary leadership, technological innovation, and strategic outsourcing. Learn why a robust digital and social media presence can be an effective recruitment strategy. Finally, don't miss Rory and Alex's thoughts on future trends, including the potential for acquisitions by non-traditional players venturing into the accounting space. Don't miss this thought-provoking episode with Paro.ai's General Manager Alex Loewenstein!
BDO ESOP, Incentivizing Employees & Pipeline Building w/ Ed Warren
In this latest episode, Rory engages with Ed Warren to talk about the latest events in accounting and how they are shaping the profession's future. Ed and Rory discuss the recent acquisition of BergenKDV, the $100 million-dollar accounting firm out of Minnesota, by the RIA Creative Planning and the value of integrating accounting and wealth management worlds. They also highlight the recent news of BDO and the 1.3 Billion dollar deal to become an ESOP, the significance of this ownership structure, and how it enhances employee engagement and loyalty. Ed discusses the importance of having a well-defined and actively managed sales pipeline. They underscore the importance of adaptability and flexibility in work structures to not only retain top-tier talent but also to cater to the evolving needs of clients. Lastly, Ed introduces the concept of being a "financial Sherpa," someone who guides clients toward their financial goals rather than just providing retrospective advice. Don't miss this episode if you want the latest commentary on the accounting profession, as well as tips to increase and bolster your sales pipeline with Ed Warren of Sage!
Mindfulness Meditation Practice for Holistic Growth
In this podcast episode, Rory engages in an enlightening conversation with Zach Baughan to talk about mindfulness, personal development, and a holistic approach to both finances and life. Zach shares his insights on mindfulness and meditation, discussing their benefits for busy professionals and individuals seeking a more balanced life. He emphasizes the connection between how we handle one aspect of life and how it reflects in others, promoting the idea that a holistic approach yields greater fulfillment. Zach's personalized coaching strategies and emphasis on authentic values offer guidance for self-discovery. He also discusses the impact of relationships on personal growth, highlighting the influence of his father. Zach envisions a future where he can help people to create a purposeful environment as well as practice. Learn ways to start a mindfulness practice through five minutes of daily meditation and gradually expanding to a more dedicated regimen. Don't miss this illuminating episode on mindfulness, personal growth, and holistic living with the Zach Baughan
Become like Netflix, TikTok & Amazon w/ Advice Engagement
In our latest episode, Rory speaks with John Prendergast, CEO of Blueleaf, about the latest in wealth management, behavioral finance, and the future of advice. They highlight the importance of understanding clients' behavior and psychology in wealth management and how contextualizing information can lead to better client outcomes. Find out what John has learned from the over 100 million interactions with clients and how he you can leverage the digital blueprint of TikTok, Facebook, and Netflix to stay top of mind with clients. John shares a personal story of starting his first business, a Boston Chicken franchise, and how it shaped his approach to managing investors' money and caring for his employees. They also discuss the potential for technology companies and banks to get more involved in the worlds of accounting and wealth, as well as the integration of banking, wealth, accounting, and insurance services. Discover valuable insights into the evolving landscape of wealth management and the significance of relationships and behavioral understanding of how people make decisions in a digital world with guest John Prendergast!
Exit Planning & Setting Up Business Owners for Success w/ Christine Nicholson
In this episode of the podcast, Rory Henry interviews Christine Nicholson, a multi-award-winning business mentor who specializes in exit and succession planning for business owners. Christine shares her personal journey and how it led her to become an expert in helping business owners transition out of the day-to-day operations of their businesses. She emphasizes the importance of developing a strategic plan and delegating tasks to free up time for more strategic thinking. Christine also discusses the value of shareholder agreements and the need to plan for the inevitable exit from the business. The conversation concludes with a powerful message about the importance of finding joy and purpose in life beyond business. With a focus on practical advice, this episode is a must-listen for any business owner looking to plan for the future.
AI in Tax, Financial Services, BlackRock and Hollywood's Strike - Davyde Wachell
In this interview, Rory engages in a thought-provoking conversation with Davyde Wachell, the CEO of Responsive AI. Davyde discusses the Hollywood Strike and the current use case of leveraging AI to expand the reach of a Korean Pop star's digital presence. They explore how a person's digital footprint will become increasingly valuable and why intellectual property might be the future currency in tomorrow's creator economy. They delve into how tax professionals and financial advisors are utilizing tools like Responsive.ai to discover potential revenue-generating opportunities to cater to the varied needs of their clients. Uncover Davyde's insights on the potential of AI to provide focused and personalized insights. Learn about Davyde's recent experience at Accenture Fintech Lab in New York, where he had the opportunity to present to BlackRock's CEO, Larry Fink. Is the largest Asset Manager in the world going to get more into Wealth? Don't miss out on this AI episode with Responsive AI founder Davyde Wachell.
Connecting People with Resources - Mike Max
In this episode, Rory engages in a thought-provoking conversation with Mike Maksymiw, CPA, an executive with Aprio Firm Alliance. Together, they delve into the dynamic and innovative trends shaping the accounting profession while emphasizing the importance of cultivating meaningful relationships. Mike shares his deep passion for leadership and connecting individuals with valuable resources, which he considers his "Zone of Genius." He discusses the transformative impact of his involvement in the AICPA leadership academy and the invaluable support he received from his peers. Aligning values with goals and lifestyle choices is a key theme explored by Mike, who shares his personal values of freedom, family, and innovation and his aspirations to make a meaningful contribution to the profession. The evolving role of technology and artificial intelligence in the accounting field is also examined, with both Mike and Rory emphasizing the need to prioritize the human aspects of advice. The episode concludes with a powerful message about embracing the dimension of possibility and finding happiness in the pursuit of one's goals. Don't miss this engaging podcast featuring one of the accounting profession's innovative leaders!
Attracting Next-Gen Talent and Clients w/ Dan Graham
In this episode, Rory engages in a conversation with Dan Graham, the Founder of docVinci and Head of Marketing at Next Gen Planners. Together, they explore strategies for attracting next-gen talent and clients through financial planning. Dan delves into the evolution of financial planning, emphasizing the importance of personal branding and having a unique service proposition (USP). He shares valuable marketing tips and tools from Next Gen Planners on how to enhance the client experience. Discover how innovative firms are servicing clients through a subscription model, similar to Netflix or Amazon Prime, as a way to better meet client needs. They explore the significance of understanding clients' values, motivations, and emotions in addition to their financial goals. Find out about the impact relationships have on retirees, particularly men whose social circles are often tied to their work. Dan also talks about the influence of social media platforms like TikTok and Instagram, highlighting the increasing reliance on peer recommendations and advice. Don't miss this enlightening episode on financial planning, marketing, and effective engagement with the Next Generation with one of the UK's financial planning thought leaders, Dan Graham!
How to Lead with Vulnerability w/ Amy Vetter
In this episode, Rory has a heart-to-heart with Amy Vetter, the inspiring author of "Disconnect to Connect: Tap into the Power Within to Create the Life that You Desire." They explore the often-overlooked themes of vulnerability and intergenerational trauma and how they shape our life journeys. Amy opens up about her deeply personal experiences that led her to write her transformative book, demonstrating how turning inwards can help us build meaningful connections and manifest the life we yearn for. Drawing on her unique blend of corporate leadership and yoga mindfulness practice, she underscores the need for a holistic approach toward professional and personal growth. Also, Amy shares some practical exercises from her book that listeners can incorporate into their daily routines. Delve into this profound conversation to learn how understanding your past can unlock a more fulfilling and connected future. Don't miss out on Amy's wisdom-filled insights that have the power to change your perspective and life!
Finite vs Infinite Game w/ Clayton Oates
Rory is joined by Diane Young, Partner at Arrowroot Family Office, as they talk with Clayton Oates about accounting, technology, and entrepreneurship. In this episode, Clayton talks about how accounting technology has progressed over the decades and how technology companies can better form relationships with clients. They discuss the Finite vs. Infinite game and how being an infinite game player is about an abundance mindset and continual improvement. Why do some partnerships and relationships last for a lifetime while others fall apart and end badly? How can you identify finite vs. infinite game players? Find out the answers to these questions and more in this episode with one of Accounting & Technology's leading voices. Originally aired (8/9/22)
Measure x Hack Your Life - Michael Hsu
In this episode, Rory converses with Michael Hsu, founder, and CEO of DeepSky and the Measure x Hack Program, about the challenges and opportunities in accounting and ways in which to optimize our well-being through continual self-improvement. Michael talks about the accounting profession's need to keep up with modern trends and technology so that they can provide optimal value to clients. They also discuss the problem of online self-proclaimed financial gurus on Tik-Tok and Instagram who lack real-life experience and credentials but still attract clients through effective marketing. Michael underscores the importance of continuous learning and introduces his how his decade's worth of experience advising CEOs lead him to create his 'measure and hack' methodology. He shares his ambitious vision of aiding a billion entrepreneurs in realizing their dreams through the strategic use of systems and data. Tune into this thought-provoking episode to understand how a 'measure and hack' methodology can reshape your mindset and lead to greater fulfillment.
Your Future Self w/ Hal Hershfield
In this episode, Rory delves into the intriguing world of behavioral decision-making with Hal Hershfield, a professor at UCLA Anderson School of Management and the author of "Your Future Self". They explore the concept of 'Mental Time Traveling' and the science behind creating a vivid visual picture of our future selves to make better decisions today. Hal shares insights on 'Projection Bias' and the 'Extreme Discounting of Future Rewards', explaining how our current state can cloud our future decisions and how our preferences can drastically reverse when faced with immediate rewards. He also discusses the role of the temporal parietal junction in our brains, explaining its crucial role in fostering empathy and perspective-taking, which can help us better understand and empathize with our future selves. Additionally, Hal discusses the role of algorithms in predicting our preferences and the potential of commitment devices we can use as guardrails for our future behavior. Curious about why Hal used images of Matt Damon and Natalie Portman in his research on connecting with our future selves? Ever wondered what the real-life serial killer, who inspired the show 'Dexter', has to do with our future self-concept? Tune in to this episode with renowned research and UCLA Professor Hal Hershfield to find out more.
Intersection of Money, Health, and Happiness: Doug Lennick's Behavioral Finance Mission
In this episode, Rory engages with Doug Lennick, the co-founder of Think2Perform, in a discussion on behavioral finance, emotional competence, and the transformative power of decision-making. Doug explores how financial advisors and accountants can play a pivotal role in guiding their clients toward healthier financial habits and improved emotional well-being. Unveiling the concept of the 'Freeze Game,' he demonstrates how this tool can effectively reshape thinking processes to counteract impulsive actions. The conversation brings to light the interconnectedness of financial stress, emotional competence, and irrational decision-making, laying emphasis on the ripple effects these elements can have on overall health and happiness. Doug underscores the importance of acknowledging and preparing for inevitable truths in life, such as aging and financial changes, and how this preparation can transform misery into wisdom. Do you want to learn more about the intersection of money, health, and happiness? Are you interested in understanding how to turn your financial stress into emotional strength? Tune into this episode with behavioral finance pioneer, Doug Lennick!
Improving Intergenerational & Gender Communication w/ Julie Johnson
In this episode, Rory is joined by Julie Johnson, the CEO of XY Communication, with a mission to revolutionize intergenerational and gender communication in financial advisory. They navigate the vital studies by institutions like Wharton, Harvard, and Vanguard on the importance of engaging women and younger investors. Get insights on how advisors can support clients through life-changing events and build stronger, more authentic relationships. Uncover strategies to effectively connect with inheritors in the era of the Great Wealth Transfer, and how to transcend the label of "just my parents' advisor". Discover from Julie's rich coaching experience the power of deep client understanding, and learn to address the most common concerns of the younger generation. Want to know how to enhance your advisory approach, build trust with the broader family network, and connect meaningfully with the next generation? Join us in this insightful episode with XY Communication CEO Julie Johnson.
Behavior, Psychology & Money Messages - Dr. Joy Lere
In this episode, Rory hosts a conversation with Dr. Joy Lere, a clinical psychologist and the Co-Founder of Shaping Wealth. They delve into the intricate nexus of behavior, psychology, and our complex relationship with money. The conversation explores how advisors employ psychology to improve client outcomes, marking a shift from technical training to fostering human connections. Dr. Lere explains the concept of the "Hedonic Treadmill" and discusses why people often find themselves trapped in its cycle, along with the psychological tools required to break free. Discover insights on how better management of your calendar and bank account can align your real-life actions with your stated priorities. Find out how Financial Advisors and CPAs can help navigate a lot of relational dynamics of clients that are simply being played out through money. Can you find out a person's money scripts by looking at their family's relationship to money? Do you want to know how to improve your emotional, physical, spiritual, and financial well-being? Find out the answer to these questions and more on this Shaping Wealth Episode with Dr. Joy Lere.
Accounting Today Conference Wrap-Up w/ sethfineberg.com
In this episode, Rory speaks with Seth Fineberg, business journalist and industry consultant, about the recent Accounting Today Firm Growth Forum. Listen as they discuss the challenges firms face and the importance of adapting to change. Discover the top takeaways from the Accounting Today conference, with commentary on the growth potential of service lines like Wealth Management and CAS. Learn about trends and insights from conference speakers like Alan Koltin, Dan Hood, Bob Lewis, Loren Fogelman, Michael Hsu, Joe Woodard, and Randy Crabtree. Find out how firms can adapt to new technologies and changing client needs in an ever-evolving marketplace. Did Seth, Rory, and crew really eat 10k calories at a Japanese BBQ? Is Seth Fineberg coming back out with a newsletter? Find out the answers to these questions and more on this Accounting Today Firm Growth Forum Recap with Industry Consultant Seth Fineberg!
Financial Therapy for CPAs and Advisors - Dr. Kristy Archuleta
In this episode, Rory speaks with Dr. Kristy Archuleta, a professor at the University of Georgia, about financial therapy and the psychology of money. Dr. Archuleta emphasizes the importance of self-awareness and introspection in our perceptions of money. This episode unveils how practitioners are applying a solution-focused approach to enhance clients' financial health. Discover the 'Miracle and Best Hopes Question', a tool that encourages individuals to envision their desired future. Understand how to establish a 'pause appreciation zone' during client meetings, or when conversing with family and friends. Explore the methods of creating a safe space for clients through the art of reflective listening and paraphrasing. Want to understand why money messages hold such a pivotal role in our lives? Interested in Dr. Archuleta's philosophy of change? Tune in to find the answers to these questions and much more with our Financial Therapy Pioneer, Dr. Kristy Archuleta.
Advisory and Staffing Research Study w/ Donny Shimamoto
In this episode, Rory speaks with Donny Shimamoto, CPA, CGMA, CITP of the Center for Accounting Transformation, about the latest in the accounting profession and the research he's doing into advisory and staffing. Discover why Donny believes that accounting professionals can help their clients achieve their financial goals by providing peace of mind, vision and clarity, and hope. Donnie discusses the potential of AI to automate tasks and improve efficiency, while also highlighting the risks associated with it, such as bias and data privacy. He emphasizes the importance of developing policies and procedures to ensure that AI is used ethically and responsibly. Do you want to know how to create a sense of community and belonging in virtual workplaces? Do you want to know how to go from Trusted Advisory to Transformational Advisor? Find out the answer to these questions and more on this Episode with 3-Time show guest Donny Shimamoto!
Sign up For the Research Study Here: www.improvetheworld.net/owntheunknown
Getting More Referrals
In this episode, Rory speaks with Stacey Brown Randall. Learn about the 4 types of Referral Sources, from Family and Friends to Strangers. Discover how to build a referral ecosystem within your business. Learn why asking flat out asking for referrals is a bad idea and poor strategy. Find out how to better connect with customers on a emotional level and the importance of cultivating a deeper relationship with your top referral sources. Do you want to know what the Secret Sauce Formula you can use to generate more referrals? Do you want to know the phrase you can use to plant a Referral Source seed with anyone? Find out the answers to these questions and more on this Referral Charged Episode with Stacey Brown Randall.
The Subscription Economy, Concierge Doctors, & Virtual Family Offices w/ Ron Baker
In this episode, Rory speaks with Ron Baker, the founder of the VeraSage Institute, co-host of The Soul of Enterprise radio show, and author of "Time's Up: The Subscription Business Model for Professional Firms." Ron discusses the rise of the subscription economy and its impact on the professional world, drawing on the success of concierge doctors. Learn how professionals can guide their clients through serial transformations and why focusing on a holistic, long-term view is essential for providing true value. Ron explains the three options for implementing a subscription model: creating a separate company, making a gradual transition, or undergoing a total transformation like Adobe. Do you want to know what Labor Perception Bias is? Do you want to know how companies like Disney, Hulu, and Porsche are creating deeper human-to-human connections and unique personal experiences with clients? Find out the answer to these questions and more in this "Time's Up" episode with Ron Baker!
Mental Health Awareness & Money Mindset
In this episode, Rory speaks with Larry Sprung, Host of the Mitlin Money Mindset to talk about Mental Health and his work with the American Foundation for Suicide Prevention (AFSP). In this episode, Larry shares his personal story of losing his brother-in-law to suicide and the impact it had on his life, leading him to raise awareness and funds for mental health. Discover the 3 pillars of health and how they are all intertwined. Find out how you can start an open conversation about mental health with clients. Learn about the role of shared experiences and community in combating the rising isolation in today's technological world. Do you want to know how you can help plan for greater mental, social, and financial health in retirement? Find out the answer in this Mental Health Episode with Larry Sprung.
A.I. April - Financial Armageddon or Opportunity w/ Jody Padar
In this episode, Rory speaks with Jody Padar, The Radical CPA and Head of Tax Strategy & Evangelism at April to talk about the latest developments in AI. In this episode, Jody talks about how April is leveraging AI to both read the tax code and write computer code. Jody shares her background as a pioneer in the accounting profession and how she continues to push boundaries in her work. Discover why Jody believes AI will enhance, rather than replace, the work of accounting professionals. Learn about the 2023 American Taxpayer Study findings and personality profiles of taxpayers like "The Stubborn DIY" and the "Household CFO." Do you want to know what skills will be valuable in an AI world? Should you be learning how to ask ChatGPT questions? Find out the answer to these questions and more in the Radical CPA episode with Jody Padar.
Wealth Tech, CPA Advisors, and ChatGPT-4
In this episode, Rory speaks with Ryan George of Docupace about his journey from the tax-focused wealth management world for CPAs to his current role as CMO of a leading fintech platform for Independent Broker-Dealers and RIAs. Discover the top pain points for financial advisors and CPAs in the current market and how technology can help solve these challenges. Find out you can leverage technology to enhance zthe client-advisor relationship and expand your service offerings in an increasingly crowded technology marketplace. Learn about the latest trends and innovations in wealth management technology, as discussed at the T3 conference. Do you want to know why 60% of Americans are reevaluating their perception of wealth? Do you want to know how CPAs and advisors can continue to position themselves as trusted advisors in the face of changing technology and consumer behavior? Find out the answer to these questions and more with CMO Ryan George.
Finding your Passion and Mental Health - Randy Crabtree
Rory Henry and Will Hill talk with Randy Crabtree of Tri-Merit and Host of "The Unique CPA" Podcast about finding your passion and mental health. In this episode, Randy talks about his battle with mental health and how he is helping bring awareness by letting others know about his struggles. Listen as they talk about the powerful combination of visionaries, who have groundbreaking ideas, and their integrator partners who bring them to life. Find out what Randy says about Eisner Amber, Citrin Cooperman and Private Equity's increased involvement in accounting. They discuss the importance of a niche, how to become an expert in a field and educating others to help drive business growth. Don't miss this episode with one of the accounting professions leading voice "The Unique CPA" Randy Crabtree.
Goodwill Hunting & Charitable Strategies
In this episode, Rory speaks with Randy Fox of Two Hawks Consulting about wealth and charitable planning strategies. Randy talks about exit planning strategies, personal goodwill, and how to carve out the value attributed to an owner's name, reputation, and key relationships. Discover why CPAs are uniquely positioned to help families and business owners with their estate planning needs. Randy breakdowns the 3 possible beneficiaries of a person's assets: the family, the government, or charity. Why do so many business owners prioritize tax savings during their wealth accumulation phase but fail to plan for taxes during the exit phase? Do you want to know what Robin Williams, Aretha Franklin, and Prince have in common? Find out the answer to these questions and more on this Goodwill Hunting episode with wealth and charitable advisor Randy Fox.
Grow through CFO Services - Escape the Accountants Trap
In this episode, Rory interviews Adam Lean, the Co-founder, and CEO of the CFO Project, a company that provides training to financial professionals on how to offer CFO services. Adam shares the top ways to communicate financial concepts to business owners using a language they understand, rather than accounting terminology. Find out why Adam believes that 90% of an accountant's work will be done by AI and how practitioners can leverage it to provide more value. Discover why Adam thinks the role of a CFO should be to generate and sustain cash flow for their business owner clients and how to start that advisory conversation. Do you want to know why even a CFO for a large corporation like Coca-Cola or Microsoft could fail a client? Is reviewing a balance sheet with a dentist owner client the equivalent of getting your teeth pulled? Find out the answer to these questions and more on this CFO Project episode with Adam Lean.
High-Frequency Trading to Employee Stock Ownership Plans (ESOPs)
In this episode, Rory speaks with Darren Gleeman, Managing Partner of MBO Ventures, to discuss Employee Stock Ownership Plans. Darren shares his journey, from developing a high-frequency trading platform used in 1% of US market daily trades to now helping companies implement ESOPs. Listen as he discusses the beneficial tax treatment and why ESOPs are attractive to owners and employees of a corporation. Learn why the government views ESOPs as good public policy and how companies are leveraging them to increase retention rates. Do you want to know how a company can obtain tax-free income? Are you interested in finding out if an ESOP is right for your organization? Find out the answers to these questions and more in this ESOP episode with Darren Gleeman.
Behavioral Finance and Flow w/ Dr. Jordan Hutchison
In this episode, Rory speaks with Dr. Jordan Hutchison from Shaping Wealth about behavioral finance and flow. Listen as Dr. Hutchinson talks about his research on flow and how it can be achieved by doing something that is enjoyable, intrinsically motivating, and has a defined goal. He also explains how to structure your day to increase the likelihood of entering a flow state, and why flow occurs when you're doing a task that is both challenging and requires a high level of skill. Listen as they discuss the concept of "identity" and how people like Tom Brady or those who retire can find fulfillment in other pursuits. Do you want to know how executives in flow are doing 10-15% more work? Do you want to know why behavioral finance is like gravity? Find out the answers to these questions and more in this FLOW episode with Dr. Jordan Hutchison.
Goldman Sachs Small Business Program - Leveraging Many to One
Rory is joined by 2022 Women Entrepreneur of the Year Susan Bryant, CPA, CTC, and Principal at MB Group to talk about her entrepreneurship experience, growing an accounting firm, and how we can better serve our clients. Discover lessons learned from Susan's Goldman Sachs Small Business Program experience and her thoughts on a Many-to-One service model. Find out how Susan is leveraging EOS (Entrepreneurial Operating System) to run her business and better assist her small business owner clients. Are you looking for ways to delegate client duties effectively to other staff members? Do you want to know how shifting to a subscription model like Amazon and Netflix can increase client satisfaction? Find out the answer to these questions and more with 2022 Women Entrepreneur of the Year Susan Bryant.
Breaking the CPA Mold, Survivor, and 401k Technology Founder
Rory is joined by Kelly Mann, CEO and Co-founder of AuditMiner, as she shares her story of surviving breast cancer and creating a technology in the midst of a global pandemic. Listen as Kelly talks about her FBI Training experience in Quantico, Virginia and what led her back to the world of public accounting. Discover how Kelly identified major pain points in the 401k process and how googling "How to start a technology company" changed her life. Learn how Kelly and her team have standardized the 401k datasets which are saving firms 10-20 hours on plans. Do you want to know the secret to building a great workforce? Find out the answer to this and more in our latest episode with Audit Technology CEO Kelly Mann!
Advice Engagement: Secure ACT 2.0, Tax & Financial Planning
Rory is joined by Ross Riskin CPA/PFS, Chief Learning Officer at the Investment & Wealth Institute and Founder of VisiWealth as they talk about advice engagement. Learn about SECURE ACT 2.0 and the changes to RMD's, college savings, and retirement planning. Discover why fear, confusion and anger are the three main emotions people have when dealing with taxes. Find out why Ross believes advisors should be doubling down on student loan planning. Do you want to know what 2 out of 3 survey participants sought advice for from a CPA? Do you want to know why visuals are so effective in communicating complex concepts? Find out the answer to these questions and more with Ross Riskin in this Advice Engagement episode!
Winning the Talent Battle
Rory is joined by former Managing Partner at BDO, current executive leadership coach and CEO Sensei John J. Fenton to talk about culture and how to win the battle for talent. Listen as John talks about why people skills, more than ever, are important for today's leaders. Discover what John says about how firms can create a culture of accountability. Do you want know what separates a good accounting firm from a great one? Do you want to know what John says are the top priorities for accounting firm leaders are in 2023? Find out the answer to these questions and more in this CEO Sensei podcast with Leadership Coach John Fenton!
Higher Prices, Higher Profits and High Value Clients
Rory is joined by Loren Fogelman of Business Success Solution to talk about how to increase your prices and present your value. Learn about Loren's 5 step process to shift your business away from the “dollars-per-hour” model to a value-based model that reduces workload by as much as 50% while doubling revenues. Find out about Loren's good, better, best pricing methodology and how to increase your prices by as much as 3x. Is Starbucks really in the meeting space business? Do you want to know why you should add surge pricing like ,Uber, FedEx and Amazon? Find out the answer to these questions and more with Business Success Coach Loren Fogelman on this pricing and values based episode!
ChatGPT and AI Implications
Rory is joined by guest co-host Seth Fineberg Accounting Editor and Business Journalist, as they talk with Ben and Peter Wen of Tallyfor about ChatGPT and AI. Discover what they say about the history of AI within the profession and how practitioners can utilize the latest AI developments to enhance their efficiency and client outcomes. They also discuss how platforms like ChatGPT will impact Google and other search engines in the marketplace. Find out what they say about AI and the 75 Million Boomers that will retire by 2031 along with over $5 Trillion in business assets. Do you want to know what a Stochastic Parrot is? Find out the answer to this and more on our AI in accounting podcast with Seth Fineberg and Founders of Tallyfor.
Kickoff 2023 & Best of 2022 - Part 2
In part two of our year-end review, Rory Henry highlights the Best Insights and Inspiration from 2022. Listen to accounting and wealth management thought leaders talk about sentiment analysis, tax planning, behavioral finance, opportunity zones, AI, advising business owners and much more.
Highlights of episodes from the following guests:
- Blake Oliver, CPA Oliver and Warren Pennington Head of Fintech Strategies at Vanguard - Sentiment Analysis
- Blake E. Christian, CPA/ MBT HCVT Top 25 Nationally Recognized OZ Influencer - Opportunity Zones
- Chris Stanley Beach Street Legal - SEC Marketing Rule
- Jackie Meyer, CPA, CCA, Doctoral Candidate - Tax Planning to Supercharge Your Business
- Dr. Moira Somers International Best Selling Author - Advice that Sticks
- Peter Wen Co-Founder Tallyfor - AI and Tax Technology
- Will Hill of Will Hill Consults - Leading Through Change
- Giles Pearson Co-Founder Accountests - Personality Profiles
- Deborah Daniel CPA - Forming Strategic Partnerships
- Twyla Verhelst, CPA Verhelst FreshBooks - Authenticity and Content Creation
The Best Insights & Inspiration From 2022
In this year-end review, Rory highlights the Best Insights and Inspiration from 2022. Listen as you hear from accounting and wealth management thought leaders talk about everything from talent to tax loss harvesting to pricing and private equity. Get commentary from the following great guests:
Tom Wheelwright CPA - Wealthability
Boris Khentov – Betterment
Randy Johnston – CPA Practice Advisor
Geraldine Carter – Business Strategy for CPAs
Aaron Klein – Riskalyze
Bob Lewis - The Visionary Group
Dr. Sean Stein Smith CPA - Forbes Crypto Contributor
Amber Setter CPA – Conscious CPA
Clayton Oates - QA Business Pty Ltd
Sue Enquist & Dawn Brolin CPA
Jonathan Hudacko - Vangaurd
Randy Crabtree CPA - Tri-Merit
Brendan Frazier - The Human Side of Money
Hitendra Patil CPA - CPA Trendlines
Amrith Ramkumar - The WSJ
Rick Bookstaber - Fabric
Risk Aware - Recession, Deglobalization, Ukraine/Russia War, and FTX
Rory speaks with Rick Bookstaber, former Head of Risk at Morgan Stanley, Author of The End of Theory and A Demon of Our Own Design, and current Co-Founder of Fabric a platform for risk-aware portfolio design. In this episode, listen as Rick talks about his time at the SEC and U.S. Treasury as he tackled the risk management process and governance for the U.S. financial system post-2008. Find out how Rick is using institutional-level tools to help advisors be more risk aware and do a better job of portfolio design. Do you want to know what "Friendshoring" is? Do you want to know why a "Recession" is not the dominant issue for most individuals? Find out the answer to these questions and more in this RISK episode with Author and Risk Technology Founder, Rick Bookstaber.