Why Serving Business Owners is the Secret Sauce to Building a Vibrant Wealth Management Firm

Modern Financial Advisor

In this illuminating episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Jason Early, CEO of RISR, to discuss how targeting business owners can massively elevate a financial advisor's practice.

The discussion covers why treating a privately held business as just another asset is a missed opportunity, and how business owners, who control a significant portion of private wealth, are an untapped client segment.

Learn how RISR's technology helps advisors understand and manage the complexities of business owner clients, moving beyond typical financial advice to drive substantial assets under management and deliver significant value. Don't miss the actionable insights on succession planning, risk management, and leveraging the unique needs of business owners to grow your advisory business.

Chapters:

00:00 Introduction to Financial Advisors and Business Assets

00:34 Welcome to the Modern Financial Advisor Podcast

00:38 Introducing Jason Early and RISR

02:24 Myth Busting: Business Owners and Wealth

04:25 The Complexity of Business Owners' Financial Needs

05:21 The Evolution of Financial Planning

06:34 The Importance of Comprehensive Financial Advice

07:54 Connecting with Business Owners

10:35 The Role of Financial Advisors in Business Succession Planning

13:00 Understanding the Business Owner's Perspective

16:26 The Riches in Niches Strategy

24:07 The Confidence and Competence Gap

28:49 Blue Oceans vs. Red Oceans

29:30 The Importance of Tools for Business Advisors

29:55 How RISR Works for Advisors

30:58 Financial and Qualitative Insights for Business Owners

33:02 The Growing Trend of Private Company Ownership

38:51 Advisors' Role in Business Succession and Exit Planning

47:19 The Complexity and Opportunity of Working with Business Owners

51:04 The Rise of Solopreneurs

53:56 Conclusion and Final Thoughts