For those of you wondering why the big gap between shows, I recently returned from a two week trip to Italy with my family and promised myself that I’d unplug which I very much did. Lots of pasta, Brunello, more pasta, some aperol spritzes and I think we managed to fit in a gelato just about every day! I now know why all of my friends and clients named Italy as one of their favorite places in the world. Besides the amazing food and wine, the landscape and views were incredible and everyone really does treat you like family over there. So for those of you who have it on your list of places to see, make sure you bump it up a few spots for me… ok, on to today’s conversation.

I’m thrilled to speak with Gina Rainey. As the leader of AE Coach at Advisors Excel – Gina specializes in “total practice management” where she set out to help advisors bridge the gap between the process-driven brains of their employees and the quick start entrepreneurial mentality many independent advisors operate by. Over the last decade, she’s helped offices struggling with high turnover and lack of structure become high-performing organizations, she’s empowered advisors to learn how to better utilize their time and revolutionize their business which has led them to grow like few others in this industry.

Gina’s fingerprints are on almost all of Advisors Excel’s top performing practices, and there’s a reason for that. Today, she makes a long-overdue appearance on the podcast to talk about how she helps implement organizational change that leads to massive returns.

 

Here are a just a handful of the things that you’ll learn:
  • [11:11] First, Gina explains her philosophy when working with a brand new office. She focuses on 2 primary principles: 1.) How an advisor spends their time is what determines their success. 2.) But, the team is what determines their freedom.
  • [07:11] Next, she takes us through the framework of how she helped an advisory firm address their operations issues and skyrocket from capturing $8 million in new assets per year to over $200 million – just five years later.
  • [20:41] From there, Gina shares stories of key hires that took advisor practices to levels they didn’t think were possible – and the signs that indicate when you’re ready to hire, even if it may seem like a risky move.
  • [32:30] We then talk about why conditioning employees to be reactive hurts so many businesses – and how you can empower your team by making sure your support staff is one step ahead of you.
  • [37:11] Then Gina shares the rules to her favorite game “Let’s pretend to be your client for the day” and what it can tell you about how your prospects and clients experience your firm and why viewing your practice through their eyes can make all the difference.
  • [48:31] Next, we dive into what Gina believes needs to happen in weekly team meetings, as well as when to hold them – and why advisors are often not the best to lead them.
  • [1:06:07] Finally, Gina shares her favorite success story from her years of coaching – and the life-changing transformations advisors go through when they focus on what really matters.

 

SHOW NOTES:

  • [11:57] The two key factors that determine an advisor’s success.
  • [14:53] How Gina can tell if a client is going to revolutionize their business.
  • [16:31] The mindsets Gina encounters in people who are capable of tremendous growth.
  • [18:56] Gina shares a story of a firm that joined Advisors Excel that received nonplussed feedback – then became one of her top 3 offices.
  • [19:59] Why many advisory firms will see a dip before they experience major growth – and why you need to power through it.
  • [23:50] Why it’s okay to be overstaffed if your business is running well.
  • [25:18] Gina shares a story of an office that refused to spend enough on their staff – and how it hurt their business.
  • [28:31] Why A+ players – and the exponential output they give firms – are essentially free, no matter what they charge.
  • [29:39] Gina’s advice for advisors who insist on doing all of their paperwork themselves.
  • [32:43] How Gina opens her seminars – and why so many advisors see themselves in the problems and scenarios she presents.
  • [42:45] The importance of maintaining a positive focus – and why so few advisors take the time to slow down and reflect.
  • [56:31] Why Gina believes you should hold your team and marketing meetings in the morning in order to make sure they actually happen – and why advisors often don’t like this model, but it always proves to be worth it in the long run.
  • [59:60] Why you can’t manage people – but you can manage processes.
  • [01:02:12] The surprising thing one advisor did to get back into flow after failing to close a referral.
  • [01:03:25] Why boredom leads people to change their sales processes – and why Gina recommends advisors proceed with caution when they attempt to overhaul their offices.
  • [01:12:17] How you can show your clients that you’re rooted in your family and your community – and make people care about you.
  • [1:12:51] The #1 thing Gina recommends throwing into your newsletter to make sure it actually gets read (HINT: It’s DEFINITELY not what you think!).
  • [1:15:01] Gina’s advice for her 20-year-old self.
  • [1:17:16] What Gina wants to look back on and see considered absurd in 25 years.
  • [1:20:37] The first person Gina thinks of when she hears the world successful.
  • [1:22:54] Why work ethic has been so key to Gina’s success.

PEOPLE MENTIONED

SELECTED LINKS FROM THE EPISODE

REVIEWS OF THE WEEK

Thanks for checking out the latest show, and as a reminder make sure to tune in for the next episode for a special surprise announcement that many of you have reached out and been asking for… I won’t spoil the surprise, but it’s going to be big if you are a podcast lover!!! Now, on to this week’s featured reviews!

This week’s first review comes to us from user D-train150 who says:

Thanks for the kind words and the review! Loving that the show is helping you pass some windshield time and with a username like D-train150 I’m can only assume when you say workout that you’ve definitely listened in while doing some curls and tricep extensions with maybe a side of some bench press mixed in!!! So, I’ll continue to keep the great guests coming and do my best to keep sending business building ideas your way.

The next review comes to us from user AZ Cardinals are 4 real! who says:

Thanks for the stellar review Mr. AZ Cardinals, the eclectic mix of guests from not just within our industry but from many others is what keeps the show fun for me as well. As long as they have ideas or concepts that can apply to financial services, every one is fair game. And with that in mind, if any of you have some guest suggestions, hit me up out on Twitter and let me know. My username is @Brad_Johnson, give me a shout!

Next up is user sm631 who says:

Thanks for listening in sm631, and for the 5 star review! I love that the show has helped you along your journey to becoming an advisor and I hope the studying is going well for the series 7 or even better that you’ve officially passed by the time you hear this. The best tip I can share with you once you make the official transition is the #1 and only marketing metric you should track on a weekly basis is 1st appointments when starting out. That is the difference between success and failure in this business, especially when starting out. Good luck on your new career path!

And the last featured review for the week comes to us from 84bbchamps, who says:

Thanks for the review 84bbchamps! These type of comments really do keep me motivated to keep cranking out episodes for you all and it’s been incredible to connect with more and more of you who continue to apply for the 1 on 1 coaching sessions through the website. Thanks for making the show one of your “go-to’s” and love the focus on getting better every day!

 

Take the 1st Step to Building Your Ideal Practice: Apply for “Virtual Discovery Session

For those of you that have interest in diving deeper or figuring out how you may be able to have our team help you implement many of the ideas shared on the show, my day job happens to be consulting financial advisors from all over the US on how to grow their business and design a practice that serves them, versus them serving it. Yes it’s possible to grow your business and work less, this is a model we’ve replicated over and over in markets all over the country… So, if you’d like to apply to see if it makes sense for us to have a 1-on-1 conversation on how to overcome what may be getting in your way, you can do that at bradleyjohnson.com/apply. It takes about 5 minutes to fill out the application so we can understand what your business looks like, what challenges you may be facing and how myself and my team may be able to help. We then dive into a Discovery session where we ask a lot of questions based on your survey. We do a lot of listening, and take a lot of notes to build a rough draft of our proprietary Elite Advisor Blueprint – 90 Day Plan™. Taking the first step is as simple as applying at bradleyjohnson.com/apply 🙂

 

Already heard it once or twice? Please leave a short review here, and tell me which guests I should have on!

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TRANSCRIPTS

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DISCLOSURE

This is provided for informational purposes only. AE06184079 For financial professional use only.