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Get a Lit Profit Margin

WOW that’s painful to talk about. Could your financial advisor practice be more profitable? Have you studied and measured its profitability? While helping the world with their retirement you just in fact may be neglecting your own.

In this episode with Jim Palumbo of DYNAMIC Advisor Solutions, advisors will learn:

  • Why the profitability of your practice is matters to your clients
  • The value of seeing yourself as a business rather than just a professional practitioner – both for yourselves and for your business owner clients
  • How far you can cut costs and which costs you should and should not cut
  • Two ways to grow your business and how to go about them
  • Profit margin guidelines for advisors who are acquiring other practices
  • How Jim got his business to 80% gross profit margin when he was an advisor
  • The likelihood of local talent meeting the needs of your practice

Please subscribe, rate, and review this podcast!

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Less is More (For Sure!)

How many people look forward to that website upgrade? Nobody. People would rather use someone else’s toothbrush.

You are making it harder than it needs to be by including way too much content. This is a date not a marriage, party people.

I’m joined by Jared Gold, a website expert who helps build professional websites – quickly & cost-effectively – that are super easy for clients to maintain. He runs Brevity for more established firms and WebsiteByTonight for simpler sites (e.g. new firms and solo practitioners).

Enjoy! Please subscribe and rate and review this podcast!


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Getting More Women into Financial Advising [Brutal Honesty]

As you know, we tell the real story on the Sara Grillo podcast.

Women are about half the population and they are increasingly seeking financial advice on their own, and seeking it from other women. So why in heavens are women still underrepresented and underpaid relative to men in the profession?

And I’m happy that I had two very insightful people on this episode of my show to help me answer it.  We feature Marina Shtyrkov, Research Analyst at Cerulli Associates, and Katie Keary, Wealth Advisor at Buckingham Strategic Wealth.

You will learn:

  • Why the choice of firm matters – good and bad examples
  • How changing compensation structure and using a teaming approach can help
  • The power of sharing stories and having successful women as influencers
  • What men can do to support women in the industry

Thanks for listening and please subscribe!


Resources mentioned in this show

Data USA. (n.d.) Data USA: Personal financial advisors. Retrieved from

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5 Questions You Should Include On Your RTQ (But Aren’t)

Here are five questions to add to your financial advisor risk tolerance questoinnaire.

Let’s be real…the risk tolerance questionnaire as we know it doesn’t get the job done. That’s why I’ve got John Morgan of Connected Consultants on the show this episode to discuss the five questions you should (but probably aren’t) asking on your RTQ.



About John Morgan

John Morgan is the Founder & Managing Member of Connected Consultants, LLC in Boca Raton, FL. His company helps solve many of the “Pain Points” felt by both Advisors and Firms. In this capacity, he assists Advisors with affiliation questions and choices, getting in front of more qualified prospects, engaging prospects & clients on their terms using validated behavioral insights, protecting your practice and firm from unnecessary litigation and the reputation loss which comes along with each infraction and more. In a nutshell, Connecting great people with incredible firms and Fintech innovations around the world!

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Hail, Mighty Amazon!

Is Amazon the next big player in financial services? Listen to hear Ric Edelman's take as well as his advice for what it means to be competitive in the digital age of financial advice.

To quote the great Ric Edelman, who I was honored to have as my guest on this episode of my show,

“Either run your practice the right way using technology correctly or join another practice where they’re doing it on your behalf…We need to recognize that the way you’ve been building your practice for the past 20 years is not the way you’re going to be able to continue operating your practice for the next 20 years.”

The options are: join the movement, or join the movement.

And so here we are in the age of Amazon where the customer experience is king. Will the tech giants be the next big players? Or does brick and mortar still have an appeal?

Listen to hear more about what being competitive means in the digital age of financial advice. You’ll also hear all about Ric Edelman’s fantastic sock collection as  shown below:

Ric Edelman has quite an interesting sock collection, as evidenced below.


Resources mentioned in this show

How Amazon Will Dominate Wealth Management


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Financial Advisor Who Gets Leads from YouTube

Here is a story of a financial advisor who gets leads from YouTube.

This podcast episode is about to knock your socks off.

Meet my buddy Josh Scandlen of Heritage Wealth Planning. In the one year since Josh went independent as a financial advisor, his YouTube channel has furnished him with enough leads to where (in only one year of being in business) he has stopped taking new clients.

Listen to this story of a financial advisor who gets leads from YouTube. We’ll talk about how and why he did it and what advice he has for advisors who want to stop fighting Google and build their businesses through social media.

Enjoy! And if you don’t mind, please subscribe, rate, and review this podcast.

Resources mentioned in this show

Miles Beckler YouTube channel

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Ways to Get Rich People to Go To Your Website

In this interview with Kirk Deis of Treehouse51 financial advisors will learn the ways to get rich people to go to your website.

One of the biggest frustrations that financial advisors have is that their websites don’t attract high net worth clients. Much of this has to do with the way that the website is designed. Do you know what Google is looking for?

We’ve got Kirk Deis of Treehouse51 here with us to talk about what web developers don’t tell you regarding the ways that financial advisors can get rich people to go to their websites.

  • Difference between custom and template websites in terms of what it offers you in terms of getting rich people to go to your website
  • Advantage and disadvantages of using a template website – how it impacts your ability to get rich people to go to your website
  • How much you will spend on each type of website and what you get for the price
  • Things a low cost web developer may do that would not be in your favor as a financial advisor
  • What a custom website can typically cost (initially) and how to negotiate with a developer for the best price
  • The costs you need to think about if you have a custom website on an ongoing basis
  • What you should do first if you are thinking about using paid advertising to attract high net worth investors to your website
  • What you’re missing if you’re not using the data that Google gives you and how can kill your marketing ROI
  • How you can target high net worth investors using Google because Google knows everything about us
  • The exciting things you can do with YouTube that nobody is really doing in the financial advisor space
  • The shortcut to getting in front of a high net worth audience that your competitor or an influencer has already done the hard work to gather
  • How ranking well in YouTube can be better than blogs in terms of getting found on Google
  • What it can potentially cost to do paid advertising – what you should budget
  • Some tips for your Google Adwords campaign

Please subscribe, rate, and review this podcast!


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Talking about Risk does not have to be a Molotov Cocktail

There are a variety of reasons that advisors feel like clients just don’t “get it” when it comes to risk. I’m going to name a few.

Do any of these sound familiar to you?

  • They want low risk but high returns
  • They don’t grasp the idea of uncertainty or loss until they feel it
  • They don’t understand long term investing
  • They have recency bias
  • They don’t get it that long term growth comes with short term volatility
  • They view short term volatility as a risk
  • Clients answer the exact same risk tolerance questionnaire differently each time they complete it
  • They don’t fully grasp the concept of risk when talk about interest rate risk and purchasing power risk
  • They think they can tolerate more risk than they really can (usually revealed when markets drop)

Ridiculous. And, explosively dangerous.

Why is this so hard? Does client risk tolerance have to be as incendiary as as Molotov cocktail?

We can’t change our clients’ behavioral tendencies. But what is well within our control is our ability to understand and respond to their attitudes towards risk, no matter what they may be. This is the only solution. Blaming or arguing with the client is a pointless conversation.

I’m so excited to have Hugh Massie, founder of DNA Behavior, on the show to discuss exactly that!

You will hear about:

  • What does risk mean? The difference between risk need, risk capacity, and a client’s natural level of risk.
  • That the words matter. Example: “risk tolerance” vs “loss aversion”
  • How advisors themselves may have a different risk profile than the client, and how this skews things
  • Behavioral biases and cognitive biases that people have
  • One of the most neglected topics- people’s spending patterns and the impact of that on risk
  • Why the risk tolerance questionnaire is situationally-biased and should not be relied upon on its own as a measurement of risk
  • How to adapt your communication style to serve the client on their terms– people hear risk differently depending upon their personality
  • Why you should consider using a team approach to make sure there is proper client-advisor match
  • Methods for integrating a behavioral assessment into your practice
  • What to do if two partners have a completely different risk measurement

Thanks for listening and please subscribe, rate, and review my podcast!



Grillo Investment Management, LLC does not guarantee any specific level of performance, the success of any strategy that Grillo Investment Management, LLC may use, or the success of any program.

Grillo Investment Management, LLC will strive to maintain current information however it may become out of date. Grillo Investment Management, LLC is under no obligation to advise users of subsequent changes to statements or information contained herein. This information is general in nature; for specific advice applicable to your current situation please contact a consultant or advisor.

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The Formula for a Burning Hot First Date

Here are some tips for financial advisors who want to assess a prospect's financial personality before the first meeting.

I’m locked down with kids now, but how fondly do I remember the dating game of my twenties.

I’d meet a dude at a bar or something, he thought I was fly and I thought he was fly. Probably we’d both been drinking a little bit. We’d agree to go out on a date and I’d get all dolled up. Then the next weekend I found myself sitting there across from the guy saying to myself, “Holy smokie bookie. Get me outta here.”

Not a match!

I wasted a decade going on first dates that I thought were going to be hot. Just like you financial advisors can waste a lifetime meeting with prospects who (by traditional measures) seem to be very qualified for your services but just do not fit in terms of personality. You will waste even more time and money if the wrong prospect then decides to become your client.

It’s called chemistry and when it’s wrong you’re not getting anywhere. Period.

Financial advisors do the same thing with new client relationships. I know, because I talk to advisors all the time who tell me they have done this. And I did the same thing myself, going out on a first date and marrying the wrong client. You’ll never get anything from these people other than frustrating non responses, disputes, and terminated relationships.

That’s why I am welcoming Akshay Singh of Advisory Match who in this episode is going to tell financial advisors how you can find out if a client is going to really be a personality match or not before you go on the first date.


Please subscribe, rate, and review my podcast!

Grillo Investment Management, LLC will strive to maintain current information however it may become out of date. Grillo Investment Management, LLC is under no obligation to advise users of subsequent changes to statements or information contained herein. This information is general in nature; for specific advice applicable to your current situation please contact a consultant or advisor.

We make no guarantee that the information on the Site is accurate and non-misleading. Grillo Investment Management, LLC, will not be liable to you in relation to the content contained herein, use of, or any connection with the Site. Grillo Investment Management, LLC, will not be liable to you for any business losses or loss of revenue, profits, or data that may occur in connection with the Site.