Nov 11, 2021
In today’s episode of “The Confident Advisor Practice
Podcast”, a podcast from the Horizon Advisor Network,
hosts Bill Bush and Chad Soileau discuss on one of the things that
is talked about throughout the financial industry and network which
is ‘Growth by Acquisition’. In Part 1 of this 2-part topic, Bill
asks if you are ready to take on some growth.
- 01:10 - Chad gives an insight about ‘Horizon – The Advisor
Network’. He says that they also do consulting services and
nationwide they have about 55 producing advisors. They manage about
2.7 billion as a group, under management.
- 03:10 – He starts with some things to consider before we even
get the process started. He states you have to have the will and
the want because this is mostly a slow game.
- 05:06 – Bill asks about the “Capacity Issue”, he enquires that
if you a full book, and you're really busy with that, how do you
take on the additional capacity?
- 08:30 – Chad gives his views on why now is a really good time
for ‘Growth by Acquisition’. He mentions that roughly only 26 to
27% of advisors have an emergency continuity plan in place for
death and disability and only 13% have begun planning for
succession in retirement.
- 11:16: He says that to start with you need to identify what
you're looking for, and quickly and eliminate practices or books
that are not a good fit.
- 13:50 – As per Chad, when you can effectively communicate all
the things, it starts to take down the barriers of scepticism and
what you want to start doing just like with any client is. You want
to eliminate as much fear as you possibly can.
- 16:30 – Chad says that what he always kind of have on his
activity list is that he has a particular day in a week that he is
going to visit the websites, just to make sure he’s not missing an
- 18:10 – “Have you found a range on how good is the information
these type of resources are supplying?” asks Bill.
- Bill and Chad dive deep into the topic - ‘Growth through
Acquisition’; they give some suggestions that they have and advise
to have an open mind because there are a lot of things going on to
make things work. They discuss some of the things to consider
before even starting getting into that growth by acquisition
- Chad says that they have kind of a legacy platform which is
called Legacy Builder and it's available to Advisors who are
willing to do certain things through the broker dealer so, maybe
you need to check with the resources / websites that you have for
them. All of these resources have a free membership but the bigger
deal with most of these is that your membership will typically give
you quicker access.
- Chad advises to not to be scared of trying new things.
According to him, it's in this age, in this day, you have to be
inventive and you have to find a new angle to get in touch with
those opportunities. The big deal is just to be prepared, be top of
mind and to be preferable.
- “So, we have folks that are plugged into us all across the
country” - Bill Bush
- “There’s an element of time, how much time are you willing to
dedicate to this? You can say time, but I mean, really, it's like
activity for prospecting. You have to dedicate so much time every
week, every month, every quarter every year.” - Chad Soileau
- “But let's talk about why now, you know, is really a good time
for this.” - Bill Bush
- “So, I think what you got to do first is really identify, what
am I looking for? Right? That's kind of your starting point.” -
- “You have to create a plan to connect and develop an activity
plan.” - Chad Soileau
- “Let's get into some of the prospecting ideas and how do you
really go out there and find opportunities?” - Bill Bush
- “Sometimes I make a little bit of edits if there's something
peculiar, or that stands out in their message.” - Chad Soileau
Call the Horizon Financial Group: (225) 612-3820