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Advisors of Horizon are Registered Representatives of Cetera Advisors a broker/dealer and Registered Investment Adviser.

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 bring us Part 2 of their discussion on “Growth by Acquisition”. They’ll continue the conversation by talking about networking, continuity and succession partnerships, marketing and outreach programs, and looking for the “seeds of discontent”.

 

  • 01:22 – Bill enquires from Chad that who needs to know the story?
  • 03:05 – Chad suggests considering the support staff that helps you through your broker dealer. He mentions that their growth officers and consultants have been very good for them, because they lean in a lot.
  • 05:35– He highlights to pay attention to some of the people who might be approaching retirement and those things that are going on right now may be within your own circle.
  • 08:25 – Chad says that face-to-face discussion with clients / prospects is worth, it's always better than, an impersonal approach. He also states that as far as for prospecting and making connections is concerned, he leverages it every single week and day, he’s on LinkedIn, looking for opportunities.
  • 10:40 – Chad points out that the avenue of continuity of succession, it doesn't matter the age, but typically somebody's coming-up to the age of retirement somewhere around 65, 70 or 75 years, that's a good one. That's a good conversation starter.
  • 13:15– Bill questions that what can we do marketing wise, and kind of that outreach to really push prospecting forward?
  • 15:40 – Chad highlights that the other thing he’s going to probably do next year is start doing like a gift card campaign.
  • 17:50 – Bill asks about the subscription service and asks Chad to elaborate on that.
  • 19:15– Chad explains about the Message Movers service, that's a communication that we come out typically every month or two months.
  • 21:15 – He says there's this term called ‘Seeds of Discontent’, this is one of the first things he learned when he got into this business.
  • 24:00 – Bill thinks that “If you're in a partnership or you're in a silo situation and some other guy dissolves that, then it's like what do I do.”
  • 26:40 – He says that if there's one thing that kind of take away from all this is really the timing portion of this based on the statue game alone, the opportunity is really out there
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Three Key Points

  1. 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 mode.

 

  1. 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.
  2. 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.

 

Tweetable Quotes

  • “Also consider the support staff that helps you through, your broker dealers, growth officers and consultants has been very good for us, because we lean in a lot and we leverage a lot of our partners.” - Chad Soileau
  • “There are all these external sources that are out and running into other advisors. We don't even know another opportunity, so obviously, that's important place.” - Bill Bush
  • “Well, boards, like for me, I'm on the FPA board, right.” - Chad Soileau
  • “Only you know, between 25 and 30% of these people have continuity partners.” - Chad Soileau
  • “Because there are a lot of places to where if you're captive, you can only transfer that book to someone already inside of that captive agency.” - Chad Soileau
  • “So, I always kind of say this right as Advisors, your ears get tuned, right?” - Chad Soileau
  • “Acquiring a book takes a lot of work and patience. It is just like prospecting, go into it understanding it's there's no easy button.” - Chad Soileau
  • “And in the meantime, go kiss some frogs.” - Bill Bush

 

Resources Mentioned

Call the Horizon Financial Group: (225) 612-3820