Welcome again to the 353rd episode of the Monetary Advisor Success Podcast!
My visitor on in the present day’s podcast is Brett Danko. Brett is the Founding father of Brett Danko Instructional Heart, a CFP Board Schooling and Examination Prep supplier, and the CEO and Managing Accomplice for Most important Avenue Monetary Options, an impartial RIA primarily based in Newtown, Pennsylvania, that oversees nearly $2 billion in property underneath administration for practically 1,700 shopper households.
What’s distinctive about Brett, although, is how he has leveraged his ardour for educating to construct probably the most widespread CFP examination prep applications within the nation, whereas additionally rising his personal RIA to $2 billion in AUM… by specializing in simply his distinctive monetary planning strengths, and studying to delegate the remainder by hiring a President, Chief Working Officer, and Chief Monetary Officer, who give attention to the day-to-day administration of the agency itself.
On this episode, we speak in-depth about how Brett teaches trade professionals looking for their Licensed Monetary Planner certification by offering complete fast-track programs that span simply 7 months and finish with a stay digital or in-person examination prep overview, how Brett iterated on and developed his examination prep applications with a recognition that as he places it, there isn’t a “CFP cum laude”, and consequently retains the main focus very straight on what it takes to move the examination (as a result of you might have a lifetime as a practitioner to maintain enhancing and deepening your information afterwards anyway), and why Brett jokingly refuses to acknowledge when his college students humor the considered failing as a result of he believes that planning for failure is simply giving your self permission to fail and that an essential a part of passing the CFP Board examination (and reaching objectives in life) is believing in a single’s self and visualizing success.
We additionally discuss why Brett personally solely presents monetary planning on an hourly foundation and leaves asset administration to the opposite advisors of his RIA (in order that he can have the pliability to show his programs whereas nonetheless gaining expertise and information as a working towards advisor), why Brett buildings his agency as nearly a platform for advisors, the place, regardless that the advisors are technically W-2 workers and the agency pays for his or her workers, overhead, and expertise, they personal their very own shoppers, and design their very own payment schedules and portfolio fashions in order that they’ll focus extra on serving their shoppers to one of the best of their skill, and the way Brett manages his time and obligations as a Founding father of two companies that every have their very own administration groups (his advisory agency Most important Avenue Monetary Options, and the Brett Danko Schooling Heart) by recognizing that he’s a “macro” individual and has to encompass himself with “micro” people who find themselves good in any respect the micro-details to ensure all the things truly will get performed.
And make certain to take heed to the tip, the place Brett shares what it took to get snug with delegating a lot accountability for his companies to key group members, how, after shedding a job in his early 30s, Brett suffered from extreme despair, however by means of remedy, discovered the boldness he wanted to reinvigorate his passions and finally determined to stipulate a ‘manifesto’ of objectives he needed to realize which included launching the advisory agency and academic programs that he spent the previous 20 years constructing, and why Brett means that advisors of their 20s ought to search out mentors not simply to be taught but additionally to assist them acknowledge in themselves their strengths and their weaknesses as a result of it is that self-awareness that makes it simpler to search out the work and sort of agency you’ll actually take pleasure in for the remainder of your profession as an advisor.
So, whether or not you’re thinking about studying about how Brett buildings his CFP examination prep programs and his fast-track applications, how Brett differentiates his applications from different CFP instructional applications, or why Brett believes strongly in growing agency tradition to develop a profitable enterprise, then we hope you take pleasure in this episode of the Monetary Advisor Success podcast, with Brett Danko.
