Episode 0.1 : 09/19/2016

Building an effective practice

miniseries-ep-1-header

Steve Moore

President, Moore Solutions

Hosts:

Matt Smith
Managing Director
BMO Global Asset Management

Ben D. Jones
Managing Director – Intermediary Distribution
BMO Global Asset Management

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Miniseries episode 1:
Building an effective practice featuring Steve Moore

In part 1 of our miniseries on building an effective practice, Steve Moore discusses the seven habits in his book, Ineffective Habits of Financial Advisors and the Disciplines to Break Them. Matt Smith guides an overview of these seven habits and provides a framework for future episodes in the miniseries. They also discuss Steve’s career as an internationally recognized consultant to financial advisors and the unique path he has taken to get there.

In subsequent episodes, Steve will dive deeper into each of the seven topics as they relate to practice management. These include:

  1. Start living your dream
  2. Focus on quality clients
  3. Stop hoarding unprofitable clients
  4. Stop providing only investment advice
  5. Deliver WOW client reviews
  6. Team approach vs rainmaker approach
  7. Start selling through clients

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Transcript

Steve Moore – When you come from outside the industry and observe advisors and how they behave and the things that they do, it just didn’t make sense, many of the things they were doing.  So as I began to peel away at it to find out what more was happening, it turned out that they were just groomed in doing particular strategies that were unproven.  And in fact, in most cases, they were dysfunctional, but they continued to do them.  And the large extent, when you try and break that habit, which was very difficult to get them to do something new.  So I clearly identified it as an ineffective habit.

Ben Jones – Welcome to Better Conversations, Better Outcomes, presented by BMO Global Asset Management.  I’m Ben Jones.

Matt Smith – And I’m Matt Smith.

Matt Smith – In each episode, we’ll explore topics relevant to today’s trusted advisors, interviewing experts and investigating the world of wealth advising from every angle.  We’ll also provide actionable ideas designed to improve outcomes for advisors and their clients.

Ben Jones – To learn more, visit us at bmogam.com/betterconversations.  Thanks for joining us.

Disclosure – The views expressed here are those of the participants and not those of BMO Global Asset Management, its affiliates, or subsidiaries.

Ben Jones – This is the first episode in a mini-series that we’re doing with Steve Moore, the author of Ineffective Habits of Financial Advisors and the Discipline to Break Them.  During the episode, Steve talks about his fascinating background that brought him from a job in the NFL to becoming one of the country’s most prominent coaches for financial advisors.  In this episode, we’ll go into an overview of the seven habits that are outlined in his book and in subsequent episodes in the mini-series; we’ll go into detail on each of the seven habits.  To reward some of our early listeners around the launch of the podcast, we’re also holding a drawing to give away three copies of Steve’s book.  Stay tuned at the end of the show, and we’ll tell you how you can enter.

Matt Smith – I sat down with Steve Moore in Bellevue, Washington.  In a typical work week, Steve is traveling in the US or internationally to hold strategy sessions, conducting weekly calls with his clients and speaking to financial advisors about the industry he cares deeply about.  Steve’s career path to becoming a respected coach for financial advisors has been anything but straightforward.  Today I’m here in Bellevue, Washington, with Steve Moore.  Steve is a long-time friend of mine.  Steve published, in 2011, a book for financial advisors titled Ineffective Habits of Financial Advisors and the Disciplines to Break Them.  Steve, thanks for joining us today.

Steve Moore – Matt, thanks for including me.

Matt Smith – Steve, a good place to start would be with your background.  I’ve always been interested in the path people take in their lives and their careers.  Can you share with the listeners the journey of your career?

Steve Moore – Well, Matt, as you know, I started off as a football coach.  I started coaching in high school and went from high school to college coaching, and then into the National Football League where I coached 12 years.  And my last season of coaching, we won the division championship, but our Seahawks were just sold to another owner.  Nordstrom’s had been our owner, and they were wonderful owners.  This one, by all appearances, was not going to be very good for us.  We knew that, in time, he was going to move us out and bring his own staff in.  He couldn’t do it that year because we had won the division championship and made it politically impossible for him to do it.  And our kids were just leaving the house for their adult lives and Carol and I looked at each other and said, do we want to move on to another NFL town, Chicago or Miami or Dallas, you name it.  And we decided no, we didn’t.  We wanted to stay here in Seattle and be close to our kids and our grandkids.  We made that leap.  When I first made that leap into a company called the Pacific Institute, it was a nightmare for me.  If you think change is hard, I experienced it at the visceral level.  I went from flying first class and signing autographs to stumbling around the world not knowing the vocabulary of the business world.  But I had the good fortune of something happen.  Part of what the Pacific Institute did was deliver strategic planning.  The person who actually delivered it, there was a mistake made in his calendar, and he was double booked.  So they asked me to fill in with game planning for a client.  And so I went to do this planning session and all I knew what to do was game planning.  I just used a game planning metaphor throughout the exercise.  I sat with the group and I said we used to evaluate our opportunities based on down and distance, and what the defense was playing, and field position, and even clock to try and understand their personnel more completely and only then would we begin what we would want to go do.  I think you’d call that a situation analysis.  What would you consider key components of your situation analysis?  I just facilitated that.  Once we were done with that, I mentioned that for us to see whether we won or lost was pretty easy.  We’d just look up at the score board and ask them what was on their score board, and were they sure those were the right numbers to be targeting.  And we debated that, arrived at new numbers, and new direction.  And then I said we ran plays to try and beat our opponent.  I think you call them strategies.  What are the core strategies that we should focus on over this next year for you to be able to win your game?  We arrived at those.  And when we were done with the two days of planning, the head of the group took me aside and told me that that was the best planning that they’d ever experienced.  It was the first attempt that I’d ever made and it was at that time that I figured, I may have had something out of those years and years of game planning in the NFL, maybe it did lend itself to something in the corporate world, and understand more business strategy and began to refine my language in the business community.  And I developed a program called High Speed Strategic Planning that we’ve operated with for a long, long time working with banks and MMRs and had the good fortune of getting connected up at Microsoft, where I did the plan for Microsoft China, Malaysia, Singapore, Expedia, and Money and MoneyCentral, and work with Bill and Steve in the consumer strategy.  So I was able to have those rich planning experiences.  Along the way, I decided I’d help a friend who’d asked me to help him become an independent RIA here in Seattle, registered investment advisor.  He was in charge of sales of the asset management division of US Bank, but had never been an advisor.  So he left US Bank and became an independent advisor, and asked me to help him with a plan.  I told him, Rich, I don’t have any clue about what advisors do.  I don’t — at the time I didn’t even have one.  He said, I kind of do, but only because I’ve sold to them.  I said, well, if you want to risk with me, I’d be glad to sit down and tell you what the big boys do.  What the big boys do is they start where the rubber meets the road, meaning where the advisor would meet the client and they’d describe that overall experience and then they’d work their way backwards to what it is that we need to be able to create in order to actually meet the client’s needs.  We developed a strategic focus and we developed a service strategy and we developed a staffing model, and all the other strategies that he needed to create, we decided we’d focus on reoccurring revenue as opposed to just transactional revenue.  We decided we’d focus on revenue per client as opposed to just trying to sell to anybody who could fog a mirror.  And they went from zero assets to $1B to assets under management in five years.  That got the attention of Russell Financial Products Company, down in Tacoma, Washington, at the time.  And they began to introduce me to some of their other advisors.  That’s how it began.  Since that time, which was probably 20 years ago now, I just continued to observe and study and pay attention to what works and what doesn’t work.  Since that time, as you mentioned, I think I have worked with close to 2,000 advisory teams, helping them go from where they are today to some place special.  That’s how I got there.

Matt Smith – Great.  That’s a great story, Steve.  You’ve had a lot of really interesting and, like you said, rich experiences in strategy planning, all the way from the NFL to technology and now in the financial services industry.

Ben Jones – In 2010, Steve published Ineffective Habits of Financial Advisors and the Discipline to Break Them, a framework for avoiding mistakes everyone else makes.  Each chapter focuses on an ineffective habit and the details and disciplines needed to counter that habit, and ultimately improve the business of the financial advisor.  As I mentioned, we’ll go into each habit in greater detail over the next seven episodes of the series.  But for now, Steve gives a great overview.

Matt Smith – The first habit you address is stop living their dream and start living your dream.  Tell me a little bit more about this.

Steve Moore – Matt, that’s about if you’re a young person coming into the industry, let’s just say you’re through college, you’re 25 years old, and you go to work in a branch or in an office, and everybody around you is telling you what to do.  The branch manager or whoever you’re reporting to is kind of handing our merit badges.  They treat you as though you’re a 13-year-old boy scout after merit badges, the kind of the atta-boys of the things that they want you to do.  And if you’re doing them, you get those atta-boys.  So what do those atta-boys look like?  Those atta-boys look like the first person out of the cubicles and into an office is somebody who’s doing it the way the organization wants them to do it.  The first person in the corner office is the person who’s doing that even better.  As opposed to doing it the way you would like to do it, to create your own vision and go after that vision, you end up chasing a vision that somebody has in mind for you.

Matt Smith – In many industries, and I know this applies to financial advice, advisors are looking for — they’re looking to build a book.  They’re looking to increase the number of clients, but interestingly enough, your second habit is stop focusing on the quantity of clients.  You talk about start focusing on the quality of clients.  Tell me a little bit about that.

Steve Moore – The quantity of clients is what this industry was built on.  Sell to anybody who can fog a mirror, and if you sell to enough of them, some of them will be gems and you’ll end up surviving.  The problem with that is the numbers don’t support that.  The numbers are that 1 out of 243 actually moves from a small client to a large client.  So I’m going to work with 243 small clients for the next 15 years because one of them is going to become a large client?  This defies logic.  So we would encourage people to say no to that and, instead, target a richer marketplace.  In this society we live in, the medical specialists earn more than teachers.  A software developer in a decent-sized organization is going to earn more money than a police officer is.  So we suggest that people actually target a rich marketplace as opposed to one that’s not as rich.

Matt Smith – I like how you worded the third ineffective habit.  You say, stop hoarding unprofitable clients.  So advisors are hoarding unprofitable clients.  They shouldn’t do that.  You suggest they start disengaging unprofitable clients.

Steve Moore – Sure. We’re all brought up in this scarcity mentality, this scarcity industry.  Now, I know it’s scarcity because I lived in it.  Any time you’re in a win/lose world, where you have to win a football game or you lose completely, that’s a win/lose environment.  And win/lose environments create scarcity thinking.  I know that advisors are in win/lose environments because you walk into an office and you can see things stacked up with the leaders on the top and the people that aren’t as doing well down below, or the people that get invited to the Amalfi Coast trip are the winners, and the losers get sent home digital pictures from their friends that are on the trip.  At the annual conference, the winners are paraded on the stage, and the losers are in the audience clapping.  Well, those are win/lose environments, and win/lose environments create scarcity.  It conveys that there’s not enough of the good stuff for all of us.  So we have to hang on to the crumbs.  And if you think I’m kidding you about it, you might want to look at the bottom 50% of your book of business and see what percent of revenue comes from that bottom 50%.  People say, well, I don’t hoard.  I say, let’s do a little analysis of your book and see if you do or don’t.

Matt Smith – What do you suggest, then, to an advisor?  You say disengage.  That’s a soft way of saying fire clients.  What do you suggest they do with those clients?

Steve Moore – There’s lots of places they can go.  It’s really easy to tell them, our new minimum fee is $7,500 per annum.  You don’t need that level of service.  I can connect you with a robo advisor or a Vanguard or numerous places, and you can have your needs met at a much lower cost.  Can I do that for you?

Matt Smith – So, I’m an advisor and I’m going to just start firing some of my clients?

Steve Moore – From the bottom up, up until the time you rid yourself of 1% of your revenue, which could be 20% of your client base.  And once you’ve reached that point right there, then we suggest that you set a new, more bold minimum.  Perhaps it’s $7,500 per client, $7,500 of revenue per client.  And every time I bring one of those above that number in, I take 50% of the revenue that they’re going to generate, and I dedicate it to continuing to clean up the next group of clients that should be disengaged.  I bring a $10,000 client in, I take $5,000 worth of small clients, I move them off.

Matt Smith – Do you ever find advisors come to your sessions and say, well, all of my clients are profitable?

Steve Moore – They all think that they’re worth way more than they are, which is another similar work of Kahneman that he’s done.  Once you have something, it’s worth way more to you than it is to somebody else.  And so it’s just natural that — it doesn’t matter whether it’s an idea that you have that’s worth more to you than others, or the client that you have is worth more to you than others, the house that you have is worth more to you than others.  It’s just a phenomenon that we have.  So absolutely, that plays into it.

Matt Smith – Yeah, I think that’s called the endowment effect.  If you’ve taken all the time and energy to get that client and keep that client, you probably feel that that client is more valuable to your practice than maybe it really is.

Steve Moore – Exactly.

Matt Smith – Another habit you talk about in your book is stop providing only investment advice, and start providing wealth management advice.  Talk a little bit about that.  What’s the difference between investment advice and wealth management advice?

Steve Moore – Wealth management advice is more holistic.  It takes into account not just the investment returns, it talks about savings, it talks about tax-efficiency of what you’re doing for clients.  But it’s even more than that.  It’s getting people to the right estate planning attorney and making sure that they have enough life insurance and make sure that, if somebody is buying a new piece of property, that they’re taking money from something that is going to be — not going to suffer tax consequences.  It’s more holistic.  It’s helping people with money navigate this very complex world that we’re in in a more holistic manner.

Matt Smith – The fifth habit you address has to do with how advisors interact with their clients, specifically what happens during their face-to-face meetings.  The title of the chapter is stop delivering only investment reviews and start delivering what you call wow wealth management reviews.  What do you mean by this?

Steve Moore – First of all, let’s talk just a little bit more about the investment review, which was created however many years ago, all set up to create anxiety in the client so that, at the end of the experience, they drop a ticket and the advisor could go ka-ching and get their car payment made at the end of the week.  It’s all set up where you walk in an office and you’ve got performance charts up on the wall and if there’s a television, you’ve got it tuned to some financial network.  Walk into the office and the advisor can even have quote boards on screens where they’re turning from green to yellow to red.  All around creating anxiety that we’ve got to do something and we’ve got to do it right now, which is just the opposite of what we know is right for clients.  Why it is that institutional style of investing outperforms individual style of investing dramatically?  It’s because it’s a slow twitch.  It’s long-term.  It’s thoughtful.  You don’t react.  It’s just the opposite of what the typical review looks like for a client.  I would argue that, instead, that you try and set up a review in such a way that the client has the opportunity to experience more holistic wealth management, longer-term, slow twitch, richer.  The client walks in and the receptionist hops up, says welcome Mr. and Mrs. Smith.  Mrs. Smith, would your like a cup of Earl Grey tea?  Mr. Smith, would you like your black cup of coffee?  Wonderful.  I’ll go get your drinks and let Steve know that you’re here.  Why don’t you have a seat over here?  Very different welcoming.  When the client walks into the review room, you’ve got TV screen up, selected pictures for the couple that you know that are important to them with welcome Mr. and Mrs. Smith on the screen.  We start with what I would call the financial vision document, which is a statement of what the couple would like to accomplish in the future that will require planning, money, and time.  And the research is very clear that people have somewhere in the neighborhood of five to seven of these desires.  Advisors think that all they’re trying to do is beat a benchmark, but that’s not how real people think.  Real people think about getting enough money together to have financial independence, put enough money together to buy a cottage.  Put enough money together to put a deserving grandkid through Stanford University.  They think about using the money to go do things, not to beat benchmarks.  It’s a complete disconnect.  So that’s what the review looks like.  You review the financial vision document to make sure that you’re clear and they’re clear that this is a wealth management meeting, not a beat the benchmark meeting.  Next, you go to a road map, which we teach about making sure that, over time, you’ve covered particular topics.  And I think a two-year eight-quarter meeting schedule is appropriate to take on meaty wealth management topics once a quarter.  But in addition to that, monitor, are we on direction, are we on target for accomplishing the goals.  Not the goal, not beating the benchmark, but are we putting enough aside to take care of the things that we want to accomplish that require planning, money, and time.  Then we suggest that you take on a meaty wealth management topic per quarter, and it might be financial independence planning.  It might be that college funding for that deserving grandkid at Stanford University.  It may be a charitable group that you’re trying to contribute to in some meaningful way.  Whatever it is, you go deep in that one topic.  Once that topic’s discussed, the meeting’s over.  You quickly cover some education, some preparation for next quarter’s wealth management topic and you escort the couple out the door.  On the way out the door, you’re going to notice that the conversations changed now to something like taking the kids to Disneyworld or the trip to the Amalfi Coast, whatever they’re thinking of that’s on the top of their mind.  Go back to your office and you type up your follow-up e-mail.  First paragraph, what you covered in the meeting.  Next paragraph, what you do is you cover the things that you and your team are going to do on their behalf over the next quarter.  And then final concluding paragraph is what you need the couple to do on their behalf over this next quarter, and out it goes.  What you do is you take each of the touch points that’s connected to the review process, and drop a little piece of wow into each one of those.  So you call, set up the appointment, a little handwritten note goes out reminding the couple of that appointment.  Two weeks before the meeting, they get a little packet with a cover letter.  Also included is their financial vision document and their road map.  Wow, we’ve never seen that before.  They show up in the office and they experience the experience that I’ve just described for you.  And they’re a bit wowed by it.  They walk into the meeting room and they see that flat screen TV presentation was selected pictures that you know that are important to them.  They’re wowed a bit.  They go through the review and it’s all within the context of what they would like to get done that will require planning, money, and time, and they’re flat wowed by it.  You take the time to walk them out.  They’re wowed.  They get home and already in their inbox is a follow-up e-mail.  And they’re wowed.  The whole notion, the wow review, if you take all of the touch points and insert a little piece of wow into it so that the cumulative effect of it is a very big wow.

Matt Smith – You suggest to the readers of your book that they stop the rainmaker approach and start the team approach.  What do you mean by that?

The rainmaker approach is that you’ve identified somebody who’s a special rainmaker.  They’ve been able to go into the marketplace in such a way that they’ve got the charisma and they’ve got the gift of gab and they can spin language, such that it can rain money.  That’s the rainmaker approach.  And they typically organize around a group of minions who are supposed to support that person, going out and making rain.  Anything that stands in the way of that person being out making rain is the enemy.  And it worked.  It worked for the rainmaker.  It didn’t work for the team and it didn’t work for the client.  Now the shift is to actually view, not making the rain as the most important piece, but actually serving clients as a most important piece.  And in order to do that, you need to work effectively with a team.  Clear roles, clear areas of service and delivery that they’re going to provide for the client, a sense of collaboratively working with clients as opposed to what you have with the rainmaker approach.

Matt Smith – Steve, the final habit in your book is called stop selling to prospects and start selling through clients.  What do you mean by that?

Steve Moore – If you win the hearts and minds of your existing client base and your providing superior service, your clients know it.  88% of all new business comes in from referrals from existing clients, number one.  Referrals from centers of influence, number two.  When you’ve won the hearts and minds of your existing clients, they’re going to talk to their friends and their colleagues about you.  You’re going to get the called-in leads.  When you’ve won the hearts and minds of your existing clients, they’re going to talk to their accountant or their estate planning attorney.  They’re going to bring you their clients.

Matt Smith – Are you suggesting advisors that they ask all of their clients to refer other clients to them?

Steve Moore – In fact, I would argue not to do that.  84% of clients say they’re uncomfortable when their advisors asks them for referrals, so I would not make any 84% uncomfortable

Matt Smith – So how do these referrals come?

Steve Moore – Well, there’s three techniques.  One of them is what we call a sound byte.  You have just a little piece that you say over and over and over and over again to make it easily repeatable for your existing client.  So when they’re out and about with their friends, then all of a sudden their friend mentions an issue that they’re having and they say, gee, you should work with my guy.  Boom, out it comes.  The first time I experienced that, I was working at Microsoft with Jay Allard a guy whose organization that built Xbox.  I’m having lunch with him and he says — he asked where I was going after lunch.  I said I was going down to Russell Investment Group.  He says, what do you do for them.  I said, I work with some of their high net worth advisors.  And he said, oh, I need one of those.  And out of my mouth came, oh, of the top 25 wealth managers in the US, there’s only one located here in Seattle, and they’re friends of mine.  He said, can you connect me.  I said, I’ll do it tonight over e-mail.  I did and he became a client.  And that was just spontaneous.  I don’t even know how it came out.  But later on, I discovered how it came out.  They showed me the article.  They sent me the article.  They mentioned it a couple of times.  I had it on the tip of my tongue.

Matt Smith – They gave you the sound byte.

Steve Moore – They gave me the sound byte.  And out it came.  So number one is sound byte.  Number two is story time.  What I call story time is that in the beginning of a review, people are always chatting, how are things going and they tell you.  Eventually, they get around to saying, well, how are things going for you.  You say, good, thanks for asking, just the other day another good client of ours referred a colleague of theirs to us and describe the problem you fixed.  So what am I doing there?  I’m letting them know that I’m open for business.  I get business from referrals.  Over time, if I change my story recorder, I expand their knowledge of the types of problems that I solve.  So when they’re out and with their colleagues and their friends and they hear one of those issues, they say, gee, you should be working with my guy or my gal.  Those are the types of problems that he works on.

Matt Smith – So you’re planting these seeds without asking your client for referrals.

Steve Moore – Without asking for referrals.

Steve Moore – Third one, which is a very distant third, too, is just a client appreciation event, bring a friend.  It might be golf or it might fishing.  Just an easy way for one of your existing clients to introduce one of their colleagues and friends to you.

Matt Smith – Steve, I’ve read your book several times.  I really enjoy it.  And having read it, I know, for each of these habits, we’ve only scratched the surface.  So I would propose that maybe we take each one of these and create a podcast, do a deeper dive on each one of these habits, create a podcast for each one of them; what do you think?  Does that sound good?

Steve Moore – Matt, I’d love to work with you and I would love to participate in that.

Matt Smith – That would be great.

Ben Jones – We’re very excited to bring you seven more episodes in this mini-series with Steve Moore.  You may have picked up some valuable knowledge and tips that you can already put into your business to start improving your client relationships and business results.  Steve has a few parting words for advisors, both new and experienced, on how to start improving today to become a continual learner.

Matt Smith – Steve, for advisors listening to this podcast who want to start building these new habits, what should be their next step?

Steve Moore – I think it’d be real useful to get grounded in reality, to actually cause you to get stung a little bit about the way it is.  The way you can do that is you just take your book and create an Excel file and divide your clients into deciles, and come up with a percent of revenue per decile.  I think what that will do for most people is I think it will cause them to be dissatisfied with what’s in the bottom 10 and 20 and 30 — actually, maybe even in the bottom 50% of revenue.  What’s my reoccurring revenue per client in my bottom 50% of my book.  And that’ll tend to sting people to cause them to say what in the hell am I doing.  This is silliness.  It will create enough pain to try and fix the mess.

Matt Smith – You and I have worked on several strategy projects together and even I have — independently, I’ve always found this pareto principle to be true, which is 80% of your revenue is going to come from 20% of your clients.  It doesn’t always work out that way.  Sometimes it’s 90% of your revenue’s coming from 10% of your clients, right?  But it’s somewhere in that ball park.  Is that what you’re finding when you work with advisors?

Steve Moore – Exactly.  It’s somewhere between — it kind of looks like 70% to 80% of revenue is coming from the top 20% to 30% of their books.  Like I said, oftentimes we find that the bottom 50% is less than 5% of their revenue.

Matt Smith – How about for a new advisor?  Somebody just entering the industry or maybe has been in the industry for a year or two?  Any advice for that advisor building his or her career?

Steve Moore – Continue to grow.  Sometimes people get to a spot, and they think through university and so I’m there, I’m done.  I will tell you the enjoyment of this world is acquiring new skills and new competencies throughout our lifetime.  You and I have a good friend, Al Bandura, the cited living psychologist in the world.  And when I spoke with him a couple weeks ago about his new book, he was so excited about his book and the topics in it and the reviews that he’s getting.  He’s telling me how fun it is to be able to begin to develop a theme and to write on it and find gaps in your thinking and have to go in and fill in the gaps, to learn more about that particular topic.  And after the call, I got off and Googled him.  I couldn’t remember quite how old he was.  He’s 90 years old and he’s still trying to grow and become more than what he is.  What an inspiration for us.  And then finally, I just think that people should be striving for special results to try and strive for results that the typical people are getting, new rookies are getting, I don’t think that’s enough.  I would be striving for exciting results, something that you can set back and be incredibly proud about, that are beyond what would normally happen.

Matt Smith – Thank you.  That’s great advice in any field really.  Steve, I know you have a busy practice, you have coaching calls to make here, preparing for your next sessions.  So I’ll let you go, but thank you for taking time today to be part of this podcast.

Steve Moore – Matt, thank you so much for encouraging me to do this and being my partner in this.  Thank you, pal.

Matt Smith – You’re welcome, Steve.

Ben Jones – As you can tell, Steve has a wealth of insight into how advisors can really grow their businesses into something that clients are wowed by.  For show notes and links to Steve’s book, go to bmogam.com/betterconversations.  That’s bmogam.com/betterconversations.

Matt Smith – We mentioned earlier that we’re holding a drawing to reward some of our early supporters of the podcast.  To enter the drawing to win a copy of Steve’s book, simply leave a review of the podcast in iTunes.  We’ll randomly select three usernames from the reviews and announce the winners during our mini-series episode on October 3rd.  If you’re unfamiliar with leaving reviews on iTunes, we have a quick tutorial you can find in the show notes with step-by-step instructions.  Don’t forget to subscribe after you leave your review, and be sure to tune in to future podcasts, especially October 3rd, to see if you’ve won.

Ben Jones –  A big thanks to Steve Moore for his time, insight, and of course, Matt Smith for producing this mini-series.  Our production team includes Pat Bordak, Gail Gibson, Matt Perry, and the team at Freedom Podcasting.

Ben Jones – Thanks for listening to Better Conversations, Better Outcomes.  This podcast is presented by BMO Global Asset Management.  To learn more about what BMO can do for you, go to bmogam.com/betterconversations.

Matt Smith – We hope you found something of value in today’s episode.  And if you did, we encouraged you to subscribe to the show and leave us a rating and review on iTunes.  Of course the greatest compliment of all is if you tell your friends and co-workers to tune in.  Until next time, I’m Matt Smith.

Ben Jones – And I’m Ben Jones.  From all of us at BMO Global Asset Management, hoping you have a productive and wonderful week.

Disclosures – The views expressed here are those of the participants and not those of BMO Global Asset Management, its affiliates, or subsidiaries.  This is not intended to serve as a complete analysis of every material fact regarding any company, industry, or security.  This presentation may contain forward looking statements.  Investors are cautioned not to place undue reliance on such statements, as actual results could vary.  This presentation is for information purposes only and does not constitute investment advice and is not intended as an endorsement of any specific investment product or service.  Individual investors such consult with an investment professional about their personal situation.  Past performance is not indicative of future results.  BMO Asset Management Corp is the investment advisor to the BMO funds.  BMO Investment Distributors LLC is the distributor.  Member FINRA SIPC.  BMO Asset Management Corp and BMO Investment Distributors are affiliated companies.  Further information can be found at www.bmo.com.

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Notice to Canadian Residents: The information on this podcast series is not intended to be construed as an offer to sell, or a solicitation to buy or sell any products or services of any kind whatsoever including, without limitation, securities or any other financial instruments in Canada.

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