WA MAGAZINE JanFeb PDF A - Flipbook - Page 18
WEALTH ADVISOR TV
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asked us the toughest question that
any advisor ever has to ask, which is,
“Oops, my best client just died, and the
kids are going to take the assets. Can
you help me?”
And it said, “No.” It gave the right
answer. I cannot help you because your
client is dead. Here’s how to stop this
from happening to yourself ever again.
And that is priceless. Then it went and
gave you the plan for your clients who
are still alive and can be helped: every
single client, with a suggested discussion guide with our new clients. And it
did it. How long did it take? Probably
no more than 45 seconds.
We even slowed it down for the visuals.
Otherwise, it goes too fast for the human eye to read. What else does it do?
Right? Tax management, okay, big problem. Tax laws are changing. We found
that we can create the model that will
allow an advisor to plug in the tax situation. It will remember it, and it sticks
with you. So, if you started on Monday
and you want to finish it on Thursday,
you’d log back in and it remembers everything that you did on Monday. That’s
fantastic.You don’t have to go ahead and
reeducate the system.
But tax management for a client,
man, it knows every tax law down to
the minute. It is all fed in. Obviously, the
system is not an accountant and cannot
provide specific tax advice. It isn’t a
lawyer or a doctor or an advisor for
that matter, but you don’t have to spend
hours reading textbooks. It’s there for
you, and therefore you can apply those
details to your use case—meaning a
client that’s high net worth has this and
this, so you want to do that—and Claude
will give you the solution.
Of course you need to have your own
head screwed on right to train the
model to make relevant suggestions.
Garbage in, garbage out. That’s where
our ongoing advisor education campaigns are crucial.
This year has been a lot more fun than
18 | JAN/FEB 2025
Claude actually
meets every
advisor where
they are, and
it knows real
answers, actionable answers.
The advisor’s job is to give a better
experience than DIY.
Absolutely! And throughout all the
conversations, that’s where Wealth
Advisor TV comes in. We met a lot of
people and collected tons of footage at
Future Proof at Huntington Beach last
year. By the time people read this, we’ll
be ramping up for the sequel in Miami. I
love them because it’s such an unconventional information delivery system.
It’s the beach. Everyone’s in resort wear,
so it’s a working vacation for people
who are never really on vacation. Beyond that, there are more shows, more
conversations, more interviews.
usual because we did finally crack the
ETF space. We stayed away from it for
so long because we found it crowded to the point of getting boring. Too
much “conversation” but not enough
actionable information, so we stripped
all that back to the essentials: what
problems a fund solves, how advisors
deploy it, what it replaces in an existing portfolio. Suddenly, it’s exciting
again, and we know for a fact we’re
already getting advisors excited again
about the due diligence.
We had a tremendous time bringing in new partners. We brought in
State Street Global Advisors. I’m sure
you’ve heard of them. And we brought
in PIMCO. We brought in some great
underdogs and smaller players. One
of my pet peeves is how top-down so
much ETF coverage is. We all used to
be at ground level in terms of asset
gathering. That’s where the real innovation happens, right?
And then innovation spreads. State
Street is dipping its toe in crypto.
The giants follow the flows wherever they are. The industry as a
whole gets better as the engineers bolt on enhancements to products
your clients
already understand and
can deploy on
their own.
Of course, I can talk to people at home
also. We’re always happy to schedule
a conversation and, again, modern
technology helps that happen.
That’s what life is all about. We talk
to people across the industry, share
stories and best ideas. It isn’t gossip.
It’s all productive. Every conversation
leads to the next conversation, and we
all move day by day into the future. It’s
like a trade show that never ends.
Our biggest claim to fame is
TAMPS.com. If you’re reading this,
you can reach me at jerry@tamps.com.
You’re scott@tamps.com, obviously. We
actually check those email accounts
and interact with people. If you’re
looking for a place in the schedule or
just someone to talk to, that’s how to
do it.
