Feeling Stuck? A Personal Story of Overcoming Challenges
Beck Bode Blog
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2w ago
Let me begin by saying that I consider myself an optimistic person. This doesn’t mean my life has been easy; I have had my share of challenges. But overall, I believe I have a positive outlook on life.  ..read more
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3 Myths About Investment Risk Tolerance and Performance
Beck Bode Blog
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1M ago
Too often, in the financial world, there's a misguided obsession with beating benchmarks like the S&P 500 within arbitrary time frames, such as the calendar year. Remember the legendary fund manager Bill Miller and his Legg Mason Value Trust fund's remarkable streak? He outperformed the S&P 500 for 15 consecutive years. Impressive, right? But here's a reality check: it was more about the quirks of the calendar than a consistent, year-round performance ..read more
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Lessons From the Cockpit: The Importance of a Financial Planning Checklist
Beck Bode Blog
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1M ago
In a recent advisor team meeting at Beck Bode, I drew a parallel between financial planning and my experience with pre-flight checklists for helicopters. I am a student helicopter pilot, and my dad was a decorated pilot who served in Vietnam, a story I have shared in several blogs here ..read more
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Beyond Revenue: 8 Determinants of Valuation for a Financial Advisory Business
Beck Bode Blog
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2M ago
If you’re thinking you’d like to sell your practice at some point, you’ll want to know what it’s worth. As a prospective seller, it makes sense to get a valuation from a  third-party professional valuation firm, and to update it periodically. A big chunk of a third-party valuation is based on revenue. Let’s be clear here, revenue is an essential component of the valuation, but there is more to the story than revenue ..read more
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The Ideal Clients for Financial Advisors: Learnings From Working With CrossFit Athletes
Beck Bode Blog
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3M ago
At Beck Bode, we see fitness and finance as going hand in hand. You want to be financially prepared for a long life, but that requires you to be physically, emotionally, and mentally prepared for a long life, too. Which means tending to health and wellbeing in all aspects of our lives ..read more
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Financial Advisor Meeting Checklist: 4 Ways To Build Trust With Your Clients
Beck Bode Blog
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3M ago
Every financial advisor - in fact, anyone who provides advice to others - needs to do a certain amount of preparation before a client meeting. Once you master the basics, most of that preparation becomes mental preparation. The question is: are you really ready to meet with this person? Let’s see ..read more
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8 Centers of Influence Tips for Financial Advisors
Beck Bode Blog
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3M ago
What do you do when you’re not getting enough referrals from your Centers of Influence (COI)? Or maybe you are getting referrals, but they’re not of the quality you need. In the realm of business, relationships are the cornerstone of success. Whether you're an entrepreneur, a financial advisor, or a professional in any field, the ability to foster strong connections with centers of influence (COIs) can make a significant difference in your growth trajectory. However, cultivating these relationships requires intention, effort, and a strategic approach ..read more
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Goal-Based Investing: The Foundation for Advisor-Client Relationships
Beck Bode Blog
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4M ago
What I want to talk about today is what we call the GPS here at Beck Bode. GPS stands for Goals Planning Statement, and it’s our objective to make it the foundation for the relationship we build with all our clients. I may need to remind you: we got our start in the business on the wealth management side; using financial planning as a basis for our work was the evolution of our work, it was not how we started doing things initially ..read more
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The True Value of a Good Financial Advisor
Beck Bode Blog
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4M ago
Humans are emotional creatures. When it comes to investing, because of our emotionality, we run a big risk of being our own worst enemies. Intellectually, of course, we are perfectly capable of rationalizing, saying things like, “Oh, I understand the markets go up and down. I know that in the long-term I need to stay put…I’m “good,” I don't want to do anything rash with my money ..read more
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Key Elements of Succession Planning: Preparing Your Clients
Beck Bode Blog
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5M ago
Most financial advisors know that they need to have a succession plan in place – whether they follow through on it or not or leave it until it’s too late, that’s beside the point. But many financial advisors, even those who have a plan, aren’t clear about how important it is to prepare their clients for a successful transition. Having your plan figured out is the first step. You also need to make sure that your clients are on your side and supportive of your next move ..read more
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