Dr. Jay Zigmont, Founder and CEO of Childfree Wealth joins Mike Langford for a fascination conversation about the intricacies of providing comprehensive financial advice to childfree clients. They discuss the significant population of adults who do not have children and the unique needs that are not being met by traditional financial planning methods. They also explore the reasons why people choose to be childfree and the challenges faced by financial advisors in serving this niche. The conversation covers topics such as dying with zero, long-term care planning, estate planning, retirement, and the importance of understanding the goals and desires of childfree clients.

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Resources Mentioned In This Episode:

• Jay Zigmont's Book - "The Childfree Guide to LIfe and Money"
• The Fixed-Index Annuity with a Health-Activated Income Multiplier - This the annuity Jay mentioned during the show.
• Long Term Care for Childfree Individuals - An article Jay wrote on the topic.
• Fidelity Investments (FCAT) study on soloists - "A Family of One: The Ascendance of Solo Households"
• Jay's guest article on Michael Kitces' blog - "Why Childfree People Require A Unique Financial Planning Process"
• Rajini Kodialam - Mike mentioned how Rajini urged financial advisors to stop calling women a segment. "Any group that makes up over half of the population cannot be a segment."

Chapters

00:00 Introduction to Child-Free Financial Advice

03:45 The Size and Significance of the Child-Free Population

08:07 Understanding the Choice to Be Child-Free

13:25 Dying with Zero: A Different Approach to Financial Planning

15:23 The Life of Child Wealth: Redefining Retirement

27:43 Addressing the Unique Needs of Child-Free Individuals

36:44 Creating Communities and Support Networks

46:25 Challenges and Biases Faced by Child-Free Individuals

53:48 Opportunities for Financial Advisors in the Child-Free Market

Gauthier Vincent (GV), Senior Consulting Partner at Deloitte joins Mike Langford for an exploration of the digital transformation taking place in the wealth management industry. The conversation explores the impact of AI on wealth management, covering topics such as personalizing client experiences, efficiency, data infrastructure, compliance, and the modernization of core wealth platforms. It also delves into the challenges and considerations for wealth management firms in adopting AI and modernizing their tech stack.

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Resources Mentioned In This Episode:

• Deloitte Report - "The Digital Wealth Manager Of Today"
• SkyView 1 - A fiduciary first banking solution for your financial advisory clients.
• Nitrogen (formerly Riskalyze) - The comprehensive client engagement platform for wealth management firms

Chapters

00:00 The Digital Transformation in Wealth Management

11:49 The Urgency for Modernization and Impact of AI

27:17 The Impact of AI on Wealth Management

41:24 Challenges and Considerations in Adopting AI for Wealth Management Firms

49:52 Modernizing the Tech Stack in Wealth Management

Brian Margolis from Productivity Giant joins Mike Langford to discuss the importance of a simple weekly strategy for financial advisors to improve their productivity and achieve their goals. Brian emphasizes the need to focus on the right things and prioritize activities that provide the biggest return on investment.

Resources Mentioned In This Episode:

• Brian's previous episode of the Modern Financial Advisor Podcast way back in 2019.
• Brian's Book - "The Index Card Business Plan For Sales Pros and Entrepreneurs"

Chapters

00:00 Introduction and Background

04:24 The Importance of a Simple Weekly Strategy

09:07 Focusing on the Right Things for Maximum ROI

28:57 Common Pain Points and Symptoms

31:20 Differentiating Between Being Good and Being Successful

39:05 Success Stories and Implementing the Simple Weekly Strategy

45:10 Conclusion