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Ep. 57: The Financial Playbook: Jim Sumpter’s Story of Propelling Growth

Ready to explore the world of finance and advisory through the lens of experts who are steering the industry’s future?

In this episode of The Disruption Blueprint Podcast, Shannon Spotswood sits down with Jim Sumpter, CFP®, and founder and CEO of CMC Financial.

This conversation takes you on a journey from Jim’s early days as an advisor, and his transformative personal experiences, to how he’s navigating and capitalizing on some of the most exciting growth trends defining the financial advisory industry today.

With a focus on integrating advanced tax planning into financial advisory and the analytical research backing it, listen in for an insightful discussion that bridges heartfelt personal narratives with cutting-edge professional strategies.

Jim discusses:

  • The rise of comprehensive tax planning in financial advisory
  • The strategic partnership between financial advisors and CPAs, analyzing the impact on client service and business growth
  • The importance of family and personal experiences in shaping professional services
  • Strategies for multi-generational engagement and client retention in the financial advisory practice
  • How successful integration of tax planning into financial advisory can significantly enhance client value and service diversity
  • Why investing in your education and embracing lifelong learning are key to staying ahead in the rapidly evolving financial advisory landscape
  • How establishing a multi-generational client base not only secures a long-term business model but can also position advisors as pivotal figures in financial legacy planning
  • How going independent helped him be authentic in his advisory practice
  • And more!

Tune in for Jim’s story about empowering his financial advisory practice to meet the evolving needs of today’s and tomorrow’s clients.

Resources:

Connect with Shannon Spotswood:

Connect with Jim Sumpter:

About Our Guest:

Jim Sumpter is the president and CEO of CMC Financial. Jim has more than 20 years of experience helping clients achieve their financial goals. He is a CERTIFIED FINANCIAL PLANNER™ CFP® and holds FINRA Series 7, 65, 63, and 31 licenses in Alabama, Georgia, New York, Pennsylvania, and Vermont. He also holds Life, Health, and Variable Annuity Licenses. He is a member of the Financial Planning Association (FPA), the National Association of Tax Professionals (NATP), and Leadership Shelby County. He is also a StrongHer Money Ambassador.

Jim graduated from The University of Alabama with a Bachelor of Science in Corporate Finance with a concentration in World Business and a minor in Economics. He is currently enrolled in Villanova University’s Charles Widger School of Law, where he is working towards a Master of Taxation with a concentration in Estate Tax Planning. He will complete his degree in the fall of 2023.

He is the President of the Pelham City Schools Foundation, Past President of Leadership Shelby County Alumni Board, Past President of FPA of North Alabama, and Past Campaign Chair for the United Way of Central Alabama.

Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.

Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.

The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.

Embrace Change & Reshape The Future of Finance with Dany Martin and Chase Crump

Get ready to delve into the heart of disruption in the financial advisory landscape with Dany Martin and Chase Crump in this week’s episode of The Disruption Blueprint!

Here, Shannon Spotswood embarks on a captivating journey exploring the transformative shifts occurring within the financial advisory sector. Joined by industry mavericks Dany Martin, MBA, and Chase Crump, CFP®, partners at WFA in Shreveport, Louisiana, this conversation promises a deep dive into how forward-thinking strategies, embracing change, and a focus on client engagement and technologically enhanced experiences reshape the future of financial services.

Dany & Chase’s key takeaways:

  • How WFA’s forward-thinking approach, including geographical expansion and niche market development, led to their record-breaking year
  • The importance of embracing technological advancements to enhance client experiences and reach
  • The significance of deep, authentic client relationships in fostering loyalty and driving business growth
  • Strategies for identifying and successfully engaging niche markets, such as professional athletes, for growth
  • How advisors can get themselves unstuck, whatever the definition of stuck is for them
  • How the industry could evolve in the next 3 to 5 years
  • How investing in branding and marketing can solidify your firm’s presence and attract both new and loyal clients in a competitive landscape
  • And more!

Connect with Shannon Spotswood:

Connect with Dany Martin:

Connect with Chase Crump:

About Our Guests:

Dany Martin, MBA, Partner & Wealth Advisor:

Dany Martin, a South Louisiana native but Shreveport resident, was in search of a service-oriented, innovative, and proactive wealth management organization. He wanted a team that focused on exceeding clients’ needs and upholding the highest standard of service. His mission is to be a student of life and educate others about the profound, positive impact that sound financial planning will have on peoples’ lives and on their families. He also is a huge advocate of positive thinking and leadership.

Dany’s passion for helping others strive for financial health started during his high school years when residual income and the idea of having money work for you crossed his desk. He further pursued his enthusiasm for business and finance during college, where he attended Northwestern State University. During those 4 years in Natchitoches, he achieved a Bachelor of Science degree in Business Administration and was an active member and treasurer of Sigma Nu Fraternity. He continued his education by obtaining a Master’s in Business Administration degree from Louisiana Tech University.

Prior to becoming part of the WFA team in January of 2015, Dany spent 8.5 years at Capital One Bank, where in a very short time he worked his way up from a teller to a Financial Advisor covering 10+ branches in the Shreveport, LA area.

Chase Crump, CFP®, Partner & Financial Guide – NFLPA Registered Financial Advisor:

As a Partner of WFA, LLC and a Financial Strategist with RFG Advisory, Chase’s passion is working to improve the lives of his clients and establishing financial confidence, allowing clients to focus on the aspects of their lives they enjoy most. Chase strives to make the complicated simple by educating his clients so they can feel more confident about the decisions they make regarding their financial health. As a CFP®, he uses his holistic understanding of financial planning and portfolio management to help families, small business owners, and young professionals create customized paths in pursuit of financial freedom.

After graduating from Louisiana College with his Bachelor’s degree in Business, Chase pursued his lifelong dream of playing professional baseball. In 2006, after retiring from baseball, Chase moved to Shreveport to complete his Master’s in Business Administration (MBA) at Louisiana State University – Shreveport. Chase began his career in the financial services industry by working as a financial advisor for Capital One Bank in Shreveport. In April of 2009, Chase joined the team at WFA. Moving to an independently run advisory practice ensured Chase could offer unbiased advice, work with a team of professionals, and invest company resources into continuously improving the firm’s services.

Ep: 56: Transforming The Financial Advisory Industry Through Data-Driven Organic Growth with Tom Rieman and Jordan Hutchison

What does it take to revolutionize the financial advisory landscape?

In this episode, Jordan Hutchison is joined by Tom Rieman, the founder of Practice Intel, to talk about the challenges and rewards of entrepreneurship in the financial advisory industry.

Tom sheds light on the challenges, triumphs, and impact of creating a data-driven platform for organic growth in financial advisory services while sharing his thoughts on the importance of organic growth, leveraging data-driven platforms, and transforming advisor-client relationships.

Episode takeaways are:

  • Tom’s journey from a corporate role to entrepreneurship with Practice Intel
  • The value of focusing on organic growth and client relationship quality in the financial advisory industry
  • The transition from sales-oriented advisory practices to advice-centric approaches
  • Utilizing data-driven platforms and decision sciences to drive advisor performance and client outcomes
  • Overcoming challenges and embracing change as an essential part of growth and transformation in the industry
  • And more!

Resources:

Connect with Tom Rieman:

 Connect with Dr. Jordan A. Hutchison:

Connect with Shannon Spotswood:

About Our Guest:

Tom Rieman is the Founder of Practice Intel, an entrepreneur, and industry expert in strategic business development and advisor coaching.

Ep. 55: Breaking Through Growth Barriers in Wealth Management with Samuel Deane and Dr. Preston Cherry

How can financial advisors unleash their growth potential in the ever-changing landscape of the wealth management industry?

Today on The Disruption Blueprint Podcast, Shannon Spotswood interviews Samuel Deane of Deane Wealth Management, who specializes in serving founders and tech employees with equity compensation and tax planning, and Dr. Preston Cherry of Concurrent Financial Planning, who focuses on Gen X and high-income earners.

They discuss the challenges and opportunities in wealth management, emphasizing personalized financial planning and the role of advisors as life guides. Their conversation also covers generational wealth transfer, niche-focused practices, and effective marketing strategies to attract and connect with clients.

Talking points include:

  • Their recent panel discussion at Tiburon
  • Samuel Dean’s journey of starting and growing Dean Wealth Management
  • Dr. Cherry’s background and the focus of Concurrent Financial Planning
  • Challenges and opportunities for growth in the wealth management industry
  • The importance of personalized financial planning and addressing evolving client needs
  • The future role of financial advisors as comprehensive financial life advisors
  • The impact of generational wealth transfer and the value of aligning life and money
  • Why marketing and branding strategies are so important for niche-focused practices
  • Understanding and addressing the unique needs of different generations in financial planning
  • And more!

Resources:

Connect with Shannon Spotswood:

Connect with Dr. Preston Cherry:

Connect with Samuel Deane:

About our Guests:

Dr. Preston Cherry is a Wealth Advisor and the Founder and CEO of Concurrent Financial Planning. Preston specializes in empowering individuals to share stories that inform their life’s design to achieve financial freedom and well-being. He aims to help you find life and money alignment, giving your money assignment. Dr. Cherry is an award-winning financial advisor, renowned personal finance speaker, founder, podcaster, and professor to next-generation financial planning professionals. Preston has over 15 years of financial services and academic experience, including financial planning and investment management, published research in top journals, often cited and authors in recognized personal finance publications, and extensive leadership in the planning profession. When Preston is not focusing on your journey towards confidently conquering Life Money Balance®, you can find him listening to his vinyl record collection, spending time with his wife, and happily expecting their first child.

Samuel Deane is a financial advisor and President of Deane Wealth Management, a registered investment advisor for founders and tech employees. The wealth management firm specializes in financial planning, investment management, tax planning, and equity compensation. After spending some time working in an industry traditionally reserved for wealthy retirees, Samuel realized that he could provide wealth management and financial planning services more efficiently for his generation. He has worked with clients from well-known companies like Stripe, Coinbase, Airbnb, Spotify, Twilio, Etsy, and more.  Samuel is a coveted speaker and loves spreading his wisdom on entrepreneurship, personal finance, and smart investing to his community.

Ep. 54: The Female Financial Revolution: Rethinking Wealth Management with Dr. Barbara Provost

How can the financial industry better serve women’s unique needs?

In this episode, Shannon Spotswood speaks about women and money with Dr. Barbara Provost, Ed.D., MS Ed, MBM, founder of Purse Strings.

Shannon and Dr. Provost explore the disconnect between financial services and women’s needs while emphasizing the importance of a personalized approach, citing research on the industry’s lack of empathy.

So, listen in as the conversation focuses on reshaping the financial industry to better support and understand female clients.

Main talking points include:

  • Reasons Dr. Provost is dedicated to serving and creating opportunities for women in the financial services industry
  • The disconnect in financial products and services suited for women
  • Why women need a more personalized and empathetic approach in financial and  estate planning
  • Dr. Provost’s experiences and interactions with women navigating financial decisions during significant life events
  • The financial industry’s lack of sympathy towards women and their unpreparedness for their financial future
  • The value of tearing down the traditional financial industry model and replacing it with a more inclusive and empathetic approach
  • Practical steps for advisors to engage with female clients, including enhancing listening skills and creating a safe and uninterrupted space for discussions
  • The impact of caregiving responsibilities on women’s mental and financial well-being
  • And more!

Resources:

Connect with Shannon Spotswood:

Connect with Barbara Provost:

About our Guest:

Dr. Barbara Provost created Purse Strings so all women could live a life free from financial stress and full of choices. As a consultant in the financial industry for over 20+ years, it was apparent that the needs of the female market were not being addressed. When she went through her divorce and navigated it in a women-led divorce group, she heard these intelligent, bright, talented women voice so many financial concerns. And in her everyday life, she could see women of retirement age working at the stores as she’d run her errands.

As a doctor in adult learning and higher education, Dr. Barbara Provost helped bring the power of the female market to other countries like Nigeria, India, Cameroon, and Vietnam.

Ep. 52: The Financial Advisory Succession Crisis with David DeVoe

It looks like the financial services industry is progressing towards a succession crisis. Are advisors ready to handle it?

This week, Shannon Spotswood interviews David DeVoe, the Founder and CEO of DeVoe & Company, about the current state of M&A activity and succession planning in the financial advisory space.

Together, they highlight the succession crisis in the field and the importance of succession planning. David also talks about the challenges and barriers to succession planning, the factors contributing to a firm’s success, and the impact of marketing on the industry.

David discusses:

  • M&A activity and succession planning in the financial advisory arena
  • The current state of M&A activity and its future outlook
  • The potential for a succession crisis in the industry and reasons why succession planning is so important
  • The challenges and barriers of succession planning
  • Ways psychological factors impact succession planning
  • Reasons we need radical change within firms to attract and retain next-generation advisors
  • What factors contribute to the success of a firm, including profitability and risk factors
  • Proactive strategies for driving higher valuations and protecting an organization’s future
  • And more

Resources:

Connect with Shannon Spotswood:

Connect with David DeVoe:

About Our Guest:

David DeVoe founded DeVoe & Company in 2011 to help wealth management companies optimize their business decisions. The company has supported hundreds of firms in consulting, investment banking, and valuation engagements since its launch. David has been a thought leader on RIA practice management for 18 years and was named the ‘RIA M&A Guru’ by Barron’s magazine.

Previously, he served as Managing Director of Strategic Business Development at Charles Schwab Advisor Services. In this role, he developed and led Schwab’s Transition Planning platform, which provides comprehensive M&A and succession planning services to registered investment advisors. During these eight years, he provided strategic counsel to over 500 advisors. Previously, David worked in the Business Strategy group at American Express. David holds a BA degree from the University of California, Berkeley, and an MBA from Cornell University Johnson Graduate School of Management.

Ep. 51: Stepping Out of Your Comfort Zone and Inspiring Others with Nicole Middendorf

How can financial advisors take themselves and their practices a step further to unleash their growth potential?

In this episode, Shannon Spotswood hosts Nicole Middendorf, the CEO of Prosperwell Financial, to talk about the power of stepping out of your comfort zone and the value of authenticity in financial advising.

Nicole shares her personal journey, including her experience of going viral on LinkedIn and creating her ‘Live It List.’ Listen in as Nicole uncovers the importance of promoting women in the financial services industry and the need for advisors to be more inclusive and attentive to female clients.

Nicole discusses:

  • Her journey of creating and rebranding her ‘Live It List’
  • The value of stepping out of our comfort zone and embracing discomfort for personal growth
  • The scarcity versus abundance mindset and the power of gratitude
  • How marketing and building a LinkedIn following can benefit financial advisors
  • Why authenticity and personalization are crucial in financial advising
  • What advisors can do about the disconnect between women and the financial industry
  • And more!

Resources:

Connect with Shannon Spotswood:

Connect with Nicole Middendorf:

About Our Guest:

Nicole Middendorf is a Wealth Advisor, CEO of Prosperwell Financial, Author, Speaker, and Media Guest. Nicole is a knowledge junkie, mentor, and a born coach. She is an entrepreneur who has run her own business since 2003. Nicole is the author of five books and the mother of two phenomenal children. She is also a world traveler, a philanthropist, and an accomplished public speaker.

As a speaker, Nicole shares a real-life perspective on life and happiness with audiences across the country. Her primary goal is to inspire others to make real changes in their lives by taking complicated things, making them easy to understand, and giving actionable items to make change.

Nicole loves to work hard to empower individuals to make crucial, positive changes in their own lives. Nicole’s books have received local and national press coverage. She has become known for her thoughtful concise quotes, relaxed on-air presence, and articulate delivery during radio and television interviews.

The world needs more people—especially women—to be financially savvy, wholly independent, happy, and living a life of balance. Through Nicole’s writing, public speaking, coaching program, and work, she wants to be the one who supports them on all levels.

Ep. 50: Driving Trust, Growth, and Innovation in Wealth Management with Eric Clarke

In every walk with nature, one receives far more than he seeks. – John Muir

Could this saying be true with businesses as well, that oftentimes we receive a lot more than we seek?

Join Shannon Spotswood from RFG Advisory as she and Eric Clarke, the visionary Founder and CEO of Orion, discuss the rapidly evolving landscape of wealth management and the partnership between Orion Advisor Solutions and RFG Advisory. Listen in as the conversation contrasts traditional Wall Street methods with innovative financial strategies.

Throughout the discussion, Shannon and Eric explore:

  • How Eric’s leadership style evolved over the years
  • Three key takeaways for leaders who are looking to scale
  • The importance of being willing to disrupt the status quo and traditional ways of thinking in a technology business
  • What hurdles come with scaling a business
  • The concerns and benefits of bringing in a capital partner
  • Why KPIs are essential for businesses today
  • How real success is built on genuine relationships
  • Why every client interaction matters and where behavioral finance changes the game
  • And much more!

Resources:

Connect with Eric Clarke:

Connect with Shannon Spotswood:

About our guest:

Eric Clarke is the founding CEO of Orion Advisor Tech, launching the firm in 1999 to provide portfolio accounting software to help independent financial advisors scale their businesses. Eric retired as Orion’s CEO in 2023 and continues to serve as an active member of Orion’s Board of Directors.

As a visionary leader and prominent voice in the financial advice industry, Eric is at the forefront of advancing and transforming the RIA and wealthtech industries. Eric has received numerous industry awards including WealthManagement’s CEO of the Year for 2022, ThinkAdvisor’s IA25 multiple times, received a Luminaries award in 2022 and an InvestmentNews’ Icon & Innovators Award in 2019, and lead the Orion team to four wealthmanagement.com Wealthies Awards in 2023.

In addition to serving on Orion’s board, since 2020 Eric has also served as a board trustee for the Foundation for Financial Planning, a 501(c)(3) nonprofit organization dedicated to expanding access to pro bono financial planning for people in crisis or need. Eric earned his Bachelor of Science in Accounting and Information Systems from Brigham Young University and Master of Business Administration from their rival at the University of Utah.

Ep. 49: Why Your Zoom Calls Matter with Liz Dykes

https://youtu.be/Jzn9ib6c90I

How do we maintain a personal touch in an increasingly digital age?

Elevate your understanding as Dr. Jordan Hutchison is joined by Liz Dykes, Chartered Investment Manager and Certified in Life and Success Coaching.  

Together, they plunge into the essence of understanding clients, challenging preconceived notions, and establishing strong rapport, especially in the financial advisory space.

In this conversation, you’ll discover:

  • Why face-to-face meetings, even online, matter
  • How to harness the power of meeting people where they’re emotionally at
  • Why behavioral finance is more relevant today than ever
  • What ‘success’ really means to you
  • How sharing personal stories and being vulnerable can build trust
  • And more!

Resources:

Connect with Liz Dykes:

Connect with Jordan Hutchison:

About our Guest:

Liz Dykes is a strategist and coach, pulling insights from her background in market research, financial services, and coaching. Known for her nuanced approach to helping people find clarity amid life’s complexities, Liz focuses on actionable wisdom for both personal and professional growth.

Why do people connect with Liz? It’s her ability to offer grounded advice that helps you bend, not break, in a world of constant change. Liz provides a different perspective—one that broadens your view and empowers you to make informed decisions. And in a world buzzing about artificial intelligence, Liz offers simple, effective ways it can free up time for the things and people that matter most to you.

If you’re looking to shift from being a passenger to becoming an active participant in your life’s journey, Liz is the guide you’ve been seeking.

Ep. 48: Endurance Entrepreneurs: The Thin Line Between Complacency & Burnout with Michael Futterman

Some advisors become too comfortable with their current situation and stop striving for more, usually due to a fear of disrupting what’s already working. Others are always in the “go, go, go” mindset, ultimately burning themselves out!

How can you strike a balance between complacency and burnout?

In this episode, Shannon Spotswood speaks with Michael Futterman, executive coach, motivational speaker, and EQ enthusiast. Together, they explore the path to “endurance entrepreneurship” where advisors can maintain a healthy and sustainable level of motivation, engagement, and productivity in their lives, personally and professionally.

Shannon discusses:

  • Healthy habits that advisors can adopt to thrive in the fast-paced financial industry
  • Every reason to shift from a scarcity to an abundance mindset
  • The need for self-care and recovery
  • How to embrace growth in the form of “Type Two Fun”
  • And more

Resources:

Connect with Michael Futterman:

Connect with Shannon Spotswood:

About Michael Futterman:

As a speaker and coach to business executives with over 20 years of experience working in the management consulting and financial services sectors, Michael Futterman’s focus has been on team effectiveness, client retention, business growth, brain health, maximizing performance, and positive work culture​. Michael helps his clients identify and overcome human capital and strategic challenges through providing practice management, executive leadership, personal wellness, and business development coaching and consulting.