The California Fires have been brutal.  This month's Podcast review will look at what we can do with the helpful information we receive from Podcasts.  Will we listen and implement the ideas in our business or will we disregard the advice and keep doing business as usual?  My recommendations are broken into two categories.  Hopefully we will take the podcast host's advice and evacuate our old business models.

My favorite new free podcast is Creative Processing with the actor Joseph Gordon-Levitt.  His questions could be applied to either Acting or Wealth Management.  I learn something new from the guests and the host that help me every week.


If I seem to be talking out of both sides of my mouth - I am!  Recently I decided to pay for the  Luminary podcast portal so I could listen to Making a Killing with Bethany McLean.  I LOVE the way Bethany thinks which makes me willing to pay to listen to her thoughts.  When my payment cleared I was surprised to find other great…

Life is Difficult

I was diagnosed with MS one and a half years ago.  The shocking news took a while to sink in, but the M Scott Peck quote has continued to reverberate in my head – “Life is Difficult”.  Our blog this week hopefully educates you on MS and the support that the million plus patents in the US need.  This is NOT a pity party, but it will share many items that I think we can use in our Wealth Management business as well.
Snowflake Disease
When my Dr. told me I had MS my initial reaction surprised her.  I shared that I regretted never contributing to The Jerry Lewis Labor Day Telethon.  She smiled and said that telethon is for Multiple Dystrophy not Multiple Sclerosis. I needed to do some research on MS.  I was frustrated and scared by what I found on the internet.  It seemed like everyone who had MS experienced different symptoms.  Some were in a wheelchair, but some appeared to be fine.  The internet search (SEO) put the negative symptoms at the top of our search.  My wife and family were c…

The Conch

Last week’s financial services industry news of Schwab and other brokerage firms cutting commission rates to zero reminded me of one of the two books I read in High School (no Cliff Notes).  The book, Lord of the Flies, described how a group of marooned kids organized themselves.  They utilized a shell, The Conch, to signify who could talk at their large gatherings.  The meetings were organized by Ralph who would limit the time each kid took.  This week I will discuss who has The Conch and what they are telling us to do.  I will play the role of Ralph and decide when its time to pass The Conch.
Wall Street
Wall Street has had the conch for years.  They created high margin products and “sold” them to their clients.  This structure was exposed during the Financial Crisis and opened the door for competitors to educate their clients about these conflicts of interest.  The other area Wall Street made money was supporting Hedge Funds through their Prime Brokerage unit.  This group provided …

Perfect Podcasts

Perfect conversations and Podcasts are in the eye of the beholder.  My podcasts and my children are perfect in my humble opinion.  I continue to simplify this monthly summary to organize the list and hopefully you will agree with me.  Apple has a head start with their star based rating system. Twitter followers and downloads matter too.  This month has some new items I hope you like too.

Business Podcasts
My new favorite is Naval - How to get Rich.  I've found that this podcast delivers ideas that will cause you to think and falls into my perfect podcast group.  My advice is to listen to each podcast numerous times.  Our first impression might be wrong.


We all need a break from our daily life and from academic content.  I love movies and live theater as an escape from daily life.  Drama podcasts with a good script and good actors are perfect.  My favorite is 1619.  This podcast is a double whammy.  It is moving and it educates us on the history of slavery. 

There are no perf…


Mr. Pickens, Boone to his friends, passed away on September 11, 2019.  This blog will summarize the numerous lessons that Boone lived and shared with us during his amazing life.  We hope you will reference and adopt them in your personal and professional lives.  Boone shared most of these beliefs with his co-workers, friends, investors and the traditional media.  Many of his beliefs are common to successful people, however, his generous heart is unique.
Great at Making Money
Boone was great at and enjoyed making money.  It was a challenge that he mastered first as a Wildcatter in the oil business. He understood that every deal wouldn’t work out as planed and he was able to evaluate where he could improve his results on subsequent deals.  He was self-aware.  Boone took his experience to his next ordeal in the public markets with Mesa and as a corporate raider.  Same risk reward profile but the results and prices were public. The mindset and discipline were the same.  Boone’s next ventu…

Pick on Someone Your Own Size

The financial press has been filled with articles about RIA transactions.  I’m happy for the industry but I think we need evaluate how we got here.  My blog this week will examine why RIAs are growing and selling at an unprecedented pace,  One of my RIA friends observed that we got here by positioning ourselves versus the ills of Wall Street.  I’m not as PC as my friend so I will take a hard look at how RIAs need to pick on somebody there own size.  RIAs have a stellar reputation of always doing the right thing for there clients.  We don’t need to be a bully to grow and ultimately sell our practice.  Here are some ways we are picking on our competition.

Wall Street
Clients and their advisors know that Wall Street has many conflicts of interest.  Selling against that fact seems to have run its course.  The breakaway advisors I follow after they realize that a fiduciary standard does NOT pay well start to adopt Wall Street conflicts to narrow the pay gap.  My April 2016 article is worth  …

No Free Lunch

As we have discussed in the past monthly summaries the number of Podcasts is exploding.  That is the good news but the bad news as discussed in the Wall Street Journal is that the free model with limited advertising is not working.  Specifically podcast listeners are not buying enough products from the sponsors of the shows to pay the bills.  Several popular podcast are signing up name brand (read wealthy) companies to sponsor the podcast and pay the bills.  This reality coupled with the fact that most podcasts hit the wall at 12 episodes has caused us to tweek our monthly categories to include monetary support and frequency.  This “pivot" should improve our summery. Please share your opinions through the comment field.  

HBS has the dough and they are releasing numerous podcasts that I have found very helpful.  My current favorite is Cold Call.  I know we hate that term but the podcast covers case studies from HBS and the presenters are actual HBS professors.  I might have …