Buses, Beginnings, and the Brains of Michael Book

00:00:00: Welcome to Office Hours, I'm Kulit Mudan and this is where i sit down with the smartest most interesting people.

00:00:05: Today's guest is Michael Book.

00:00:07: Michael was a founding partner of Linux Advisors for more than thirty five years in the industry earlier this year.

00:00:13: Michael has inducted into the Fonseca Hall of Fame for leadership and mentorship And I can confidently say that This Is The Man I Want To Be When I Grow Up.

00:00:21: But before I get into it here's brief compliance statement.

00:00:25: All opinions expressed by the program participants are solely their own opinions and do not reflect the opinions of their respective parent companies, affiliates or the companies with which they're affiliated.

00:00:34: Investments for strategies mentioned in this program may be suitable to you but should make your independent decisions regarding them.

00:00:39: This material does NOT take into account your particular investment objectives financial situations or needs And is not intended as recommendations appropriate.

00:00:47: You should strongly consider seeking advice from your own investment advisor.

00:01:03: Welcome to Office

00:01:04: Hours.

00:01:04: Thank-you for having me!

00:01:05: Happy To Be Here.

00:01:07: I understand you just became a grandparent yesterday.

00:01:09: How does it feel?

00:01:11: Uh, probably about thirteen hours- uh twenty three hours in... twenty four hours so far.

00:01:15: It's amazing!

00:01:16: Got to hold him last night for the first time and its very special And looking forward.

00:01:22: going back into few hours later tonight

00:01:24: I'm excited for you and the family.

00:01:26: How is April taking being a grandmother?

00:01:28: I don't think she's old enough, but...

00:01:30: She has over-the-moon—she's very young looking grandmother!

00:01:34: And um… she's been ready for awhile —I wasn't–but now we're both super, super excited.

00:01:38: She's been knitting her little hat with a little baby Jacob all afternoon as we wait to go see him later today.

00:01:44: That's amazing.

00:01:45: I am excited for your guys as a family.

00:01:48: You know, they start off really tiny and they seem to be running around.

00:01:52: And mine today learned how to climb onto the couch.

00:01:55: so now we've got a whole fall thing that We have to figure out had a baby proof all of this.

00:01:59: So like Brian knowing eight months from now This is the new risk as your couch becomes a danger zone

00:02:04: much easier when there's sitting still.

00:02:05: once They move you have a lot more work.

00:02:07: yeah, I don't stop moving which i think you Know but uh?

00:02:11: I want to take us all way back.

00:02:12: do you remember How we met where I met you?

00:02:15: I do remember exact where we met, and I bet there's not very many people except for the four of us that know that.

00:02:21: Do you want to tell a story?

00:02:22: Let me tell this story.

00:02:22: Go for it!

00:02:23: So Coltipa and Manuel were in Dubai as we're April nine And one day we went on an I guess a Jeep tour in the desert... ...and all of a sudden our jeep stops.

00:02:35: What's wrong with those?

00:02:36: The Jeep infront is stuck into sand And we have to help them and were waiting, and waiting.

00:02:42: We tried a pull-up map but couldn't get him out... ...and sure enough who's in the Jeep infront of us?

00:02:47: But Manuela and Coltie they got it out.. ..and we're laughing and joking!

00:02:51: That was only like second day on our trip.

00:02:54: Then later I met them for a drink at my room here & there.

00:02:57: We realized how wonderful they

00:02:59: are!!

00:02:59: And then that was the beginning.... I think it was two thousand nineteen

00:03:03: maybe??

00:03:03: I think

00:03:03: It Was Nineteen.

00:03:05: I think you don't remember, because the day before that we were all writing camels.

00:03:10: And i was taking selfies with Manuela of us on camels and some guy just kept on photobombing it.

00:03:17: So it's like guys.

00:03:18: anybody know who this guy is?

00:03:19: But still have this photo.

00:03:20: if you photobombed us...I think he was seven consecutive times!

00:03:24: That next day RGP got stuck.

00:03:27: We met at a bar.

00:03:29: You said Michael book how did look in your selfies.

00:03:33: So I have a whole bunch of photos there, though.

00:03:36: But that was a great trip and it was probably one my first big experience recognition experiences And i got to know a little bit about really what i would describe as like the lore Of michael block right?

00:03:46: I think inside of The Lennox world people Know A lot About you but outside of It People Really Just Know Of You.

00:03:53: They Know Some Of The Stories That Things they Hear About You And Have Been In A Very Unique Position Where I've Gotten To Spend A Lot Of Time Around You With You.

00:04:00: I think the US Open has been a special thing where i get to see you every year and we get spend whole bunch of hours.

00:04:06: So what im hoping today is going on little journey, talk about some origin story how things got started in the Lennox world.

00:04:12: What comes next?

00:04:13: The lessons or wisdom Even those lessons shared with me along way?

00:04:18: Any objections?

00:04:19: No not at all.

00:04:20: fire away Alright.

00:04:21: so kick us off.

00:04:22: Tell my early years were did grow up.

00:04:24: tell your parents tell family.

00:04:26: I grew up in Long Island until I was about twelve.

00:04:31: I have two sisters, an older sister and a younger sister.

00:04:34: we were all very close you know?

00:04:36: We didn't have a lot of money but we're very close in family.

00:04:40: took a lotta family trips always on the car going somewhere.

00:04:43: fond memories with my child that are always playing sports.

00:04:46: It was like, people in my generation used to come up from school.

00:04:49: You put on your nasty shorts or pants and you went out until it got dark and we just played sports all day.

00:04:56: Moved to New Jersey for middle school because my dad's company was near the Meadowlands of New Jersey And he was going back and forth in LA.

00:05:05: that was too much.

00:05:06: eventually moved into New Jersey.

00:05:07: Now a good part about that is for the sports fans The New York Football Sports Fans Out There.

00:05:12: I was a huge Jets fan, Joe Namath fan growing up.

00:05:15: We moved to New Jersey right when the Giants move to New jersey in their metal lands and I went into Giants games all of time but never saw The Jets again.

00:05:22: And i became A Giants Fan.

00:05:24: So instead Of laboring and being a poor jet fan for last fifty years I Was able To win four soup bowls with The Giants.

00:05:30: Yeah so then the new jersey through high school Always played sports.

00:05:34: They Played Soccer Basketball Baseball all year round.

00:05:39: And then I graduated, went to the University of Delaware played soccer there for a couple years and it was too much...too much of my time met my wife there April double Dell's.

00:05:51: we call them in college.

00:05:53: you know each other over forty years which is crazy.

00:05:57: And so I graduate, and we're not talking about my work career.

00:06:03: We are talking on my college career—I would say that didn't apply myself in the academic part but applied to having the most fun possible.

00:06:12: So when I graduated there wouldn't be any surprise or a lot of people who were dying to interview me for their job.

00:06:25: And it was fun working with my dad, I love my Dad.

00:06:30: My Dad was obsessed with sports too and we would talk about work in sports.

00:06:34: It's great being with him for three-and-a-half years but probably two years then I realized that I'm ready to own the company... ...I was twenty-two or twenty-three and they weren't ready for me!

00:06:45: So i started thinking what else could possibly do?

00:06:49: And I feel like the only skills that I had outside of really Ping Pong was probably selling and speaking, connecting with people.

00:06:58: So I'm trying to think about sales and how I got to.

00:07:02: Mass Mutual in this career is my cousin David Shulman who's a general agent for Mass Mutua in Florida, in Fort Lauderdale.

00:07:10: He's one of the most successful people I know.

00:07:13: he has always gone on great vacation driving nice car and started looking into it.

00:07:18: And I talked to him and he said at the time, April night just got married.

00:07:23: We've gotten married and quit my job.

00:07:27: And David said i don't know what it's like to commute into New York City every day.

00:07:31: but if you want be a player in life insurance business go interview with this firm account financial group As we all know in our business that as long as you don't have a criminal record and it seems semi-normal, they hire you.

00:07:45: So I got off of the job And i started basically at the beginning of nineteen ninety one.

00:07:48: That's how I got into the business.

00:07:50: Tell me about Howard Cowan The early era?

00:07:53: That agency

00:07:54: so Any group that was with me let's call it from their early nineties until the early two thousands.

00:08:02: Howard Was exactly his build.

00:08:05: tough on the outside.

00:08:08: He disciplined us, he made us scared if we didn't do what it was supposed to.

00:08:15: He taught us good habits, he taught us how to work hard and would make us come in every Saturday morning from nine-to-twelve for study group type of thing.

00:08:25: but you know he instilled an us a work ethic, he instill with us.

00:08:30: spend money on your business um...he taught not just the work hard by play hard too And we had fun, he would enjoy.

00:08:38: We had a softball team and he would come to the games and take all fifteen of us out for dinner after... He'd invite us out to his house and show off what he had.

00:08:48: but more to inspire.

00:08:49: us want good things in life.

00:08:51: He used say you wanna meet wealthy people or clients?

00:08:54: Go into nice places!

00:08:56: All these things that he taught us.

00:08:59: I've said this many times as i speak around the country.

00:09:02: You learn something from everybody And I would say he had a huge influence on so many of us in our early careers, what it took to be successful.

00:09:12: As a transition we'll talk about later into being the general agent and leader at an agency...I also learned some things that i wouldn't emulate but you learn!

00:09:35: When did you, I guess kind of spin off and start doing your own thing within the agency?

00:09:40: So it started like i said in uh...the very beginning of ninety one.

00:09:45: Um..so give a little bit history.

00:09:46: so that year we had another victory campaign.

00:09:50: We have a Mass Mitchell's Quota Buster contest qualified And on that trip really became friends with Greg Large Another young guy at office Within a years when he came back.

00:10:05: let's hire somebody and we'll share the person.

00:10:08: And Greg and I shared that person, then that person's sister joined like a year later who by the way...I talked to her about an hour ago.

00:10:15: she still works with us

00:10:16: thirty-three years later.

00:10:19: She is amazing.

00:10:20: btw In nineteen ninety, I'm blanking now things are ninety five or ninety six.

00:10:26: Mass Mutual Bites Connecticut Mutual had disability product which has discount Twenty-five percent discount.

00:10:36: Greg was our disability specialist at the time, probably twenty six years old.

00:10:39: He said you have good clients.

00:10:41: We need to get your good client on Wall Street.

00:10:43: Let's go get one of these companies.

00:10:45: and that is when we started building this multi lives And thats kind a beginning Of it.

00:10:50: but It took probably another three Probably not till two thousand were really spun off by our own company.

00:10:57: You guys got known for the whole multi-life thing, but I think before we get to multi life how on earth are you getting these clients?

00:11:02: Young advisor in the business.

00:11:03: It's very hard.

00:11:04: Yeah Yep it was.

00:11:05: and So a couple of interesting things happened.

00:11:09: one is my wife who worked at Prudential at that time In their investment area would help me Get names at prudential like I had a lot of clients from Prudental

00:11:18: so she was The prospector everybody

00:11:20: i knew benefiting them.

00:11:22: they were either gonna become A client or helped Me prospecting get Names And I got my hands on the Harvard Business School Alumni Directory for Greater New York, and I called a hell out of that thing.

00:11:36: Where'd

00:11:36: you get this thing?

00:11:38: Let's say I borrowed it from somebody thirty-four years ago—and I haven't quite found them to give him back yet!

00:11:46: There is a funny story there but don't think i'm telling.

00:11:48: So I literally, it would go by year and we'd go buy where they work.

00:11:53: And I figured out a system how to call the company and then based on what year that graduate or drop other names?

00:12:01: Then once got a client or two are dropped those things in here at other companies because you know from school an hour just play back-and-forth.

00:12:08: and i got allot of clients at accompany huge investment bank Goldman Sachs where at one point I was probably there three or four days a week, five six seven meetings per day.

00:12:19: To the people who were the receptors that would buy them Christmas presents because they saw it so frequently and you know what we think is a lot of money today?

00:12:28: They weren't making much but maybe ten years older than me And i just had an act for connecting with other people being advised of them and help them, not push products.

00:12:45: And I think...I used to remember some words.

00:12:48: they say is look you're very busy your building career You don't have the time energy resource focus on yourself.

00:12:53: but i can do that for you.

00:12:55: But if you're a decade younger than them, and they are I like to call it high finance.

00:12:59: And we were low financing on how do you get them?

00:13:01: take you serious?

00:13:02: So We started a lot this from Greg.

00:13:04: And I start similar where we both led with disability because everybody was being unbecoming advisor talking about life insurance Nobody's talking about disability insurance and we would say there's pitfalls in your program.

00:13:15: Love to come by but helping other clients Other of your colleagues their that really don't understand what happens at the out disabled or if they left And in a few minutes, I can graphically sketch out what that means.

00:13:25: You get him and you start to talk and they'd realize hey seems like the good enough

00:13:29: guy.".

00:13:30: Then I work more into fact-finding.

00:13:32: go from disability until next thing.

00:13:34: we did that... Sometimes going back role play with younger advisor office say things haven't said for thirty years but it's right there because he says thousands of times And it's all about getting people to believe that you're there for their benefit, being a trusted advisor.

00:13:52: Well, I am a candidate for my Chartered Life Underrider designation which makes me a bit of an expert in life insurance.

00:14:16: He said when you finish your designation call me.

00:14:19: that's what he said...I was twenty-seven

00:14:23: okay

00:14:24: and uh i remember.

00:14:26: the next morning i got up..i found out how you actually matriculate from the american college a CHFC in eleven months because I didn't ever want to be that position.

00:14:38: again.

00:14:38: where somebody asked me why qualifications were.

00:14:40: Certainly my degree from Delaware wasn't going help at the point.

00:14:45: So when you said qualifications, literally you thought about maybe thinking of doing this CLU-CHF.

00:14:50: so you hadn't actually started anything?

00:14:51: I haven't started any thing but what i left out.

00:14:53: meeting was gonna start and I say What's The Fast You Can Take It!

00:14:57: And they said well ya know have work.

00:14:58: then I would study at night I'd studied on weekends take test Monday you know, when our young advisors say well I have to do that.

00:15:06: They said don't tell me...I did it!

00:15:08: Yeah they've

00:15:09: done right

00:15:10: and as a matter of fact i had just had my first child so i had a baby..i said we're not gonna....we were poor and we had a

00:15:16: Baby!!

00:15:16: I wasn't going anywhere anyway.

00:15:17: I might as well study and practice and I got everything done thirteen exams in eleven months.

00:15:22: That's amazing.

00:15:23: uh-you have a lot of letters now right?

00:15:25: A lot alphabet soup going.

00:15:26: um-you know what I stopped.

00:15:28: I have the COU, CHFC and long-term care.

00:15:32: I started to go for more as like you know what?

00:15:34: I don't need them that much.

00:15:35: And then What happened which we'll get into later is when i became G. I was going To Get More and all of a sudden had to get All these other Management Registrations That I wasn't planning on.

00:15:46: it's Like You Know I'm done taking exams so good I'm good.

00:15:48: where am?

00:15:49: Do you think the getting the exams done, getting some of that learning helps you get to credibility?

00:15:53: or was it something else that got you there a little quicker?

00:15:56: Yeah.

00:15:56: That's great question so I You can ask my partner forever, Greg Large.

00:16:03: Greg large has eyesight was finally started wearing glasses because it made him look older and we're all looking for something to look.

00:16:09: We didn't have gray hair in our twenties And when you were trying to figure out what would make us look like?

00:16:14: We were a little more established.

00:16:15: so the designations Certainly help as you get ten fifteen years In.

00:16:20: maybe your clients aren't asking you As much yeah about the destinations but at the beginning they want know What do you now?

00:16:26: And you know, if I'm going to tell you everything about me and i'm signing up for you be my advisor What gives you the qualifications?

00:16:32: To Tell Me that.

00:16:33: uh You Know That that did.

00:16:34: You know what you're talking About.

00:16:36: so I think it does help and we encourage all The advisors in the agency to matriculate and get their designations.

00:16:42: They don't need to do in eleven months but being on a program to Get at them

00:16:45: or reasonable timeline

00:16:46: three years

00:16:47: yeah Yeah What happened about a decade out?

00:16:50: You kept going as an advisor, how long did you stay on the advisory track.

00:16:53: Yep so I was an adviser for eighteen years before i became a general agent.

00:16:59: So in by the late nineties our multi-life business really is taking off.

00:17:05: So Greg and I would go out and try to get new ones while managing the enrollments we had.

00:17:10: but We also were seeing clients.

00:17:12: so for example in the first enrollment.

00:17:14: We gave everybody like fifty people see Greg And I kept a hundred each which is now looking back.

00:17:18: it seems ridiculous But he, and i Would you know show The way by doing It ourselves okay?

00:17:25: And then we would do A lot of joint work with that With the younger advisors.

00:17:28: we picked a Lot Of People.

00:17:30: I give Greg a lot of credit for this.

00:17:32: He's like, we're not picking anybody who already thinks they know everything.

00:17:34: let's pick all the youngins.

00:17:36: All the youngest don't know anything.

00:17:38: They can do whatever We tell them to do

00:17:39: smart

00:17:40: and we literally picked.

00:17:41: you know one Of them was it was April's cousin?

00:17:44: Who is probably in business nine months.

00:17:46: i said greg were putting him on The team And all these young guys and gals.

00:17:50: they followed our lead but they didn't Know Anything.

00:17:53: so if they got into situation greg or i would go out help them close the life insurance sale or gather assets, whatever needed to be done.

00:17:59: So we were very busy growing the practice.

00:18:05: And then Rick Van Ben-Scotten, who was one of our good friends.

00:18:09: but Rick has already established and we thought he knew too much.

00:18:11: We weren't going to let him on the team because you'd want do it his way.

00:18:13: But as rick started CR success He wanted join in and actually had an opportunity at a big investment bank.

00:18:20: over The course year or two It went well.

00:18:22: around two thousand rick bought in became a full managing partner with Greg and I. that's when we started named Lennox advisors.

00:18:29: It was about our twentieth choice.

00:18:31: We couldn't get anything approved by the state or the insurance commissioner, every time it came with a name got turned down.

00:18:36: so eventually we've got Lennox advisors.

00:18:39: Was he office somewhere in the Lennox area?

00:18:42: So what happened is if you think about it, Lenox advisors were always a producer group inside of account financial groups.

00:18:51: Okay.

00:18:52: We started branding our own name because we wanted to build something on our own, and we want it built something specifically.

00:18:58: that was us cause.

00:18:58: Cowan had a whole bunch of people have nothing do with this.

00:19:00: they were doing different things And we went at our brand to be about what we are doing.

00:19:05: so we took up X amount of space within side the camp financial group continue grow.

00:19:10: And then around two thousand and five we started recruiting our own advisors.

00:19:16: We hired salesman to sales managers, and we started saying look Let's see, I would say the first recruiting group was four people and we actually were at eight.

00:19:37: Well let's put it this way This is two thousand five when i became the general agent in two thousand nine.

00:19:43: Lennox Was about fifty advisors so somewhere between two thousand and five In two thousand Nine We grew to fifty advisors And About fifty or sixty staff People?

00:19:53: We Were taking up.

00:19:57: We were doing about half of The agency production before I became the generation.

00:20:03: And between you, Greg and Rick Van what are different roles everybody's doing?

00:20:07: Well at that time it was very different than when i become a GA.

00:20:11: so uh... Greg is always the operations guy.

00:20:15: Greg did all.

00:20:17: yes he has got a mind for operation.

00:20:20: nobody else sees.

00:20:21: I love picking his brain.

00:20:22: You know.. Greg like one of those people starts talking get so excited.

00:20:26: lost me over here but your'e passionate about let do.

00:20:30: The one thing that Greg always did from the minute we became partners was if we made a dollar, let's keep fifty cents and invest fifty cents back into business.

00:20:40: And try to keep doing things that nobody else is doing... ...and he just had an eye for technology in things that would help us develop Linux.

00:20:50: I was Rick and I were more on the sales side too, developing The Sales Team.

00:20:55: Bringing the sales managers in doing joint work teaching everybody a sales process literally how to sell because if you're going High net worth people on Wall Street.

00:21:07: It's not like sitting around table mom and pop And we're gonna put a hundred dollars a month into this in fifty dollars with us.

00:21:12: This is you know, tens and twenties and hundreds of thousand dollars You need to what?

00:21:16: You're talking about?

00:21:16: you need to understand all the technical estate planning pieces of deal and Rick Greg Sold but he really Became the operation.

00:21:27: I and Rick, and i really developed this sales team And what rick Really focused on from date.

00:21:32: one was The asset management of financial planning part.

00:21:36: And i focused On selling the insurance part how you actually sold to be cases?

00:21:40: And rick would show How you became like the advisor and he helped us build out.

00:21:44: rick Was the person that e-money came To mass mutual back in.

00:21:48: i think it's two thousand and one or Two And, yeah.

00:21:52: So we all kind of did our different things and then anything... ...and I was also in charge of the financial side like the money of that house.

00:22:01: But we do everything with equal partners.

00:22:03: We discussed it made decisions together on every thing.

00:22:05: when you have three two people agree kinda going down that path.

00:22:09: That's a easy way to vote things in or out.

00:22:12: Yeah!

00:22:12: I'm assuming you and Rick beat up on Greg a little bit.

00:22:16: Sales guys versus ops guy?

00:22:18: Not really, it was usually... Well I would say if we're all sitting here being honest.

00:22:24: I'd say Greg and I banged heads the most because We were both very passionate about.

00:22:30: there's a lot of things.

00:22:31: look If he was in his wheelhouse, I didn't ask He did.

00:22:33: It wasn't my way else you can ask I did.

00:22:35: but There is like the van dyre has a lot Of Things that overlap And we had You know this no secrets.

00:22:41: Here.

00:22:41: we had A lot of yelling and Screaming each other.

00:22:44: But I think what we both appreciated was when somebody was so adamant, so passionate about it and you realize maybe they're more passionate around them than i am.

00:22:55: Maybe should just do it

00:22:56: their way.

00:22:57: And It didn't mean that person is always right by the way.

00:22:59: We made tons of mistakes.

00:23:01: Three good

00:23:02: ones.

00:23:03: Money in a garbage can here there's gonna be the best thing You know, like mass mutual.

00:23:07: Think about all the things they thought were gonna be greatest thing.

00:23:09: we spend hundreds of millions dollars and all of a sudden move back away.

00:23:13: The good thing is And I'll say this to anybody at an individual base not just running a firm.

00:23:18: you're going to make mistakes.

00:23:20: But when you see some mistake don't keep doubling down on it.

00:23:23: It's okay to back off.

00:23:24: instead made a mistake turn around figure out A better way to do that.

00:23:28: That idea learning from state.

00:23:29: now Keep trying to redo in different ways.

00:23:32: We did that a lot Of time but We became very good at understanding how to build a practice within the mass mutual framework.

00:23:45: Tell me about that, How does one built they practiced?

00:23:47: Well

00:23:48: so if you think about it we were basically running small agency without agency revenue.

00:23:55: So we figured out, you know the whole teaming thing that they've had now for probably nine years.

00:24:00: That didn't exist.

00:24:01: Oh We figure it out amongst ourselves how to maximize their revenues because we were sharing The incomes didn't matter whose name went in and we forgot.

00:24:09: How do we do?

00:24:10: It's a best way to get the most revenue him.

00:24:12: And then how would he do?

00:24:13: put certain people out in front of the expertise on this and different things and oh within the confines of the mass mutual contract.

00:24:20: But we forget I have to do at best and that's how we ran until When it became the general agent and one piece.

00:24:27: I won't spend a lot of time because it doesn't mean a lot to a lot Of people but once that by left out is in two thousand, too.

00:24:33: We sold a peace of Lennox advisors to NFP.

00:24:37: how

00:24:38: so The why the how on the Y's interesting?

00:24:43: I met this person who happened to be uh, our initial CEO of NFP.

00:24:48: And at the same time Rick had met somebody and we both got invited to this breakfast.

00:24:53: We brought it up.

00:24:53: We decided go to.

00:24:54: the meeting here was about.

00:24:56: It's a very different company now than most times basically roll-ups Of people in financial and insurance industry.

00:25:03: But we all Greg went to Penn State Rick went to Lehigh I went to Delaware.

00:25:08: All good schools.

00:25:09: none of us Were brilliant businesspeople because none of US.

00:25:13: we're all going to sales.

00:25:14: We were good at sales and doing, but none of us really knew how run the business

00:25:18: side.".

00:25:19: So what did was...we took a couple chips off-the-table mostly got people who are experts in running a business.

00:25:27: I didn't understand balance sheet or P&L how to run a company like a business.

00:25:36: And it really changed the way we looked at things where you're gonna invest in, and things that aren't going to invest in... How do go about things?

00:25:43: I think were all inertly people person- You know.. We could judge talent but then.... How did he pay

00:25:50: somebodies??

00:25:51: All these thing's that we would just doing off of the cuff!

00:25:54: We now had systems in place and NFP taught us how to Run Lennox as a Company not Just As A Sales Organization.

00:26:02: Did they give you people or did they come in and like specifically teach guys?

00:26:05: how to I guess think like owners?

00:26:07: So

00:26:08: great question.

00:26:09: They didn't really understand our business that well, which was fine because we don't want people telling us what do We wanted?

00:26:15: the resources

00:26:16: okay

00:26:17: mass mutuals Great at helping individual advice.

00:26:19: least of time.

00:26:20: they weren't teams.

00:26:21: there wasn't like it was today.

00:26:24: We leaned on NFP a lot to teach us so they gave us the financial people.

00:26:28: They give us all of tools we needed and then we would go ask can you come And chose how to do this.

00:26:32: Can you explain?

00:26:33: How'd he do that, and it helped us figure out how To be profitable but mostly how to grow the business in a profitable way.

00:26:42: You know where to spend your money, you know I say this for years I said we could we could spend money on anything we want Just not everything we want.

00:26:49: So what are the things going to be?

00:26:50: The needle movers and our business moving forward And it was a great, you know looking back I mean It was.

00:26:56: it's a great Great decision to do.

00:27:00: And all these years later We you know we have a great relationship with NFP now NFPA on and it hasn't Affected our mass mutual relationship at all which is great

00:27:10: Which is interesting because no there's but i don't think There's any other similar story right.

00:27:16: There are other advisors at Mass that are part of NFP.

00:27:20: Back in the day, there were more but no one's... I guess it was not true.

00:27:26: There is a few companies like firms or producer groups have sold to NFP and others.

00:27:34: It's not easy because when you have to think of, wow I had to thing what NFP would like us do and also how to think about what Mass Mutual wants to do.

00:27:41: And also mass mutuals are compliance cause.

00:27:44: everybody is registered reps.

00:27:45: so that was always the Trump card on that side of house where we hadn't made a decision.

00:27:49: could this fall under what MassMutual allows it or molest they should say?

00:27:53: I mean

00:27:54: if you think about the vast majority of advisors whether its inside a mass mutual outside especially in insurance side Non-pure AUM RIA kind of guys they don't think there is an exit on the horizon ever or one.

00:28:08: that's possible Taking chips off a table.

00:28:10: It's not real concept to most people.

00:28:12: You guys were able to think big enough To be able to find an opportunity and then execute on it And then use out your advantage to become I would assume actually good at business At that point.

00:28:21: yeah, well at the time?

00:28:23: It was a different model They had and they realized their model didn't work.

00:28:27: you

00:28:28: won in that

00:28:29: They would never have bought us The way we're set up in O too, but we evolved into a full service financial firm where we had a lot of fees coming in for planning and we have lots of assets management.

00:28:44: But that took us probably from O two to fifteen.

00:28:48: really get at point when it wasn't so insurance dominated were things could fall off the books quickly you know?

00:28:55: We also had group benefits practice as well.

00:28:58: So there was a lot sticky business in their that eventually grew.

00:29:02: But yeah, today I mean there's as you very well know There is tons of opportunities for advisors to figure out an exit strategy within mass mutual or without depending on what the makeup Of your businesses

00:29:13: see.

00:29:13: Yeah?

00:29:13: I think I know that but I don't think The average advisor has ever considered That it's been one of big realizations and i've Been having less two three years because they just doesn't mean anything To them.

00:29:22: yet They're not sure this Is true For Them.

00:29:24: Well I Think This A couple Things.

00:29:26: One Is You're Not Doing It at in Your thirties Your Age.

00:29:31: It's something that is... How old

00:29:32: were you when you guys took the chips off of the table?

00:29:35: I was thirty-six.

00:29:39: Thirty seven today, different world!

00:29:40: Yes but we just sold a little bit of the company and we sold a small fraction of it Just really to get access to information.

00:29:47: And yes put a couple in your pocket.

00:29:49: Today what you're seeing Is there more focus on within mass mutual And there's also people hearing the stories of all these other firms that are coming and offering but they're not going after, in this fewer room from around just a big life insurance guy.

00:30:04: They want somebody who has to balance practice which I think what Mass Mutual is doing is focusing on the balanced practice.

00:30:09: I think people have more opportunity later on in their work-life I should say to take some chips off the table or sell or merge and be bought.

00:30:19: stay around it.

00:30:21: It's not gonna go away It's going to be more and more opportunities.

00:30:24: And again, as people have what I would call recurring revenue.

00:30:29: they become like everything else that people want to buy a revenue stream.

00:30:33: so i think there'll be alot of opportunities continuing on.

00:30:35: Love it!

00:30:35: So nineteen years as producer?

00:30:38: Eighteen years the producer?

00:30:39: Okay then something crazy happens in your life.

00:30:43: Yeah its kind interesting.

00:30:44: this part is not the norm.

00:30:48: So again, if you just think we're running a producer group and I had a very good relationship with A lot of the executives at mass mutual because during my years As an advisor.

00:30:59: I went through the chairs that was the president Of The Mass Mutual Agents Association in two thousand six.

00:31:05: Okay so i'm built a lot of relationships With home office people.

00:31:08: And Because We were Doing a Lot of Business We were, Rick Gregg and I we're in the top five in mass mutual every year for my last thirteen years as an advisor.

00:31:18: So besides being a top producer getting time in their face also on The Advice Association i was with them all the time.

00:31:26: so the person who had the role before John Vakar it's guy Burr Pugh going up because want to ask him for money.

00:31:32: you wanna invest in something.

00:31:33: this is December And he said we wanted to talk about something else.

00:31:37: what?

00:31:37: He said when Howard retires Do you want to be the general agent?

00:31:42: I said, yeah.

00:31:42: How did i talked about that like in two thousand eleven Two thousand twelve?

00:31:45: he said no like in four weeks was Like huh.

00:31:49: He

00:31:49: Said do You Want The Role?

00:31:50: i said you know it's like an awkward conversation.

00:31:53: i said do i want the role?

00:31:55: Because i really you Know we had our head down building linux.

00:31:58: It wasn't a focus yet so It was an interesting conversation.

00:32:03: However, if you remember that it's December two thousand eight is the financial crisis and Howard pulled a ripcord very quickly.

00:32:10: I think he was worried about where the world was going.

00:32:12: He was sixty five And he was like i don't have time to rebuild any just said im out.

00:32:17: So anyway long story short ,I said yes .And they said do want To take Lennox as an agency or Do You Want The Whole Count Financial Group?

00:32:28: I Said why wouldn't I Take The Whole Account Financial Group?

00:32:30: They Said You Should because we were only about half, this was another fifty percent.

00:32:34: So yeah so that happened and the deal was Howard told me on my birthday which I already know it's January thirteenth and in February i want to say fifth or sixth how it was out as a GA.

00:32:47: now The problem is...I had full-time job you know running Linux with Rick & Greg And I didn't anything but being general agent by the way they told me within the next nine months.

00:33:04: And I said, well how does it take this?

00:33:05: So we'll take to twenty six first just so you're allowed to have your job.

00:33:08: Twenty-six allows you at least supervise people.

00:33:12: My nighttime job was studying...I took a twenty sixth or seven of twenty four all in like seven months and during that day i would learn how to be J. I learned finances.

00:33:23: It's little more simple now but back from today is very complicated and I knew none.

00:33:28: I came back, explained what we're doing.

00:33:32: They like this sounds like the smart

00:33:34: move.".

00:33:35: We rewracked the roles because had to find time learn how be a GA and then Howard's gone.

00:33:41: there is seventy-five other advisors that are part of Lenox so i'd have been their for them.

00:33:47: So Rick & Greg took on alot more of running Linux.

00:33:50: I still did some joint work with them as the people and i'm still there you know to rally.

00:33:55: but for the most part, I was learning what to do and luckily for me a good advice from another GA who said if you have a good ASO your chief compliance officer and a good CFO overpay them because one protects your butt and one protect your pocketbook!

00:34:12: And we had two great that have been with me the whole time as a GA.

00:34:18: And this woman, Christine and I sat and learned how money works.

00:34:22: we set literally side by side for months learning how it works.

00:34:26: And i'll never forget my first full month is GA was February... ...and all the allowances are built off of your first year commissions.. ..And It Was The Worst Month Agency Had Had In Like Five Years.

00:34:38: We're Going Out Of Business!

00:34:39: But We Learned How To Do It.

00:34:41: And Literally That First Year I mean, I was working a hundred hours a week between studying learning and still figuring out how to redo Lennox.

00:34:50: And then Greg and I were so busy, Greg had to give a lot of our clients weighted junior advisors because we didn't have time to service hundreds of clients.

00:34:59: So then you have go do the handoff with the... It wasn't like one-hundred percent hands off.

00:35:02: it's like You Take The Lead!

00:35:06: Just remember that first four or five months in this We're still on the financial crisis wouldn't even know where are gonna be business.

00:35:13: And by the way, this September three months prior our biggest client Lehman Brothers went out of business.

00:35:19: Oh

00:35:19: fun.

00:35:20: So I was like what is going on?

00:35:22: so it Was.

00:35:24: i mean It was a look back with fondness On that time but I forget how hard it wasn't and How stress we all

00:35:31: were.

00:35:32: But you know You wake up every day With a positive attitude and I'm gonna I can handle whatever comes my Way.

00:35:38: and We started to build on.

00:35:39: I

00:35:40: would imagine you were resilient, but how long did it take to actually learn how to be a GA?

00:35:44: Um...I probably retired before I learned.

00:35:49: You know here's what i'd say.

00:35:50: there is lot of different ways.

00:35:52: for me as general agent the most important thing leading any organization around yourself with great people and surrounding your self with people are greater than things that you're not great at

00:36:04: okay

00:36:04: And had by some other people we have.

00:36:08: And I had Rick and Greg, who I was already used to sounding off on everything with.

00:36:14: What do you think?

00:36:17: They probably learned about twenty percent over the course because they had to do their own thing.

00:36:22: so...I didn't sit there say here's what let me teach you but when things that wasn't sure even though they knew it both smart enough to realize lets talk through get a good spot.

00:36:30: But team we assembled under us were fantastic.

00:36:38: Learning how to be GA is like learning.

00:36:40: How to be the head of any organization Because if you think about it, It's about managing people and making sure everybody's buying into what we're trying To do and Rick Greg and I spent a lot Of time doing that.

00:36:53: The interesting thing though Is they still had to worry About because even Though you think You're the boss?

00:36:57: You Still have to get mass mutuals blessing And approval on stuff.

00:37:01: So learning how again because we're gonna charge a Lennox and I was already having these negotiations with mass for years.

00:37:08: They weren't surprised.

00:37:09: That's come back in negotiating right away, and the one thing we had was I. Immediately.

00:37:16: it was like Howard got us to good spot.

00:37:19: We went backwards The year before i took over into oh wait Because he wasn't financial crisis And as Like were not letting this is be an excuse We had a bad time in February, we're going to have better year.

00:37:31: And we started building and they showed me what the numbers looked like.

00:37:37: They said well you can double the agency for next twenty-five years and we basically tripled it in sixteen years.

00:37:45: It was people everybody buying in Everybody believing in what we're trying to do.

00:37:50: And then a lot of this is, and you have people that work under you it's getting people to believe they can do more than they think they can.

00:37:57: Getting people to be like yes!

00:37:58: You CAN BE IN FRONT OF SOMEBODY MAKING MILLION DOLLARS AND YES THEY WILL TRUST YOU BECAUSE YOU KNOW MORE THAN THEY DO.

00:38:04: They are trusting you because THIS IS NOT THEIR EXPERTIES BUT THEY ARE BANKING ON YOU BECOUSE OF WHO YOU ARE AND GETTING PEOPLE TO BUY.

00:38:10: AND IT LITERALLY TOOK, GOING BACK TO RIDGE'S QUESTION HOW TO... It probably took me I would say at least two full years, maybe three full years before I really got the hang of it.

00:38:23: But had a secret weapon remember?

00:38:25: I said early how he got into business.

00:38:26: my cousin David Shilman was still general agent

00:38:30: and he

00:38:31: called him all the time Okay And he set up a study group for me and I learned A lot from those GAs in My early Years like again things that let doesn't pertain to us because we don't do with That way.

00:38:43: If you go to the, I don't know how many of our fifty-five general agencies there's probably eight ten twelve different ways that people are doing things and ours match nobody.

00:38:51: So those early years having the GA study could really help me figure out mostly how to connect a mass mutual—how we did things at local level.

00:39:01: everybody has their secret sauce.

00:39:02: what makes them special but they way they interacted with MassMutual agency levels is very helpful.

00:39:09: looking back two or three years before it really felt like, okay I know what i'm doing.

00:39:13: So talk me through with the dynamics of your study group?

00:39:16: What did you actually get out of it-what kind of questions are you asking?

00:39:18: is this a professional advisory?

00:39:20: how do I be CEO type of situation?

00:39:23: so that's an interesting question.

00:39:24: This was more about because there's a lot...how you set up plans in one of

00:39:29: those groups.

00:39:31: The people who learned most from at the beginning were probably my cousin David and Harris Fishman, yeah.

00:39:39: And a guy named Dick Nolan who sadly passed away.

00:39:42: he retired as the GA and died like in the next year-and-a-half which was horrible story.

00:39:46: but what a great guy.

00:39:47: you could listen to him talk about whole life insurance all day made it sound the greatest thing of world.

00:39:53: buddy also knew how To take advantage this systems at mass.

00:39:57: so for example You wanted to recruit somebody.

00:40:01: What program were you putting them on to recruit?

00:40:03: and what with the pros in the cons of doing that?

00:40:06: What's the financial gain?

00:40:06: was a financial loss.

00:40:08: What's potential, what's the worst case scenario?

00:40:10: all those things You would think about because they've done it hundreds times.

00:40:13: I'm doing it for first time second-time third-time.

00:40:16: And then we talk about marketing.

00:40:19: how do you market For your advisors?

00:40:22: and then How do you mark it four recruiting?

00:40:24: so if you think about as a GI you're really doing two things to make them the best they could possibly be.

00:40:32: And then secondly, how do I get traction at the agency level or the corporate level?

00:40:37: How do i get other people who want to join us?

00:40:39: so it's really two jobs.

00:40:41: one is making them better too as how did we get more of them?

00:40:44: and Then how do i Get them to buy into what were doing?

00:40:46: So its an interesting dynamic in those conversations that are part about how To Make The Advisors Better.

00:40:52: Kind of knew that but I always want to hear how are other people doing it a part about?

00:40:56: How do you get people to join you.

00:40:57: Mm-hmm That's the part we were never doing before.

00:41:00: so that part was interesting to learn, huh?

00:41:02: The different ways doing this some of it is geographical Some of it Is they look at like we looked at Lennox for while as one big team.

00:41:09: Okay So we're recruiting to Lenox But there looking at the agency has little groups of people and maybe they're looking To find get a cold deep on two work with so-and-so And so so so very different.

00:41:19: what would you learn is like i said You learn everything, and then you take all your notes back.

00:41:24: And say what's pertinent?

00:41:26: I'd go back and probably keep twenty percent of my notes and throw eighty percent in the

00:41:29: garbage.".

00:41:30: That has nothing to do with us!

00:41:31: But listen everybody like i said earlier...you learned from everyone who wants a copy or doesn't want one.

00:41:37: So you were a GA for how many years?

00:41:39: A GA for sixteen-and-a-half years.

00:41:41: Sixteen-and half years that was

00:41:42: a lot.

00:41:42: No no fifteen and a half sorry fifteen

00:41:45: and Okay, and you were arguably one of the best GAs inside this system for a very long time.

00:41:51: One of most winningest.

00:41:53: I guess the words would be The Most.

00:41:56: We did the most business we didn't.

00:41:58: we sold the most insurance Of anybody at any other insurance agency by A lot over a Long period of Time.

00:42:06: I think everybody judges their successfulness differently.

00:42:10: There's a lot of agencies that have huge books of GDC, um, comparatively we were fairly small at the agency level.

00:42:21: while That's great for advisors The agency runs on.

00:42:27: you got it on the insurance business On the premium?

00:42:30: That's where the bulk of the revenue comes in from.

00:42:33: so What I didn't want to have is, I had no problem if somebody was building up their asset management.

00:42:38: That's encouraging because it's the right thing for them do themselves and for clients but not at the expense.

00:42:43: It wasn't either.

00:42:44: or we need you both okay?

00:42:45: And We wanted make sure.

00:42:47: eight You know.

00:42:47: so here's what I thought about things we had At that time.

00:42:51: let just say when we moved out a lot were on five thirty-fifth For long time.

00:42:54: But the last location less six years Was at ninety park paying one hundred ten dollars of square foot.

00:42:59: Okay So i Know how much square footage i gave each person.

00:43:02: I needed to have a return on that space.

00:43:07: So how much money, how much revenue did they have to create?

00:43:10: Now this isn't the under four people.

00:43:12: Under four.

00:43:12: it's trying to develop them.

00:43:13: get them developed good habits learn what their doing and make sure there were going to make it your five The people year-five if They had cover of their space plus at least fifty percent.

00:43:24: so now other agencies There in you know Pica City in middle America are paying twenty nine dollars per square foot.

00:43:31: They don't need to have the same profitability that we do because of our paying a hundred dollars a foot.

00:43:35: So, um... We would really set up as success my thought.

00:43:41: successfully just what I grew up on is building your ladle, building your insurance premium and we did very good job at it.

00:43:49: And then when you go back You know, even as any advisor in your first fifteen years you're trying about building your business and making money and building your own net worth.

00:44:00: But then when you realize the difference that they are making into their lives?

00:44:05: And you realize wow!

00:44:06: The more people I sell...the more families i'm helping....more people touching.

00:44:11: If I had to say the difference of being an adviser or a GA, Sold a lot helped.

00:44:20: A lot of families and built a lot of great relationships And I think it did a lot have great things for our family's.

00:44:24: as a GA you take the same skills But you're really helping your advisors.

00:44:30: be good at that.

00:44:31: So if Michael book goes on his own, and I could get twenty clients or I can teach ten advisers to get twenty client now with this two hundred clients so helping more people.

00:44:41: and The one thing that we continue going back to Howard Cowan is People saw how hard Rick Greg and I worked.

00:44:50: Yeah, And they work followed suit.

00:44:52: They so we did.

00:44:54: they learned and you know?

00:44:55: I go around the country talking about teaching language.

00:44:58: Mm-hmm.

00:44:59: if you go out and see the young advisors today There are using a language that i've been using for twenty five thirty years and The reason why is an.

00:45:07: I said this whole time I said listen personally This was talking about today would have dated cities.

00:45:12: I don't know what the date is.

00:45:33: Culture of winners, did you guys win fifteen and a half years in a row?

00:45:46: We won.

00:45:47: the agency below us.

00:46:11: And we did a bunch of times, but you know what happened?

00:46:13: A lot those agencies grew and it's easier to grow with smaller number than bigger numbers.

00:46:18: There are lots of great general agents in this system so they've grown their business well.

00:46:22: But our culture... You probably heard about this years ago but Culture is the most important thing.

00:46:28: Culture eats sales for success For lunch.

00:46:36: We focus very much on winning culture A sharing culture, a mentoring culture.

00:46:43: Everybody's door is open.

00:46:45: you know the newest person in the firm can knock on The most successful persons during the firm and they'll help them.

00:46:51: We do a lot of fun things with everybody.

00:46:55: You've heard me talk where I say walk to halls i get out there.

00:46:57: i want To be the CEO sitting In a corner office.

00:47:00: i wanna Be Out There With Everybody.

00:47:02: i'm saying im here You know, go ahead and pick up the phone.

00:47:04: Make a call let's walk through it.

00:47:06: Everybody feels that we're all in it together And I think everybody feel supported?

00:47:12: And you how hard is those first two three four five years your likes?

00:47:15: am i In The Right Business?

00:47:16: Am I ever gonna make him?

00:47:17: or are We going to make it?

00:47:18: and where was like?

00:47:19: don't don't look Up the guy twenty Years from now.

00:47:22: Look at the person three years Ahead of you.

00:47:23: look Where they Are.

00:47:24: you can see their feet you Can See Their tracks you can do what They can Do and Like I said you Get People To Believe Themselves.

00:47:33: everybody has to buy into that.

00:47:35: And I think there's not one person who would ever say, no i don't have time for you.

00:47:39: maybe they'll say hey im getting an important call come back at four ill take ya out for a beer at five.

00:47:44: and yeah it comes from rick greg and i. but the next level of advisors in our management team all believe that too.

00:47:51: uh... It comes form top culture is everyone's responsibility.

00:47:55: once u get over ten people it must be everybodys buying into it.

00:48:00: its too many peoples touch.

00:48:01: So this is obviously very evident in your advisors and I've met lots of incredible human beings.

00:48:07: One of the things that most people don't get to meet, they don't Get To Meet Your Staff right?

00:48:10: They Don't Get Me To The People That Actually Make All Of This Happen.

00:48:13: Talks To You About The Culture And The People There.

00:48:15: Yeah We Greg And Rick And I Are Very Fortunate Because you know.

00:48:21: um uh i read a book A Long Time.

00:48:25: It's Probably My Favorite Book.

00:48:26: You know what, I don't wanna say it's my favorite book.

00:48:29: It's probably the book I remember most that I read and is called Good to Great.

00:48:33: Jim Collins wrote it probably...I guess in early two thousands?

00:48:38: I didn't read until I became The

00:48:39: G.A.,

00:48:40: which was eight years later.

00:48:41: maybe books a little less old than i think whatever.

00:48:45: And on the book In the Book it talks about getting the right people on the bus.

00:48:49: Okay If you're not with the right People On The Bus your never gonna get where you are going The people that we had on ours.

00:48:59: I'll tell you funny story the person.

00:49:01: I gave it to a lot of our staff tree.

00:49:03: Okay, and uh the person who said was her second employee ever.

00:49:06: one day she comes in And she bought everybody a little yellow school bus to put on desks or reminder as your hiring People hired right people apart from the boss?

00:49:15: and Our staff, our senior staff a lot of them here's you know doing something right.

00:49:22: A lot have been with us ten fifteen eighteen years because they believe in what we're doing and I think We did good job of delegating an empowering them.

00:49:33: i said this to somebody In the last couple weeks?

00:49:36: I said They're not gonna do things The way You would Do it but you Have To be okay With that.

00:49:41: let Them Express how They do Things And Make sure That There Get It Mostly Right.

00:49:47: The example I used to use all the time is listen, you're gonna come here.

00:49:50: You just for advisor as well and i would say Use this expression All the Time.

00:49:54: So when you take your kids bowling not eight months old but probably three or four year olds a few more years?

00:49:59: Take them Bowling And what do you Do?

00:50:00: When you get to lane you pull up the things in the guards guard rails so they can't throw gutter.

00:50:05: yeah I said that's What we need To with our staff and Our advisors.

00:50:09: We Can't Hover over Them But we need to help them throw the ball down the alley.

00:50:14: It's going to bounce off the sides, but they're not gonna throw a gutter and eventually then knockdown some pins in gain confidence And eventually I'll start throwing straighter and straighter.

00:50:22: That's what our job is To help people feel They have autonomy but just keep it within the lane.

00:50:28: We've done that.

00:50:30: now Our top advisors and our top staff.

00:50:33: People

00:50:33: believe in that.

00:50:34: How do you do that?

00:50:36: Sounds really good In theory right?

00:50:37: The philosophy is amazing.

00:50:39: So we set up guardrails for them.

00:50:41: We don't just say you can do whatever you want.

00:50:43: You can say, listen, you're going to take this on here's the parameters and then go figure out The best way to do it within the parameters.

00:50:50: so that's within That lane.

00:50:52: they are probably gonna make mistakes.

00:50:53: as long As They stay with in those two bumpers.

00:50:56: we Can live With Those Mistakes okay?

00:50:57: We Don't Want Them Throwing gutters And Wasting Time In Money.

00:50:59: but as Longs We Keep Heading Towards The goal of knocking Down Pins.

00:51:03: if We get a little sidetracked Here and There It' fine But Their Learning Along the Way How Do You Do Mistakes and We Coach them Along the way.

00:51:09: That'S A great Thing.

00:51:10: So We've all gotten better at this.

00:51:13: I used to not be good at this, and over... I could imagine

00:51:17: you were a little disappointed?

00:51:18: ...I would lose my cool-a lot!

00:51:20: Um.. I think over the last probably fifteen years i would let people vent what they're gonna say And then if I wasn't prepared To have the conversation in a good way ,i would Let it go take a walk around the block and wait till I cool her head, figure out a better way to say it because they're gonna make mistakes.

00:51:42: That's the big mistake was little mistake of saying listen here is what you could have done differently.

00:51:46: do see if he continued down this path as would happen.

00:51:49: same thing with advisors.

00:51:50: The last thing we want to do with an advisor who has been case And they didn't do at that where you coach them Do It?

00:51:56: As you blow him up there going be afraid next time.

00:51:59: You know, everybody learns from making mistakes and it's fine.

00:52:02: What you want to do is say if he had done this way instead of that one maybe wouldn't have got stuck over there?

00:52:07: Maybe they wonder.

00:52:08: we've been reacted this way.

00:52:09: a good one I remember teaching for the first ten years of Langston Fires.

00:52:15: I fired everyone And then afterward We got too big.

00:52:18: It was like I'm not... First thing when we need HR at this point.

00:52:22: So it was like teaching people how to fire people Like never say, I'm sorry that... No.

00:52:28: Don't say I'm Sorry.

00:52:29: It's like little things along the way That you learned.

00:52:34: But i feel like Growing to a certain level-I don't know where it was but all of sudden We realized we needed The staff To take on A lot more.

00:52:44: Let them feel our passion, let them feel how we like to do things and then that's gotta be passed along to everybody.

00:52:50: And the newest person in the firm has to fill it and they've got.

00:52:54: give back to culture as well.

00:52:56: One other thing I would say is We have a lot of meetings and ask for feedback all the time.

00:53:02: If you asked for an open forum don't berate people.

00:53:05: You'd just be surprised at how many are willing to give it Back and never know where great ideas come from.

00:53:12: And that takes, you know it's going back to the book good-to-great.

00:53:15: a lot of people say no It's got to be my way You know because I built and I didn't.

00:53:19: No, it wasn't just about us.

00:53:21: its is about listening.

00:53:23: You know one day when are they greatest stories?

00:53:26: Of That was from a generational thing with Henry Ford.

00:53:31: They said these People they want you Know.

00:53:34: if we left it up to them decide what they wanted tells me one faster horses That's old.

00:53:38: We need to do this, but then marrying that with your vision With what other people are thinking because you're not gonna get a ride hundred percent of the time.

00:53:47: It's amazing.

00:53:49: I think You probably look at yourself and you'd think like where you were as leader back Then?

00:53:53: And where you've grown too and just how your mindset is probably evolved over Time.

00:53:58: What does leadership mean to you?

00:53:59: would see it going in the future here another Another turning point.

00:54:03: again

00:54:05: It's a good question Because i think You know, I think back again as Rick Gregg and I grew starting from just salespeople Somebody had to distinguish the difference between being a good manager And a good leader.

00:54:22: What's the difference?

00:54:35: Managing is making sure people are doing things the right way, having those conversations tasked.

00:54:41: Doing reviews.

00:54:43: Leading is getting people to believe in what you're saying, believing that's your want-to do and follow through a wall because they believe in where you're leading them.

00:54:55: And I think that... In the corporate world.

00:54:59: sometimes we get so bogged down on checking boxes that leaders sometimes fall back into being managers.

00:55:07: You have to have people managing processes, you have to having people managing the day-to-day.

00:55:12: what I realized was as more as it became a GA and i don't know what date but certainly in last ten years i was eleven twelve or thirteen...I felt my skill set is much about leading people getting to maybe do what they didn't necessarily wanna do, because they believed in we were doing and like going back to surrounding myself with great managers.

00:55:38: Cause they would grade it when they were doing.

00:55:40: And I think Greg and I all kind of evolved into that over the course time.

00:55:46: It's not easy and again its watching other people looking at you saying what are my best skills?

00:55:53: That probably goes back a little bit but i didnt pay much attention college.

00:55:57: I didn't either, so i'm okay with this.

00:55:59: It's not sure how I made it through college.

00:56:02: So you think leadership is like a learned behavior or an innate behavior that your just pulling out of yourself?

00:56:07: That's great question and its little bit of each.

00:56:10: And I think leadership being able to read people You know.

00:56:14: when we talk about walking the halls You need look for people who necessarily are having a great day and congratulate them hug em And sometimes I have a really bad day and you give them a hug too.

00:56:29: It's different kind of hug, and then some times got to kick people in the pants because they're getting all too big for their britches.

00:56:34: that doing what there supposed be doing?

00:56:36: And it's reading people and not being afraid to have hard conversation with somebody Because before he gave him a big hug They know that you love em' and care about em'.

00:56:47: And they gonna want do better cause they wanna be proud of them.

00:56:52: And our job is to say i'm proud but you need to be proud yourself and come on, let's go do this.

00:56:56: And I'll help you or show

00:56:58: you."

00:56:58: Let's go to it".

00:57:00: Once people feel that way they want them doing their own and hopefully what we try to encourage is trying get the people who then do that pay forward for the next Marsaur.

00:57:10: I love it!

00:57:11: There are a lot of things about being able read people in those difficult conversations like when you sat me down to have a little talk with humility Talk about, I guess A what does humility mean to you?

00:57:26: But ultimately You sat me down and i'm nobody in your life at that point.

00:57:31: You had a meaningful conversation That stuck with me for years.

00:57:33: I don't know if you think i've done anything About it but you get tasked things like that i imagine More frequently than you would sign up For difficult conversations that you probably Don't belong In the middle of always.

00:57:44: How does one navigate this?

00:57:45: yeah so um You know, you have your own house.

00:57:49: Your own family, your own kids and then as a GA everybody's problem is your problem And

00:57:55: they're all your family now?

00:57:56: Yeah They are all irresponsible and you have to learn how do...you know I would say you have treat people fairly not necessarily equally.

00:58:05: My GAs

00:58:05: love that Fair but not equal.

00:58:08: I Love your GAs But um..You need to really think through the situation and how to deal with it.

00:58:16: So for example, I say this... And iIthinki said this to you like you came- You weren't my advisor!

00:58:22: ...and i'm friends of your GAs and someone we know asked me to have a chat with about what happened.. ..And you already had uh.... Your first or second big year?

00:58:32: ....And its very easy to become.

00:58:34: you know full yourself.

00:58:35: look at me.

00:58:35: im important and you know had that chat and you were doing great and i think the words is said listen if u're more humble people who want to do things for you.

00:58:46: And I think, also probably said since I've said this a million times You don't have to say everything your thinking because you don't know how people react to things.

00:58:56: so Humility is it's hard Because if you think about in the last few years People keep putting up on a pedestal.

00:59:05: I'm talking that use specifically and its very easy To be go oh look Who i am?

00:59:12: People used to say this, watching football when they scored a touchdown.

00:59:15: You see people celebrating and then you'd see guy like Barry Sanders who's maybe the greatest running back ever he'd score a touchdown.

00:59:20: we just hand the ref the ball and jog off of field.

00:59:22: And the expression that uses...he has been there before.

00:59:26: it was not his first time.

00:59:29: Be humble be respectful.

00:59:32: When peoples start to respect YOU That is their first step in leadership.

00:59:36: Because until they respect you and realize, look I want to be like that person.

00:59:41: I wanna have their attributes.

00:59:42: That's where leadership really starts.

00:59:44: take off till the next level.

00:59:46: And...I don't- I mean.. I'd like think i've had some of those qualities.

00:59:51: Look back at been.

00:59:52: You know president this and chair my whole life.

00:59:55: I was always been captain in soccer team.

00:59:58: So it has been there but definitely develops as watch other people when I'm in that situation, and want to handle it that way.

01:00:07: What happens is you come into the GA.

01:00:10: they're literally thrown at you every day.

01:00:12: You can go with a whole agenda of what your plan for days get accomplished And throw out window because nine people running with their hair on fire.

01:00:20: There's also this isn't a book That was quoted on.

01:00:27: It was about urgency an emergency And i would always try list the person.

01:00:33: Is this urgent?

01:00:35: or is this an emergency that we need to like stop everything and fix us right now?

01:00:38: And there's actually a Harvard Business School article, one of my colleagues Christina gave me once about having people put their monkeys on your back.

01:00:46: Good article!

01:00:47: Yeah...and they're problem-put it on me.

01:00:52: Sometimes the GA has to be because I have to deal with it But there's also the point where you have to give it back to them and say, no this is... You created this issue.

01:01:03: And now you need to deal with that in a lot of that as advisor-with-advisor, adviser-with staff person, advice-with their assistant.

01:01:10: There are all these different things.

01:01:11: they come up even more personal advise or with their spouse, advise with their parent, advise over at your children, advise for the IRS.

01:01:17: pick a topic.

01:01:18: I don't hear about that one.

01:01:20: Oh my God!

01:01:21: The stories we can tell is unbelievable but help.

01:01:26: How do I get this person to a better spot?

01:01:29: At the end of day, I want them to be happy and we'll let them in good spots so they can focus on their

01:01:33: business.".

01:01:33: And that's a win for everybody!

01:01:35: And...I think like everything else life but more times you'd do it, the better you got at it.

01:01:40: I love it.

01:01:40: Um..I think were gonna shift gears little bit- I wanna talk about some bookisms That i've learned off ,that came up with our research.

01:01:48: There are so many interesting things that u say all the time.

01:01:51: You talked.

01:01:51: not negotiable immediately.

01:01:53: non-negotiables, rapid fire.

01:01:54: top three personal non-negotiables.

01:01:56: Go!

01:01:57: So I would say the three they've changed a little bit because in so just let's back up one second.

01:02:04: Just hope people have an idea where i am in life?

01:02:06: Sorry retires a GA at the end of twenty four last year...I took off completely.

01:02:11: You

01:02:12: golfed alot.

01:02:13: you worked on your golf game?

01:02:14: I thought I'd golf more but didn't.. I was still helping and coaching mentoring But wasn't talking to clients.

01:02:19: it really wasn't doing much.

01:02:21: Now I have a contract with MassMutual.

01:02:24: Some because, my son Brian's in the business and also clients are still calling me but for most part I'm eighty-five percent retired.

01:02:39: so what does that mean?

01:02:40: I probably work about twelve to fifteen hours per week.

01:02:44: So my nonnegotiables is only meetings on two days.

01:02:48: What I don't wanna do is have, when I'm not working.

01:02:52: Oh!

01:02:52: Have to be back by two because of that meeting?

01:02:56: So and today's a fun day brother this isn't work.

01:02:58: tomorrow i have three client meetings.

01:03:00: okay um so my monago show-I am now having meetings more than...more then two days week..i dont had any meetings before ten AM.

01:03:09: Because what I've done My whole life was get up at four o'clock in the morning And I realized thats like the middle night which is great.

01:03:18: My other non-negotiable, I'm gonna say sleep for eight hours.

01:03:23: I can't really sleep three hours but I stay in bed for eight hour.

01:03:26: sometimes I'm staring my alarm clock two more minutes because one of the things they say about your mind and saving me from dementia it's getting eight hours to sleep at night.

01:03:34: so I do a lot... And then my other thing is I never skip more than one day in a row going into the gym.

01:03:41: What I've gone from daily non-negotiables week-long negotiables.

01:03:49: The funny thing, which I'm sure you're gonna ask me next is my work?

01:03:52: I said...

01:03:56: They

01:03:59: only want to hold myself too!

01:04:00: Is if i have a client call with my son or another advisor and it's probably four five people working on things right now.. that I tell everybody, I say on my calls because i want them to say wow he really does say it.

01:04:22: and Wow!

01:04:22: It Really Works.

01:04:23: And they're hearing it live.

01:04:25: so I'm focusing not only what the client says but you know a lot of these are zoomed in watching the advisor saying What do You Say?

01:04:42: I'll say option of flexibility and show how I work it into the conversation.

01:04:46: When I talk about keeping things at a high level, focusing on the concept... Let's back up a bit!

01:04:56: Let's go to thirty thousand feet and focus on the

01:04:58: concepts.".

01:04:59: And they're saying what he always says which is kind of fun.

01:05:04: but again that other part is i do a lot coaching.

01:05:09: Same reason why I was a GA, i always had client meetings because... ...I want to stay sharp with what I said and I wanted be able tell people.

01:05:16: No no!

01:05:16: I didn't do this in nineteen ninety-seven.. ..I did it last Tuesday so the two hundred fifty thousand all premiumed.

01:05:20: I promise you This works try it and say it.

01:05:22: see how It goes.

01:05:23: So I knew we went through rapid fire.

01:05:24: We can go back in?

01:05:25: I like The concept thing.

01:05:26: I'm gonna Go Back To That Really Quickly.

01:05:27: But You Always Say And I've Heard You Say It A Dozen Times Now If The Client Buys The Concepts of Details Don'T Matter.

01:05:33: if the client Doesn't Buy The Concept that Details don'T matter.

01:05:35: What Does That Mean

01:05:36: Yeah.

01:05:37: So my first year as an advisor, a guy came in.

01:05:40: he was a Northwestern Advisor spoke at our agency's name is Howard White and He puts it up on the screen.

01:05:46: And I was like wow love that?

01:05:49: You know what time there was?

01:05:50: no we're gonna email you your slides.

01:05:51: It was nineteen ninety one.

01:05:52: so i wrote it down and uh...I remember saving it.

01:05:56: and um..and I have a whole story to tell when I speak.

01:06:00: but imma tell that story.

01:06:00: now what I realized is, you know when your beginning in your career take senior advisors out and they...you make the call.

01:06:08: And then they run a

01:06:08: meeting.".

01:06:09: Now remember that slide?

01:06:11: Remember thinking God why's he going down to that rabbit hole!

01:06:14: How are we getting at

01:06:15: it?!

01:06:15: We're gonna be stuck.

01:06:16: talking about something makes no

01:06:17: sense!!

01:06:18: Why are doing

01:06:19: this??

01:06:19: Why isn't just talkin' bout

01:06:20: concept!?

01:06:21: When i realize our clients were I powered people on Wall Street.

01:06:27: They were working on huge deals and had no time, they wanted the person to get point-to-point.

01:06:32: so what I realized is when I started doing this by myself just folks let's stay high level for me.

01:06:37: make sure you get concept a lot of times.

01:06:39: good i'll do it!

01:06:40: And never have go down below because that how made decisions we used to making decision everybody.

01:06:46: if your walking into store and buy new TV cause tv screwed up yeah?

01:06:51: You know I need to buy seventy five inch TV.

01:06:54: which one should I buy?

01:06:55: Well, we had just which one Sony Samsung?

01:06:57: Which ones should I buy?

01:06:58: so good.

01:06:59: I'm good and it'll fit here And when you can deliver i don't need to have TVs made

01:07:04: doesn't matter.

01:07:04: right

01:07:05: now let's say It was a three hundred thousand.

01:07:10: Let's say your buying an apartment of five million apartment.

01:07:12: You're gonna want a little more detail.

01:07:13: Yeah, so everybody you have to know how much money Everybody's willing to spend with just at the concept level.

01:07:19: and if your meeting a client You know pick I don't who your clients are.

01:07:22: they're watching.

01:07:23: but let's say it said twenty or thirty forty thousand dollar premium And there saving five hundred thousand all year.

01:07:28: That's a quick decision?

01:07:29: I don' need no get into Into the rattle.

01:07:32: and what do you realize is?

01:07:34: Client appreciates it.

01:07:36: yeah every appreciates brevity and you're saving yourself time.

01:07:39: and then the one last kicker where Oh, it really sunk in.

01:07:43: I met with a guy who's like very analytical guy and he asked me to break down how the dividend is done And i called mass mutual.

01:07:50: they gave him this whole long thing which i've never seen before.

01:07:53: i walked into The Guy?

01:07:54: And i show what to them and i got into conversation.

01:07:57: know any of the answers?

01:07:59: i didn't even understand What He was saying and let's say that's the last Thing i'm going Into.

01:08:02: That Like That now if you have A presentation Then i'm gonna Show.

01:08:06: i'm Still Know Every Number In every word Backwards and forwards but It doesn't mean Have To go Through at all.

01:08:11: If I give them to buy the concept.

01:08:13: And if they don't by the concept, then what's a point going through it?

01:08:15: Because the details don't matter.

01:08:17: and if They buy the concepts do i really need show more of the details?

01:08:20: The last thing will say is...if they have More questions!

01:08:22: I promise you they Will ask.

01:08:25: Yeah turns out..the best clients are not shy about It but think You must've done something special where you figured Out What their number was quickly.

01:08:31: How did you figure out Their Number?

01:08:33: You know, so great question.

01:08:34: So I'm always very folk.

01:08:36: people say how much money you make?

01:08:37: How did that...I'm very focused on-how much money do you save like clockwork every year?

01:08:42: okay and someone tells ya I saved a hundred thousand dollars a year at Clockwork.

01:08:45: look at their statements.

01:08:46: they have twelve dollars in the bank.

01:08:48: where's the money?

01:08:49: well maybe i don't save it like clock work..so I want to know what they're saving.

01:08:52: And then depending upon this is a non estate planning case under state planning case.

01:08:57: It's more about liquidity.

01:09:01: you know, they say well we have XYZ dollars coming in.

01:09:04: Well if we gift that all to trust and were using it for premiums now then don't have the coming-in.

01:09:08: So its really like everything else on our business.

01:09:11: If your very good at fact finding You usually get into numbers quickly.

01:09:14: What happens is a lot of my advisors from GA would come in.

01:09:17: They'd go I dont'know what show this person.

01:09:20: And i said do ask them this.

01:09:21: Do ask him this.

01:09:22: No no I said, well how would you know to sell them when you have no idea what these questions are?

01:09:27: You need go back and ask him the question.

01:09:29: It's not rocket science.

01:09:30: it was rocket science.

01:09:31: i wouldn't be good at it.

01:09:33: um...it is people..and y'know i talk about fact finding ..i said here's key.

01:09:38: Be like a nosy friend.

01:09:40: you meet up buddy having seen some college in seven years ,you gonna meeting for coffee or beer.

01:09:45: so whats going on?

01:09:46: wow!

01:09:46: How did you decide that?

01:09:47: ?You're leaving why?

01:09:49: What'd your wife say?

01:09:50: And then what she said, how are our parents feel about that.

01:09:52: You're asking all those feeling questions like you would ask a friend but you're sitting in front of prospect and it's like ah much money is in your four.

01:10:01: one K who cares doesn't matter right?

01:10:05: so I think the better you get at fact finding The case presents itself now At the beginning.

01:10:11: need to go asked to your advisor where do this information?

01:10:13: But as you become more and more experienced, it kind of opens up.

01:10:17: And tells you what to do with the site.

01:10:18: is that the advice?

01:10:19: You'd give two a new advisor sitting in front here.

01:10:22: I gave them all the time.

01:10:23: well brand-new advisor It's me its said don't think about anything except activity and studying.

01:10:29: okay All day long.

01:10:30: you folks on making your calls Making your appointments.

01:10:33: Don't leave till you make whatever.

01:10:34: The number is yours.

01:10:35: sales matter tells you and then go home eat and Then you study.

01:10:39: You study your sales pitch, you studied Shinora.

01:10:41: You started to do a fact-finding for your CLU, so if you're CHFC or whatever it is that you need to study but in the first year of two its all about learning and getting better...you can ask my wife this there was something that Howard Cowan told us which is an opening pitch called The Funnel Talk.

01:11:00: make her sit there and I would do the funnel talk all night long.

01:11:05: She even knew that answers she was supposed to give at some point, yeah if you go back to in nineteen ninety-five she could do the final talk probably better than most of our advisors because thats what it is.

01:11:15: its practice practice practice.

01:11:16: Saturday mornings i'd get up a little breakfast as you know um and i would go three hours either going into office or go into out little study.

01:11:23: we had our nine hundred square foot apartment which were studying our closet.

01:11:27: but i woudl practice.

01:11:29: It is repetition and it's keeping all the junk out of your head because its so hard, there are so much rejection those first couple years.

01:11:40: And you make a sale that gets turned down in underwriting.

01:11:45: You have to feel like making little bits of progress each day and only be around positive people Because all negative people will tell why I should even go do something else.

01:11:55: And if you stick it out, and get to year two.

01:11:57: You keep going over the hurdle right in front of... Don't worry about five years from now!

01:12:01: Worry about that hurdle right infront of your head when you realize I got

01:12:04: it!!

01:12:05: I can do

01:12:05: this!!!

01:12:05: So once you get to that point where like you know what?

01:12:09: I CAN be successful with business and then just how far you grow from there.

01:12:12: What are you told an experienced advisor somebody ten or twelve fifteen years into

01:12:15: business??

01:12:17: So there's a couple things.

01:12:18: The number one thing I worry about that are people, fifteen years in the business and they seem on the outside like their doing well And i'll sit down with them at the end of year.

01:12:27: I said show me what you did all year?

01:12:29: I said so You have all these sales.

01:12:31: how many-how much of that business came from new clients?

01:12:35: What do you mean?

01:12:36: Well you sold seventeen whole life policy.

01:12:38: you gathered nineteen million dollars of assets.

01:12:40: How Much?

01:12:42: None five percent, ten percent.

01:12:44: You always need to have and it depends how much clients you have.

01:12:47: but I would say twenty-five to thirty-five percent of your business needs to come from new people because if we keep doing that eventually they will need to buy more.

01:12:57: yeah But If you Keep going back To the well in three or four Five years you Have nobody to call on.

01:13:00: okay And then Your Own Business Is to go Pray on the new folks and hopefully they take you out.

01:13:05: But if you continue to build your business, keep adding new people.

01:13:08: You'll have a business that will go on forever.

01:13:10: Keep doing your funnel talk.

01:13:10: Yeah

01:13:11: Well whatever it would ever talking this.

01:13:13: And then other thing I tell People is On your non-negotiable discussion.

01:13:18: This is fifteen years.

01:13:20: It doesn't mean you don't should hold yourself accountable.

01:13:22: Its very easy To say oh its beautiful day.

01:13:25: Im going play golf today.

01:13:26: I've got successful business.

01:13:27: I can do this.

01:13:28: The point

01:13:28: of business though That you can?

01:13:29: The

01:13:29: point Is set up your week To have to play golf on pick a day Friday or whatever but on a Thursday when you're supposed be making phone calls Or meeting people.

01:13:40: You don't cancel it because the nice date No, I have told my account myself accountable cuz like told myself I was gonna do XYZ today and call nine centers of influences are doing ever something to Do what

01:13:49: makes?

01:13:49: People kind of fall off this self-accountability track Especially once they start to get a little successful.

01:13:55: i would say there's A level Of success where They Are not necessarily very worried about money.

01:14:03: They have X dollars of recurring revenue coming in and like, oh I'm gonna be fine!

01:14:08: And one my cries they make every June to go down the halls with everybody said listen If you take off July and August, You're gonna have a bad September-October November.

01:14:21: And I'm going to be taking whole group of different people on our quota bus to Chippin', your not gonna there!

01:14:25: So...you could work little bit less.

01:14:27: enjoy the summer half time yourself but make sure that making calls when having appointments until yourself help to have strong end of year.

01:14:33: It's very easy to rationalize in head without anybody else getting your head.

01:14:37: i want them hear my voice On that Friday morning or Thursday afternoon.

01:14:42: Look at my show.

01:14:43: Michael can see what im doing.

01:14:44: What would he do?

01:14:45: And he'd probably make the call or go on the appointment and play golf later.

01:14:48: I love it, so we'll go up there wrong again.

01:14:51: What advice do you give a GA?

01:14:53: It's great point.

01:14:54: So i talked about earlier surrounding yourself with good people knowing who are what your good at A brand new GA.

01:15:04: let me step back The part that i skipped which the normal path is, you be an advisor.

01:15:09: You're a sales manager for quite awhile and become a GA.

01:15:13: as a salesman, you learn a lot of those skills to become a G A and then come in GA.

01:15:16: I didn't have that interim step.

01:15:19: it skipped sales matter.

01:15:20: so i literally didn't know what I knew about

01:15:22: being a J.A..

01:15:24: I think a lot jays.

01:15:25: once you get into the game ,you kind of learned What your best skill sets

01:15:30: yeah?

01:15:31: And Then Fill the gaps in with people around you and even if it means overpaying them to make sure we have the right People.

01:15:39: so You're able to provide all The things that advisor want because when you step In as a GA, you could Have a cold deep there.

01:15:48: who's already successful?

01:15:49: And say well.

01:15:52: I was very good relationship With Brad and Brendan.

01:15:55: they helped me develop my business but now They are gone.

01:15:57: i don't know.

01:15:58: what do i owe To you?

01:16:01: You have to come in and develop a relationship with the senior advisors.

01:16:06: What do you need from me?

01:16:08: I know you're already successful.

01:16:09: There's gonna be things you need.

01:16:10: take the time to build those relationships With the people who create the most revenue for the firm.

01:16:15: it could be three It could be twelve.

01:16:17: That's the most important thing.

01:16:18: when you come into our to make sure they're not leaving And that they want to help support you, you can do everything you can For them and they care about the future of your organization.

01:16:28: and once you get there buying You have to then stand behind, you said your gonna do for them.

01:16:34: Once they feel like I got them and their a good spot now he can focus on recruiting and building the rest of organization.

01:16:40: if they start to leave everybody else is in question.

01:16:42: why am i staying?

01:16:43: So it's me.

01:16:45: its securing front yeah And then building from there.

01:16:48: so thats senior advisors most productive advisers but make sure your senior staff while maybe loyal people before you get what you're trying.

01:16:58: Okay, and then the last thing is don't try to be somebody.

01:17:02: you're not.

01:17:02: everybody does things differently Nobody.

01:17:05: if you're taking over for a successful general agent You don't have to be that person.

01:17:09: Be yourself.

01:17:10: Be true.

01:17:11: let people see who you are And you have to me a little vulnerable.

01:17:14: They have to realize That you don't know everything?

01:17:17: And they're gonna want to help you.

01:17:18: I want you get people wanting to Help you.

01:17:21: It's an amazing thing.

01:17:22: no there's A great line in a movie In.

01:17:28: So I talk a lot about take help from whoever will give it to you.

01:17:32: And the movie, and have ever seen that movie My Cousin of Any?

01:17:34: Yeah!

01:17:35: The very end they're leaving.

01:17:38: he finds out she made call him with the judge.

01:17:43: He said You Help Me?

01:17:46: and she goes, you know her funny New York accent.

01:17:48: Oh yeah mad at me because I helped ya?

01:17:51: oh my god wouldn't be awful if somebody helps you on every case for the rest of your life.

01:17:55: And what a tragedy that would have been.

01:17:58: We all need help.

01:18:00: Nobody knows everything.

01:18:02: Letting our senior team feel like wow he needs my help.

01:18:06: Yeah, and I'm part of this thing.

01:18:09: Let's make the same a juggernaut.

01:18:11: get people to buy in.

01:18:12: then you can do whatever You want but if you don't get that senior appeal to buying your not gonna go anywhere.

01:18:16: well Then i'll ask for some help.

01:18:17: now what advice yet?

01:18:18: For me?

01:18:19: Well, you've got What would call People who'd call Me all The time And say we Want To build A mini Linux Advisors.

01:18:26: How Does That Mean?

01:18:26: You Don't have A hundred.

01:18:27: Some People But Do Have Solid Leadership And The Leader Of The leadership Is Also The Biggest Rainmaker Right And a lot of everybody else takes their cue from what Kuldeep says.

01:18:40: I'm gonna go back to words we've already used today, be humble right?

01:18:46: Make sure that they respect you for the way you act and the way do things because then it's not just Kuldee pays me.

01:18:54: so I have to worry about.

01:18:55: he said this... and what you're going to realize is people will step up.

01:19:03: And then, What do the things at your level that are the biggest difference maker for me?

01:19:15: and then try to hand off all the other things.

01:19:17: Doesn't necessarily mean some of what you'd like to do, but if there's somebody else that does this as good a better than I do it can really focus on tasting next level.

01:19:25: The second thing i would give advice is because your had such great amount success already Is decide at your age And A baby I'm gonna be working for a long time, what do want this thing to look like ten years from now?

01:19:39: And make sure all your actions and every penny you spend is leading towards where you wanna be.

01:19:45: As soon as you feel it's not because you'll make mistake say it isn't then maybe just cut off.

01:19:53: focus on the things of different makers.

01:19:55: If your people believe in you and the people who believe, then what are doing?

01:19:59: You'll have a great team.

01:20:01: I already see that things you do treat them great.

01:20:03: take their places to fun thing.

01:20:05: Morale is huge part of culture.

01:20:07: if people feel loved appreciated they're going want give back make like family think.

01:20:14: most important thing as i do it's smaller for but just always look whose not having good day.

01:20:22: And last thing listen to everybody in the firm.

01:20:24: It's small enough.

01:20:25: where you know one person sounds like a silly idea.

01:20:28: that The newest person of firm.

01:20:30: I'm new here, but at my old friend we did this You're like what?

01:20:32: A great idea.

01:20:33: let's do That yeah and all of a sudden your off till the race is no ideas.

01:20:36: So keep.

01:20:37: sometimes it's you don't want to stop.

01:20:39: What made you successful But were little tweaks We can make along way to get us even To a bigger spot and never say we can't Do

01:20:46: Why not?

01:20:47: I love it.

01:20:48: I want to do one more book of them and then we're gonna go for rapid fire.

01:20:51: You got the saying, you should be where your feet are.

01:20:54: what does that mean?

01:20:55: to walk me through this.

01:20:56: Where did come from?

01:20:57: It's a good one for you And i'll tell you why.

01:20:59: it started with When We had our second child which was in my one who just had a baby yesterday And it was like, we moved to Marlboro, New Jersey.

01:21:12: I have no idea why do but... It was a horrible commute and what the heck did you move here for?

01:21:20: Most of my time getting back-and-forth!

01:21:24: Maybe i could spend some hours working from home with the kids, I was really felt guilty.

01:21:30: I wasn't in the office and i would work till nine o'clock at night.

01:21:33: April's home with two babes like oh my god!I need to be

01:21:36: home!".

01:21:36: And it was not focusing on what I'm doing but feeling that should be

01:21:40: back-at-home.".

01:21:41: And remember thinking one day you know what?

01:21:44: You can drive yourself crazy wherever YOU are.

01:21:46: Be a hundred percent focused on whatever you're doing and whoever is sitting infront of you.

01:21:51: Give them a hundred per cent of your attention because if you think about what we should be doing, your screwing them and you're screwing yourself.

01:22:00: And that's at home with your children and your spouse?

01:22:03: That's how it works for colleagues or

01:22:05: clients?".

01:22:06: I promised myself...I was never going to feel guilty of where I am cause this is who I'm supposed to be in.

01:22:11: my feet are there....that's all i am as!

01:22:13: I'll give one more feet one which a good one for our younger advisors.

01:22:19: So tell these back-to-back.

01:22:22: I remember as our kids, you know with three kids and again part of this was like I need more time in the day or am I getting more time on a day?

01:22:30: And I'm just gonna get up earlier.

01:22:32: And then we're going to do stuff when nobody else is awake.

01:22:35: so started go into the gym before people were awake and had meetings before it's wake.

01:22:39: Rick Van Benskoen would have phone calls at four o'clock five in morning working away from city if you set your alarm.

01:22:52: It's exhausting.

01:22:53: And I tell the story, because one of my non-negotiables is if i'm asleep at nine o'clock or if I went on a party until one o' clock in the morning, alarm was still going off at four O'Clock In The Morning no matter what and A lot Of times I'd be like oh My God!

01:23:04: I can't get up...I Can't Get Up and I would say to myself just get your feet On the floor and start walking toward the bathroom By the time you get to the bathroom, it doesn't matter.

01:23:12: Four o'clock five or six o' clock It's all early in the morning.

01:23:15: You'll be just fine.

01:23:15: Just get your feet on the floor and start walking And you're gonna be fine.

01:23:19: And I say that...I said this To my wife My kids sometimes when we have to get up really for a flight They are like Shut

01:23:23: Up Dad!

01:23:26: I love it.

01:23:26: Get Your Feet On The Floor Start Walking In The Bathroom.

01:23:29: This Morning Was One Of Those Where i was Like I Just Gotta Get Up.

01:23:33: Okay This Is One of My Favorite Segments.

01:23:36: Its Rapid Fire.

01:23:37: Normally I Start With Early Bird Or Night Owl.

01:23:41: You know for a long time I was both.

01:23:43: It's my reputation, i would say as I'm sixteen at sixty one.

01:23:48: um...I try like it said in return but really hard not from somebody who got up early their whole life and really tried to stay in bed till six thirty or seven.

01:23:57: Seven-thirty if possible But even though I can rockin' the night?

01:24:05: It seems like you're in a big struggle now, right?

01:24:07: You know what it's also my friends are older So we just don't no one staying out as late as we used to.

01:24:13: But I enjoy both sides of that creation.

01:24:16: All right

01:24:16: phone calls or text.

01:24:18: Love getting a text first because then decide if i want to talk to the person

01:24:22: What your coffee order?

01:24:24: very simple Coffee at home.

01:24:26: I have a shot of espresso coffee and this little bit of warm skim milk.

01:24:30: Don't give me hot coffee and cold milk drives me crazy.

01:24:33: What's a movie you can quote?

01:24:34: start to finish?

01:24:36: Well, I've got probably three.

01:24:38: The Godfather for sure my boys and I. if it's on we just watch it My cousin Vinnie And probably the movie Arthur which our whole family watches every Christmas.

01:24:47: as long as i remember Arthur

01:24:49: didn't see that coming in.

01:24:50: my cousin Vinny That makes sense.

01:24:52: You quoted all time what is best place.

01:24:55: have ever spent money?

01:24:59: Business-wise, without a doubt.

01:25:00: I think i said it before but always reinvest in your business if you Think about your best rate of return

01:25:05: not

01:25:05: is believing yourself.

01:25:06: now the oh not business.

01:25:10: Probably on a random thing, we bought A Place in Florida.

01:25:14: We were young.

01:25:15: I wasn't really thinking about buying A Place In Florida and then COVID happened And now it's become the big part of our lives.

01:25:24: so you know It was kind of frivolous at that time but now i love That.

01:25:27: We Have It.

01:25:28: What is The Best Book You've Read This Year?

01:25:31: So...I have been reading mostly fiction

01:25:35: books

01:25:36: A lot of Daniel Silver books, which by the way came out with a new book yesterday.

01:25:39: But probably my favorite book I read My Favorite musician is Tom Petty and this died.

01:25:44: his lead singer wrote a book all about their history And somebody told me about it?

01:25:48: And i read The entire book on one flight to California.

01:25:51: didn't put It down and read the whole book.

01:25:53: love yeah You know.

01:25:55: what's funny Is when i read a business book Which are reading something somebody sent Me and i started getting aggravated.

01:26:08: I

01:26:13: was like, you know what?

01:26:25: out of staying the business, you know?

01:26:26: What do they think about people in a life insurance business.

01:26:29: And I had already said yes to camp financial group and after this one person who was significant person in my life almost quit because what he said... ...and I almost never started a journey.

01:26:40: it's like my first weekend.. ..And i think back all that time.

01:26:44: if I listened to him where would have went?

01:26:46: Is That Crazy?

01:26:48: Yeah!

01:26:49: When You say something to People you Have To Think The Effect It Has.

01:26:52: when You Listen To People Just because they say it doesn't mean.

01:26:56: It still does, yeah.

01:26:57: Yeah

01:26:57: that's funny.

01:26:57: cuz.

01:26:58: my last question was gonna be if you weren't doing this... If you were in a financial services what would have done?

01:27:04: Well I probably been selling something.

01:27:07: My joke with my wife is when we said when i retired..I was going to open up the restaurant cause'i love cook.

01:27:12: She said yeah but you don't want.... You wanna get up and do all the aggravation I just wanted like cook couple days of week But I would've been selling some thing.

01:27:20: Yeah, can I tell you something that my first is actually funny.

01:27:23: I forgot about this when i First decided was going to leave work on My dad as like I got it being sales?

01:27:27: I don't know anything but sell and Think About a career That could have happened.

01:27:31: that would Have changed my whole direction of life.

01:27:34: I Was into golf my whole Life And I applied for This job.

01:27:38: I saw To be the northeast regional Sales rep For other easy-go Golf Cards Of course.

01:27:45: imagine if I Got that Job.

01:27:46: yeah

01:27:46: best golf cart Salesman in America maybe The world

01:27:50: Yeah, but I probably have a great index.

01:27:52: But i'm sure I wouldn't have all the other things that...

01:27:54: I think life would've been very different for you.

01:27:56: Thank You Mike!

01:27:56: I appreciate your being here.

01:27:57: This has been incredible.

01:27:58: Any parting words?

01:27:59: Any words of wisdom?

01:28:00: No

01:28:00: Here's what will say You talk to, you always wanna think there's a secret sauce.

01:28:06: And what I would say is the things that I've said today or other people are here on your life will read about it's work for them.

01:28:13: It doesn't necessarily mean That its gonna be perfect but take from everybody The things they're great.

01:28:19: figure out how it fits in their lives.

01:28:20: The verbiage of hear people saying like i love What I say?

01:28:23: Doesn't means sound great coming form.

01:28:25: you so Always remember Be yourself first and learn from everybody you meet, good or bad.

01:28:31: And keep working on your self-first investing in yourself and take time for yourself and your family first if you don't have your health.