Financial advising with a

EP 102 | How Financial Advisors Can Venture to Other Industries with Jeremy Straub

08.17.22 | 0 Market Scale Uncategorized

Jeremy Straub is the Founder and CEO of Coastal Wealth, a financial services firm that helps clients financially prepare for different stages of life. With over two decades of experience in executive roles in Fortune 500 companies, Jeremy is regarded as a thought leader in the financial services industry. Under Jeremy’s leadership, Coastal Wealth has worked with over 100,000 clients with over $15 billion in assets serviced. In addition to his work at Coastal Wealth, Jeremy owns nine different businesses across five industries that employ over 1,500 people and generate over $100 million in revenue annually. 

Jeremy joins me today to discuss how financial advisors can diversify their businesses and expand to other markets and industries. He outlines the industries he’s involved with and how he balances his time between them. He offers advice on what to consider when forming joint ventures. Jeremy also underscores why individuals need to know themselves as financial advisors and highlights how having a condensed work week can help employees and the company. 

 

“Finding opportunities that might be in line with or compliment your existing business is a better way to decide for new business ventures.” - Jeremy Straub

 

This week on The Model FA Podcast: 

        Jeremy’s background and his road to starting his own venture

        The many businesses and industries Jeremy’s involved in

        How Jeremy manages his time and expertise between different markets

        The value of finding the right talent and putting them into the right roles

        The fundamentals of diversifying and seeking new business ventures

        Mergers and acquisitions in the financial services industry

        Transitioning from financial advisor to business owner

        The 90-day sprint and 4-day work week methodology

 

Resources Mentioned: 

        Book: Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork by Dan Sullivan

        Book: Good to Great: Why Some Companies Make the Leap…And Others Don’t by Jim Collins

        Book: Traction: Get a Grip on Your Business by Gino Wickman

        Book: The 12 Week Year: Get More Done in 12 Weeks than Others Do in 12 Months by Brian Moran and Michael Lennington

        Book: Mastery: The Keys to Success and Long-Term Fulfillment by George Leonard

 

Our Favorite Quotes: 

        “If you’re reliant on your financial planning practice and invest in a business you know nothing about, you’re in a precarious position. Expand your base first before venturing out into industries that you don't have experience in.” - David Decelle

        “When you’re trying to enter new ventures, don’t worry about how you’re going to do it but who’s going to help you do it.” - David DeCelle

        “Don’t reinvent the wheel, but figure out how to make it go faster.” - Jeremy Straub

 

Connect with Jeremy Straub: 

        Coastal Wealth

        Podcast: Upreneur

        Coastal Wealth on LinkedIn

        Coastal Wealth on Facebook

        Coastal Wealth on Twitter

        Jeremy Straub on LinkedIn

 

About the Model FA Podcast 

The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes  to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams. 

Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. 

Our Team:

President of Model FA, David DeCelle 

 

If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

 

FULL TRANSCRIPT