Mark Willis, CFP® is a man on a mission to help you think diﬀerently about your money, your economy and your future. Mark is a CERTIFIED FINANCIAL PLANNER™, a three-time #1 Best Selling Author and the owner of Lake Growth Financial Services, a ﬁnancial ﬁrm in Chicago, Illinois. As co-host of the Not Your Average Financial Podcast™, he shares some of his strategies for investing in real estate, paying for college without going broke, and creating an income in retirement you will not outlive. Mark works with people who want to grow their wealth in ways that are safe and predictable, to become their own source of ﬁnancing, and create tax-free income in retirement.
On episode 136 of the Model FA Podcast David and Mark emphasize the importance of treating oneself as a key investment and examine the one-size-fits-all approach of recommending generic investment options like target date funds to entrepreneurs. They discuss the pitfalls of “shiny object syndrome” as Mark introduces the idea of “iki-gai,” a Japanese concept for finding one’s reason for being, as a tool to align passion, skill, and market demand. David contributed his three-point methodology for choosing a target market, which includes profit, passion, and optional natural affiliation. They also discussed the structural aspects of Mark’s firm, Lake Growth, explaining the in-house and “out-house” tracks for advisors who want to plug into the firm’s platform or run their own business. Mark highlighted that focus and attention are more valuable currencies than money, cautioning against distractions that could pull one away from their core mission.
“Conflict at its root is just unexpressed expectation. So go deep before you get into proposing and strategies and recommendations, figure out what their expectations are.” – Mark Willis
This week on The Model FA Podcast:
Our Favorite Quotes:
“Guesting on someone else’s show is brain dead simple, because you just get on and you have a conversation with someone who loves to chat with you, and you hopefully enjoy chatting with him. The power there is, you’re getting in front of your target audience, you’re having a one on one long form discussion with people who might just do business with you.” – Mark Willis
“The thing that stuck with me is conflict, when handled directly, and sprinkled with some grace – can ultimately build relationships. So if there is something that goes wrong, own it, be graceful about it. And oftentimes those can be your biggest referrers. “ – David DeCelle
“You probably are going to be working with busy professionals. And so be kind to them, by giving them some content that they can consume, on their own schedule.” – Mark Willis
Connect with Mark:
Learn More About YCharts
This episode is sponsored by our friends at YCharts. Exciting times at YCharts — they just announced their latest product enhancement called Proposals. YCharts Proposals is a game-changing capability, empowering wealth management professionals with the prowess to craft captivating narratives, effectively conveying their investment strategies that help win new business. But that’s not all – mark your calendars for September 22nd because YCharts will be hosting a webinar to unveil Proposals and show off its full potential. You’ll learn how to whip up reports that don’t just highlight the value of your investment strategies but also cater to your clients’ unique financial needs. Click the this link to register for YCharts’ webinar if you want to learn more about Proposals, and get 15% off your initial subscription when you start your free YCharts trial (new customers only). https://ycharts.zoom.us/webinar/register/5916933495668/WN_OD3x5xyzQ7qWTrtGDChLFA
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.
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President of Model FA, David DeCelle
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