In this episode of the Modern Financial Advisor Podcast, host Mike Langford chats with Terry Mullen, Chief Revenue Officer of Fispoke, about how financial advisors can now offer comprehensive banking services to their clients.

Once exclusive to wirehouse advisors, these services are now accessible to RIAs and independent financial advisors, thanks to new technology and banking arrangements. Mike and Terry discuss the evolution of financial advice, the immense market potential, and the transformative power of integrating banking solutions for financial advisory businesses.

Learn about how Fispoke is bridging this gap, the opportunities for growth, and the future of comprehensive financial planning. Don't miss out on this insightful conversation that could change the way you offer financial advice!

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Resources Mentioned In This Episode:

How Financial Advisors Can Help Clients Navigate The Black Box of Healthcare Costs - Mike mentioned the parallels between the work that Drew Schockley and the team at Move Health are doing for financial advisors and their clients on the health insurance landscape. Like banking, every client is going to have health care needs. As a financial advisor, you should be offering sound advice on areas like these that affect your clients’ financial lives in significant ways.
Episode 1 - The Truelytics Origin Story with Terry Mullen - As Mike mentioned in this episode, Terry Mullen was the first ever guest on the podcast back when it was actually called The Valuations Podcast. Jump in the time machine and give it a listen.

Chapters

00:00 Introduction and Episode Overview

01:26 Guest Introduction: Terry Mullen

01:36 The Evolution of Financial Advisory Services

02:52 The Next Wave: Comprehensive Banking Services

03:38 Identifying the Problem and Market Opportunity

05:28 Fispoke's Integrated Banking Solutions

10:45 Growth Opportunities for Financial Advisors

17:17 Future Prospects and Closing Thoughts

19:09 The Impact of Healthcare on Job Mobility

19:50 Breakaway Advisors and Wirehouse Firms

20:53 Fispoke's Integration with Independent Broker-Dealers

21:45 The Role of Technology in Financial Advisory

23:45 The Future of Banking Advisors

28:48 Fispoke's Banking Partnerships

29:50 Technology Integration with Advisor's Tech Stack

32:55 The Benefits of Smaller Banks

34:09 Conclusion and Contact Information

Episode 5 - Jim DeCarlo of StratWealth on the importance of culture for wealth management firms

Modern Financial Advisor