Did you know that 65% to 68% of American’s surveyed* do not believe that financial advisors will put the client’s interests ahead of their interests or those of the company they work for?
It’s a terrible commentary on the skeptical place historical bad practices in the financial planning industry have taken us. How does a financial firm overcome that kind of negativity? By always putting the client first, not only in word but in deeds as well.
Ron Carson, CFP®, CEO of The Carson Group has been spearheading that kind of change in the industry for years. His firm is known for its ability to put the client first and deliver on that promise. During this conversation, Ron and I talk about how he started his path toward financial advising right out of High School, the many lessons he’s learned while building The Carson Group, why company culture has to be right to fuel Carson’s “customer first” promise, and how Carson is expanding by forming relationships with “Partner” firms like Mitlin Financial.
You will want to hear this episode if you are interested in…
- Introducing Ron Carson CFP® and Carson Wealth [1:18]
- From farming roots to financial advising, to RIA and CEO [2:25]
- Lessons learned building the Carson Group [8:38]
- Ron’s description of the culture at The Carson Group [11:30]
- What does it mean to put the client first? [20:10]
- The right relationships make for great Carson partner firms [26:51]
- Why Carson is more than competent with investing for your future [34:26]
- Living in the moment to help friends, family, and meaning and purpose [36:24]
The farm kid who became one of Forbes’ top Financial Advisors in America
Ron Carson grew up on a farm just north of Omaha, Nebraska. He expected that he would become a farmer and was happy with that prospect. But in 1982 interest rates topped out at 21.5% and farming was tough. His parents went broke and Ron had to find a way to fend for himself instead of taking over the family farm someday. He read an article in “Money” magazine during High School study hall that predicted that Financial Advising would be one of the highest-paid professions in the future. He decided then and there that he would make advising his vocation.
He attended the University of Nebraska the next fall and immediately started a business part-time out of his dorm room as he was studying for his CFP® (Certified Financial Planner) license. Years later he met a woman in Napa Valley who asked how he got into Financial Planning, so he told her that story. She smiled and revealed to him that she was the author of that article. Ron’s journey has had its twists and turns but all along he’s pushed forward to build a successful company that truly cares for its clients. Listen to hear more of Ron’s story and the story of The Carson Group.
Building a top financial advisement firm, you learn a few things
As Ron was coming up in the financial industry, he describes himself as “unconsciously incompetent.” He didn’t know what he was doing, but he didn’t know that he didn’t know. He received lots of training but the industry itself was terribly confusing at that time. He found himself becoming very skeptical because of the scams and schemes he’d seen. That’s when he discovered the role of the RIA in 1984 (Registered Investment Advisor). It’s in that role that he learned to put clients first and do business at a higher level.
Ron mentions three clear lessons he’s learned:
1) Nothing worthwhile is easy.
2) You should hire the best people you can find and get out of their way.
3) Culture is everything.
Applying those guidelines to everything he does, Ron’s firm has become one that routinely undercharges and over-delivers. Listen to learn why The Carson Group is a leader in the industry.
Culture at The Carson Group: How do we better serve those we serve?
The company culture prevalent at The Carson Group is what fuels all of their success. From their “Client Bill of Rights” at the customer entrance to the sign over the door where team members enter that says, “Work hard. Have Fun. Give it your best” you can feel the emphasis the company puts on the team giving great service to clients.
Recently, Ron introduced a twist on the typical annual goal-setting process within companies. His teams were tasked with creating their goals as usual, but then Ron had them share their goals and write down specific ways each of them could help OTHERS on the team meet their goals. The cohesive and synergistic way internal stakeholders work together and resource each other is one of the big reasons Mitlin Financial was so drawn to becoming part of The Carson Group as a Partner firm.
Take the time to listen to this episode and you’ll hear exactly what a Partner firm is, what that means for the service and stability of Mitlin Financial, and why we’ll be able to do even more for our customers in the future as a result of this partnership.
Resources & People Mentioned
Connect with Ron Carson
Ron Carson CFP® is founder and CEO of Inc. 5000 firm Carson Group, a Barron’s Hall-of-Fame wealth advisor, one of Forbes’ top wealth advisors in America, radio talk show host and New York Times bestselling author.
Throughout his 37-year career as a financial advisor and industry icon, Ron has always believed in fulfilling a deep-seated purpose to be the most trusted for financial advice – to provide families and individuals with straightforward guidance and full transparency when it comes to planning their financial future. This mission – and Ron’s own success as one of the most celebrated and respected independent advisors in the country – has attracted the attention of thousands of advisors hungry for a recipe for success in improving their own businesses and better serving their clients.
Connect With Mitlin Financial
- podcast(at)MitlinFinancial.com – email us with your suggestions for topics or guests
- Follow on Twitter
- Follow on Instagram
- Subscribe on Youtube
- Follow on Linkedin
- Follow on Facebook
Guests on the Mitlin Money Mindset Show are not affiliated with CWM, LLC, and opinions expressed herein may not be representative CWM, LLC. CWM, LLC is not responsible for the guest’s content linked on this site.