Optimized Advisor Podcast

Scaling with Purpose: Culture, Delegation, and the Entrepreneurial Advisor with David Steele

Episode Summary

In this conversation, David Steele shares his journey from being a stockbroker to a successful wealth manager and entrepreneur. He discusses the importance of value in financial advisory, the transition to fee-based financial planning, and the power of partnership in business. David also reflects on his experiences in the restaurant industry, particularly during COVID-19, and emphasizes the significance of maintaining culture while scaling businesses. He offers insights on health, wellness, and work-life balance, and provides valuable advice for aspiring financial advisors.

Episode Notes

• All financial advisors are entrepreneurs, whether they know it or not.
• Transitioning from commission-based to fee-based planning is crucial for adding value.
• The restaurant business can be seen as an art form, requiring creativity and passion.
• COVID-19 presented unique challenges but also opportunities for profitability in restaurants.
• Maintaining a strong company culture is essential when scaling a business.
• Delegation is key to managing multiple businesses effectively.
• Your calendar reflects your priorities; make time for what matters.
• A clear value proposition is vital for financial advisors.
• Building relationships is more important than digital presence.
• Success in business often comes from promoting from within rather than hiring externally.