May 28, 2024

A Nine-Step System for Managing Money and Building Wealth with Brian Preston

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Season 1

Episode 045: In this episode of The Connected Advisor, Kyle is joined by Brian Preston, Managing Partner at Abound Wealth Management and the Founder and Host of The Money Guy Show. Brian is a third-generation educator, and this desire to create educated clients led to the award-winning YouTube channel and podcast, The Money Guy Show. The Money Guy Show has been broadcasting for more than 15 years, and Brian has appeared on the Fox Business Channel and US News.

Brian talks with Kyle about his book, Millionaire Mission, and discusses the financial order of operations, a nine-step system for managing money and building transformative wealth. An award-winning content creator and managing partner of a fast-growing RIA in Tennessee, Brian also shares the secrets to creating great content and the key to building wealth.

In this episode:

  • [02:31] - Brian's money moment.
  • [06:52] - Brian's early years of creating content.
  • [07:44] - The secret to success in content creation.
  • [10:07] - Brian's inspiration for writing Millionaire Mission.
  • [12:50] - A 9-step system for managing money and building wealth.
  • [16:59] - The three key ingredients to wealth creation.
  • [18:10] - Brian's favorite step in the financial order of operations.
  • [19:47] - The difference between creating digital content and writing a book.
  • [22:00] - Other features the Millionaire Mission has to offer.
  • [25:09] - What it takes to manage a fast-growing firm.
  • [28:46] - Challenges and considerations when adopting new technology.
  • [30:59] - The future of the financial planning industry.
  • [34:45] - How Brian complies with regulations in his social media content.
  • [37:36] - Milemarker minute: the period Brian wants to go back to, hardback book vs. Kindle, and favorite football player.


Key Takeaways

  • The Financial Order of Operations is a nine-step system for managing money and building wealth.
  • Discipline, money, and time are the three key ingredients to wealth creation. It is important to develop the discipline to save and live below your means, put your money to work through investments, and give it time to grow.
  • Building a successful advisory firm requires a long-term mindset and a focus on providing value to clients. Invest in technology and systems that will support the growth of the firm and stay up-to-date with industry trends.


Quotes

"Anytime I meet a young person, I try to tell them about the wonderful world of personal finance. I think this is the greatest profession. You can make a great living for your family and employees. You also go to sleep at night, knowing you added a lot of value to everybody." ~ Brian Preston

"There's a new breed of influencers and people out there in the financial space who are telling you that financial advisors are not what you need. So, you better make sure that you can tell people what and how you add value, and then you also need to make sure you're doing the things that you're telling people." ~ Brian Preston


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