Sept. 5, 2023

Comprehensive Wealth Management Made Simple with Dave Alison

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Season 1

Episode 010: People seeking wealth management advice want clarity, not confusion. As individuals seek sound advice to navigate the intricate landscape of their financial futures, the focus is no longer on bombarding them with jargon or overwhelming them with exhaustive financial plan reports. Instead, it is forging a connection, understanding individual aspirations, and simplifying the process of achieving their financial goals.

In this episode of Connected, Kyle is joined by Dave Alison, Founding Partner and President of C2P Enterprises and the Founder and CEO of Alison Wealth Management. Dave shares his journey into the wealth management industry and discusses the importance of differentiation when recruiting advisors. He highlights the 'three uniques' of C2P — the holistic approach to advising, the tax trilogy, and the advisor career path. 

Dave also dives into the bucket plan, a simplified approach to holistic financial planning, and how C2P has elevated it with a four-step process. The conversation concludes with a discussion on the virtual nature of the business and the success of serving clients remotely.


Join us as we discuss:

[01:34] - How Dave got started in the wealth management industry.

[07:20] - The 'three uniques' that C2P utilizes to attract experienced advisors.

[13:48] - How advisors can effectively manage a growing business.

[16:25] - The three ways to incorporate tax preparation into a wealth management business.

[20:46] - How C2P simplifies holistic financial planning.

[24:27] - The five core pillars of holistic wealth management.

[26:50] - The bucket plan and its four-step process.

[34:24] - The secret sauce to high growth in the financial industry.

[36:16] - How virtual meetings helped Dave build a successful financial planning practice.

[40:58] - Dave's approach to managing high-concentrated taxes.

[45:50] - What it's like to teach young people about economics.

[48:54] - Dave's best fishing story.


Key Takeaways

  • Advisors should align with a firm that offers a value proposition that resonates with their goals and clients.
  • The 'three uniques' of C2P Enterprises are the holistic approach to advising, the tax trilogy, and the advisor career path.
  • The bucket plan provides a simple and understandable framework for clients to organize their assets based on time horizons.
  • Tax preparation services can be offered through building, borrowing, or buying a tax business.
  • Customization is key in wealth management, tailoring strategies and solutions to individual client needs.


Quotes

"For an advisor, if they're looking for a true home and a true partner, it's all about alignment. At the end of the day, you have to align with the firm that can do things you want to do and provide the resources you need for your clients and your business." ~ Dave Alison

"The wealth management business is continuing to become more and more competitive and more and more commoditized. And advisors need to have a strong value proposition to remain relevant and stay ahead." ~ Dave Alison

"When we're sitting down with clients, the more jargon we use and the more 200-page financial plan reports we use, the more confused the consumer is. Simplicity is the ultimate sophistication." ~ Dave Alison


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