An interview with Burt White on Where This Industry, and Carson, Are Headed
Carson Group’s Managing Partner and Chief Strategy Officer Burt White recently joined Carson Partner Lawrence Sprung on Larry’s podcast called the Mitlin Money Mindset.
If you are an Advisor in our industry and you want to see where the industry as a whole could be headed, or more specifically, where Carson Group is headed, this is one discussion you don’t want to miss. We’d like to thank Larry for having Burt on his podcast to share his views, which we hope you enjoy.
Burt helps steer Carson’s strategic focus as a member of Carson’s executive board and is a prominent voice and advocate for the independent advisor. Drawing on decades of industry experience, Burt elevates our firm’s opportunities for growth across corporate and investment strategies. He works with Carson’s investment team to build and deliver an investment ecosystem that drives growth for the firm’s 120 partners, who collectively manage over $20 billion in assets.
Here are some highlights from the podcast:
The power of community.
The Carson community is unique in its offering within the financial industry. It could be argued that our Partners are some of the best in the industry, and they are there for each other time and time again. To showcase this, Burt explains it like this.
When Burt was in high school, he was part of a group that would get together called “Young Life.” They did an exercise where you’d divide into three groups. One group rubbed their hands together, the second group snapped, and the third group would pound their thighs. It sounds odd, but when this was done in unison, it sounds like rain. The individual sounds didn’t mean anything. But when done together in harmony, it’s magical.
Burt says, “There is magic in the community. There is magic in diversity. All of these things are what really bring fullness to life.” Community can be family, where you live, where you worship, or where you get inspired. You have the chance to inspire each other, and there’s nothing more important than that. People need to come together, put differences aside, and listen to each other. They need to share their hopes and dreams.
How technology will impact the advisors and help them improve service and planning.
The best part of technology is that it helps make us great. It helps financial advisors reach people in an impactful way. Technology is changing the way we serve each other. Great service isn’t good enough anymore. It has to be personalized and convenient. People want it to reflect their values and create a holistic experience.
20 years ago, financial advisors only helped people achieve financial outcomes. Now, through financial outcomes, financial advisors are helping you live a better life. The profession has been elevated.
Technology is allowing financial advisors to do better planning to drive things like wellness, healthy lifestyles, social and values impact, legacy and family planning, and career advice. The magic is about what the tech enables humans to do. Technology allows financial advisors to scale in a way that allows them to touch more lives.
Why “The new currency is human.”
Airlines track the number of flights, miles flown, gas used in flights, etc. But Burt points out that that’s the wrong metric. How many honeymoons have airlines taken people to? How many families did they reunite? How many grandparents got to see their grandkids? Those are the metrics that matter.
Every industry is starting to measure the metrics around people. Successful businesses are created by their communities. Many companies are focused on growth and profit—but that should be a byproduct. Burt emphasizes that your business should be people-centric.
What dreams were your clients able to accomplish? When Carson Group meets, they talk about the number of households they get to serve. They are redefining the financial industry.
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Advice for Advisors entering the industry.
There has never been a more impactful and exciting time to be a financial advisor. The world is complex and scary. The tax code is complicated. We work hard in our businesses and careers. Life can often feel like the more you have, the more you have to lose. But when you have a financial advisor, they can help you change that mindset.
The more you have, the more you have to love. The more you have to enjoy. The more people you can bless. Understand the impact that you can have on people’s lives and help them see that. Your job isn’t to choose what stock is best but to help your clients figure out how to live their best life.
Please be sure to listen to the whole podcast below and subscribe to Larry’s Mitlin Money Mindset.
https://mitlinmoneymindset.libsyn.com/the-new-currency-is-human-episode-125
If there is a specific part of the discussion you’d like to listen to, here’s a nice breakdown of the subjects.
- Learn more about Burt White and what led him to Carson Group [3:31]
- Why Burt came out of retirement to join the Carson movement [5:23]
- Why Burt is passionate about the RIA model [8:41]
- How Burt uses an exercise to demonstrate the power of community [11:33]
- How technology will help advisors improve service and planning [16:25]
- Why Burt believes “The new currency is human” [22:25]
- What Burt wishes the average retail investor knew [26:21]
- Burt’s advice for advisors just entering the industry [29:42]
- What Carson Group’s “Find Your Freedom” means for Burt [35:07]
- What Burt did today that put him in the right mindset for success [37:27]
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