Financial Wellness ROI & AI Coaching | Retireholics Live

[0:00] John Sullivan: But now it's good. It's the first relatively good tasting non alcoholic beer. It actually. It's pretty good. It's better. I like it better than, you know, alcohol fueled Heineken, to be honest with you. [0:12] Speaker B: Oh really? [0:12] Speaker C: I could believe that because I really don't like Heineken. So I would imagine they're non alcoholics. [0:18] John Sullivan: Actually. [0:18] Speaker C: Better. [0:19] John Sullivan: It is. Yeah. [0:20] Speaker C: I'll have to give it a shot. [0:21] John Sullivan: It was always skunked. It was. I think it was the green bottle. Something about the green bottle always made it just. [0:28] Speaker C: You guys all heard that, right? The brown bottle is there to protect it from the UV light. [0:33] Chad: Yeah, yeah. Mark brought these over. The Corona premieres. [0:38] JD: Oh, cheers, Chad. [0:40] Chad: See, I got a premiere though. Jd I don't know what that means, but these are probably Brandon's got it. These are some of my favorites. Now I'm in the same over as my casual drinking beer. [0:50] JD: I'm in the same fun family. We can still cheers. [0:53] Chad: That's true. Drinking from the same Kool Aid. [0:56] John Sullivan: Yes, Shannon. I'm drinking non alcoholic beer and it's a lot of fun. [1:01] Chad: Yes, Josh, he did bring Smirnoff Ice to my house. It's still sitting in the fridge out there. No, I did not bring it to your house. What's up, Greg? [1:11] JD: What up, Greg? [1:13] Chad: I like there's a couple really dedicated folks on the east coast that jump on some chat. Some don't because I think the others might be asleep by the time we get. We get going live there. I would, I would be just. [1:27] Speaker B: Just so we're aware, driving right now. [1:31] JD: Okay. [1:32] John Sullivan: Fully support it. [1:32] Chad: Anyone see Aaron's comment? No, he's driving. Just so you know, instead of drinking as a penalty, maybe John needs to slap himself. Yes. [1:46] JD: Or is there anyone else? [1:47] Speaker C: Everybody in the chat. Follow PCH on Twitter. [1:50] JD: Please Twitter follow him on Insta. Bro. It's like highlight of my day most of the time, [1:57] Jake: Aaron. [1:58] Chad: I like that idea. John might be in pain by the time this is all done. [2:02] Speaker G: Yeah. [2:04] Chad: Especially if the word is fantastic. [2:06] John Sullivan: Yeah, I know, right? Do everything I can to avoid it, but it's just a crutch. So you guys missed something. [2:14] Chad: What's up, Jeremy? [2:16] JD: Yeah, let's see how many people bail us at 10 minutes before the show's over for NFL. We're just gonna have this huge slot. You guys are leaving. Fine. Yeah, fuck you guys. [2:26] Chad: You don't need us. I'm just gonna stream it. [2:31] JD: Oh, Greg, we got some orange sky out here, buddy. [2:34] Chad: There's plenty of nasty. [2:35] JD: Greg, it looks Trippy outside it is. [2:38] Chad: Normally I have to deal with light coming in the back window. No worries on light today. It's bad like rain up here. That's all it is. [2:46] JD: All right, Brandon's getting started. Here we go. Hey, what's up, everybody? Welcome to another episode of Retireholics. Yes. Still sheltering in place. We have got a. We got a co host with us today. I'm not, I'm not calling you a special guest, John. You're just a co host. You're one of the boys, you're one of the guys. You're going to run this show with us. We got the fantastically fantastic, the one and only editor in chief, John Sullivan of 401 Specialist magazine. Thanks for being our co host today, buddy. [3:48] John Sullivan: Thanks for having me. This is a dream come true, to be honest with you. It's bucket list, top of the list. So this is going to be great. [3:55] JD: It's exactly why you're here because that was total bullshit. Any minute I thanked him by sending him 36 Heineken 0.0. So he's got them displayed in front of him and behind him. So yeah, thank you. Yes. That's what you get for joining the show. [4:14] John Sullivan: Parting gifts. It's great. [4:16] JD: Everybody that's listening in right now. If you would like to see the Retireholics on the COVID of 401K Specialist magazine, email John maybe once every day, maybe twice every day. His email is. I don't know what his email is, but you can find it out there. His cell phone number is 878. He likes getting texts in the middle of the night. We need all of your help. Just keep reminding John on the daily that we should be on the COVID of that magazine and we'd really appreciate the these supports. Today's gonna be a fun show. We are going to try something new. We're gonna use your latest edition of the magazine, issue three, I believe it is for 2020. Kind of use it as the basis for our show here today. We've got three mystery guests that will join us throughout the show and discuss different articles within this new edition. And, and before we do that, I do want to tell you, John, that and everyone listening in. I firmly believe that when a new magazine, I forget, oh, there's a Z. Thanks, Justin. [5:29] Chad: Welcome. [5:31] JD: I mean this. When a new edition comes out, I read it front to back and I get excited as a 401k pro to see what topics you guys are all discussing and highlighting. Who's got what to say, who's and I really come away from it motivated, inspired, feeling educated, have ideas. So I would encourage any advisor out there to do just the same. You guys put out a great mag. It's a good supplement to anyone's business. So thanks for doing it and continue to do good work. Dude. [6:03] John Sullivan: Yeah, no, thank you. I really appreciate that, J.D. that's really nice of you to say. [6:09] JD: That's good stuff. [6:10] John Sullivan: Getting a stamp of approval from retireaholics. [6:12] Chad: John, I had a conversation recently with an advisor who was asking, where should I find information? What should I be reading? And it was pretty easy for me to say, you need to get on the magazine. Good job, Marvis. Squeeze that one in. What I like best, at least lately, it seems like every person you have writing is an authority on the topic they're writing on. And so you're literally hearing the thoughts of the best of the best in our space. It's pretty cool to have access to those folks on our show. [6:45] JD: Kush says by far the best industry mag. Oh, hey, that's pretty cool. [6:50] John Sullivan: Yeah, that's great. No, thank you. [6:52] JD: Before we get started, let's do a little housekeeping. Housekeeping. Brandon, have my little video. I love the video. It's going to be a shit show today, so just so you know. There we go. [7:02] Chad: Housekeeping. [7:03] John Sullivan: No, thank you. [7:04] JD: Sleeping. All right. Make sure you're in gallery view. That's the best way to do this sucker. So you can see everybody. You know, I love the chat bar. You know, I love the chat bar. So make that thing bigger so you can see it. Plop it right over Mark's face or Justin's face. And. And. And play along for the champion of. What's it called? Cbc. CBC Champion. Chat Bar Champion. Thanks, Mark. [7:30] Chad: Really, it's really not that hard. [7:32] JD: And you can win. How do you win? You do the coolest, the funniest, the most intelligent, the most creative chats. And we will all vote at the end of the show. So, John, you'll have a vote. So try to keep your eyes on that. That chat bar word of the episode today will be financial. So if you say the word that I just said or any iteration of it, you must drink from your penalty drink. John will be slapping himself in the face, apparently, is what we heard. I don't know. Something like that. [8:05] John Sullivan: I would drink all of these, every single one that you sent before we exit this show. [8:10] JD: So I'm not comfortable with that. I'm not comfortable with that at all. And you'll have to do, like, four or five bathroom breaks being the old man that you are. [8:20] John Sullivan: Binge and purge, buddy. Binge and purge. [8:25] JD: So, like I said, everyone bear with me today. I've got three guests. I've got another host. I've got tons of topics. It's going to be a train wreck, but we'll have some fun as we do it. Okay, let's kick it off Thursday. Brandon, if you can, find our first mystery guests out there and bring them along. Although this John's going to. I'm going to tell everyone. John, guest, Two out of the three right out of the gates. [8:50] John Sullivan: Could you? Before we do that, though, I just have to say one thing. I don't mean to step on your lines here, J.D. but do you mind if I'm co host? [8:56] Chad: So I guess I can co host. [8:59] John Sullivan: So, as everybody knows, next week, Excel 401K, the advisors conference, it's a digital conference, starts up and runs through November. But for those of you who know, we have kind of a tradition where their entire Holics crew just completely pranks us really, really hard at this show, and they're not able to do it this year. So I honest think that this entire setup is just one big prank, and I'm somehow going to get rolled. Somehow. [9:29] Chad: That would have been great, right? [9:31] JD: That would have been such a good idea. [9:33] Chad: And instead, we're saving it for your actual time on Excel. So wait till you're live, bud. [9:39] John Sullivan: I shouldn't have said anything, right? [9:41] JD: Okay, we couldn't hear you, Brandon, but [9:44] Speaker C: I'm pretty sure I was saying, he's so much smarter than us. I had no idea. I didn't even think about that. Who's our first guest, JD first guest [9:53] JD: is Liz Davidson, Financial Finesse. Your cover. Your cover individual. The person on the COVID of the magazine. She founded this really. There. Here she comes. Financial Wellness Tool Company. How was it interviewing her getting those snazzy little photographs on the beach? Did you enjoy the process, John? [10:17] John Sullivan: Yeah, I really did. We've been hounding poor Liz for quite a while. She's been obviously a financial wellness pioneer, somebody who is central to the space and driving innovation. And so I know I'm using a lot of buzzwords, but it's absolutely true. There she is. [10:31] JD: Yeah, she is. [10:33] Chad: All right, Liz, was I one of [10:36] Speaker H: the ones you guessed? [10:38] JD: What's that? [10:39] John Sullivan: I was one of the ones. Yes. [10:42] JD: Yeah, you were. [10:43] Speaker H: This is less of a surprise than anticipated. [10:45] Chad: You were on the COVID so you had to guess, right? [10:49] JD: John knows. John knows me. He knows I'm going to go right for the COVID story. So he knew. [10:53] John Sullivan: He goes big. He goes really big. [10:55] JD: Let me ask you, Liz, how was it? I'm looking at one of the photos right now. My other monitor here. How comfortable were you with all these modeling shots you had to do on the beach? [11:05] Speaker H: Because I hate, you know, I can't complain. This is not how I look in real life. But, you know, it's an upgrade, [11:14] JD: I think. You look. You look on zoom. Yeah. All right, let's dive right into it because I got a lot of stuff to cover today. Financial wellness, and specifically financial finesse. [11:27] Speaker B: Oh, that's like five, dude. [11:29] Chad: Oh, yeah, I was gonna say. [11:32] JD: I'll get to those. I'll get to those. What is the original problem? What are you attempting to fix? Okay. Help the audience understand why you're doing what it is that you're doing. [11:49] Speaker H: Are you talking to me? [11:50] JD: I am talking to you, Liz. You're my special guest. [11:53] Speaker H: Because we are attempting to fix the problem that people have with managing their money effectively so that they can ultimately become secure from a money perspective. [12:09] Speaker B: Good use of the word money. [12:11] JD: Yeah, sure. Money's good. Money's good. When you're, when you're doing this, you're doing it from an employer perspective. You're trying to get employers to buy in to the concept as opposed to just. Yes, okay. And then. [12:26] Chad: Yeah. [12:27] JD: What's the actual medium itself? Is it email? Is it an app with notifications? Is it both? Like, how does. How do all this education, these tools, this guidance, this pathway, how does it get to the participants? [12:43] Speaker H: So it's an employee money benefit. This is really hard. But it rolled out. The service is rolled out as an employee benefit and, you know, subsidized completely by the employer. Typically, it's unlimited financial coaching delivered digitally as well as via chat, text, email, and phone based, as well as workshops, you know, back when that was a thing. And webcasts, which we're doing a lot of these days, so. So it's a multi channel approach designed to be as personalized as possible to help people with their money issues progress from money crisis to security. [13:33] JD: And you've been doing this a long time. This isn't new for you, right? So it was like 1999. [13:43] Speaker H: Who said financial? [13:45] JD: Oh, you just did. I don't have a button for our [13:49] Speaker B: guest, so I just pushed John. [13:52] Chad: Oh, yeah. Think about the gas button. I don't know what to do. [13:56] JD: You've been doing this a long time. Can you, can you give me a little perspective on what's changed with wellness? Because. Right. You've been Doing this sucker for like 20 years. So I gotta imagine lot has evolved. What are some of the biggest things you see evolve that you think are cool or super effective? [14:17] Speaker H: Well, I think that the biggest thing is this is actually a benefit now that companies provide on an ongoing basis. We've moved from back in 99. The number one thing we did was teach employees. I mean, we're in San Francisco. Teach employees about stock options because their investment bank said, hey, you know, they probably need to know a little bit about this before you go public. So it's a very event driven service. And then, you know, of course there was the crash, and then we were doing education around layoffs and things like that. Now it's not an event. It's evergreen. It really is an ongoing benefit that companies are investing large amounts of money in, especially large companies and rolling out as it's a standalone benefit. They're plugging it into wellness initiatives and programs. But it is also, you know, on the menu of benefits we provide along with your retirement plan and other financial benefits. [15:15] JD: I think that is a trip that you were doing it back then. Oh, yes. They got you, Liz. [15:24] Speaker B: That was like your last word. [15:27] Speaker H: I know. [15:28] Speaker G: Yeah. [15:28] Speaker H: I was trying so hard. [15:29] John Sullivan: Can I ask a quick question here? [15:32] JD: Yeah, go. [15:34] Chad: No joking. [15:36] John Sullivan: Hey, Liz, when you first started out, what was the definition or what did people believe financial wellness was? Just talk about some of the things that they were requesting. Oh, yeah, we've got financial wellness, [15:53] Speaker H: So. God, how do I address this without. Did I just. Okay, whatever. [15:59] John Sullivan: Let's go for it. Jump in. [16:02] Chad: Yeah, you can put some in the bank. That's what our guest did last week. [16:05] Speaker H: This is my heavy stuff. It's chardonnay. [16:07] JD: Oh, good for you. [16:08] Speaker H: Heaviest stuff I have. [16:09] JD: Okay. I was just about to rip on you for only drinking beer. You got a penalty drink. All right. [16:14] Speaker H: Yeah. Hard on the shard. So now I'm forgetting the question. [16:20] Chad: It doesn't matter. [16:20] JD: How did you define wellness back in the day? [16:23] Speaker H: We actually defined it as financial. [16:28] JD: She's just over education. [16:30] Speaker H: Education. But that wasn't even really a thing. So it was. And John and I talked about this when we did our interview. It really. You would say financial education to a company and. And then you would have to explain why that was important. You know, think of 99 calling on.com firms saying your employees really need guidance with their finances. That doesn't count. Right, Their finances. And they're, you know, they have a huge amount in stock options. These companies are paying insane salaries. Everyone's doing great. You Know, my, my employees don't need this. So, you know, obviously we've had multiple changes from 99 to now, and I think what has become very obvious is just how much people need this. [17:29] JD: Were you behind this coronavirus? Did you play a hand in this pandemic to boost your business? Because I would think people are really focused on this stuff now. Mark has never been a fan of the F word wellness. He always rips on it. And I think his biggest gripe has always been that he doesn't think that there's adoption, right? Like, that's fine. You can go to the employer, you can push out all these cool emails and offer a chat bar and do all this stuff, but no one's actually gonna, gonna engage with you and use it. Prove Mark wrong. Talk to us. Are people using this? Yes. [18:08] Speaker B: Sort of defend myself to that point. JD is right, but I'm not over here trying to be the super negative guy. I'm just stating some, some information that I see out there and what my thought is, yeah, adoption is one thing, but it's. It's a flooded marketplace with too many options, right? Too many bells and whistles that all seem the same, offered by different people with different names, different fancy words, fun marketing that just doesn't seem, seem to move the needle and doesn't seem to do much for anybody. It's just something that you can check a box to say, we have it, and then it looks good. In a point of sale, maybe. But then to JD's point now, moving forward, it just doesn't seem like it's utilized. [18:59] John Sullivan: It's time to introduce him to Amy. [19:01] JD: I want to talk about Amy. I want to talk about Amy for sure. But. But first answer, Mark, and that's like, what kind of engagement are you getting? And who's signing up for this stuff? [19:12] Speaker H: All right, I'm gonna be moving on to the Chardonnay pretty quickly because there's just no way to do this without. So financial wellness. [19:22] JD: You can save them up. [19:24] Chad: You can save them up, count them for you. [19:26] JD: That'll be a little easier. [19:28] Speaker H: So we need to better define what it is. And when you go by the definition of what we believe it should be, which is driving behavioral change, it's delivered from an unbiased resource, and it's delivered starting with the person and the person's financial issues in a very personalized way, and then backfilling. And so it's making sure people have what they need and they care about to advance their finances and their, I don't know. Finances is it, but finances in their lives. And it integrates all their benefits. And so, you know, a couple of things. When employer is paying a lot of money for this from a completely unbiased resource, and that resource is integrating all of their benefits. And it is. It is in and of itself a benefit that's being promoted. It's connected to the wellness program, which is incentivizing people. People get paid to take an assessment or make a phone call to a financial coach. You layer all these things together. [20:33] JD: You're good, you're good, you're good. [20:34] Speaker H: Okay, I'll kick you. [20:35] JD: Keep going. [20:35] Speaker H: I'm a rule follower, clearly, when it comes to this. But you layer all these things together and you ultimately create a culture of wellness within the organization when instead it is. And I heard mention of the F word being fidelity in the chat box. When instead it is delivered by a firm as kind of a Trojan horse to sell financial products and services, I think it is ineffective, and it does have, you know, limited engagement, a lot of cynicism. And we're right now in a battle for the soul of financial wellness to be about the participant, the participants needs, not the financial services sales. [21:18] JD: Well said. Well said. [21:19] Speaker H: Okay, how many do I have to drink now? [21:21] Chad: I have no idea. [21:21] JD: It's got to be like 4. I would chug like a quarter of that Chardonnay. I think that was really well said, and I think that's a good takeaway for the audience and for us. Which is what you basically said was you need engagement, right? You got to have the employer being part of it. You've got to incentivize the employees to want to be a part of it. You got to build this big hoopla on the whole thing. I get that. [21:46] Speaker H: Employee in their life, not about asset [21:49] JD: allocation, but you live, breathe, and sleep this stuff every day. So I really want to ask you, is that. Are you just explaining to me kind of a utopian client situation for yourself, or give me the real deal. Give me the real dirt. Do you have clients where you put this in place and it goes nowhere? Do you struggle with that? What does the average client look like? Are. What is the average participant like? Are people using this thing? Or is Mark full of shit? Or is Mark correct? Mark is full of shit, but it's correct. [22:19] Speaker H: Well, here's really an interesting fact is, you know, because clients ask this all the time. What. What correlates most with usage? The. I mean, this is very, very bluntly. The more they pay for the benefit, the more they have to See return on it. Right. So so much of it is the leadership of the company, both at the executive level. We did a presentation recently for one of our healthcare clients at the C suite level to get them all involved. And you're seeing more and more of that where CEOs are pushing this downward and championing it, but also at the benefits level in large companies is them using it, them getting engaged, and it just makes a huge difference. And now I'm kind of fuzzy on what the question was. [23:10] JD: Well, because you haven't really fucking answered it for me yet, but I hear you. [23:14] Speaker H: Okay, Okay. [23:15] JD: I want to know. [23:17] Speaker H: Our highest usage client is a plan, a mega plan of over 100,000 employees. Usage is 80% plus. And so that's very unusual, but they are feeding it into their wellness program and incentivizing people. So you get paid to do it. That makes a difference. Our lowest utilization is less than 1%. So it is a big range. Typically with a multichannel program, you're going to get 25 to 50% of employees the first year. With a multichannel, it almost always grows over time. So that 80% client we've been working with, everything is based on when my son was born. So 2006, we've been working with that client. It did not start out at 80%. It grew to that over time. [24:09] JD: Those are good insights. Those are good insights. So can start lower. I like that 25 to 50 you brought up. I love when you share the utopia client. I think that's great too. But then I like the idea that it grows over time. Chad, are you guys out on the. Are you seeing this? Or maybe you have a thought first? Go ahead. [24:28] Chad: No, I'll answer your question. No, I'm not really seeing it. I think many advisors are delivering their own F word wellness and they're trying to support it with what their broker, dealer or their record keeping providers is putting in their hands. They're not creating or leveraging a service life like this. But my main question, Liz, and we're seeing it in the chat quite a bit right now, which is how do we convince a client that this is needed? And I had two thoughts. I'm curious, is it more statistical base, like here's the implications, this is what we would expect to see and here's the results. Or is it more pulling the heartstrings like, hey, this is our obligation to our people and we want to help them and so you should be doing this. [25:16] Speaker H: So I think this, this is kind of the foundation. But I think for Behavioral finance is right. Traditional, you know, economics is that we're very rational, right. And we're gonna go for what maximizes our gain. And then I think behavioral economics really came and said, no, we're not rational at all. We're emotional creatures. And if you tap into the things that, you know, fit with how we live and with our, how our brain functions, like inertia, like instant gratification, you're really gonna going to make movement. And so I'm a believer that people are more emotional than rational. And if you, you read books about this, there's a book called the Power of Habit where they talk about the first case of someone losing the part of their brain that's responsible for decision making and they have no emotion. So absent emotion, your brain actually can't make a decision. So I believe that it is much more of a we need to provide this from a social responsibility perspective. We need to do the right thing. We need to be at the right side of history than it is ROI, the large client I talked about that has 80% plus usage. Years ago, their CEO was very on the fence of do we invest more in this program. His executive assistant came to him asking for a loan because she was having trouble making ends meet. And he told everyone we had to go big with this. Now that's one person, and this is a CEO who's obviously very logical, is reading all the data it took person he cared about tremendously who was in dire straits for it to click. So that's my opinion. All that said, we need to prove roi, you need to make the business case. I mean, it's both and, but I think it's more emotional both on what triggers people to take action and improve their finances and what triggers employers to put a program in place. [27:28] JD: I am less pessimistic than these jokers. Like, I'm usually kind of a glasses half full kind of guy. And I like what Jeremy Girardi said in here. So read that comment. It's very cool how this is additional value and for advisors so they can service their clients better and do more for their clients. I think what you guys are, why you're not seeing it is because you play more in the small to micro market. And I think that if you look in the bigger shops, the national shops for sure have aligned with people like Liz and other wellness tools and they're implementing it into their offering. And so I get excited when advisors talk about when small advisors talk about adding a wellness tool or wellness solution because I think it adds to their game and makes them more attractive to their prospects. So I think it's a good thing for sure. [28:20] Chad: J.D. i'll couple that a little bit. We've chatted for years about the hashtag, not your typical advisor. And we've always said if a micro market advisor could bring down the service level of the upper market team, then they would dominate that micro space. And I think that this is a key point. If you could really implement wellness into an advisor's practice that's working on plans south of 5 million, you're going to dominate that marketplace. [28:46] Speaker B: Okay, but my question to that point, Chad, is how are you going to prove its value? What are you going to show? You can go in and tell your client, hey, over the past year, if you're Talking about the 401k plan, here are the things that have changed. Here's what I've done to impact your participants. Reply, what? And Liz, obviously chime in here too. I'm just curious, like, what can an advisor go in and say that has been done historically with this type of benefit that would be meaningful to a CEO, an HR specialist, someone sitting in that seat to go, oh, yeah, that sounds good for us too. Like, what are the, what are the, yeah, the spec statistics. Something that they're going to care about. [29:28] JD: You mean like, you mean like taking a client from 15% engagement to 80% engagement? It's not the engagement, but the business case. [29:38] Speaker H: You're asking about the business case. Right? [29:40] JD: Right. [29:41] Chad: Yeah. [29:43] Speaker B: So what impact does that have? Like, where can we say, like that it has done? [29:48] Speaker H: Where can you prove this has a positive where can you prove this has a positive ROI or how tangible proof. So let's look at retirement plan, let's assume it's paid for from retirement plan assets and just look at outcomes. Right? So if you say this is, you know, you're doing a program that's, you know, $20 per employee per year, which is a reasonable cost on the small plan market. You have the opportunity to take that money and refund it to the employee. [30:19] Speaker G: Right. [30:20] Speaker H: To each participant, or you can deploy a program and then see what the outcomes are. One of the biggest outcomes is increasing deferral rates. So you can look at, even if we increase deferral rates by 0.25% or 0.5% or 1% over 5, 10, 20, 30 years versus that $25 refund and what that would grow at with just invested as it is? I mean, it's a huge delta. We do have the ability increasingly to look at the impact Longitudinally based on plan data. So you can say someone started here, they did the coaching, they did the assessment, they went to a webcast, they subsequently did more coaching, then a year later, what is their deferral rate kind of thing. So right there there's an important proof of concept. Separately we've correlated it to performance, productivity, health care claims, especially for employers that are self funding healthcare, large employers more so financial stress is the number one cause of stress related illness and it's a feeder stress for relationships and other things. So if you can manage chronic conditions that are stress related by reducing stress. We actually saw over a pretty large sample size a decline in healthcare claims of 4.5% among regular users in an environment where non users increased 19%. [32:00] JD: I think to answer to your question, because I want to talk about Amy here before we get rid of Liz, is there's tons of metrics, Mark. There are tons of metrics that you could use as an advisor to show that you've been moving the needle. There's tons of them. [32:15] Speaker B: I don't doubt that. I was just curious to know some specific. [32:19] JD: I think if anything, wellness is one of those areas where you could grab from so many different metrics to show like this is what I've done for my clients, this is how I move the needle and this is why you need to implement it in your practice. John, since you're a co host, why don't you do something and ask our guests about Amy? What the heck is Amy? Let our audience know what Amy is. [32:42] John Sullivan: I know that Amy is your lowest [32:43] Chad: maintenance employee by far, but highest upfront cost. [32:50] John Sullivan: That's a good point. That's very good point. [32:51] JD: And scariest to the health or lives of the world, Right? See that video? What if Amy turns into one of these suckers? What's Amy? Liz, tell the audience what Amy. [33:04] Speaker H: Amy is an acronym. It's our virtual financial coach that we're close to launching. It's an acronym for artificial intelligence motivating employees everywhere. And yes, the first thing people go to with AI is you know, I'm going to lose my job, the world's going to be controlled by robots, etc. [33:24] JD: True. It's true. [33:26] Speaker H: It is the perception. The reality is it is, I mean in order to provide incredibly personalized coaching that to the degree people need it, if you, if you looked at every employee in this country or every American, adult American, and actually even kids need this. But let's just say adults and what kind of coaching they need to really make a meaningful difference in their Finances, you have to have a scalable digital platform that gets super personalized because there's not enough, there's literally not enough certified financial planners in the country that are willing to do. Financial coaching is a full time profession to serve the demand. So the idea is this scalably provides really, really personalized guidance. You're reaching a lot of people, but in a very deep, meaningful way. And really as you use it more, it gets better at knowing you and serving up the content and guidance you need. So, so is this. [34:36] JD: Is Amy just like the her share today is done? Is Amy just the predictive analysis behind everything that will choose the next step in the path? Or is Amy actually like a, a mascot, like an Alexa or a Siri for your company? Or is it, is it just the AI behind the scenes? [35:02] Speaker H: So it's really a virtual financial coach and the AI is driven around understanding what you respond to. So what types of content or mediums are going to really get you engaged and continuing your progress? [35:21] JD: Some people Will I chat with Amy on your website or will Amy just be looking at my behaviors and then helping the tool create my next path? Do I chat with Amy or. [35:33] Speaker H: No, you do not chat with Amy. Amy is evolving based on you using Amy. So it's machine learning. [35:42] JD: Got it. I'm less scared by her now. [35:45] Speaker H: I feel good. [35:46] John Sullivan: Liz, a lot of advisors are old grumpy bastards and I'm just wondering, when robos came out, a lot of them were worried it was going to be some kind of John Henry kind of man versus machine duel. How do you think this is going to be accepted by the advisor community? Are they going to be threatened by it? They know enough now to realize that technology can act as a compliment rather than a competitor. [36:09] Speaker H: Sorry, I'm getting distracted with the chat. Wow, this is a lively show. I think because advisors really are struggling now with, you know, knowing the workplace is probably a very, very important part of their strategy for the future and knowing there's a need for advice and they need to be able to provide a program that serves everyone. Cause that's kind of, you know, table stakes now. It's really important to segregate out those that need financial wellness and financial coaching from those that need financial advice. I mean, they're two very different consumers. One is, you know, negative network. [36:52] JD: It's okay, it's like three or four, [36:54] Speaker H: but it's F word. That's what I need to say, F word. But one is, you know, negative net worth. And just at the beginning or the beginnings of starting to Think about their goals versus, you know, someone that has a sizable nest egg and really needs a lot of, you know, help with investing strategies and wealth protection. So that's what Amy can do, is really better understand. How do you put. Personally address the person that's the most financially stressed in your organization all the way to the person that's working. Because they love the work and they actually have the means to retire? [37:42] JD: No, that's great. Hey, I want everyone on this show and everyone in the future that's watching this to check out. I will drink for this. But check out financial finesse. Check out Liz. She's legit. She's a leader in this space. She has been doing this for over two decades, and when a lot of people haven't. So I would. I would encourage advisors that are interested in this to reach out. She's on the COVID of the mag, which is super, super cool. We really appreciate you hanging out with us. And you're really good at the prohibitive words, so take that away. I've never seen someone with such a skill to. You gotta make us a promise. Before you log out here or turn out the video, I need you to finish that fucking chardonnay. The whole damn thing. [38:35] Chad: Not right now, but you're setting records, Liz. [38:37] JD: Getting ready to chug before you go to bed. Before you go to bed. Liz, thank you so much. [38:42] Speaker H: Thank you. [38:42] Chad: Thank you. Thank you, Liz. [38:44] Speaker H: Bye. [38:46] JD: Let's spin the wheel of ice and then let's. Let's try to catch up real quick. [38:54] Chad: Hey. [38:56] JD: Yeah. [38:59] Chad: Oh, it's John. [39:02] Speaker G: John. [39:03] Chad: John. [39:04] Speaker B: This is a serious question. Do you want to open a new [39:08] Chad: beer and then we'll race? Oh, the things we get John to do. [39:17] Speaker B: He's gonna beat me so bad it's ridiculous. [39:20] JD: Brandon, can you bring on our next guest while these guys race with beer chugging? [39:24] Speaker B: Justin, you gotta count it down. [39:26] JD: Sherry, Fitz. Sherry Fitz. Brandon. [39:28] Chad: One. Go. [39:31] JD: You know what would be fun is, like, after our guests leave, it'd be fun to, like, talk about the subject. We should try it in the future without the guest. [39:38] Chad: You know, I think that would be cool. [39:40] JD: Love to dive in. [39:41] Chad: Obviously, I have some very good thoughts. Wow, that was impressive, both of you. [39:46] JD: Hey, there she is. [39:49] John Sullivan: Hey, Sherry. [39:51] JD: Oh, she's wearing our merch. [39:57] Speaker G: It's not gonna work for me. No, the hat, it's actually good, right? This is perfect. Except for that. Then you won't be able to see, you know? [40:05] JD: Well, you got the dope bangs right now. You don't want to cover up the bangs. [40:08] Speaker G: I got the shorty bangs, things going on. How are you doing? [40:12] JD: How are you doing, Ms. Sherry Fitz? [40:16] Speaker G: It's. It's been. It's been interesting, wonderful, fun times. I will say though, that today was kind of a hard day because my little kitty cat died. [40:29] Speaker B: Oh, sorry. [40:30] JD: I'm sorry. [40:31] Speaker G: I know. And I keep having to put mascara back on because he died in my arms. Oh, my golly. His name was Zart X A R T. So I just want to give a shout out to Zart. [40:42] JD: Yeah. [40:43] Speaker G: I love you. You're a great kitty. And there you go. [40:47] JD: You name you. [40:48] Speaker B: Cheers to Cheers. [40:49] JD: Cheers. I would pour it on the floor, but my wife mopped everything, like, literally yesterday. [40:56] Chad: I would pour it on my computer. Now that we know it can handle beer. [41:00] Speaker B: Might do that for you, Dolly. [41:02] JD: You name your. You name your animals. Like Elon Musk names his children. Man, like, that's a pretty creative. [41:10] Speaker G: I know. You know, it's. My husband's in charge of naming the animals, so. Yeah. So got a new dog, see? [41:17] JD: Oh, wow. [41:18] Speaker G: Yeah. Yeah. A new puppy. Oh, my God. Yeah. [41:21] JD: Puppy. [41:22] Chad: Or dog like puppy at this point. Okay. [41:25] Speaker G: His name is Fezig. You can tell me in the chat. Well, who can tell me in the chat where Fezig is from? And then I'm gonna have to figure out how to send you some socks. Fezig. [41:37] John Sullivan: It has to be in the chat. [41:39] Speaker G: No can speak out loud, John. You know it. [41:42] John Sullivan: Show. [41:43] Speaker H: Nope. [41:45] JD: Aaron Hall. [41:46] Speaker H: Aaron hall gets it. [41:47] Chad: Woo. [41:48] Speaker G: Aaron hall gets it. Princess bride. [41:50] John Sullivan: Yep. [41:51] Speaker G: He's a giant. He's. He's named after the giant. [41:55] John Sullivan: Hey, lady. [41:56] Speaker G: Princess bride. Hey, lady. [41:58] JD: Can you tell Sherry? Sherry's really uncomfortable on the show. She just comes right on and I feel like she's taken over the entire show so far. [42:07] John Sullivan: She's got nicer equipment too. [42:09] JD: Yeah, right? [42:10] Speaker G: Yep. I got a bigger email list and nicer equipment. [42:14] Chad: Oh, and more people on LinkedIn. [42:18] JD: But you have a very blurry bookcase, [42:21] Speaker G: so that was awesome. Yeah, right. You can't even read that bookcase. [42:25] JD: You had a multiple page. What do you call that, John, in the editorial business, it was like a center spread kind of a pretty big article. Is there a name for it? I don't know. [42:36] John Sullivan: It's a center spread, pretty big article. [42:38] JD: Yeah, that's a technical term. In the new mag, it was serving 401 clients. I'm reading from my notes here, but what crisis can teach you about business innovation in a post Covid world? And I think it was cool. It's been a while since you've written it, but hopefully you've freshened up on your thoughts from back in the day. [42:59] Speaker G: I think I have new thoughts back in the day, but, yeah. [43:02] JD: Tell the audience quickly, what was the incident that was kind of the motivation for the article, the Chilean disaster that happened there? [43:11] Speaker G: Well, I think everybody remembers when the mine in Chile kind of like went to pieces or whatnot. And there were all those miners and remarkably, their lives were saved. And no one could have, at the very beginning of that anticipated that that would be the case. And there weren't. There was not a rule book. There was no rule book. And so Harvard Business did a whole study on this, and then they came back and kind of like brought it back out. And it just kind of hit me that it's very similar to kind of what's going on right now. There is not a rule book at all, really. And when I. This was in March, when I. When I think I finally submitted it to John, it was, you know, I pitched the idea to John in March, and then the article was kind of submitted to him in July. And I. And what was interesting is I thought that it would be a rather dated because, you know, post Covid world. Right. Kind of thinking, okay, everything's going to be back to normal, not going to be. And so, you know, I had to re. Not really rethink it, but everything was valid, I think. Yeah. So that's kind of the genesis of it all. [44:28] JD: Yeah. So their traditional ways of saving these people weren't going to work. They had to think outside the box. They had to really get together and find new, innovative ways to save them. They did that. I think that's a great lesson for us to learn as advisors. Yes. [44:43] Chad: Chad, Two things I'll say. One, I have to admit, because you guys know the recent issues I went through. Apparently I'm claustrophobic, which I didn't know. As I read the beginning of your article, I literally lost my shit. I had to walk away like, I broke out in sweats and had a panic attack thinking about being trapped in that cave. Secondly, you said something that hit home to me hard, which is they tried business as usual. Right. They tried to rescue them as normal following the event. And when that failed, they went to innovation. And I think we're all here right now as a group, a collective group, saying what we were doing in the past. The business as normal is likely not going to work. So start creating new innovations, thinking out of the box now, not when this is actually over. [45:31] Speaker G: Yeah, I think. I guess I will just Say transparently. I am a proof point for that. Right. Because. I wouldn't say that I pivoted. All I did was lean into my desire for learning more and my desire for innovating. Yeah. [45:52] JD: That's how I wanted to think of this is. I feel like Covid, Chad, forced us to innovate as advisors, as TPAs, as record keepers, as everyone in the business. It forced us to innovate. It forced us to think outside the box. It forced us to make change. And I feel like what Sheri's article is about, like, is like, okay, now that you've flexed that muscle of innovating and being creative, take it with you post Covid. [46:20] Speaker G: Yeah, well, I remember that the last time I was on this, and we had this debate, right, Chad, where you're like, I want to go back out. I want to start meeting people, et cetera, et cetera. And then maybe some of our clients we'll do video with because they're like the C clients. And some of our clients we'll see in person because they're like the A clients. And I think that now, depending on the defined client experience, I would say that it's not necessarily the C clients. You want to really kind of figure out what the A clients need from you, how they want to interact with you. And I'm guessing that a lot of them for a very long time are going to say, this works for me. This works for me. Yeah, Right. [47:02] Chad: But that's. And that's. That's kind of my point to hit on. What JD said is that we're in the middle of this right now, and I'm saying we need to continue to innovate in the middle and keep it with us in the end. If there's another mine collapse, don't immediately go to business as usual and try what you thought you tried at the beginning of the first chili mine collapse, go in with what was innovative and actually worked, and immediately go there. So don't revert back to what worked in the past, I guess. [47:34] JD: What do you guys think about this? And, John, you can chime in, too. I kind of see it more like Covid put a gun to my head and forced me to innovate. But now what it's done, what should do for me is when this stuff's all over, I should now allocate like a Tuesday morning for two hours to sit down and think about, how can I innovate? What can I create that's new with no gun to my head and not preparing for the Next pandemic literally just coming up with cool new creative ideas that I can be first to market with. [48:09] John Sullivan: What I liked about it though is also that you made the point that it doesn't have to be earth shattering, right? It can be something small, I mean, even to get started with, so people don't have to feel overwhelmed by it. Because, you know, JD and the entire Hawks crew are all about the big idea, which I love for somebody like me, I start small and kind of build off of that. So I really that that resonated with me. [48:29] Speaker G: Well, you know, John, I have this like thing that I do think that everybody thinks that this innovation idea needs to be like a moonshot. We hear about the moonshot that Google does and la la la la la la la la la la. And so everybody, and I'm certain that those of us who have worked in the corporate world have heard the term scope creep, right? We try to innovate and then all of a sudden it's this huge big thing and it almost collapses in on us like the mind did, right on the miners. Plug your ears, Chad. But so that you don't sweat. But I think that innovation can be, I mean, to your point, John, just like a really small, simple thing of trying something different. Right. [49:15] JD: Well, there's a paragraph that Amy Edmondson talked about in your article that you quoted where she kind of mentions the fact that being innovative can be chaotic, right? So like look at my company and my staff. Do you think my staff likes it when I come up with new ideas or new creative ways to do things? No. It's a disruption. [49:36] Chad: You gotta let me fly. [49:41] Speaker G: Well, you know, so, so jd, I think this is one of the things that when you think about how you need to start putting your teams together differently, right? That obviously the, the COVID has kind of separated us all and the teams have started to kind of where, you know, where there was a big tree, there is not a tree anymore. And so now the underbrush is going to grow out and sadly going to burn a little bit more and we have to sweep it up. But, but what, what I mean by that is, is that your, your team had, has been built to embrace that. You got to figure out a way to manage that and deliver on that. You, you, you know, I mean, I'm the same way. I, I, I am just like, I see, I see possibilities everywhere and I can't deliver on them by myself. [50:38] JD: Well, as much as people like to think that I innovate and get creative and I have at times in My career. I also get lackadaisical, right? Is that a word, lackadaisical? I don't know, John. Yeah, I get complacent and I'll go months a year plus without doing any major change to my business or my operations. And I think your article taught me, and I'm not being cheesy here, I really do mean this. It taught me to say, like, no, man, you got to keep moving, you got to keep changing, you got to keep innovating. [51:11] Chad: Sherry, I'm connecting the dots right now and I'm going to give you a lot of credit because JD came to me, I don't know, a week ago or so, maybe less, and he said, hey, I want you to sit the guys down and I want you to have a conversation with them about what is next for the TPA community. What is next for pdc? Not like, hey, we need new one page deliverables or we want this from a marketing effort. Like really blow it up. Anything you want in a perfect world, what's next? And so that's. We've spent some time on as a team. I'll give kudos to Josh right now, which is going to give Justin a headache. Josh sent me a seven page breakdown [51:49] Speaker B: of what [51:52] Speaker H: you need. [51:53] Speaker G: Some detail. See, this is, it's fantastic. Wow. [51:59] Speaker B: Well, five bullet points. [52:02] Chad: Justin hasn't even submitted. [52:03] Speaker B: Josh, if you're on this call, fantastic. F word. [52:07] Chad: You [52:09] Speaker G: jd though, here's the one thing. It's really kind of. It's almost like, don't you feel like you have to have the muse? I mean, this is the hard part is sometimes innovation is so easy to embrace and you can kind of see the path very clearly. But then how do you build it into your organization? Which is why I tried to say, you know, when you start to think about innovation, sometimes thinking really big is going to be really hard. And then to your point, maybe you feel like nothing happens for two and a year and a half when in fact it has happened, things have happened, smaller little pieces. Oh, who burped? [52:46] JD: That's me here. [52:47] Speaker G: Okay, but, but so if, you know, even if you give yourself permission to like do the smallest thing, it's still innovative, right? [52:59] JD: Kind of. To John. Kind of to John's point, I think that is great advice is don't sit there and get paralyzed by, okay, I gotta do something massive. But I also, I think a great takeaway for everyone. And if I've said this over and over again, I apologize, but is maybe set the time aside. You know, I think we just get so caught up in our day to day, so caught up in answering the emails and getting that next project done and dealing with this client and doing this or that that we don't stop enough and carve out some time as Chad was talking about and say like, okay, let's brainstorm. And then to your point in terms of getting it done, I've always been a firm believer in just get her done. Like so then you just dip in, you start the process and you just fix it as you go. [53:41] Speaker G: But you know how I. Oh, go, go ahead, John. [53:45] John Sullivan: No, I was just gonna say the other takeaway, the big takeaway is that old political adage that you never let a crisis go to waste. Right. That something good is always going to come out of it no matter how bad it is. And we're living through this absolutely horri. But already we're seeing the benefits, some of the benefits that come from it. So yeah, a little sensitive to that. [54:02] Speaker G: But yep. You know, I haven't said the prohibitive word. Can I say the prohibitive word for a minute? Financial. The reason why is because I want to share with you what I'm drinking. Hang on. This is so good by the way. I mean, but this is a canned bloodhound so I feel like I should get, I'm going to have to get [54:22] Speaker H: a hold of them. [54:22] Speaker G: But it is blood. It's a vodka, blood orange and grapefruit. So it's a, you know, it's a, it's a, what is it called? A greyhound, only with blood orange stuff. It's so good. I take it to the river with me all the time. [54:33] Chad: Nice. [54:34] Speaker G: It's refreshing. I also always put a little bit of extra vodka in there. So if anybody's paying attention, I have one and I have two because that's the can. I mean, you know, I got ice cubes in here. [54:48] Speaker B: Why don't you just go get blood orange juice and make your own with a vodka. [54:54] Speaker G: I have done that. I have done that and I can't get the tang. There's a of ton tang there. [54:58] John Sullivan: I've tried drink those all day long. I mean it's got to be one and done, right? [55:03] Speaker G: Yeah, it is. I had, you know, Greg Collino, we, we actually. I got to like go eat tacos with Greg and sit on like the sidewalk because there was no places to sit. And I brought two of these, one for him and one for me. And by the end we're like, yeah, yeah, that's what I'm drinking. Bloodhounds. Okay, what was the question? [55:24] JD: There was none. [55:26] Speaker G: Okay, okay, I will say this. Let me say back to your point about making time. Where I make time is when I walk, and then also where I make time is because, you know, mostly I'm a speaker and a teacher, and I try. That's my shtick, by the way. Yeah, I speak, I teach, I do workshops. That's what I do now. [55:44] JD: And plug. Chad. Go ahead, take a potty break, Chad. [55:49] Chad: I'm going to have to in a minute. [55:51] Speaker G: But what I do is I propose new ideas for content. Just like I pitched this to John so that I could force myself to learn something and evaluate something. So I pitched this idea of an article to John in March. The content wasn't due until July. I got to learn an awful lot and think through an awful lot between now and then. And it's not like every time everything's new. It's just that every time, everything is a little bit more. So when I walk is when I get to kind of marinate on that stuff. That's the time that I get to kind of create and innovate. That's my time. J.D. probably when you surf, you have some ideas. You just don't know it yet. [56:32] JD: Oh, usually when I have time sitting in the ocean waiting for a wave, my thoughts tend to go towards, like, I wonder where their nearest shark is, or I wonder, how did Bethany Hamilton lose her arm instead of a leg? Like, that's normally I. It just happens naturally. [56:51] Speaker H: And then I say, get one of those. [56:52] Speaker G: Why don't you get one of those? Aren't those new, like, wetsuits that have that. That look that sharks can't see? Talk about innovative. [57:04] Chad: Not sure that exists. [57:05] Speaker H: All right, there is. [57:07] Speaker G: Check out the TED Talk. Oh, my gosh. Somebody innovated. They're like, people wear wetsuits that make those like a seal. [57:13] Chad: I want to know who tested that. [57:18] Speaker C: I just want to say I just read a book of a GU who sold $100 million a year company. And one of his things was on Wednesday, during the week, he didn't do any work, and he just went and sat and thought about his company. [57:35] Chad: Like, meditated, essentially. [57:37] Speaker C: Yeah, basically. [57:38] Chad: He just. [57:40] John Sullivan: I would love out in the woods. I don't have the discipline. I'd sit there and fall asleep. [57:44] Chad: I don't either, John. [57:45] Speaker B: Truthfully, that sounds like Chad, but on Wednesday, he golfed. [57:50] JD: Greg, are the wetsuits made from the same material as Wonder Woman's plane? Yeah, I think so. Think so? Greg was picking up on my. My confusion. [57:59] Speaker G: Yes, it's there. I'm going to find it. I'm going to send you this. [58:02] JD: Sherry. Sherry, I can't. I can't let you go. It's been so long since we've seen you. I hope it's okay with Brandon. I'm just going to leave you on here and we're going to bring on our third guest. Brandon, if you could bring on 401 Jake, and we'll talk about Jake's little wasn't. Wasn't. John, Jake didn't write an article, did he? You kind of. You guys interviewed him. [58:28] John Sullivan: Yeah, he's our September tapo. Oh, this month's tapo. [58:32] Speaker G: Oh, he is. [58:35] Chad: Yeah. [58:36] JD: I did know that he was a tapo. [58:38] Speaker C: Okay. Oh, there he is. [58:42] JD: I know you. [58:43] Speaker G: Why can't. One of these days, John, I'm gonna get the COVID After the retireholics, I didn't want that. [58:48] John Sullivan: It just worked out in layout design. I was like, she's not gonna like that either. It's got to be big. [58:52] Speaker G: I don't care. [58:54] JD: Sherry would be a great cover. Sherry being a great cover. [58:57] Chad: Yeah. You know what? [58:58] John Sullivan: I was gonna have you guys, but I'll bump you guys for her. [59:01] Chad: Oh, yeah, sure, John. Makes sense. Gary, we owe you an apology. [59:05] Jake: Yo. [59:06] JD: Probably makes sense. Mark, would you mind? I don't think this audience is going to enjoy this show if they don't get just a little bit of lamer game. So this. [59:14] Speaker B: Come on, Jake's. [59:16] JD: Just give us. You're going to skip the lamer game? [59:19] Chad: All right, fine, fine. [59:20] Speaker B: We'll do a quick one real quick. [59:22] JD: Pick your best one. [59:24] Speaker B: All right? [59:24] Chad: It's not my best one. This is not my best one. [59:26] Speaker B: It's actually. I'm going to pick on Jake. [59:27] Chad: I got two. [59:28] Speaker B: I'm going to use my first one. Is. Is it lame or are you game posting to LinkedIn on the weekend? Jake, I'll start with you. [59:38] Jake: That's a tough one because I did that this weekend. [59:40] Speaker B: Yeah, I know, but I was on [59:42] Chad: LinkedIn, so I guess I knew about it. [59:44] Jake: I don't. I think it's okay. I don't. I think it's all right. When you have downtime, you know, when you're sitting on the toilet or whatever, you got to get on LinkedIn and catch up. [59:52] Speaker B: Wow. First off, that was an insight I [59:54] Chad: never thought I would hear. [59:55] Speaker B: I was gonna say, you of all people don't strike me as a person with down. [59:59] Speaker G: No, I saved the toilet for Instagram. [1:00:01] Chad: Yeah, [1:00:04] Jake: well, my LinkedIn just comes up Next. [1:00:06] JD: Sherry. Lamer game. [1:00:08] Speaker B: Lamer game. [1:00:09] Speaker G: But say I didn't hear the question [1:00:10] Speaker B: posted to LinkedIn on the weekend. [1:00:13] Speaker G: Oh, you know what? Game. [1:00:15] JD: Okay. [1:00:16] Speaker G: Because I'll say that here, here's the thing. Because some people don't do it, which means that I get more airtime, right, Jake? I mean, right? And you got to do it when you just have time. And sometimes you just don't have time. Yeah, I'd say game. [1:00:32] Speaker B: Perfect. [1:00:32] Chad: Chad. Lame. [1:00:35] Speaker B: Justin. [1:00:37] Chad: John. [1:00:39] John Sullivan: I'm going to quote the greatest entrepreneur in the history of the world, Gene Simmons of Kiss. Never take the weekend off. So I'm going to say game. [1:00:47] JD: Yeah. [1:00:48] Chad: Wow. [1:00:50] JD: I'm going to answer like Justin answers game. [1:00:55] Chad: All right. Mark always gives me shit when I go out on run. When I start talking. What the hell am I supposed to do? [1:01:00] Jake: Come on, Justin, just tell us how you feel. Let's go. [1:01:03] Speaker B: My next one is. Is this when you park in a parking lot and not like an empty parking lot full of cars if you always back into the spot. Is that lame or are you game? Justin, I'll start with you. [1:01:23] JD: I feel like this attack on Justin. [1:01:25] Jake: Fuck you, Mark. [1:01:26] Speaker B: Dad, [1:01:29] Chad: drive my truck. Nevermind. All right, next. [1:01:32] Speaker B: Yep, Chad, you're next. [1:01:34] Chad: I am Lane. That's Lane. You're back into your driveway right now. [1:01:39] Speaker G: But let me just say one thing, okay? Okay. I'm a girl, and people get scared when girls tried to back in. And so I was driving a really cool rental van last year up in the gorge at a concert, and I started backing into a parking place in McDonald's and I just went, whoop, right in there. And some guys actually clapped for me. So I'm gonna say game. [1:02:05] Chad: Well, screw those guys. Thank you, Sherry. [1:02:10] Speaker B: But okay, Jake. [1:02:13] Jake: Yeah, Game. I mean, it depends on what you're driving, right? Like, I have a truck. [1:02:18] Chad: When you drive a little sedan, Jake. That surprises me. That surprises me, Jake. But if you have bikes on the back of your car, you're gonna reverse in the bikes on the back of the truck. [1:02:30] Jake: Well, this. [1:02:32] Speaker B: I'm also saying I don't mind facing that direction in a parking spot, but I would rather pull into it and then pull forward, not do the. [1:02:41] Speaker G: That's lame. [1:02:42] Chad: Cool. [1:02:43] Speaker B: I can back into a spot and hold people up. You know, cars are trying to go by. [1:02:48] JD: Park your car. [1:02:49] Speaker B: Just park it. [1:02:50] Chad: Mark, the same thing happened. [1:02:51] Speaker G: No, no, no, Josh. I'm saying I back my Prius in to parking at the QFC and they [1:02:57] JD: comment in the chat. Okay. [1:02:58] Speaker B: I was gonna say. [1:02:59] Chad: I don't understand. [1:03:01] JD: I Drive a truck. Why is it better to back in as a truck owner? [1:03:07] Chad: Yeah. [1:03:07] JD: So I say lame. And I. [1:03:09] Jake: And I just don't get it a [1:03:11] Chad: lot easier to line up going in reverse than it is over. [1:03:13] Speaker B: Okay, then don't drive a truck, John. [1:03:17] Chad: Or learn the dynamics of your truck. [1:03:19] Jake: There's traffic everywhere. [1:03:20] Chad: Oh, here we go. Anyways, moving on. [1:03:23] John Sullivan: At this point, I think that people are trying to take too much excitement of their lives that they're really going to have to just get out of there, like to the cars, you know, and some kind of superhero and jump in there and heal out of there. I mean, come on. Where do we really have to go that you're going to be in that much of a hurry that you have to back in and be ready to go? You know, I just don't get. [1:03:40] Speaker G: Oh, in a QFC parking lot, you have to get your ass out of there fast. [1:03:44] Speaker C: Thank you. [1:03:45] JD: See, I could be wrong. [1:03:48] Speaker C: I don't do it, but I understand why people do it. Because you know your circumstances. When you're parking, there's not a lot of cars around, so it's easier. You don't know what you're facing when you're leaving. When you're leaving, maybe there's a ton of traffic and you want to be [1:04:05] John Sullivan: able to just to pull out. [1:04:09] Chad: That's an interesting thought. [1:04:10] JD: Thank you, Brandon. Thank you, Brandon and John. I didn't understand why John's claiming it's for a quick exit. Brandon's claiming it's for an easy exit if the parking lot sits more crowded. [1:04:21] Chad: Okay, well, here's J.D. here's my thought to it. If I reverse in, this is where I thought Brandon was going with it. If I reverse in, my driver's side door is on their passenger side. It's less likely that someone's getting into their passenger side and will ding me than it is someone getting in on the driver's side. Obviously someone's getting in. What if the person. [1:04:41] JD: No, Brandon, we need for your graphics, we need a nerd alert with Chad. Like, nerd alert. Nerd alert. Something like this. [1:04:50] Speaker G: Is it like. It's kind of like this, then this is what you're saying? [1:04:54] Chad: Yeah. You put them on the opposite sides. Wow. I didn't know that opening of my door, but I don't trust the person next to me. [1:05:03] JD: Jake, not a hard act to follow right now. Tell us about retirement plan rx. How did this come about? Did John reach out to you? Did you reach out to these guys? Did they interview you? Give me a Little backstory. [1:05:18] Jake: Oh, John just called me and I was like, hey, good to hear you again. And he said, oh, there was a [1:05:24] John Sullivan: little bit of lobbying going on. Come on, Jake. [1:05:27] Jake: I didn't expect him to call me. And yeah, I was super thrilled and happy. And he writes really well, so I'm glad it went that way rather than me writing anything. So. So it was, yeah, it was a surprise and I'm happy to be a part of it. [1:05:40] John Sullivan: He was actually nominated, but I think there was some behind the scenes lobbying for the nomination. But yeah, we've been looking at Jake for a while. [1:05:50] JD: Well, he's dedicated to the 401k space. Can you and John, can you help everyone understand the article and the concept and what was going on there? [1:06:00] John Sullivan: Well, yeah, I mean, he's highly specialized in the physician space, which I think is obviously a, a competitive advantage. And so there was just so much about that space that I wouldn't have thought about. You know, that high income but loads of debt, you know, all those things that would go along with being a physician, especially right out of college. And that in a lot of the, the practices that, you know that you've got guys on the way out, you've got a very diverse kind of clientele there. And so it was just really interesting to hear how he handles that. And don't take this as an insult, Jake, but as a relatively young guy and dealing with some of these doctors that have been around that are very smart, some of them can be a little bit maybe tough to take. [1:06:43] JD: Bless you, Mark. [1:06:45] Jake: Yeah, no, it's true. [1:06:46] John Sullivan: I thought he was barfing for my race. [1:06:50] JD: Doctors are some of my favorite clients, not Jake. So. Go ahead, Chan. [1:06:56] Chad: I was going to say I spent some time with Jake, business related especially, and the intellect he has in this space is phenomenal. Knowing how to design a plan for a doc who is a doc blessing mark that is on their way out or a doc in the middle stages, understanding the dynamics of the practice that most doctors have a couple highly paid physician assistants and then some. Some level staff. Like it is a highly specialized area that in my mind you have completely wrapped your brain around. And you know, can I just, like, [1:07:35] Speaker G: this is a, this is a serious shout out to somebody who's got their niche down right. Niche, niche. I know, I like niche, whatever. But, but, but Jake, everybody gets chicken about trying to like pick a lane and ride the lane and you totally do. I just want to give you a shout out because sometimes people don't have enough courage to do that. [1:08:04] Chad: And that's the question for you, Jake. Then help us out a little bit. Did you stumble into it? Did you choose it? Should advisors pick a niche? [1:08:13] Jake: Absolutely. [1:08:13] Speaker G: Niche. [1:08:14] Jake: That's the first thing I taught when I talk to advisors that reach out to me, and I've had a ton of them lately, it's who are you trying to help? And they can't even answer that question. So they don't even know. Because I think if they pick some lane or one niche like that, they're narrowing or limiting their opportunity. It's the opposite. And so once I get that through their head and they start to realize this broadens and now people know who to send to them. They know who they help the most. They create a brand for themselves, which is more powerful than saying, hey, I'm with this big firm or that big firm. They want to come to you because you know their area, you know what their problems are, and that's what's worked. And we realized that, you know, a couple years ago when we were trying to do, like, you know, HSAs and partner with a lot of benefits brokers, and it just wasn't going well. And I was like, why are we trying to win everything? Let's just go after who we're winning the most with. And that was doctors. So just went deeper into it, which adds cash balance and a lot of other complexities. But that's why we have people like Chad to come in and back us up when we find something crazy we can't do. You have to have the right team around you to do it. [1:09:21] JD: What is an advisor that's out there? What's the negative of focusing on a niche and, you know, like. Cause I would think it's like, well, geez. And my prospect list gets whittled down to a shorter list. Is that a realistic con or. [1:09:39] Jake: No, because think about people. Like, they think the best way to get meetings or find clients is to just go through the 5. 5500 list, right? They just get. They do it by zip code, which is a terrible way to do it. They're wasting all their time thinking they're being effective rather than going deeper into their niche and like, being a part of that community, not just the 401k community. Like, go into what these. Whatever you're helping, know what their problems are. Because I guarantee you the 401k is not high on the list. But at some point it will. It will jump up and they'll be like, ready and want your help. But you have to be around and they have to think of you. So people default to things they think [1:10:19] Chad: are better, but it's just easier by being in a. In a close group of potential client base. You get a lot more referrals than you. [1:10:29] John Sullivan: That's what I was going to say. Yeah, it's gotta. That referral pipeline pretty well. [1:10:33] Jake: That's all. That's how it works in. At least in this with doctors. You. You go deeper into their world and they know each other. They start talking about it because they're not spending as much time on LinkedIn. It's starting to get more and more of them on there, but they're hard to connect with. They're super busy, and the only way they're gonna hear about you is from another doctor. So we've had a lot of success with, like, radiologists and anesthesiologists who happen to work and support surgeons. And then it just sort of goes into this whole network of specialties. And so you understand what that group would fit the most. Like, radiologists have no staff, so a cash balance is like a slam dunk every time. But you get into like a, like an OB office or, you know, family practice where they have a lot more staff. It's a totally different discussion. So it's understanding. Even inside of that niche of picking doctors, there's even tighter. [1:11:25] Speaker G: One just said niche versus niche. He goes back and forth. [1:11:29] JD: John, you're. You would be the, the authority on this, given your literature background. Is it niche or niche? [1:11:37] Chad: It's niche, damn it. [1:11:40] JD: I'm sticking with niche. That. [1:11:41] Chad: I'm always wrong with those. [1:11:43] John Sullivan: Whatever, Frenchie. You do whatever you want. [1:11:46] JD: Niche is so much cooler. We heard from. [1:11:52] Speaker G: Niches get stitches. Good one, Greg. [1:11:54] Chad: Yeah, that's solid. [1:11:55] JD: We, we heard from someone on the show that was telling us they've. They've focused on chicken farms or something. Was. Am I making that up? [1:12:02] Chad: Yeah. [1:12:02] Speaker G: Was that someone from Portland? [1:12:06] Chad: No, he wasn't. We heard two things. [1:12:08] John Sullivan: Advisor. [1:12:10] JD: Who was he? [1:12:11] Chad: He was using a chicken farm to describe investing, and he was using that to correlate to a specific audience. But then that led him. Wasn't Jason. Was it success in that space? [1:12:21] JD: Sean Chap and Nick. [1:12:24] Speaker G: No, no, not Chef Nick. Sean. Sean. [1:12:26] Chad: It wasn't Chip. [1:12:26] John Sullivan: Nick. [1:12:27] Chad: Oh, taco truck. Yeah, yeah. [1:12:28] JD: I don't know. [1:12:29] Chad: It was a taco truck guy. [1:12:30] JD: Yeah, it was really a chicken farm dude. Yeah, anyways. Yeah, anyways. [1:12:36] Chad: Okay, then I'm thinking of two different things. Remember the guy that, that we watched a video of who did an important education with the Eggs and chicken in a basket. [1:12:43] Speaker G: That's Sean. [1:12:45] Chad: That's Sean. That's what I'm thinking of. [1:12:47] JD: Okay, well, Chad, Sherry, that's a different fucking situation we're not talking about. [1:12:50] Chad: Well, sorry, J.D. [1:12:53] JD: i know the video you're talking about is cool. It was really well done. [1:12:56] Speaker G: It was adorable. [1:12:58] JD: I wanted to ask you. I think I asked Jason the same question. 401 Jake, do you think it would be okay for me to have two or three niches? John, I'm looking at you and I say niche or is it got to be just one? [1:13:15] Jake: No, I think you're okay to branch out a little, but putting the effort into the one is going to give you more than you think because even inside of that one there's different parts to it. [1:13:25] John Sullivan: So it would have to be related anyway. Right. [1:13:28] Jake: I would more look at that from a marketing standpoint. Are they going to be able to refer business to you from that other one then? Yes, maybe that's okay. Like dentists for me, like, right. I'm picking up a lot of dentists because same similar problems, but they have a lot different like affiliate service group problems. So like it's just, it's, it's close but not quite the same, but it works. So. [1:13:50] JD: I can't believe we still had 27 of these guys hanging out with us. Dan, with us tonight, these attendees. I know football's on, so. [1:13:59] Chad: And we're late. [1:14:00] JD: Yeah, well, I knew this sucker was going to go late. I was the idiot. Go ahead. [1:14:05] Jake: Mention so big thank you to you guys for supporting the bike kits. So we're going to have email go out to everybody that's going to excel about these if you haven't seen them. So I'm super pumped because a lot of advisors have picked up the new golf is what I call it for cycling and we got retire hawks right on the shoulder. So it's going to be pretty cool to see pictures of people out wearing their 401k. [1:14:25] JD: Go ahead and, go ahead and plug that and explain that for everyone listening in. So what, what did you do and what, how can they get one? [1:14:31] Jake: So everyone knows I love riding bikes and it's one of my passions. It's one of the things that I do to manage stress and just have a balanced life. So I've always wanted to have a kit with my logo on it. So I just went after it and I got a few sponsors to help support it so we can make it cheaper for everybody. And retiredholics jumped into that and I really appreciate you Guys doing that. And we're tying it to the Excel conference because I'm speaking about managing stress and avoiding burnout. And that's gonna be with Janice Stout and Matt Jackson in October 30th. So you have the month of September to buy your kit. The store's open right now. I'll put it on my LinkedIn again and you can order a kit. You can get one like a mountain bike kit if you just ride mountain bike or just want to ride around the neighborhood. And they have a 401 symbol on parentheses with a K and all the sponsors and so just want to create a community around biking and 401ks. And it leads to good conversations with those you ride with because they're like, what's this K about? And boom, there you go. [1:15:30] JD: So I don't think the boys know. I don't think I told you guys. We just. We paid for our logo on the shoulder. That's all. So we're part of. [1:15:37] Chad: Awesome. Hey, fill me in, Jake, because I was very curious. I started to see that pop up online. What's in the kit? Like, what does that mean? [1:15:47] Jake: It's jersey and shorts. So that's a kit. Sorry, I should clarify that. So kit is jersey and shorts. You can do the road one that are tight. [1:15:56] John Sullivan: Trust me. [1:15:56] Jake: The mountain bike ones that are loose. [1:15:57] Speaker G: It's a Speedo. It's jersey and Speedo. Just. [1:16:00] Jake: Yes. [1:16:02] John Sullivan: I'd only wear that if I say niche. [1:16:04] Chad: I'm guessing Lauren was referencing a song. So Lauren's getting points right there. [1:16:10] JD: Hey, Jake rides bikes to reduce his stress. PCH eats. But I got this baby. This reduces stress. [1:16:17] John Sullivan: There you go. [1:16:18] JD: All the time. [1:16:21] Chad: But I didn't say the word enough. [1:16:22] John Sullivan: So what's up with the. [1:16:23] Speaker H: Can I. [1:16:23] Speaker G: Hey, by the way, since everybody is pitching their. Everybody is pitching their thing on the Excel situation. I am doing a session on Excel on Brandon. [1:16:33] JD: Brandon, can you mute sherry [1:16:37] Speaker G: on October 16th at 3:30 on changing participant behavior, a look at behavior design. So behavior design is different than behavioral finance. No, you don't get a drink. That's okay. I'm fine, Brett. But Anyway, yeah, cool. [1:16:58] JD: Excel 401K. Let's wrap this up and vote for the CBC. So Mark, your vote for CBC is Mike Webb. Mike Webb. Chad. I will say. Sorry, Greg. [1:17:13] Speaker B: Greg had the comment of the day with niches get stitches. But Mike has been absolutely chat bartering for us to be on the COVID [1:17:22] Chad: So I. I appreciate that. I. That it is. It is hard to step away from pushing on the COVID But she was so dominant early that I'm going with Aaron. Aaron early was so dominant, then she bounced. But I still have more points for her than anybody else tonight. [1:17:42] Speaker G: Aaron says I'm her spirit animal, too, so that works. [1:17:45] JD: I love the creepy Bryant Lester kind of tried to invite him in, but [1:17:50] Speaker C: apparently he wasn't ready. [1:17:52] JD: We could let him pitch excel401k. Justin, who's your vote going with Mike [1:17:57] Chad: for the COVID support? [1:17:58] JD: Mike. Brandon. [1:18:02] Speaker C: Greg. [1:18:03] JD: Craig. Craig can win again because it's been. You just got to take a week off. John, who's your vote for cbc? [1:18:11] John Sullivan: I was going to say Greg, but. So he can't win, so I guess. [1:18:15] JD: No, he can. He can win. [1:18:16] John Sullivan: Okay. Yeah, no, Greg. [1:18:18] JD: Definitely Greg. Jake. Yeah. You've been. You've been here this whole time, right? You've been in the chat bar? [1:18:25] Chad: Yeah. [1:18:25] JD: All right, what's your vote? [1:18:27] Jake: I gotta say, Mike, he's been busy on there. [1:18:29] JD: Mike Webb. [1:18:32] Chad: John, in case you didn't see, Mike was pushing hard for us to. [1:18:35] Speaker H: Hey, Brian. [1:18:38] Chad: Gotcha. [1:18:40] JD: Brian. Let me finish this CBC vote, and then you're gonna have to plug Excel. [1:18:45] Speaker G: All right, I'm just gonna say. I'm just gonna say Aaron. [1:18:48] JD: Aaron. Yep. Two. Two votes for Aaron. You know what I didn't want? I really couldn't pay attention to the chat bar. I apologize because I've been so busy. [1:19:03] Speaker G: But she's like, I've got a sh. I've got a. What is it? [1:19:07] JD: But we. [1:19:08] Speaker G: I've got a Kings. I've got a death to plan. Do you guys know Princess Bride? I've got a death to plan. [1:19:19] JD: I love you, Sherry Fitz. I love Mike. I would love to vote for Mike, but Aaron's got a proposal for, like, a $40 million plan that we're working on right now. So I'm just gonna go for Aaron. You know, maybe we'll get the plan. I don't know. So it's a tie. [1:19:40] Chad: Hey, J.D. does it make a difference that she's not on anymore? Oh, no. [1:19:44] JD: Is she not on? [1:19:45] Speaker G: You have to be present to win. [1:19:47] JD: Is she not. Is she gone? Okay, screw her. Michael Webb is the champion. Michael Web. [1:19:53] Speaker G: All right, somebody's got to save the chat because I can't remember who knew the. Who knew the chat? [1:20:00] JD: That was Aaron. That was Aaron. [1:20:02] Speaker G: See this? Okay. [1:20:03] JD: Okay, Bryant, give a Little Quick Excel 401k plug, and then we're gonna play some music and go watch some football. [1:20:09] John Sullivan: Hey, Bryant. I was gonna do it, buddy, but I figured you'd probably do it best, so I Gladly turn it over to you. I just want you to think that I was gonna forget about it there. [1:20:18] JD: No, I appreciate it. Yeah, we have a exciting lineup. The same great agenda that we'd have it live, but it's going to be virtual. One session per day at 3:30. Apparently it's in a really loud river. [1:20:35] Chad: Yeah. [1:20:35] JD: We had a great intro video. [1:20:36] Chad: There you go. [1:20:37] JD: So yeah, thanks to Brandon for making the intro video we have set up. But yeah, great content, lots of advisors. Going to be quick, efficient, to the point as all of our sessions always are. [1:20:48] John Sullivan: Just like retireholics. [1:20:50] JD: Yep. Register at excel401k com and you just have to register for each individual session. So it's gonna be great. Looking forward. [1:20:58] Jake: And it's. [1:20:59] JD: How much is it? $1,000 per session. We reduced it to early bird special instead of 950 bucks. It's gonna be complimentary. It's gonna be free. Free, free, free, free, free, free, free, free, free, free, free, free. Thank you, Bryant. I can't wait to see that all plays out. It's. It's gonna be really cool and I'm excited to see what you guys do with it. Advisors, Check it out. Get on it. It's been a wonderful show. Not really. It's been kind of a shitty one. But it'll work. [1:21:29] John Sullivan: Come on, man. Doing this. Thank you. [1:21:33] JD: Checked another box. [1:21:34] Chad: Brandon, play some music. Hey, by the way, John is our first co host. Have we had any other co hosts? [1:21:39] JD: JD no. [1:21:42] Speaker G: Can I apply? [1:21:44] Chad: You can't. We're taking applications. [1:21:46] Speaker H: Send application. [1:21:46] Speaker G: I'll send an application. [1:21:47] John Sullivan: Long list. [1:21:48] JD: It'd be a lot better than John, I think. [1:21:50] Speaker H: Hey. [1:21:51] JD: What? [1:21:52] Speaker G: Hey, can I be cool like Jake? Then I'm gonna be cool like Jake. [1:21:56] Chad: You both look pretty cool. I don't wear it backwards because I don't look as cool as Jake. [1:22:00] JD: Okay. [1:22:00] Jake: I almost did the show with no shirt on. I was debating it. [1:22:03] Speaker B: Oh, you would have. [1:22:08] Chad: At a front. What did we ever do to these guys? But you know I'm yours and I know your mind. Body. [1:22:39] JD: I don't care what they say about us anyway. [1:22:43] Chad: I don't care about that. Bryant, I don't see a beer. You. Oh, those look sick. Yeah, those look awesome though. I'm gonna have to buy one. Can they come in? Jake? Huh? When's your next club snaps? When your next club Next year. [1:23:39] Jake: It's supposed to be next week, but Excel, I'm trying to like rearrange because I don't want to mess up the schedule of that. [1:23:45] Chad: All right, cool. [1:23:46] Jake: So I'M going to do a deep dive in PEPs because I want to see if I get JD on there and for the. Not PEP and then someone for pep. And I want to have a battle with a few people. [1:23:59] Chad: Hey, JD's. JD's coming to the dark side a little bit. I had him on a couple calls last week and he didn't burn. He didn't burn anything down afterwards. [1:24:10] Jake: I still. I'm having a lot of talks about it, but we'll see because I've got an association. I'm the Idaho Medical association, and I've been trying to. To figure something out for years, and a MEP never has worked so well. [1:24:22] Chad: He. He will not argue on an association map. He thinks that that's where it fits real well. Did anybody see the comments we had with the folks from ASC on Pet Map? Because ASC is our document provider. And so jd, he tagged me in their release that they're offering their Met program for asc. We immediately got emails from them like, hey, look, we're doing all these great things in a Met Pep space. And my mind went to, I wonder what JD is doing right now as he's reading these emails because he is so Vietnam against it at this point. I imagine he's burning his computer. You seen [1:25:04] John Sullivan: Pete Swisher's Napa? [1:25:07] JD: Yep. [1:25:08] Chad: I signed up for it. [1:25:09] John Sullivan: Yeah. Pep talk. Like, how did I not think of pep talk all these years? Is everybody been thinking pep talk? [1:25:14] Speaker G: I think that Nevin thought about that title. Yeah, Nevin probably did. Yeah. [1:25:19] John Sullivan: That's so obvious. Why haven't I come up with that for a title before now? But anyways, that's my contribution to the discussion here, guys. [1:25:27] Chad: Yeah, I signed up. [1:25:29] Speaker G: I'm gonna skedaddle. You guys, thank you so much. It's been wonderful. Cheers to Zart. [1:25:35] Chad: Cheers to Zart. [1:25:36] Speaker G: Sherry, my little man. Yeah. Sorry about your loss, Jake. Congratulations. [1:25:41] Jake: Thank you, Sherry. Appreciate how you do. [1:25:43] Speaker G: And I don't know if you checked out the chat, but I want to let you know something. Interns, you probably know this already, that interns have a high rate of suicide and black female interns have the highest rate of suicide. So perhaps it's about the expectations that everybody places on them and the issues that they deal with with their finances. So if you want to talk to an intern about the issues that black women face, I'd be happy to connect you. So let me know. [1:26:12] Jake: Yeah, that'd be awesome. [1:26:13] Speaker G: Awesome. [1:26:15] JD: Hey, also, Gary podcast is coming out in a couple weeks with Ross. [1:26:19] Speaker G: Cool, thanks, Bryant. See ya. [1:26:22] JD: That one. [1:26:24] Chad: All right, good night, you guys. [1:26:25] John Sullivan: All right, guys, we'll see you. Thank you very much, buddy. [1:26:29] Chad: Have a great weekend. See you, Brian. Thanks for jumping in, buddy. See you guys.