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“Reading is to mind as exercise is to the body.” |
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Greetings,
Welcome to this week's Advisor Training newsletter. Our goal is to provide training, education and insights for those who adhere to our counter-cultural and sometimes counter-intuitive investment and business philosophy. |
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Main event: Days-to-VA-Income-Anniversary and Days-to-birthday calculator.
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Brief summary of Epiphany #22: Run Your Business on a Weekly Schedule.
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Review of Nick Murray Advisor Newsletter July 2025
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Review of last week's quiz
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Updates, News and Announcements
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and much more...
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Prologue from Nick...
Its main theme is the more or less instantaneous round trip of the Tariff Trauma, and the complete destruction that falls on our clients if we let them get sucked into the apocalypse du jour. I maintain that the most potent antidote we had in this panic attack – and indeed will ever have – was the polite but firm refusal to be drawn into an intellectual/analytical discussion of the tariffs themselves.
The outcome of any current crisis – of which by my count this is the seventh in 25 years – is always unknowable in advance. The positive outcome of our plan for our clients is (at least historically) always assured. The great gift, for advisors, is the ability to refocus our fearful clients on the latter.
Elsewhere, Client’s Corner attempts to strike a blow against declinist financial journalism. And for the first time in many months, we have three Ask Nick inquiries the responses to which should be of general interest.
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"How do I use social media to get more client referrals?" |
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- Open LinkedIn.
- Send all your clients a connection request over LinkedIn.
- Open a client's profile page.
- Scroll to the bottom of it.
- See where it says "Recommendations" at the bottom? Check out who wrote them a recommendation, or who got one from them. This usually indicates a relationship or trust, closeness, a shared history.
- Ask your client if you can ask that person to connect.
- If they say "yes", then connect and try to develop a relationship with them.
Social media gives us clues we didn't have before; there is transparency about who is in your client's network and that knows your client well.
You don't have to guess anymore. You can find out yourself and (with their permission) build a community around you and your client. |
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#4 ― Introductions / Referrals |
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Get 1 - 2 quality introductions / referrals from each client. Not 100, or 25 not even 10. But not zero, either. If you don't get good at this and don't do it consistently you will be out of business soon. |
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177 Mental Toughness Secrets of the World Class by Steve Siebold
Is it possible for a person of average intelligence and modest means to ascend to the throne of the world class? The answer is YES! |
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“You don't build a business, you build people, then people build the business.” |
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We have a sensible recruiting philosophy. It's not MLM and not “corporate”. It works the way you would expect. It’s “common sense”. We won’t change the system after you’ve built your team and cut you out. We won’t steal your reps from you. If you want to build a team of one (yourself), or five Advisors, or 100 Advisors - that’s fine. We will support you and always give you the override.
Our system is simple, elegant and fair ― the override is simply the difference between your contract level and your downline’s. It only changes if you and/or your downline get promoted, but we will never manipulate your team or fuddle with your overrides.
We pay overrides on Securities, Advisory, Life Insurance, Living Trusts and all other products that we market. |
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Does a Roth 401k have Required Minimum Distributions (RMDs)? |
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Answer = 2 No
Roth 401k accounts are no longer subject to required minimum distributions (RMDs) while the account owner is still alive, starting from 2024. However, beneficiaries of Roth 401(k)s are still subject to RMD rules after the account owner's death. |
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Michael Paulding Thomas
Securities Principal & Advisor Development
Over three decades of training part-time and full-time financial advisors. Developed 2 $200k-earners, 10 $100k-earners, 15 part-time $50k-earners and built a $1.6M revenue sales force.
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