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Episode: The Guide is Not the Hero: Financial Advisors and the Power of Storytelling with Aaron Klein
Pub date: 2021-10-19

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Aaron Klein is the co-founder and CEO of Riskalyze, the organization that invented the Risk Number, empowering the world to invest fearlessly. Under Aaron’s leadership, Riskalyze has grown to serve thousands of financial advisors and has been recognized by Fast Company Magazine as one of the world’s top ten most innovative companies in finance. InvestmentNews has named Aaron one of the industry’s Top 40 Under 40 executives. In addition to his responsibilities at Riskalyze, Aaron actively performs humanitarian work. He has co-founded and serves as a board member of Hope Takes Root, an initiative to serve orphans and vulnerable kids in Ethiopia, and serves on the board of Invest in Others, an organization that supports financial advisors who give back to their communities.

Aaron joins me today to discuss how financial advisors can harness the power of storytelling to foster their connection with clients. He describes how the impetus behind Riskalyze started in a conversation between friends. He defines what the “red pill” principle is and shares the different personal routines he maintains to help him balance his time between family and business. He also discusses how clients seldom make long-term decisions, highlights how social media can be used for positive outcomes, and underscores the relationship between storytelling and good selling.

“Painting yourself as the hero instead of a guide leaves your clients as a spectator. You can’t be a successful financial advisor until the client takes an active role in the story.” - Aaron Klein

This week on The Model FA Podcast:

Aaron’s backstory and why Riskalyze made a pivot to the B2B space
The “Apollo 13” question and how Riskalyze started as a conversation between friends
The “red pill” principle and the difficulty and wonder of being an entrepreneur
Mindsets and personal routines that help Aaron stay positive and persevere through challenges
Unlocking the secrets of powerful storytelling
How clients make short-term decisions that serve as fuel for their long-term vision
Using the C3 list to commit to the process of success
The law of diminishing returns in social media
Using capitalism to pull people out of poverty

Resources Mentioned:

Book: What Great Salespeople Do: The Science of Selling Through Emotional Connection and the Power of Story by Michael T. Bosworth
Book: Working Backwards: Insights, Stories, and Secrets from Inside Amazon by Colin Bryar and Bill Carr
Book: Amazon Unbound: Jeff Bezos and the Invention of a Global Empire by Brad Stone
Book: The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers by Ben Horowitz

Our Favorite Quotes:

“There are ups and downs and ebbs and flows in the entrepreneurial journey. It’s important to have an aspect of your life that’s foundational and stable. For me, that’s my personal routine.” - David DeCelle
“A start-up is a process of learning. It’s about how much tenacity and drive you have to extend that learning experience long enough to get you to the other side.” - Aaron Klein
“Ensure that the client feels educated and empowered to make decisions that can save themselves.” - David DeCelle

Connect with Aaron Klein:

About the Model FA Podcast

The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams.

Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered.

Our Team:

President of Model FA, David DeCelle

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The podcast and artwork embedded on this page are from Model FA, which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

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The Guide is Not the Hero: Financial Advisors and the Power of Storytelling with Aaron Klein