How to Choose a Financial Advisor with Brad Barrett

Start with the fiduciary because that tells you right away there's something called a bic. It's a. It's a best interest of client contract. This was basically in 2012 when the Department of Labor came out and basically revamped the whole thing, which, by the way, was way overdue.

Welcome to the Next Level Income show, where it's our goal to take your income, your investments, and your life to the next level. I'm your host, Chris Larsen. If you haven't yet, get a copy of our book for free at our website, nextlevelincome.com. that's www.nextlevelincome.com. just click on the book link and I'll even send you a copy if you put your address in. On today's show, we have Brad Barrett. Brad is a managing director and partner at One Capital Management, a private wealth advisory firm managing $5 billion in assets. With nearly 20 years in the financial services industry, he is passionate about finding new ways to educate investors. He shares his knowledge and experience through his weekly YouTube podcast and radio show, make youe Money Matter, as well as his book, Retire. Right. Brad, great to see you again. Welcome to the show.

Oh, it's good to see you, Chris. Thanks for having me.

Yeah, yeah, it's my pleasure. I'm really excited to have this conversation with you today, Brad, because we were talking before the show about the healthcare system in this country and. And how, frankly, in my. In my personal opinion, it's. It's broken in so many ways. And I really think that, you know, the financial situation, you know, with respect to, you know, the, you know, financial planning, if you can call it that, for most people, it's broken in a lot of ways, too. So I'd love to dive deeper in that. But before we do, I'd love for you to share a little bit about your background with the audience.

Yeah, no, again, appreciate having me on. You know, I'm your good old financial advisor. You've been doing this, I guess, 18 years now. And what's unique that I like sharing? I think on our show, we share with our clients. We share it. Here is. This is, like, for me, I can only speak to me, right? This is all I've ever done. A lot of people come into the financial advisory space or different investment spaces having previous backgrounds. I know we spoke even. Most people do. Right. Even for you with a previous background in medical sales or something like that, I believe. And that's very common. I share that. For me, simply to say that I kind of live and breathe this stuff because. And we'll talk about a little bit today, and what I share is, behaviorally speaking, for all of us, there's something cathartic in life that leads us to purpose. Whether that's, you know, doing something as a job, leaving a job, and doing something different for your purpose. And for me, in our world, when I was 16, you know, my company worked for 20 years, went bankrupt out of nowhere, lost everything. And, you know, I'm 16 years old, I got two younger sisters and not really knowing anything, right? You're 16 years old. I'm just kind of a mad dude at that point. And I, to this day, I'm not sure what I said, but I walked into a local bank and I'm like, I want to learn two things. And I said, I want to learn everything about money to save myself so it doesn't happen. What happened, Father? And then two, right then and there, I think God touched my heart and just said, that's your purpose. I want to do that for others. And 18 years later, here I am. So almost 20 years now, I guess. And our firm, One Capital Management, it's been a blessing here. We, we, you know, we're growing to. We're about $5 billion in our assets with 2,000 clients across the United States, even in Canada as well, and 85 plus employees, multiple offices here in California, which is where we're headquartered out of, and one in the Midwest and Kansas City area. And blessing, we're able to serve a lot of people and help them plan out what I think many people get wrong around money, right. Which is kind of grow, grow, grow without really understanding what that growth is doing. And I think that's where kind of the rubber meets the road on anything we would talk about and what many people out there are watching or listening, you know, focus on.

No, I love that. And you know, one of the things you mentioned, Brad, I have had a similar experience. I watched both my parents lose their jobs in the real estate industry back in, back during the savings and loan crisis. And, you know, really had this profound impact as I, as I look back on it. And, you know, a lot of these experiences in our lives have an impact about the way we look at money, about the way we handle money.

Not everyone studied. Yeah, it's, it's studied. It's, it's something I talk about heavily in our practice. And it's, it's the concept of behavioral finance. Right. The emotional side of it. And in fact, I just recorded a, a show this morning it's coming off, too. And I, I kind of out of nowhere. I hadn't written this down, Chris. I just kind of said, you know, in my experience, Investing is basically 10% intellect and 90% your emotion. You know, you may look at someone, you know, acting like he knows what he's doing, but I promise you, the only way that that actually works, whether you believe in it or not, is if you actually stick to it and don't let the noise of the world, you know, get around you. And, and when you look at the studies around it, there's. There's really two forms of behavioral financial items that we see, and one is the DNA, Right. Like, you and I know everything that's in our DNA, no different than the color of our eyes. Like, the whole nurture nature thing, that's just who we are. So understanding who you are as an investor, who you are relative to your money and what you're doing with it matters equally as much as the second part, which we just talked about, that's the circumstantial. The stuff that we through the good and the bad, I mean, those are all very. I would actually argue in my practice of discovery meetings with clients that I would say even the circumstantial tends to be the shift changer in many people's lives. Like for me and like for you, we see things through our parents that, you know, God didn't necessarily intend for that to happen when I was born, my eye color, but he said, like, okay, my family's gonna go through that. That had an impact on me. And so, like, you know, I think for anyone out there, you know, really understanding your relationship to who you are matters a lot as you bring it into the world of money. I mean, yeah, you know, there's right or wrong, there's three things that we keep close to our chest. Politics and religion. It's like, I talk to people all the time about this. I'm like, hey, look, I understand. It's a. It's a very, like, almost voodoo subject matter. But I'm telling you, understanding who you are is as important, understanding what you're doing with your money because they're, they're an intertwined concept.

I love that and I really appreciate what you just said. Talking about money, politics, religion, people aren't comfortable talking about these. But I think it's so important to have, whether it's a peer group in your life or somebody like yourself who's an advisor or really a coach. And I think that's where a lot of People hear financial advisor, financial planner, and they think like salesperson. And I talk about in my book how the average financial advisor brings value because your typical investor, and you may know these stats better than I do, Brad, but vastly underperforms the market. And you know, we're talking like mid single digits or lower or the average returns for an investor. And the reason is they, they buy high and sell low. Right? They don't stick to the plan. And I see it a lot like having a coach when you go to the gym. Like, I don't need a coach to go to the gym personally. I go to CrossFit. We have a group coach. And I asked my boys one day, I said, my boys are 11 and 13. I said, guys, you know why I go to CrossFit? We're talking about, you know, the importance of sometimes doing things that you might not necessarily want to do. They say, well, because you like it, Dad. I said, no, I go, because I, I don't like it. They make me do what I don't want to do. And they're there to remind me, proper form, you know, stick to the plan, you know, you know, all these things that I don't want to do. And I think what, what you and your group do are very similar, Brad.

Yeah, and actually to that point, I mean there's, every year there's something called the Dalbar report. Yes, that's exactly what I'm referring to.

Yeah. Thank you.

And it's funny, the one that just came out, it comes out basically usually end of the first quarter of the new year and the one that came out December 31st, and I just wrote some stuff on this, speaking about it. And this is interesting to your point. I always tell people, like some people say, I, you know, you ever had that conversation with a client or someone like that? It's like, I don't like the market. And I'm like, we as humans don't like what we don't understand. It's not that we don't like it inherently. It came from somewhere. And so I tell, I said, we don't have a market problem, we have a human being problem. And the dollar port kind of shows, basically it's a quantitative analysis to exactly what you spoke about in your book, Chris, around how we relate ourselves to what just the market is. And here's basically as of December 31st of last year, if you invested in The S&P 500 like 30 years ago, they run a 30 year average, right? And you lost your password or just fell asleep for 30 years. Right. Have earned right over just over 10% annually every year. Now the average investor in that same time period earned about 3 1/2 percent.

Wow.

The average person, you and I, without an advisor necessarily. There's no quotes on this, but this is where kind of keeping with the plan comes in three. And now I'm going to give you another step to go with that. Even ending of last year, including all that happened in 2022, inflation over a 30 year period was 3.6. I mean they, they didn't even beat inflation.

Wow.

So the concept here is not necessarily of. And I speak a lot of this about this because I'm a, I'm a big believer. Like when we talk about our show, this isn't an all roads leads to one capital engine, which is our firm. It's more of understanding that look, counsel is important. I mean it's biblically based sometimes too. We need people around us to help us go further. We need people around us to help us stay on the course where we are at. And I, and I, when it comes to a financial advisor, I think it's sad. And doing this for nearly two decades, I think in the past, probably 10 years, this last decade, more so than ever before. I think we're getting out here with this notion of like advisors or salespeople and bad. And don't get me wrong, there's a lot of bad apples out there. I'm not going to argue that by any means, you know, but it's understanding really three things I think you should look for and it's, it's finding someone who's a fiduciary, which basically that's a big word that came out in the past 10 years, which has been around forever for us, which is.

All right, so let's, let's underscore this point because I think this is actually when I set my stepfather up with an advisor, the number one thing I look for. So the three things you should look for in a financial advisor.

Three things.

Number one is a fiduciary.

Start with a fiduciary because that tells you right away there's something called a bic. It's a best interest of client contract. This was basically in 2012 when the Department of Labor came out and basically revamped the whole thing, which by the way was way over my opinion here at One Capital Management since inception, since early 2000s. That's been our M.O. since the get go. Like you didn't. It's kind of funny, right? You didn't have to tell us to do right by the client of knuckleheads in this industry that we had to come out and say, you got to do right by the client. It's like, dude, but number one is fiduciary. Like that's. It just sets the mark, I think, on. Just sets the mark on who you're working with.

How do you know if a financial advisor is a fiduciary, Brad?

First thing you want to do is ask them, right?

Okay.

Because they, under SEC law, share with you what they're doing right now. The way you look at it, I mean, you got to go into. There's not many. There's different types of fiduciaries too. There's different types. You want to ask them, clear in point, how they work not only as themselves, the advisor, but also their house, their clearinghouse. Right?

Okay.

And really there's three kinds of advisors. So there's three things you want to look at for an advisor. One is the fiduciary, but there's three kinds of advisors. Really important for everyone to understand too. Right. There's the wirehouse cats, like the old school, 80s brokers who are still making trades. Right. Think, think big companies in that regard. Then there's this world came around about 20, 25 years ago called IBD, right? Independent broker dealers, right. We know them as like Ameriprise, Lydenberg, Thalman Securities America. You could probably put in Ameriprise and Edward Jones in there, even though they might differ on that. But basically it's like saying, okay, I'm Brad Barrett, but I clear through XYZ Company, right? So I'm independent, but I really a big daddy who's looking over me.

And you usually see that at the bottom of somebody's website, right down to the bottom person.

Yep. On the back of their card, they have to write it there. They're domiciled under finra. So it's a whole thing in that regard. The financial industry. God, I don't even know the acronym. National Registration, something like that, right? Look it up. Finra under finra. And the third part is what's called ria, Registered Investment Advisory. So there's three. There's Wirehouse, there's Independent Broker Dealer, and there's ria. We just speaking about us, One Capital Management. We're an R A. We've been away since inception. To me, that's basically we're domiciled directly by the sec. We clear right through them. We are as independent, in my opinion, as you can get in the sense Of I have no boss, I got no people coming in saying I got to, if I allocate your portfolio, I got to put you in certain funds because you know, my company has a relationship with them. Like those are all things that are good tell signs of incentives or who's working for who kind of thing. I think that's really good as you're looking at things. And that gets you back into the question about fiduciary, right? You kind of what kind of advisor you want. And then if you find the one you want that you're comfortable with going to ask them the three things you should look for starting with fiduciary. The second one I think would be experienced. These are not necessarily any order but, but experience. You want someone who, I mean, I'm not saying someone who's five years into the industry is not good. I'm just saying you want someone who has some experience going down the roads that you're going to be needing. Right. So that's also a checkpoint for people to say, what am I looking for? Am I a business owner? Am I an employee? Am I an entrepreneur? Like what kind of a invest person am I am. And that's kind of where I want to help Ask my advisor has experience there, right?

Yeah.

And then thirdly I would say is credential. You know, you want to make sure you find someone that has, you know, a cfp, a certified financial planner, maybe a cfa, a chartered financial line. These are all very sought after designations, not easy to get. I think what that does Chris tells, it tells a client that they're investing in themselves to better help you as the client. Mind you, there's also something to be careful of here. You also don't want to find someone with Alphabet behind their name because likely spending more time in a book than they are in the real world. So be careful. There's a line, right? I've walked through a few guys who have like 16 designations. I'm like, do you do anything or are you just, you know what I mean?

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Yeah, not even that. There's, there's like three month education courses and putting letters behind their name and it's like their name followed by like three sentences. It's like, okay, guy, easy. You know, and again, I'm not saying that's bad. I'm just saying you want to find someone who's experienced and fiduciary.

You want the right blend. Yeah. And look, that's. We see the same thing in the surgery world. You know, I used to, you know, work in hospitals and the ORs. You want a surgeon who's well trained and also has experience that hasn't been out for so long that they don't know the new techniques. So you want somebody, to your point, that, that has experience that you can relate to, that is a fiduciary and also has enough credentials that they have, you know, a base baseline of education like we were talking about. I think that's, I think that's wonderful.

Yeah. And I think, you know, to your point earlier too, about all that being said when you find that person. And I, I would say this for anyone out there watching and listening, like, make sure that the world, the noise that's out there telling you the DIY world, again, not saying that's not right for you, but just really ask yourself, are you the best person to be investing your assets? Are you the best person to be planning out your future? Because are you at war with yourself? So we talk about emotional investing, right? And it's one of those things that I think that's the biggest deterrent to actual growth and wealth building is your own emotions. Right? It's the old saying, right? It's not the, it's not the water around a boat that sinks. It's the water that gets in. And so you got to ask yourself, right? It's like, how much of this. And by the way, tell me, in this past 15 months, we haven't had more noise than anything else.

Oh yeah.

We tend to as investors, whether you're real estate investors, whether you're market investors, commodities, doesn't matter what you're looking at, we tend to very much get myopic during volatile times. And there's a reason for that. There's scientific reasons for it. I mean, if you look at the philosophy and the psychology of how our anatomy is, our brains are wired to protect us, not necessarily enhance our lives. And so when we go back on the grooves that we've shifted through our lives, whether that's DNA based or circumstantially based when it comes to our money, we're going to revert back. Fear holding. Oh my gosh. Okay, for example, everything's going on like this. You revert back to 2008, right? The Hangover, like, oh, it's going to happen again. Or 2013 with government shutdowns area, or 15 with Brexit, or 2020 with a pandemic. I mean, you can, your brain can go all different ways, right? And so it's really important to let that out with someone, someone who you, someone who understands you've been open with. Because it is a, you know, we go through our clients. It's a financial undressing. Speaking of the Dr. World, right, you're going in for like that financial physical, you. It's not the most comfortable thing. I get that. And that's why we want to prepare and be like, look, you're in good hands. This is between you, me and the wall. This is important. But when you build that relationship, the value that an advisor can bring, it could be as simple as talking out a fear that you're having with what's going on in the world, all the way up to making an investment decision that you run back on the planet. Not be the most numerically sound, but we walk through it and it's something that you want to do. I have countless conversations like that left and right. And it's funny, Vanguard a couple years ago just did a. And they actually tried to, I think quantitate or numerically base value of an advisor and their whole notion you can look this study up, look up the value of an advisor. Vanguard, I think it was Russell Investments did one too. And it was basically around 3%.

You pay a percent percent and a half and you return about 3%. Yeah, that's.

And, and that's just on the value it's not necessarily the portfolio. And they broke it down into three categories, Right? One, which you hit on, Chris, is totally right. It's behavioral coaching. Right? That's. And by the way, of the 3% buildup was 1 1/2%. That was the largest one that had value. Bringing it. And so funny. It's like, how do they quantify that? If you look at the study, they went through a whole bunch of numerical measures and tricks. And again, it's subjective to be fair, but I know from experience that it's kind of like in baseball, right? We're in baseball. See, it's like a checkoff, right? It's the no go, the go, no go, right? You're seeing a pitch coming in, you want to hit it because it looks like it's there, but you end up, you know, not swinging. And it's high. You get the ball, right. A lot of times our investing world is like that. We get really hot to trot. We want to do something because a buddy talked about it or it sounds really good, or some guy's really salesy and he could sell ice to animal, and you know what I mean? And it may not be. It might be fine, but it may not be right for.

For you.

And you won't know that unless you work with someone who has a plan and you can trust them and say, hey, hold. I want to talk to my guy. Just make sure, you know, it checks out.

Yeah, I think that's a great point. Yeah. It's like going to the grocery store. If you don't have. If you're on a list and you stick to that list, you know, you're gonna like, I. I got my Whole Foods rule. So if I need. If I need a few things, I don't get a bat. I don't get, like a little basket, because if I do, that basket's full by the time I get out. If I need enough for, you know, a couple dinners that you got the little basket. I don't ever get the shopping cart in Whole Foods because you walk out of there, it's like 500. I don't know how. How the heck. How the heck.

It's called whole paycheck.

It's whole paycheck. It's. It's crazy, right? So I gotta. I gotta restrain myself. So, you know, maybe you can come with me to the grocery store, Brad, and help out.

Well, you know, in that same. In that same light, right, Chris? It's like, you don't want to go shopping when you're Hungry either, you know?

Exactly.

Same concept. Yeah.

You got to know yourself. Absolutely.

Got to know yourself. If you're coming to the table with an investment and you're seeking it and you're doing it from. This is going to sound like a terrible word, but like a greed standpoint. Like, you just want to know, oh my gosh, it looks good, but you don't contextualize. Like, why are you doing this? Investment. Like, what is. And I, I will, I will share this. In 18 years of doing this, when I get the chance to talk with a client and, and about something like that, we really drill down and we find that it's mostly that they're in a weird spot in their life. Something might have happened in their relationships recently or something like that, and they're, they're. Their ego's in check and they just trying to, they're trying to. They're trying to do something and move something forward, but it's the wrong thing to do. And it's interesting. It ends up talking about investment but moving into something totally different. And when we able to talk that out, they're able to see for themselves. Like, I'm not necessarily. I always share this with clients. Like. Or tell you any good advisor should never tell you what to do with your money. Like, that's really key. It's your money. You're in control. You're in the driver's seat. You're hiring this person to be your co. He can tell you what to do and how to do it. It's up to you whether you want to listen or not. But a good co pilot will help bring back questions and why. Call mirroring questions, right, to filter what you're saying, what your mind saying, what your emotions are saying, and just make sure that it's real to you. That's. I think a really. A good advisor can sit kneecap to kneecap and do that.

I think that's great. I mean, you've given the audience a great framework. Brad, what to look for in an advisor. The top three things there, you know, the importance of behavioral finance, really understanding, you know, the emotions behind these decisions and making sure that your advisor, your coach that you're working with on your money understands those pieces. But I'd like to get kind of into kind of some shop talk here. We were talking kind of prior to the recording here. There's been a lot of kind of crazy stuff going on, kind of unprecedented in the financial markets. I've read things like the 6040 portfolio is dead. So, you know, the traditional 60% stocks, 40% bonds. There's been this rise in which I kind of chuckle every time I hear it or say it in alternative investments. And those of us that fall into the alternative world, like real estate, a lot of my peers are like, oh, I wouldn't invest in the stock market. And then you have advisors, you know, where people in the traditional financial world that say, oh, I would never invest in, in real estate. That's too risky. And it's just funny because, you know, I have a, my MBA is in portfolio management. And I kind of look back and forth at the different sides. I'm like, how, how are we, how are we looking at the same picture here?

How are we this far off?

Yeah, exactly, exactly. And then, you know, I always said, okay, well, if you look at what, you know, pensions are doing, endowments are doing, family offices are doing, they fall somewhere in between there. How does your firm handle that? Things like alternatives, Brad. And you know, what are you seeing and what are you doing with your clients to address, you know, the. Well, now bonds have come back in terms of returns, but, you know, we were at really high stock levels, really, really high bond prices, low bond returns. You know, what are some things that you've done here in the, in the recent past with your clients and your firm?

Yeah, you know, great question. I know we were kind of talking about this a little prior too, and I think for us it starts with a process. I want to start there. It's important, you know, for our first initial conversation with a client, what we call our discovery. And really we're getting numerical data, quantitative data. We're understanding the numbers or incomes or outflows, their debts, their portfolio or, you know, what kind of accounts they have it in. Right? That's all important. And equally as important, we're talking about the qualitative, right? Their interests, their goals, their hobbies, their relationships, their values, like all those play together, right? When then what we do is we end up going and building what we call a wealth forecast. It's called our black book. You know, we're, it's literally black. It has our colors. Obviously, very creative here. But that, that is essentially a, a wealth forecast that aligns what they described to us in the discovery meeting from a cash flow basis. First, understanding their needs. A needs based analysis. That's really important, right, to talk about. Because when you get into the investing world, I think what we get backwards a lot is that the advisory world, to have the investment or the portfolio be the tail that wags the proverbial dog when it should be the other way around, right? It really should be more about understanding the context of what your, what your money needs to do and then building a portfolio around it. Right? It's the concept of like a stock or an investment talking about a engine. But that engine could be sitting on your lawn looking all pretty, but if it doesn't have a chassis or tires to run on, it's going to go nowhere. Right?

Great point.

So I think we start there building the plan first. When we get into the diversification model and we get into the. We're your, we're your long money manager, right? And we're your diversifier. We're a global asset allocator. So we use, you know, right or wrong, we're in a big bad world there, you know, so having international exposure, especially nowadays with this talk lately about the US dollar and stuff like that that's going on. One way to get around that is invest internationally, right? I mean, look, by the way, this bricks thing has been going on since 2010 too. This is not a new phenomenon if you look at context, right? But diversification, to us, I know it's, trust me, I'm where it's probably the most boring word anyone right now is tuning out. Like this guy. Yeah, typical advisor, right? But here's the thing, guys. It, it works. Look at studies, look at actual pragmatic empirical data on this. There was actually a study that just came out recently through BlackRock that actually did a show on, in fact on our show, the maker Money matter show. If you look on our show called Is the 6040 model dead?

Oh man, you nailed me. I gotta go. I gotta listen to that.

You can look at that. And it's gonna have a lot of little tidbits here, but I went through a whole thing of like how it feels to be an investor, right? You go through the early 2000s, feels pretty good. Or you know, right after the tech bubble, feels pretty good. Then you get, oh wait, it was not so good. You got a recovery. Feels pretty good. And then, you know, you get into government shutdowns and Brexit, not so good. You look at the whole diversification. If you look at that model over the just 20 years has actually beat out a full index model, right? Because of volatility, because of what we call risk drag, as you know, right. That's important for portfolio design and controlling your risk or your standard deviation or your risk in your portfolio. Right. And so when we talk about things like alternatives and I talk about the word diversification, you know, we diversify across the board. We have clients that we definitely do management with, where we're diversifying internationally, small, mid large, all that good stuff. Right. Even into REITs and those kind of structures. We do the traded ones because I like to be a little more liquid for most of my clients assets. We also have allocations for certain commodities. We have allocations for true. What we would consider alter investments. Right. Not this word. That's out there everywhere, whether that's private equity deals, different things, like those kind of structures, even into real estate kind of environments. You know, one of the that we were sharing before, that we bonded on was I think a lot of times in our world, you're either a market person or a real estate person. And I'm like, no, you can be both. Okay. And actually, I would actually argue that that's important. I mean, you think about real estate, that one sector, there's multiple kinds of it. There's primary rental, section 8, raw land, commercial. I'm speaking in your world fully, right?

Oh, yeah.

It goes on kind of defining what kind of real estate you're doing. And I would argue if you look at the 2000 or so clients we serve, a good portion of their net worth is in real estate because at least they have a primary asset. And for most of Americans. Right. The largest asset they own is their home.

Yeah.

So automatically you're in real estate. So the idea of being market related is to diversify yourself throughout, you know, and to make sure that whatever you're doing, whatever you're investing in is working towards the goal you want with your money. And that's, that's where you get into the whole world for us of custom tailored these overused words, but building it for you, not for someone else. And so through our process of discovery, wealth forecasting, we then build a portfolio, aligning the type. It's always, you know, not always what you own, but how you own it too. Right. And have things in an IRA that I might have in, let's say a trust account because there's tax involved. Right. Different reasons then you get into. In our world, we have to deal with everything from soup to nut. Right. They're also getting incarcerated with legacy planning and estate discussions. And what gets passed down efficiently, what doesn't gets passed down efficiently. By the way, I'm a huge fan of real estate on the Passover Act. Right. Because that's. That and insurance, whether you like it or not, are the two best things to pass down to your heirs.

Like, oh man.

So step up Basis, man, that's a beautiful thing.

Exactly.

So anyways, you know, you got 1031 environments inside there. You got all those kind of good functions to work in there, so it should be a part of it. And I don't know if you would classify, I would personally. Real estate as an alternative. You can structure real estate inside of something that might be considered an alternative asset class. But I think you look at the whole picture of a nice color pie chart, the fact that the 60:40 model is dead thing. I think you're discounting discipline in those discussions and you're discounting.

We've seen it come roar back too in the past year. And I think this kind of takes it full circle as you were talking about, you know, the importance of, of working with a fiduciary. And you know, I think I would say, I would Even underscore the RIA portion, which is, you know, some of these IBD's, the independent broker dealers that, that you mentioned before, they're restricted. They not only can they not recommend things outside of, of what their broker dealer offers like, like real estate, but they can't even invest in them by contract themselves. And I think that's what you know, if, if you're an investor and you're working with an advisor and you are a fan of say, real estate, and that's one thing you should ask your advisor. Hey, can you recommend this? Are you allowed to invest in things like that? Because like you said, Brad, if you don't understand it, you're probably not going to want to invest in it. And if your advisor doesn't understand what you're investing in, then that might not be a good fit. And that really is one of the big reasons that we had you on is because you have a fairly unique view in the advisory world. And I'd love to share your show, your podcast that you have and how you share more with your audience as well as your book that you have sitting there behind you as well.

Yeah, yeah, I appreciate, I mean the, the make your money matter show, which is our show, was kind of born a couple years ago. We have a radio show out here in the northern Los Angeles area. The podcast started about three years ago and about a year ago we just the audio into digital format and had a show around it. So it's been where we got, we got connected and it's been successful to be able to share our philosophies of an investment advisory group. You know, being out there in the public and making sure we're talking about Concepts that are being asked. And I, I'll say this, the, the idea, the concept of it was really boring. When I went into my, one of my partners meetings, I told the guy, I'm like, I do, I'm tired of being the unknown expert, you know, because we know what we're doing. We've been doing it forever. All of us have been doing it for a long, long time. You know, we're basically at it, we should be sharing it. And it's kind of like the fitness world, right? Some 25 year old telling you how to eat and work out. I'm like, call me when you're 40 with two kids, buddy. It's the same thing here. I see all these guys, I'm not trying to be, then trust me, we are not. That's not our goal. But I want to basically put in some truth into this world and be like, yes, that's right in theory. But you actually have to follow through with it to be, to have it work for you. So there's a lot of this world in social media, this world in YouTube that we wanted to come out and be like, look, we want to be that sound voice, that sound advice to help those that want to be helped. And, and to know there's a, a financial advisor group out there that actually cares. You know, not trying to sell you something, just trying to show you what we deal with for many, many years with clients that are working with One capital. And we want to share that on our show. And two years ago I wrote a book called Retire right and it was obviously a pun on retiring the right way. And the right way is defined by you, by an advisor helping you in the discovery process, figure out your why. And the first chapter, I actually go into my story more into, you know, my really going through what happened to my father. And he since made himself back. So this guy, I revered my life and seeing this happen to him. And I think a lot of clients ask like, you know, we all are scared about losing everything, right? And I share with them like when it's, when it's appropriate. I share. I've been there. I've, I've seen it. I know what you're talking about. Trust me. My job and create. My entire purpose for me being here with you is to help make sure that that doesn't happen. And that's where you get into the boring, the boring world of diversification and, but it's not, it works. And it can be sexy if you look at it right and it can grow for you. And build you well. And then ultimately our job is to protect that and pass it on.

I love that. Brad, what is the best way for the audience to connect with you, with you? Learn more about your podcast as well as your book.

Yeah, YouTube. You look up make your money matter with Brad Barrett on YouTube. Right there, I think you can see it right there, I think. Yep. And then our website is always a good place as well. One capital.com you can find everything about us there. You can actually download it, subscribe the podcast, and we would love to hear from you and love to, you know, have you on our show. And. And I appreciate being on here, Chris.

Oh, Brad, we've appreciated having you. Thank you so much for sharing your knowledge with the audience. I've really enjoyed the conversation. Um, we'll talk again soon.

All right, Chris. Thank you.

Hey, Chris, here again. I hope you found this episode valuable. Now I have one more thing to give to you. We have a page for my coaching clients where you can get a free copy of my book as well as much more from previous guests on the show. Just check out nextlevelincome.com coaching to get a free copy of my book, audiobook, and much more. I'll send you a copy of my book and cover all the shipping costs as a thank you for listening to the podcast. Also, please, like, share and take just 90 seconds to give us a rating on Apple Podcasts.