The Impact of Strategic Partners and Clients (Ep. 18)

Welcome to Ideas by Mike, the podcast with Mike Milligan, where you will find one-of-a-kind financial planning advice for your one-of-a-kind life. With over 22 years of experience as a certified financial planner, Mike shares experiences and advice on crafting simple, easy-to-understand financial plans based on your values and priorities. He believes that taking a personalized approach is the best way to prepare for the future and give meaning to your finances. So, follow along as Mike, and from time to time, his guests explore different strategies and tools that could help you secure your financial future in retirement.

Now, onto the show.

Hello and welcome to the Ideas by Mike podcast with your host, Mike Milligan. I'm Wendy McConnell. Well, hey, Mike, how are you?

Wendy, it's great. We're already into 2025, and we're doing kind of a series here on impact, right? What our impact is. And today we got 2 members of the team, Tiffany Saunders and Liz Monday, with us, who we're going to talk about the impact of not only our strategic partnerships, we're going to talk a little bit of clients. Wendy, as you know, there's no telling where this podcast is going to go. We may be talking about the weather, we may be talking about money, but we're going to talk about something that's one of a kind. So I'm excited to get going. today. How about you?

All right, sounds good. Well, now we do have Tiffany, and she is the Director of Growth. So hello and welcome to Tiffany.

Thank you, Wendy. Happy to be here.

All right, you are often at the forefront of building relationships, so can you talk about how partnerships shape the experience for clients?

Yeah, absolutely. Um, our partnerships allow us to bring unique value to clients, whether that's through specialized tools, expert resources, or community-driven programs. So for example, we've been working with a platform called Halo. It's a health optimizer, and that's helped us bridge the gap between financial planning and overall wellness. Collaborations like this make the process holistic. And so it's not just about the numbers and the assets, it's also about the whole life.

And we also have Liz, who is in Client Services. Hello, Liz. Thank you for being here.

Hi, thanks for having me.

Now, how do clients feel the impact of these partnerships day to day?

In short, there are so many ways they feel the impact. We are here to holistically serve our clients and we make an impact in places our clients wouldn't expect. We connect them to people and resources during critical life seasons. We invite them to local nonprofit collaborations. We really walk with our clients through their entire journey of life. I even recently just had a client call and ask for a recommendation for a huge house project they're undergoing. They're doing a withdrawal on one of their accounts for it, and they needed a plumber to do this big house recommendation or renovation. And it turns out we had, we had a person to connect them with to help get the job done. So that's the type of connections and partnerships we have with our clients and really within our community.

That's awesome. I love that. So, Mike, I know you're passionate about the one-of-a-kind life. So how do partnerships align with that vision?

Wendy, the one-of-a-kind life is something that everybody lives. You know, we look to take that one-of-a-kind life that people are building for themselves and create a one-of-a-kind financial plan for them. So instead of having a cookie-cutter assembly line process approach to dealing with clients, We listen to where clients are. We try to help them identify the problems that they see and they don't see. And then we use the strategic partnerships that we have around the industry. Wendy, we're trying to disrupt this industry. That's the key here, is so often when you walk into a big investment company's office or a big financial planner's office, They have a preset set of solutions that they're going to give. Well, I tell the story often, and I've told it on this podcast often, is that there's a lot of people who want to build a dream house, and they'll identify a lot. Well, they could walk into the Home Depot because they got everything you need to build that lot, but they don't do that. You know, they, they go and they sit down with an architect. The architect will say, you know, Let's put your kitchen here. Let's put the closets here. Let's add an extra bathroom, right? And they'll, they'll vision out for them that dream home. Then they go to the builder. The builder then helps them hire subcontractors. Well, the subcontractors then go to the Home Depot to get everything they need to build the house. Well, see, that's the— that, that's like us, right? Uh, Ideas by Mike, uh, where we're trying to create the one-of-a-kind financial plan for people's one-of-a-kind lives. We're listening to people's hopes and dreams and wants and desires, and they could be different, right? They could be to play golf all the time. They could be to travel and touch all 7 continents in a year. They could be to take a one-of-a-kind trip with their family on a Disney cruise, right? We listen and try to help them identify the solutions. Now, our strategic partners, right, when you add up our strategic partners, There's hundreds and hundreds and hundreds of years and billions of dollars that they've put into their processes when you add them up together to help deliver the one-of-a-kind financial plan. And so, that's what the partnership allows us to do.

So, I'm going to call you the disruptor from now on because I love that. That's great.

Let's do that.

Yeah. All right. All right. So, Tiffany, could you share an example of a recent partnership and how it's made a difference?

So I came on in June of this year, and one of the first partnerships that I got to kind of spearhead was with a gentleman out of Maine. His name's Steve Harlow. He's actually been in the business for 30 years, and he was on the verge of retiring and had no plan for continuity when he hit that retirement stage. And Mike met him actually on one of our webinars, and they got to talking. He was like, hey man, let's do something together. And Steve loved the disruptor mindset. And so we've been partnering with Steve since about June. And we've been able to reinvigorate him and his clients in a way that's really going to create a significant impact in the people he's served over those 30 years and their families. So, definitely one of my favorite partnerships. I love Steve. He's awesome. And he really has embodied the mindset of doing things different and one of a kind.

Wendy, I'd love to comment a little bit on Steve also, right? Steve is just a stud of a human being. Right. And I don't mean like in the way of like you think of like the Hulk or, right, you know, Thor from the Avengers. He's a stud from an integrity standpoint, and he loves his wife. He loves his wife beyond anything, right? They've got a unique story that's one of a kind where, you know, like Steve was a ski instructor when he was in his 20s, and Valancy came and, you know, met You know, um, was with a group of girls on a ski trip, and Steve put his eyes on Valancy, and Valancy wanted nothing to do with him. But in his pursuit of what he knew was his one-of-a-kind life, his vision, his pursuit was her, right? And here we are 45 years later, and we have entered their life, and we're learning so much from them, from like how they've lived a one-of-a-kind life. To where we're now helping Steve's friends and family, right? His clients that he's had for 20, 30 years, his fraternity brothers, his neighbors up in little Eliot, Maine, right, in the surrounding areas. And Steve has brought so much energy to what we're trying to do. And that partnership with us, we've added great new clients, but we've extended Steve's career. And we're taking care of the people that cares about him the most.

Okay, so Liz, do you have a standout moment as well, like the stories we're hearing right now?

I don't quite have a story like that. I mean, you can't compete with Steve and Valancy. Love stories like that always pull my heartstrings. I also think there's something to say when the man is interested and the woman's not. That's generally how the love story starts. But for us in client services, one of the new resources that we've added is something called Asset Map, and it's really elevated our annual review process. So it, what it does is it creates a visual opportunity for us to easily identify areas for financial improvement and overall asset diversification. So it even shows the client's financial map within the household. they contribute to. So, you know, if we had the asset map for Steve, it would have Steve. Let's say Steve's our client. Well, it would still have Lancy there. So we can actually holistically see and serve our clients as a whole. So when we do this at a glance, we can have a big picture view of our clients' one-of-a-kind financial plan and really see a living format of it. So we can give that high-level strategy to ensure that not only are we on track, but that as life changes and evolves, that we continue to adjust the financial plan to make that next dream come true.

Mike, now that we know that you're the disruptor in financial planning, how do partnerships fit into your long-term vision for Ideas by Mike?

Well, we set out with a vision to be, uh, different, right? That disruptive nature in the financial planning business. It really comes down to this whole idea of what a fiduciary is. A fiduciary is somebody who has the best interest of the client in mind. And so often though, in the financial planning space, the financial advisory space, the life insurance space, people have one license and one solution, and they're trying to put us— you know, they're trying to put a square peg in a round hole. Um, one of the things that I think that we have to be— how we are disruptive is there's literally nobody who walk in our door, nobody who we get on a Zoom meeting with, nobody who, you know, who is a friend, family, referral, webinar lead that is looking for something different that we can't help. Because yes, um, I, uh, CDs have a place in people's portfolios, Bitcoin has a place in people's portfolios, and then everything between that has some attributes that can help people. My goal as the visionary for Ideas by Mike in this kind of revolutionary-style financial planning office where we're dynamic, where we're looking to help those who don't fit the mold of traditional financial advisors, Is that there's nothing we can't offer. Now, there's things that we will not do, right? Um, and that's, that's our ability to say no to things, because our— when we say no, it makes our yes mean so much more. And so, uh, we, we, you know, we, we're trying to help people, right, who just don't feel like they're being served. They're not being heard. And so the future of our partnerships is when we find partners who are looking to also be disruptive. And we've had some of those on the past podcast recently here, Wendy. We had the uber nerd that started Get Snug, right? And I call him that affectionately, right? And if you haven't listened to episode 15, you should go back and listen to him. He got into the estate document creation business because of a bad experience he had, and he's looking to solve one of the biggest problems out there. 68% of people in America don't have a will or trust. So what does he do? He creates Get Snug, right? He's trying to get that number down into the teens or lower, and we're here to help him. We met, we met the team from Halo. In Genevity, right? I mean, what they're doing to help people realize what the end of their life will be like from a standpoint of their healthspan versus their lifespan and what they can do to make sure that the younger version of a client is the one who's taking care of the older version of themselves is so important. Then we talked with— our partnerships go deep, like with Advisory Alpha. We talked with Steve Oesterneck, who's the CEO of our investment management company, who they manage over $6 billion in assets, which is not an insignificant amount of money. But he talked about on episode 13, the do-it-yourself approach and the tools that people can use for people that want to do that, right? Who gives away that information when they're in the for-profit business? Well, a one-of-a-kind financial planning company does. And then obviously we talked— Liz talked about Asset Map. We haven't, we haven't presented that except for here on the podcast. Our goal is if there's a tool that's going to enhance somebody's, um, one-of-a-kind life, we're going to partner with the person to help their clients do that, or we're going to partner with tools that are out there. We are the architect. We hire the builder. We find the subcontractors that then we just walk down the aisles of the financial services marketplace. If you're building a home, that's Home Depot. We just walk there and we find the best tools available to bring somebody's one-of-a-kind plan in view.

So as we talk about these partnerships, like, what is on the horizon for Ideas by Mike in terms of partnerships? Tiffany, why don't you tell us about that?

Yeah, I don't wanna give it all away, Wendy. We're exploring some new partnerships for 2025. The goal is to strengthen our commitment to sustainable investing and community outreach. We're also bringing on an amazing new platform, monday.com, so that we can help our clients more efficiently and effectively, communicating with them regularly in a way that supports them and our team. And then we're looking to expand resources for young professionals. That's definitely a demographic we feel is underrepresented in the financial planning space. So it'll be a high focus for 2025.

Sounds like you got some secrets though. Come on, spill. We wanna hear.

Give us the tea.

No, uh, we, the goal for Mike is to expand, uh, really for all of us is to expand the footprint that we're in, right? And so likely bringing on a few more partners, um, either within the Pacific Coast or Hawaii. That would allow us to continue to support our clients and just create a better atmosphere where they can reach out to us when they need to, right? We would be on, on the clock from 8 AM Eastern to 9 PM Pacific, and it just gives an opportunity where clients can reach out to us and they can have their needs met. So that's another thing that's rattling around that we haven't finalized yet, but— Definitely on the horizon.

All right, sounds good. So, um, Liz, what are your thoughts as we wrap up?

Yeah, you know, it's so incredible to be at a company that is really client-focused and continuing to, uh, not be stale, you know, continuing to grow and develop to better serve our clients, to help and serve each other, and really be a part of the community. So I'm just really excited about what we get to offer our clients. You know, with me, I'm the senior client services manager. I run client services here. So when I think partnership, I love all the tools and resources we have, but my number one partnership is with all of the clients that we have with us. And I don't know if I can say this, but a dusty financial firm, that's how I like to refer to it. A dusty financial firm serves a client with a singular account and advice is from there. And here at Ideas by Mike, we support our clients, their families, their beneficiaries, and even the people that they refer to us. So I even, you know, recently helped a client who she was looking for opportunities for her son getting a scholarship, and we helped them get onto ChatGPT, do a very great questionnaire to really get advisement on the best scholarship opportunities for this kit. So it's so cool to extend our reach in new and inventive ways with our partnerships, tools, and resources. And I'm just excited to continue to give back more to our clients.

All right, um, Liz, let's, let's hear one of your key takeaways or hope for the future.

My key takeaway is just really making a holistic impact with our clients and Just continuing to build out client services. We're always on the lookout for innovation from other companies and individuals to elevate what we do here. You know, as, as Tiffany mentioned, we're connect— not connecting, we're integrating with Monday CRM right now, which helps us internally. But really, these connections make it so that we can better serve our clients too. So I'm so excited for continuing to grow just so we can be here in a meaningful way and do what I care about most and why I'm on client services. It's all about creating a deep and meaningful connection with our clients. And really, my part of my joy is getting to watch their one-of-a-kind financial plan actually unfold in front of me.

All right. So Tiffany, what about you? What is your hope for the future?

Honestly, Wendy, I'm just excited to see Ideas by Mike continue to be the company that people and organizations are proud to partner with. I can't wait to see us really unfold our partnerships the way I know we can and be looked at in the industry with the respect and innovation that we provide, right? I'm also very excited for the additional partnerships we'll create in 2025 and the lasting impact and legacy that, that they'll give.

All right, disruptor, what are your hopes for the future? What are your key takeaways?

Uh, disruptions by Mike, right?

That's gonna be the—

that could be the future of this, right? I, I could just, I could just change everything and at the blink of a dime, right? We'll just be the great disruptor. Um, I, I, um, you know, dating back to when I really started in this industry back in 1999, You know, I came into this business to make money. Let's be for real, right? When you get your first job, you have personal goals and personal ambitions, right? I want to own a home. Like, I'm talking about me individually. I wanted to own a home. I wanted to be able to put money in a 401. I wanted to do what so many of the clients who were 30, 40, and 50 years older than me had. And that was me as like a snotty-nosed 22-year-old, right, wanting to do things, right? But what I saw, um, as I— as my career evolved is I saw an industry, right, that celebrated the money they made, right? Big events, right, that I got the ability to go to. I remember going out to Dana Point, California and staying at the St. Regis when I was 23 years old as the number one advisor in the private client services division of Wachovia Bank. And I remember being on a sightseeing tour, right? And thinking that I've got clients at home that are losing money in the stock market because Y2K caused a major downturn in the market. Why do I get to celebrate like this? I remember going with a client down to Florida And coming back on his 80-foot yacht through the Intracoastal Waterway and thinking about, is this really what wealth is? Right? And it is, right? What I realized is that that client was living a one-of-a-kind life, right? It wasn't my life, right? It wasn't— I didn't want to own that boat. I didn't want to do that. What I wanted to do was be different. What I wanted to do was make sure that each individual we talk to, right, the Yvonne's of the world, the Mike's of the world who are clients, the Nancy's, the Kay's, right, all everybody that we speak to around the country, I wanted to hear them, right? What do they want, you know, to accomplish with the rest of their life? And then help them realize some key things. They control their tax bill, right? That's the largest expense they ever pay in their life. You control it. Don't let the IRS control it for you. Don't let your CPA tell you that taxes aren't going up in the future. You control it. That, you know, that everybody— I don't care how much money you have, Wendy. I don't care if you have $20 million or $200,000. Everybody fears running out of money in retirement, right? That's why retirement income is so important. Everybody worries that the stock market is going to go down. And, you know, the reality is, is 90% of the time it doesn't. But they always worry that the next big crash is coming. So, they need somebody to hold their hand to make sure that that fear is relieved, right? And that they stay invested so they earn what they need to earn, right, to be able to live that life. They need to be able to take care of themselves at the end with a great long-term care plan. And ultimately, they need to say, I love you, to the people they care about the most. And that's having a will and a trust in place. That's the one-of-a-kind plan. That's something that nobody else in this industry is delivering consistently to their clients. That's what we believe in. And that's why, you know, we're going to continue to partner with those who have that same belief as us. It's people over profit. It's putting service back in customer service. It's what we do every day. And that's why I'm so excited about being just a— and the reality is, is I'm a small part. I cast the vision for Ideas by Mike. But Tiffany, Liz, Caitlin, Kelsey, Katie, right? Nicole, Joseph, Marcus, Scotty, right? Nicole, Barb— I think I said Nicole twice— Lorraine, right?

Now you have to say everyone, Mike. Yeah, you got to say them all.

Christina, Christina, right? Uh, Barb, uh, Ernie. That— this team is the one that, uh, is, is the one that takes the vision of being disruptive in the financial industry. We want to be a dynamic financial planning firm that helps those who don't fit the mold of the traditional financial planning world so that together we can make an impact. And that impact is to our community, for our health, right? And it's also to the employees that's at Ideas by Mike in the communities we serve. So, you know, we're going to continue to, to be disruptive, right? It's the, it's the tone. I'll tell you, in the month of December We had an internal saying, and the internal saying is, we're going to step on the neck of December, right? You know, we're not violent. No, we're not violent.

It was, we're going to kick December in the mouth.

Oh, we're going to kick December in the mouth. Me, I'm talking about December of 2025. We're going to kick December in the mouth. And we're not violent, right? We are not violent from any stretch of the imagination. What we're saying is that December is an important month. Right? And it's not something that you just kind of coast into the end of the year and then you start over in January. No, we're going to kick it in the mouth and we're going to make an impact in the lives of the people we serve. And we're doing it, right? We're doing it every day. So thanks, Tiffany, for setting me straight. That's why she's the director of growth, right? When I say things, right, I will obviously, I'll change them midstream sometime. But yes, we definitely kicked December in the mouth, and I was excited to kind of see the results that was created out of that.

So if somebody wants to, um, talk about their one-of-a-kind life and how they get that started, how do people get in touch with you and the team, Mike?

So it's, it's anywhere you would search, right? Go to Google and type in Mike Milligan CFP or Ideas by Mike, and you're going to come to our website, right? You can go to YouTube at Ideas by Mike, Instagram at Ideas by Mike. Uh, our website is ideasbymike.com, and on there you can hit Contact Us. One of the greatest things about doing that is, uh, you will— Lorraine and Kelsey, who's on our team, will make sure that, um, you know, we get in contact with you right away. And then Joseph, Marcus, myself, Barb would be the ones who have a conversation with you first. And one of the things I just always would tell people, that when they're— that when you make contact with us I want you to really be able to answer a couple questions. And this goes back all the way to like episode 1. The question is, why is money important to you? But then a couple of other questions you need to answer is, what gets you excited on a daily basis? What gets you out of bed in the morning? What are you never late to? Because those last 3 questions right there are going to say— are going to help us define your one-of-a-kind life. And then when we can define what your one-of-a-kind life looks like, the money part becomes a whole lot, a whole lot easier. Because then we're going to look to reduce taxes, get retirement income that lasts for a lifetime, investments that fit the lifestyle you deserve, a long-term care plan where, you know, you don't have to become a burden to somebody else, and a legacy plan that ultimately says, I love you, to my family at the end.

Okay. Well, well said. Thank you, ladies. Thank you, Mike. And thank you for listening today. Please like, follow, and share this podcast with your friends. Until next time, I'm Wendy McConnell.

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