Training Wealth Managers for Better Outcomes

In this episode of Wealth Visionaries, host Litan Yahav sits down with Bob Dunn, President and Managing Partner of Novi Wealth Partners, to unpack the human side of wealth management. Discover how a fee-only fiduciary firm founded in 1998 is revolutionizing client advice through psychology-driven training, Process Communication Model techniques, and a "superhero" advisor mindset that prioritizes trust over transactions.

From escaping the insurance industry's sales traps to building a team of 7 CFPs serving 237 clients with a 40:1 ratio, Bob shares insider strategies for high-touch onboarding, behavioral coaching, and next-gen family education. Plus, a candid look at AI's role—not as a replacement, but as a compliance-savvy tool for scaling personalized planning.

Whether you're a busy executive, early retiree, or aspiring advisor, this conversation reveals why 80% of wealth management is psychological, and how structured training turns advisors into confidence-builders.

*Timestamps:*
00:00 - Intro: Welcome Bob Dunn
00:31 - Firm Origins: From Insurance to Fiduciary Freedom
02:17 - Personalized Communication: Mastering Client Styles with PCM
07:11 - The Psychology Edge: Why Tech Amplifies Human Insight
08:09 - Advisor Training: From Paraplanner to Wealth Hero
11:34 - Team Structure & Low Client Ratios for High-Touch Service
14:01 - Onboarding Deep Dives & Annual Reviews
18:48 - Organic Growth: Referrals, Blogs & Education Over Hype
21:36 - Family Office Vibes: Handling Complex Lives & Legacies
23:43 - Client Types: Delegators, Validators & Dodging DIY Drama
29:50 - AI in Action: Process Automation Without Losing the Human Touch
34:17 - Ideal Client Profile: Meet "Marissa Magic" & Early Retirees
36:36 - Bob's Big Advice: Find a NAPFA Fee-Only CFP Today

*Key Takeaways:*
Train advisors like superheroes: Rigorous criteria ensure empathy + expertise.
Psychology - Products: Tailor advice to "money stories" for plans that stick.
AI as Ally: Start small with compliant tools to free up relationship time.
Don't DIY Everything: Delegate to fiduciaries for tax wins & peace of mind.

Ready to level up your wealth game? Visit NAPFA.org to find a fee-only advisor near you. Connect with Novi Wealth Partners at noviwealth.com.

Subscribe to Wealth Visionaries for more unfiltered chats with top wealth pros. Like, comment your biggest takeaway, and hit the bell for new episodes! What's one "money message" from your childhood holding you back?

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