You know the number one secret to be a financial professional it’s not this new Lamborghini here it’s the knowledge that’s why I got these 2 new bookshelves installed and I don’t even call them bookshelves I think I’m as knowledgeable containers through. Welcome back to the channel guide if you’re new here my name is Josh and I am a certified financial planner one thing that you’ll find very fascinating is that Tai Lopez before he became one of these self-help groups holding courses on getting rich quick he was actually a financial adviser he was a wealth advisory company called GE capital.
Wealth advisory company
which is super funny anyways all that being said I hope you enjoyed my little riff on title pence like I said there is absolutely not all this to say we’re talking about knowledge today because I had a career in financial services and I think when I started this channel I did not think we would have this kind of. What are the call of this kind of what when I started this channel I do not think we have this kind of falling or interest from other financial professionals or other young people who want to get into financial advisor wealth management as their career I thought would be mostly just talking to retail investors and people who are interested in these topics.
Today I want to really answer the question I’m getting more than any other question which is what resources I need to be surrounding myself with what knowledge I need to be downloading into this little noggin in order to be successful in my career as a financial adviser or is a financial professional or whatever it might be and so today I want to run through what I think are the most important things to become successful in adviser I think obviously the first things first which I talk about all the time you have to know your stuff like not only do you have to know your stuff you have to understand things I want to learn a little bit of attention here is that this is the difference between knowing something and understanding something.
Knowing something and understanding something.
knowing something is like you know I’ve read a Wikipedia page and understanding something is like having the hyperlinks all that makes no sense or 100 let’s review that doing something is like reading a book on a shelf and having read that book but understanding it as having read 15 different books and knows how they all link together it’s like having a framework for like a latticework in your mind of how all the different ideas work together so that when a client or a prospect or someone who’s interested in what you do because it asks you a question you know how to answer you know the right context you know how to frame there’s a difference between understanding being able to recite something back.
and recall something and say something that’s actually impactful versus just having read your textbook I think today that what I really want to focus on is what the 4 things you can read in order to start begin building that understanding that foundational first principles understanding of investing and of creating wealth and all these sorts of things that you’re going to need to know as a finance professional so the first book I want to talk about it. The funniest thing ever because every single other one of his books is absolute trash and I mean medium writing off a little early but I think they’re not worth their salt rich dad poor dad by Robert Kiyosaki.
Rich rich dad poor dad
okay, I talk about this book a lot but the reason I’m talking about is gonna change my life I remember I read that book for the first time you know previous to this I’m going to Google and put in the search bar highest paid job least amount of work and offense pharmacist but when I hit search the pharmacist came up so I was like oh my goodness this is perfect I’m gonna be a pharmacist I’m gonna make 0 K. here and a poor white coat on every day and I’m gonna just poured soups together I don’t know. Anyways all that said I actually decided once I read rich dad poor dad.
I don’t want to be a pharmacist this is exactly the opposite of what I want to do I don’t have a job doing something I really love and enjoy and actually maybe become a business owner and rich dad poor dad is all about principles of wealth how do you stop thinking as you know maybe an employee or someone who just works for hourly wages and start to think about how can I multiply my time how can I find ways to maybe even faster be a business person and actually start to create wealth and when I read that book the first time it absolutely blew my mind I’m not doing it justice it’s one of those things that you have to go read.
Consultant or coach to a financial adviser
right now now that’s what you’re gonna have to readers one Iraq will get your hands on so too bad for you but if this guy named Nick Murray and he is legitimately like a consultant or coach to a financial adviser and you are never sure that’s a good thing because they say if you don’t know how to do it teach it or if you don’t know the keys your dad do teach something along those lines and he’s purely just a teacher for financial advisors and I guess kind of that’s what I’m doing right now so this is Nick Murray has a book called the simple wealth inevitable wealth and it is one of the most profound books I ever read for my career.
because it talks all about how wealth doesn’t require these massive risks Ortiz insane inside it requires one thing that is in very short supply which is disappointing and it requires having a system and it talks a lot about how you could have a symbiotic relationship is a great work of beneficial and mutually beneficial relationship between a financial adviser and a client and I think that is one of the most important books that you can get but here’s the interesting thing Nick Murray doesn’t sell in stores you actually have to buy them directly through his website.
something seems price and he has all these ridiculous requirements with speaking engagements like he won’t speak at dinner and he will speak where beers are being served and he won’t speak in a city that’s like more than 1000 climbers outside a city crazy guy pretty eccentric pretty insane but his book is absolutely fantastic. I highly recommend you go read that one and if you’ve been a folder for this channel for any amount of time you’ll know.
I kind of have this hard-on for this guy named of all the cars and he’s like man is that he’s the greatest he’s just the greatest he came on the scene when he did a podcast with Joe Rogan and essentially no Paul was the founder of a company called angel list its kind of like the could Gigi or like the Craigslist.
but for start-ups you could finally new employees you can find business ideas you can find different assets for your company whatever it might be he’s actually seen it held thousands of different start-ups become massive businesses he was the original industry many of these different startups out of San Francisco it’s been a crystal guy forever and essentially he came on Joe Rogan ascension to storage dropping bombs of wisdom on people and what he does that is really cool and not a lot of people do is he combines philosophy with entrepreneurship and investing.
Entrepreneurship and investing
it’s this weird thing that even has an allergy it’s like if you go to a circus and you see a bear it’s like it’s kind of cool and they see a guy running issues like we’re like that’s kind of cool but if you see a bear riding a unicycle it’s like whoa that’s freakin cool and that’s exactly what the ball is kind of like a bear that’s riding a unicycle he’s this philosophy life meaning and purpose guy combined with investing entrepreneurship and I think he better than anyone else today how does the right prescription or the right framework for thinking about how to build wealth and how to start investing in how to be an entrepreneur.
how to take risks so a book came out this year that condensed all of the best wisdom from them all into one single book the best thing about this book which is the exact opposite is completely free you don’t have to jump through hoops to get a reading by for some insane price you can actually go to enough almanac.com and you can download a free PDF and if there’s anything that this channel does for you in terms of providing value it’s probably just directly to that link because of all the teaching more about anything that I could and he is absolutely incredible now for the last book that you have to read here’s one thing that I find it interesting about my line of work is that when.
People invest the investors themselves
People invest the investors themselves will do most of the work people up to get overly involved it’s interesting investing in finance like this the more like the harder you try the worse you do and what I mean by that is if you’re trading in day trading every single day and waking up and looking at your monitor and trying to treat different stocks you’re probably going to waste a lot more time and do a lot worse in your investing in someone who even just bought some ETFs.
how it forever and kept it simple and didn’t overcomplicate things and our last book that I want to talk about is a guy named Jack Bogle and I actually met Jack here’s a picture of what’s the informal resolution it’s black and white but I met a wonderful shot the coolest guy ever he is essentially like the Amazon Jeff Bezos of the investing world because he came out with a century what with the index fund and if you guys know anything about investing in finance ETFs and index funds are everything.
Taxes and commissions and advisory fees
nowadays so I met Jack when he wrote this book called the little book of common sense investing super short and what he details in that book is that most of the success that you’re going to get in your life as an investor is going to come from shooting for the fences are trying to do anything insane it’s going to come from limiting drag right like dragons when you’re trying to run as a parish in your back and there’s just so much drag in the course of the year that it’s slowing you down let your own devices you can go pretty fast but the dragons with slows you down.
when you invest there is drag there are things like taxes and commissions and advisory fees and all these different things and I think that Jack Bogle does the best job of laying out the most common sense case for how we should be investing not to try to maximize gains like throwing money in game stop in cryptocurrencies and all these sorts of things which are reducing the drag that you have on a regular performer best it’s keeping it simple and reducing the pitfalls of reducing the errors again guys I think that the most important things if you’re going to be starting as a finance professional R.
one you have to know your stuff into you need to be creating content online kind of a case in point. That’s what I’m actually doing walking creating content online I think that you can’t really create content if you don’t know to some degree what you’re talking about or you can’t link different ideas together so this is the pole star I think you need to immerse yourself in this world of investing if I were starting it today I would start with those 4 Bucks.
so anyways guys I hope this answers your question and if you’re one of the people who hit me up in the DM’s and sat with books well I’m happy I was able to send you this link and if you got any value from this video whatsoever make sure to hit that like button below to hit that subscribe button if you want to support the channel and turn on post notifications for more videos just like this one every single week until next time.