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How to Stop Being an Impostor and Claim Your Greatness | The Magellan Network Show
I have a question for you. Are you being an impostor? What I mean by this is our industry helps people create plans for their financial future. Yet, I have asked many advisors where their financial plan is and when they last updated it. Only about 20% come back to me with an answer. I would like our industry to hold ourselves to higher standards and walk the talk. Here's the real secret sauce, you need a life plan that has a big business component to it. To see how you can get started at claiming your greatness in business and life watch my latest video!


The Magellan Academy & Network

The rules and tools for success in the financial services industry are about to change radically.

I have spent over 25 years coaching only financial advisors. In that time, I have personally conducted over 50,000 individual coaching sessions. I have built a profound knowledge base of what it takes to achieve lifelong success in business and life. In my career, I have transformed 1,000’s of advisors (below are video and written testimonials by many of them).

Many of you probably paid thousands of dollars to various coaching programs with very mixed results. Most coaching programs are just that. A pre-planned process that is “cookie cutter”. Where they have salespeople having to “sell” you on their program and results. In most cases, it’s about the coach, their ego, and their money. They base their program on “practice management” or “marketing”. They make you more intelligent. What they all fail to do is help you make that “mindset” shift that must happen for you to realize your dreams and vision.

I am going to coach you, teach you, inspire you, and train you all on your mobile device every business day.

You are going to get better at business development, practice management, personal development, and your vision.

Here is what you are going to get from me each month:

 A 5-10 minute morning coach video each business day.

 3 training videos of 20-30 minutes each. This will be a deep dive into four areas I mentioned above.

 A live group coaching session where you and I can interact and work together.

Here is what you can do each month:

 Post a question to me and I will answer it.

 Collaborate and associate with like-minded advisors.

 Invite other great advisors into the network.

Your Bottom Line:
Here is the deal. I am not going to ask you for a credit card. Like I said before, coaching is personality driven. You might not like my style or tactics. So with that in mind here is my offer to you. Complete the short form below. You will receive an email with detailed instructions on how to join the network for the next 14-days. I personally approve each submission so this might take a few hours or a day at the most. I will not ask for compensation of any kind during that 14-days.

If after experiencing my work for 14-days and if you believe that I can help you, here is the deal. To remain in Magellan Network and have access to Magellan Academy, your daily investment in yourself will only be about the price of a Latte these days. One more thing, it’s a month-to-month deal. I’m not going to lock you into anything.

Take action now and complete the short form below and I look forward to welcoming you personally inside the Magellan Network.


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PracticePower Academy Podcast #1126 Why Advisors Fail?
Last week I had the privilege of leading a private 2-day business planning event for a group of advisors in Scottsdale AZ. None of them have ever been through my business planning process. What’s unique about that event is participates can get private time with me to discuss their goals and plan for the new year.

Several had a great year in 2015 but failed to achieve their 2016 goals and most went backward. This brings me to my topic for today. What causes an advisors to go backward (fail)? Sometimes there are legitimate forces (health issues, personal issues, etc), they are in the minority. There are 2 main reasons what advisors stop growing or go backwards. First, they relax their standards. Second they assume their past success will equal future success.

In this podcast lets discuss:

* Why standards are so important to success.
* How to maintain or increase your standards.
* Why assuming success can cost you millions.
* What you see in the mirror every morning matters.

If you have a topic that you would like me to cover in future episodes, or have a questions please email me a

Coach Joe’s Blog

How to Stop Being an Impostor and Claim Your Greatness

Get Your 14 Days Free to The Magellan Network

Recently one of my long term clients who has a very unique practice and lifestyle was featured in an industry leading podcast and he mentioned me and how instrumental I was to his business.

My philosophy is, any advisor can have 30 minutes of my time just to chat and figure out what works best for them. In those conversations, I ask a  few questions. For instance, one of the questions I ask is, paint me a picture of where you want to be in five years.

What I get back in all cases is a concept of I want to make more money and I want to take more time off. These are all just more betters. There is no clear articulation really of what they want.

We’re not talking about people that are failing. They’re very successful but they’re just wandering through their career.

I’m passionate about financial advisors and planning because I can’t think of a better profession to be in where you can make a good living. Show me another industry where you can be dysfunctional and still make six figures.

My own daughter will be going into this industry because she wants to do something where she helps people make a lot of money, but they don’t have to work hard. It’s a beautiful industry. Yet a lot of times we don’t honor it because we don’t hold ourselves to a high standard.

Let’s talk about the basics! Every advisor needs a business plan. If you’re in business you need a vision. Here’s the secret sauce, you need a life plan that has a big business component to it. 

Nothing is created by accident we all have a plan. We all work 90-day windows with a two-page game plan. That is being a pro and honoring the profession.

We have such an opportunistic window with all the baby boomers retiring, let’s just get organized and go get it. The problem is if you don’t know why you want to go get it, then why go get it? A lot of people would like to take 20 weeks off a year, but they think they can’t do it and they don’t come up with a plan to actually accomplish that.

The second question I ask is, how do you operate? I also ask do you have a financial plan and when did you last update it? Less than 20% have updated their plan as an advisor and here we are asking other people to create a plan to follow.

As an example, this is like if you said you need to get fit and you go get a personal trainer. Let’s say the personal trainer is overweight and 400 lbs. Are you going to go to that person and trust that person to get you in shape? 

We lead the charge as impostors. I’m not trying to indict our space, but I would like us to hold ourselves to higher standards. This is an incongruency. Our industry will sit here and say we want to create more professionalism, so we go get more designations. 

At the end of the day though you need to walk the talk. Have an investment plan, have a financial plan, and have a business plan. We want to be seen as professionals and yet we act like salespeople. This is the problem when you sound and behave like a salesperson.

Imagine a world where you’re organized, you have a vision, you have a plan, you’re excited for the future and you’re not just trying to survive. You’re really there to do good work and are compensated for helping others. Total win-win right? That’s what this is about.

Yet we go around life and we think only about ourselves about how much more money we need to make or how we need to become more successful. This is not going to get you up the morning. You need to find out the why behind what you’re after otherwise it’s not going to compel you to talk to your clients and do your morning rituals. This will not help your business just like it hasn’t been for the last 10 -15 years. 

Your best day as an advisor will be the last day you’re an advisor. If you do not believe that then why are we here? Your best day as an advisor or planner is well off into the future. I have clients in their 70s and they’re rockstars. They’re having fun and contributions are happening now that weren’t in their 40s or 50s. Why? Because why not?

I’ve been at this game a long time and sometimes I feel like I’m screaming into the forest and no one hears me. That’s okay because I’m going to be truthful to myself and I know what I believe.

So, why not be great? Being average in this industry does not require a lot. Get a license, talk to some people, and do the right thing. But, why not just be excellent? The difference between being okay and excellent is just changing your mindset. 

If you believe you don’t deserve it and you don’t like what you see in the mirror it won’t matter what program you buy or do. Excellence comes from your mind.  

I have many clients that don’t need more money and they can walk away from this business today in their 40s or 50s. So we find out what their passionate about and come up with a plan to give back or create a foundation. This is what gets me up in the morning is making things happen for people to better society.

What’s your calling? That’s what being an advisor is all about – contribution. Yes, it’s a business and a career, but if that’s all it is to you, you’re not getting this. 

Back to my story with my client that was interviewed on the podcast. I told him your goals are not big enough. He’s been at $600,000 – $700,000 the last 15 years. The problem he has is he’s afraid to go big and think big. He’s uncomfortable and afraid to rock the boat, he’s treating his business like a job and it gets boring. 

Humans are happiest when they’re on a quest for greatness or great contributions.

So let’s get started! I have some free resources for you and there are no catches to any of these.

If you visit my website you can get a business plan and your daily game plans started. 

If you would like to spend a little more time around me or with me visit Let me come work with you in a group environment. Once again, no catches here, no credit card or anything like that required.

I’ve been doing this for the last 25 years and I’ve seen a lot. Nothing surprises me anymore. For now, what I want you to do before the years get away from us because we’re going to be in March pretty soon, claim your destiny and make decisions. 

Let’s do something!

What to Do to Get Your Clients & Prospects to Say Yes to You

What to Do to Get Your Clients & Prospects to Say Yes to You

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In this episode, I have a very important question for you. Are we as an industry losing the capability to have conversations with clients and prospects?

What I mean by that is with all these wonderful tools are we becoming an industry where it’s data in, crunch it out, and put it up on a nice screen in a conference room.

I find this as a big concern. What I find is there is nothing more frustrating for people then when you’re in front of somebody and they have a need, they want the help, you want to help them, but you just can’t get the job done because you can’t overcome the elephant in the room, which is fear change.

What we need to remember as an industry is fear – False Evidence Appearing Real. Another pie chart, another look through their risk score or another look at logic through their issue will not get that person to say yes. 

I’m afraid as I watch the industry evolve we’re using the software as a crutch to not ask them real questions. Imagine how powerful you would be if you not only had these tools, but you had a track, mindset, and strategies to reach any human being.

The reason I’m talking about this is we’re about to deploy in the next 6 – 12 months Sales and Influence Mastery for Advisors talking about these very issues on how things get done.

The one thing to never forget when you’re sitting with a prospect or client that you need to make new recommendations for is there are two sides. There’s going to be you the advisor and the prospect. 

Are you persuading the client or prospect on why they must change or is the prospect or clients persuading you on why they can’t right now make those changes?

Who’s buying? The more congruent party wins that battle. You are not going to get your congruency from a pie chart or score. This comes from you internally where you know in your heart of hearts that you know you have this person’s best interests and you commit to doing what it takes to get the yes.

How do we get there?

First, a lot of you are not prepped mentally because you are trying to just get your head in the game at that moment. In order to influence others at the highest levels, you need to influence yourself first.

What do I mean by that? I mean why are you here? What is your mission? Are you there for yourself or are you there for others? What is your approach?

If you’re making this all about you and your goals you’ll sabotage it.
Step one are you here for the right reasons? Because if you’re not here for the right reasons to help them then that will tell in the communication and interaction.

The easiest thing to do is to agree with them about waiting to make the move when it’s the right time. You punt instead of going for it because it’s safe and also easy. It’s the path of least resistance.

What I’m asking you to do is to prepare for each meeting, which requires a massive amount of mental, physical, and emotional energy. If you’re burnt out you’ll go throught the motions in the meeting.

You rationalize it in your head over time and say to the client that we’ll do it next time. Do that for a year, five years, or ten years and there are a ton of missed opportunities.

What I’m talking about today you have total control over. Nobody determines your mindset, your control, or how you approach a meeting other than you. If you know what to do and you don’t do it then that’s just laziness. 

Number one you need to influence yourself. 

The second thing you need is to build a massive amount of rapport.
Physical, emotional, language, and communication rapport.

We all talk about gaining trust in our industry, but how do you get there? That comes from building rapport. Let me put this in layman’s terms.

Have you ever just met somebody and you know that you just instantly liked them. There’s something special about that person for some reason. Then there are other people you meet where it’s just not there and that is all about rapport.

You can learn how to get rapport with any human being and it is necessary in this industry. I want to build rapport, so I can have a communication and trust bridge otherwise you’re just talking to people. 

The easiest thing to do is present and the hardest thing to do is inetrview, but that is the most important.

The third thing we need to do is to understand the person. You need to know how they decide, how do they like their information, are they internal or external, what are their needs around their investments and relationships, and what do they want?

What you’re really selling here is an outcome and relationship. On a lot of levels, it is intangible. 

You also need to identify not only their needs and wants but their wounds. What are their fears? Once we have all this information then we need to present it in their style.

I want you to think about all your recommendations and linking them to a need, a want, or a wound. When you have a situation and you can’t get them over the hump you’re missing something in the process and no this isn’t about closing.

Here’s what I want you to do right now. Be conscious right now. When you go into a meeting take 3 – 5 minutes before the meeting happens. Don’t rush into the meeting, keep them waiting and be the best you can be for that meeting. Clear your mind, visualize how this is going to happen, and make sure you’re congruent.

I want you to be in a powerful empowered state. You’ll win because you are prepared to win.

This is where you’ll win that battle of congruency because you’re prepared to win. How many times in your career have you walked out of a meeting with a client or prospect but knew you blew it because you left stuff on the table.

Based on the value of a client, longevity it’s a very expensive learning curve. I want to inspire you and challenge you to be a better version of yourself and to really prepare for the meetings. You can’t just show up and expect greatness. 

Check out let me help you for a couple weeks, nothing is required, no credit card, nothing. I just want to help and see if this makes sense for you.

Why Advisors Don’t Ask for Referrals

What is the best way for you to get a new client as a financial advisor? If you’re thinking of cold calling and seminars you’re missing what I’m saying here. There are two main ways that my clients like to grow their business.

One way is through introductions and referrals, but the number one way my clients get introductions is through very happy, satisfied clients.

How many of you believe that a qualified referral from happy clients is the best way to get a new client? 99 out of 100 advisors will raise their hands. There’s always a few people that still believe in cold calling.

If you agree with my statement that getting introduced from a happy client is the best way to grow your business than I have a question for you. How much time, energy, and effort do you put towards that?

If you believe that, then why aren’t you putting more energy and effort into making your clients happy?

In my experiences, while getting new clients introduced to me from previous clients, it’s 5% strategy and 95% psychology. It’s not in that 80/20 rule. There’s no magical letter to send out that will get you these clients.

What do you need to get a qualified referral? I’m going to give you the formula real quick. You need to be aware and get your head around your own psychology. You need to let your clients know that you are here to help and here to serve. Timing – We do not control the third piece here, but we control the first and second piece.

There are advisors in this industry saying you don’t need to go for referrals. We’re professionals. Doctors and surgeons don’t do that. Well, yes they do if you’ve ever seen a sign in the doctor’s office saying we’re accepting new patients that’s them letting people know they’re open for business.

I’ll give you the 5% strategy breakdown first. As you speak to your clients and if it’s a positive conversation let them know you appreciate them and by the way, if you run across someone we can help we would love that opportunity. There’s no magic verbiage, you just need to have them keep you in mind and say that to them.

Then you have your reviews – is there anything else we can do for you? If you get a positive response let them know to please keep you in mind. We’re not going to demand names and say who do you know? We don’t do that, it’s unprofessional.

A lot of you think that you need to ask for names. No, you just need to create awareness. 

What would happen to your business 3 – 5 times a day if you happen to just mention this and then you have a tagline at the bottom and invite clients to events? You’re creating a giant awareness campaign.

My experience has always been if you would just blindly follow that process for 12 months you would be a very happy camper. It’s not an instant gratification game. After five days advisors will say “Well, Joe I haven’t received any names yet.” You won’t, but after year 1, year 2, and year 3 it will start to escalate. 

That 5% that’s your strategy. I just saved you $5,000 – $10,000. You don’t need to go to the advisory bootcamps or anything. You just need to remind your clients 3 – 5 times a day that you’re open for business.

When a client or friend asks you how’s business if you say busy, many times they’re thinking well they’re busy, so I don’t want to give any names out or they already have enough on their plate, so I’m not going to go to them with my retirement account. 

The older you get and the more experience you have in the industry it’s almost like their business development side shuts down because they’re ready to retire soon.

Shifting to the 95% mindset. The earlier in your career you get the psychology and mindset the better you’ll do. Fear and limiting beliefs will prevent you from creating awareness with clients and make you believe you don’t deserve this success.

A lot of advisors think they feel lucky to have clients, to begin with, and how could I ever impose on them or I don’t want to piss them off.

What it really boils down is your value proposition. These beliefs are what’s costing you millions of dollars a year. Referral gathering and introductions is about you getting uncomfortable to do new things.

Many advisors after they realize they’re not doing these things they say well I’m going to do five a day.

No, you’re not, just start with asking your good friend or best clients because you haven’t done any introductions in five years. How are you going to scale up that quickly and do five a day?

The first 10 of them are going to be really uncomfortable because it’s a new behavior. I’ve set this up where you’re not going to fail. We’re just saying keep us in mind, not asking for names.

It’s all about failure and rejection proofing the process. If you can not stomach the statement I’ll keep you in mind then you’re going to struggle in this business for a long time. If you can’t stomach that as a failure in rejection then we need to have a whole different conversation.

Don’t say “Hey we’re looking to grow our business” in these statements either. That makes the statement about you and doesn’t that sound selfish? I want this to be about service, helping people, and getting the word out.
Now I have clients who have done this and they’ll get 50 or 80 names a year from this and no they’re not always qualified. Then, you tell the story of I don’t want little clients, so I’m not going to do this. That’s an excuse.

If in the introductory call you find out they have no money here’s what you say “Based on your current economic situation my fees would eat into your retirement and as a fiduciary, I can not do that, so I’m going to recommend you to ‘x’.” X can be a discount broker, a bank or wherever.

You’re going to give every human being that comes in at least 20 – 30 minutes of your time and you’ll diagnose them. Half will not be qualified either non-economically or non-emotionally. Then, just move on, that’s the worst case scenario.

Do not make this more complicated than it is. Don’t buy into because I’m a professional, that’s a narrative you tell yourself. 

Think about how long you’ve been in business and think about getting 3 – 5 new clients a year, how much revenue is that taking away from you and your family each year?

I want you to write that number down on a piece of paper and then imagine that number in your bank account. 

With that being said I welcome your comments! Check out and my personal site, schedule a call with me, and I’ll see you next time!

My Best Advice for You After 25 Years and 52,000 Individual Coaching Sessions

Welcome to this very special episode of The Magellan Network Show! February 1st, 2019 marks my 25th anniversary of being a coach for financial advisors.  

I’ve done over 52,000 individual coaching sessions. I’m just going to speak to you from my heart today. It has been my privilege to do this. When I first started I would go to an advisor and say to them give me your top three challenges and I’ll solve them for you.


At that time I was called a peak performance consultant because at that time no one knew what a coach was – they would think of sports. Now days everyone knows what a coach is.
What I have found especially working with advisors for a quarter of a century is if you have the right coach you can double or triple your income in two to five years.


I remember the conversation 20 years ago about discount brokers saying they’re going to get rid of our business. Low and behold our industry started to flourish
Now 5 years ago what started happening? People thought the technology and robots are going to take over. I don’t think that will happen.


The one constant we have is that this is a people business. There’s two people that matter – you and who you’re with (your client, your prospect, or your center of influence)
You can go to any conference and run into people who are making $250,000 a year and feel like a failure in this industry. Imagine if you really harnessed what you really wanted to do.


My unique ability is I can sit down with any financial advisor, fill in the gaps for them and help them get it done. The other thing I’ve learned is you either need to evolve or die.

With evolutions come uncomfortableness.


You have to be uncomfortable in order to evolve. As an advisor you always have to be striving.
There’s two things that hold an advisor back from greatness. Their ego and their arrogance.

Your ego and arrogance will cost you millions of dollars in your career. The question is why? The answer is it’s easier to pretend your successful, but in your mind you wish you had that person as a client
Your checking account is a direct correlation to your mindset and psychology. How much time, money, energy and effort do you put into that?


Or are you chasing the next shiny object whether it be a Facebook ad campaign, thinking you need to be on LinkedIn, or running seminars.

In the end, if you get up in the morning and you look in the mirror and you have doubt there is no amount of marketing that will overcome a poor mindset.


My goal as of right now is to coach another 25 years! I’m just at the half point of my summit. I ask myself when am I going to be at my best?

The answer is every day that goes on. My best day as a coach will be my last day because of experience. You can hire the surgeon who’s done 500 knees or you can hire the surgeon who’s done 5,000 knees which one do you want?


There’s no replacement for experience.

That’s in my world and that’s in your world. You can go get designations, but it’s not going to replace experience.


Being an advisor you get to have two things that most human beings would love to have. Economic abundance and time freedom if you build it right.

What percentage of advisors do you think have a business plan? It’s going to be 10 -15%. Most advisors that come to me say I lost it or I don’t have it.


That means as an industry we still haven’t embraced the fact that we are business owners. In the financial industry we talk about we’re going to get certified, get designations and have all this professionalism. Yet, 80% of the industry runs around like sales people. Yet, we wonder why we’re not held to the same level as CPA’s, doctors and attorneys.


What do I think the future holds? First we are entering the golden age as advisors. We are going to have the biggest wave of baby boomers retiring. We are going to have the biggest wave of advisors retiring. We are going to have the final wave the greatest generation passing on and transferring their wealth to the baby boomer generation.


I believe every coach you’ve hired, thought about hiring, every coach that you’re currently engaged with adds value to you. However, you need to understand what your needs are. Don’t just go into a coaching program because you just want to go into a coaching program. Make sure you resonate with your coach.


I’m the only coach who holds right now a multi-day business planning process and conference. Why? Because how can you build something if you don’t have a blueprint.

I plan to coach until the day I die. If you love what you do, do it and do it at a high level. If you think about it you want your clients for life, just as I want my clients for life. You and I are both in a relationship business and that’s great!


What’s going to happen for me in the next 25 years? I’m going to do another 50,000 coaching sessions – I love what I do! This is me celebrating me today and thanking you.

I care a great deal about this industry and I want to see this industry be at its best.


Here’s what I am going to ask you to do:

1. Declare to make the best version of you. This is a personal development business, so improve what you do.

2. Help others at the deepest level. Add value to every human being and make sure they have a positive experience with you. Put them on the proper path whether it’s with you or not.

3. Always reinvest back into yourself. Go to conferences and surround yourself with great people.

4. Give back. Whether it’s through time or money give back to the world.

5. Find yourself a coach, someone who you really resonate with. Seek them out and see if it make sense. You need another voice because if you’re just listening to yourself you may become egotistical. Do not let your ego write checks that you can’t cash.


I don’t know if there’s such a thing as investing too much money into yourself. I commit 5% of my income to investing in myself. I have clients that commit to investing 5 – 10% of their income to themselves and here’s the question you need to ask yourself – do you believe you’re worth investing in yourself because that is the business we’re truly in.


You make you a better version of you and your family will thrive, your business will thrive, and your clients will thrive, but you need to believe that you’re worth investing in yourself.


Thank you for listening and thank you for watching. I hope to do these for the next 25 years and thank you for giving me the privilege to help you see things in a different light.

Have a great day!

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Joe is not only a great source of information but he is a great inspiration as well more.
—Douglas Chapman
Senior Financial Strategist, Phoenix Life Insurance
Joe's guidance, knowledge, and support has helped me radically change my professional and personal life. I would not be where I am today without him more.
—Brooks Cory
Joe’s advice and creativity has been a crucial component of my success in the financial services business. He understands what it takes to succeed more.
—Fredrik Borstad

Listen to The Magellan Network Show

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Joe is not only a great source of information but he is a great inspiration as well.

— Douglas Chapman
Senior Financial Strategist, Phoenix Life Insurance

Joe’s guidance, knowledge, and support has helped me radically change my professional and personal life. I would not be where I am today without him.

— Brooks Cory

Joe’s advice and creativity has been a crucial component of my success in the financial services business. He understands what it takes to succeed.

—Fredrik Borstad