Episode – 13

Dave Anthony Wealth Management Expert, Radio Show Host, Entrepreneur and Dealmaker

Description

Dave Anthony, CFP, RMA, is the President and Founder of Anthony Capital, LLC, a registered investment advisor firm. He also founded Side by Side, Quotes.com, and FBIAS: Fact-Based Investment Allocation Strategies.

Dave is a seminar speaker and presenter on retirement income planning, investment management strategies, and veteran’s benefits. He is the host of "The Retirement Income Show with Dave Anthony, CFP®, RMA®" He is currently working on his first book on retirement income planning strategies. He works with affluent retirees and pre-retirees and helps them invest, grow, and manage their wealth. He focuses on Financial Planning, Asset Protection, Tax Strategies and Insurance Planning.


What You Will Learn
- How to handle failure
- The importance of finding a great coach or mentor
- How to adapt your business to Covid-19


Connect with Dave:
Linkedin

Full Transcript

JP Maroney:

Welcome to another edition of the deal flow show. I'm JP Maroney, your host. This is Paul Nicoline. Our cohost for this episode, Paul is the regional director here at Harbor city capital. And, uh, we're excited. We have a great show planned for you today. We have Dave Anthony from Anthony capital out of Colorado. He's going to be joining us for the show here for this interview, going to be sharing from his storehouse of knowledge, sharing principles, strategies, tactics secrets on the deal, making process, and talk hopefully a little bit about his business, how they do business, and also his process for keeping his pipeline full. Dave, we're going to jump in by just talking a little bit about your background, cause I think it's nice for people to maybe have context or framework on your background as a business owner, as a financier, as a capital raising guy. So let's talk a little bit about that background ground, and then we'll get into some of the more detailed question.

Dave Anthony: 

Oh sure. JP I'm a, I'm a certified financial planner. I own a registered investment advisory firm in Denver. Uh, we, we are a fee based firm. Um, you know, I started in the business 20, 25 years ago where I went to school at Utah state university and they had one of the first CFP certified financial planner curriculums in the country. And so one of my advisors was actually on the board for the CFP program. So they kind of incorporated that as I went through and I was doing my studies, but that was, that was right at the height of the, of the.com you know, movement 1998, 1999, 2000. So I can very vividly remember as I was trying to determine my major in life, uh, you know, if I'm spending my time working for money, I wanted to understand how money worked and, and to get money working for me.

Um, so I, you know, I was fortunate enough where I got that CFP designation right out of college. And then I started working on wall street as a day trader as a, as a proprietary trader, right in March of 2000, this kind of when, uh, it's kind of when, when we started the, you know, that, that, that spring and summer of 2000 unbeknownst to us, right, the market had already taken a turn, but that was a great way for me to get, to get some keen insights into really a different side of the business on the, on the proprietary trading side. And from there I've, I've done stints at Merrill Lynch and UBS before I went and started my own investment advisory firm, uh, about five or six years ago.

JP Maroney:

Excellent. Um, let's, let's talk a little bit about the, the boom and the bust, right? So, cause we're talking about this deal making process, ultimately, I'm not sure if you're aware of it, but we're going to be taking a lot of the content from the deal flow show and putting a book together called deal-makers deal breakers. And so it's a lot of these principles and strategies. So having come up and I think a very unique time, I was like, you I'd been building companies at that point for a few years, but, uh, maybe about 10, 11 years at that point. And, uh, was right in the middle of the publishing industry when that whole boom and bust happened. We built our first website right around that time. It was a very interesting time to be in business. Talk a little bit about how you managed through turbulence in the, in the market. And in these times, the, the, maybe the little bit about the mental side of this and how you keep your composure pain points. Absolutely. Because we're dealing with it right now, right. With COVID and all of this people are having to navigate a very unique and interesting situation.

Dave Anthony:

Absolutely. Sure. Sure. Well, when we talk about deals and the art of the deal, I mean, my, my firm now is kind of structured more along the retail side, where I meet with accredited clients and accredited investors, mainly it's retirees that are in their sixties or seventies, and they have a couple of million dollars of assets. And so we're trying to put together a plan for them on how they can, how they can work with our assets for, for the rest of retirement. So we're talking about taxes and insurance and investments. So I'm going to talk about the deal. I mean, this is, this is kind of my niche and working with those accredited high net worth individuals, but my, my background kind of bodes into this, this pressure type situation. When you talk about the boom and the bus. I vividly remember when I first started working on wall street as a, as a proprietary trader, they weren't necessarily looking for guys that had the Ivy league pedigree and, and the Harvard MBAs, um, because they could find people that have the knowledge, what they couldn't find and what they couldn't assess was your ability to deal well under pressure, uh, in, in, in this essence it was trading.

So I think a key thing that kind of, that kind of, um, you know, was, was beneficial for me. It was my background. I, I don't want to say as a risk taker, but growing up in the mountains, you know, I had a strong background with snowboarding and climbing and some of these adventure activities. So someone who had the ability to take calculated risks, understand the dangers that were there, but they could still move forward with the plan and the fall, that plan, that, that team, to that, that seemed to bode well, when you have millions of dollars on the line and you're trading a, a proprietary account. As a matter of fact, I remember one of the best traders that I was ever with. Uh, you know, didn't come to work and in a three piece suit, he actually skateboarded down to wall street. Um, our, our office was on the one. Uh, we were out there at the mercantile, the New York mercantile exchange. I'm this kid we would put into wall street and you wouldn't know it but day in and day out, he's making 50, 75, a hundred thousand dollars of monies as a prop traitor and escape boarding back and forth more so kind of funny.

JP Maroney:

Interesting. So we could say that you snowboarded to work, it's this

Dave Anthony:

Dynamic of just, you know, understanding what the box is, understanding what the risks are and making sure that you have the right equipment, the right instrument, the right tools to handle that, uh, that risk as mentioned above I'm a big climber. So if you're prepared and you've got the right gear, you know, everything's fine. But if you don't, it should be an enjoyable trip. Can turn, can turn South rather quickly.

JP Maroney:

Right. Right, right. Yeah. We understand.

Dave Anthony: 

Do you have a radio show? Yeah. My radio show is called the retirement income show with Dave Anthony in the domain for that as the retirement income show.com. But I've on the rail on the radio about four or five years now, uh, as, as I would go to different conferences and networking events, I'm a big believer in coaching and finding people that are, that are smarter than you, right. And who are really knocking the ball out of the park and just finding out what systems are they implementing? What things are they doing that are making them successful and specifically making their life more efficient and more effective. And how can I copy those types of things? I mean, they, they put their pants on one leg at a time just like me. So, you know, if they're successful doing certain things, why can't I learn from them?

I'm a big believer in coaching and finding people that are, that are smarter than you, right. And who are really knocking the ball out of the park and just finding out what systems are they implementing? What things are they doing that are making them successful and specifically making their life more efficient and more effective. And how can I copy those types of things? I mean, they, they put their pants on one leg at a time just like me. So, you know, if they're successful doing certain things, why can't I learn from them?

So it makes the process or the deal a lot simpler because they're comfortable with the strategies and the techniques and things like that throughout there. So it brings in a different type of client versus someone who's just showing up at a, at a workshop or a mailer that we may send out as well. Is that a local show or is that a national show? Well, it's, it's in the Denver market, but we're being picked up, um, you know, by, by more and more syndicates, I know in the Chicago area and we're down in Texas, we got picked, picked up by a station in Washington. Uh, so w on one of our syndicates is the gab radio network. Um, so we're, we're constantly picking up additional, additional airtime as it becomes available in other markets.

JP Maroney:

I, years ago, I learned something and I've been sharing this for a long time. I often say that people buy in layers, they learn in layers. They also build trust in layers. And what you're talking about makes complete sense because when you've got, um, people that you're trying to build relationships with, every single one of those episodes that they listen to is another layer of trust that's built on. And we're big on content marketing and content as a way to build relationships and trust and bonding. I was talking to our team here last week, our CFO Davon Dames and I were in a meeting, went into a meeting with a brand new bank that we're looking to build a relationship with and the CEO, the regional man, or the branch manager. And one of the people that's involved in the bank had all watched our YouTube videos, had read some of our materials. They were very familiar with us, and it really accelerated their process of doing business with us because those layers were on. I'm curious, you talked about that part of the process. How much do you rely on the deal flow on the, uh, the radio show to keep your deal flow pipeline full in terms of like, w how, how important is that to your overall process of deal flow?

Dave Anthony:

That's really a great question because on one end, you've got the component of, of, are you a, a shotgun? You know, are you a machine gun? We were going out there and just shooting at everything, or are you a sniper I'm using this, this Hunter analogy. And we found more benefit in being a sniper and having a very, you know, calculator approach to who the exact type of client is that we can help. What, what is our avatar client, and then specialize, and then specializing in that niche, for example, that, that the type of individual that responds best to what we do is someone who's within five years of retirement, whether they've already retired, they have a net worth of maybe two to $5 million of assets. So they're not, they're not super, you know, the 10 to 15 to $20 million type client. Although we do come across those every once in a while, it's that two to $5 million net worth.

And what we're talking about kind of resonates with them on what are your needs processes and what are our unique strategy is so that the point of the radio show is we're going out and casting a wide net, but the people that are responding to this call to action, they're self identifying to say, I recognize that I have that problem. And I also recognize that you've presented me with a solution that I, that I'm comfortable and I want to learn more about. So when someone self identifies, it makes it very easy. When, you know, w w when we're talking about services and things that we can help with, because now it becomes not a selling process. We're not trying to sell them a package. We become more of a, of a consultant. And when they understand that we can truly help them set, uh, solve their problem and put them in a better situation than where they, where they were before.

This is where the, you know, the fun of the business comes into play, because not only are we making money, or are we putting them in a better situation, but you really gain this, this, this kind of a, you know, a different relationship with that, with that type of client. And that's where you get, you get more of a reward than just the monetary aspect. You know, you, you really feel like you're, you're changing someone's outlook and changing their, their future by showing them how an integrated kind of comprehensive approach can in these cases be worth several hundreds of thousands, if not millions of dollars over the next 20 or 30 years in retirement, because of the things that we share with them.

JP Maroney:

We had a guest on one of the episodes talking about the difference between an, an investment packaged and protected in a certain way, and through these other opportunities. And as you said, knowing those little secrets and those little, little strategies that you're able to educate and share on a show like that can mean the difference between literally hundreds of the same amount of money invested, but the return and the ultimate outcome. Can I so substantially different, I'm going to go back to the show for just a second. I'm intrigued by that whole idea. I had a mentor years ago that said, JP, what would you rather do sell people one at a time, or get them all in one room and sell them at the same time. And that made an awful lot of sense to me. And I look at webinars like that shows like the deal flow show, slow shows like the retirement income show that you do as an opportunity to reach a broad audience with a single message.

You know, that's marketing leverage. In my opinion, let's talk for just a second about deal making. So ultimately we've got this book coming out called deal makers and deal breakers when you're dealing with other people in the deal process, whether it's strategic partners, whether it's a provider that maybe you're going to bring a product to market, or it's actual clients that you're working with, or maybe a fund, what are the deal breakers for you? In other words, when you encounter a certain personality or a certain issue, what are some of the things that, that it's like, that's a nonstarter.

Dave Anthony:

I learned a long time ago that one of the keys of business, and this is why I'm the business owner is to make sure that you do business with people that, you know, like and trust. So on one end, if we have someone who comes in and they might have, you know, five or $6 million of monies, but they're a jerk and they treat my staff, uh, in, in inappropriately, right. That they're not respectful to my staff or the system, even though we can help them and they may want to do business, we don't want to do business with that person. So, so make sure you do people that are nice is, is key point number one, right? Do people do bit do business with people that, you know, like and trust and that you would, if you have that, that affinity with it, that seems to avoid a lot of hurdles down the road.

I was talking to an advisor where he went through this, this analogy of everyone has that, that client, that when the phone calls, you don't want to talk to that person because of this, that, or the other, you know, you pass them off to your, your, your sub-advisor or your assistant. If that's the train of thought in your mind with that client, you need to get out of that, of being in a relationship with that. You don't want to another advisor or fire them as a client, because you've only got so much energy in your, in your day. And as a business owner, if you've got processes that are taking away of the amount of energy that you have, I mean, this is, this is what your staff should do. They should protect you from these things that suck energy out of your day. So you can focus on what you do best. And again, key number one is make sure you're doing business with people that you like and who are nice.

JP Maroney:

I love that. That is interesting. There really is. There's a, there's a lender, a young broker though. There's a, I don't know if it's a written law or an unwritten law, but there's a law thing. I teach called the law of emotional gravity. You'll, you'll appreciate this. The law of emotional gravity States, that one negative person can pull down five positive people, but five positive people can't pull one negative person up and you got to get all the negative people out of your life. You absolutely do. Um, are a member of our sales team, business development team, as well as who's the producer. You've talked to him, Daniel Miranda, he's here in the studio today. And, uh, he was at a party with us one night talking to one of my neighbors who runs a fairly large company in the telecom industry. And he had a funny thing. He used an extra book expletive, but he said never worked for a 10. And I think that could be said, has never worked with, you know, it's like people that are going to be negative or going to be distract from the opportunity or the deal. So I love that. That's great advice.

Dave Anthony:

Uh, some people lighten the room when they, when they enter the room and other people lighten the room when they leave the room. Right. So, so which, which type of a person are you, are you bringing the energy? Are you sucking the energy out? Right.

JP Maroney:

I like that. That's another meme. We need to put that on, uh, on one of our little quotes and things

Dave Anthony:

They tell us other than the radio show, how else do you attract clients? Or how do you do your networking? Well, I mean, primarily the radio show keeps us busy enough with the types of flows that th th th that we're getting into the types of clients that we're getting into. We really don't do a lot outside of radio advertising. Uh, we have our website, we do a lot of word of mouth and a lot of client referrals, but, but the radio is targeted enough. And the types of people that are coming to us and the referrals that we get that keeps our pipeline full in the past, of course, we've done a lot of the, uh, a lot of the traditional methods with, with, you know, doing, doing seminars. And there are years and years and years, and I would do educational seminars and educational workshops for folks.

We just find, we get, we get better returns, and it's a better use of my time doing the radio and casting that big net. Um, but the key with, with everything that we do is this idea of a direct response marketing, or direct response advertising, where someone is self identifying, they are responding to the problem that we've presented. So whether we're using a lot of Facebook ads or you, we have a YouTube channel with a lot of videos that we'll put out. One of our favorite series is this is a series that we have called retirement plan smack down where it's kind of a parody, but, you know, we'll, we'll talk about these different case studies that people were bringing to me about how they can go out and get the right life insurance policy or longterm longterm care policy, or how they can, you know, what, what, what's the benefit of converting their IRA over to a Roth IRA. So we'll put that into a somewhat of a, of a comical case study, but people respond to those. And when they self identify, that's just a different type of client that you're working with than someone that you're trying to pitch a product to, you know,

JP Maroney:

Very cool. Very cool. So let's talk about the other side of it. The, not the deal breakers, but talk about a deal that, is there one that stands out a you're proud of it's memorable. Um, it had all the right elements that you could talk about and why that was such a great opportunity. Just what, what came together, the forces that came together to make that work,

Dave Anthony:

But on one end, you know, being in the business for, for, you know, 20, 25 years, uh, the adage is you become old and wise by sometimes being young and stupid. Um, so, so you can learn a lot from your mistakes and the problems that you've had to hopefully learn from those. And the idea is that when you've got a compilation of lists, things that you've learned by, by first by firsthand experiences, that can help you avoid some of the pitfalls and missteps that come into play. So when I look at where I'm at right now in, in, in my business, uh, you know, I've, I've done, you know, Medicare cells, I've done longterm carousels. I, I used to have a stint where I was going door to door and college selling things. Um, and each one of these has kind of added into, you know, a combination of where I'm at now in, uh, in my practice, when I sit down and meet with clients that when these right things come together, I've seen enough of these components to know that the deal is going to work well.

Dave Anthony: 

Like, I'll give you an example. Um, we started a private placement fund a few years ago that invest in life settlement contracts. A lot of your listeners may not be aware of this asset class, but it's a, it's a multibillion dollar business where you've got folks in their eighties and nineties who own life insurance policies that they no longer want or no longer need, or can no longer afford. And in the life insurance industry, 90 to 95% of insurance policies expire without a death claim, which means that the folks we have certain age and they say, well, I'm not dead yet. I don't need my money from this, from this policy. Uh, I'm just going to let this expire well, there's a market that exists where folks can actually sell those life insurance policies for cash. So when we talk about a deal, we're trying to create a win, win, win for everyone involved in that process.

Dave Anthony:

But what we're looking at, the different components of, if we're going in and we're purchasing a policy, we want it to be a, you know, a good deal for the investors that we're working with. We want it to be a good deal for the individual that we're purchasing that policy from. And we want it to be a good deal for us as the managers of that policy. So as these things come together, there, there creates different different scenarios and opportunities where, you know, we can go in and purchase, you know, two or $300,000 policy with a million dollar death benefit. And then when those policies pay out, you know, we collect them at seven or $800,000 difference between what we paid for the pulse and what we got for the policy. But it's, it's really gratifying because it's a combination of a really the past 20 or 25 years of working in insurance, of working in, in investments. And seeing these things come together at the right place and right time, as, as the adage says, you know, there is no, well, sometimes there's, there's, there's luck and things, but there's certain types of people that seem to be more lucky now than others. And that's usually a function of their level of preparation that they've got taking, taking into the, you know, the deal there they're trying to close.

JP Maroney:

Is it the old saying is when preparation or luck is when preparation meets opportunity or something like that? Yeah, I think it was Goldberg Goldman from MGM that said the harder I work, the luckier I get. So, um, let's, let's talk just a little bit more about the deal process. Now, any deals come to mind, it's kind of like the deal that got away, um, that in your own history of doing business and you, do you look back on it and go, boy, I wish I had done that one, or I'm glad I passed or what,

Dave Anthony:

Yeah. Yeah. Well, on one end, you know, hindsight is 2020. So, so we've got a plethora of, of, of Dillon options. And right now is a real good example on, uh, just what's happened with the, with the coronavirus stimulus payments, you know, in my position as managing monies. I remember getting on the phone with certain clients and mid-March when the markets were down 35, 40% and saying, Hey, right now in where we're at, we're at certain levels in the market, we're, you know, we, we should be looking at an opportunity to put money to work here. Um, and you want to buy to weakness and then sell it to strength. And the conversation with some of these clients was Dave, you know, the markets are down 40% right now world's coming to an end. Right. I'm scared. Right. I don't, I don't necessarily want to go in and do that.

So, so now these clients are calling back to say, okay, we're ready to put some money in the market when the markets are now back at back at all time highs. So when you look at deals, things that, that, that got away, that's kind of a, an easy dynamic. And it's, it's, it's, it's difficult sometimes to, to portray that to clients to say, now is the time to act when it might be a little bit uncomfortable to go in and do that. But yeah, there's a, there's a plethora of options of saying, you know, we, we have the opportunity buying, uh, buying this stock or this particular investment. And now look at step three, you know, three to four to five times fold on, on what it was. But if I found that if we can position with clients again, the reasoning on why we're doing something and show them other ancillary benefits, benefits from a tax standpoint, or from a fee standpoint, or even a worst case scenario, if we do a and AA falls apart, we've, we've still got safety mechanisms and things in place where you're going to be okay. And that, and that can help clients pull the trigger a little bit more, as well as showing them, you know, the, the overall impact of what that, of what that decision is having on their plan.

JP Maroney:

What is your deal evaluation process or your due diligence process? How obviously you're a fiduciary, right? So you're responsible, you're, you're on the mountain sort of looking for the next opportunity, but also looking for the problems that might be out there. What is your process for making sure that you've checked things out in a deal that it's going to be good for your call?

Dave Anthony:

Yeah, we do a lot of private placement offerings with, uh, with, with clients. And this is just, just kind of taking advantage of this, of this anomaly that exists in the marketplace, where, you know, you've got the Wilshire 5,000 index, which doesn't even have 5,000 stocks in it anymore. There's only 3,500 stocks. And then in the wheelchair are 5,000. So, so boats have this idea that there's a lot of money in the private marketplace. That's that that's looking to go to work. You've just got to make sure that you can sift through the good, the bad and the ugly to present those deals to clients, because you're right as a fiduciary, I mean, nothing, nothing irks me more than getting burned by a deal and putting a client into, into a bad deal. So, so my process of how we kind of analyze what good offerings are or what our good offerings are usually starts at the very top on interviewing management and finding out what w w what their systems are in place that they have, because if someone has good systems, they have good personnel, they can generally weather a lot of the, you know, a lot of the surprises that, that, that, that, that come their way.

And I'm also a big believer in just doing as many, you know, personal visits and in meetings with folks as you can, because it usually gives you a good idea on what they believe in what they, what they stand for, but having good, smart people that have good, strong businesses in place and good processes in place can generally handle a lot of the problems and pitfalls and curve balls that are never really to come their way. And that's what you want to find out to make sure that you're working with, with a systems organize type entity. And that's what I, like you mentioned,

JP Maroney:

The in person meetings obviously COVID has affected that aspect of it. Um, even today in the studio, we have George Devolder, who's our regional director from our New York office. And he we've talked many times about that even like New York city as a ghost town, Manhattan is a ghost town right now, but people have left the city kind of thing, especially the work day. So, um, number one question, I guess, around that is you mentioned meet as many meeting in person is how important is it for you to look somebody in the eye and press the flesh before finalizing a deal? And next, how are you adapting to that during this time? Cause, I mean, obviously this show will come out sometime in Q four of 2020, maybe this is lifted, but I sincerely doubt that this has completely lifted. People are still having to deal with this as well as I think people now are looking at through a whole new lens, a whole new paradigm of doing business. I think many people are going to be willing to do what we're doing here today, a video conference call when they would have done it in person. So how important is that to you and then how you having to adapt?

Dave Anthony:

Yeah, well, in my business, when, when I'm sitting down with a client and they've got three or $4 million, I mean, this is their life's work. Uh, and so for some of them it had, or the understanding was, you know, you need to meet face to face, you've gotta meet eye to eye and need a knee to kind of get this deal done. Uh, when COVID hit shift that online and we'd already had a strong online presence, you know, primarily with our radio show and some of our, our YouTube channels. So what happened in the minds of, of consumers and potential clients, was it shifted to this online format within their they're watching YouTube channels or listening to more rebroadcasts of the radio show. They're getting familiar with what we do. And they were okay on doing a lot of these zoom meetings and in these video conferencing meetings.

So I see that, and as it turns out, a lot of them, once they get the familiarity, they would prefer that instead of driving through traffic and coming to the office and stone and so forth. So we'll, we'll see to what degree this, this changes moving forward. But I love the aspect of, of having these digital meetings in these digital formats. And for the most part, clients have liked that as well. But if, if it is an important issue for the client, and it's a deal breaker that we need to meet, then obviously we'll, we'll find a way to meet and make it happen. Wonderful them. Can you tell us

JP Maroney:

Non traditional investments and what kinds

Paul Nicolini:

An appetite to your clients have for that? And maybe more specifically, what kind of nontraditional investments do you offer those people?

Dave Anthony:

Yeah, this is a, a great question. Um, and also, I think it's one of the great growth areas in, in 2020 moving forward. I touched on that a little bit before about the creation of the jobs act that the Trump put into play. And part of the, uh, part of his tax plan was the deregulation of a lot of the restrictions that had had had come with private placement offerings or smaller type companies to be able to go out and raise capital. I mean, before the burden to go through and put these investments in place was just astronomical. But, but now you can set up and set up some of these entities and some of these fundraising ideas, whether it's crowdfunding or other types of options, that that can be very dynamic. They are non traditional. Let me say traditional are saying outside of, of stocks, bonds, and mutual funds and maybe real estate in that component.

Uh, but there is a, there was an influx and now there's, there's trillions of dollars of cash of capital in the capital markets that are looking to be allocated. And folks are hungry sometimes for some outside the box ideas. So we have three different private placement offerings that have worked well for us and our clients. And we're trying to find solutions where we can get multiple kind of birds with one stone, if you will, uh, solutions that we can offer that give the clients a good rate of return that give them a tax benefit. And they give them, you know, uh, a great cashflow in their money as well. So if we can combine that and show this how, and show them how some of these alternative investments, these private placement offerings can improve their situation versus what they're doing right now. Again, it's kind of a win win for everyone.

I made the analogy on my radio show that, you know, you've got, you've got different types of tools are available in a toolbox. And if you're working with a, with the w with, you know, a carpenter and the only tool that they have is a hammer. Well, pretty soon everything looks like a nail and they're just gonna rack away. If you're working with it's truly independent, they have a broad abroad, you know, arsenal of tools and instruments that they can use. This is key moving forward, you know, with, with my kids, I make them mower backyard. Uh, and there's a difference between them going out and trying to cut the grass with a pair of scissors versus using a, you know, a lawnmower versus using a, a riding lawnmower. There's just different tools and different and different techniques and different instruments. And I find that the alternative asset space, especially some of these private placement offerings when properly implemented, can be game changers for clients moving forward. But, you know, a lot of it is just education that they're not familiar, or they're not aware of what these, of what these tools can do. Uh, but you know, with my kids, once they saw, what were they gonna do with the riding lawnmower versus, you know, a push

JP Maroney:

I was going to say, don't get them used to the riding lawnmower

Dave Anthony:

Default on that with my kids, I would make the Mo the grass first with the push lawn more internally. So they would appreciate the benefit of that that came from the riding lawnmower. Because if you don't, if you just jumped right to the riding lawnmower, you've got to work sets of work, you think that's, that's the way that it is

JP Maroney:

Never get them to push it. That's for sure. Yeah. Good dad. You, uh, you obviously lenient, I spoke about this earlier in the interview. You lean in toward content based or education based marketing, right? At the end of the day, you wouldn't be doing it. If it didn't bring a benefit to your business, ultimately, but as a professional in the finance space, especially as a registered investment firm, because we get this question from other RAs, broker dealers, et cetera, how can one like yourself who is, makes up a lot of our audience go out and use education based marketing without violating any of the constraints of compliance? How can you do that in a compliant and, and an ethical way, um, but still get your message across. You're obviously serving people when you're educating, but I know a lot of guys that are absolutely afraid to show up on that camera on it, right?

Dave Anthony:

Yeah, this is, this is a great point. I remember when I started working at Merrill Lynch and nothing against Merrill Lynch, uh, but when I sat down and I was meeting with a client and we were talking about, you know, a longterm care solution, uh, we, we presented a solution from, from a company that Merrill Lynch didn't represent. I said, Hey, I shot the market. And this looks like a good option for you. My manager came back to me and he said, Dave, you're, what are you doing? Talking about this other company. We can't sell that company. You know, you can't make any money doing that. I said, well, I, I know, but I'm, you know, I'm a certified financial planner. I'm supposed to be a fiduciary. I'm working for the best interest of the client. This was the best choice for them. He said, Dave, you know, you can't, you can't work in that environment.

So, so on one end, it depends on, on how you're structured. And if our audience is mainly registered investment advisors, they'll appreciate this, this takeaway as far as being an employee versus being the business owner. And in, in, in, in the securities world, you know, you've got FINRA regulations, uh, in the broker dealer space. And then you've got the sec regulations. Part of the reasons that I started my own firm and became independent, was it? So I would have the autonomy to move and to act on some of these investment ideas and options that were truly for the benefit of, of my client, because I remember coming up with a good idea and wanting to move forward with it. And then having that get squashed or having that get handcuffed by our, our regulator at the firm, who said, you know, you can't do this for this, this, and this reason.

And mainly it was because there had been another advisor who had gone rogue and the dumb things in appropriately that really burned all the bridges and messed it up for everyone else. So again, being independent and having that flexibility to act and having the ability to go through that, truly being able to use the tools that are out there, I think only comes from that fiduciary space of being an independent, an independent advisor. And that's when you're acting the best interest of the client. And with my, with my regulatory practices, I always go by the pro man rule, right? If you were, if you were in court and someone was trying to prosecute you, who'd, you, you know, show that the key elements and the key points on why, whatever you were doing, put that client in a better situation than where they were than where they were before.

You know, how is this beneficial for the client? If you can answer that question yes. And do it convincingly, um, you know, that that works well and why we're going to move forward and adopt a, uh, a particular strategy. But again, in, in the regulatory space, you know, if you're not, if you're not capable of making your own decisions and what's truly beneficial for the client, then you're not independent. Um, you know, you're, you're, you're generally working for that brokerage firm. And a lot of times when I do speaking engagements, uh, in, in, in other, in other capacities, whether I'm teaching an advisor or whether I'm in a room full of clients, I'll ask clients to ask their advisor that question, right? Where is the money coming from? And if the money is coming from the broker dealer, that's, who's paying the advisor. Although they may say that they're working for you, they're not there they're being paid by Edward Jones or Charles Schwab or Merrill Lynch, or whoever that firm is.

You know, we get paid by the client, you know, follow the money we work for the client. Um, and in doing so gives us that, that independence to use some of these outside the box, private placement offerings, certain investments that otherwise folks wouldn't do. And I think a lot of that to JP is because of unfamiliarity that that quote unquote expert might have with a specific tool. And we found that if someone isn't familiar with something, they'll generally default to the, Oh, don't do it. It's bad. It's wrong. We'll just because you might not know how a specific tool works. Doesn't mean it's not, you know, it's not valid when using the tools of the right professional.

Paul Nicolini:

Excellent, excellent. Dan, can you share with us something that the business community doesn't know about you,

Dave Anthony:

We could go on on the professional side or we can go and kind of on, on the independent side, uh, on the personal side, um, you know, going back to JPS previous comment about, uh, about different videos on the YouTube channel, uh, you know, we, we have a fun little, uh, series called Dave day when I was in college. Uh, I had, I had three college roommates that were all named Dave and we all marry roommates at about the same time. Uh, we've done a house called, called the Dave house, and we all got married about this incidentally. We all had four girls, uh, as far as kid wise, I mean, I have six kids now, but you know, our wife's let us out of the house once a year for this, for this process and this, and this series called Dave day, or, you know, we'll get together and, uh, and have a fun time. But now when, when all the Daves get together, jeez, there's a lot of estrogen, you know, in, in that room, that's kind of a fun component. And if your name Dave, you can come to the next day of day party, there you go. Yeah.

JP Maroney:

Before we finish up, is there, our audience loves to give back. We love to give back. Is there anyone that Paul, myself, Daniel, anyone here at the team at Harbor city or the doom float show team, um, or our audience, anyone that you would, any types of people that you would like to meet to do business with to have reach out to you, uh, strategic partners, strategic alliances, products, issuers, anything, um, and then at the same time, if you want, you're welcome to give out your contact information at this point.

Dave Anthony:

Well, from, from an advisor standpoint, I mean, we're, we're obviously we're looking for that for that key avatar client that fits that three to $5 million kind of kind of net worth is where our, as our main component is, and someone who values and appreciates comprehensive, integrated, integrated planning. We think these are some of the solutions that we provide. And it's not just a one time meeting. We're looking at a process, a comprehensive integrated plan that really puts them in, in a better position than they were before. So it's not just stocks and bonds when we go through a truly comprehensive process. Yes, we're talking about your investments, but we're talking about your taxes and your healthcare and your social security benefits and your home equity and, and annuity and insurance and healthcare, and how all these things come together in a truly comprehensive, integrated plan.

Dave Anthony:

So if that's, if that's attractive to some of your listeners or, or they have, you know, they have connections in that space would be, we'd be happy to entertain that you can find us online@againattheretirementincomeshow.com. You can just Google Anthony capital LLC. And our information will we'll pull up there as well. But we would welcome that again, if your listeners find that there's value in a truly holistic, comprehensive, integrated approach and where that comes into play. But someone that I love that I love to meet was probably my, my boyhood hero. Growing up, I played, I played quarterback on the, on the football team, and then I'd love to meet Joe Montana, you know, someday, and just kinda, kinda, you know, kick it with him and learn more about his life and his processes and what, and what he's done.

JP Maroney:

Excellent. Well, on behalf of the team here at the deal flow show, I'm JP Maroney. Paul Nicoline, my cohost for this episode, Dave Anthony from Anthony capital. Good to have the own. If you're listening or watching this episode, you can find more episodes, more information, subscribe, follow up, contact us@thedealflowshow.com. That's the deal flow show.com. We look forward to seeing you on another episode very soon. And Hey, if you've got a story to tell if you're a capital raiser, if you're somewhere in that spectrum of the capital markets, a service provider, someone who does business, that's putting deals together, a deal maker in the deal making process. We want to hear from you and consider having you on a future episode of the deal float. Once again, I'm JP Maroney, Paul Nicoline, we'll see you next time for more episodes, visit the deal flow show.com and subscribe.

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