A conversation with David Bahnsen, Founder and Managing Partner of The Bahnsen Group.
A sudden bull market downturn driven by an insidious virus has left every advisor looking for novel ways to maintain continuity while providing value to clients. In such unprecedented circumstances, the freedom to be creative and follow one’s instincts – without being confined by a larger corporate agenda – has enabled many in the independent space to seize opportunities unavailable to their counterparts in the brokerage world.
So what are the things that independent advisors are doing differently? To answer that question and share his own unique breakaway journey, David Bahnsen, Founder and Managing Partner of Newport Beach, CA based The Bahnsen Group, joins the show.
David and his firm serve as the quintessential example of how independence has paved the way toward an astounding level of success—and weather this storm in ways he says that he could not have as an employee advisor.
In this episode, David talks about the pushes and pulls toward independence, and ultimately why he feels he’s in the best place to grow his business and serve his clients, including:
- How he and his team are navigating these unprecedented times—and how his experience in the 2008 crisis serves to inform their process today.
- How clients are reacting to the crisis—and how his firm’s philosophy of reinforcing “evergreen behavioral principles” has helped clients develop a higher level of trust.
- How the ability to be creative and authentic in marketing and communications is critical—and how that freedom has impacted his growth over the years.
- What he sees as the pros and cons of being an independent business owner—and what he anticipates the impact of the crisis will be on his business and the space once the dust settles.
As David so aptly shares, “A crisis is not supposed to be a time to formulate your philosophy; it’s supposed to be a time to live out your philosophy.” The freedom, flexibility and control that independence has afforded his business has certainly translated into extraordinary success—and provided a template for how best to navigate a crisis and manage a thriving advisory practice, regardless of market conditions.
For more information about this episode, please links to other resources visit: https://www.diamond-consultants.com/freedom-to-communicate-during-a-crisis-and-beyond-translated-to-4x-growth-ex-morgan-stanley