Episode 201: Peter Mallouk – #1 Financial Advisor In America: Tony Robbins Business Partner

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The Learning Leader Show

“I was not the greatest student, but I loved learning.” – Peter Mallouk on why he earned 4 undergrad degrees, an MBA, a JD, and a CFP

In This Episode, You Will Learn:

  • Common themes of leaders who sustain excellence:
    • Realize there is a recipe: Like baking a cake
    • Bring incremental value
    • Energy
    • Discipline to do it over and over and over
  • Why start his business?  Was uncomfortable just doing Estate planning and working with unethical people
  • Key to success
    • Great early hires helped propel Creative Planning
  • Time management tips
    • Focuses on doing what he enjoys most – Spending time with clients and employees, not pointless meetings
  • “My #1 job is to be the best option for our clients as an advisor.  I spend 99% of my time with clients and employees.”
  • “I loathe meetings and seminars”
  • Key to all of the awards?
    • “Money follows value” — In 2008/2009, people started looking for another financial advisor
  • “We are very good at taking someone good and help make them great”
  • Interview process:
    • They receive over 100 job applications per week
    • Resume screen all
    • Pick the 5 best and do a phone screen
    • Bring the best of those 100 (1 person typically) for an in person interview
    • Meet with 6 different people
    • Within the first 30 days, it still feels like an interview “We throw the ball and they better catch it, it’s hard.”
    • Qualities needed:
      • Education
      • Ability to be detail oriented
      • Great communicator
      • Must be task oriented (“We can’t make them be this, they need to have it”)
      • Make sure they can meet the clients needs
  • How the Tony Robbins relationship started — Peter informed Tony that he didn’t fully understand what he was talking about (in regards to money)
  • “Tony got pissed off and wrote Money: Master The Game…”
  • What to look for in a business?
    • “Find something that is idiot proof because at some point an idiot will be running the company”
  • The keys to look for in a financial advisor
    • Independent – Gets paid the same on every investment no matter what
  • What response has Peter received from other financial advisors?
    • “It has been negative.  I’m okay if they don’t like me.  I’m competing against them, I don’t expect us to all get along.”

Continue Learning:

You may also like these episodes:

Episode 078: Kat Cole – From Hooters Waitress To President of Cinnabon

Episode 071: Nate Boyer – Green Beret, Texas Football, The NFL

Episode 179: How To Sustain Excellence – The Best Answers From 178 Questions

Episode 107: Simon Sinek – Leadership: It Starts With Why

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If you enjoyed hearing Peter Mallouk on the show, please don’t hesitate to send me a note on Twitter or email me.

Episode edited by the great J Scott Donnell

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