How Financial Advisors Can Win More Business Owner Clients

Speaker A: We've seen the stats that even business owners haven't even had the conversation with their spouse. Like 60% of them, something wild. And that's not ideal because their retirement plan maybe, uh, oh, I want to be able to golf every Saturday or, you know, want to take my family on a bunch of vacations. That's not a plan, that's just an idea. And it's really important that advisors get ahead of that conversation. You know, really five, ten years before they're having the conversation now. And be able to plan that out and really envision what that retirement looks like. Because then they're going to stick with you.

Speaker B: Right.

Speaker A: That those assets, that windfall is going to stay with you as the advisor because you were there the past 10 years or five years or whatever the timeframe is.

Speaker B: Yeah.

Speaker A: Um, but you're that trusted advisor. And if you're, if you're not doing it, not to scare advisors, but if you're not doing that, why wouldn't they go to an advisor that is.

Speaker B: Hey there, it's Mike Langford. Welcome to another episode of the Martyr Financial Advisory Podcast. On this episode of the show, Cal Parker from Biz Equity is with me for a live and in person conversation recorded at the Fearless Investing Summit in Denver, Colorado. Kel and I dive into why now is the perfect time for financial advisors to up their game when it comes to serving business owners. Did you know that somewhere between 40 and 50% of millionaires in the United States are business owners? Yeah, it's a huge opportunity. Now, one of the important topics that Kel and I talk about is why so many advisors feel uncomfortable talking to their business owner clients about the value of their business and their plans for exit. And of course we talk about what you can do about it so that you do feel more comfortable and provide more value to your business owner clients. This is an absolutely awesome conversation. You're going to love it. All right now before we get to the conversation with Cal, please do make sure you take a moment to subscribe to the Modern Financial Advisor podcast on Apple Podcasts, Spotify, Amazon, the YouTubes or wherever you like to get your podcast jam on. And if you have a question or a suggestion for a topic or a guest, hit me up. I'm basically at Mike Langford everywhere on the Internet. Or you can shoot us an email podcastinsermarketing.com. okay, let's jump to the conversation with Cal Parker. Well, Cal Parker, so wonderful to see you. Welcome to the Modern Financial Advisor podcast. Great to have you.

Speaker A: Yeah, thanks for Having me really excited for this and, uh, finally excited to meet you in person.

Speaker B: It's so true. It's really wild. Like, you think about how much of your life you have known somebody, but not every see them in person. Like, in fact, I just saw Matt Halloran in person for the first time. We've never met in person. We have done multiple podcasts together. We've chatted m. All the time, and here we are.

Speaker A: Yeah, it's kind of, you know, it's a great thing that these events provide is that ability to meet those people that you see on LinkedIn or see out there and network with, but finally get the opportunity to meet in person. And it seems, you know, people, everyone's typically likable when you meet them in person, which I think is so great about this community.

Speaker B: One of the things that cracks me up is the shock value of how tall or not tall somebody is. Like, you have no idea how you ever meet somebody. You're like, this dude's like six foot five. Like, how did I not know this guy? Yes, yes.

Speaker A: It actually happened. A group here, um, Banzai that we're here with, I didn't know, uh, Bob, who I'm doing a conversation with tomorrow. He's 6 5. Yeah, right. I couldn't tell over the. The zoom meetings that we've had for the past two months. Uh, so it's. It's interesting.

Speaker B: Um, I had the. I had to let somebody down because people thought I was taller than I was. I do all my podcasts standing up. I were standing desk, and my kids play basketball, so they've heard me talk about that. They're like, likeford. I'm disappointed, man. You're literally 5 10.

Speaker A: Well, it was nice when I saw you. And we're about the same size. It was. It was easy.

Speaker B: Exciting stuff. Exciting stuff. Well, I'm thrilled. Not only because we have. We've yet to be able to hang out together. We're going to be doing beers together here while we're here. So we've had some beer chat before. You've done a beer tasting. Uh, you're also my Ireland guide, which is kind of neat. So we're picking your brain about, like, what to do on in Dublin when we're there next year. So it's been good stuff.

Speaker A: Yeah. A lot to share there. A lot of experience. Some beer there as well. So have a lot of experiences, um, there that have been fantastic.

Speaker B: Well, let's launch into the actual reason for the podcast. Uh, biz equity just dropped a complete rebrand Right. Actually last couple of weeks or something like that, right?

Speaker A: Yeah, yeah, I think it was now just about two and a half weeks ago and actually got the brand new fresh gear for the conference.

Speaker B: I don't see any swag for me.

Speaker A: Oh, I got some M for you. Come by the booth.

Speaker B: I love this hat guy.

Speaker A: Yeah, the hats aren't in yet. So the hats are coming. But uh, really excited. These it just in time for the conference. But yeah, we, we did a brand new brand refresh and it just fit where we were as a company today.

Speaker B: Yeah.

Speaker A: Um, Bizequity has always. For those that don't know and those that do know, we've been an established leader in the business valuation space for about a decade.

Speaker B: Yeah.

Speaker A: Um, but it got to the point, right, that, that 10 years that we've been live and have been working with advisors and their business owner clients, you know, it seemed to be we were getting more of that legacy software. And that's never a, uh, good point that any software company wants to reach where they're just known as like that legacy platform. Right. So in today's day and age of AI and you know, modern facing platforms, it was the right time with our new platform updates that we would do a brand refresh.

Speaker B: Yeah.

Speaker A: Um, but a little more on that is we go to these events and people will come by and say, oh, I know you Biz Equity. Right. I used you three years ago at my other firm. What are you guys up to now? And that's kind of why we didn't want to change the name. We have a great cornerstone, um, great backbone at Bizequity. So it was just a new refreshed look and feel. Um, and we're really excited about what we've released and is to release.

Speaker B: That's really cool. You're correct me if I'm wrong, I don't have the exact dates, but you're relatively new to leading the company, right?

Speaker A: Yeah.

Speaker B: Uh, so there was a change where the founder moved on to do some other cool stuff and now you're.

Speaker A: Yeah, our founder, um, he's moved on, he's doing some really cool things with AI and um, he was involved with the company but we had some other leaders over the past few years. But now, um, just in general, I'm leading the team with others. We have a great new uh, COO who's on board, which we haven't really announced yet. So there's some stuff to come out. But uh, it feels great to lead the company now, especially the vision of the product, who we work with, what we want to do outside of business valuation. Um, and I think that's what excites me so much because I have been here for a long time. Uh, it's really cool.

Speaker B: So let's transition into the business valuation part and then it'll help us navigate into kind of like, you know, broader conversation. So most high net worth individuals in America, a huge percentage of them are business owners. Right?

Speaker A: Yeah.

Speaker B: Um, and that's great. It makes sense. Right. You're creating a lot of value for the marketplace, creates a lot of value for you. But most financial advisors have really no idea how to go about taking that business value into account as they're creating a plan. Right. And then really how to walk hand in hand with their client to walk toward like an eventual exit or whatever they want to do with the business. Right.

Speaker A: So, yeah.

Speaker B: So how are you and Biz Equity helping out here?

Speaker A: Yeah, so, you know, it's uh, a, it's an interesting situation because all advisors want to work with business owners.

Speaker B: Sure.

Speaker A: Right. They know that business owners account for about 55%, somewhere between 40 and 55% of um, millionaires in the country. So it's a great deal of business owners that are high targets for these firms. But the ability for an advisor to provide directional advice to a business owner and have it be something that's actually directly related to the business and not just investment strategies, um, has been lacking. Yeah, right. That's something that has been lacking for still over 10 years. Right. And I know Biz Equity has done a great job in allowing business, allowing advisors, excuse me, to value their clients, businesses, but that simply is not enough. Right. Advisors are asking us for more tools. Yeah, yeah. It's great to have this business valuation software to value my client's largest asset. But what else is there? Is there anything in insurance where you can state where a, ah, business owner is underinsured or has no coverage or do they have an identified successor? The emotional side of the business and the legacy, something that's been completely lacking. Right. So that's kind of, um, where we're going with the platform and ensuring that advisors feel comfortable talking to business owners. Because we've had advisors that want to provide valuation and want to offer different advice to business owners, but they don't feel comfortable doing it. Right. So we have a great team that helps advisors and their teams get set up, you know, different talk tracks and collateral education courses, uh, to feel confident providing advice to business owners. Then that's just something that has been Lacking?

Speaker B: Yeah, yeah, for sure. I mean, they, and I can speak for my business. Working with business owners leads you to getting more business owner clients. Right. Business owners are tight in a network. Right. They have a vision for, like, what they want to accomplish. They understand the value of good financial advice. They understand, you know, in my case, you know, podcast and video production. Right. They understand those, those value stats.

Speaker A: Right.

Speaker B: So when you're talking to business owners, you're likely going to grow your business with more business owners. So having the right tools at your disposal to help work with those businesses is going to be important.

Speaker A: Yeah. And if you think about, uh, the timing of it all, I think early on in the biz equity days, we were kind of at the educational forefront for advisors to start working with business owners. Hey, the business is their largest asset. It's really important that you get ahead of the conversation before they exit 10 years down the road. Well, now we're at that time, right? The great wealth transfer that we hear about, the Silver Tsunami, there's all these different terms for it, but advisors are at the forefront to have this conversation today and really attract those business clients. Hey, we can value your business and see if it fits into the retirement plan that you have envisioned for the next 15, 20 years. Would that be something valuable? And we've seen great success stories of winning, you know, multimillion dollar clients from, um, a free valuation of the business. And that's something, that's an incredible value add. And guess what? It's not hard to do. Yeah, right. We've built the platform, the advisors have the easy tools now to use, and we made it really simple.

Speaker B: But, you know, it's funny, I've got a fun story. I've told this story a couple of times, but I don't think I've told a lot of podcasts where I met a guy at a conference, this is going back to like 2011, 2012 days. And he's like, listen, I radically transformed my business. I used to, you know, have $100 million AUM, um, and now we're up at a billion AUM, um, and he's like, I just decided I didn't want to work with smaller clients. So he's like, well, business owners are where it's at.

Speaker A: Yeah.

Speaker B: So what he did, I'm not sure if he used business equity at the time, but he's, uh, he's like, he started doing some research. He found all the small privately owned businesses that were likely worth $50 million or more in his geographic area, created business valuations for these, sent out these nice leather bound packages. Listen, we've done this business valuation for you, love to talk to you about your business, we'd love to help you sell your business. The only thing we ask is when you sell your business, we have the right, we're first in line to manage your assets for you. Right. And help you with your financial plan going forward. And he just talked about how transformative it is for those people because a lot of these people have been working in their business for 20, 30, 40 years.

Speaker A: Ah.

Speaker B: And at some point in time, like, you know, they're looking at, you know, the husband and wife are looking at each other going, I think I'd like to do something else but get up and work six days. So it's really powerful.

Speaker A: But it's funny too that that last piece of that conversation I want to go back to is we've seen the stats that even business owners haven't even had the conversation with their spouse. Like 60% of them, something wild. Um, and that's not ideal because their retirement plan maybe, oh, I want to be able to golf every Saturday or you know, want to take my family on a bunch of vacations. That's not a plan. Right. That's just an idea. And it's really important that advisors get ahead of that conversation. You know, really five, ten years before they're having the conversation now. Um, and be able to plan that out and really envision what that retirement looks like because then they're going to stick with you.

Speaker B: Right?

Speaker A: Those assets, that windfall is going to stay with you as the advisor because you were there the past 10 years or five years or whatever the, the timeframe is.

Speaker B: Yeah.

Speaker A: Um, but you're that trusted advisor and if you're, if you're not doing it, not to scare advisors, but if you're not doing that, why wouldn't they go to an advisor that is.

Speaker B: Well, and you're leaving yourself open to somebody else coming in and talking to them. You know, I think I've met a lot of advisors over the years and there's a healthy dose of paranoia, right. Like, you know, some of them are paranoid to be too active on LinkedIn. They don't want people seeing who their clients are, all that type of stuff. But like, if you're leaving something so big on the table as like the person who talks to them first about the value of their business, about the plans for the exit of the business. And I want to talk about your new exit valuation module here. Uh, the person who has that Conversation with them first is in line. Why didn't you ever talk to me about this?

Speaker A: And it's important, too, right? It's important to use the different centers of influence and the adjacent advisors, whether it is a CPA or an investment banker. But if you're the one that's guiding those conversations, you're still there, right. They're still trusting you. But it's important that you, as the advisor, are really that one that sets forth those conversations and doesn't say, oh, we'll tackle it in a few years, because again, then you do open yourself up.

Speaker B: Right.

Speaker A: And, you know, let's be honest. Just plugging in the valuation figure into an E Money and. Right. Capital. Right. We, you know, you can do that today. Right. And, hey, what's your, the value of your business? Uh, it's, you know, $5 million. Okay. Well, you can type in your plans and create this whole retirement plan on, you know, an inaccurate number.

Speaker B: Yeah.

Speaker A: What if that business was worth 10 million? Right. Or what if it's 2? We've seen both examples, um, which I think it's, you know, why it's so important to really get ahead of the conversation.

Speaker B: Yeah, I 100% agree. It's. It's interesting. A long time ago, when I was a financial advisor, I remember I had this one client just at the beginning of the relationship. He looks at me and he goes, mike, you were a marital compromise. He didn't think he needed a financial advisor. His wife was like, no, we do. Uh, we're not going to be DIYing it. And over the years, I've realized that for many advisors, they are kind of like a counselor because you're managing. If it's, let's just say it's your prototypical husband and wife couple. Right. With some children. Those people have some shared hopes and dreams, but they have different perspectives on how those hopes and dreams are going to come. Like, where are we going to retire? What type, um, of college we're going to send our kids to all these types of things. Well, the business, again, for most of them, being their biggest asset, is going to be an interesting conversation. Like, we going to run this? Are you going to always work until you're 80? Or are we going to someday sell this thing? Are we going to turn it over to the kids, or what's the deal?

Speaker A: And those are really the conversations that, you know, a business owner thinks about. Right. Maybe when they go to sleep. And that's maybe what keeps them up. But, you know, they should be having that with you. As the advisor, you know, being that therapist. And we, uh, have a great client, Tim Petrie. He's a CPA and advisor, actually does both. Um, but he said it, he's like, I am the therapist for my clients. Which I think my wife, who is an actual therapist might disagree. But you know, but still, like, hey, advisors, you want to be that trusted person and point man that you know, the business owner is going to with everything and set that plan and make sure everything is ready to go for the future.

Speaker B: That's great. That's great. So let's talk about the exit valuation model that you launched. Uh, I believe it was in June.

Speaker A: Yeah.

Speaker B: Uh, that's kind of a perfect example of like a tool that's designed to help facilitate this conversation.

Speaker A: Yeah. So right now it's actually improving. So last June we've gotten so much feedback from advisors. It's great to know what the business is worth today. But what is it going to be and what is going to be worth in 10 years? What is it going to be worth in five years? Well, let's play around with the numbers a little bit. In the growth levers, let's say it's 10% growth rate over a 5% growth rate. And it just allows the advisor to sit down with a client and really have that exit conversation or timeline conversation so that they can actually set up an accurate retirement plan.

Speaker B: Yeah.

Speaker A: And hey, that's if everything goes to plan. Like the financial mix stays the same based on the last three years of financial data. But now the advisor is forward looking and being proactive. Um, which is much better than sitting in the backseat and saying, oh, you know, it's 14 million in five years it'll be worth, you know, 17 if everything goes right. Like we want to have that actual data and we want the advisors to be able to show that to a client. And that's what's really important. Um, and that's something too. Like we're working on this awesome module for exit readiness as well, which, um, is something, you know, many platforms m have, especially in the exit planning community. Um, ours is going to be a little unique, a little different. Um, and we're really excited about it.

Speaker B: We'll define for those who don't know.

Speaker A: Yeah.

Speaker B: What does exit readiness mean at a broad level so that a financial advisor who may not have had conversations yet with their business owner clients can understand it.

Speaker A: Yeah. And I think it ties back into all of the conversations we've had just now. Right. It's the emotional side of things, you know, how prepared is an owner for an exit? And maybe they're not at all. Right. And that's fine. They're not looking to retire yet or transfer it to someone in the family. But, um, it's really important to have that conversation. And, and we can score different areas, uh, on the readiness, um, but also not just the emotional side, the financial side. Right. Like our system does a great job of being financially backed and that's ultimately what drives the valuation. Um, but like, how healthy are the documents? Right. And documentation in the accounting. Is this coming directly from a QuickBooks file? Is it user generated? Right, so there's a lot of different scoring there that we can do. Um, but then there's the other analysis. Like what does the marketing look like for the business? Is that something that needs to improve? So it's really like a scorecard for someone that might be interested in buying the business that can say, all right, well, the business is valued here, but there's all these little factors that the owner, it's not really that attractive because we know it's going to be a lot of work. Whereas if we can buy the same size business, that's really attractive and all these scales and that's going to be a lot easier for us to.

Speaker B: Yeah, it is an interesting conversation to have with somebody who's a business owner that your business may not be worth what you think it is. Not because it's not creating a lot of value in terms of sales and profitability, but some of the other components of it were like, hey, um, maybe certain things haven't been systematized yet, or maybe some of the systems you're using are really antiquated and somebody is going to have to take over that business and convert you over to a more modern system or whatever that is. Those things can material because when you think about buying something, you're asking yourself, like, how quickly can I take it over and have it running? I'm not just buying it for what it's worth today. I'm, um, buying it for what it is today so that I can grow it.

Speaker A: Oh yeah.

Speaker B: How growable is it? There's lots of factors going in.

Speaker A: No one wants to buy a stagnant business.

Speaker B: Right.

Speaker A: And, and that's what all the, the exit tools really help provide. Um, and really uncover those, those layers underneath the value of the business that the business owner can work on. But that's a good thing. It's fine if there's like a low score in certain categories, so let's dive

Speaker B: into like something that I really want to nerd out on a little bit. You partnered with the American City business journals to launch what is essentially the first real time private company valuation index. I'm really going to, I want to, uh, understand like, how this works because, you know, for decades, you know, business owners have had to like, kind of rely on public market comps or uh, maybe, you know, one person comes in and says, oh yeah, we could sell your business for 50 million. They really have no idea. So like, what kind of data is in the index and then. And how should advisors use it for reference to inform their at least early conversations with a client?

Speaker A: Yeah, and this is something that we've thought about for years, um, at Biz Equity. So it's taken a while to come to fruition just because we're focused on other sides of the business. But it's something that we want to deliver. Like we have so much data on private businesses, um, and we work with so many great data sources and data companies as well to get comps, you know, that, you know, an individual typically wouldn't be able to receive. But we wanted there to be a highlight to show like, hey, if you're a dental practice in, you know, Philadelphia, Pennsylvania, right. This is what a typical dental practice in this area sells for. This is what the revenue looks like. This is what their, um, EBITDA looks like. We just want there to be more data out there for not only the business owner, but for an advisor to be able to have that intelligent conversation to see, like, okay, well maybe this is an area that I should target in my area. Right. You mentioned that before, like searching a radius for a certain size business. Right. It's, it's not the same tool as that, but we want to provide just that, market analysis and the health of, uh, industries as well.

Speaker B: I like that. For the advisor to use it as a targeting thing, like one of my little. Maybe my son doesn't think it's as fun as I do, but I think it's fun is like we'll be driving and we do road trips on. He goes to lsu. So we drive from Austin, uh, to Baton Rouge a couple times a year and that type of stuff. And I love looking on the side of the highway at all these different businesses that you have no idea who works there, how many people work there, or whatever. And then you think to yourself, wait a minute, there's a crap ton of cars parked in that parking lot. That is a probably business that's doing hundreds of millions of dollars. I've never even heard of that company being able to get that kind of insights about what's going on in your community and. Or maybe you have one client in the ball bearing business.

Speaker A: Yeah.

Speaker B: And you're like, well, wait a minute, how many other ball bearing businesses are there in this state and in America could I be serving them?

Speaker A: And that's something advisors ask from us. I mean, we've had a prospecting solution for years and, um, that's going through an overhaul as well right now where you can search in your area, look at those hidden gems.

Speaker B: Yeah.

Speaker A: Because I'm sure going anywhere there's businesses you have no idea, they're, you know, $30 million in revenue. You would have no, no clue because you're not maybe not in that world. Right. Or that industry and you wouldn't really have an idea. But, um, it's so important for advisors to be on, on the eight ball. Right. And be able to be knowledgeable on, on all these things. And the index to like, something that we get a lot of questions on, like, how are tariffs impacting valuations? So that's a living, breathing, real time, like, hey, we can see immediately, like, if there was something in the government or, you know, God forbid, Covid. Right. We had that years ago. Like, we want to be able to be that backbone for eventually, like someone to say, oh, the biz equity, you know, that private company index is down. So there's like a lot of cool stuff that we can do with it. Um, so right now it's kind of like, let's see what we can do with it.

Speaker B: I love it. I love it. It's really, I mean, it is, it's, it's one of those things that's been a black box for so long and now, you know, because technology is advancing. Right. Because some of the, um, you mentioned the tariffs, you know, some of these things are inferential or derivative components to evaluation that, like, we can absolutely, uh, quantify that and put it into an index, right?

Speaker A: Oh, big time. Yeah. And there's no reason not to, like, especially for our clients, our big firms that are working with, you know, $100 million clients, uh, who have contracts overseas. It's inherently important to them. Right. Because they want to be that, you know, that advisor that has all the information. We want to be able to have all of it and store it.

Speaker B: Awesome. Awesome. All right, so my favorite slash, last question.

Speaker A: Yeah, here we go.

Speaker B: Is the crystal ball question. Right. Kind of like your vision for the future. Right. We talked a little bit about it so far. A little bit um, but where is business owner planning going? Right? I mean, I think every advisor wants business owners because they understand this or a lot of where the wealth is and so forth. Well, where do you see it heading? Like what, you know, give me your, you know, three to five year kind of crystal ball.

Speaker A: Yeah. So this is the deal, I think. I mean we see it every day now just based on inbound interest and all the articles published on the great wealth transfer. Every firm is going to have specific deliverables, technology for business owners. Um, they see the opportunity that's in front of them over the next 10 years. We know that 5 trillion is going to be transferred. Um, now it should be more than that. But not every business is going to successfully transact. Unfortunately, that's just the case. But advisors are going to look at business owners as that top organic growth driver. I think that's what we're going to see over the next two to five years. And it's going to be a focus. We're seeing it already. Um, it's just the starting point. But business owners are really going to be like, this is how we're going to 10x our firm. I think that's what we're going to see.

Speaker B: That's awesome. I love it. Okay, so one last, last question. I started thinking about it. I'm like, all right. One of the things that's interesting to me when I get to talk to people like yourself, uh, is because of your position with Biz Equity and what you do, you get to see things from like a 30,000 foot level that most people never get access to. That kind of vantage point. What are some businesses that you've seen where you're like, I had no idea that business existed and I had no idea that they would be this valuable. Like, what are some of the stuff that you nerd out on?

Speaker A: Um, I can't share some of them because, you know, I don't know if the audience would like it. But, uh, there's a funny story. There's a lot of funny stories. But now they're like, there's specific. Like, I know we're at a great convention right now. Nitrogen Fearless. Um, thanks for having us both. But, uh, like a cat convention. Like that.

Speaker B: Cats.

Speaker A: Cat? Yeah, cats. Like it's a convention. Think about this Denver hall, but it was for cat conventions and they do it all over the country.

Speaker B: Okay?

Speaker A: Like, that's something millions and millions and millions and millions of dollars. Something you would never have a clue or think of. Um, now that's still convention based. But I'm trying to think, you know, some obscure industries. You know, cattle manufacturing. Like, it's not cattle manufacturing, but it's involved with cattle.

Speaker B: Sure.

Speaker A: You know, millions of dollars. Um, oil companies. There is a client, and I know we can show this up in. In Washington. It was for, like, agriculture, um, of a specific, like, not mushroom, but, you know, something of that sort. And it was a company that was worth billions of dollars. So it's like, my gosh. But we have the data, you know, that that's what's really cool. And something we haven't really talked about. I know we talked about the index, but we have data on all these obscure industries.

Speaker B: Yeah.

Speaker A: We can get super nuanced. We have an AI, Uh, search feature to. To be able to be like, hey, this is my client's business. What would be the best industry? And we'll give, uh, a few different recommendations.

Speaker B: Well, and that is. That's where some of the power comes in. Right. Like, for your client, they only have their one cat conference business. Yeah. Right. So they know their business. They are aware that others exist, but they know what theirs is worth. Right. That type of thing. In many cases, it's a much smaller business and more localized business. They know their thing. They don't have the visibility into all the others that are out there and what they can learn and how much they. It could be more valuable or improved in the valuation of if a couple of things changed.

Speaker A: But, you know, it's unique. And, uh, we could talk all day. You know, I know we're near the end of it, but, uh, what's really cool is, you know, we work with a lot of advisors that work in a specific niche. Maybe it's retail. Um, businesses in Fort Worth, Texas. Right. Whatever it may be, um, you know, they want to be able to control the multiple a little bit and control some of the data to be like, hey, this is really helpful for me. But, like, I know have been being here for 30 years that this is what the multiple should be. And, um, we're doing some really cool things there.

Speaker B: So that's awesome. This has been fantastic. Hell, I'm so glad we got to hang out together in person. I am looking forward to the beers later. You were the second guest today who beers are happening with.

Speaker A: So beers are happening.

Speaker B: Mike's hung over. Tomorrow I got to speak.

Speaker A: Tomorrow we got to break out, so I got to stay. Stay sharp. There you go.

Speaker B: Perfect. Perfect. Well, this has been fantastic. Thanks for coming on the show, buddy.

Speaker A: Thanks, Mike. Thanks for having me.

Speaker B: Thank you. Very much for listening to and or watching this episode of the Modern Financial Advisor Podcast. It's always fantastic to have you with us. Huge props to my man Cal Parker for coming on the show. So great to see him in person. And oh, by the way, just in case you're wondering, we did have beers together in Denver, Colorado. So awesome, awesome stuff. Looking forward to seeing Cal again sometime soon. Now, as I mentioned at the top of the show, please do take a moment to subscribe to the podcast on your favorite podcast platform. And uh. Oh yeah, be nice to each other. We'll see you next time on Financial Advisor Podcast. See ya. Bye.