Kalli
Welcome to A. U. M. We are live, and I'm your host, Kalli Fedusenko of Kalli Collective, a digital marketing agency designed to build relationships between financial advisors And their target audience through data-driven custom content and advertising. Are you passionate about a cause or deeply invested with a nonprofit organization, but you're not quite sure how or if you should include your charitable activities in your marketing?
Today, we're talking with wealth manager, radio show host, author, and founder of Adams Wealth Partners, David Adams, about not only incorporating charitable causes into your marketing but also inviting your clients to get involved too. So make sure to ask your questions in the comments as we go along, and we'll see them on our end and answer them as they come in.
Welcome, David. I am so happy to have you with us today.
David
Great to be here. Thank you.
Kalli
Yeah, um, I'm just going to jump right into some of my questions here, so I've worked with a lot of advisors, and I'd say a hundred percent of them give back in some way, but not many of them consistently talk about their charitable work and even less tie it to a personal experience or conviction.
Um, I've really seen a difference in the way that you talk about the ways you are involved. Um, you have like this willingness to share your personal experience and conviction, which I believe really brings in a relational element that is often missing. Um, so does opening up about your personal life come easily to you, or is that something that you've kind of had to push yourself to do?
David
Yeah. Thanks for those comments. I'd say it's definitely evolved. It's not natural. Um, it's become more natural in the last five years, and that's probably for a couple of reasons. One is the first. I'd say 10 or 15 years of my career doing this when I would join a board or get involved with a nonprofit. A lot of the times it was, it was, you know, something I didn't know a lot about or not that I wasn't passionate about it, but I didn't really have a why behind it.
It was kind of more of a resume builder, or I wanted to get involved, and I was just, but I wasn't that active in the group. Because I was just, you know, just kind of new and also just younger and less life experience, and so as over the last few years, as, as I identified causes I was really passionate about and had a personal connection to, um, it became a lot easier and more natural to share with clients and to get rid of that insecurity that, Oh my gosh, they might.
I think that I'm asking them for money or that this is, um, not appropriate to mix personal business. I got rid of a lot of those insecurities as the Why became, you know, louder in my mind and heart.
Kalli
Yeah, um, and I think it really shows in what you've been producing, too. I've also noticed that you invite people to join in what you're doing. So, um, for example, I know this weekend you did the Walk to End Alzheimer's. Um, and you invited all of your clients to join, but you also gave them your why, just like you're talking about, for doing it, and invited them to join you rather than just joining the cause. Um, so what I normally see is, hey, we're doing this for this organization who does great stuff. Come join us. But the way I see you saying it is this thing happened to my family. No one else should go through it. Here's an organization that does something to stop it. Come join me. And that is just so much more powerful of a message. In fact, that's one of the things, or reasons that it stood out to me is my grandfather passed away from Alzheimer's when I was a child. And it would be like one thing to see that, hey, you're doing this walk. But on top of that, you also have this personal connection. So even though I have the personal connection too, it was like this shared connection that is moving.
David
Yeah, I, well, and sorry about your loss. I know it's been a while, but still, it's, it's a very cruel disease. And so you're right. Something like Alzheimer's; I didn't know anything about it until my mom was diagnosed. Four years ago and passed earlier this year. And as I went through that, it's like anything in life. I, I learned a lot. Unfortunately, I had to reach out to friends and even clients that, um, had shared, they had gone through it and ask questions and just connect with them and learn. And, um, through doing that, a lot of clients became aware of the journey. And so the hardest thing is I first shared it on social media, just, you know, saying, Hey, we're going through this. You know, I'm getting involved with this walk. If you've experienced, gone through this with anybody else, or have questions, if I can help you, let me know if you may be able to help me. Let's have lunch, that sort of thing. So once the awareness got out, people just knew, um, clients knew that I was going through that, and they'd come to meetings and say, how's your mom? How's that going? So, because I let them in early when I would do something like the Walk to End Alzheimer's, it didn't feel weird putting that out there. Yeah, so many people, you know, had asked about it, known about it. Um, and gosh, just the feeling of just knowing we have community and people asking and anything in life that feels really good. And then seeing clients give back and donate to the page and all that was just. was really special as well. So, um, that's the key sharing it though and letting them know how to, I just said, Hey, I just joined the board, the board of, uh, this Alzheimer's group. It's a great cause. I'm trying to help them raise money. You get some response, but that doesn't hit the same as kind of sharing it the way I did. And that's why I think I've been able to make more of an impact, but I certainly didn't do this for 15 years.
Kalli
Yeah. What made you, um, decide to share that side?
David
Um, yeah. just because it was honestly that particular situation with my mom and my dad and my sister trying to figure out and navigate, um, you know, long-term care facilities and just data and doctors and research, it was so hard, and it was consuming probably 50 percent of my day. Um, that I just, I just got used to, you know, people would ask, how are you? You can only say I'm fine for so it'll be okay, but we're going through this, and I just. As I as I did it, the fear went away because the reception from clients and people was, was so kind and nice loving, and helpful that it became kind of second nature. And I've been able to give a lot back now. Now people know, so you lost your mom. We're going through this. How did you find it? What doctor did you go to?
Kalli
Right. Um, yeah. And I think, uh, another piece of it. That's important is that you mentioned it was taking up so much of your time. Um, and I think advisors, sometimes they fear talking about something over and over because it will be annoying. Um, but the, you know, studies show that you have to say something seven times before someone hears it. Uh, so I think maybe you have that consistency where you're bringing it up, but I think that consistency also is coming from that personal connection and time spent. So maybe it's a little bit. Easier to talk about it. Cause, Hey, that's what I'm going through right now.
David
Yeah. If I didn't put the personal connection or if anybody listening is just again saying, Hey, I've joined this nonprofit. I'm trying to help them raise money. Um, that it's not going to hit the same if you do that seven times or ten times, you, you absolutely could annoy some people, although most people that, I mean, they, if they're just going to, if that's the case, they're going to hit delete or something and they're not, I mean, at least you're raising money for a good cause. So they're not going to think you're a bad person or be annoyed in a bad way, but you're just not going to get the impact. And so, you know, it could come across that way. So I think, uh, You know, um, if you do have, if you do join a nonprofit or a some type of charity that you have a why behind, don't waste the opportunity to share that with people, um, and it doesn't have to be as in-depth as. Like my situation with Alzheimer’s because I’m in another group as well that I didn't have a personal connection But I can explain that, but If it is as deep as that like, let people know like I went through this with my friend or my family and this is this is a challenge with it, and this is what I learned, and I need help or I needed help at the time so now I want to make sure other people get that help. That's why, um, people aren't gonna get annoyed with that; they just aren’t; you could really try to annoy people. I mean, you absolutely could, but it would take a lot.
Kalli
Um, let's see, I've also seen, um, again, I, I know most advisors are involved in some sort of charitable cause; I’ve seen that often. Um, but I think a lot of times they're not sure how to invite clients to join them. And so I know beyond the walk that you're also involved with Ancora, which is a nonprofit against human trafficking. Um, how have you been able to invite your clients to join you in that?
David
Yeah. So that's a that's an example of one before this stuff happened with my mom and Alzheimer's, I was just really looking for a very, you know, a nonprofit that I could really, um, you know, Join, but also really add value to with my almost 20 years experience. I was like, I really want to, like, not just do this for a resume builder. I want to really add value and was praying about it and asking people about it. And I won't bore you with how it came about, but I got introduced to the CEO at the time, had coffee with her, and just left in tears. I just couldn't believe the stats. I had no idea that all that went on Greenhills Mall in Tennessee. Like for example, So I, a passion was awoken inside of me about that, and that led to getting involved. But, um, really, to get in, like I said, I wanted to make an impact. So I, I knew I was going to have to, once I, you know, I took about six months to just sit and observe and, and learn more about it. And then. Figure out my position in the board. And once I became chair of the capital campaign committee, I was in charge. I helped do certain events. So I would have like an event at the Bluebird Cafe for, as part of my charitable donation, I'd bring together and just invite clients. Hey, this is not a fundraiser. I want you to come and just. Hear about this cause and get some awareness. A, you might want to get involved. B, you might, maybe you want to give, and if so, that's great, but it's not required or, um, C maybe you can just learn more about this and who knows who you know, or maybe you'll be able to spread the word or help in the future. So I started doing that. That didn't feel, I didn't feel like that was a lot of pressure. So, I had 40-50 people go to Bluebird. Um, then the nonprofit and most nonprofits do this. They put on a once-a-year big fundraiser. I would invite all my clients to that, but that was what I would do there. That's a little trickier because I didn't have the personal story. I made a video. I don't know if you remember back then, but I made a video where I said it at just me talking about some of the stats and how I got involved. And it was, Hey, please come and learn more about this. And I had clients attend that, and like in two weeks, I'm doing a little event at my house with the CEO, and maybe I'm just gonna invite 15 people and just ask, just to spread awareness, and I'm doing like a Q& A session with the CEO, just that sort of thing. So, just kind of learning ways to, it doesn't have to always be about asking for money. And I think that's where advisors fear because we already asked for money in business.
Kalli
Right, Right?
David
Now we want you to give us money for this. And I, and clients, they all have money places and are probably already given money too. So that's the delicate dance is like, you don't want to be annoying, but we want to show our clients that we're real people and we do have hearts. We're not just financial planners watching the stock market every day. And so there is a, there is a way to do that.
Kalli
Yeah. Um, have you found that your clients like getting involved monetarily or with their time? Like, is there a difference between the two?
David
Um, I mean, it's like anything else. It's the law of, you know, of averages. If you take a, if you have 300 clients, um, and I haven't done this analysis, I'm just kind of going by gut, but if I have 300 clients, there's maybe, that, you know, maybe 30 or 40 that gave some money, maybe 50, you know, some money given a couple of hundred. One guy just randomly donated 10, 000 the other day, never new client, never, but I called him because it was such a big gift. And he's like, yeah, my grandmother passed from this. It's a terrible disease. I've never known how to get involved. So, so there's people that do that. And then there's maybe, there's been about 10 people of clients, and there's been more friends, but like 10 clients that have been like, Hey, I gave a little bit of money, but I would love to learn to get involved because. You know, X, Y, Z happen. And then probably three or four of them actually clients have been, got involved on a committee, not on the board, but do volunteer work or like, you know, work with the survivors to do some stuff with thistle farms, whatever it is.
Kalli
Right. Yeah. Um, okay. Speaking of being on the board, uh, this is more of a personal question. How did you Uh, prevent burnout? 'cause I faced that with, um, when I was on a board, and it was just, it was just too much.
David
Yeah. Well, yeah. And uh, and I'd say a lot of advisors, just the way we're wired, I mean, I'm trained to say yes to almost everything. 'cause everything's an opportunity. Every board, you don't know who you're gonna meet, and maybe you're next big client. So I've had to do a lot of just self-work over the years of. And I literally brought this back up the other day because I got off the rails again about the power of saying no and trying to write more space. I did. So when I did the in Ancora, I said that was the only one I was going to do. And I was going to focus on that for two years, say no to everything else. So I can make an impact because I've been on boards before, and it was. I just went there and sat there and raised my hand once, and it didn't feel good. I faced that challenge when the Walked In Alzheimer's asked me to join because I told them, I was like, here's my concern. Um, I said, however, it's such, it literally is, I'm involved in this so much, I can't say no. So I didn't join the board there. I just said, I'm going to be one of the main promoters of the Walked to End Alzheimer's, which is their main fundraiser. I'll have like my dog, Jolene, I had these ideas like sponsor a pet zone, and we'll do all these things, and I'll get my dad, and I'm happy to come on stage and tell my story. So I was just upfront and honest with them of what I could do and full advantage of here's what I'm good at. I can ask clients, I can probably have them help raise money. I can tell my story, I feel comfortable talking in front of a crowd, and I'm willing to have a team booth. And they, they appreciated that, and they said, absolutely. I said, but what I don't think I can do is make all the monthly because I get, I mean, there's monthly and weekly check-ins for meetings. I told them, I'm going to fail at most of those, but I'll be on a big one if you need me to be. But let me do my highest point of impact.
Kalli
Yeah, I think that's actually a great, um, way to attack it is like, Hey, this is what I can offer you.
David
Right. And it's okay to say no to, but I couldn't say no to the Alzheimer's part because I, I wanted to get involved, and I was like, Oh crap, here I go again. I work with clients and do all this stuff. So that, that's been pretty smooth, but I have had to say no. A couple of times recently, uh, a big charity in town asked me if I can do X, Y, Z. Raise money, and I just said, I have so many ask out right now. I've got to focus on my two priorities. Hard to do. Hard to do.
Kalli
It is. Um, Apart from, you know, some of the events that you're doing, um, I guess mostly events because it's the walk, the bluebird. Are there other ways that you're incorporating charitable organizations into your business?
David
Yeah. Good question. Let me think about that. Um, so the emails, letting people in the video, I've done some personal videos, just letting them know the couple of events, um, no, other than the few clients who actually I get to see now, like they're on some of the committees, um, I don't think so. Um, I'd have to think about that. Um, but the goal is always to expand on that. I think that most of my clients know when they see me, they'll be like, Oh yeah, you do stuff with Alzheimer's or you do stuff with human trafficking. So I think I've gotten awareness enough. How do people associate me with those guys versus just David Raymond James financial planner?
Kalli
Yeah. Do you think that you'll stay on the board with Ancora because I know you said you gave it two years? Are you?
David
Yeah. Um, I think so because we're the capital campaign committee that I'm on. We got like a big 3 million. 3 million grant last year from the state and the governor. And so now I've been a part and kind of like, we have that money sitting aside. It's taken a couple of years, a year and a half, to get all the permits to do the building. So I don't want to leave now when the exciting stuff's about to happen. So I'll probably, I'll definitely continue on for the foreseeable future. And then it'll be one of those things I'll probably roll off at some point, but I'll make myself available, and I'll want to stay. I'll still be like, you know, an advocate for it. Maybe speak from, from time to time if they want me to.
Kalli
Um, I'm also, because I've got a few extra minutes here that I can ask these other questions I've got. Um, I'm super interested what the stats are because you mentioned Green Hills Mall, and I'm like, oh, what is happening there?
David
Well, just, the point of that is just that, you know, I tell people, when I first heard about human trafficking, Yeah. I always thought of like a Liam Neeson movie, like the movie Taken, and it's in foreign countries, or it's in like really sketchy areas of the country, but probably in foreign countries, and you know, that sort of thing. And they were like, no, this is Ancora, uh, Tennessee, and this is like, this, and this was, the lady that was the CEO at the time was like, uh, used to be in the field with the TBI, like arresting, um, perpetrators. She said, it's normally. middle-aged white collar, like middle-aged men, uh, white collar bankers, different executives around town that she's personally arrested. She goes, the Green Hills Mall, there'll be, you know, victims that have certain tattoos on certain parts of their body and they pick them up. And this has, she said, it happens all the time in Middle Tennessee. And Green Hills Mall is just an example of... I live in Green Hill. She's like, Oh, it happens all the time there. Um, and then the percentage, like the number of people and stuff, but I just thought this was like a more like a worldwide problem. I didn't know. And it's very, very prominent. Um, and then like the amount of, you know, the amount of money needed to get one survivor. From the time that they call in for help to be on their own and the, you know, the percentages of relapse where they go back. Um, another thing that was interesting too is I didn't know that, you know, and I do this in my Q& A sessions at my house, but, you know, what is the difference between, you know, um, human trafficking versus, um, prostitution versus you know, what percentage are children versus adults and that sort of thing. And I learned that it's usually, you know, has substance abuse involved. Like where the bad person gets the person hooked on heroin or some sort of drug. They become dependent on it. They become their boyfriend or girlfriend, whatever. They create a dependency. And then they go, and the bad stuff begins, and they put them out, and they make money, and they do all the horrible things that we hear about. So, I just didn't know any of that. So now, like you asking that question, now I'm going out and trying to create the dialogue to better answer your question. I would have brought the CEO in, Kelly. She would have the exact stats.
Kalli
Right, right.
David
I'm a connector, and I know enough to just start the conversation. Um, and then you would then go, wow, I had no idea. And then maybe you want to get involved. So that's kind of, uh. That's a perfect example, thanks for asking that, of how the process works. And all of you advisors can do that in some way with your clients, more than one.
Kalli
Right. Right. Uh, you also mentioned you're doing an event at your house. Uh, how, how have you, how are you comfortable bringing people into your house?
David
Well, I've never done that. Never done that. Well, I'll take that back. I did one like a long time ago, like 10 years ago; I did have a song night at my house, and that felt a little weird, but that was a long time ago. I don't know. Cause it's been a long time. I think this is not a. David Adams, Raymond James, Adams Wealth Partners Event. This is, um, and there's only gonna be a few clients. I'm really just trying to find people that I think would be good advocates. Yeah. Um, just because it's an easy way, um, um, to get people to come over and know that it's not a fundraiser to say, Hey, We're going to have wine, cheese appetizers. The CEO is going to come speak; just come over for an hour. I just, I'm going to do a Q and a session that the same kind of questions that I wanted to know when I got joined. that's been easy for me to ask people and them to say yes. Yeah. I don't know. It is, it is a little, and that's okay if you're uncomfortable doing that. Cause everybody's got a different situation there. I know optics can be with clients. Advisor might, you know, there's all sorts of things that go into that. That I understand more, and normally you could just do a restaurant or something. And part of it's cost, just keeping costs down for them. I could have gone and rented a restaurant or something. We just, a lot of people don't want to go to those things at five o'clock at night to a restaurant.
Kalli
Yeah. Especially in Nashville. We got the traffic.
David
Yeah. So it's just like, Hey, come by my house and make them feel more like it's more personal. I'm inviting you to my home to hear about something that's near and dear to my heart. That's an easier way. To get somebody, if it's a financial planning, like a investment seminar, restaurants are great, probably no reason to do your home.
Kalli
Yeah. Um, do you with the switching gears a little bit? So with, uh, Alzheimer's, um, do you feel like you'll make that kind of like a segment of your business for people who are going through that? Like, Hey, here are things that you should look at, um, long-term care facilities or, you know, just based off of your experience.
David
So maybe, maybe not. So far, what it's become is in a meeting, if long-term care comes up, they mentioned something about it. Many times this has come up. I'm like, well, for example, I'm glad I had long-term care. I sold it to my parents 15 years ago when I was newer in the business. I was like, I learned about it. I didn't know if, you know, they, you know, I didn't know that we'd end up needing it. Um, but it turned out to be. Really a blessing. And my mom was in a home for X amount of years, and I walk 'em through that, and it just attaches a more personal story to it. So it come up quite a bit versus me just selling interest. And that's what I was doing 15 years ago. I mean, I knew it was good stuff, but I'd never been through it. And so I could also, the way I was trained to sell it, you know? Right, right. So it comes up that way, and because I know quite a bit, I can give people advice or offline, they'll say, Hey, can we grab coffee? I'd love to hear how you did it, how you did X, Y, Z. Yeah. I haven't made it like a formal part of the process. Yeah. I just think people know I'm a resource.
Kalli
Yeah. Um, yeah. This is all great stuff. Anything else that, um, you think would be important for an advisor to think about if they're, you know, considering a charitable organization and bringing that into your practice more?
David
Yeah, well, just try to think if there's um, you know, when I first started thinking, like what are the things I'm passionate about? Like, I love dogs and stuff, so I was like, well, I'll go join the Humane Society or go try to do these, you know, these things or whatever. And then Alzheimer's part hit about that time, so it became clear what I was supposed to do.
But think about things like that, that you enjoy, that you'd want to make a difference in. The other thing I forgot to tell you, that I think is relevant, It's like with your team because I was doing all this stuff for these two organizations that were important to me, I let them know like, Hey, I'm going to put X amount of our revenue into the Adderall Partners Donor Advise Fund. And then, if you have something important to you, you can let the team know, and we'll go and support it. It's like we did the. Um, the walk, I forgot the formal name, it used to be called the buddy walk, it was like the walk, it's for, for, uh, Down syndrome. Um, two members on my team have some, you know, one has a child, one has a brother that have down syndrome.
So we went out, and all had a booth there and just kind of said, we all walk together. And then, I donated X amount of money from the fund to support them. Indirectly coming to the events for us and helping. Yeah. Yeah. Because. I want them to feel connected to know that we're all there for them as well.
Kalli
I don't know if everyone can hear my dog barking.
David
No, your dog is like, that sounds like Jolene, actually, but she's downstairs.
Kalli
This is how, you know, we're actually live.
David
See, but that's people like that. It's real. You're a real person.
Kalli
Exactly.
David
Don't have to be perfect.
Kalli
Um, I even left a note on the front door. Hey, Amazon, please don't knock.
David
Yeah, no filming. Live podcast. And my dog will go berserk.
Kalli
Yup. Um, which now I've lost my train of thought, but…
David
uh, I was just mentioning about, like, letting your staff share, if they have any causes that are important to them, you know, finding a way for the team to be able to support, right?
Kalli
And right. Yeah. Something that everyone is passionate about. I think that's, um, Really great. Um, I think, yeah, all of this is really great. Uh, I think finding something that, um, you have a personal connection to, um, is like, how you win at this. Um, And also, yes, sorry, condolences. I know that your mother passed away this year, um, and I agree Alzheimer's is like a terrible disease, um, but I'm, I'm glad that you're comfortable sharing it because I think that's important and it's helped bring more people, uh, in as advocates.
Um, and in fact, there, uh, so David did the walk this weekend, and there is still time to donate. Um, and we have a link that we'll put up at the bottom if anyone watching would like to get more involved. Um, so thank you, David, for your time and, uh, sharing. Um, and to our guests.
Join us next month to talk about incorporating your client's life milestones in your marketing with Bento Engine. And thanks to everyone for joining. If you're not already, get savvy at the following link.
David
Thanks, Kalli.
Kalli
Thanks, David.
