Episode 298 - Randall Stutman: Admired Leadership for Financial Decision-Making

Dr. Randall Stutman is an author, highly sought-after speaker, and executive leadership coach to some of the world's most exceptional CEOs, billionaires, and hedge fund managers. As the founder of the Admired Leadership Institute, he is widely recognized as a world-class authority on leadership strategy and style. Today, Dr. Stutman joins us to discuss the behaviours and skills that make admired leaders and how you can translate those characteristics and strategies into your financial decision-making process. Tuning in, you'll learn about the importance of followership, find out why admired leadership is so rare, and hear some practical advice to help you make better decisions. We also discuss why you should actually disagree with your clients more often, why relationships are the cornerstone of any business, questions to ask yourself to find the right client or financial advisor, and much more. Don't miss this fascinating and broad-reaching conversation on leadership and decision-making with specific applications for financial advice relationships! Key Points From This Episode: (0:03:36) A typical approach to leadership development (and why it doesn't work). (0:07:21) The two key qualities or characteristics of an admired leader. (0:09:23) Benefits of followership to create change and implement decisions. (0:10:28) A simple definition of leadership and why not everyone can be an admired leader. (0:13:08) Why great leaders and great organizations are values-driven. (0:16:15) Ways that consensus decision-making can hurt or strengthen an organization. (0:23:02) Other shortcomings in the decision-making process and how to avoid them. (0:27:29) Practical advice for financial advisors to become admired leaders. (0:32:33) Why checklists should never be the focus of a conversation or relationship. (0:33:52) Traits of admired leaders that financial consumers can emulate. (0:35:55) The best way for a couple to reach agreed-upon financial goals. (0:37:29) Tips for financial advisors to give better feedback and maintain relationships. (0:44:30) What a successful relationship with a financial advisor looks like. (0:46:07) How to avoid outcome bias for people who have been successful in the past. (0:48:00) Rapid-fire time management strategies, hallmarks of effective meetings, what's missing in virtual communication, what motivates people, and more. (0:55:46) A very important metric by which Dr. Stutman defines success. Links From Today's Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582 . Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://twitter.com/RationalRemind Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/ Benjamin on X — https://twitter.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on X — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Admired Leadership Institute — https://admiredleadership.com/ Episode 238: Prof. Ralph Keeney — https://rationalreminder.ca/podcast/238 Books From Today's Episode: Working Through Conflict: Strategies for Relationships, Groups, and Organizations — https://www.amazon.com/dp/0367461471/ Communication in Legal Advocacy (Studies in Communication Process) — https://www.amazon.com/dp/B09T21F8KX/