Welcome to the inaugural episode of The Unlock! Downtown Josh Brown and Michael Batnick are joined by Nick Murray to discuss the value proposition of a financial advisor, how Nick's book changed the field of financial advice, and what the future of financial planning might look like.

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►00:00 - Intro
►02:17 - When did you know that there were so many advisors out there in America who needed help making their value proposition clear to clients?
►07:44 - How did Josh and Mike discover Nick Murray
►11:18 - Given the current popularity of fee-based advice, index fund investing and behavioral finance, would it be safe to say that the Nick Murray gospel has now become completely mainstream among professionals and their clients?
►14:16 - If you had to use a few adjectives or descriptive phrases, what would you say are the key characteristics of a great financial advisor? What should we strive for and what should the investing public look for when hiring an advisor?
►18:57 - I don’t hear you talk a lot about wealth technology and the various software platforms and programs advisors use. Is that because you aren’t particularly excited or interested in that aspect of advice or because you don’t necessarily see that as your lane?
►22:2 - In your public speaking career, you have always been incredibly selective about which events you’ll speak at and under what circumstances you’ll appear on stage. This is only the third podcast episode you’ve ever appeared on and you don’t give away any content for free on the internet. Can you tell us about why this selectivity and exclusivity is so important to you?
►28.34 - When I talk to advisors about the books that have changed their lives and careers, the one that consistently comes up as much as anything written by Bogle or Buffett is ‘Simple Wealth, Inevitable Wealth’. When I read it in 2010, it certainly changed my life. What do you think has made this book so special to so many generations of advisors around the country?
►32:31 - You’re coming out with a newly revised edition of Simple Wealth over the summer. Can you tell us what has changed since the most recent edition and what your fans or new readers should expect?
►36:09 - What do you tell advisors now in a time of bond yields approaching (or exceeding) the typical stock market average annual return in the high single-digits? Does the current level of “risk-free” interest rates impact your thinking at all?
►38:58 - As new technologies have emerged in previous eras, they’ve always been accompanied by fears of job loss and professional obsolescence. Of course, in the fullness of time, we’ve seen these technologies become job creators more than they’ve become job displacers. For many people, however, the AI revolution seems different. It feels like professionals in every industry (advisors included) are more nervous about this technology’s potential than they’ve ever been before. Can you give us your perspective?
►44:02 -Thousands of financial advisors are listening and watching this show, including many who have not yet heard of you or haven’t read your books yet. What do you want to say to them? What do you think the industry needs to hear right now?


Participants include employees of Ritholtz Wealth Management. All opinions expressed by them are solely their own opinions and do not reflect the opinion of Ritholtz Wealth Management. This program is for informational purposes only and is not intended to provide specific advice or recommendations for any individual or on any specific security or product. Any opinions expressed herein do not constitute or imply endorsement, sponsorship, or recommendation by Ritholtz Wealth Management or its employees. Ritholtz Wealth Management and its affiliates may invest in the technology company discussed.

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