Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner,

speaker and consultant Michael Kitsis to hear stories of how leading financial advisors

navigated the inevitable challenges that arise on the path to success and get insight from leading

industry consultants about how to break through to the

next level in your advisory business. And now here's your host, Michael Kitsas. Welcome, everyone.

Welcome to the 382nd episode of the Financial Advisor Success Podcast. My guest in taste

podcast is Tyson Ray. Tyson's the CEO of Forum Wealth Advisors, a hybrid advisory firm based in Lake Geneva, Wisconsin,

that oversees approximately 900 million in assets and our management for just over 800 client households.

What's unique about Tyson, though, is how he has developed a planning process.

He calls their total relationship approach, which puts an emphasis on determining a client's near-term

lump sum spending needs, like a new car purchase or a big vacation, and ensuring the portfolio

is built around having sufficient cash available for these goals, which Tyson has found can

reduce the number of pan-phone calls that come during a market downturn.

When sometimes clients aren't really upset about their performance,

per se. They're just stressing over a near-term cash flow need that they don't want to liquidate

for when their portfolio was down. In this episode, we talk in depth about how Tyson's total

relationship approach leads to particularly close relationships with their clients, including

by developing a system to send what he calls wow factor gifts

to mark key moments in the lives of their firm's clients, their families, and even their pets.

Why Tyson breaks out the firm's AUM fee between portfolio management and ongoing client service

instead of presenting clients with a single unified bundled fee, and how Tyson's firm has grown through acquisitions,

including the hard lessons Tyson learned about conducting appropriate due diligence on potential

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