Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner, speaker, and consultant Michael Kitsas, 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

493rd episode of the Financial Advisor's Success podcast. My guest on today's podcast is David

Moseca. David is the founder of Tomorrow, an RIA based in Red Bank, New Jersey,

that oversees $350 million in assets under management for 600 client households. What's unique

about David, though, is how he approaches financial planning from a cash flow perspective,

treating income as an asset to be distributed based on a client's goals. In this episode, we talk in depth about how David treats cash flow planning, not as a budgeting exercise, but rather as an opportunity to default clients into saving rather than spending, how David uses what he calls a cash flow reservoir to hold client income.

With a portion of the reservoir transferred to the client's checking account for spending, frequently leading to greater

savings than transferring extra cash from the checking account to savings or investment vehicles,

and how David's approach helps clients reduce their unconscious spending, such as on subscriptions

that they might not use often, and supercharge their savings.

We also talk about David's four-part financial positioning process, which includes

protection, growth, estate planning, and cash flow, and the milestones he wants to hit when meeting

with prospects, how David treats meetings with ongoing clients as a forward-looking calibration

process based on changes in their financial situation, and how David puts an emphasis on defense

in the planning process, digging

deep into clients' insurance policies to ensure their coverage is commensurate with the growing

wealth they achieve over time. And be certain to listen to the end, where David shares how he

created his own software solution to run his income under management cash flow planning system

and began to offer it to other advisors. Why David made the transition

to the RIA model after building a successful career within the insurance channel and how David

has ultimately found success by leaning into his unique talents to solve other people's challenges.

...