In this conversation, Geoff Zimpfer and Todd Ballenger discuss the importance of business planning as they enter the new year, focusing on financial literacy and the role of Certified Liability Advisors (CLA) in the mortgage industry.

They explore the current transaction recession, compare the roles of realtors and financial advisors, and emphasize the need for loan officers to create their own markets and build relationships with financial advisors to thrive in a challenging environment.

Takeaways:

• Understanding the balance sheet is key to financial literacy.
• Homeownership significantly impacts long-term wealth accumulation.
• Loan officers must adapt to the current transaction recession.
• Realtors and financial advisors play different but complementary roles.
• Creating new referral models can enhance business opportunities.
• Building relationships with financial advisors is essential for loan officers.

Timestamps:

00:00 Introduction to the New Year and Business Planning

07:57 Understanding the Role of a Certified Liability Advisor (CLA)

16:11 Navigating the Transaction Recession: Realtors vs. Financial Advisors

24:04 Building Relationships with Financial Advisors

24:25 Building Relationships with Financial Advisors

28:58 Expanding Your Network: The Power of Referrals

30:51 Creating Value Through Conversations

34:15 Non-Correlated Referral Sources

38:59 Joining the Community for Continuous Learning

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