Check Out Bill Cates’ NEW Top Advisor Podcast™
Interviews with Top Advisors for Top Advisors!

Listen + Subscribe Now

Top Advisor Podcast™

Ep. #92 – Connecting Generations Through Financial Literacy with Jeff Panik, CFP®, MSFS, CRPS

 

  Show sponsor:

 

Holistic Advisor.  Whole Family Concept.  Financial/Life Coaching. 

Financial advisors at all levels are redefining what it means to truly serve their clients. And to stand out in a way that isn’t just cosmetic, but meaningful.

For many, it’s no longer just about managing investments or insurance for the individual or couple sitting across the desk – it’s about embracing a broader, family-centered approach.

Jeff Panik, principal of Balance Wealth Advisors and a recent guest on the Top Advisor Podcast, has become a strong advocate for this expanded model, sharing his insights and strategies for engaging both current clients and the next generation.

Advisors are increasingly recognizing that clients value when their advisor engages the entire family – especially children and heirs who will inevitably inherit assets.

As Panik points out, teaching financial literacy early helps young adults develop strong habits and savvy perspectives. For the parents, knowing their advisor cares about the financial well-being of the next generation builds deeper loyalty and engagement. Word spreads quickly when families feel genuinely cared for, often resulting in coveted referrals.

Panik highlights another crucial point: studies suggest that only  about 19% of inherited assets remain with the original advisor after a client passes away. Why? Because heirs simply don’t have a personal relationship with the advisor. By establishing meaningful connections with clients’ children or beneficiaries now, advisors can future proof their practice,  positioning themselves as the family’s trusted advisor for generations.

Want More Top Advisor Podcast Episodes? CLICK HERE!

Jeff Panik Discusses:

  • (01:25 )  Aging Client Books and Practice Valuation
    An aging book of clients may not be as attractive to a potential buyer of your practice than a book that is showing clients in a range of life stages that demonstrates huge growth potential.
  • (02:38)  Balancing Today and Tomorrow
    “With over 25 years of experience as a financial advisor, Jeff Panik helps his clients strike a balance between living well today and planning for the future.
  • (02:51)  Financial Literacy as a Path to Success:
    Jeff believes starting financial education early is essential for lifelong success. (This is how can continue working with the heirs when the time comes.)
  • (22:11)  Planning Ahead for Peace of Mind
    Making decisions early avoids later regret.
  • (24:17)  Humility & Relationship-Building in Finance
  • (25:33)  Mentorship And Advice For Newer Advisors.

…And more!

Suggested Action steps:

Consider incorporating family financial education by offering resources or workshops for clients’ children and heirs, strengthening client loyalty and retention.

Leverage educational content, such as books, videos, guides, and useful online tools, to position yourself both as a trusted advisor and as a resource beyond just investment advice.

Sponsors:

Connect With Jeff Panik:

Resources:

Connect With Bill Cates:

About Our Guest

With almost twenty-five years of experience as a financial advising professional, Jeffrey Panik, MSFS, CFP®, knows that his job is to help clients strike a balance between living well today and planning for the future. Throughout his career, Jeff has worked with hundreds of families, individuals, and small businesses to help them set goals, strategically manage their assets, and work toward achieving their dreams.

The first in his family to attend college, Jeff believes it is imperative to start the discussion of financial literacy early to best prepare for financial success throughout life. Jeff served in the US Army after college, which, as part of his service agreement, paid the student loans he had accrued. He was honorably discharged and began working as a Financial Advisor trainee at a large brokerage firm.

Though Jeff grew up in Southwestern Pennsylvania, he has lived in the Atlanta area for two decades. Jeff and his wife Rebecca currently live in Atlanta, Georgia. When he isn’t working, Jeff enjoys spending time with family, traveling, reading, and all types of sports.

Never Miss an Episode! 
Click below to subscribe on your favorite podcasting platform.
P.S. Don’t keep Top Advisor Podcast a secret … share with a friend or colleague!

Click Here to Subscribe Tell a Friend

About Your Host

Bill Cates, CSP, CPAE, works with established financial advisors to speed up their growth without increasing their marketing budget. Advisors tap into Bill’s proven process to multiply their best clients through introductions from advocates and Centers of Influence (such as CPAs and attorneys), communicate their value proposition more effectively, and create a reputation in a profitable target market. Bill helps advisors move from push prospecting to magnetic marketing – to attract more Right Fit Clients™.

Bill is the author of four best-selling books, Get More Referrals Now, Don’t Keep Me a Secret, Beyond Referrals, and Radical Relevance. Bill is a highly sought-after international speaker and coach, as well as the founder of The Cates Academy for Relationship Marketing™.

 

Do you know someone Bill should interview (including yourself)? 
Do you have a topic you’d like to see covered?  

Contact Bill Cates directly:  BillCates@ReferralCoach.com     


Referral Coach