Craig Wright is a financial advisor with Certified Financial Planner (CFP) and Chartered Financial Consultant (ChFC) designations. He served as the NAIFA Missouri president and is a founding partner of a financial services firm with over 15 years of experience offering fee‑based financial and insurance planning to individuals, families, and small businesses. Craig holds a MBA from Southwest Baptist University.
Finding success in financial services takes more than numbers and strategy — it requires purpose. How do top advisors balance client needs, leadership responsibilities, and community impact to build a practice that truly matters?
According to Craig Wright, a seasoned financial advisor and advocate for servant leadership, purpose-driven success comes from giving freely to others while maintaining focus on clients’ financial well-being. He highlights that engaging in leadership roles and mentorship opportunities not only strengthens the profession but also sharpens skills like time management and delegation. By combining risk management, investment strategies, and a commitment to developing future leaders, he has created a practice that thrives on relationships and community impact. Craig emphasizes that approaching business with service first leads to lasting client trust and professional fulfillment.
In this episode of the Advisor Today podcast, Chris Gandy and Zack Huels sit down with financial advisor Craig Wright to discuss building a purpose-driven financial practice. They explore how leadership and mentorship fuel professional growth, why balancing risk and investment strategies benefits clients, and how AI tools can increase efficiency without losing the human touch. Craig also shares his proudest client success story and advice for future leaders in the industry.
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This episode is brought to you by the National Association of Insurance and Financial Advisors, or NAIFA, the #1 association for producers in financial services.
At NAIFA, we enhance professional skills, promote ethical conduct, and advocate for legislative and regulatory environments.
By joining NAIFA, you gain access to a partnership that elevates your performance while providing greater purpose to your professional work. NAIFA members are happier, make more money, and stay in the business longer.
Get in touch with NAIFA and learn more about how to join NAIFA by visiting NAIFA.org.
Intro 00:02
Welcome to NAIFA’s Advisor Today podcast series, where we focus on how financial advisers work, live and give to their local communities and our greater financial services industry. Now let's get started with the show.
Chris Gandy 00:20
NAIFA Nation, welcome back to Advisor Today, the podcast. I'm here with my co-host today. We got sitting in the chair behind the scenes but also on camera today the Zack Huels. Zack, how are you?
Zack Huels 00:35
Chris Gandy I'm doing well, man.
Chris Gandy 00:37
You look, you look good, man. You got a pocket square today. You got a dress for success? Yeah.
Zack Huels 00:42
You're always getting on me about that. You know, you're right. I just forget to put it in there.
Chris Gandy 00:46
You know, Zack is one of those people that you learn to love. And over time, I've. I've dressed them a little bit, you know, here and there we've been at conferences and I'm like, hey, take my pocket square, man. Let me put that in there. You look now.
You look super fly. You know you got a swag there.
Zack Huels 01:04
But so last piece I know I just got to get that in there.
Chris Gandy 01:08
So welcome into Advisor Today podcast. As we mentioned numerous times before, if you listen to our podcast past episodes, the idea of giving back to the industry, RNA for membership, the opportunity to hear from some of the brightest and greatest minds out there amongst volunteers, industry leaders, companies, associations and really what's happening in the marketplace today. But before we go to our guest today, Zack Huels, tell us a little bit about sponsoring this wonderful program.
Zack Huels 01:43
Absolutely. So I'd like to just give a shout out to our National Leadership Conference. Our National Leadership Conference is where we come together annually to have our business meeting, to meet together, to share strategies for the coming year and how leaders can meet network face to face, share challenges that they have in their own chapters, and grow and talk about the growing membership that we have within NAIFA. We're doing that in Virginia, in Arlington, Virginia. October 14th this year.
And it's just going to be a great program. So if you're a naval leader out there and you're not going to the National Leadership Conference, I urge you to reconsider and to go. You can reach out to us at info at org for more information, or you can reach out to me at zhuels@naifa.org for more information on that event. Chris, back to you.
Chris Gandy 02:27
You know, Zack, the NLC, like other three letter organizations, three letter wonderful programs like the NBA, NHL, the NFL. Right. There's other organizations where they come together for brilliance, expertise and opportunity. And not that we're the NFL or NBA, but we're coming together for members to learn, develop, uplift and grow together so that we can have continuity within our leadership across the country and also nationally. So we look forward to seeing you soon.
And at the NLC, not the NBA, not the NHL, but the NLC. If you haven't booked your tickets now, book your tickets. Come. We can't wait to see you there. With that being said, Zack Hulls, can you introduce our wonderful guest for today's?
Zack Huels 03:20
I absolutely would be honored to. So Craig Wright is from Strategic Financial, a financial advisor based out in Springfield, Missouri. He was the FFA president for two years, I believe it was 2023 and 2024. He has worked on committees within FFA nationally as well as locally and state level as well. Craig is in just a great advocate for FFA and for what he does in the industry.
He's going to tell you a lot more about himself as well. But as a qualifying member of the Million Dollar Round Table, the Quality award and a five star wealth manager. We are excited to have him here today. Craig, welcome. Welcome to the podcast.
Craig Wright 04:00
Thanks, Zack. Thanks, Chris. Happy to be here. Looking forward to talking with you both.
Chris Gandy 04:05
Craig, it's good to see you. Before we came on we were chopping it up a little bit about from Springfield, Missouri. That's the area you kind of reside in. And I mentioned the fact that, if I'm not mistaken, Illinois University of Illinois, my alma mater plays where you are at the University of Missouri. And it's this big, big thing.
I mean, I think somewhere between 40 and 50,000 people come to Saint Louis. It's kind of the meeting place for a wonderful game. And I believe Illinois won last year. I want to say. So we got a little bit on you there, but let's talk a little bit about how'd you land in Springfield, Missouri.
I mean, that's a unique place.
Craig Wright 04:49
Yeah. So been born and raised here in Springfield. And so it's the southwest portion of Missouri. Beautiful part of the country. Encourage people to come visit.
And if you like the outdoors, you like to golf, you like lakes, rivers, all that type of stuff. It's a it's definitely a great place to be. And so I've been here my whole life, went to school up north of here just a little ways, and Southwest Baptist University for my undergrad and graduate work. And whenever I got in the business, it only made sense to be back where I grew up. And and to do that here.
So that's how Springfield came into play, is when your family is from here and your wife's family's from here as well. You kind of stay for it. And it's a good place to raise a family. Good, good place to be in business.
Chris Gandy 05:40
So Craig, talk to us a little bit about so you served Zack mentioned the fact that you helped lead a wonderful board over there in Missouri. You stepped up and raised your hand and was president for a period of time. So tell us what one what did you learn during that process? Because being a leader on a local board and being a part of advocacy at that level is a little bit different.
Craig Wright 06:10
It is. Yeah. So I mean, I've been involved in FFA for probably ten, 11, 12 years now, and it's one of those things that started off getting involved with the local side of things and got to know other people in the business. And I've always believed as an independent guy myself, that none of us out there are competitors. We are in there to support each other.
There is enough business to go around. So many people need our help that we are never competitors, even if we're across the street from each other for it. But we can learn from each other and we can help others out. And that's really the principle of NAIFA as well. And so getting the opportunity to meet people here locally, and then after a while, some people said, hey, what do you think about serving on the board here?
And and so then, you know, that's what happens, right? You, you raise your hand once and, and you maybe try and do a couple of good things and, and to best of your ability and you get asked again and and so then eventually probably I don't know maybe it was like 2020 or so 2019 was asked, hey, what about being on the state board? And so I said, sure, right. I didn't really know what that meant or what it looked like, but I knew what NAIFA was about. I knew the opportunities it would provide to give back to the profession that I love and what I do and what I will do the rest of my career.
And so that's really how I kind of stepped in. And so it's given me a lot of opportunities to learn. When you serve on a volunteer board with other volunteers, you learn quickly how how to better manage your time as, as you know very well, Chris, and stepping up into even larger role that if you want to run a successful practice of your own, but then also be involved in other things, you've got to be able to delegate within each of those organizations, including your own practice. Right? And so I've been able to learn that better because delegation is not my strong suit.
I don't know about you guys, but I like to control things a little bit. And so learning how to delegate within my practice, but also then delegate within the leadership at the state level on the board too, of helping to grow other leaders along there. So biggest thing I've learned has been to better time manage in getting things done and and really to then help support the others in those leadership roles. And. All right, this is your task.
This is your role. Let's get it done to the best of our abilities, knowing that we're doing this for the common vision of our profession, because we don't make any more money to do it. No one's paying us to do it. It is about helping others, making sure that our profession stays relevant, stays active, helping the American people to do better financially. Because for most people, the thing they care the most about is either their money, their family, or their faith.
And so we can definitely help with at least two of those three things for them to help better their lives. And so that's why I've stepped up and done it, and it's led to other opportunities as well. By being willing to serve and doing things too.
Zack Huels 09:53
And not just step up and do it once, but you, you went around the sun again as president. So that's pretty it's pretty impressive son.
Craig Wright 10:01
And currently I'm in the past president role as Zack knows as well. So in just a few months left in that role and we've unfortunately in Missouri we had to some recent tragedy this year with another member. And so I had to step in to doing some membership roles as well to lead the membership committee. So we're really trying to revive our Missouri membership and come up with a nice, coordinated process and effort with National as to what we're doing for new and and existing members to appreciate their their opportunity to to be a member because no one But at least on the independent side, no one's forcing you to be a member. We're making the choice every year or every month to pay the dues for that.
And so what that provides and benefits back and opportunities and resources is, in my opinion, well worth the cost. And that's why I've paid my dues every year for the last decade plus.
Chris Gandy 11:04
So. So Craig, a couple things there. You and I have something in common. We may be brothers, man. So I served Chicagoland, a local here.
I didn't serve the state, but I served, you know, as an ad hoc, ad hoc leader there. But I served Chicago for two years, right? During Covid. During Covid one year. And then coming out of Covid for I was in know before Covid and then the year in Covid, first year in Covid.
So you know, you had to think differently, right? You had to, you know, people weren't coming to meetings and, you know, you were having golf outings and fundraising. You weren't doing that. You know, LILI, class in person, like you had to do some things a little bit different. And at that time we didn't know if we won, you know, the industry, what it was going to look like when it was all said and done.
And so it had to, you know, evolve over that period of time. So thank you for your leadership. But how do you get others to step up? I mean, you served two years and you had to look around and be like, man, I need some other people around me. You can't do it by yourself.
So how do you get other people to step up and to engage in, in being a part, get off the sidelines and be a part of leadership? I mean, you got some tools, techniques? What? I mean, what are you using?
Craig Wright 12:25
Yeah, I mean, I think one of the things that one of the tools that nature provides to really help with that is the LILI class, the Leadership of Life Institute. And so if I recall, right, I did that in 2019. It could have been 2018 somewhere around there. That how that involvement happened was really just by being active in the local and what now would be considered the affiliate side of things. And someone saying, hey, hey, Craig, you should think about doing this.
And so did it. Right. And so I think leadership and opportunities come both in our business and what we do. It's belly to belly still even when we're virtual. We still have to have the opportunities to to shake hands to, you know, the old school way or rubbing elbows, those type of things.
Getting around other people. And so same thing in this field. When you get around the other people in your areas, you see the expertise that comes by being a financial professional, the oftentimes the high intellect as well. And so then you see people that are successful in running their own businesses and say, hey, you know, you can provide some help for others. And so when we aren't around others in the business, you're not going to get anyone else to step up and to fulfill it.
And so we've got to have those times where we see those others. So whether it's at National Leadership Conference or whether it's at, you know, local meetings or going out to Topgolf or whatever it may be at your state meeting, getting to see the other people, to interact with them, to share a meal, getting to know more about them and going, okay, this is the type of person that could do very well in a leadership role. Maybe they're the more outgoing person, so maybe it's that membership side. Maybe they're more like the political advocacy. So the government relations side of things, there's a lot of people that when we get to know them and have those interactions, then we can find those areas that they can do well and that they are passionate about as well.
Because if someone wants nothing to do with advocacy, they shouldn't be doing government relations work, you know? But at the same time, get even if they want us to do advocacy, you know, doing our congressional conference, it can really flip that for them and seeing the role that that can have too. So I don't know that there's really a secret sauce, Chris. I think it's really just as a leader, you've got to get to know the other people around and you have to encourage the other the other leaders on your board and on your team to be having those recommendations and write, hey, this is a type of person we really ought to be investing in and helping them grow. And LILI is a great way to do that.
And then pivoting from there to having them self-serve? I mean, that's in Missouri. We've got a couple new board members set aside for next year that are recent graduates that looking at putting them, whether they're an affiliate chair or doing something more, a little bit higher level on the executive board or something like that as well.
Chris Gandy 15:51
Well, you mentioned Craig, you know, a little bit of, of, of a path, right. And so for a long time, as I've kind of observed just throughout talking with our, you know, NAIFA advocates and people around the country is people are who they are and they kind of land where they land when they're asked or they're kind of told or whatever it may be. But there's no clear path to success, right? And you and I are in the business where you know. And guess what?
Then you want to go to the table, then you want to go top of the table like there's a path to do that, right? You know the Hundred Lives Club. Like when you first start off, you do 100 lives. Your opportunity to be in this business goes up dramatically. Like there's there's kind of a path like you do this, then you do this, then you do this, do this.
If you think about our path and what is the path to success, we understand that there's no such thing as 100%. Right. But but if we can build a path for people, that will give them the best opportunity to help lead and for them to discover who they are during the process, I think that gives us the opportunity to really enhance kind of the sticktuitiveness or the, you know, as a Delvin Joyce word, right, or the shout out to Delvin. Right, or that we allow for them to feel equipped and ready whether they step up or not, right equipped and ready for them to be able to excel once they are actually in the seat. I am a strong believer to this day and day, and I will.
I will be a believer that I believe everybody who serves in the president's role in a state, in any type of leadership role, as it deals on the national level, should go through. LILI. I'm a big believer in that because at the end of the day, if that's part of our culture, our DNA, I just think of Duke basketball, right. And Duke basketball. Unless you go through the five pillars of what coach K understands, you know, demand success, you can't put on a Duke jersey.
You can't walk out there and play. It's not how it works. Right. That's that's the deal. Right?
You know, so doesn't mean you can't go through the chairs and then go all the way through the chairs, but you can't sit in that chair right until you've gone through. And that just becomes part of the commitment. Right. The path to that. Right.
And then once you, you know, like, say I go through LILI. What's next? Right. Because we're all mountain climbers here, right? You know, we were the campers or climbers?
So we're climbers. So what's next? You know, the path to lake or path to RSV, like so that path should be laid out. So it makes sense. What are your thoughts around that? Craig.
Craig Wright 18:38
Oh, I agree with you, Chris. I mean that's having so some people really are geared toward some of those leadership things. Other people, you've got to find it within. Right. So some people are quick to raise their hand and go, yeah, me, me, me for it.
Others it's got to be that person saying, hey, I believe this could be a good thing for you. And seeing something in themselves that they maybe don't see. And I think that's one of the beauties of our profession. Whether you're on the insurance side, the investment side, you do both your home office, your wholesaler, whatever. It doesn't matter, you know, like there are great opportunities for growth Both.
And you know, I really enjoyed my time in LILI. Had a great class as well, similar to you. And and it was really kind of post that of going, okay, you know, why don't you know I'm yeah I'm happy. I believe in the organization. I'm happy to if someone thinks I've got something that I can help better the organization with, sure.
Let's do it, you know, and I'll give what I can there. But I've, I've always believed that the people who do the best in life are the ones who give to others freely. And so I've been the recipient of that from many, many people in our profession. And so if I've got something that I can share, I'm happy to do it. I know I'm not the smartest.
I'm not the brightest, I'm not the best. But, you know, obviously there's been some success. So being able to then share that with others. And I always tell people, you know, hey, if I can do it, little old me coming from Springfield, Missouri, you know, like, that's. It's not like I came from all this great successful background.
It's. I started with zero clients. And over time, that's built up to be a great opportunity and helping a lot of people to do better than what they would have. They never talked to me before.
Chris Gandy 20:52
What a great perspective. What a great perspective. So getting leaders — super important. So let's geek out on LILI for a moment. We're all LILI grads here.
So Zack, what was your favorite part of LILI? Like I put Zack on the scene.
Zack Huels 21:05
Like my favorite part. Well, I mean.
Chris Gandy 21:08
Just what.
Zack Huels 21:09
Yeah, I know, I'm just trying to think. I mean, there's it's really good. I mean, I just feel spoiled by the class we had. I feel like even though it was one of the virtual online classes, I just think our group was so solid And sure, maybe it's the fact that I got such great connections with you and Scott Dorminy and but I just think it was really cool to to even have that environment to do it.
Chris Gandy 21:33
Okay, great. Craig, what was your big takeaway from just one? I know there's just one.
Craig Wright 21:39
I mean, that.
Chris Gandy 21:39
Or your most memorable moments there?
Craig Wright 21:41
I mean, yeah, I mean mine was pre-COVID. So things were a little bit different then. But still being in a room with I think there were maybe six in our class of people of various levels of success we had. I think there was one person who was a few months in the business and someone who was making seven figures in the business, but we were all willing to share and willing to help each other. You know, one was in more of a captive role and was more independent.
There was someone that was more PNC focused some that were more, you know, traditional insurance sales focused whatever. Right. It didn't matter. It's hey, I can still learn from you. And so I think it's that collaborative environment that reinforces the idea that, you know, none of us are competitors.
There's enough business to go around. Let's help each other for the betterment of our own clients for it. That's probably the biggest takeaway and reinforcing that idea of, hey, you may do things different and that's okay. There's still something that you can teach me and hopefully I can teach you something as well.
Chris Gandy 22:55
Right? Right, right, right. My biggest takeaway, if you guys were asking in an indirect way, was probably the. The eulogizing of yourself that, you know, the ability to. And it's not the actual eulogy itself, it's the peeling back the layers and allowing for us to be vulnerable enough in front of others who may we may see as peers or whatnot to be that in and be comfortable and sit in that fire.
Right. That's a real tough thing, especially for like you said, Craig Strong. Like, hey, I want to do a certain way. Like, hey, you know, like, hey, I want you guys to see me a certain way. It's very difficult.
It was very difficult to do that. But it was also the most probably rewarding thing because it allowed for me to take a step outside of what I do and get back to who I am and why I do what I do and connect the two. Right. And so they talk about getting out of the head and getting in the heart and understanding the importance of doing that on a day to day basis. And it definitely allowed for us to it created an environment.
And I had two really good, good. We had like kind of two good teachers there. Who, who? I don't know, are they opposite Zack? I don't say.
Chris Gandy 24:26
They're pretty opposite. They're pretty polar opposite.
Zack Huels 24:29
They both have a lot of energy, but it's different. It comes from different places for sure.
Chris Gandy 24:32
They're kind of polar opposites. But it was a good, good environment for that. So that's what I got. Then no experience LILI.
Craig Wright 24:41
I was gonna say, do you have an easy time peeling back the layers of the onion of yourself in front of others, or was that a challenge for that piece of it?
Chris Gandy 24:49
It was the hardest thing to do, man. You know, because it's the hardest thing to do because I'm like, man, I don't know. Because again, you're doing it in front of, let's call it acquaintances, somewhat strangers, you know what I mean? You're not doing it. You're not doing it in front of loved ones, right?
You're not doing it in front of your spouse or your kids. You're not doing it there. You're doing it in a space where you just hope that they're going to hold space to. Accept what it is as, as a human, as a person, as someone who's in this. Experiencing this situation at this time.
Right. And so you don't know. But like you, someone who loves to control things. And I gotta things have to be a certain way. Da da da da da da da.
The uncertainty of it and discovering that space and being comfortable, just being uncertain and feeling through that was, was is just tough, man. That's that's that's that's tough. I mean I at the moment I started the, the that part of it I just started tearing up. I was like, oh here we go. Like I was because I read it five, six times right before that.
Right. And so I'm like, all right, I'm gonna just whiz through this. Let's go. Right. You know, no problem.
And the moment I started right there, like, okay, tell us who's saying this. And I'm like, well, this is my son. And he's standing up there saying how proud he is of his dad. And then the moment I started bro, just waterworks man. It just can't — I couldn't stop it.
And I was just like just let it go. Like, let it be what it is. So I got a chance to — I don't know if Zack was actually even there that time.
Zack Huels 26:35
I was, I saw it, I was there for.
Chris Gandy 26:38
It just allowed for people to see that I'm a little different than I may portray at times.
Zack Huels 26:44
Yeah, I'm an open book to a fault. I feel like I'm always sharing too much information, but it's usually when people ask. More than anything, I feel like I keep quiet until someone says something.
Chris Gandy 26:56
Yeah, so very good. So. So, Craig, let's shift gears, shall we? Talk to us a little bit about your practice. You mentioned that you were.
Well, you could tell NAIFA Nation. So did you start off on the risk management, the insurance side PNC like where did you start? And then how did you end up getting kind of down the path of where your practice is today? Yeah.
Craig Wright 27:19
So the somewhat brief story on that, putting 16 years into a couple minutes on a podcast here, but started in the business with a independent career insurance based broker dealer and so grew up on the side of things of comprehensive planning, a balance between risk and the protection side of things through it all. And so I've had had a lot of training on that, and I fully believe in that as well, that there is a balance for all people to have between the risk products and the protection products utilized a lot of great philosophies and the academic research that's been coming out over the years about the balance that happens for for clients when they have US stock market assets, coupled with the protection of life insurance, disability insurance, annuities and creating that proper balance there. So that's always been part of who I am, how I've how I do things. But back in the mid 20 tens, seeing the writing on the wall, eventually, with the potential move to a fiduciary standard of some level, I started going into the fee based side of things for the asset management, and that was a tough transition. As I go, man, my business is growing, but my income is not that first year.
And then the next year you go, oh, my business is growing and my income is growing to now. It finally caught up because a lot of things that would have been on the commission side of the securities were going to the fee side. And so even though I was growing my AUM, when you're getting paid quarterly, it doesn't translate for a while. So it took a while to see that. And so then eventually as saw the value of that to the clients in my perspective as well, being able to have as low a cost on the investment side for them to reduce those costs there once and then dropped my Thunder licenses and went to Ria only just a couple years ago as well.
And that's been a great move there. Still believe and still utilize and and have active contracts with a number of different insurance companies for annuities life die and still fully utilize those products as well in my practice and fully believe you know that the the recent updates in the Ernst and Young Report write that just came out of how clients have a much higher probability of success with higher income and higher legacies. When you have risk assets plus the protection assets. So that couples what Wade file says, what Dave McKnight says, what Bob Castellone was saying back 40 years ago as well. When you have all those things together, the clients win.
So that's that's how my practice looks now is I'm Aria on the investment side of things and independent insurance on the other side, and enjoy that balance form for my practice to have where I can find the find the right carrier for the product, for the client as well, and not have to feel beholden to anyone from there. So that's what works for me. But I always tell people, hey, find what works for you and do that. This business is big enough. That and the opportunities are great.
Whatever your channel is. So just because my way works for me doesn't mean it has to work for you. You can still do the best thing for your clients, and we'd be structured in different paths and that is okay. So it's not. I always tell I've had opportunities to visit with a lot of students here in our local university, and I got to share to the Financial Planning Association just a few months ago there that, hey, you know this there's different ways you can be in this.
There's different channels. None of them are perfect. But you got to find what is best for how you want to do business, how you want to impact people and get on that channel and stay on that channel as best you can for it. And so for me, the channel I'm on now is what fits my personality, how I run my practice the best and took a while to get there, but now that I'm there, I'm very happy with it. I really like the flexibility that it gives me to do how I do business.
So that's how I got to where I am today and, and really enjoy having that freedom and flexibility. I love being my own boss. I've always been that way, and that's very helpful for how I, how I structure my business to, you know, just a couple days ago took took the day off and went with my family and good advisor friend of mine who's in a different company and, and we had our families down at our lake place, and we're on the water all day and enjoying life. You know, it's like that's great. And then now today back at it, got several meetings lined up this week and continuing doing business as well.
Chris Gandy 32:56
So I didn't want to talk on mute. I saw I muted me again I don't understand. Like this. So let's talk about AI. Shall we talk to us a little bit about how are you either using AI in your practice now or what are your thoughts on the use of AI in the financial service business.
And I ask you that just to get a perspective from you. From you.
Craig Wright 33:24
So actually within our area we there were 10 or 12 of us that we did some specific AI training with a company that we paid to teach us how to better use AI. And obviously we've come up with our AI policy. So obviously whatever I say, if you know, if you're in this business, you have to go with what your compliance allows you to do anyway. That kind of goes without saying, but for what I do, I. I am not an early adopter.
I am a privacy freak for myself. So I don't like to just share publicly. I don't post a lot on social media. My personal life, that's just not me. And that's okay.
That's just how I'm wired. But then. So I'm very careful with how I use I, but I use it in helping to compliantly structure emails to clients, you know, so I'm keeping the client's name out of it, the client's details out of it, getting better ideas for how to wordsmith things, doing presentations. I'm in the couple of weeks, going to be filming several videos for social media for our website as well. So I've had I help me script things and come up with ideas of what our top ideas that this type of client is looking for information on the web.
And so thus I want to be able to have that. And what do prospects want to know about their advisor. Right. So letting AI help me brainstorm? I think is great.
I do not use it in portfolio construction. I'm not convinced that it's there for that side of it. I do think a lot of the CRMs are coming out with a lot of the AI side of things. That will be interesting. In fact, one of my top clients was meeting with him, and he's got a he's got a technology company, and essentially they're launching a AI based CRM tool that would be all housed within itself.
So they can help with compliance side of things to then be able to data mine the client base to help predict and provide positive outcomes going forward from there. So it's like this, this is stuff that's coming down the pipeline, but I think we've got to be very careful with it in how we do it. So that's kind of my approach right now, but it's evolving. So. Yeah.
Chris, what are you doing with it?
Chris Gandy 35:58
So? So it's interesting. We don't use it yet. I'll use it for some communication of my staff or stuff like that, but. We haven't used it as a process in-house at all.
We have asked it for to give us a couple Morningstar ratings against. Actually, you know, we have I'd say a couple of my interns are using it to, to give me a couple Morningstar ratings and give me what are the crossovers between these two funds or something like that. Right. Obviously, it's still not helping us pick the two funds or funds that we've already used. Right?
I'm just looking for what the crossover really looks like inside of that. That might take them an analyst possibly 20 years or a year to find or six months, you know what I mean? Like things like that. But if you look at the way, well, let's talk about the future of it, right? I think the future could look like.
I never see it as taking the place of us, just enhancing the things that we can do. Like, I do think if I could, you know, what? Like if I was in the car today and I said, hey, I, you know, tell me what the pre markets look like prior to open, right. I mean obviously it can tell me a lot faster than me going and looking it up right. You know what are the pre-markets look like midday.
Hey tell me what's going on midday. And any new report you know any corporate reports that are coming out today. I need to be aware of, you know, I mean, like things like that where it would just take time to research it and research what's coming out, things like that. But I have not yet found and I've listened to a bunch of different things, and that's the reason why I asked. I've listened to a bunch of different things of guys basically saying they're going all AI driven practices, stuff like what it's like, you know, to the point where it's like, we're going to do the fact finder or our initial meeting, drop it into, I have it, make recommendations and then basically articulate those recommendations to our class.
Saves us all the time. And I'm like, I'm thinking to myself. As human beings. So let me just rewind the tape. I was having a conversation with a good friend of mine the other day, and I said, do you know that?
Do you know the phone number for your kids? Three kids, I said. Do you know their phone numbers? Their response was like, nope. And I started thinking about that.
I said. You know, remember when you were growing up? I still remember my first self. I remember the phone number (217) 638-2422. I remember the phone number right.
And so we were conditioned to use them in certain ways. But if we stop using them in those ways, just like any other skill set, we will stop being able to use. It will be a foreign language. We have to go back and relearn it. So just so I stay abreast on what's going on, I'm still using long math on paper, right?
Versus pulling out the computer. Our young interns, they'll just pull out their cell phone. I'm like, no, no, not in here. Right. You know, pull out and then tell me the numbers.
Like what percentage and what percentage, what number is that goes in what. Right. Because again, they're so used to just doing that I think I think some of the things it does for us as human beings, it creates laziness and it allows for us to think, how allows for it to think for us. And as the human brain Einstein said it the best. The human brain is the fastest computer on the planet ever created.
We just we only use 5% of it. And so if we think about that, it's like, yeah, do we really want to be subject to what? To forget? I'm gonna call it forgetting how to do certain things. Right.
But I don't — I'm not sure. The future of AI in my practice. My firm will exist more than just giving us data. The way it's built for us right now. I mean, I don't see it.
Now, I can be 100% wrong, don't get me wrong, but I see it as that. Like giving us updates, giving us data, blah blah blah. So then we as humans can make some decisions based on what's in the best interest of our clients. I see that route going for AI. What do you see it going for you, Craig?
Craig Wright 40:47
Man, I see a similar path. Just because my clientele. It expects certain things of me, you know. And so they want the human touch, you know, that's the opportunity to digest and analyze data.
It's at a very quick manner, is a great use of AI that instead of me spending time reading a 40-page report that has just numbers after numbers and being able to digest that and provide a better summary, or like you said, you know, like the letting I tell you what's what's the market summary, you know, for the day, what's the the big headlines coming in to just digest that broad data within it. And so but I think it's going to look a lot different. As it evolves. And I think fortunately for me, there's enough subset of people that want that human interaction that there's no danger to my job with it because the number of things that I can get wrong, when you start asking it for advice or has different things in it. So that's where I see my practice.
Utilizing it better is client communication, digesting the data, doing some background research that I was using Google to do. All right. You know, get gathering the research. Well then it's hey let's then confine it here. So I've done as far as within ChatGPT creating my own persona to then think like me.
So giving it the background research of here's this report of what I believe, here's this academic white paper, here's this, this, this, you know, here's my background. So trying to let a think like me and letting it see what happens from there. So that's been an interesting but that's still an early adoption. We finished that training in April or maybe early May. So, you know, I'm only here we are in July.
I'm only a couple months after having some heavy training on how to do some of those things that, you know, it hasn't changed my practice dramatically. It's been more, oh, I didn't know that's how to do it. And I was getting frustrated with how a non-techie person was trying to figure out AI, and now I know how to do it. So then I'm not frustrated. I can get it to do what I want it to do fast, instead of being where I gave it a task and it didn't do it, and I wasted.
I mean, in our training, we had a goal right here. You've got to get it to do this task, whatever the task was. And I spent a full business day trying to get it to do something simple. But then I found out, well, that's not the way you do it. And so then fix that by then, learning we got the next step of the training.
I learned how to then properly make it do. And I did it like that, you know, instead of it being the other way. So I think it's good to learn how to use AI better as a financial professional. And then obviously to kind of what your compliance department is gonna allow you to do, working within those lanes to make it happen. And I think that's going to evolve dramatically in the next year and two years as well.
Zack Huels 44:32
You know, you mentioned how your clients expect a certain thing of you or certain things of you. And this is kind of for both of you, I imagine. So if I improves efficiencies and sort of removes inefficiencies by nature, do you think that would increase the amount of face to face that you have with your clients? Because the efficiencies in your business might be, you know, improving and increasing and so that you would have more time for that face to face with clients, for their questions, for their their, you know, sync ups, their meetings with you, with you both. Do you think that that's something that you could see happening as things get better and better with AI?
Craig Wright 45:14
But I think so. I think it means I can expand the number of clients I serve, and thus that increases profitability as well, because by taking away some of the menial tasks that I can't pass on to an assistant that need my analysis, that the assistant level doesn't have that opportunity. But if that can, then instead of spending, let's say I spend two hours a week on that. Now, if that's 20 minutes, well, that's one and a half more clients that I can see, right? Because I used a fraction of the time to do that.
So then I can expand my practice and add more clientele within there rather than start to serve some of my clients in a lesser capacity because I added more clients for there. So it can help solve some of that staffing conundrum as well of how many people do you staff do you hire junior advisors, para planners? How many support staff do you have? And not necessarily to replace them, but to then expand what they can do that only a person can do, right then if you can free up some of their time that they're doing the menial things, then they can expand that higher touch, higher service. Oh, so your thoughts on that?
Chris Gandy 46:41
Yeah, I think I think the whole idea is similar to what you said is and I like to use real life situations as I described my clients. And it's like baking a cake. And if we don't follow the instructions, then we don't know if it's going to come out of cake. But if we follow the instructions on the back of Duncan Hines, it's more likely to come out like a cake. Problem with AI is there are no instructions to it, right?
And so I think when someone has good instruction like yourself and you're like, here, here's best practices, right? I think sharing it is powerful because it allows for us to learn faster, right? I have to learn from my own experience to know. I know it's hard. If you learn from the oven and know it's hot, then share with me those things, right?
Why? Because the more knowledge we have, the more power we have. The more power we have. The more we can control it, the more we control it, the more we can actually get it to do what we want it to do. So the idea that it's called open AI is we need to close the openness.
It needs to have certain hours of the day in which the shop is open. Right. It's open between eight closes at night. Right. You know, we need to have some parameters around it to use it.
You are right staff-wise. It's not going to replace staff. I don't believe, but I do believe that there are some things that staff does. That's, that's, that's that's nominal in nature. But it still needs to be done because compliance tells us to do so.
I mean, does that make sense? Right. So I think as we continue to move forward and talk about AI with insurance and investments, I think it's ever evolving. But again, it's open. Right?
And so I think it's, you know, it's a great exploration in conversation. And, you know, I look forward to hearing your advancements on it and kind of seeing how it's working for you. So then if it's not working or it's out of control, you know, I'd be like, hey, Greg, tell me, tell me how to get this thing back in control, right? Yeah. Tell me it's out of control.
And listen, we're gonna we're going to take you to the lightning round quickly here. But, Matt, I'm. We're going to show our age here for a second. Greg, I don't know how old you are, but watch this. Hey, Zack, do you remember Max headroom?
Zack Huels 49:03
No. You know, it's so funny when people ask me, like, I'm usually like, yeah, of course I have my, like, my finger on culture good enough to remember things and no I don't.
Chris Gandy 49:13
All right, Zack home. The homework today is you gotta watch a max headroom. Greg, you remember Max headroom. Do you remember the Pepsi commercial? You remember the Pepsi commercial, the Max headroom?
Do you remember that guy? He was the digital guy who was made up from I at that time, and he caught a glitch. It's called Max headroom. Right, everybody. Lots of NAIFA members will remember Max headroom. Right?
Zack Huels 49:36
It looks like Dolph Lundgren.
Chris Gandy 49:38
Yeah. Yeah, exactly. It was the Pepsi, right? And he was. He was the Pepsi guy.
Who was who was the computer who basically was the best Pepsi guy. Right? And so anyways, Max headroom, that's essentially the AI glitch, right? We don't want the AI glitch happening. Watch that.
Watch that video out there. There's a couple Max headroom commercials, but it just kind of shows you that you know that it's not perfect, right? My whole point is that it's not perfect. If it catches a glitch, it can actually mess up the whole product. So we don't want that to happen.
So Craig, let's go to the lightning round. I don't know if you watched the podcast at all, but it's just a series of questions so people can get to know you, who you are, what you're about. So when they see you somewhere, they can say, hey, I know that guy, right? Everybody's a stranger till you meet them for the first time. So for many of NAIFA members are seeing you for the first time today.
And you left us with a great impression of who you are, your servant, leadership and the roles you've played with NAIFA. But now people want to get to know you. So I'm going to ask you a couple of these questions. They're pretty quick, fast and then we'll go after it okay.
Craig Wright 50:44
Sounds good.
Chris Gandy 50:44
So Craig, what's your favorite food?
Craig Wright 50:47
Favorite food? I enjoy a really good steak.
Chris Gandy 50:52
A really good steak. How's it? How's it cooked?
Craig Wright 50:55
Medium rare. It's the only way.
Chris Gandy 50:57
I don't know why. This is Zack. It has to be parts of the country. I'm telling you like this. This whole thing.
Like it's certain parts of the country we had, we were having this conversation at NAIFA one day, but that's a whole nother when you see me. Let's talk about it. Right. Okay. All right.
Zack Huels 51:13
I remember that conversation. I don't think we should have bring it up on the pod.
Chris Gandy 51:16
You're you're you're most memorable time in the industry so far. Your proudest moment in the industry so far?
Craig Wright 51:26
Helping a client. So the quick story on it had a clients that came to me. He was a retired bi-vocational pastor. She had always been a stay at home housewife. Never.
They never had much. She had just inherited a little bit of money came to me. What do we do with it? So, you know, figured out some options for them and like, oh yeah, we've got this insurance policy that our old church had bought for us. But our guy that sold it to us said we probably should cancel it because we can't afford it anymore.
And I'm like, there's no way, like you're in your 70s now. We can't be canceling a life insurance policy. So long story short, found a way for them to save it. Year goes by, he ends up passing away unexpectedly, and the financial dignity that still remains to her to this day because of the ability to for us to save that policy, find a way to make the premium payments keep it in force. She was able to move back to where she grew up, where her kids and grandkids live.
In fact, she called me one day and said, Hey Craig, I found a home I want to buy. I've got two questions for you. One, can I afford it? Two if I move to Ohio, will you still be my advisor? Can you still be my advisor?
Because I'm not moving. If you can't be, I'm like, there's no way one. Yes, you can afford it. Buy it, pay cash, do it now. Second.
Yes, I already have clients in Ohio anyway. Doesn't matter. You're my client. So she's still my client to this day. Not the wealthiest person I've ever worked with by any means.
But the opportunity to save her financial dignity when tragedy struck and to be so important to her because of that, that she wasn't gonna move to be closer to her kids and grandkids if I couldn't still work with her for that. So that's my most proudest moment of being in this business. And someone that I, you know, wasn't the highest comp I've ever made by any means, but it was helping someone who needed help. And we have the ability and tools to do that. So that's really — sorry. That wasn't a quick answer.
Zack Huels 53:42
No, it's really special.
Chris Gandy 53:44
Craig. Next question. Your 21-year-old self. What advice would you give yourself?
Craig Wright 53:53
Do more to be a better learner of people, which is terrible grammar in saying so, but learning how to learn more from others at a younger age and to be a better person because of that. That's what I would wish I would have done when I was younger, instead of thinking I already know it all because to this day I'm in my 40s now. I don't know it all, Yeah, but I can still learn from younger and older alike. So be a better learner of people.
Chris Gandy 54:27
Last question. You could go back in time and have dinner or lunch with anybody in history. Whether they're alive today or they've passed away, who would it be and why?
Craig Wright 54:40
That is a very tough question. I think at the heart of it, there is so much we can learn on the spiritual side of things. And so I think if you could learn from the master of the spiritual side of things, in my view would be Jesus Christ, and being able to have that opportunity to learn there, that would be unlike anything else. Even though there's some great alive and historical figures today at the heart of it, whenever he spoke to all things, not just spiritual, can learn very, very well there. So I think that's where I would go.
Chris Gandy 55:22
Craig. That's it man. You've made it through the speed round. So NAIFA is listening. Anything you want to address your colleagues or anyone in NAIFA or to NAIFA Nation. Anything you want to share?
Craig Wright 55:34
Yeah, I would just say, hey, I encourage everyone to get involved within NAIFA, within your affiliate, your local, your state, national serving on committees. You never know where it can lead you. I've had some incredible opportunities just by simply raising my hand and saying, yeah, I'm interested. And in fact, just this year was appointed to the Department of Labor's ERISA Advisory Council. And so I am one of 15 members on this council and the only financial advisor.
And it's like, I don't know why I was picked. It doesn't make sense to me, but I've got something to share. And that's directly from my involvement in NAIFA and advocacy. Being active in that world and so get involved. You never know where it can lead you if you're just willing to step up.
Everyone has something to share. Because whether you've been in this business and just passed one test or whether you've been doing it for 20, 30, 40 years, you've got something to share with others that can help others and at the same time, help yourself by being willing to help others as well. So that's what I'd encourage NAIFA Nation to do. What it does best is to be a resource for others.
Chris Gandy 56:51
All right. Zack. Would you — do you have anything for NAIFA Nation? Would you just remind us of the dates? For NLC?
Zack Huels 57:01
Yeah, absolutely. You'll probably want to get there October 13th that night to go and be ready and prepped and bright eyed for October 14th, that day of learning and experiencing in growth. So just yeah, keep that sharp on your calendar and make sure that it's top of mind if you're planning on coming.
Chris Gandy 57:20
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Outro 58:00
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