Keith is a First Vice President of Wealth Management and Family Wealth Director at Morgan Stanley. This designation substantiates Keith’s 20+ years of serving the needs of his clients.

Bob is a Principal and team leader of the Office Property Division at Colliers International Denver, where over the past three decades, he has quickly become one of the top brokers in Colorado.

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3 Value Bombs

1) Have personal relationships and sit down face-to-face; have actual conversations on a specific subject matter.

2) Communication platforms will expand more and more in the future. We’re going to see a tremendous progression with how we communicate in the future.

3) Your ability to access real-time data, and use that data to assist clients in making business decisions, is paramount today – and it will be the cornerstone of business moving forward.

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**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: Big Brother or Big Data?

[2:23] – Bob shares something interesting about himself that most people don’t know.

• He is an avid outdoors fan. He loves outdoor activities such as fishing, skiing, biking, etc.

[3:08] – Bob’s backstory: where he’s from, where he went to school, and how he got to where he is right now.

• He traveled quite a bit, which is good and bad. The bad is he didn’t have long-term connections. The good is that he got to see and understand many people in different demographics.
• He went to the University of Colorado.
• He worked with AT&T Technologies, but realized that he wanted to be more entrepreneurial.

[5:02] – Bob shares the specific tech skills a person needs to complete his job.

• Have an inquisitive mind—one that is always innovating.
• The foundation is using analytics tools such as Excel, other tools that help the clients understand the financial impact of the decision they’re making.
• Be precise with the data. If you’re not precise with what you’re asking the software to do, you don’t get good results.

[7:07] – Keith shares a breakdown of where he came from, where he went to school, and how he got to where he is right now.

• He attended Colorado State University where he pursued a degree in Public Accounting.
• He had a chance to be an intern in the Financial Services Industry, which paved the way for him to be in that line of work right after school.
• His analytical side loves accounting, while his relational side loves being around people and spending time communicating and working closely with people.

[9:05] – What tech skills does Keith believe are required to excel at his kind of job?

• The ability to access people through Skype and Zoom platforms.
• The ability to do spreadsheets and PowerPoint presentations are important day in and day out.
• Proficiency in media platforms available today is also important.

[10:30] – The things that have changed in technology that have helped them do the job better.

• The way we communicate has improved. The ability to reach clients is simpler.
• Trading securities changed dramatically, too. The access we have to markets is the greatest it has ever been.
• Reporting has been a big deal, as well. It now happens instantaneously. It can be both a blessing and a curse, especially to markets that are volatile.

[13:38] – The FinTech combo — what are Bob’s thoughts on it?

• FinTech is a perfect combination.
• The ability to access real-time data, and use that data to assist clients in making business decisions, is paramount today – and it will be the cornerstone of business moving forward.

[14:55] – Where will technology take this field of work in both the short-term and long-term future?

• Doing their business virtually is something that will not change.
• The world has become more digital. We are now more interconnected than ever. But we suffer from data fatigue and analysis paralysis.
• Having personal relationships and being able to sit down face-to-face to have actual conversations on a subject specific matter is critical.
• Money as an emotional thing. Those emotions can lie to clients.
• There’s a real premium to the ability to be face-to-face with somebody.
• Most people want to talk through events with somebody.
• Social media and other platforms have put us on islands in a lot of ways, but that’s not what we’re designed to be on.

[19:33] – A timeout to thank our sponsors, Creighton and  Thinkific!

[21:55] – Keith shares his take on technologies that we use today, but that won’t be around in 5-10 years.

• The use of fiat currency may be gone in 5-10 years. Everything could be done digitally.
• Desktop computers may be just a part of the past. There will be more mobile device usage.
• Cable TV and DV-R systems may be migrated over to subscription-based services.

[26:52] – What are some things that will be obsolete in 5-10 years – and what will remain?

• Automobile ownership in urban areas could be obsolete.
• Communication platforms may just expand more and more in the future. We’re going to see a tremendous progression with how we communicate in the future.

[28:15] – Bob and Keith share their favorite part of their current job, and their least favorite part of it.

• Bob’s job requires a lot of personal interaction. Creating those personal bonds and meeting people face-to-face is his favorite.
• Going through 30 to 50-page documents that require you read and comprehend the entire thing – this is his least favorite.
• Keith loves the relational and analytical side of the business.
• What Keith doesn’t enjoy is the some of the administrative churn they have to deal with. Compliance issues and the regulatory environment makes it hard to do things.

[31:22] – Are we in the hands of Big Brother?

• Bob thinks we’re in peril, going into the hands of Big Brother – especially as we work through this work from home phenomena.
• Corporations are trying to understand productivity gains and losses over this work from home mentality.
• Keith agrees, but it is something we can control. Big Brother now knows more about us than they ever have, and they continue to find out more about our patterns in terms of how we spend time – and money.
• We can choose how we spend our time in various technology platforms.

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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