November 20, 2025 • 10 mins
Most owners wait to hire a planner until everything is “ready.” That’s how you stay stuck. I asked my communities why more people aren’t working with planners and the answers were clear. Not enough money yet. Bad advisor experiences. Confusion about what planners actually do. I lay out the truth and the path forward.
This is an audio-first breakdown of coach vs planner, what licensed planning includes, and how to move from survival decisions to strategic ones. Especially for women, minority, and LGBTQ owners who are building without a safety net.
In this episode:
- Real reasons folks don’t hire planners
- Coaching for mindset, planning for systems
- Why licensing and accountability matter
- Holistic planning for life and business
- Behavior, relationships, and money
- First steps you can take this week
Full video is on YouTube: https://youtu.be/SKhLCYAtuZs
As always we ask you to comment, DM, whatever it takes to have a conversation to help you take the next step in your journey, reach out on any platform!
Twitter, FaceBook, Instagram, Tiktok, Linkedin
DISCLOSURE: Awards and rankings by third parties are not indicative of future performance or client investment success. Past performance does not guarantee future results. All investment strategies carry profit/loss potential and cannot eliminate investment risks. Information discussed may not reflect current positions/recommendations. While believed accurate, Black Mammoth does not guarantee information accuracy. This broadcast is not a solicitation for securities transactions or personalized investment advice. Tax/estate planning information is general - consult professionals for specific situations. Full disclosures at www.blackmammoth.com.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
It's been a while since we'vedone one of these damn things.
(00:03):
Let's get real.
Let's go.
Last week I posed a question to,I guess my audience, my network,
simply as like, why haven't youhired me?
Let's be blunt, brutally honest.
Why haven't you hired?
Now, I asked this question for acouple reasons.
One, I really want to knowhonestly, and two, I wanted to
get some feedback to what'sgoing on and why more people
(00:25):
aren't hiring financialplanners.
I poses this question to thethreads.
And with threads, I asked whyare people hiring more coaches
over financial planners?
And we got some mixed resultsand some different ideas and
comments that were come out.
So today's episode, we're gonnaget into that and I want to
challenge you listeners andasking yourself why you don't
have a financial planner orfinancial coach.
(00:46):
There are some bad, bad assesout there that are doing a
really good job, biased, in myopinion.
You should have someone who islicensed and has.
The regulatory body thatoversees us because it does
protect you.
But I digress.
Let's get into it.
I'm gonna group some of thesecomments and, and I might post
some of'em, but, uh, leavepeople outta'em.
But in general, these were thethree, I'll go with three right
(01:08):
now.
These were the three big itemsor issues, uh, that popped up in
the comments when I pose thisquestion from different social
media platforms.
So it's very interesting.
Let's get at it first Facebook.
Okay.
I post it to a Facebook groupand I post it to my personal.
On my personal, uh, a couplethings were talked about and
discussed.
One in general wasprocrastination, and so they,
(01:30):
they booked a meeting that,that's completely fine.
Procrastination happens, we'rehumans.
It is what it is.
The other was not feeling likethey had enough money or they
weren't set up yet in order tospeak to me.
That one's a tough one, becausein order to feel ready, you
already have worked on yourmoney mindset.
You already have things goingright.
(01:50):
Things are acting in a positiveway.
Well, that's, that's a lot ofwhat we do.
That's a lot of our job is tohelp make that and get your
backend going.
Understand what your mindset is,uh, understand and set up and
organize your financials in away that it will grow.
Positive things will happen, andyou can take opportunities as
they come.
As opposed to, I'm sitting herenegative, I'm feeling bad,
(02:13):
depressed, what have you.
I'll, once I get feeling better,I'll hire someone.
It's ass backwards.
We, we gotta flip that thinkingand I challenge you to do so.
The other was a Facebook groupI'm involved with, and that one
was totally spun differently,right?
The, the comments were, youdon't know who you're talking
to, your, your audience.
You don't know exactly whoyou're speaking to.
You need to take a softerapproach.
It sounds, ai, you know, thosetypes of things.
(02:35):
And the biggest question oflike, what is it you actually
do?
And I took that one and I waslike, well, Joel, damn sure I'm
not doing a good enough job ofsaying what I'm doing, so this
is why we're doing a let's getreal episode.
You know, we talk about what wedo a little more, uh, but it
helps me change my content.
The other is I speak a certainway and I'm not gonna apologize
for it.
I am very direct.
I am telling people that theyneed to get off their ass and
(02:57):
get going, get moving.
I am saying that, hey, yeah,you've had bad luck in life.
You've had trauma, but there'sways to move forward.
I'm not gonna change thatbecause those types of people
that need that push are the onesthat are gonna wanna be my
clients.
I can't be here for everybody.
We've said this time and timeagain.
I'm only gonna have maybe 40clients give or take under me,
(03:17):
right?
If we expand and we have otheradvisors, stuff like that,
that's different.
But within me, I'm only about40.
My collective, yeah, I've got alot of badass planners, but they
all have their different nichesand people that they wanna work
with.
So we're not here for everyone,but the content is the
education.
All right, so we've got twodifferent fields with Facebook.
Uh, Twitter sucks.
They don't respond ever.
Threads on the other hand, seemto be jumping down of a coach
(03:40):
versus financial planner, andwhat's better, what's not.
And, and I didn't really askthat maybe correctly or didn't
want to go into a coach versusplanner.
Uh, but traditionally they areright.
Advisors suck.
They only cared about money, um,and investments and stuck to
that, they didn't care aboutemotions.
They didn't, they didn't getinto the behavioral side of
things.
And so I challenged everyone onthat thread.
(04:01):
It's changing the collective.
We have at no BS Wealth, thebadass list of.
Uh, CFPs that I know we dothings differently.
We're focused on the behavioralfinance.
We're focused on your emotions,your mindset first before even
thinking about a plan.
And that kind of gets back tothe, the comments that we heard
on the Facebook side of thingsof, um, well, we don't know what
you do, or, I don't feel likeI'm ready for it.
(04:23):
That's the thing that feel.
That's what we're here for.
We're gonna help you.
Right, and I want everyone to,I, I talk about this a lot, but
I want everyone to just pausereal quick and answer this
question.
What's your first money memory?
It's gonna be something aboutyour childhood.
And as you reflect on it, nowthat you've said it and thought
about it, how has that affectedyou as an adult?
How has that grown with you overtime?
(04:44):
And I almost guarantee youremotional point of money will
revert back to that time period.
For me, it was like when I wasnine or 10, and so I back with
my nine or 10-year-old self foryou whenever it was.
That's who you turn into aroundmoney.
So you tell me if me at nine and10 years old could overcome
something like that and it'sgonna get good enough or further
enough in life to then hiresomeone like myself doesn't work
(05:06):
like that.
We need to help you on the frontend.
That way we can protect you inthe long run.
We can't protect you in the longrun when things and mistakes
have already happened.
So think about that.
So threats went back and forthon coach first, not coach.
Yeah.
I'm gonna give you my opinion'cause that's what I do and
it's, let's get real.
And my, my opinion is there aresome really good coaches.
Don't get me wrong.
(05:26):
There are some really badfinancial planners and advisors.
There's really bad coaches.
All of that is true.
However, we're able to giveadvice and implement plans with
you and do all the things thatcoaches can do.
But with the protection ofregulations, the protection of
our securities license, thatwill help in case something does
go bad, guess what?
(05:47):
You have somewhere to sue.
We also have the training.
The designations and some moreexperience in that realm from
the book side of things, ofcourse, than other coaches.
Now, don't get me wrong, thereare some really good coaches
that have been throughtremendous things in their life
that are really good at teachinga certain way.
They're not also designed forthe bigger holistic picture.
Can you have both?
Absolutely.
(06:07):
But in my opinion, a lot of usare transitioning to the
holistic side of things.
Your financial planners arebecoming quote unquote.
Coaches, but we're justconsultants.
We're dealing with thebehavioral side of things.
So that's my advice on thatwhole topic.
And then LinkedIn, uh,LinkedIn's about cost.
That's really what it came downto.
So at the end of the day, costis always going to be your
biggest issue.
(06:28):
You think you're not ready.
Thirdly, you just don't knowwhat we do.
So I'm gonna take some time totry to explain what we do.
And it's not easy.
I've tried to market this.
I tried speaking about it.
I, I, it is really difficult.
And my clients that arelistening, if you want to
comment on this, you can, butit's more of a feel situation
when it comes to black Mammothin our modern family office,
(06:48):
right?
Um, I know we're on.
Let's get real channel No, be aswealth get.
I get it.
But at Black Mammoth, woo, wefocus on you.
First and foremost, we're gonnafigure out who you are, what
brings you joy, right?
Uh, thank you, Larry Sprung onthat one.
What brings you joy?
How does that align with whatyou need to do?
Then we can build a plan andmake decisions based on that.
What you didn't hear me say isanything about insurances, your
(07:08):
investments, estate planning.
What are all the other terms?
Tax planning.
Tax returns, businessconsulting.
CFO work.
CO work.
You, you didn't hear me say allthose things.
'cause first we gotta know whoyou.
Where you came from, whattraumas you have.
Some of my newer clients alwaysgo through this battle up front,
and that is married couples, ifyou will, business owners if you
will.
One grew up one way, right?
(07:28):
Usually in survival mode withtheir family.
The other grew up in kind of amiddle class, always had money
around.
Those are two fundamentallydifferent mindsets when it comes
to money, and it's really toughto combine those unless you do
the work.
We're here to do some of thatwork.
Then how does that back intoeverything that's going on?
Yeah, we're gonna do the taxplanning stuff.
We're gonna get ahead of that,so, you know.
What's coming down the pipe, atleast two tax planning meetings
(07:51):
directly related to that so youknow when your tax bill is gonna
be, or we can implement taxstrategies.
We are gonna do your legacyplanning and update that every
time it needs updated, not 10years down the road and after we
have kids or business changes.
Literally every time.
Yes.
We're gonna make sure that youremployee benefits, whether you
are the employer or you work forsomeone else that are ideal for
(08:12):
you and your situation.
Not for every other one.
Everyone else?
Yes.
We're gonna, we're gonna talkabout investments and how they
fit into this whole big picture.
Yes.
We're gonna be there when youneed a lender.
For a business opportunity, acar, a home, you name it.
Yes.
We're gonna be there toimplement that.
Yes, we're gonna be there foryou.
Business owners that wake up atone and two, three in the
morning, and you're like so muchgoing on in your brain and you
(08:34):
don't know how to get it out, goright ahead, type it into Slack.
Well, we'll answer you tomorrow.
Yes, we're gonna be there whenfour of your staff decide to
quit.
Half of your business getsinterrupted.
Yes, we're gonna be there when.
The growth is so fast you don'tknow what to do or how to
operate.
Yes, we're gonna be there whenthe IRS decides to give one of
those scare tactic letters outthat we all get and we don't
know what to do with, we'regonna be there to answer it for
(08:55):
you to call me right away.
You tell me where in that, thatfalls under coaching, that falls
under.
Financial planning.
The CFP, I don't know.
Okay.
That's why I have the ModernFamily office, and that's what
we talk about is simply becausethat's what it entails and
entails everything in your life,all the emotions, the
relationships, the things thatgrow with you.
It's not a a line item, aservice item that you can see on
(09:17):
a website.
It's something that you feel inhere.
And my clients, that's what theydo.
So, yeah.
Have I done a poor job ofexplaining all of that?
Absa fricking, literally, how doyou do that in text?
How do you do that in videos?
You don't.
You, you, you take that leap.
Of faith.
You trust me.
Trust my team to be here foryou.
And when those things happen,we're here, you start to feel
that.
You start to understand theimportance of a modern family
(09:38):
office that isn't just a coachor a financial planner or
advisor, insurance agent, youname it.
'cause we can see it all and wecan do it all for you.
So.
That's another, let's get realepisode one that hits a little
more heart to me.
Haven't been around in a while,but hey, we are back.
We're back with more energy.
We're back with more directthings like this.
And yes, we will talk aboutwhat's going on geopolitically
and how that potentially leadsus to a recession, or are we
(10:01):
already in one?
It's been a while since we'vedone one of these damn things.
(00:03):
Let's get real.
Let's go.
Last week I posed a question to,I guess my audience, my network,
simply as like, why haven't youhired me?
Let's be blunt, brutally honest.
Why haven't you hired?
Now, I asked this question for acouple reasons.
One, I really want to knowhonestly, and two, I wanted to
get some feedback to what'sgoing on and why more people
(00:25):
aren't hiring financialplanners.
I poses this question to thethreads.
And with threads, I asked whyare people hiring more coaches
over financial planners?
And we got some mixed resultsand some different ideas and
comments that were come out.
So today's episode, we're gonnaget into that and I want to
challenge you listeners andasking yourself why you don't
have a financial planner orfinancial coach.
(00:46):
There are some bad, bad assesout there that are doing a
really good job, biased, in myopinion.
You should have someone who islicensed and has.
The regulatory body thatoversees us because it does
protect you.
But I digress.
Let's get into it.
I'm gonna group some of thesecomments and, and I might post
some of'em, but, uh, leavepeople outta'em.
But in general, these were thethree, I'll go with three right
(01:08):
now.
These were the three big itemsor issues, uh, that popped up in
the comments when I pose thisquestion from different social
media platforms.
So it's very interesting.
Let's get at it first Facebook.
Okay.
I post it to a Facebook groupand I post it to my personal.
On my personal, uh, a couplethings were talked about and
discussed.
One in general wasprocrastination, and so they,
(01:30):
they booked a meeting that,that's completely fine.
Procrastination happens, we'rehumans.
It is what it is.
The other was not feeling likethey had enough money or they
weren't set up yet in order tospeak to me.
That one's a tough one, becausein order to feel ready, you
already have worked on yourmoney mindset.
You already have things goingright.
(01:50):
Things are acting in a positiveway.
Well, that's, that's a lot ofwhat we do.
That's a lot of our job is tohelp make that and get your
backend going.
Understand what your mindset is,uh, understand and set up and
organize your financials in away that it will grow.
Positive things will happen, andyou can take opportunities as
they come.
As opposed to, I'm sitting herenegative, I'm feeling bad,
(02:13):
depressed, what have you.
I'll, once I get feeling better,I'll hire someone.
It's ass backwards.
We, we gotta flip that thinkingand I challenge you to do so.
The other was a Facebook groupI'm involved with, and that one
was totally spun differently,right?
The, the comments were, youdon't know who you're talking
to, your, your audience.
You don't know exactly whoyou're speaking to.
You need to take a softerapproach.
It sounds, ai, you know, thosetypes of things.
(02:35):
And the biggest question oflike, what is it you actually
do?
And I took that one and I waslike, well, Joel, damn sure I'm
not doing a good enough job ofsaying what I'm doing, so this
is why we're doing a let's getreal episode.
You know, we talk about what wedo a little more, uh, but it
helps me change my content.
The other is I speak a certainway and I'm not gonna apologize
for it.
I am very direct.
I am telling people that theyneed to get off their ass and
(02:57):
get going, get moving.
I am saying that, hey, yeah,you've had bad luck in life.
You've had trauma, but there'sways to move forward.
I'm not gonna change thatbecause those types of people
that need that push are the onesthat are gonna wanna be my
clients.
I can't be here for everybody.
We've said this time and timeagain.
I'm only gonna have maybe 40clients give or take under me,
(03:17):
right?
If we expand and we have otheradvisors, stuff like that,
that's different.
But within me, I'm only about40.
My collective, yeah, I've got alot of badass planners, but they
all have their different nichesand people that they wanna work
with.
So we're not here for everyone,but the content is the
education.
All right, so we've got twodifferent fields with Facebook.
Uh, Twitter sucks.
They don't respond ever.
Threads on the other hand, seemto be jumping down of a coach
(03:40):
versus financial planner, andwhat's better, what's not.
And, and I didn't really askthat maybe correctly or didn't
want to go into a coach versusplanner.
Uh, but traditionally they areright.
Advisors suck.
They only cared about money, um,and investments and stuck to
that, they didn't care aboutemotions.
They didn't, they didn't getinto the behavioral side of
things.
And so I challenged everyone onthat thread.
(04:01):
It's changing the collective.
We have at no BS Wealth, thebadass list of.
Uh, CFPs that I know we dothings differently.
We're focused on the behavioralfinance.
We're focused on your emotions,your mindset first before even
thinking about a plan.
And that kind of gets back tothe, the comments that we heard
on the Facebook side of thingsof, um, well, we don't know what
you do, or, I don't feel likeI'm ready for it.
(04:23):
That's the thing that feel.
That's what we're here for.
We're gonna help you.
Right, and I want everyone to,I, I talk about this a lot, but
I want everyone to just pausereal quick and answer this
question.
What's your first money memory?
It's gonna be something aboutyour childhood.
And as you reflect on it, nowthat you've said it and thought
about it, how has that affectedyou as an adult?
How has that grown with you overtime?
(04:44):
And I almost guarantee youremotional point of money will
revert back to that time period.
For me, it was like when I wasnine or 10, and so I back with
my nine or 10-year-old self foryou whenever it was.
That's who you turn into aroundmoney.
So you tell me if me at nine and10 years old could overcome
something like that and it'sgonna get good enough or further
enough in life to then hiresomeone like myself doesn't work
(05:06):
like that.
We need to help you on the frontend.
That way we can protect you inthe long run.
We can't protect you in the longrun when things and mistakes
have already happened.
So think about that.
So threats went back and forthon coach first, not coach.
Yeah.
I'm gonna give you my opinion'cause that's what I do and
it's, let's get real.
And my, my opinion is there aresome really good coaches.
Don't get me wrong.
(05:26):
There are some really badfinancial planners and advisors.
There's really bad coaches.
All of that is true.
However, we're able to giveadvice and implement plans with
you and do all the things thatcoaches can do.
But with the protection ofregulations, the protection of
our securities license, thatwill help in case something does
go bad, guess what?
(05:47):
You have somewhere to sue.
We also have the training.
The designations and some moreexperience in that realm from
the book side of things, ofcourse, than other coaches.
Now, don't get me wrong, thereare some really good coaches
that have been throughtremendous things in their life
that are really good at teachinga certain way.
They're not also designed forthe bigger holistic picture.
Can you have both?
Absolutely.
(06:07):
But in my opinion, a lot of usare transitioning to the
holistic side of things.
Your financial planners arebecoming quote unquote.
Coaches, but we're justconsultants.
We're dealing with thebehavioral side of things.
So that's my advice on thatwhole topic.
And then LinkedIn, uh,LinkedIn's about cost.
That's really what it came downto.
So at the end of the day, costis always going to be your
biggest issue.
(06:28):
You think you're not ready.
Thirdly, you just don't knowwhat we do.
So I'm gonna take some time totry to explain what we do.
And it's not easy.
I've tried to market this.
I tried speaking about it.
I, I, it is really difficult.
And my clients that arelistening, if you want to
comment on this, you can, butit's more of a feel situation
when it comes to black Mammothin our modern family office,
(06:48):
right?
Um, I know we're on.
Let's get real channel No, be aswealth get.
I get it.
But at Black Mammoth, woo, wefocus on you.
First and foremost, we're gonnafigure out who you are, what
brings you joy, right?
Uh, thank you, Larry Sprung onthat one.
What brings you joy?
How does that align with whatyou need to do?
Then we can build a plan andmake decisions based on that.
What you didn't hear me say isanything about insurances, your
(07:08):
investments, estate planning.
What are all the other terms?
Tax planning.
Tax returns, businessconsulting.
CFO work.
CO work.
You, you didn't hear me say allthose things.
'cause first we gotta know whoyou.
Where you came from, whattraumas you have.
Some of my newer clients alwaysgo through this battle up front,
and that is married couples, ifyou will, business owners if you
will.
One grew up one way, right?
(07:28):
Usually in survival mode withtheir family.
The other grew up in kind of amiddle class, always had money
around.
Those are two fundamentallydifferent mindsets when it comes
to money, and it's really toughto combine those unless you do
the work.
We're here to do some of thatwork.
Then how does that back intoeverything that's going on?
Yeah, we're gonna do the taxplanning stuff.
We're gonna get ahead of that,so, you know.
What's coming down the pipe, atleast two tax planning meetings
(07:51):
directly related to that so youknow when your tax bill is gonna
be, or we can implement taxstrategies.
We are gonna do your legacyplanning and update that every
time it needs updated, not 10years down the road and after we
have kids or business changes.
Literally every time.
Yes.
We're gonna make sure that youremployee benefits, whether you
are the employer or you work forsomeone else that are ideal for
(08:12):
you and your situation.
Not for every other one.
Everyone else?
Yes.
We're gonna, we're gonna talkabout investments and how they
fit into this whole big picture.
Yes.
We're gonna be there when youneed a lender.
For a business opportunity, acar, a home, you name it.
Yes.
We're gonna be there toimplement that.
Yes, we're gonna be there foryou.
Business owners that wake up atone and two, three in the
morning, and you're like so muchgoing on in your brain and you
(08:34):
don't know how to get it out, goright ahead, type it into Slack.
Well, we'll answer you tomorrow.
Yes, we're gonna be there whenfour of your staff decide to
quit.
Half of your business getsinterrupted.
Yes, we're gonna be there when.
The growth is so fast you don'tknow what to do or how to
operate.
Yes, we're gonna be there whenthe IRS decides to give one of
those scare tactic letters outthat we all get and we don't
know what to do with, we'regonna be there to answer it for
(08:55):
you to call me right away.
You tell me where in that, thatfalls under coaching, that falls
under.
Financial planning.
The CFP, I don't know.
Okay.
That's why I have the ModernFamily office, and that's what
we talk about is simply becausethat's what it entails and
entails everything in your life,all the emotions, the
relationships, the things thatgrow with you.
It's not a a line item, aservice item that you can see on
(09:17):
a website.
It's something that you feel inhere.
And my clients, that's what theydo.
So, yeah.
Have I done a poor job ofexplaining all of that?
Absa fricking, literally, how doyou do that in text?
How do you do that in videos?
You don't.
You, you, you take that leap.
Of faith.
You trust me.
Trust my team to be here foryou.
And when those things happen,we're here, you start to feel
that.
You start to understand theimportance of a modern family
(09:38):
office that isn't just a coachor a financial planner or
advisor, insurance agent, youname it.
'cause we can see it all and wecan do it all for you.
So.
That's another, let's get realepisode one that hits a little
more heart to me.
Haven't been around in a while,but hey, we are back.
We're back with more energy.
We're back with more directthings like this.
And yes, we will talk aboutwhat's going on geopolitically
and how that potentially leadsus to a recession, or are we
(10:01):
already in one?
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