246 Shruti Joshi / The Financial Advisor Model Is Changing - Are You Ready?

In this episode of Elite Advisor Podcast, Sten Morgan sits down with Shruti Joshi, President and COO of Facet, to unpack where financial advice is heading - and why the future advisor is defined by holistic, ongoing planning rather than the products they sell. Shruti explains why consumers now want an accountability partner who helps them take action, how Facet's flat-fee, CFP-led model removes the conflicts of commissions and asset-based fees, and why the real superpower in an AI world is human connection and behavior change - what she calls "therapy with a calculator." They also get practical for advisors: how to align your service model and pricing, why planning is the product and investing is how you deliver it, and the small steps any advisor can take to adapt without abandoning what already works. If you have felt the ground shifting under the old model, this conversation shows what to do about it. **In This Episode** - The future advisor leads with holistic, dynamic planning, not products, because that is what consumers now demand. - Objectivity builds trust: a flat fee with no commissions or asset-based conflicts is what drives real behavior change. - Technology plus humans wins. AI handles the computation; your superpower is communication, accountability, and encouragement. - Planning is the product and investing is how you deliver it - the opposite of giving away the plan to win assets. - You can evolve in small steps. Align your service model and pricing to who you actually serve, without abandoning AUM or insurance. **Episode Timestamps** 00:00 - Introduction 00:38 - Where Financial Advice Is Heading 02:05 - Money, Stress, and What Consumers Really Want 05:16 - Redefining What "Financial Advisor" Means 08:18 - Therapy With a Calculator: The Human Superpower 09:48 - Facet's Flat-Fee, No-Commission Model 12:29 - Aligning Your Service Model and Pricing 15:54 - How to Start Becoming a Different Advisor 32:17 - Maslow and the Top of Financial Planning **Get the Free Episode Companion Guide:** Want the cheat sheet for this episode? We turned the biggest ideas into a one-page companion guide - the future-advisor shift, key takeaways, and three action steps. Grab your free copy here: https://gobeelite.com/elite-advisor-podcast-companion-page?utm\source=shownotes&utm\medium=podcast&utm\campaign=ep\246\shruti\joshi **Free Resources for Financial Advisors:** Want to become a more elite advisor? Get our free course on how to become an Elite Advisor, plus training videos that show you how to whiteboard ideas with clients using real examples. Get the free resources here: https://gobeelite.com/elite-advisor-path-resources?utm\source=shownotes&utm\medium=podcast&utm\campaign=ep\246\shruti\joshi **Get the Free Book: *Value First Prospecting*** Most advisors were trained to sell first and hope trust shows up later. Value First Prospecting shows you how to create demand, lead with ideas, and turn first meetings into strategy conversations instead of sales meetings. You can claim a free copy of Sten Morgan's book, Value First Prospecting. Just cover shipping. Get the book here: https://gobeelite.com/free-book?utm\source=shownotes&utm\medium=podcast&utm\campaign=ep\246\shruti\joshi **Attend Elite Advisor Live:** Elite Advisor Live is our in-person training where advisors get the reps, feedback, and proven system to start charging for advice and clearly communicate their value. Learn more about Elite Advisor Live here: https://www.eliteadvisorlive.com?utm\source=shownotes&utm\medium=podcast&utm\campaign=ep\246\shruti\joshi **Join Elite+:** Elite+ is for advisors who are done dabbling and ready to become Elite. Inside Elite+, you get proximity, accountability, real-time coaching, and a complete operating system to help you remove resistance and grow at a higher level. Join Elite+ here: https://eadvisornetwork.com/join-ean?utm\source=shownotes&utm\medium=podcast&utm\campaign=ep\246\shruti\joshi **Connect With Elite Advisor Network** Website: https://www.eliteadvisornetwork.com?utm\source=shownotes&utm\medium=podcast&utm\campaign=ep\246\shruti\joshi Podcast: https://podcasts.apple.com/us/podcast/the-elite-financial-advisor-podcast-with-sten-morgan/id1601321140 LinkedIn: https://www.linkedin.com/company/elite-advisor-network YouTube: https://www.youtube.com/@EliteAdvisorNetwork **Subscribe** Subscribe for more conversations, training, and practical ideas to help financial advisors reject average and become elite. #EliteAdvisorNetwork #FinancialAdvisor #StenMorgan #FinancialPlanning #FutureOfAdvice #FeeOnly #AdvisorGrowth