The Model FA
David DeCelle
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Gary Zimmerman on Looking Out for Your Client’s Financial Interest
• 58 minGary Zimmerman is Managing Partner at Six Trees Capital and Founder and CEO of MaxMyInterest, an automated online solution that helps investors earn more on their cash balances. Before founding MaxMyInterest amid the global financial crisis, Gary had been an investment banker for Citigroup, where he advised funds with more than $5 trillion in assets under management as Managing Director and Global Head of Strategic Solutions for Sovereign Wealth Funds. Gary completed his degree in Economics Magna cum Laude at Harvard University and completed an executive education program at the Wharton School of the University of Pennsylvania. Gary joins me today to discuss how MaxMyInterest helps financial advisors and their clients earn more on their cash in the bank. He discusses how he became interested in economics and the financial industry and shares how his curiosity and propensity for problem-solving drove him to start his own company. He explains why cash is a bad asset class and how advisors can talk to their clients about cryptocurrency. He also highlights why putting profit over clients is bad for business and underscores the key characteristics that make a great financial advisor. “Understanding human emotions and being able to hold the hands of clients to keep them steady is a key feature of a good advisor.” - Gary Zimmerman This week on The Model FA Podcast: Gary’s background, why he switched majors from biochemistry to economics, and his beginnings in the banking industry Why Gary loves working with fiduciaries and RIAs How to talk to clients about cryptocurrency Gary’s tips for avoiding burnout and the best part about working in the banking industry The value of learning within and outside of your profession Making the entrepreneurial leap and why Gary took the risk to start his own company The faults in brokerage deposit solutions and the benefits of online banks Classic company founder mistakes and the average amount of assets high net-worth households keep in cash How MaxMyInterest evolved into an AUM growth tool for financial advisors MaxMyInterest’s hub-and-spoke system and how it works The exponential relationship system and how to turn clients into raving fans Why Gary thinks brokerage dealers would only use MaxMyInterest when there’s competitive pressure What makes the best financial advisors Resources Mentioned: Book: Liar’s Poker by Michael Lewis Our Favorite Quotes: “Instead of thinking of it as ‘sacrificing,’ think of it as ‘investing’ in whatever it is you’re pursuing — and know that it’s all for something.” - David DeCelle “If you’re not looking out for your client’s best interest, it’s hard to see how you can be a good business in the long term.” - Gary Zimmerman “Rather than being a salesperson, do your best to intentionally and thoughtfully advance the relationship.” - David DeCelle Connect with Gary Zimmerman: MaxMyInterest Six Trees Capital MaxMyInterest on LinkedIn MaxMyInterest on Instagram MaxMyInterest on Twitter Gary Zimmerman on LinkedIn About the Model FA Podcast The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams. Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While
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