Aaron Spatz  00:10

Good morning DFW, you are listening to the Dallas Fort Worth Business Podcast. I’m so excited that you’re here this morning. I hope that you are having a phenomenal week. I’m excited to continue to just to bring show after show after show in the month of January. We’re doing we’re doing a show a day, every weekday. So we got 2020 amazing guests lined up. Excited to bring that to you. And, you know, let me know what you think if there’s anything that you are, like really, really loved about the show, if there’s somebody that you want to see if there’s if there’s some topic that you want us to drill down a little bit further, drop me a line podcast at Bold media.us I would love to pick up a conversation with you. Obviously tell your friends tell your family like share, follow subscribe all those nice obligatory terms that I’ll use one time I promised not to annoy you with that too, too much so excited to bring on our guest for today. It is the the amazing bass on Morris. I know he hates want to say that but phenomenal guy you’re gonna enjoy. You’re gonna enjoy having him here with us. So based on man, I just want to welcome you to the show, man.

Bezan Morris  01:13

Thanks so much, Eric. Good morning,

Aaron Spatz  01:14

it’s good to see you. Absolutely. So Bayes on is one of these financial visor, guys. So we got these like, weird legal regulatory things that we could go through. So based on is a friend of mine, I would hate to see him let off to jail. And so we got to do it. Right, man. So let me throw the disclosure stuff up real quick. So I’ll let you guys read that. Basically, it’s his contact info, phone number, email, all like all that jazz. Right. So you can follow him, you can connect with him here on social media.

Bezan Morris  01:45

And we’ll definitely talk a little more about that on LinkedIn is probably the best way. Okay, out. So all right,

Aaron Spatz  01:51

good deal. And then here’s the actual thing that matters most. And I’m not reading that. So

Bezan Morris  01:56

yeah, that’s my job. Pretty go. The material is being provided for information purposes only. There’s no guarantee that these statements opinions or forecasts provided herein will prove to be correct. Past performance does not guarantee future results. investing involves risk regardless of the strategy selected. Raymond James and advisors do not provide tax or legal advice. You cannot invest directly in any index, the s&p 500 It is an unmanaged index of 500 widely held stocks that generally consider representative of the US stock market.

Aaron Spatz  02:25

Thanks. Thank you, God, we, we made it, we made it through that so and you know, and let’s just let’s just go right there, because I’m just, I’m gonna, I’m gonna say squirrel, and I’m just gonna, I’m just gonna run after it. Right. So, like, s&p 500. It’s been up, it’s been a great, it’s been a great year for the stock markets. And until, you know, until things are changing, it’s I’m, I’m trying to tread lightly here as it relates to political political discussions. Like, okay, how much trouble do I want to get in this morning? Right, so right. Now, I’ll just say s&p 500 is done, done really? Well, I don’t really follow too closely, all all the other indexes, but definitely knows s&p has been up, we’ll see how long that lasts. What’s your thoughts there?

Bezan Morris  03:09

Yeah, um, you know, at the end of the day, a corporation a business, their job is to be profitable. So regardless, and, you know, you hear people in the industry talk about this quite a bit, regardless of who’s in office, a company is going to operate in a way to be profitable. So the most common misnomer that you kind of hear out there in the industry is Oh, a Republican, typically, right, business friendly, more fiscally, blacks or conservative like that. They’re, they’re the ones that are going to let businesses grow. But when you look back, historically, some of our worst years in the market for when a Republican was in office, and guess what, on the flip side, the anti business, regulatory pounding Democrats, oh, they kill businesses, some of the best years were when Democratic presidents were in office. So I don’t want to say it doesn’t matter. But it doesn’t matter. What matters is what are the policies? What are the regulations? What are the laws that are being out? So I think you’re gonna see some things shift, you’re gonna see some changes in the market as far as who’s profitable, and where things are going. But wholesale companies are going to figure this out corporations, organizations are going to figure out how do we continue to be profitable.

Aaron Spatz  04:32

And if you’d like to send Bay’s on hate mail and some of his emails, it’s up about two minutes, and you can get his contact info, right. Thanks for the team, man. I really appreciate that. Like one of the cool things about the SP 500, and I’m going to show just how green I am to this and that’s, that’s why you’re here. So, but s&p 500 is a dynamic listing of companies. So it doesn’t it’s not it’s not always is gonna be the same 500 companies year in year out, it’s what their companies fall off and get added on, on a on a semi regular basis. Right? Correct. Correct? Yeah, yeah.

Bezan Morris  05:09

And, again, it’s an index, right. So the idea there is that it’s just something to something to measure against the best example that I think of because this, this happened to me, right? I’m sitting in my doctor’s office, waiting for the doctor to come in, I looked up on the wall, and they had one of those body mass index charts familiar with this, right? So I look at that, and I look at my height and my weight, and it says, I’m obese. And well, wait a second. You know, and that’s, you can appreciate this right, as a Marine to be sitting there looking across a bat and going wait, I’m a fat body. Wait a second. Yeah. And I kind of mentioned that to my doctor. And she said, generally speaking, it’s an average, right? Like we’re not, I’m not looking at you thinking that you’re, you know, you have to go out on this big weight loss program, or that you’re diabetic concern. So like, that’s the example that I give, right? It’s an it’s just, hey, on average, these are what these companies are doing. And even on yours, when the s&p falls quite a bit, there are organization, there’s companies that go off there value continues to rise, because they are in an industry that continues to provide a value a great example, this year was none other than zoom. Right? What did we see with with companies like that, and, you know, the ability and tech companies that kind of stepped up when we started to shut down physical locations, like, that’s a great example of, hey, the market as a whole was not doing great. But these companies were being successful. They were providing a value. And that’s that’s the point. That’s what companies are trying to do in general.

Aaron Spatz  06:48

Yeah. Well, I mean, like you said earlier, it’s there. They have to adapt to whatever the the rulebook is, at any given time. So and given that they’re a publicly traded company, they’ve they’re laser focused on delivering shareholder value, shareholder returns, and so, like, well, crap, if the rules are changing, and we got to adapt to xy and z, then let’s do that. And so a very, business is always dynamic, but I would say even more so on a crazier level if you decide to go the publicly traded option. It’s a it’s a whole nother set of rules. It’s a whole nother set of pressure. But it’s a whole nother set of opportunity to

Bezan Morris  07:27

absolutely your your, uh, your guest yesterday. I’m sorry, his name eludes me, but the gentleman who was doing the software development, Chad Chad, yes, yeah. Um, he, he mentioned it right. You know, that word that we’re all kind of sick of pivot? Man. It’s my friend with medium right, Ross? Yeah, we’re moving the couch. We’re showing our age when we when you reference that so

Aaron Spatz  07:53


Bezan Morris  07:56

But it’s true. It’s true, right. Like you see organizations. I mean, even just me personally, here I am in my home office, which, you know, I had to reorganize and get to a sense that I could work here. Yeah, this was not a place that I was at regularly. It was it was the home office at home, but it was really kind of a glorified storage closet. I now had to actually make it a functional office. I’ve been here since March, you know, it’s only been a handful of times back to my physical office location in downtown Fort Worth. Otherwise, it’s, it’s been working out of the home. And that type of adjustment that so many people have done, has really opened some opportunities, you know, just wholesale for our economy and for businesses and how they operate.

Aaron Spatz  08:41

Yeah, well, I mean, you’re noticing I’ve noticed a lot a lot of companies across the Metroplex are adopting right right now. It changes everything subject to change, obviously, but a remote first set up right it’s for some companies that is just it doesn’t make sense to try to bring everybody in and all the other crap that you got to do to make that a a tenable option. But then there’s other companies right, like mainly anybody who’s related to manufacturing, or retail, you kind of got to be there to make stuff happen. And so they’re they’re having to adapt those things, but for industries and people that can get away with it, it’s like hey, go home, stay home. And maybe maybe we’ll do like a team huddle up to the office like once a month or way and maybe once a week, you know, so I it’ll it’ll be interesting to see what happens but everybody has had to adjust to the work from home office set up and you know, if you’ve got a four bedroom house well, that fourth bedroom just magically transformed into a home office now and I’ll let you get a bigger home and you got like all these other extra little nooks and crannies that you can set you can set up shop but now it’s like a companies like Home Depot, I think and Lowe’s and these other home improvement places, man, I think they have been cleaning up and I and I should have looked this up before we got on the air but the i I feel like I read somewhere and I’m saying Somebody can correct me on this. But I feel like I read somewhere that both those companies have just been absolutely crushing it. Because you’re home now. And you’re like, you’re staring at that like, crappy looking wall that you’ve been wanting to fix for the longest time. And now you’re actually going like doing all these little pet projects.

Bezan Morris  10:16

And it’s kind of funny. You’re absolutely right. Like, that’s what people are doing. Right? You sit around, you’re you’re, you know, especially back in that March, April timeframe, when we really didn’t have the information. We didn’t know what was happening with pandemic, we just knew we all couldn’t be out there. So you know, you saw people sitting at home going, man, I’ve always wanted to paint that room, fix this floor, redo my kitchen and let why not do it. Now. i We’re hiring, either not able to, or I’m limited on how I work. So why not put the time and the effort into doing this now? So you’re absolutely right. Like, you know, you’ve seen some really nice growth and some of that that market. And, you know, on the flip side of it, too, we weren’t moving, right. We weren’t necessarily now every market is a little bit different when it comes to real estate. But for so many markets, there was there was no opportunity to even go to a different home. So if you didn’t like the house that you were in, it’s not like you had the opportunity or the Option even to change it. So yeah, you know, again, if you’re going to be here, you might as well make it yours. Yeah, that’s true.

Aaron Spatz  11:16

That’s true all in the DFW market. And I’ve got a realtor, I think coming up here in here in a couple of weeks. But the the real estate market, though, has been red hot. I mean, so it’s like, there’s still growth here. It’s not like things. So I’ve been and I think there’s a lot of folks out there who are just watching to see like, what is what’s the, what’s the future real estate here inside Metroplex? Like, can I can I even move? And it’s for sure. It’s, it’s a seller’s market right now. And it’ll be it’ll be interesting, it’s going to be exciting to see how the whole the home office element of buying and selling homes now plays into into that whole it’s a whole journey. But yeah, we’ll move away from real estate topics. That’s not what we’re talking about. What have you seen just across the metroplex, and in the work that you do? So your your, your wealth advisor, you’re laser focused on helping people but what what have been some things that you’ve seen, like you’ve you’ve got, you got maybe a little bit of behind the scenes perspective, on the impact that the pandemic has had on people like what what can you share with me?

Bezan Morris  12:22

Know, there’s a couple really common themes that we’ve seen over the last year, and I think it’s gonna continue into 2021. The first one is people literally getting their house in order. So like, we kind of talked about that right now. But also just their financial house, whatever that may look like.

Aaron Spatz  12:39

Just real quick, just real quick, give me just hold your hold your mic out from from your better shirt. Yeah, just that way. It’s not rubbing up against your shirt. Okay,

Bezan Morris  12:45

sorry about that. Yeah. Oh, good. Yeah. So you know, you’re literally seeing folks trying to understand, hey, where where am I? Where is my home? In general? Am I set up to? If something were to happen to me, heaven forbid, am I set up to succeed? Is my is my family going to be taken care of, you know, they’re evaluating insurance needs, they’re evaluating their estate plans, making sure hey, if, again, something happened to me, you know, tragically, I’m one of those people that’s affected, who’s going to take care of my kids or my grandkids college taking care of as I plan to does, you know, is the home set up to go to the trust that we actually created? So those types of questions and that type of evaluation, I think is really kind of opened a lot of people’s eyes. And on the flip side of it, if you are one of those folks that never did those things, never took the time to set up your will never took the time to evaluate, hey, if something were to happen to me, Where do my children go, who takes care of my kids who’s going to raise them? This is a great opportunity to do it. Again, if you’re at home, if you’re stuck at home, and you’re not able to work, what a great time to be able to sit down and actually do that evaluation and kind of walk through what are the questions? Right, that’s the other piece? What are the questions even that I should ask? Probably one of the ones that comes up the most for me. And you know, there’s, we can sit and have a long discussion about it. But divorces being so high the transfer of assets from generation to generation, depending on a second or third marriage, could you know if you’re not keeping up with all of your estate planning, uh, you could unintentionally skip your kids or unintentionally lose the control of where where you want your assets to go. So I think you’re just seeing a lot of folks take a lot more time to really understand that and to really focus in on are we set up heaven forbid something should happen to us? It’s kind of a it’s a pessimistic in some senses way to look at life, right. Like we’re, I think, in general, you know, the type of people that we are like, we’re actually We always look to the right side, we try and find the opportunity, however, you have to be prepared for that.

Aaron Spatz  15:05

And that bus hits me as across the street are

Bezan Morris  15:08

exactly, exactly. You know, the saying I like to use I stole it from my father in law was if you’re driving down the street and you get hit by the Bud Light Truck, what’s gonna you know, and then you go from there and usually people laughing Oh man. Yeah, you know, most men say yep, that’s the way I want to go. Go. That’s that’s gonna be it. But But yeah, it’s true. I think that’s really the biggest thing is that this, this pandemic, and this last year as a whole has affected so many people to take a better look at where they are and making sure that they put the things in place to protect those things that they have and the assets and the people that they hold dear.

Aaron Spatz  15:46

Wow. Well, it’s funny because it’s like this opportunity for people to focus on just the business of their own family, or their own home their own house. And so it’s just funny, because we’ve just got done talking just a few minutes ago about home improvements, like the actual physical home improvements, or renovations and things that people are doing, but then also getting getting their their own finances in order getting their own estate planning in order getting all this other things done that people have been people have been putting a lot of this stuff off for a long time. And I guess I don’t know, maybe it’s the fact that they don’t have to commute 45 minutes to an hour one wage day to work. They they could actually think about some of this stuff, you know?

Bezan Morris  16:23

Yeah, yeah, that’s exactly I think, yeah, it’s, you get caught in your own thoughts, right? If you’re, if you’re the sum of those things you’re not able to do. And for some people, they’ve taken that opportunity to kind of get some things in order and make sure that it is set up. And they may never need it and knock on wood, the majority of people will never need it for decades. However, making sure that you’ve got it in place is key.

Aaron Spatz  16:48

Yeah, for sure. Well, like let’s then let’s kind of like zoom out ever so slightly, because we we like teased it at the very beginning about what you do and what you’re all about. But, like walk me through again, like, what do you do? And like what breadth of services do you provide people?

Bezan Morris  17:03

Gotcha. So I’m a comprehensive financial planner, the industry as a whole, when you look back in our history, you know, we were we were brokers, we had to buy ourselves something in order to to make a living. I don’t do that I like to do comprehensive financial planning, which basically means I want to be able to look at everything, I don’t want to take all aspects of a client’s life, make sure that I understand it, create a plan, essentially a roadmap for them, and then help execute that plan. And for some people, that means holding on to something, right, they’ve had a high concentration in a particular company that they used to work for, well, that may, we may want to hold on to that if the company is going to continue to grow and provide those assets. For other people, they may be closer to retirement. So maybe we have to take some risk off the table and diversify their assets a little bit differently. But I want to take that complete view, and then incorporate all those other things that we talked about, I’m not an estate attorney, I will not write a will I will not write a trust. However, I want to make sure that we are incorporated in that process. So that if we’re setting up an investment portfolio, it’s aligned with your trust, it’s aligned with the people and the places that you want your money to go. I am licensed to sell insurance. But I don’t focus on insurance sales. However, having certainly insurance elements as part of your overall plan is critical. You want to be able to protect those assets and make sure that you’ve got the right protection and the correct amount. Right. If you’ve if you’ve got $5 to your name, there’s absolutely no need to have a $2 billion life insurance policy. You’re overpaying for that you’re over insured, but let’s go look at that. Let’s make sure what what makes sense for you. And it’s truly it’s truly customized to everybody’s got their own story. You and I have talked a little bit about this, right, just in our own journeys and our own professional lives, like what you do as a father and a husband is a very different focus than the guy who lives next door, right? Who’s the W two employee that gets up and goes to the manufacturing job every single day. There’s nothing wrong with that. But his goal and his focus and his and the things that he’s aiming for are going to be very different than yours. Sure, not someone who’s got more of that entrepreneurial spirit who says hey, I’m willing to, you know, jump out and take risks or run my own company and what does that mean? So, you know, being able to actually customize someone’s plan and their roadmap to get them where they need to go. I think that’s really kind of the if you were to sum up what it is that I do that would be it.

Aaron Spatz  19:40

No, it’s great. And thanks thanks for not going like too geeky and off and off the deep end like that was that was great. When we get back from the break what I like to talk about would be what are again without like revealing anything like super sensitive but like are there any Just trends that you’re seeing, like, Are there any gaps that you’d notice? Or like, I mean, you could pick on me, you could pick on just people in general across the metroplex. But like, Are there common gaps in people’s planning as it relates to their, you know, their financial long range planning? Are there things that are just frequently forgotten about that you’re just seeing time and time and time again, kind of springing up, you’re like, man, we need to address this. So we’ll, we’ll we’ll talk about that here in just a second. This show is made possible by amazing sponsorships. And so I’m incredibly grateful for the folks that sponsor the show. And so our show is brought to you today, by first response, AC and heating, they are a more of a Fort Worth focused business. Phenomenal, phenomenal people. So I and I’ve shared the story, probably a few too many times now at this point. But when you have someone show up to your front door, and there you need help with electrical, or plumbing, or AC, in this case, a lot of times they’re going to know more about and I sure hope they know more about your problems than you do. But the problem is it’s very, it can be difficult to understand what’s going on what I preached about, about these guys, what about first response, and my time working with them, and they serve as my own Heating and AC needs, is they will take the time to actually explain to you what the problem is. Maybe like maybe you had a hunch or a theory as to what was broken, or maybe what you did to try to fix it or break it even more, maybe in my case, they will, they will absolutely explain to you what’s going on, they’ll take they’ll take care of exactly what the problem is, they’re not going to try to upsell you, that will maybe mention a couple things that you could do if you would like to do that. But there’s is like literally, zero pressure. It’s not this commission sales pitch. And I love that I hate being pitched and sold and felt pressured to do the entire laundry list of things that I need to do. And so but I appreciate being made aware of it though, right? So anyway, if you have any heating an AC needs, and you’re a little bit more closer to the fore side of the house, definitely give these guys a call. Phenomenal people. phenomenal company. So back to the action. So right, right before we broke, I just wanted to cover like, Are there any? Are there any just major trends, macro level stuff that you’re seeing time and time and time again, that people are? Maybe they’re, they’re missing? Or they’re forgetting?

Bezan Morris  22:15

Mm hmm. There’s probably two in general when, like, specifically action items that I see a lot of. And the first one you actually just kind of talked about. So it’s the do it yourselfer? It’s like, hey, you know, I handle it at you know, this online trading platform, whichever one that they chosen, and I do my own? I don’t I don’t need somebody like you. Yeah, there’s a lot of people who are very successful with that. There’s also a lot of folks who are missing, they’ve got some gaps in there, if you are completely 100% in one type of sector, technology, right? All I do is buy technology companies, you may be missing an opportunity if technology starts to struggle now this year, and last couple of years technology has not struggled however, could it right? What is the research behind it? What’s what’s the point that you’re going to step away from that and move into something else, you know, doing that type of analysis? Energy this year, you know, had a rough year it’s starting, it’ll, you know, there’s some, there are some indicators for that sector to have a much stronger 2021. But if you were nothing but an energy investor over the last year, I mean, you kind of swung and missed it was it was a rough year. So there’s that piece where I think sometimes we much like a lot of things. It’s our own confirmation bias, right? I’m comfortable in x, therefore that is all that I will that I will follow and trends. So that can be dangerous. When you when you get to the person who doesn’t have a plan, where where is the point where you’re going to take all of your earnings and go, Okay, I’ve made enough, it’s time to move away and go to something else. I think the other piece that you see, very specifically, which is probably the most common one is when somebody sits down and go, Well, I don’t really have anything. So it’s it’s not worth talking and then you start to dig a little bit more and you realize, yeah, you’ve got about six old 401 K’s that you haven’t touched in your career. And they total up to six in some cases, seven figures. Wow, that person goes, Oh, I just like, you know, I never even remembered that I had that. And sure enough, you’re you know, that’s a great client because they understand the concept of putting money away and not touching it for the retirement purposes. So hey, maybe that goal is already taken care of. Now we can do some other things. Yeah, the addition on the house, the new car, the second home that you’ve always talked about doing maybe we’ve got some more flexibility that you you’d be able to do that. So I think that’s probably like if I was to say the two things that I see a ton of is folks not understanding that there is money out there that they’ve got, and that they can actually start being a little more creative. And, you know, just investing more deliberately, I think, is the best way to put it. You know, it’s not that you’re, you know, making money is not a bad goal. But what are we making money for? What are we trying to do? Right? If you Aaron, say, hey, and someday I would love to start, I would love to be able to write a seven figure check to my church. That’s a goal right now we’re doing it for something versus why just want to see the number get bigger. Right. Right. And that that that former group that you know, the ones who have that bigger goal, those are the folks that I love working with, those are the ones that I want to work with, because we’re shooting for something we are goal based, we are going after it and actual goal and actual objective. Versus Hey, I just want my number to get bigger.

Aaron Spatz  25:59

Yeah. Well, and it’s a it’s it’s funny what you said too, because people will jump from company to company and they’ve started a 401k. And they may or may not have done a rollover. And then so I can only imagine the kinds of conversations you have are like, holy crap, I didn’t touch it. I haven’t touched it. Like, when, like when when you said, you know, they, they, they don’t mess with it. Like they they set it up, they get it going, but they don’t touch it. I mean, that’s taking not touching it to a whole nother extreme, because it’s like forgotten about for five 610 years or so. Yeah, yeah, that’s insane. Man,

Bezan Morris  26:32

for they didn’t even think that they can move it. They were like, oh, no, that’s what that company it has to stay there. Yeah, no. You know, who’s, you know, honestly, some of the worst with that are veterans. Okay. The TSP, the Thrift Savings Plan? Yep, that’s essentially a 401k. When you leave the service, you can roll that you can now move that into a traditional IRA and start investing it in, in different ways, right? Whether it be mutual funds, ETFs, whatever it is, you have, you can set it up to have that choice and be able to do those things. So like, it’s out there, you know, and it’s, it’s, it’s fascinating to me, when I sit down with a couple or with a family, or even a business owner that says like, oh, I don’t have anything, everybody’s got something, and everybody is worth the conversation. So everybody is worth having a cup of coffee, and at least talking about it and trying to figure out okay, what makes sense for you?

Aaron Spatz  27:33

Why did you get into wealth advising? And why do you enjoy? What did you do?

Bezan Morris  27:42

I got into this, because I got to work with an advisor years ago. And just personally and you and I like I mean, you kind of know my story. Like, we were in a rough spot financially, it was a it was a rough place about 1012 years ago. And that advisor really kind of helped put me on a path and showed me Hey, this is where where it can go, this is what you’ve got the potential to be able to do. And even though I was always kind of interested in the markets and investing, this was the first time that I actually sat down and put a plan together and really understood what it means to be an advisor and put that to work. So just my own personal experience helped to drive on that path. And what I love most about it is being able to work with a family and see the light turn on, let them know that hey, we’ve we’ve got a path, we’ve got a way to, to get where we really truly want to go. And that’s the best part, right? I have, I always tell people like I’ve opened accounts, they’re very small that a lot of advisors would wouldn’t even look at. But the person who was opening it, the person who had that goal, they believed in the process, they believed in the plan they were going to allow they were going to work together to get them where they wanted to go. I mean, that’s just I mean that’s that’s service to a tee right? And that’s, that’s what it was all about is you know, being able to love on clients and you know, help them get where they want to go.

Aaron Spatz  29:18

Wow. Well and for those that are listening for watching, so if you’re if you are watching this, I’m going to make sure that I throw on the screen right here. The link to Sobeys on was a guest on my other show the Veterans Business Podcast, you don’t have to be a veteran to watch the show. It’s it’s a phenomenal, phenomenal show that cover stories of veterans in business. So he joined me in season one so it is an audio format. You can listen to it anywhere you get your podcast, but you can you can watch it slash but just listened to it on YouTube as well. But I’ll have a link for that there. If you want to pick this up on Apple or Spotify or any other audio platform. Just search either search for my name or search for the Veterans Business Podcast and then Based on you were you were season one episode like four I think it was. And so I can’t believe I remember that. But but no but so if you want more based on tells a very compelling very emotional very raw story and and I don’t know if we have time for you to repeat that here so I will I’ll point is phenomenal story so I’ll just I’ll point people to that I’ll purposely tease that out so people go check that out.

Bezan Morris  30:26

I didn’t have a beard back then. So you didn’t want to do video, you know, grow this in order to show up on screen.

Aaron Spatz  30:33

You. You finally made the cut, man. I don’t know about that trash that’s hanging up on your wall though. I keep I keep seeing this this thing in the in the back. Like what? What is that?

Bezan Morris  30:43

So my mom and dad immigrated from India, and they moved to Pittsburgh, and my middle brother, I’m the youngest of three, my middle brother and I were born in Pittsburgh. And we have taken the black and gold with us everywhere we went. I grew up in New Jersey. So I was surrounded by giants and jets fans but I was a kid in black and gold. You know being being active duty, the Marine Corps running around the world, you know, taking a Terrible Towel everywhere you go. My oldest brother, in fact was that his first command he was a CEO of the USS Taylor, which was a frigate down in Jacksonville, Florida and Mayport and my oldest brother retired 30 years in the Navy the other one is still in the Navy 26 years this year. And but my oldest brother on the day of his change of command as we were walking off the ship, you know the brow of the ship so basically the ladder that comes off the ship to the pier. On the side of it every port that they had gone to he had a huge banner that said you’re in Steelers country that exact the same banner that shows up on you know, Heinz Field that was on his ship everywhere that so we have this great picture stay out in front of that. And I’m so sorry. Oh yeah, man, my kid born in Arizona, both of them they were black and gold. They even here living in Fort Worth, like it’s so much fun on football Friday when they were there their Steeler stuff and take you to the school like

Aaron Spatz  32:16

oh, yeah, yeah, they’re there. They’re just there’s begging for controversy. So speaking of controversy, right, so my, so shout out to my pops. So he’s a he’s a diehard Browns fan. And he and he shares he shares with me the the heartache of browns fans, from the Cleveland Cleveland area, right. So it was it was amazing. I mean, I I’ve got to I’ve got to rub it in when I can because I don’t know how long it’s gonna last right? So brows managed to pull ahead of the Steelers last week in top and 24 to 22 getting themselves into the playoffs. What’s crazy, though, is they literally going to play again the very next week, so they’re playing on Sunday. This is what this is the wild card game and sports like here we go. Yeah, but this time they’re playing in Pittsburgh. Not quite sure what’s going to happen but yeah,

Bezan Morris  33:10

we’ll have all their starters in you know, there was that you know, it’s

Aaron Spatz  33:13

Cleveland came to life this year, man like they I don’t know where they’ve been, but they decided to show up this year and actually play some ball. I’m not I’m not a diehard Browns fan. You see my own paraphernalia? Oh, actually, you see it right below me on screen in my little my burned in background that I so happen to accidentally locate the the Raiders there. So, I mean, I’m a Jon Gruden fan, let’s just let me just be abundantly clear about that. So I I love the dude’s antics. And I love seeing his his whole story, right? I’m stepping away from coaching in the broadcast booth for like, eight 910 years. And now he’s coming. You know, he came back and I think this is his third season. And so I’m just I’m rooting for the guy. I want to see him do well. And then obviously, obviously, we got our hometown cowboys. And man I don’t even know what to say. I mean, like, what’s your thoughts there? I do but it’s not appropriate for worldcast Give me Give me Give me like the PG PG 13 version of what you’re thinking about that.

Bezan Morris  34:14

So so you know I’m a storyteller bad so you gotta get a story to it yeah no showing up in the Northeast right like surrounded by Giants fans and everything so and you know, I was again dating myself here I was alive before Direct TV. So literally like you had you had the three games that were broadcast and that was it. So watch a lot of giant games so became you know, this this pseudo Giants fan as well following them and you know, just grew up hating hating the rest of the NFC East and everywhere I’ve gone right like those Calvin, those thinking Cowboys fans, oh my goodness, like, you know. In fact, Arizona before the Cardinals got there, you know, 20 some odd years ago, they used to borrow Cast all of the Cowboys games. So Arizona has this huge cowboys following out there. You know, again, America’s team, right? They were so that that portion of the country got Cowboys fans look huge continue to Cowboys fans out there. And when we were moving here, my daughter was four at the time. And we told her we were moving to Texas. So she asked us well, daddy, that the Cowboys are there. I said, Yeah, she was both. That means it’ll be Cowboys fans. Yet. Yes, sweetheart. She kind of looked at me. And I said, Don’t worry, you’ll learn how to fight. You’ll be fine. And yeah, she’s Yeah, you know, we still laugh about that to this day. But yeah, it’s

Aaron Spatz  35:47

so again, I’ll say if you’d like to send any hate mail to the very beginning of this program. We’re gonna, we’re gonna Well, no, I know what I know. Amari Cooper underwent ankle surgery. So he’s. So we’ll see. We’ll see what they look like during the offseason. There’s a whole bunch of other stuff that I’m sure is happening behind the scenes. I, I follow them close enough. Because it’s like me and I, I’m not a diehard Cowboys fan. So maybe, maybe I’ll get some hate mail. But but I do. I mean, it’s kind of like it kind of rubs off on you, though. Like, yeah, if you’re long enough, you like I follow them? I obviously would like to see them do well, like who wouldn’t want their hometown team to do at least somewhat somewhat well, but I mean, I’ve got other loyalties, just like you do. But that’s why I want to bring up like, man, once I there’s like some trash on your wall that you have had a chance to take out. So just I just I just want to pick on that for a second. Oh, man. Oh, man. Yeah.

Bezan Morris  36:45

Yeah, it and you know, that organization as a whole, when you look at sports organizations, and the value that they bring, it’s phenomenal. And I don’t know, if you if you have you had the opportunity to go down to at&t Stadium and see areas where I mean, what a beautiful stadium and what they’ve done down there. So you got

Aaron Spatz  37:05

live, you’ve got you’ve got the new ballpark, right? I mean, it’s everything’s sandwiched, right, like, right there with each other within, within a couple blocks. So it’s like, I mean, you got sports, and you got six flags, right, right up the street. I mean, it’s, I mean, it’s a pretty good, it’s a pretty good spot to be, to be in the Metroplex. So let’s, so let’s like shift back over to, like, I had a question for you on the on the wealth advisory side of stuff, but, you know, like, if there’s folks out there, because I think there’s a lot of people that see this as a and I mean, I’m just gonna say it bluntly, and it’s probably gonna offend some people. But I, there’s a lot of people, I think, that see this as like a, in many ways, a get rich, quick thing. And I know it’s not, I know, it’s not, but there’s a lot of people who see it as some opportunity to go do something else. And if man, if I could just grow my book of business big enough, then I’m gonna, you know, be swimming in pools of cash. And there’s so I’ve noticed, I only say that, because I’ve noticed a lot of folks, without naming anybody, obviously. But I’ve seen people enter the space, and I’ve seen them exit the space. And for whatever reason, right? And I’m not saying they’re all in it, because bunch of greedy people, I think there’s, I think there’s definitely some challenges to what you do. And I think there’s gonna be times and people are just like, man, enough is enough. I loved it, it was a fun run, I’m gonna go do something else. And so again, I want to be careful there because I don’t I don’t want to I don’t want to insult anybody. Because I think I think there are people out there that give it their best shot, or they want to go see what it’s all about what it’s like, and then a few years in, they’re like, You know what, this really isn’t what I thought it was. So I kind of set you up here. For those that are considering starting starting a career like so you’ve, you’ve been in this now for a few years? What advice would you have for those that are maybe considering the idea of becoming a wealth advisor?

Bezan Morris  38:58

So first off there is, I don’t want anyone to think that you have to be this Wall Street whiz kid to be able to go do this. You can learn the products, the knowledge that’s all teachable. And honestly, like, you don’t have to be an advisor to be able to do that, you know, thank goodness to the internet, you can go research, successful investment strategies, and there’s enough books and how to documents out there and websites and blogs that people can be very successful with this. So I don’t want I don’t want someone to say like, Well, I’m not math oriented, or I’m not, you know, numbers guys, so or gal and I can’t you know, that’ll never be me. I was a political science major in college, right? I wasn’t a math major. I wasn’t an economics major, like, you know, and if you were to sit down with a bunch of advisors, you will hear that that it is such a varied community of folks that that do this. I think the ones that are if you’re getting into Do it for the reason to truly service people and to be of service to your clients, you’ll be successful. Some practical things that I would say, you know, really take a good analysis of who you are, who you know, and who you’re going to work with. I think that’s probably when you when you talk to some advisors that struggle, or are completely out of it, or completely out of the industry have decided to go away, there wasn’t really again, I hate to use this word, but there wasn’t really a plan. Who am I going to work with? Who are the people that I’m really, really truly going to serve us so happy, I’m just gonna blast everybody on my phone and something like I’m going to get turned up, right, cuz cuz that works. Yeah. Right. You know, um, you know, have have a little bit of definition around it. Right? You know? And that’s, and that can be said for so many things.

Aaron Spatz  40:59

Absolutely. No, you’re, you’re dead on. Yeah. And I have talked about

Bezan Morris  41:03

right, like, you know, the transitioning vet that says, I’ll do anything, I’ll go anywhere, I’ll I just want a job, I just want a paycheck, it’s actually not helpful in trying to help that person find out where they want to go, because there’s no direction. You know, if do you want to live in North Dakota? Or do you want to live in North Carolina, there’s a big difference there. You know, and you’ve got to be able to define something like that. So I think if you’re a new advisor, I would definitely say that right, you know, take the opportunity to really, to at least put that preliminary framework around, Hey, these are the people that I want to work with. These are these are the folks that I want want to, to be able to serve. And then the other prep piece of practical advice, which was actually advice that my advisor gave me, his save up a big rainy day fund, because it’s gonna take a little while, right? This is not this is not a get rich quick, I’m not, I’m not the Wolf of Wall Street, I’m not calling somebody figuring out how to make 10 $15,000 in a day, that’s not what I do. You know, this is the long game. So we are taking our time and putting together a plan and executing a plan. And sometimes it’s going to be a little painful. And sometimes we’re gonna, you know, have to take a deep breath and just kind of hold on as the roller coaster goes up and down and what that looks like, right, but you know, you you’ve personally got to be prepared for that. So, again, if you’re, if you’re a paycheck to paycheck person, you know, before you go make this leap, you want to pile up, you want to make sure that you’ve got a little bit of safety net, you, you want to make sure that the boat is pulled over to the dock really close before you go do that, because it’s going to be a little bit of a bumpy ride. Yeah, so I think I’ll be prepared for that.

Aaron Spatz  42:49

Well, that’s I mean, that’s, that’s solid words of wisdom. And I don’t care what industry or business you’re in, I think, I think a lot of what you just said, applies across so many different, so many different endeavors. So if you’re an entrepreneur, if you’re considering launching a business, or you are considering starting a different career, it doesn’t have to be, it doesn’t have to be financial advising, it could be some other thing. Like you better have a plan. But I think especially with what you’re doing to base on, I think, what you’re what I kind of hear you saying, and this isn’t I’m not trying to put you on the spot or interview here, like in a very weird way. But like, You got to get your own crap in order, right? So it’s like, if you’re going to service other people, like you kind of gotta have some of your own stuff put together too. And like, have your own house set up, right. So like, You got to eat your own advice, and which I think is which I think is crucial.

Bezan Morris  43:40

my branch manager when I was interviewing at to look at different firms, and you know, my branch manager sat me down and said, you know, hey, I’m, you know, and he asked flat out, like, you know, what does this look like? What is what does the reserve look like, you know, help define it, put the numbers to it. And he flat out said, it’s, you know, it’s really hard to build your business as a financial advisor, if you’re delivering pizzas at night to keep the lights turned on. Right? How would you know, how would you feel if your financial adviser was also the guy who dropped off your dominoes one night? Right? You wouldn’t have a whole lot of faith in that person. Right? And so, you know, making sure that you are set up and, you know, he was just flat out and honest with me and said, like, you know, you got to make sure that you’re ready to go, as you said, because you’ve got to be able to live this you got to live this life to be able to really talk to folks and be and be impactful. Right. You know, everybody’s got great advice when you know, I think it was Robert Kiyosaki. I don’t know if you’ve ever read any of his stuff, the Rich Dad, Poor Dad, and he talked about, you know, real estate development, and he knew it was time to get out of real estate in that 2006 2007 timeframe. When the person bagging his groceries was giving him real estate advice. Yeah. And it’s like, huh, I think that that to him was kind of the indicator. So yeah, you’re absolutely right, you know, getting getting things in order and being able to do that plus, it will also just give you peace of mind, if you’re starting a career or anything, right? If you’re starting a business, if you’ve got a little bit of that cushion, and you’re not worried about how the lights are going to get turned on next month, it gives you the opportunity to be able to build the business the way that you want. I think I even I don’t know, if I shared this one with you, I have a friend who started one of the last mile services with Amazon. And he talked about, hey, you know, they talk about $10,000. And you can start this business. And that’s right, you can do it. But he went into it with I think 30 or 40,000. And said, it just allowed him to make decisions that he didn’t have to wait on someone else for it allowed him the flexibility to be able to go after something. And the example that he gave was cell phones, you know, I had to go buy cell phones for the firm, whoever the provider was, and you know, Amazon has a contract with them. And they tell you only buy 10 at a time. And he thought, well, that’s kind of silly, because I’m going to be hiring 12 to 15 drivers. So if I’m only buying 10 at a time, I’m always going to have a deficit. So he just went out and bought 40. He said, I’m gonna put the money out and buy 40. Now, that way, I don’t have to deal with it down the road. And then he always had that buffer. So when he hired another 10, he just went out and bought another 15 or whatever. So he always had that buffer. So now when his full complement of drivers came on, he never had a gap. So he was able to serve his routes faster, he was able to pick up those, like that decision he could not have made had he not had the cushion to be able to do that.

Aaron Spatz  46:51

Yeah, that’s a solid, solid. And it’s I mean, everyone has everyone has their decisions to make as to how much cushion they need. And what does that look like? How much? Or is like, how much runway Are you going to give yourself and and I’ll say back to the point that you made and and I agree with you in, in concept, right? So like the the optics of having my financial adviser drop off pizza or, or serving me breakfast at Denny’s or something right is probably not that good. I could not agree with you more. My entrepreneurial side. I mean, he’s coming out and there’s like cheering and like screaming and yelling. I’m like, Dude, you go get it. Because you’re hustling and you’re believing you’re holding on to your dream. So like what this whatever it takes attitude. But I couldn’t agree with you more though. It’s like you’ve you’ve got to be able to set the example that I mean, we’re talking leadership. Yeah. And Ising you need to set the example. And so like, maybe you got to go do those things. But maybe you just don’t broadcast or maybe you work on the other side of town or something right. Real quick, because you brought it up, and I want to see what you think of this was Wolf of Wall Street. Has that has that had an impact on you? I’ve been serious man. Like, like that movie came out. And I feel like I feel bad for some people. It’s like, that whole industry now is got this crazy reputation. I mean, it was already there. Let’s just be real. Yeah, but there’s just put it in HD. So like,

Bezan Morris  48:21

I as I was starting my career, I mentioned that somehow my wife said, you know, I’ve never seen that movie. So sorry. Let’s watch it, you know, like you either see it, it’s an energy. You shouldn’t see it know about it, about a minute into it, I paused it, I looked at her and said, I just want to be clear, this is not what I do. Like, let’s just be clear.

Aaron Spatz  48:41

Were you not telling me what’s going on?

Bezan Morris  48:43

Going on? Yeah. But our industry as a whole had went through that type of Renaissance. So like you, you saw that if you again, you know, that’s just one example when you when you look at the Wolf of Wall Street, but like, there have been examples of that of folks taking this position of trust and abusing it. So the the financial services industry as a whole has really gone through its own type of evolution. You know, 20 3040 years ago, the broker was the model you were buying, you were selling you were on the phone, you were convincing people to, you know, buy whatever the stock of the day was and then selling whatever the stock of not the day was and and being able to do that. This, this movement towards advising and truly being an advisor and looking at it holistically has really come out of all of that. And it allows folks like me to not have to be on the phone cranking out or you know, on the computer just looking at you know, where’s the right Buy Sell point. I love sitting down with a new client and tell them that Look, if I’m sitting at my computer trying to determine, you know, the absolutely right Buy Sell point for this particular stock that we’re purchasing. I’m not leveraging all of the resources. And the other team that I’ve got available, there’s analysts that do this 24 hours a day, let’s leverage them to do it, let’s, let’s take a more holistic, a more strategic approach to actual wealth building. And that movement really happened. Gotcha is probably about 1520 years ago, where you started to see that be more of the more of the focus of what we do. And then recently, you’ve had things like regulation best interest and the Department of Labor’s you know, Reg VI, all these things coming out that are, I don’t want to say forcing us but bringing more to light, what the expectation should be for someone like us now, that all that being said, there are still really good brokers out there, they’re still really good advisors that do all that other stuff that we’ll do, we’ll say, here’s the portfolio that I create, that I manage, here are the things that I believe in, here’s the research that I do, and here’s why I buy and why I sell at these points, and they’re very successful at it. I’m just not that guy. I’m not, that’s not my jam, my that, you know, there’s people you know, even in our office that are very good at that. I’m happy to refer folks to them and let them work on that there’s option traders and commodity traders. And they’re, there’s so there’s such a wide breadth of things that are available to a person today. I would say if you’re out there even just wondering, Hey, is this the right person for me to interview, go figure out who’s the right person who’s the right mentality. Right now, everything that I’ve said, there’s one of your listeners who’s going out and that’s boring. It’s slow. It’s not like I don’t want to work. That’s okay. I am okay with that. However, there is someone out there that will work with you and will help you get super successful will help you get where you want to go with with your own wealth building. You just got to find the right one.

Aaron Spatz  52:07

Yeah, no, that’s good. Man. I was one I was just curious, cuz that that that movie, definitely, I think there’s probably people that rolled that roll up on their advisor, the next week after the movie came out. It’s like, oh,

Bezan Morris  52:19

yeah, let’s talk about this.

Aaron Spatz  52:25

I know. But, you know, I think it’s important for folks to interview and get comfortable and get familiar with, like, who they’re working with, it should not be this transactional thing. I mean, you’re inviting somebody in, to literally, it’s like, in my opinion, like next to next to bedroom stuff. It’s like we’re talking finances, man, this is like, this is what powers your life. And this is what is moving things forward. This is where you can’t hide, right? It’s gonna, it’s either gonna be pretty or it’s not. And if it’s not, you can make it look a lot better. And you can clean it up. And, and so you want somebody you can trust and you want someone that you can sit down with. So it’s, it’s kind of a big deal. Like, you should probably kind of like the person that you’re working with, you should probably trust that person that you’re that you’re working with. So I think that’s, I think that’s great advice. And, again, I think that applies to a lot of different forms of business, whether it’s consulting, whether it’s finances, whether it’s whatever, there’s, there’s 1000 different things, 1000 different examples that we could talk about where it’s, you need to interview and get comfortable and get familiar with who it is you’re doing business with. So,

Bezan Morris  53:28

absolutely, absolutely. Yeah, we’re in a relationship, right? We’re in a relationship business, right? Um, you know, and that harkens back the first time I heard even something close to that was as a as a young lieutenant in the Marine Corps. I had a boss who said, What business are you in? So of course, you know, young Marine, oh, we’re in warfighting. You know, we’re in we’re in the killing business. We go after bad guys. And he looked at me and said, now you’re in the people business. And the minute that you truly understand that and, and embrace it, things will open up for you. And you know, it’s one of those things that you just never forget. And it’s I’m in the people business I’m in I’m in a relationship business. I’m here to work with folks in the long run. You know, it’s it’s not a it’s not a transactional thing. It’s a relationship.

Aaron Spatz  54:18

Yep. Man. Solid. I think that’s a great thing. That’s a great place to to wrap it up from there. But how can how can people again, they already know how to get ahold of you? But let’s let’s cover that one more time. And we’ll we’ll leave it there. Yeah.

Bezan Morris  54:32

I appreciate you throwing up the the website and Twitter address and everything. But honestly, the best way is that top one there, the LinkedIn, just reach out to me on LinkedIn. If anyone just wants to have a conversation would love to. That’s the best way to get ahold of me. I really appreciate the opportunity to be here today. Aaron, it’s been a ton of fun, been great talking to you. And yep, there’s my email address, please. You know, send me an email. We’d love to hear kind of. Sure. Yeah, I’m gonna get all the time. All boys hate mail now Yes,

Aaron Spatz  55:01

yes yes send them the hate mail send him some love mail to you guys because you like for those that are listening watching you you can tell based on the solid guy as much as I’m gonna bust his chops and he may he may have made some poor decisions as it relates to his his place of birth and all those things and sports variations but you know, still love the guy. I think I’ll keep them around for a little bit but know that based on man, I just again I just want to thank you. It’s been a blast as always my friend.

Bezan Morris  55:29

Yeah, it’s been awesome. Aaron you have a great day, man. Have a fantastic, fantastic weekend.

Aaron Spatz  55:34

All right brother. Same to you.

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