Business Innovators Radio - Interview with Stuart Berg Financial Success Consultant

Episode Date: September 6, 2023

Stuart is a highly accomplished financial success consultant with a strong background in strategic business and a passion for helping families achieve financial independence. With an MBA in Strategic Business from Hofstra University, as well as a computer science degree and behavioral science minor from NYIT, Stuart possesses a unique blend of analytical skills and an understanding of human behavior, enabling him to provide holistic financial guidance to his clients.Having entered the financial field in 1999, Stuart has accumulated extensive experience and expertise in the industry. He has dedicated his career to assisting families in becoming debt-free, protecting their income, and ultimately achieving financial independence. By conducting complimentary, customized, and confidential financial needs analyses, Stuart gains a comprehensive understanding of his client’s financial situations, allowing him to develop tailored strategies and recommendations.Throughout his career, Stuart has consistently delivered exceptional results for his clients. Notably, he has successfully guided individuals toward maximizing their life insurance coverage and cash value, surpassing initial projections by substantial margins. Additionally, Stuart has assisted clients in creating personalized pension plans that ensure a lifelong income stream, safeguarding their financial security during retirement.With his commitment to empowering families and his proven track record of delivering impactful financial solutions, Stuart has earned a reputation as a trusted and respected financial success consultant. He continues to make a positive difference in the lives of his clients, helping them build a strong financial foundation and achieve their long-term goals.Learn how to make more money and get a complimentary, confidential, customized financial needs analysis and go to https://stuberg360.comInfluential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-stuart-berg-financial-success-consultant

Welcome to influential entrepreneurs, bringing you interviews with elite business leaders and experts, sharing tips and strategies for elevating your business to the next level. Here's your host, Mike Saunders. Hello and welcome to this episode of influential entrepreneurs. This is Mike Saunders, the authority positioning coach. Today we have with the Stuart Berg, who's a financial success consultant. Stuart, welcome to the program. Thanks, Mike. Hey, so I want to dive into what you do for your clients to help them achieve financial success.

But first, let's start with your background and your story. How did you get into the financial services industry? Well, you know, that's actually a pretty interesting story. It's actually a journey that started when I was actually 12 years old. You know, I remember when computers were first coming out and I wanted to get a new computer. So I actually got a paper route. And then in the few years, I had moved on to, working in the supermarket for supplemental income.

And you know what's funny is after high school, I went right to college. And when I was in college for a New York Institute technology for computer science, it wasn't really relating to business per se, but it led to my interest in computers. And I said, you know what, when I'm done with school, I want to get into the computer industry. So I also got hired with the post office at the time and started working with the government when I was 23 years old. And it's funny because when, at that time, I was not doing anything computer related with the post office.

But when I was 29 years old, I was approached by a friend who asked if I was interested in earning extra money with a business. And I was intrigued. I was like, oh, you know what? Maybe I can use my computer skills or whatever. Yeah. So I took the actual opportunity to start my own business within a business. and I quickly moved up the ranks to becoming district manager.

And the funny thing is that was with finance, which had, again, nothing to deal with computers. Yep. You know, I was like, wait a minute. You know, now I'm in the financial industry, but how can I use computers? So I decided to make spreadsheets and that kind of stuff. But my first, I guess, bump or conflict arose

when I started working with H&R Block with taxes. and the thing is you need, of course, a lot of licenses in the financial industry. You know, you need a life license, security license, so and so forth. And when I was working with H&O Block, they were trying something new with securities where we refer people for securities, but if you're licensed, you get paid. Yeah. In the securities industry, that's a no-no. You can't work with two companies because it's conflict,

the interest, and a few other things. So I was forced to make a choice. So I chose to quit the business and for the security of the paycheck with H&R Block, which effectively ended working in financial industry. But then around 2013, my former regional vice president from the business contacted me to reconnect. And just to find out how I was doing, et cetera. And after a brief conversation, he was asking if I wanted to restart my business, which I said, yeah.

It was no more conflict with H&R Block. That was just a trial program that they were trying. So there was no issue with that. And I said, you know what? Let me do this. But at this time, now it moves slowly because now I was, what our group, our agency calls a secret agent where I was just quiet and I didn't talk to anyone. I didn't know any, I didn't tell anyone when I was back in business. But I did do my own needs analysis and I did help myself, but that's pretty much as far as it went.

So around 2017, I went to a convention and I said, oh yeah, you know, this is why I'm in the business to help people. And in addition to that, around 2018, my wife said, you know what, you should go back to college, get an MBA and that I'll help you with your finances, etc. So I went to Hofstra and I got my MBA degree, which was really exciting. So currently I find myself back in that district leader position that I was in years ago. But this time I have my sights on becoming regional vice president myself and opening my own office so that I can train and recruit others. And they can get into the financial industry with me. And that's pretty much my journey today. Yeah, that's amazing.

You know, and it's neat that you probably took things you learned from each one of those steps and used it as a, a, a, springboard to the next step. And it's a little pivot here and a little pivot there. And I think that's really powerful. So what you're doing currently, talk to us a little bit about how you serve your clients. What is the solution that you're providing for the problems that they face? Well, you know what's funny on that is you look at these Costco's and BJs and these megastores. When you think about it, I'm like that. I'm a one-stop shop for finance with home delivery. So I help family earn more income, become properly protected, debt-free, and financially independent. So I know you might get like, well, what does that mean?

Well, basically, you know, let's say, for instance, I was going to help you. We'd make an appointment. I'd come to your house or if that's not convenient, I'd zoom with you. And then we'd take a deep dive into your financial documents. So I'd look at your current insurance documents. I'd look at your current retirements, your current checking, savings. whatever it has to do with finance I've looked at. And I put it into a propriety program where I said, okay, you know what, let's see how we can help you the best.

And the funny thing is I've actually gone into houses where I said, you know what, you have everything you're supposed to do. You're doing everything. Stay on track. And if you want to coach, I'll help you out. I'll change the thing. So, you know, and you're like, well, you know, and they were surprised. I'm like, well, don't you get paid? I'm like, no, we didn't do business.

but, you know, I think the goodwill generated from that can lead to referrals and introductions to others who, hey, this is a good guy. He's not in it just for the money for himself. He's in it to really help me. And, you know, the funny thing is, and I don't know if this may be talked about later, so I'm sorry from the repeat, but it actually led to when I was at H&O Block helping one of my clients, she directed me to an introduction, funny enough, her parents. who then actually gave me business, and it turned out that that month I cash flowed the most I've ever cash flowed in my entire career working with financial services. So, you know, it really is amazing. Yeah, you know, you can't turn your nose up at the person that you made a small commission

on because they might be the conduit to refer you to someone huge. And I think that example that you gave about the times when you go into some, someone's personal finances and look at that and say, you guys are good to go. That shows a high level of integrity and ethics. And yes, you didn't make a commission on that transaction, but you may bank off of that goodwill and get the referral. So when you're working with your clients now and solving some of their financial needs, what would you say when you bring their solutions to them and ideas and strategies?

What are some of those solutions that you're bringing? and how does that set you apart from other financial professionals? Well, for example, I've gone into someone, some house, and they were paying for life insurance. They were paying, I think it was like $1.90 for insurance with a savings component. And, you know, they were 30, around 30 something. I don't remember the exact age. I mean, unless they look at my notes, but what happened is I was able to do. get them insurance for $47, and I invested that difference and put them on track for retirement

so that they can retire with using the same exact money in about 20 years and have enough that they don't have to go back to work. So when you think about it, you know, and these are not even people that I work with. You know, these are clients that I help and I coach and keep them on track. Now, granted, the person didn't retire yet, but as long as they stay the course with my direction and prompting every 90 days, half a year, at least once a year, and make sure that they don't want to add more money, make sure that they're staying, at least not dropping off, they're going to be fine. And, you know, I've gone into other houses where they're like, you know what, I just want to make an extra $500 a month. and I've been able to help them do that. So, you know, I find it exciting where I can help someone if they just want to earn a couple dollars a month or if they want to see if what they're doing is right and how I can fix it or keep it if that's the case

and just kind of coach them and help them stay on course where they can be able to become financially secure, retire when they want to retire or if not realistic ability to do so, put them on track that they can retire in the foreseeable future instead of just working till they pass. You know, you've said a few words that are really key. Coach, teach, guide, educate, things like that. Well, I would venture to say that the reason that you're so successful with your clients is that's what people want. They don't want to feel pushed. They don't want to be sold. They want to understand and be coached and encouraged. And when you can check in with people periodically, according to their schedule, and see

where they are, give them advice and that coaching, I would venture to say that that's a huge competitive advantage for you. Oh, 100%. I mean, when you think about it, people can go online and buy insurance online and pay a little bit less, a little bit more, whatever. And they can easily do that. But the thing is, the competitive edge, people don't. want to go to a computer. They want direction. That's why you hire a professional. I don't mow my own lawn. I

hire a professional do it. I mean, you know, can I bow one lawn? Sure. It's very easy to do. But why would I waste the half hour doing it on my own when I could just hire someone for a few dollars and go out and do what I do? So, you know, it 100% makes a difference. And even the clients that I see, it does. They don't want to do something that I could do because the truth is they may or may not do a hit or miss. They may or may not be better than me. They may not be worse. But they're guessing, whereas I can direct them and help lead them to where they want to really be. And the other thing I would suspect is in financial services, there are so many changes in the industry. Tax laws and investment opportunities and insurance, this and that, to where the

typical person is not going to stay up with that at all. Whereas a professional like yourself, you're going to be up to date on all of those to see how they impact this client and that client and this age group and all of that. Oh, 100%. And, you know, the funny thing is, in honesty, I don't spend 40 hours a week looking at laws and doing all this stuff. But within my agency, I do have people that do do that. And therefore, I'm able to pull resources and knowledge from them when I need it in order to help my clients and help direct them to where they need to go again. So over the years that you've now been working with clients and building your team and

serving your clients with financial services, I'm certain that it's not been the perfect hockey stick growth of every year better than the next. You've had some hiccups and breakdowns and failures and roadblocks and hurdles and things like that. Talk a little bit about a few of those that you've experienced over your career. Sure. And, you know, I'm going to, I'm going to just sidetrack for a moment. I also like to officiate baseball and softball.

So one of the things I do as recreational, plus it gives me a few dollars and gives me a workout. Yeah. You know, I recall at the end of one season where I was officiating baseball, I was injured, you know, while making a call because the ground was wet and I kind of slipped and it just wasn't pretty. It put me in a cast. So it was at a point where I actually moved in with my parents temporarily. And at that time, you know, I figured, you know what, God must have a plan for me because there's got to be a reason why I'm laid out, so to speak. So, you know, I was single and, and you know, the funny thing is I decided to go on some websites to see if I could find a girlfriend because I can't really go out and find anyone at that point. And you know what?

Lo and behold, I actually found someone. So to this day, I truly believe that if I was not injured, I may not have been able to develop that meaningful, deep connection with my wife when I have. first met her back at that time. So my faith keeps me grounded and enables me to have a positive outlook whenever I experience breakdowns and challenges. So I naturally do have plenty of challenges. Don't get me wrong. But my faith helps see me through it.

So, you know, one challenge besides having a broken length, one challenge that I had, of course, was that pivotal time when I had that choice between H or not Block and my business. And the funny thing is I look at that time and chose right, chose wrong, it is what it is. And I say, could I have done more? You know, what could I have done? What could I have changed? And I believe that, you know, when I reach and hit challenges, you know, faith helps guide me, actually. 100%.

And, you know, what you just said there was when you had that, you know, work in the road, really, challenge in your career of should I go this direction or that direction. The thing that led you to more success was the mindset of I can do it and I'm going to persevere and I'm going to learn from this hard time and do better. What are some other things that led, what were some other successes that resulted from that time? Well, you know, my child had a lot of breakdowns and challenges which had actually led to, you know, my belief and my faith.

but, and I always believe that my outlook helps me keep an eye on for opportunities. So, for instance, when I was talking to that tax client about finance, they, they helped introduce me to their parent that I was talking about earlier. But, you know, another success that I have is, of course, when I'm working and, you know, on, whether it be something that's not finance related, like I'm doing my, my officiating, or if I'm working, you know, with a post office and the government. or whatever, or taxes especially. I always try and keep an eye out for opportunity.

I remember even once when I was at a supermarket, we went on a long line, and this customer comes up to me behind me and saying, this line is so long that it's just doop-d-de-do. You know, so, you know, and I was like, oh, yeah, you know, and we started talking, and next thing, you know, we're like, oh, I see that you have your kid here.

That must be, you know, trying on your patience. And like, yeah, you know, this line just is not too good, but I try and keep him entertained and do whatever so that he doesn't cause a scene in the market. So we eventually started talking. I got their name and their number, and then I eventually was able to go to help them and become a client. Now, this is many years ago, of course. So I actually kind of lost contact with them because they moved out of state and wound up doing business somewhere else. but the idea is at that time, when I had quit with my business and kind of was in between, I was able to find people and talk to people

and it creates little successes. And it also introduces me to people who may or may not do business for me, but may introduce me to someone who does. So, you know, I find little connections and relationships can really mean a lot. Yeah, relationship building is just, just key. It's the, it's like the equity we have in our, in our personal life is relationships.

I think that is so important. So looking back on your career, do you think you would point to anything where you would do things differently if you could go back and change anything? Yeah, I'm going to, I'm going to say again, when I was at the crossroads of quitting my business or quitting my job, I think this go around, I might quit my job, which would have enabled me to become regional vice president many years ago. I might have been able to change my career with the post office. But you know what the funny thing is? I don't know if I made that change, my life would be very different and it would have its ups and downs. But I honestly think my wife is going well despite its ups and downs. And the truth is I may not have met my wife.

There's a lot of things that would be different. Some would be better, but some would be worse. Yeah. I think that's a really honest assessment because sometimes people say, oh, I would, I would want to avoid that hard time. But in reality, it's the hard times that make us stronger to be prepared for the next hard time and then the good times that are in between. So I think that that perspective you gave was just really powerful. So think about some of the things that you personally had to, you know, like key attributes in your life, your mental approach. of things to succeed. What do you think some of those key attributes are that others need to have in their life so that they can persevere and succeed personally and professionally? You know, I think that's a great question. The simple, down to nitty, gritty is people need to have grit. And grit is a great word defined as having courage or resolve and strength of character.

So in addition, I believe that people need to utilize coaches and professionals. to assist them in the good times and the bad. As I was saying before about coaching and definitely what you were you were saying as well, the funny thing is, you know, when you look at professional players, football, softball, whatever, they always have coaches, the Olympics, they always have, you know, they always use coaches and they attribute those coaches as key to doing what they do. The same thing goes with life coaches. And you know what?

Financial coaches like myself as well. So I think that coaching is so, so important. And like I said, the person should have grit, you know, and it goes back to what you said about, you know, overcoming whatever they had to overcome creates that grit. And seek people out to be a mentor and follow their lead because they've made mistakes. So let them be a coach and a mentor to you and then have the perseverance to actually listen to what they have to say because I've heard. the saying before success leaves clues yeah that is so so true and you know it's funny you say that and and this is not me specifically but it is me you know my regional vice president who like i don't consider my vice president consider my coach and my mentor he said you know i can talk to you

till i'm blue in the face but unless you actually act on what i'm saying it doesn't mean anything and that it's so so true yeah um so let's uh wrap this up uh with this question steward at this point your career you have come through struggles, hurdles, roadblocks, you've succeeded, you've made some mistakes, you've overcome. What is your purpose in business, personally, professionally, and then what's the why behind your purpose? I think that's really important because it stokes the fire to really keep us motivated to strive to the next level. Oh, 100%. Well, as I alluded to, I have overcome many struggles and I've learned lessons. But my number one lesson I learned is there's always going to be more struggles.

So to answer your question, I would have to say my wife is my number one purpose. You know, we love to travel and eat high-end restaurants. And I truly want her to be fully retired from her job, to retire me from my job, and still be independently wealthy. I want to be able to have millions in income so that I can give more money to worthy causes and to be able to go. to charity gal is with celebrities and give it to those a need. That's pretty much my purpose and why. I love it. Helping out those less fortunate that is spectacular and helping people all along the way. Well, Stuart, thank you so much for coming on today. What's the best way that someone can reach out and connect with you? They can go to my website, Stuberg-360.com, and they can download my information and contact me, and I'd love to chat with them.

Excellent. Well, Stuart, thank you so much for coming on today. It's been a real pleasure talking with you. Great. Thanks a lot, Mike. You've been listening to Influential Entrepreneurs with Mike Saunders. To learn more about the resources mentioned on today's show or listen to past episodes, visit www. www.influentialentrepreneursradio.com.