In 2000, I transitioned from the accounting sector into the financial planning industry by joining my father’s financial planning firm. Having attended numerous Saturday morning seminars during my youth, I was well-acquainted with his approach to retirement income planning, primarily assisting with the setup and breakdown of audio/visual equipment. My tenure at the accounting firm underscored the importance of repeatable processes across all organizational facets. One area that notably lacked consistency was the illustration of retirement income strategies by financial advisors.
At that time, Microsoft Excel was the preferred software. While it served its purpose, its effectiveness heavily depended on the financial advisors’ Excel skills, which were inconsistent. This led to several discrepancies in client presentations, which I found problematic. To address this, I developed our first web-based Bucket Strategy Illustration system in 2001.
For the first time, financial advisors in our office could present The Bucket Strategy® illustration in a consistent and repeatable manner. From when I joined until I acquired the firm ten years later, the firm experienced tenfold growth. This expansion was multifaceted, but a key contributor was our consistent process and the assurance that our advisors were adhering to it with our clients.
In 2003, we forged a partnership with a large broker/dealer to introduce a network of their financial advisors to our Bucket Strategy software, providing both training and marketing support alongside the technology. In late 2007, we acquired their ownership stake and joined another broker-dealer firm. Several financial advisors followed us, leading to the creation of The Bucket Strategy Advisor Network (BSAN).
In 2009, I met Paul Escudero, a financial advisor at First Allied Securities, who managed a significant branch office with multiple advisors. He sought a process and philosophy to unify his team and saw potential in leveraging our program. The success Paul and his advisors experienced was so significant that he became the first financial advisor I introduced to The Bucket Strategy® who shared my vision of building a coaching program for financial advisors. With Paul’s passion and my resources, we expanded BSAN at First Allied.
Over the years, we significantly upgraded our technology. In 2010, we completed a comprehensive overhaul of the entire platform, enhancing its programming language and functionality, as illustrated below.
In 2012, I met with FINRA to discuss The Bucket Strategy®. They requested minor changes in bucket labeling, which seemed straightforward but proved challenging for our programmers. Nevertheless, the modifications were implemented.
By 2014, over 100 financial advisors at First Allied were part of the BSAN program. Paul had taken this initiative to new heights, expressing a desire for complete control over the business, including branding. We struck a deal, and today, Paul oversees several hundred financial advisors at Cetera using his version of The Bucket Strategy®, now known as Advanced Time Segmentation (ATS). I am immensely proud of ATS and Cetera’s dedication to supporting their financial advisors with retirement income strategies. Remarkably, Cetera’s performance metrics reveal that ATS advisors increase their Assets Under Management by 50% and Assets Under Administration by 33% compared to those who do not use ATS. I wish continued success to my friends at Cetera. For Cetera-affiliated financial advisors interested in ATS, click here to learn more.
From 2014 to 2024, we primarily used The Bucket Strategy® software for financial advisors at my wealth management firm, as I was not focused on marketing and expanding this aspect of the business. However, over time, the favors I extended to many advisors who followed us revealed a broader purpose. I realized that rolling out our software to financial advisors beyond my firm could significantly impact American families. To cater to the needs of independent financial advisors, the technology required proper commercialization. My experience with Paul and ATS taught me the importance of advisor branding, not just the typical “white labeling” seen in most Fintech products but genuine branding. We upgraded the technology to allow advisors to personalize their firm logo, strategy logo, tagline, bucket labels, and all compliance disclosures.
Now, financial advisors can create their own version of The Bucket Strategy® and tailor it precisely to their needs. Additionally, we enhanced the wizard functionality for quick and simple illustration creation and introduced Advanced Mode, allowing up to 10 buckets. The Strategy Report was completely redesigned with new charts and streamlined pages. We also introduced Advisor Teams functionality, providing team members with their logins and the ability to view, edit, and share plans within their selected team. Lastly, we refreshed the UI with a modern look and feel, launching BucketsFP.
Recognizing the importance of training for advisor success, we established a first-of-its-kind Community Portal where all financial advisors can interact with the BucketsFP team and collaborate with each other.
I am thrilled to embark on this new chapter in my career and eagerly anticipate the success of our Bucketizers nationwide!
