A Business of Stewardship & Radical Generosity | Business with Purpose Podcast EP 305: Cody Foster, Advisors Excel
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My guest today is Cody Foster, the co-founder of Advisors Excel in Topeka, Kan. His company has a mission of helping good financial advisors become great business owners so they can help people enjoy an amazing retirement.
Since they were founded in 2005, they’ve grown from three founders to about 800 employees, making them one of the largest employers in Topeka. They’ve been named a great place to work for four years.
5:10 – Cody 101
- Advisors Excel sits between financial advisors and insurance and investment companies they access products through.
- Cody dreamed of working with a professional sports team. But in college, his grandma declared bankruptcy on a business. He wanted to learn more about money and financial services.
7:20 – How does Advisors Excel work?
- It’s the simplest business model, but hard to explain.
- Advisors Excel represents about 50 different insurance companies, like Nationwide, etc. Financial advisors go through Cody’s company to work with the insurance companies.
13:53 – Healthy paranoia
- Cody has a healthy paranoia, knowing that he has to keep growing and developing.
- As the leader, you have to be the most committed to your personal growth and development.
20:50 – Lessons learned about money
- If you inherit money but haven’t done things to develop as a person, you will struggle.
- You need to grow into a person who can handle major responsibilities.
- Cody didn’t grow up with a lot of money, so he is able to be content no matter how much money he has.
26:44 – Being generous
- Financially successful people tend to be more generous.
- Instead of talking about being generous, show people how to do it.
38:47 – Employees and strangers
- Cody read a book about Andrew Carnegie, who did not treat his workers well but was very generous with strangers.
- It blows Cody’s mind when bosses treat strangers better than their employees.
50:46 – College visits
- Cody was struck by how college visits with his son were so different. Some colleges took extra care to make potential students feel special.
- That can translate to your business.
56:30 – Jones Project
- Josh Jones was a close friend of Cody’s and a key team member. He struggled with mental health issues and took his life last year.
- On June 1, the Jones Project launched to help more people.
1:03:00 – Get to know you
- Has he ever been nervous to interview anyone? Yes, President Bush
- Favorite TV show as a kid? Andy Griffith Show
In my ideal, dream world, nobody would know who I am. I’m actually a lot more of an introvert than an extrovert.
I have been able to model generosity in action and inspire other people.
I wish we told more stories about the companies and the people that are super generous, because they outweigh those that are not.
As the leader, you have to be the most committed to your personal growth and development.
The happiest people tend to be the most generous people.
Thank you to our partners of the show!
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