Don't be boring: KCRW's Jennifer Ferro on building a brand people love

Jeff Berman (0:01)

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Jennifer Ferro (2:20)

We don't assume, oh, we're public radio, so we should be a little bit boring.

Jamie Batmer (2:26)

It's KCRW.

Rana El-Khaloubi (2:27)

Yes, indeed, it's KCRW.

Jennifer Ferro (2:29)

There's like the broccoli and the chocolate cake. We try to lean to the chocolate cake.

Jeff Berman (2:34)

Well, and sometimes you're broccoli just with a really nice cheese on top or something like that, right?

Jamie Batmer (2:38)

That's true.

Jennifer Ferro (2:38)

Yeah, exactly.

Bob Safian (2:39)

KCRW, KCRW.

Jennifer Ferro (2:42)

The founder of KCRW, she was a person who really didn't care what other people thought of her. It's a superpower making decisions. We fought all the time. I realized later that was her love language. I would leave every day and go, oh, I'm going to get fired. You know?

SPEAKER_6 (2:56)

This is KCRW.

Jennifer Ferro (2:59)

Literally every other aspect of media is controlled by the new kind of almost oligarchs of the world. We're not here to make money, to sell your data, to get you to buy something. We're just giving you information and trying to make your life better.

Jeff Berman (3:15)

Hey folks, Jeff Berman here. Before we start the show, I'm thrilled to welcome my friend, Jamie Batmer, Chief Investment Officer of Creative Planning, one of the sponsors of our show. Creative Planning is one of the country's largest independent wealth management firms where a single team, advisors, tax specialists, estate planners, all work from one coordinated plan. Jamie, welcome to the show.

Jamie Batmer (3:37)

Hey, thank you so much for having me.

Jeff Berman (3:39)

Jamie, when you meet a new client, founder, a business owner, what does their advisor setup usually look like?

Jamie Batmer (3:46)

Maybe a few investment people, right? They have it spread out with a few firms. Then they have a tax person they've been working with, or a tax team, and then an estate planning team they've been working with. And so what we've done is bring those all under one roof with the dedicated subject matter experts within each space.

Jeff Berman (4:04)

I have to imagine that there's also a set of hidden costs when you have advisors who don't really talk to each other. What do those costs look like that people may not even recognize?

Jamie Batmer (4:16)

Well, it's just friction costs. You're not moving along as efficiently as you can be. If there's not clear communication between those entities, you're missing stuff. You're missing the closest thing the free money the markets will give you.

Jeff Berman (4:28)

Could I ask you to share a real world example of a client who came to you after fragmented advice and counsel led to a costly mistake?

Jamie Batmer (4:37)

We had a family that was domiciled at one point in Delaware, right? Made total sense when it was set up over a decade ago. Now, with as things have changed, they should be farther out west in Nevada.