Shownotes
- Growth Beyond the Textbook: Kobe Bolanos emphasizes that real financial advising isn’t just about technical knowledge; it’s about understanding clients’ emotions and unique situations—skills you only build through experience.
- Importance of Emotional Intelligence: Emotional intelligence is crucial, especially when guiding clients through transitions, losses, or fears. Effective advisors translate technical concepts into language clients can relate to, tailoring advice on a client-by-client basis.
- Early Advocacy for Estate Planning: Kobe Bolanos is committed to bringing estate planning awareness to younger generations, having witnessed firsthand the financial and emotional impact of being prepared—or not.
- Building Young Professional Networks: By connecting with the Young Lawyers Group and leading professional organizations, Kobe Bolanos is fostering relationships that will shape the future of the industry, proving the value of starting early in building a professional community.
- Learning from Mistakes: Neither career nor personal growth happens without a few stumbles. Kobe Bolanos’s ability to laugh at himself, learn, and roll with mistakes demonstrates resilience—an invaluable trait for any professional.
Transcripts
This is Eric Brotman, the host of Don't Retire Graduate, the podcast that asks you what you want to be when you grow up so you can graduate into retirement with passion and with purpose. Welcome to our Diary of a Financial Advisor segment where we interview financial advisors about their professional journeys and their passion for helping others succeed. Today, I'm pleased to be joined by Kobe Balanos. Kobe joined BFG Financial Advisors in August 2021 as an investment Operations Associate and transitioned to the advisory team in 2022. Born and raised in Lebanon Penns, he later relocated to Maryland and attended Stevenson University where he earned a Bachelor's degree in Business Administration with a concentration in Finance and a minor in Information Systems. He earned his Certified Financial Planner practitioner designation in 2023. When he's not in the office, he enjoys reading a good book or training for different fitness challenges, some of which I've witnessed, actually. Kobe, welcome to Diary of a Financial Advisor.
Kobe Bolanos [:Thank you for having me. I appreciate it. I appreciate it.
Eric Brotman [:So this is not your first rodeo here. You're a KG veteran of not only this podcast, but also the webinar world.
Kobe Bolanos [:That is true. I wouldn't consider myself a seasoned veteran just yet, but I'm getting a little taste of the water.
Eric Brotman [:So a couple things. First of all, this is our last episode of Diary of a Financial Advisor as part of the Don't Retire Graduate podcast. We're here for the holidays. We're starting something new after the first of the year. I'm excited to talk about here at the end of the show, so stay tuned. But what's cool about that is forever. You get to be the last guest. You're the one.
Eric Brotman [:You're like the ringer. You're the one bringing it home.
Kobe Bolanos [:And that's a lot of pressure. But I'm hoping that everyone can enjoy this for the holiday season.
Eric Brotman [:So a couple things. One, your career. And now. I can't believe you've been here four years. That's amazing. Four plus. But you know, we, we tend to bring folks into what is a five year apprenticeship and you're nearing the end of that, where you're going to take the next pretty big step in your career, you know, during the course of 2026 and beyond. How has that experience been? Has it been.
Eric Brotman [:Has it been hard to be patient? Has it been a reasonable pace? Like, how do you feel about the way that. That you started as someone straight out of school to someone who's going to be advising clients of BFG within a year or so?
Kobe Bolanos [:Yeah, yeah. It's been a great experience, I think, just, you know, starting out with the books and learning the bare basics of it and then kind of transitioning to being in client meetings. You can really put what you read in the book to practice. You know, there's a lot of emotional side to the financial planning world that you can't get from a book. You kind of just get that from experience. So I think that's been, you know, I'd say a little bit of the struggle, but a little bit of, you know, a learning opportunity as well. You know, they don't necessarily explain how to, you know, say in client terms, because I could speak to you and I could use the technicals all you want, but for someone that they don't do this every day, you have to figure out what's their language and what's the middle ground and how you can communicate effectively with everyone because it changes on a client by client basis.
Eric Brotman [:So it's interesting because I think the CFP board has changed their program since you took the exam and added components on behavioral finance that are much more robust now because, quite frankly, understanding why humans make the decisions that we make and sometimes decisions that objectively seem like they're not in our best interest and, and, and yet we make them over and over, and there's, there's biases everywhere. But, but trying to understand what you can't get in a textbook is when somebody's really afraid, where they're really bereaved or they're going through something hard, whether it's medical or family or something with their kids or. I mean, it's just, it's an incredibly intimate experience to meet with clients. And you've had a chance to meet with dozens, if not hundreds by now. Yeah. As a part of your, of your training and development. And what would you say are the biggest surprises to you in terms of. Of what this job is compared to maybe what you thought it was when you signed up initially?
Kobe Bolanos [:Yeah, I think I just go back to the, the emotional side of it because I think you could be presented with the same, you know, circumstance for two completely different households, and just knowing a little bit more about the client on a personal level will dictate whether you go in one direction for one and then another direction for the other. And I think, you know, when you, you have these exams, you know, it's A, B, C or D to get the certification, but you kind of have to use that emotional intelligence side of things to really figure out, all right, what's the best interest of the client and what's going to make them feel comfortable at the end of the day? Because you don't, you don't want to jeopardize any relationship or, or make them feel uncomfortable in any type of way. So I think that's been the biggest eye opener so far for me.
Eric Brotman [:So in this industry, there are lots of different specialty areas and focuses and niches and all kinds of different things. And you sort of took to the estate planning side relatively early in your career, where you said you wanted to be a part of the Baltimore Estate Planning Council and get to know some of the attorneys and trust officers and philanthropists and other folks who are, who are working with families, who are talking about intergenerational wealth. I mean, real, in a lot of cases, real serious wealth. Why was estate planning specifically so interesting to you at such a young age? I mean, that's something that most people don't even think about until they're far for your senior. Yeah, yeah.
Kobe Bolanos [:And I think that's the exact reason why, because there's not a lot of people on the younger side that are involved or even know what it is. You know, when you watch tv, you know, cnn, MSNBC, or whatever your news outlet is, they talk about the numbers of the financial planning world, but no one ever really talks about estate planning. And I'm at that point in my life where a lot of my friends are starting to have kids, you know, getting married and all that. And the first thing that comes to my head is estate planning, state planning, estate planning. But I can, I can be certain that that's the last thing that's on their mind right now. But I know how important it is. I've seen people that have gotten the, gotten the documents done, and it's, you know, really saved them a lot, and then people that haven't gotten the documents done, and it's been a little bit of a nightmare. So I'm just trying to, you know, bring awareness and educate people on the younger side to get these things taken care of, you know, at a, at a younger age.
Eric Brotman [:So you, you've done something that a lot of people don't do, which is you've volunteered to spend lots of time with lawyers. And by that, I mean you approached us with the opportunity to sponsor the Baltimore County Bar association and have become the face of BFG with the Young Lawyers Group in the Baltimore County Bar Association. Why was that something that you felt passionate about? I assume that that has something to do with your desire to bring estate planning to folks, but it's not just estate planners now, it's all different kinds of law, right?
Kobe Bolanos [:Yeah, yeah. And that's the exact reason why, because going to a couple of events, you know, networking events and whatnot, I go into the room and there's a large disparity in age and I know that there's people in the industry that are, you know, around the same age as I or just starting out or, or what have you. And it's really intimidating to go into a room and you don't know anyone. And you know, for the other people that are in the room, they don't necessarily, I can say they don't want to talk to you, but they're towards the end of their career but they still have to have a succession plan like, you know, you talk about all the time. So just really identifying building those relationships early because I know when you go into the room you say, oh, I've known so and so for 20 plus years. I can't say I had that yet. But I want to start building that with people, you know, around the same, you know, experience level as me.
Eric Brotman [:It's funny, I had those very same conversations with folks when I was, you know, a couple of years in the business as well. Yeah. One of the things is I always liked being the young, precocious one in the room. I always felt like, haha, I'm ahead of my time, look at me. Despite the fact everybody there was a lot older than I was. But I also was very jealous of people who said, oh, I've been working with this person for 20 years or 30 years. I couldn't fake that. You can't do that.
Eric Brotman [:Yeah. So in 1995, which you don't remember.
Kobe Bolanos [:I remember fondly.
Eric Brotman [:Yeah. No, but in 1995 I started an executive dialogue group of other young professionals in every different walk of life with the idea that we would create a group that eventually would be able to say, we've been working together 20 years and we started as a young professionals group. We learned a lot from each other. It was a great experience. Today we're all dear friends, even though we're not young professionals professionals anymore by, by most definitions. And you know, now we get together and it's, it's a different experience. Now instead of learning from each other about, about the tools of estate planning or real estate or investments or those kinds of things, now we're talking about what it's like to send your kids to school and think about, you know, aging parents and, and about life in a different way. And so if you have the opportunity to create either a study group within the industry or an executive dialogue group of young professionals.
Eric Brotman [:I started with a young attorney. Dear friend. He's no longer a young attorney. He's still an attorney. I'm no longer a young financial advisor. I'm still an advisor. But. But, you know, I started with an attorney because there was a big network there, and then we moved to an accountant and real estate and insurance and mortgages and different things, and I actually thought it was a really good tool.
Eric Brotman [:So I'd be happy to help, you know, talk to you a little bit more about that.
Kobe Bolanos [:I.
Eric Brotman [:So you. You did your first webinar. Mm. I'm not letting you off the show without sharing this story, because I love this story. You did your first webinar with Manny.
Kobe Bolanos [:I did. I did.
Eric Brotman [:And you guys were doing a webinar for the Baltimore County Bar Association. It was the first time you'd ever done it. It was just the two of you. Yep. You know, you didn't have the. The training wheel, this guy sitting there. Right. So it was just the two of you.
Eric Brotman [:Yeah. How nervous do you have to be to get your own name wrong?
Kobe Bolanos [:Just in general, you know, I. I was pretty nervous. You know, the podcasting world, the webinar world, it's something that's new to me. You know, social media in general, it's. It's a great way to get your name out there, you know, really display what you want everyone to know about you. So you have so many things going on in your head that, you know, just to start out, some people, something. Something as simple as my name got that mixed up.
Eric Brotman [:Yeah. So, yeah, he. He introduced himself. He says, hi, I'm Manny. And this is.
Kobe Bolanos [:Yeah, yeah. And I didn't even realize it happened until afterwards. And. And Manny looked at me and he said, you know, you said you're. And I said, there's no way. I hope that wasn't being recorded.
Eric Brotman [:Oh, no, it's real, and It's. It's on YouTube somewhere.
Kobe Bolanos [:Well, I'm going to delete it.
Eric Brotman [:No, no, don't delete it. Don't delete it, because here's the thing. You. You don't learn from the successes. Right. You learn from the mistakes and how you roll with them.
Kobe Bolanos [:Yeah.
Eric Brotman [:Is the best. And I was. I. I think I told you this story, but I was on a podcast. Chelsea Williams has an amazing podcast, and. And she had me on her show, and I was trying to talk about Aesop's Fable about the ant and the Grasshopper. And I stumbled over my words and I said, the grant and the asshopper. And she looked at me and I looked at her and we both started to laugh.
Eric Brotman [:And I said, well, that's either going to stay in the show or it's going to be on the blooper. You choose. Yeah, but we got a good laugh out of. Happens to all of us. So. Actually, I think the fact that you had that experience was so valuable, and the fact that you've been able to laugh it off and accept some good natured ribbing from your colleagues, I'm sure at our planning summit. Yeah, there'll be, you know, a little. Little badge that says, hi, my name is just.
Eric Brotman [:So you are.
Kobe Bolanos [:Yeah, for next time.
Eric Brotman [:So. So last time you were on the show, I asked you what you wanted to be when you grew up, and it's been a while. Do you still have the same trajectory or have you given more thought as you've. As you've matured professionally in terms of what you. What you'd like to do, what you'd like to be?
Kobe Bolanos [:Yeah, I think it's really just centered around helping people in. In any way that I can. You know, I focus specifically on financial planning, but health, you know, wellness, you know, mental, anything like that. You know, I come from. From Lebanon, Pennsylvania, where there's different walks of life around there. And in that I've learned so much. And then even coming to Maryland, the culture is so different here than where it was when I grew up. So using all that information that I have and really helping people in any way that I can, that's really what keeps me going.
Eric Brotman [:Well, just. Just using the word Maryland and culture in the same sentence, I'm sure made somebody happy. I mean, there's a. There's a culture here of some kind, right?
Kobe Bolanos [:Yeah, absolutely. And it's different from where I grew up, but it's definitely helped, you know, groom me into what I've become and what I ultimately want to become.
Eric Brotman [:So. What a great way to end Diary of a Financial Advisor. As a part of the Don't Retire Graduate podcast, I can't thank you enough for being the anchorman.
Kobe Bolanos [:Thank you. I appreciate it.
Eric Brotman [:I mean, that's. That's a hard gig. I mean, we're going to remember this episode forever. Not as much maybe as the. The thing with Manny, but we're going to remember this episode forever.
Kobe Bolanos [:Yeah.
Eric Brotman [:And I thank you for doing it again. It's always a pleasure, and it's been truly. It's been an honor and a pleasure to watch the four years you've been here, to watch you grow and mature into a darn fine financial advisor and a heck of a good human being. And so I'm just glad you're on our team.
Kobe Bolanos [:Thank you. I appreciate it. There's been some, some bumpy roads, but I'm, I'm happy that it's smoothing out a little bit and I'm really starting to grow.
Eric Brotman [:Well, we're glad you're here.
Kobe Bolanos [:Thanks.
Eric Brotman [:Thank you. I'd like to thank all of you for listening and watching today. If you enjoy our show, please subscribe so we can continue to be a part of your journey to financial freedom. The big news as we just talked about, is that starting in two weeks, Diary of a Financial Advisor will be joining BFG University. We'll be bringing new episodes every other Thursday as we have, but with current events in the economy, markets and the world we all designed to be timely, entertaining and educational. Go to bfguniversity.com for more information. Don't retire Graduate. We'll be back next week with another engaging guest and we hope you'll subscribe and never miss an episode.
Eric Brotman [:For now, this is your host, Eric Brotman, reminding you. Don't retire Graduate.
Kobe Bolanos [:Securities offered through Kestra Investment Services, llc. Kestra is member finra, SIPC Investment advisory.
Eric Brotman [:Services offered through Kestra Advisory Services llc. Kestra as an affiliate of Kestra is Kestra is or Kestra as are not affiliated with Brotman Financial or any other entity discussed.
