Facts vs Feelings | E36 | Finding Your Freedom with Ron Carson

Introduction

The hosts introduce themselves and the podcast, and are joined by Ron Carson, founder and CEO of Carson Partners.

Host Introductions

• Ryan Detrick is the chief market strategist with Carson.

• Sonu Varghese is VP, global macro strategist.

Guest Introduction

• Ron Carson is the founder and CEO of Carson Partners.

Live Stream Announcement

The hosts announce that they are live streaming the podcast with Ron Carson.

Live Stream Announcement

• The podcast is being live streamed with Ron Carson as a guest.

Find Your Freedom

The hosts discuss the meaning behind "Find Your Freedom," a phrase coined by Aaron Schaben at Carson Partners.

What is "Find Your Freedom"?

• "Find Your Freedom" was coined by Aaron Schaben at Carson Partners.

• It means finding financial freedom for clients through personalized financial planning.

• It also means finding freedom for advisors to build their own businesses within the framework of Carson Partners.

Facts vs Feelings

The hosts discuss how learning correlates with happiness throughout life, and how facts and feelings play into this theme.

Learning Correlates with Happiness

• In early life, learning is focused on facts.

• As we age, we develop crystallized intelligence which focuses on feelings.

• Our fluid intelligence peaks around age 40.

• Darwin's happiness plummeted when he couldn't make a move in his career due to lack of fluid intelligence.

Facts vs Feelings

• The podcast focuses on separating facts from feelings in investing decisions.

• A Harvard professor discussed how learning correlates with happiness throughout life.

Finding Your Freedom

In this section, the speaker talks about finding your freedom by putting yourself in a position where you are doing things you love and fully expressing yourself.

Find Your Freedom

• Finding your freedom is putting yourself in a position to do almost everything you love to do and fully express yourself.

• Manifest a life of living and loving at our highest level by loving ourselves, the people we're with, the places we are, and our daily activities.

• Maslow's hierarchy of needs shows that until the bottom two rungs (physiological and security needs) are taken care of, it's impossible to move up above it.

• Carson is in a unique position to work with people to understand what they want and how they can pursue their personal freedom.

Carson's Journey

In this section, the speaker talks about Carson's journey from its inception in 1983 to serving 46,000 families with $22 billion in assets.

Starting Out

• The company started in 1983.

• When Carson hit $25,000 of AOL was celebrated as an achievement.

• Implementation quotient or IQ is essential for getting things done.

• The six most vital one is identifying the six most important things that need to be done in order of priority.

Adaptability Quotient

• The average S&P 500 company in the fifties was averaging 50 years, but it's a fraction of that now.

• Embrace the unknown every single day and don't defend what you know.

IQ and AQ

In this section, the speaker talks about IQ (implementation quotient) and AQ (adaptability quotient).

IQ

• IQ is not just about intelligence but getting things done.

• The six most vital one is identifying the six most important things that need to be done in order of priority.

AQ

• The average S&P 500 company in the fifties was averaging 50 years, but it's a fraction of that now.

• Embrace the unknown every single day and don't defend what you know.

The Future of AI and Adaptability

In this section, the speaker discusses the increasing importance of adaptability in light of advancements in AI technology.

The Growing Power of AI

• The speaker talks about how AI will play a role in improving client experience.

• In 2018, AI was using 3 million parameters for teaching itself.

• By 2021, it is projected that AI will be using 60 trillion parameters.

Implications for the Future

• There is a debate over whether or not AI can gain consciousness and become human-like.

• Regardless of whether or not this happens, the pace of change brought on by technological advancements means that adaptability will be more important than ever.

Football Career at Nebraska

In this section, the speaker talks about his football career at Nebraska.

High School Football Career

• As a freshman in high school, the speaker was already over six feet tall and weighed 225 pounds.

• He played as a running back but also participated in track and field events such as sprints and shot put.

College Football Career

• Despite being recruited as a defensive end due to his lack of speed as a running back, he went on to play football at Nebraska under Osborne.

Starting a Business and Mentors

In this section, the speaker talks about starting his business and his mentors.

Starting a Business

• The speaker increased his speed but then re-injured his knee.

• He started his business by cold calling out of a phone book.

• He never went back to college after leaving Nebraska.

• The speaker was bothered for a long time that he didn't have a college degree, but it doesn't bother him anymore.

Mentors

• The speaker's parents were great mentors who taught him the value of hard work.

• His high school football coach, Coach Hunt, elevated the speaker's confidence in himself.

• Howard Hawks, who started Tenaska Energy, has been a great mentor to the speaker.

• The speaker likes to study great leaders and considers them as mentors even if they don't know it.

Aviation and Walmart

In this section, the speaker talks about how aviation helped him build his business and how Walmart was built because of aviation.

Aviation as a Time Machine

• The speaker used aviation to build his business.

• Being in Omaha, he could be anywhere in the country in 2 hours.

• He calls it his "time machine."

Walmart's Aviation Fleet

• Sam Walton had a little plane and would fly around areas to look at the population.

• Walmart was built because of aviation.

• Walmart has one of the largest aviation fleets today.

Moving to the Back of the Plane

In this section, the speaker talks about moving from working up front to sitting in the back of the plane.

Mental Tax

• The speaker always worked up front but realized it was a mental tax.

• He moved to the back of the plane for two years and loved it.

Bucket List

• The speaker hasn't flown for two years but wants to fly again someday.

Omani Native American Name

In this section, the speaker talks about his Native American name and its meaning.

Finding Spirituality

• The speaker grew up without spirituality but found it later in life.

• He met Chief Phil Lane, who is dedicated to building the one human family.

Tahte Omani

• The speaker was given his Native American name, Tahte Omani, which means walking into a stiff wind.

• The speaker shortened it to Omani and uses it on social media.

Healing Ranch Gathering

In this section, the speaker talks about an upcoming gathering at his healing ranch.

Sweat Lodges

• The speaker's healing ranch has sweat lodges and other powerful things.

• They are having a gathering at the ranch this fall where Chief Phil Lane will be present.

Company Discussion

• The discussion shifts to talking more about the company and its other projects.

New Leadership and Vision

In this section, Ron Carson talks about the impact of new leadership on the company and his vision for a holistic model that delivers something unique.

New Leadership Impact

• Ron Carson is not involved in day-to-day operations anymore.

• The company has new leadership.

• Ron believes there's an opportunity to make the company better down the road.

Holistic Model Vision

• Ron envisions a really intense, holistic model where people can come and plug into Carson and their experience.

• The company will have a group of experts looking at all aspects of clients' lives from investments to holistic health.

• Rich data will be used to benefit clients without using it against them to market products.

• The ultimate goal is to help create a better world for people who are part of this vibrant community.

Sense of Community

In this section, Ron Carson talks about how the sense of community is important at Carson Group and how they strive to support their partners.

Supporting Partners

• Some advisors feel unsupported in their current positions.

• Carson Group is small enough that any partner can email Ron directly but large enough to get experts like Professor Siegel on their podcast with one quick email.

• The goal when a partner joins is for them to be someone who could handle Ron's family stuff if he were to die right now.

This transcript does not include timestamps for every line spoken.

Size Matters

Ron Carson talks about the concentration of assets in the top firms and how it's going to increase in the future.

Concentration of Assets

• 80% of new assets are going to the top 6% of firms.

• In the future, it's expected that 90% of assets will go to the top 3%.

Creating a Proactive Experience

Ron Carson discusses his vision for creating a unified, immersive, proactive experience that touches many pieces of people's lives and allows all those pieces to work in harmony.

Providing a Unified Experience

• Companies with smaller budgets will ultimately provide the most unified, immersive, proactive experience out there.

• The goal is to create an experience that touches many pieces of people's lives and allows all those pieces to work in harmony and communicate with each other.

Excitement for Life

Ron Carson shares what excites him every day and his bullish outlook on humanity.

Finding Joy Every Day

• Ron Carson wants everyone he touches to feel like a nine-year-old on Christmas Eve every day.

• He loves the vibe at his company and wants everyone else to feel it too. There's a vibe change as desired that he has never felt since he has been on this earth.

Bullish Outlook on Humanity

• Micro-communities are being created all over the world in order to shift from hoarding out of fear and scarcity to more of an abundance mindset.

• Ron Carson is super bullish on humanity because of the next generation. The young people care more about this than ever.

Learning from Failure

In this section, Ryan Detrick talks about his experience with failure and how it helped him learn to overcome his ego and find personal freedom.

Overcoming Ego

• Ryan shares that he had an unhealthy ego due to feeling like he wasn't living up to anything.

• He had something to prove and was trying to outrun the hungry ghost of accomplishment that he could never live up to.

• Ryan calls his ego a sneaky little mouth that always wants to do or say or interject.

• Now, he feels like it's congruent with his soul and is aware of it.

Finding Personal Freedom

• Ryan's big failure was not loving himself and not enjoying life.

• The work they do around helping people find their personal freedom is about learning from failures and finding joy in life.

Disclaimer

This section provides a disclaimer for the information provided on Facts versus Feelings podcast.

• Information provided on Facts versus Feelings for Sonu Varghese and Ryan Detrick are for general information only and are not intended to provide specific advice or recommendations for any individual.

• Guests on Facts versus Feelings are not reflective of CWM, LLC or its affiliates.

• To determine what may be appropriate for you, consult with your attorney account financial or tax advisor prior to investing.