1 00:00:00.475 --> 00:00:03.445 Welcome to the 2025 de Banked Connect in Miami. 2 00:00:03.865 --> 00:00:06.325 I'm now joined with Manny OV from Advanced 3 00:00:06.605 --> 00:00:07.725 Recovery Group. How are we doing? 4 00:00:08.235 --> 00:00:10.845 Fantastic. Okay. What are we advancing with this year? 5 00:00:11.225 --> 00:00:14.445 We are advancing with the agenda of growth 6 00:00:14.625 --> 00:00:16.165 and optimism despite 7 00:00:16.345 --> 00:00:19.485 how intensely turbulent things may seem at times. 8 00:00:20.145 --> 00:00:22.845 Uh, you know, I think there are a few things settled in the 9 00:00:22.845 --> 00:00:25.205 fact that we finally know which administration is gonna be 10 00:00:25.205 --> 00:00:27.125 leading us for the next four years and change. 11 00:00:27.225 --> 00:00:29.365 So that has, uh, you know, 12 00:00:29.425 --> 00:00:30.565 How is that affecting business? 13 00:00:31.595 --> 00:00:35.645 Well, I think I've yet to really see the plans, uh, 14 00:00:36.165 --> 00:00:38.845 materialized for what will be happening on a 15 00:00:38.845 --> 00:00:39.925 federal level and Statewise. 16 00:00:40.145 --> 00:00:42.125 Um, but right off the bat, I think 17 00:00:42.785 --> 00:00:45.805 our industry is generally more optimistic now 18 00:00:45.805 --> 00:00:48.805 because a lot of the regulation 19 00:00:48.805 --> 00:00:52.325 and policies, uh, are, are, are preferred on, 20 00:00:52.325 --> 00:00:53.365 on the conservative side. 21 00:00:53.385 --> 00:00:54.645 So, so how, you know, the, the, 22 00:00:54.645 --> 00:00:57.485 it's definitely been optimistic, but we'll see. 23 00:00:57.505 --> 00:00:59.805 You know, there's, there's a lot, you know, 24 00:00:59.805 --> 00:01:01.965 in a country like ours where there are checks 25 00:01:01.965 --> 00:01:04.445 and balances for getting what you want done so 26 00:01:04.445 --> 00:01:05.845 that no one person has a say. 27 00:01:06.185 --> 00:01:07.645 Uh, there's been a lot of tug of war 28 00:01:07.825 --> 00:01:08.925 and a lot of back and forth. 29 00:01:09.025 --> 00:01:10.565 So some things that may be good 30 00:01:10.565 --> 00:01:11.925 for the industry may not actually pull 31 00:01:11.925 --> 00:01:13.485 through, uh, as planned. 32 00:01:13.785 --> 00:01:17.525 But I mean, we see things like the CFPB, uh, having 33 00:01:18.125 --> 00:01:21.245 a huge issue and, and shut down in many capacities. 34 00:01:21.245 --> 00:01:23.325 And then a tip line for people, 35 00:01:23.325 --> 00:01:25.285 which I think Sean actually posted about, which was 36 00:01:25.285 --> 00:01:26.645 so interesting that there's a tip line 37 00:01:26.665 --> 00:01:30.965 for enforcement actions by the CFPB, uh, being promoted 38 00:01:31.065 --> 00:01:34.005 and essentially looking for, uh, a way 39 00:01:34.005 --> 00:01:36.125 to stop them from enforcing it against 40 00:01:36.125 --> 00:01:37.285 the will of the executive order. 41 00:01:37.385 --> 00:01:40.725 So, uh, I almost, uh, kind 42 00:01:40.725 --> 00:01:42.125 of have corrected myself in saying 43 00:01:42.125 --> 00:01:43.445 that turbulent times are behind us. 44 00:01:43.465 --> 00:01:45.325 It seems like the, the party's just getting started. 45 00:01:45.755 --> 00:01:46.925 Well, that's how it should be. 46 00:01:47.345 --> 00:01:49.805 But Sean's always on top of things in informing people. 47 00:01:49.945 --> 00:01:52.525 But tell me, how are you guys getting things done this year? 48 00:01:53.105 --> 00:01:55.725 So, generally, I mean, you know, 49 00:01:55.725 --> 00:01:57.805 like everyone else being interviewed, I'll tell you 50 00:01:57.805 --> 00:01:59.725 that we do collections and this is, uh, 51 00:01:59.725 --> 00:02:00.805 something we do really well. 52 00:02:01.225 --> 00:02:04.965 Uh, I think we do, we do what everyone else does. 53 00:02:05.065 --> 00:02:07.405 We just do it five to 10% better. And 54 00:02:07.405 --> 00:02:10.525 How do you do that By good, good, good comeback. 55 00:02:10.525 --> 00:02:12.165 You're, you're, you're picking, you're not letting me get 56 00:02:12.165 --> 00:02:14.245 away with easy power words and, 57 00:02:14.245 --> 00:02:15.805 and generalizations and cliches. 58 00:02:15.805 --> 00:02:17.245 I love it. If you wanna be different than 59 00:02:17.405 --> 00:02:18.525 everyone else, you gotta give it to me. 60 00:02:19.115 --> 00:02:21.285 I'll, I'll, so what we do is, I, I, 61 00:02:21.365 --> 00:02:24.805 I do have a heavy emphasis on culture, uh, in-house hiring. 62 00:02:25.065 --> 00:02:27.045 We also have no employees overseas. 63 00:02:27.205 --> 00:02:30.005 I hire everyone right here domestically in the 64 00:02:30.005 --> 00:02:33.405 United States, paying high salaries, good commissions, 65 00:02:33.405 --> 00:02:35.125 incentivizing the, the best 66 00:02:35.125 --> 00:02:37.285 and the brightest within our borders to, 67 00:02:37.305 --> 00:02:39.285 to really get the job done well. 68 00:02:39.705 --> 00:02:42.045 Um, and that's not a, a, a political statement. 69 00:02:42.045 --> 00:02:43.805 It's more of just the fact that I, 70 00:02:43.925 --> 00:02:45.965 I do wanna support people here in my, in my country 71 00:02:46.025 --> 00:02:48.605 and help, uh, uh, you know, um, 72 00:02:49.515 --> 00:02:50.965 provide as many jobs as I can. 73 00:02:51.085 --> 00:02:52.845 I think there's a powerful responsibility we have 74 00:02:52.845 --> 00:02:56.245 as executives and owners to, you know, give good livelihoods 75 00:02:56.245 --> 00:02:57.885 and, and, and support people and, and, 76 00:02:57.945 --> 00:02:59.365 and in their own personal journeys. 77 00:02:59.365 --> 00:03:01.725 But that being said, circling back without, uh, 78 00:03:01.725 --> 00:03:05.205 getting too sidetracked, why I think we stand out and, 79 00:03:05.205 --> 00:03:07.885 and have that incremental, uh, gain over 80 00:03:08.155 --> 00:03:09.485 what our competitors 81 00:03:09.785 --> 00:03:12.045 and the general collections businesses are doing, 82 00:03:12.265 --> 00:03:14.205 is the fact that we truly do focus 83 00:03:14.205 --> 00:03:17.125 and emphasize the, the in-office culture. 84 00:03:17.465 --> 00:03:21.685 And that just gets my, my team very much propelled in the, 85 00:03:21.685 --> 00:03:24.125 in the right direction every day, every week to, 86 00:03:24.185 --> 00:03:26.925 to go the extra mile, uh, in the business. 87 00:03:26.925 --> 00:03:28.725 Because as you know, in collections, it's, 88 00:03:28.725 --> 00:03:31.125 it's a very, it's a tough market. 89 00:03:31.155 --> 00:03:32.645 It's a tough job in general 90 00:03:32.645 --> 00:03:35.365 because there's a huge probability factor 91 00:03:35.745 --> 00:03:39.165 and layers to the capability of collecting, right? 92 00:03:39.165 --> 00:03:41.765 Depending on how well your clients underwrite 93 00:03:41.765 --> 00:03:43.525 or our clients underwrite, um, 94 00:03:44.475 --> 00:03:46.445 that may affect our turnaround. 95 00:03:46.445 --> 00:03:48.805 And whether we are successful, we could do everything right 96 00:03:49.145 --> 00:03:51.245 and still not collect in some scenarios 97 00:03:51.245 --> 00:03:52.525 because there just isn't anything to go after. 98 00:03:52.585 --> 00:03:56.685 So, uh, you know, that, that kind of loops back to the fact 99 00:03:56.685 --> 00:03:59.005 that despite how tough it is, one 100 00:03:59.005 --> 00:04:00.645 of the biggest advantages you can have 101 00:04:00.745 --> 00:04:01.965 is effective teamwork. 102 00:04:02.175 --> 00:04:04.805 Incredible, uh, an incredible work culture 103 00:04:04.835 --> 00:04:07.645 that makes people go that extra 5%, um, 104 00:04:07.735 --> 00:04:11.285 which compounds over time to, you know, uh, yielding a, 105 00:04:11.525 --> 00:04:13.485 a huge lead, uh, in the market 106 00:04:13.865 --> 00:04:16.085 and, uh, uh, compared to our competitors. 107 00:04:16.195 --> 00:04:17.725 Well, it sounds like you're doing things right. 108 00:04:18.595 --> 00:04:19.765 Well, thank you. I appreciate your, 109 00:04:19.765 --> 00:04:21.765 your short observation. And are you 110 00:04:21.765 --> 00:04:22.765 Just saying that 'cause I'm short, 111 00:04:24.325 --> 00:04:25.365 Figuratively speaking. 112 00:04:25.475 --> 00:04:28.205 Okay. But I, I, I will say that, you know, aside from, 113 00:04:28.745 --> 00:04:31.445 I'm always trying to stay ahead of the game as well in terms 114 00:04:31.565 --> 00:04:33.565 of my knowledge of the industry, like Sean, like you said, 115 00:04:33.565 --> 00:04:35.525 Sean, I follow Sean very diligently. 116 00:04:35.765 --> 00:04:37.205 I happen to have seen the CFPB tip 117 00:04:37.205 --> 00:04:38.285 line before he posted about it. 118 00:04:38.745 --> 00:04:41.605 Uh, and I saw where he got it from and he commented 119 00:04:41.605 --> 00:04:42.725 and then posted it himself. 120 00:04:42.785 --> 00:04:45.325 So one might even say I might be ahead of the game. Oh, 121 00:04:45.755 --> 00:04:47.885 Sean, you might have competition. You didn't hear it from 122 00:04:47.885 --> 00:04:48.885 Me. Actually, you 123 00:04:48.885 --> 00:04:50.285 did hear it from me right here live. 124 00:04:50.545 --> 00:04:52.525 Uh, so, uh, I'll leave it to Keith 125 00:04:52.525 --> 00:04:54.005 to decide if he wants to edit that out or not. 126 00:04:54.915 --> 00:04:56.485 Well, thank you so much for joining me, 127 00:04:56.505 --> 00:04:58.285 and there's still more to come from Miami. 128 00:04:59.475 --> 00:04:59.765 Okay.