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Riccardo Stewart: Hey, I wanna
welcome you guys back to another

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episode of the A-W-M-N-F-L Podcast.

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My name is Ricardo Stewart, and I'm your
host, and I'm joined with my A WM Friends,

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Jeff Locke, Sam Acho, and Zach Miller.

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me start today with.

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I got married in 2007, so it's been some
time, and my wife and I got married.

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We had a great place in which we lived in.

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It was the first time I ever heard
of a single family home, which was

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basically a condo and we, it was great.

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We had a nice HOA, but not too bad
swimming pool somewhere to work out.

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It was, it was amazing for us.

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But then we had a kid.

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Then we had another kid and we went
from being 24-year-old couple with

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no kids to all of a sudden 32 kids,
different jobs, different lives.

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And so that place that we thought
was amazing was no longer a fit,

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not because it in itself was bad.

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It was just things changed in our
life that we needed the upgrade.

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And I use that as a jump into
what I wanna talk about today as

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it relates to NFL athletes when
it comes to their financial team.

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We talked about in a previous episode
of going from a guy, having a guy

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who does your finances as opposed to
having a team and going, you can go

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from a level of income where maybe
having a guy might make sense for you,

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but then you add people to your life.

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You add wealth to your life, as we
said, more money means more complexity.

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And when you have that complexity,
it necessitates more clarity.

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And with that is you need multiple
human beings to be able to help you

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steward, grow and build and sustain
the wealth that you've created.

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And so I wanna talk about,
particularly that team today from a,

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from a financial, um, understanding
from an NFL athlete standpoint.

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Like what does it mean to really.

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Have a team.

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And so when we think about
a team, just make it simple.

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I wanna talk about the what, the
where, the win and why of a team.

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And so I, I usually start
with Jeff, and guess what?

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I'm starting with you today.

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When it comes to the what, like what do
we mean when we say you need a team to

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help build multi-generational wealth?

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Jeff Locke: The analogy I always
like to use is the simple one of like

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a sports team, an NFL team, right?

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You don't win a championship in
the NFL by just having a couple

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people trying to figure stuff out.

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You got a 20 plus person coaching staff.

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Right.

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You've got equipment staff, you've got
all the trainers, you've got all the

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operations people, you've got cafeteria
staff, you've got nutritionists, you've

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got, and then there's all the salespeople
and all the people behind the scenes

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making the money actually come in, right?

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You've got all these people to try and
do something really, really difficult,

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which is win a championship in football.

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And when you get up to levels of
complexity and wealth, you need a

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team like that that is experts in
all the little different areas.

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You can't just have one, two,
or three people trying to

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handle all the things you need.

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'cause your complexity means you need
the expertise everywhere and all those

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people working together on a daily
basis, not just a couple times a year.

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We talk on the daily.

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Your expert team is talking about
you, your plan, and your goals.

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Riccardo Stewart: So that's the what?

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This next one's kind of tricky, Sam.

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And this is the where, because.

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The average person, when they think
about having a financial guy or gal

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or a team, they're gonna ask their
friends in their neighborhood and

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they're gonna refer them to someone
down the street or a couple cities over.

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But I wanna ask the question of where,
where, if I'm an FL athlete, man, I'm

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in one city, I might be in another city.

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Does it matter the location of
my team and where they live?

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Sam Acho: It does, uh, but
not the way you may think.

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Y'all remember LeBron James when he was
playing with the Cavaliers and all of

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a sudden people were huge Cavs fans and
all of a sudden LeBron had the decision

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and went to Miami, and all of a sudden
people were like, no, I'm a heat fan.

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It's like, you're not a heat fan.

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You were whatever, wherever,
heat at fan, HEAT, wherever he

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at, that's who you're a fan of.

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Well, in the same way with the level
of wealth that you've earned, your

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team needs to be wherever you are at.

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Period.

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And so what that means is it doesn't
mean 24 7 following you around, but

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what it does mean is, okay, your
team needs to be in front of you

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multiple times throughout the year.

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Your team needs to be more
than just a phone call away

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because you've earned that.

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You deserve that.

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No, by the way, there's a level
of complexity that comes to your

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life and your family and the level
of range of wealth that you're

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gonna go to or maybe that you're
already at right now, or maybe like.

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Range that people don't really understand
'cause they're not experts in that field

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or maybe the industry that they're working
in when it comes to, whether it's like a

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UBS or Morgan Stanley, it's kind of like,
uh, not incentivized for your favor, but

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rather it's a publicly traded company.

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That actually is trying to
build stockholder value.

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It's like, Hey, I need somebody
that's actually where I'm at,

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that has my best interest in mind
that actually cares about me.

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And that isn't somehow
disincentivized to be able to

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maybe have a conflict of interest.

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And so when it comes to your team, no.

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If you're playing with the Cardos, your
team doesn't need to be in Phoenix.

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We're playing for the, uh, chargers
team, gonna need to be in la uh, or you

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know, Detroit, wherever you're playing.

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But your team needs to be wherever
you are at multiple times throughout

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the year, especially as things change.

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Riccardo Stewart: That's good.

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So the what?

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We need a team, multiple different roles.

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The where they just gotta be
able to be in present, in person.

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You need to see and hear from
your team to multiple members.

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Okay, Zach and I actually saved this
question for you because I do want

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to hear your answer and, and that
is that if I'm been working with

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the guy and things have been good.

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But now I'm transitioning to a
team and I, I'm coming across

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a certain level of income.

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When do I know the question of
when do I know to transition

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to a team as opposed to a guy?

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Zach Miller: Well, you've said it
before, more money, more complexity.

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Um, that wealth, it eventually creates
problems that have to be dealt with.

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So you need a team of, with the right
expertise, the right, um, backgrounds,

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the right uh, learn knowledge to be
able to navigate that with you if

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you want the best chance of success.

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So, numbers wise, what
does that look like?

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Okay.

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If you make, if you make or think you're
gonna make over $20 million in the league.

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You should have a team.

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You deserve, a team.

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You deserve.

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Like Sam said, that team is
gonna help you keep the most

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amount of wealth in your pocket.

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Pay the least amount of taxes,
deal with things like not just

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income tax, but the estate tax.

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So you make over 20 million or.

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Or more, you need to start looking at
what team can help me to achieve my goals.

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And it's no different than being a
good high school football player.

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Eventually you outgrow that.

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You go to college, you have an
entirely different staff with more

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expertise, and then guess what?

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You outgrow them and go to the NFL
with the elite of the elite coaches.

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The elite of the elite trainers.

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The elite of the elite of
everyone across the board.

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And to, to help you perform at your best.

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It's no different in with money.

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You need that team, and
it's the biggest thing.

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And the mistake I made
obviously was to wait.

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I.

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Until you already had money to start
worrying about things like that.

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If you have the ability to get ahead of
the game and address all of those things

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as early as possible, because things like
tax planning, things like investment,

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which kick off tax bills, all of these
things need to be taken care of before you

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make the money, rather than just waiting
till you get to the second contract.

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Waiting until you have earned the 20
million, get it knocked out ahead of time

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so you can kind of be that athlete, CEO,
you understand the cash flow game, you

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understand all these things so that you're
not just thrown into the, the deep end

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of the pool, essentially with wealth and
trying to figure it out as you go along.

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Riccardo Stewart: I love that.

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I love it.

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It seems like when we talk about the
what and the many roles on a team,

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like what a team is, the where being
able to be present and even like

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talking about the win, like when
is there a certain wealth level.

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Those are all really
good pragmatic questions.

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The last one is the why.

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And Jeff, I'm gonna ask you this
because this is probably moving from

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pragmatics to more philosophical of why.

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So I'd love to hear why a team.

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Jeff Locke: Simply it is to achieve the
life you actually wanna achieve, right?

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That's all your money is meant to do.

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It's a tool to achieve what you
and your family want to achieve.

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The team unlocks the ability to plan and
achieve things over multiple generations.

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Your generation, second generation,
third generation, and so on.

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A, a one person team, you know,
two or three people in an office

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somewhere, they can probably get
you, you know, through your life,

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you know, for you and your spouse.

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The clients that we work with and
the team, the family office team

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specializes, specializes in are the
people that wanna achieve things over

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multiple generations while doing all
the things Zach talked about, right?

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Reducing the amount of tax you pay,
making sure the money you earned stays

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in your pocket to do the things you
wanna do with your family, while also

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having time to spend with your family.

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Some people.

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Wanna just try to do
all this on their own.

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We see the mistakes and we see no
time being spent actually doing the

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things you want to do with them.

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Riccardo Stewart: Perfect.

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If you've just been thinking about,
or you've been thinking about moving

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for him, a guide to a team, or you
have any questions in what you heard

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today, we'd love to hear from you.

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You could reach out to
us at 6 0 2 9 8 9 5 0 2 2