Ep 391: Improving Efficiency (In A Solo Practice) By Eliminating What Clients Don’t Really Care About Anyway with Christopher Jones
Release Date: 06/25/2024
Ep 440: Making Client Meetings More Consistent Across Multiple Advisors By Utilizing A “Money Personality” Assessment with Nina Hajjar
Financial Advisor Success
What if you could decode a client’s financial behavior before the first meeting? Nina Hajjar has done just that by creating a custom “money personality” assessment. This innovative tool helps her advisory team better understand client behavior, tailor communication styles, and deliver more personalized, consistent service across their $500-million practice. Nina is a partner at Stratos CA in Los Angeles, and she joins the show today to share how her framework transforms the planning process, complements traditional risk analysis, and even shapes advisor training through what she calls...
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Ep 439: Scaling Financial Planning With Monday.com As A Project Management Hub In Lieu Of Wealthbox CRM with Alvin Carlos
Financial Advisor Success
Alvin Carlos made a strategic decision to build internal efficiency and client accountability into the heart of his planning process—a move that not only streamlined how his team manages financial plans and client tasks, but also helped him scale. Turning Monday.com into the operational core of his firm, he has carved out a niche in serving younger clients profitably, while keeping his tech stack lean and highly functional. Alvin is the CEO of District Capital Management, an RIA based out of Washington, D.C., that generates $850,000 of annual, primarily retainer-based, revenue serving 155...
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Ep 438: Boosting Client Retention And Satisfaction By Asking Better Questions As Your Authentic Self with Nikki Savage
Financial Advisor Success
In this episode, financial advisor Nikki Savage discusses her approach to enhancing client retention and satsifaction by engaging in thoughtful, intentional relationship-building—specifically asking deep questions that uncover her clients’ true needs and using that insight to create highly personalized experiences. Listen in as Nikki reflects on filtering feedback to stay true to her values and how building her practice authentically has been at the center of her success. She also explains why a strong advisor-client fit is essential, how she addresses client misconceptions to maintain...
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Ep 437: Becoming An IRA Expert To Differentiate By Charging The Highest Fee Instead Of The Lowest with Ed Slott
Financial Advisor Success
After the 1986 Tax Reform Act, Ed Slott made a strategic decision to specialize in IRAs—a move that not only set him apart in a niche field, but also helped him build a nationally recognized reputation as a leading expert. By leaning into his niche, he intentionally set himself apart from generalists by charging more to reflect the unique value he delivers. Today, Ed is the President of Ed Slott and Company, a financial education firm based in Rockville Centre, New York, offering seminars and newsletters for both financial advisors and consumers, with a particular focus on IRAs. In this...
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Ep 436: Hiring A Branding Firm To Figure Out The Best Way To Connect With Your Ideal Clients with Nicole Gopoian Wirick
Financial Advisor Success
Nicole Gopoian Wirick is the President of Prosperity Wealth Strategies, an RIA based out of Michigan that oversees $70 million in assets under management for 40 households. What’s unique about Nicole is how she hired a branding consultant early on to develop a clear brand identity that reflects her financial planning philosophy and resonates with her ideal clients. This brand now acts as a filter for deciding which marketing opportunities are worth pursuing, helping her stay focused and aligned. Listen in as Nicole shares how she developed a distinct brand identity by first exploring her...
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Ep 435: When The Next-Gen “Wealth Builder” Offering Becomes The Main Driver Of Growth For A $1B+ Advisory Firm with Gideon Drucker
Financial Advisor Success
Gideon Drucker is the CEO of Drucker Wealth, a hybrid advisory firm based out of New York City that oversees approximately $1 billion in assets under management for 800 client households. What’s unique about Gideon is how he launched a “Wealth Builder” service model to support high-income next-gen clients—within a firm traditionally focused on retirees. In just five years, the offering has added 275 client households and become the primary engine of growth for Drucker Wealth. Listen in as Gideon shares how he structured his firm’s Wealth Builder division with a high...
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Ep 434: Attracting HNW Clients By Focusing Not On Estate But Legacy Planning Instead with Vanessa N. Martinez
Financial Advisor Success
Vanessa N. Martinez is the CEO of Expressive Wealth, an RIA based out of Chicago that oversees $135 million in assets under management for approximately 70 client households, including 10 ‘core’ ultra-high-net-worth families. What’s unique about Vanessa is how her firm goes beyond traditional estate planning to help high-net-worth clients engage in in-depth legacy planning. This approach ensures clients pass down not just their assets, but also the values and principles that helped them build their wealth. Listen in as Vanessa shares how she guides clients through a multi-meeting...
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Ep 433: When You 10X Your Advisory Firm To Over $20M Of Revenue… And Want To 10X Again with Cameron Passmore
Financial Advisor Success
Cameron Passmore is the CEO of PWL Capital, a wealth management firm based out of Ottawa, Canada, that oversees just over $5 billion Canadian dollars (or approximately $3.5 billion U.S. dollars) in assets under management for 2,400 client households. What’s unique about Cameron is that after growing his firm’s revenue from $2 million to over $20 million as an independent firm over the past decade, he recognized that the next phase of growth required a different approach. By combining with a larger financial conglomerate, he positioned the firm to pursue another 10X growth opportunity in...
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Ep 432: Crafting ‘Input Deliverables’ That Show Financial Planning Value To Clients Without Creating Busy-work with Seth Scott
Financial Advisor Success
Seth Scott is the founder of Heartwood Financial Planning, an advisory firm in Fresno, California that manages $100 million in assets for 850 client households. What makes Seth’s approach unique is his development of an “input deliverable” that simplifies tax planning for his ideal target client, allowing him to demonstrate value without creating time-intensive, custom reports for each individual. By offering this tool, he not only saves time, but also builds trust with prospective clients who may later seek more comprehensive financial planning services. In this episode, Seth also...
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Ep 431: Successfully Navigating Money Conflicts Within Client Couples with Nick Rodkin
Financial Advisor Success
Nick Rodkin is the managing partner of Stoic Financial, an LPL-affiliated advisory firm based in Florida that oversees $107 million in assets under management for 70 client households. What’s unique about Nick is that after nearly 15 years as a financial advisor, he pursued a master’s degree in marriage and family therapy to enhance his ability to help couples resolve financial conflicts. This additional expertise allows him to address relationship dynamics that may hinder financial decision-making and the implementation of his financial planning recommendations. Listen in as Nick shares...
info_outlineChristopher Jones is the Founder of Sparrow Wealth Management, an RIA based out of Orlando that oversees approximately $110 million in assets under management for 69 households. Chris has distinguished himself by building a highly efficient solo practice that operates under 25 hours per week, enabling him to spend more time with his family. He achieved this by concentrating solely on the most crucial financial planning tasks for his clients—and outsourcing or eliminating all other activities.
Listen in as Chris shares how he streamlines his financial planning process by collaboratively working through plans during annual meetings, focusing on clients’ goals instead of detailed cash flow analyses, and managing cash requests through a single annual distribution. He explains his efficiency improvements through a curated tech stack of specialized AdvisorTech products and the strategic decision to manually update client balances, a move away from excessive customization that has significantly grown his AUM. We also discuss how transitioning to a remote practice has allowed Chris to live closer to family, how he generates referrals from well-connected clients, and his approach to managing perfectionism by outsourcing tasks to alleviate time constraints and reduce anxiety.
For show notes and more visit: https://www.kitces.com/391