Financial Advisor Success
The Financial Advisor Success podcast brings you real success stories and insights from the most successful financial advisors, and leading industry consultants, about how to take your advisory business to the next level. Get a glimpse of what it's like behind the scenes building a successful advisory business, and how entrepreneurial advisors navigate the inevitable highs, and lows, of growing a firm. Whether you're a new financial advisor trying to get started on the right foot, or an experienced advisor who's hit a wall, we're here to give you the insights and inspiration you need to break through and reach the level of success you want to achieve. Subscribe to the show, and get even more at the leading industry blog Nerd’s Eye View at www.Kitces.com.
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Ep 381: Helping Clients Go Beyond The Plan To Actually Implement As A Fractional Financial Behavior Officer with Ashley Quamme
04/16/2024
Ep 381: Helping Clients Go Beyond The Plan To Actually Implement As A Fractional Financial Behavior Officer with Ashley Quamme
Ashley Quamme is the Founder of Beyond The Plan, a consulting firm based out of Georgia that offers a Fractional Financial Behavioral Officer service, including consulting and training to advisory firms for new or existing clients. What sets Ashley apart is her expertise in psychology and couples therapy, which enables her to assist clients in managing their financial relationships and also equips advisors with strategies to overcome client obstacles. Listen in as Ashley shares insights into her work with advisory firms and her unique approach to understanding financial behaviors and biases. You'll learn how this has been instrumental in advising on challenging client situations, the ups and downs she experienced launching a consulting practice during the COVID-19 pandemic, and the tools she uses to enhance clients' self-awareness regarding their money mindset. For show notes and more visit:
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Ep 380: Expanding Capacity For $500M Of Organic AUM Growth In Just 4 Years By Increasing The Density Of Team Talent with Andrew Leonard
04/09/2024
Ep 380: Expanding Capacity For $500M Of Organic AUM Growth In Just 4 Years By Increasing The Density Of Team Talent with Andrew Leonard
Andrew Leonard is the Managing Partner of Geometric Wealth Advisors, an RIA based out of Washington, D.C. that oversees approximately $750 million in assets under management (AUM) for 200 clients. Andrew's firm stands out for tripling its AUM in four years, achieving this growth by mirroring the management consulting approach of their clientele—focusing first on scaling their team's talent density through careful hiring and training, then determining the number of new clients they can onboard annually based on the team's growth capacity. Listen in as Andrew shares insights on Geometric's growth strategies, from adopting management consulting firm lessons for hiring and training to the early appointment of a COO for overcoming people-management hurdles. We also discuss how he maintains a vibrant company culture virtually, provides high-touch services to affluent clients, and integrates unique investment opportunities—all while navigating the firm's expansion through the ‘dangerous middle’ from $200 million to $2 billion in AUM. For show notes and more visit:
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Ep 379: Creating A Client Deliverable That Focuses On Behavior Over Returns With Custom Intelligrations with Hans Blake
04/02/2024
Ep 379: Creating A Client Deliverable That Focuses On Behavior Over Returns With Custom Intelligrations with Hans Blake
Hans Blake is the founder of Intelligent Investing, an RIA based out of South Carolina that oversees $50 million in assets under management for 40 households. What’s unique about Hans is how he developed Intelligrations, a financial dashboard software that simplifies clients' financial data into a single-page, comprehensive visual overview of their assets, through his desire to create a more centralized dashboard for his clients and his deep fascination of technology as a behavioral finance tool. Listen in as Hans shares his journey from the initial concept of Intelligrations, focusing on high-level financial goals and guiding client behaviors, to its development into a comprehensive software integrated with industry vendors. We also discuss how he positions Intelligent Investing as a boutique advisory for high-net-worth executives—emphasizing core values to highlight the firm's approach and distinguish between long-term and short-term clients—his discovery process for understanding client finances and values, and how he has transformed initial rejections into opportunities. For show notes and more visit:
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Ep 378: Scaling Growth At 1/4th The Cost Of M&A By Wading Through The "No's" Of SmartAsset Leads with Michael Collins
02/29/2024
Ep 378: Scaling Growth At 1/4th The Cost Of M&A By Wading Through The "No's" Of SmartAsset Leads with Michael Collins
Michael Collins is the CEO and Founder of WinCap Financial, an RIA based out of Boston that oversees $80 million in assets under management for 70 client households. Since 2021, Michael has distinguished himself by growing his firm by over $10 million in assets under management annually, utilizing leads purchased through SmartAsset and investing $5,000 per month, which has allowed him to achieve a return of $10,000 in recurring revenue within less than 100 days. Listen in as Michael shares insights into his marketing and content creation strategies, including maintaining a $5,000 per month marketing budget with a 95% failure rate by focusing on the financial ROI from successful prospects, and enhancing his SmartAsset lead conversion with a time-efficient blog writing process involving ChatGPT. He also opens up about the transition's challenges and rewards, as well as the value of persistence, innovation, and the strategic use of technology in achieving business growth and client engagement. For show notes and more visit:
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Ep 377: Navigating A Major Health Event While Keeping Your Advisory Firm Going And Growing with Meredith Moore
03/19/2024
Ep 377: Navigating A Major Health Event While Keeping Your Advisory Firm Going And Growing with Meredith Moore
Meredith Moore is the Founder and CEO of Artisan Financial Strategies, a hybrid advisory firm based out of Georgia that oversees $77 million in assets under management for 120 client households. Despite facing a daunting diagnosis of a 7cm Glioblastoma tumor in her brain in 2005—which led to years of surgeries, radiation, and chemotherapy—Meredith remarkably kept her firm operational and thriving, growing it to over $1 million in annual revenue while still serving her clients. Listen in as Meredith shares how she navigated significant challenges and drove her firm’s growth through strategic early hiring, a pivotal revamp of the hiring process, and specializing in advising women senior executives and entrepreneurs. She also discusses the impact of her TEDx talk on couples’ dynamics with money and leveraging it as social proof to expand her professional network, as well as what has been crucial to her sustained success. For show notes and more visit:
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Ep 376: Accelerating Growth To 30 Clients/Month With Affordable Advice(-Only) Services Where Clients Can Keep Control with Eric Simonson
03/12/2024
Ep 376: Accelerating Growth To 30 Clients/Month With Affordable Advice(-Only) Services Where Clients Can Keep Control with Eric Simonson
Eric Simonson, Founder & CEO of Abundo Wealth, joins the show to share how his 'advice-only' RIA model revolutionized the financial planning landscape. Despite launching just four years ago, Abundo has soared to oversee $600M in assets for 420 client households, with a unique approach generating over 30 new clients monthly. In this episode, Eric shares his strategies for empowering clients to implement investment decisions, maintaining advisor workload balance, and navigating the evolution of Abundo's fee structure, all while embracing the entrepreneurial challenges and growth opportunities of building a groundbreaking firm. Listen in to hear why Eric believes the younger generation is shifting direction when it comes to giving up control of their finances, how his team schedules meetings with clients to ensure they feel comfortable, and the steps his team takes to set expectations for their clients. You'll learn about the pivotal role of referrals, the future of social media marketing, and Eric's unwavering commitment to his vision, even during the early days when financial sacrifices were necessary. For show notes and more visit:
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Ep 375: Running 20+ Client Meetings Per Week By Systematizing The Meeting Prep And Follow-Up Process with Rob Schultz
03/05/2024
Ep 375: Running 20+ Client Meetings Per Week By Systematizing The Meeting Prep And Follow-Up Process with Rob Schultz
Rob Schultz is the Senior Partner of NWF Advisory, a hybrid firm based out of Los Angeles, where he oversees nearly $500 million in assets under management for 200 households. Rob has uniquely developed a streamlined meeting process with a standardized agenda that enables him to focus on individual client needs while managing over 20 meetings weekly, ensuring his firm's growth is both sustainable and efficient. Listen in as Rob shares how he efficiently manages those meetings through a structured agenda and the assistance of a paraplanner for preparation, alongside utilizing Microsoft Word's audio transcription for quick note-taking. He also discusses his unique journey from kinesiology and med school to finding his passion in financial planning at UCLA, a field that marries his desire to help people with his affinity for numbers, and his growth strategy through acquiring retiring advisors' practices and enhancing operational efficiency with outsourced TAMP providers and ETF model portfolios. For show notes and more visit:
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Ep 374: Turning Your Marketing Loss Leader Into A Positive Revenue Diversifier By Getting Clear About The Value with Dianne Nolin
02/27/2024
Ep 374: Turning Your Marketing Loss Leader Into A Positive Revenue Diversifier By Getting Clear About The Value with Dianne Nolin
Dianne Nolin is the Managing Partner of Argent Bridge Advisors, a hybrid advisory firm based out of Virginia that oversees $500 million in assets under management for 350 households. Dianne uniquely enhanced her firm's marketing and profitability by transforming its loss-leading divorce financial planning service into a profitable revenue stream, recognizing its value and charging appropriately for the extensive time invested by her team. This shift in strategy capitalized on the existing benefits provided to clients and ensured fair compensation for their efforts. Listen in as Dianne shares her journey at Argent Bridge, from becoming aware of the firm's impactful service offerings to establishing new client relationships through divorce financial planning, which enhanced the firm's growth and referability in the divorce niche. We also discuss her transition to a more formal partnership structure, her approach to clear value communication, and the realization that her strength lies in knowing whom to consult rather than having all the answers. For show notes and more visit:
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Ep 373: Transitioning To Launch A New RIA By Taking On Passive Investors For Startup Capital With Ben Hockema
02/20/2024
Ep 373: Transitioning To Launch A New RIA By Taking On Passive Investors For Startup Capital With Ben Hockema
Ben Hockema is the Founder of Illuminate Wealth Management, an RIA based out of Illinois that oversees $100 million in assets under management for 55 households. Ben's unique journey in the advisory world saw him rise from intern to partner over 13 years at a growing firm, only to discover a cultural mismatch. He navigated this challenge by engaging passive equity investors for his new startup RIA, enabling him to acquire a portion of his client base and establish the business he truly envisioned. Listen in as Ben shares his strategic journey in the financial advisory world and details his rapid growth from $16M to $100M in assets under management in three years. You'll also hear about his evolution from intern to partner, his realization of a misalignment with his firm's vision, and how he navigated the emotional challenges of leaving long-standing business relationships, finding invaluable support in a peer advisor study group and learning the power of asking 'dumb' questions for career growth. For show notes and more visit:
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Ep 372: Quadrupling Revenue By Restructuring Your Business Model To Reflect Your Entire Value To Clients with Melody Townsend
02/13/2024
Ep 372: Quadrupling Revenue By Restructuring Your Business Model To Reflect Your Entire Value To Clients with Melody Townsend
Melody Townsend is the President of Townsend Financial Planning, an RIA based out of Kentucky that oversees $112 million in assets under management for 160 client households. Embracing a transformative business model, Melody's strategy centered around providing a comprehensive suite of services, blending financial planning with investment management. This significant shift from a fee-based to a value-based model underpinned the firm's remarkable growth trajectory, leading to a near-million-dollar revenue stream. Listen in as Melody shares the intricacies of her 20-year journey, detailing the pivotal transition from financial planning to a more inclusive wealth management approach, and how this strategic shift not only quadrupled the firm's revenue, but also enhanced the quality of client services. The discussion also covers the challenges of scaling a business, the importance of team building, and the evolution of Melody's role as a leader and advisor in the financial industry. For show notes and more visit:
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Ep 371: Pairing Equity Appreciation Rights With Partnership Equity To Retain Long-Term Advisor Talent With David Savir
02/06/2024
Ep 371: Pairing Equity Appreciation Rights With Partnership Equity To Retain Long-Term Advisor Talent With David Savir
David Savir is the Co-Founder and CEO of Element Pointe Family Office, a fee-only RIA based out of Miami that oversees almost $1.6 billion in assets under management for 50 client households. David's unique approach at Element Pointe, developed over eight years and catering to high- and ultra-high-net-worth clients, involves an Equity Appreciation Rights plan that allows team members to share in the firm's growth. After a 3-4 year vesting period, key members can invest their earnings into becoming future partners, gaining equity, voting rights, and a place on the management team. Listen in as David shares his journey of working with ultra-high-net-worth clients, leading to a strategic focus on this group and a move away from "emerging wealth" clients to better align with their value delivery. He also discusses Element Pointe's evolution from investment management to offering comprehensive financial planning and family office services, his transition from a corporate background at Goldman Sachs and J. P. Morgan to establishing an independent firm, and the challenges of adapting to an independent firm's demands, from team management to technology integration. For show notes and more visit:
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Ep 370: Leveraging Google Reviews To Generate Inbound Local Prospects with Tim Goodwin
01/30/2024
Ep 370: Leveraging Google Reviews To Generate Inbound Local Prospects with Tim Goodwin
Tim Goodwin is the founder of Goodwin Investment Advisory, an RIA based out of Georgia that oversees $275 million in assets under management for 370 client households. Tim's distinct approach involves a strong focus on search engine optimization, especially Google Reviews, alongside paid search ads to attract individuals actively seeking a "financial advisor near me." This strategy has resulted in a thriving prospecting pipeline, leading Tim to triple his minimum fee requirements over the past two years due to the overwhelming demand generated. Listen in as Tim shares his journey of building a pipeline for growth through a systematic approach to online reviews, resulting in a staggering 50% of his clients posting on Google Reviews, and how his marketing strategies led to a 2.5X return in client revenue. We also discuss how Tim navigated the challenges of balancing firm profitability, employee well-being, and client service, as well as his approach to hiring from his client base, strategies for establishing trust as a young founder, and the creation of Mastermind groups to combat the loneliness at the top. For show notes and more visit:
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Ep 369: Breaking Through To New Growth By Changing Your Mindset Around Hiring (Complementary) Team Members with Michelle Ogden
01/23/2024
Ep 369: Breaking Through To New Growth By Changing Your Mindset Around Hiring (Complementary) Team Members with Michelle Ogden
Michelle Ogden is the founder of Ogden Wealth, an RIA based out of Florida that oversees $50 million in assets under management for 120 households. Unique in her approach, Michelle chose a cautious and deliberate path for her business growth, avoiding rapid expansion and minimal staff reliance for over a decade. This strategy, however, led to a pivotal moment where the business's success depended entirely on her, prompting her to partner with a TAMP and subsequently more than double her business by focusing on her core strengths. Listen in as Michelle shares her initial reluctance to enter the financial industry, the pivotal moments that led her to establish her own thriving RIA, and how strategic partnerships with third-party platforms catalyzed significant growth at her firm. You'll hear about how her reputation as a trusted financial guide helped expand her client base, as well as her focus on joy in her work, overcoming management challenges, and boosting revenue without increasing workload. For show notes and more visit:
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Ep 368: Getting Real Social Media Marketing Results By Focusing On Your (Ideal) Client's Desire To Learn With Thomas Kopelman
01/16/2024
Ep 368: Getting Real Social Media Marketing Results By Focusing On Your (Ideal) Client's Desire To Learn With Thomas Kopelman
Thomas Kopelman is the Co-Founder of AllStreet Wealth, a financial planning firm for millennial business owners and those with equity comp that has quickly grown to more than $500,000 of run-rate revenue generated from serving 70 ongoing households. Thomas stands out for his effective use of social media, particularly Twitter, to attract over 170 prospects this year by sharing concise, impactful blog posts. His content, though seemingly simple, directly addresses his audience's needs, making him the go-to financial advisor when they're ready to seek advice. Listen in as Thomas shares his journey from minimal social media engagement to harnessing the power of Twitter and ultimately driving substantial growth for his firm. We also discuss how he filters prospects to ensure quality interactions, his unique financial planning approach with visually appealing, customized templates, and his evolution from intending to run a solo firm to building a supportive team, enhancing both firm growth and workplace enjoyment. For show notes and more visit:
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Ep 367: When Being In Business With Your Spouse Doesn't Work Out And You Have To Start Over With Kimberly Enders
01/09/2024
Ep 367: When Being In Business With Your Spouse Doesn't Work Out And You Have To Start Over With Kimberly Enders
Kimberly Enders is the Lead Financial Planner and Managing Partner of Enders Wealth Management, a hybrid advisory firm based out of Michigan that oversees $50 million in assets under management for 85 client households. Kimberly's unique journey in the financial industry began with rebuilding her practice from scratch after a divorce in 2015, starting with just 12 clients and $7 million in assets. Over the past eight years, she has successfully grown her business by implementing a highly customized 12-month onboarding process for new clients, fueling rapid growth through referrals. Listen in as Kimberly shares her journey of reinventing her career after leaving a joint business with her husband, focusing on her ideal clients and making it a priority to build strong advisor/client relationships. You'll hear about the lessons she learned from exploring various roles in the financial industry, the challenges she faced in starting her own advisory firm, and how her definition of success has evolved to prioritize autonomy and control over her time, rather than just financial success. For show notes and more visit:
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Ep 366: Avoiding The "Big Swap" Of Wealth And Health As Your Advisory Firm Grows with Stevyn Guinnip
01/02/2024
Ep 366: Avoiding The "Big Swap" Of Wealth And Health As Your Advisory Firm Grows with Stevyn Guinnip
Stevyn Guinnip is the founder of Grow Wellthy, a health and wellness consulting firm based out of Missouri that specializes in working with busy (but not always healthy) financial advisors. Stevyn stands out for her unique approach, blending her family background in financial advice with her extensive experience in health and well-being coaching. She focuses on addressing 'The Big Swap' phenomenon, where financial success often comes at the expense of health, impacting both the quality of life and retirement plans of financial advisors. Listen in as Stevyn shares her insights on the prevalent health issues among financial advisors, stemming from demanding work schedules and personal life pressures, and the critical need for balancing financial success with physical well-being. She also discusses how she leverages advisors' affinity for data and metrics to guide them towards healthier lifestyles, her personal journey—including a life-altering experience in Australia (which reshaped her approach to health and wellness)—and the importance of proactive health management. For show notes and more visit:
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Ep 365: Scaling Expanded Advice Services To 100+ Team Members In A $5B AUM Enterprise With Rob Nelson
12/26/2023
Ep 365: Scaling Expanded Advice Services To 100+ Team Members In A $5B AUM Enterprise With Rob Nelson
Rob Nelson is the CEO and Founder of NorthRock Partners, an RIA based in Minneapolis that oversees $5 billion in assets under management for 1,500 client households. Rob stands out in the advisory landscape by offering a wide array of services from bill paying to tax preparation, akin to a 'personal CFO'. He achieves this while maintaining competitive AUM-based fees, capitalizing on economies of scale to provide a comprehensive client experience at a cost similar to less extensive firms. Listen in as Rob shares insights into NorthRock Partners' impressive growth from $1 billion to $5 billion in AUM over six years, driven by organic growth, strategic acquisitions, and robust client referrals from high-earning individuals. He also discusses the firm's structure, which empowers advisors with centralized expert teams while maintaining direct client relationships, and his decision to partner with a holding company for long-term expansion. You'll learn about NorthRock's hiring strategies, the importance of practice for developing advisors, and Rob's belief in the firm's substantial untapped potential for future growth. For show notes and more visit:
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Ep 364: Scaling Marketing To Sell A $2.2B Advisory Firm And Advising Advisors On The Lessons Learned From Selling, with Ted Jenkin
12/19/2023
Ep 364: Scaling Marketing To Sell A $2.2B Advisory Firm And Advising Advisors On The Lessons Learned From Selling, with Ted Jenkin
Ted Jenkin is the consultant of JPTD Partners, a consulting firm based in Atlanta that helps financial advisors gather offers, negotiate, and ultimately sell their advisory firms. What sets Ted apart is his firsthand experience of selling his own $2.2 billion AUM firm, cultivated over a decade. This unique perspective as a former owner deeply influences his approach, enabling him to empathetically guide other advisors through the nuances of mergers and acquisitions. Listen in as Ted shares the intricacies of mergers and acquisitions, diving into insights from his journey of building a consulting firm and the strategies he employed, such as the 'manufactured celebrity approach', which skyrocketed his firm's success but also led to burnout. He also discusses the nuances of how buyers evaluate advisory firms, the importance of niching down for scalability, and the lessons he learned about recognizing true profit margins and the real value of a firm. You'll hear about his transition from business owner to employee post-sale, the significance of outsourcing weaknesses early on, and invaluable advice for advisors aiming to maximize their firm's value when considering a sale. For show notes and more visit:
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Ep 363: Finding The Best Networking Approach For Prospects (And New Career Opportunities) with Christa Madison
12/12/2023
Ep 363: Finding The Best Networking Approach For Prospects (And New Career Opportunities) with Christa Madison
Christa Madison is the Managing Director of Financial Planning and Business Development at Sebold Capital, a fee-only RIA based out of Chicago that oversees $300 million across more than 100 households. Christa's distinct approach lies in her adept use of business development and networking skills to rebuild her client base from scratch three times, amidst personal and professional changes. She transformed these challenges into opportunities, adapting to her evolving skills and competencies to seize larger, more profitable ventures. Listen in as Christa dives into her journey, highlighting the trials and triumphs of her initial foray into insurance sales and the pivotal role of her robust networking and follow-up strategies in rebuilding her client base through various career transitions. She also shares her belief that it takes about three years to transform initial prospecting efforts into a self-sustaining referral network, how she balanced the demands of her burgeoning career with family life, her strategic shift to the RIA channel, and how her early experiences in insurance sales fortified her skills as a financial advisor. For show notes and more visit:
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Ep 362: Developing Associate Advisor Compensation Plans And Career Tracks To Scale Capacity Past $1.5B AUM with Jeff Brown
12/05/2023
Ep 362: Developing Associate Advisor Compensation Plans And Career Tracks To Scale Capacity Past $1.5B AUM with Jeff Brown
Jeff Brown is the President of Stratos Private Wealth, an RIA based out of San Diego that oversees nearly $1.5 billion in assets under management for over 350 households. Jeff's firm stands out for its innovative career track system, which features well-defined performance indicators across three levels to systematically guide junior advisors toward becoming lead advisors. This unique structure not only clarifies the path to leadership, but also fosters the firm's ability to cultivate senior advisors from within. Listen in as Jeff discusses his firm's strategy of generating leads for advisors to enhance client retention and explores their unique performance review system alongside growth tactics like client referrals, content creation, and acquisitions. Jeff also reflects on his journey from a wirehouse to embracing the supported independence of Stratos Wealth Partners, the pivotal career lessons from a challenging partnership breakup that now guide his approach to forming partnerships and operations agreements, and the importance of setting ambitious goals early in one's career. For show notes and more visit:
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Ep 361: Scaling A $2.4B Advisory Enterprise With Debt-Financed Acquisitions Into High-Productivity Pods, With Peter Tiboris
11/28/2023
Ep 361: Scaling A $2.4B Advisory Enterprise With Debt-Financed Acquisitions Into High-Productivity Pods, With Peter Tiboris
Peter Tiboris is a Partner of Park Avenue Capital, an advisory firm affiliated with Northwestern Mutual based out of New York City that oversees $2.4 billion in assets under management for over 1,300 households. Peter and his business partner have distinctively grown their firm within the Northwestern Mutual ecosystem through organic expansion and strategic mergers and acquisitions. Their position as one of the largest Northwestern Mutual offices, coupled with their ability to leverage debt-financing, has given them a competitive edge that propels their growth. Listen in as Peter dives into Park Avenue Capital's growth strategies, highlighting their unique approach to acquisitions and the innovative bank financing arrangements that fuel their serial acquisitions. He also shares insights into the creation of 3-person advisor pods designed to enhance client capacity and the firm's commitment to a service-oriented culture that fosters client loyalty, reflects on his entry into the industry post-9/11, and breaks down his forward-thinking approach to business decisions. For show notes and more visit:
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Ep 360: Growing To 100+ Clients With $100M+ AUM With Intentionality To Leave Time For Family With Suzanne Powell
11/21/2023
Ep 360: Growing To 100+ Clients With $100M+ AUM With Intentionality To Leave Time For Family With Suzanne Powell
Suzanne Powell is a Senior Financial Advisor that oversees approximately $110 million in assets under management for nearly 150 households at Meridian Wealth Management, an RIA based out of Kentucky. Suzanne stands out for her strategic scheduling, amassing over $100M in AUM by concentrating client and prospect meetings into two 3-month periods each year, enabling her to dedicate the rest of the year to family. She minimizes time on prospecting by efficiently managing a continuous stream of SmartAsset leads with a highly automated response system. Listen in as Suzanne shares her expertise on driving client growth by managing SmartAsset's lead-generation service, setting up effective communication automations, and strategically targeting leads to amass nearly $70M in new assets. We also discuss how she balances a packed schedule of client meetings with preparation and follow-up tasks, using technology to efficiently present financial plans to save time, her method for nurturing long-term client relationships, and her philosophy on integrating work with quality family life now, rather than waiting for retirement. For show notes and more visit:
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Ep 359: Building A Financial Planning Assessment To Show Clients Progress And Value Over Time With Eric Miller
11/14/2023
Ep 359: Building A Financial Planning Assessment To Show Clients Progress And Value Over Time With Eric Miller
Eric Miller, Chief Financial Advisor and Co-Owner of Econologics Financial Advisors, joins the show today to discuss his innovative approach to financial planning. His unique Financial Prosperity Index, a comprehensive assessment covering 100 questions and 9 different domains, provides clients with a holistic view of their financial health—and helps Eric demonstrate the value of his financial planning services beyond traditional metrics like net worth and investment performance. Listen in as we discuss Eric's niche-focused practice, catering to healthcare professionals, and his successful strategies for acquiring new clients while delivering substantial value. You'll get insights into his client acquisition tactics, his evolving perspective on celebrating achievements, and his advice for young advisors on honing communication skills for a prosperous career in financial advising. For show notes and more visit:
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Ep 358: Accelerating Growth By Asking For Referrals After Celebrating Shared Success With Clients With Veronica Karas
11/07/2023
Ep 358: Accelerating Growth By Asking For Referrals After Celebrating Shared Success With Clients With Veronica Karas
Veronica Karas is a Senior Financial Advisor at CAPTRUST and works from the RIA’s Lake Success, New York office, where she oversees $360 million in assets under management for 200 households. What sets Veronica apart is her distinctive 3-question method to garner referrals from clients, centers of influence, and even prospects—all while maintaining a genuine and non-aggressive demeanor. In this episode, Veronica dives into her blueprint for onboarding new clients, leveraging a modular planning method spread over a year, and explains the firm's structure that allows associate advisors to work with multiple senior advisors, fostering a rich learning environment and high-touch client service. We also discuss her early-career challenges, her proactive strategy of daily outreach that bolstered her lead generation, and her commitment to ethical practices, even when faced with tough career decisions. For show notes and more visit:
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Ep 357: Building A High-Tech High-Touch Advisory Firm With The Modern Advisor Tech Stack With Jon Henderson
10/31/2023
Ep 357: Building A High-Tech High-Touch Advisory Firm With The Modern Advisor Tech Stack With Jon Henderson
Jon Henderson is the Founder and CIO of Echo45 Advisors. Based in Walnut Creek, California, Echo45 Advisors oversees $163 million in assets under management for more than 180 client households. What sets Jon apart is his meticulous approach to integrating technology and personalized service, culminating in a finely-tuned advisor tech stack and a dedicated "Client Concierge" team member armed with a series of checklists to ensure unparalleled client experiences. In this episode, we delve deep into Jon's journey, from his transition to his own firm after he left his more-than-$1 billion AUM team serving 420 clients at Merrill Lynch to his strategic use of technology. You'll learn about his "high tech and high touch" mindset as he expertly navigates the dynamic landscape of financial advisory and hear insights on his holistic perspective on delivering financial services in the modern age. From his pursuit of blockchain and digital asset knowledge to his unique amalgamation of cutting-edge software and personalized service, Jon's story is a testament to the coexistence of technology and human interaction in the realm of wealth management. For show notes and more visit:
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Ep 356: Scaling To (Nearly) $2M Of Revenue As A Flat-Fee, Advice-Only Firm, With Sarah-Catherine Gutierrez
10/24/2023
Ep 356: Scaling To (Nearly) $2M Of Revenue As A Flat-Fee, Advice-Only Firm, With Sarah-Catherine Gutierrez
Sarah-Catherine Gutierrez is the founder of Aptus Financial, a fee-only financial planning firm based out of Arkansas that is nearing $2 million in revenue for 480 client households. What stands out about Sarah Catherine is how she has built a multi-advisor, flat-fee, advice-only firm, challenging the industry's common reliance on AUM. Her success is attributed to sustainable marketing systems that allow advisors to concentrate solely on efficient financial planning, free from the distractions of client prospecting. Listen in as Sarah-Catherine shares her strategic approach to transparently communicate her value through her financial planning fee structure and the creation of a trust-based Center of Influence, which eliminates the stress of prospect acquisition. We also discuss her efficient onboarding process that transforms prospects into clients within just two calls, her decision to segment planning fees, and the inspiration behind her custom financial planning spreadsheet. You'll hear about her tailored cashflow strategies for new physicians, her journey in trusting her instincts as a founder, and the ways her unique marketing approach has opened doors to speaking engagements and fresh prospect avenues. For show notes and more visit:
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Ep 355: Scaling Worksite Financial Planning As An Employee Benefit For The Average Worker With Brad Arends
10/17/2023
Ep 355: Scaling Worksite Financial Planning As An Employee Benefit For The Average Worker With Brad Arends
Brad Arends is the co-founder and CEO of Intellicents, an independent RIA based out of Minnesota that oversees $6 billion in assets under management for more than 3,000 households. Brad stands out for having built a multi-billion-dollar advisory firm by offering comprehensive financial planning to large company employees as an added benefit, rather than targeting multi-millionaire clients. Listen in as Brad delves into his transition from focusing on 401(k) plan participants to expanding into wealth management, addressing the challenges of shifting advisors' mindsets and the evolution of his multi-pronged business model. We also explore the implications of the Pension Protection Act on his decision-making, his strategic move to sell a significant portion of his business to prioritize personal wealth management, and his innovative use of data to craft personalized financial plans. For show notes and more visit:
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Ep 354: Making Advisor Transitions Less Scary With Effective Transition Preparation And Support Services With Grier Rubeling
10/10/2023
Ep 354: Making Advisor Transitions Less Scary With Effective Transition Preparation And Support Services With Grier Rubeling
Grier Rubeling is the founder of Advisor Transition Services, a consulting firm based out of North Carolina that helps advisors move from one broker-dealer or custodian’s platform to another—often while breaking away to start their own firm. Grier stands out with her meticulous approach to aiding firms in swiftly transitioning custodians, a complex task both legally and emotionally. She has developed advanced, real-time Excel tools to keep advisors updated throughout the entire transition process, enabling them to resume their billing services as promptly as possible. Listen in as Grier shares her strategic approach to aiding advisors in navigating the intricate terrain of transitioning between Broker Protocol, non-Protocol, and Protocol Not Applicable (PNA) scenarios, ensuring efficient client data organization and getting advisors back to billing as soon as possible. We also discuss Grier's unique journey into the financial realm (where her intrinsic ability to streamline systems and processes established her as a distinctive expert in advisor transitions), the challenges of hiring and firing her first full-time employee, and what poses the most significant obstacle in advisor transitions. For show notes and more visit:
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Ep 353: Driving Growth By Setting A Clear Vision Of What You Do Best In Your Business(es) With Brett Danko
10/03/2023
Ep 353: Driving Growth By Setting A Clear Vision Of What You Do Best In Your Business(es) With Brett Danko
Brett Danko is the Founder of Brett Danko Educational Center, a CFP Board Education and Exam Prep Provider, and the CEO and Managing Partner for Main Street Financial Solutions, an independent RIA based out of Pennsylvania that oversees nearly $2 billion in assets under management for 1,700 households. Brett stands out for combining his love for teaching with financial expertise, creating one of the nation's leading CFP exam prep programs and growing his own RIA to $2 billion in AUM. Listen in as he shares his unique approach to CFP exam preparation, as well as insights into his hourly financial planning model and the innovative structure of his firm—which empowers advisors to own their client relationships and design their own fee schedules. You'll also hear about his personal journey from job loss and depression to renewed purpose, highlighting the importance of delegation, mentorship, and self-awareness in building a fulfilling career. For show notes and more visit:
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Ep 352: Finding Personal Scale By Leveraging Yourself Through Outsourced Delegation With Bridget Venus Grimes
09/26/2023
Ep 352: Finding Personal Scale By Leveraging Yourself Through Outsourced Delegation With Bridget Venus Grimes
Bridget Venus Grimes is the President of WealthChoice, a virtual independent RIA that oversees nearly $80 million in assets under management for 68 families, and Co-Founder of Equita Financial Network, an advisor platform that helps advisors share resources. As a solo advisor, Bridget quickly grew her firm to $77M in AUM over 7 years, but found herself stretched thin managing various business aspects while serving her clients. Instead of scaling her firm by hiring more advisors, she chose to delegate non-financial-planning tasks to virtual outsourced contractors, freeing her from day-to-day management responsibilities. Listen in as Bridget shares her journey of building her firm by outsourcing various tasks like compliance, operations, and client scheduling to focus on her niche of female executives. We also discuss her unique approach to compensation and client service, which led her to launch her own firm, and how she invested $30,000 in writing a book for credibility rather than sales. Bridget also dives into the importance of business coaching, learning not to compromise on client fit, and her decision to bring on her daughter as part of a long-term succession plan. For show notes and more visit:
/episode/index/show/fasuccess/id/28102832