Financial Advisor Success

Latest Episodes:

Ep 030: Self-Publishing A Book To Establish Your Authority (As A 401(k) Expert) with Josh Itzoe Jul 25, 2017

Show notes

Josh Itzoe is a CFP, AIF, and Partner at Greenspring Wealth, where he consults with corporate clients about how they can improve their 401(k) offerings.

Josh is also a self-published author and believes that publishing a book about his industry was the best business decision he's ever made.

In this episode, Josh shares how he initially got into the institutional side of financial planning and what fascinates him about helping companies hash out their 401(k) programs.

Josh also walks through the process of writing and publishing his book, and the results he saw afterward. He shares some of the best resources for those interested in the 401(k) planning space and talks about why he decided to read the entire ERISA law - which is no small feat - to gain an edge over other advisors.

Get the full show notes and transcript for this episode at: www.kitces.com/30

Ep 029: Attracting Baby Boomers Digitally To A True Retirement Decumulation Specialty with Dana Anspach Jul 18, 2017

Show notes

Dana Anspach and her firm Sensible Money have 110 full-service baby-boomer clients, $130 million AUM, and $1.3 million in annual revenue. And they do it all virtually.

In this episode, Dana talks about the structure of her firm and how she's built it into a brand that she hopes will continue long after she's gone. She also shares how many of her clients were formerly her readers, and talks about how her foundational client questionnaire, followed by a 3-meeting strategy and comprehensive financial plan, leads about 70% of prospects wanting to become full-on clients.

Be sure to listen to the end, where Dana discusses how her writing has formed the backbone of her brand and business, and the schedule she maintains to make sure it all gets done. Dana also shares many of the technological tools that allow Sensible Money to educate, service, and build trust with clients from around the globe.

Get the full show notes and transcript for this episode at: www.kitces.com/29

Ep 028: Scaling Up A $6B Independent RIA Using A Full-Time CEO As Chief Inspiration Officer with Michael Nathanson Jul 11, 2017

Show notes

Our guest today is Michael Nathanson, chief executive officer of the Colony Group. Michael's private wealth management firm has over $6 billion in assets under management and a 39% profit margin. Michael has driven this phenomenal growth through strategic acquisitions, high-level systems thinking, and targeted organic growth.

Michael walks us through how he operates as an effective CEO to nurture his seven offices, recruit top-level talent, and delegate effectively. He gets into the details of compensation, leadership and buying other firms. He also shares the company's trajectory and how it compares to other RIA practices out in the market.

Get the full show notes and transcript for this episode at: www.kitces.com/28

Ep 027: Reaching HNW Prospects Leveraging Targeted Research And Introductions with Amy Parvaneh Jul 04, 2017

Show notes

Amy works hard to help financial advisors grow through targeted referrals to high net worth individuals. She accompanies marketing skills with sales development to make sure those leads convert to clients. She calls upon her experience at Goldman Sachs accruing $50M in AUM in just 18 months through highly-targeted cold calling and emailing.

Additionally, she shares her unique methods for finding wealthy individuals. She would go so far as to take pictures of the donor lists at art museums and research the events that these wealthy donors would make great clients. Then, she would reverse engineer a pathway to connecting with them.

In this episode, Amy also covers the places, both digital and physical, she recommends visiting to meet the new rich. If you are going to crack into this population, it is better to start with people who have just come into money. They won't have as many entrenched service providers already in place.

Get the full show notes and transcript for this episode at: www.kitces.com/27

Ep 026: Stop Asking For Referrals And Improve Your Referrability Index Instead with Steve Wershing Jun 27, 2017

Show notes

Steve Wershing is a practice management and marketing consultant who teaches clients to stop asking for referrals. He believes, if you operate in a clear niche, that you will stimulate referrals from clients without solicitation.

Steve consults with advisors to clarify how their marketing materials can more clearly communicate their strengths and structure.

In this episode, Steve discusses being guilty of conflating target market with niche market. Towards the end, Steve shares how to manage a niche practice and why clients will eventually outgrow your services.

Get the full show notes and transcript for this episode at: www.kitces.com/26

Ep 025: Leveraging A TAMP To Roll Out Wealth Management Services In A CPA Firm with Tim Delaney Jun 20, 2017

Show notes

Tim Delaney had a bit of a different journey into financial planning, but his 23-year career as a CPA was excellent training. After a few years doing both taxes and planning, clients started telling him they slept better at night because of his help managing life's financial ups and downs.

In this episode, Tim shares the negative investing experience that made him want to focus on a no-selling value proposition, and how he learned not to over-explain the planning process to clients.

Be sure to listen to the end, where Tim describes the essential partnerships along the way that have allowed his business to flourish and weather several recessions, all while providing clients with excellent service.

Get the full show notes and transcript for this episode at: www.kitces.com/25

Ep 024: How Mindset Drives Success And The 7 Freedoms Of Limitless Advisers with Stephanie Bogan Jun 13, 2017

Show notes

Stephanie Bogan has achieved the level of success that most financial advisors aspire to reach. She sold her practice, Quantuvis Consulting, to Genworth Financial and now lives in Costa Rica, coaching other advisors. In this episode, she shares her perspective on growing a serious consulting business.

Stephanie attributes the rapid growth of her firm to a focus on helping other firms transform their own growth rates. She's worked with clients on business strategy, human capital, operations management, and marketing techniques, and she's developed a top reputation for coming up with valuable, tangible solutions.

Get the full show notes and transcript for this episode at: www.kitces.com/24

Ep 023: Delivering Workplace Financial Wellness With A Salaried CFP Career Path with Liz Davidson Jun 06, 2017

Show notes

Today's guest has a very uncommon structure for her financial consulting business. Liz Davidson is trailblazing a business model where her firm is paid by employers to educate and guide employees' financial lives. They are now the largest provider of workplace financial wellness programs in the business.

It has been a long process of tinkering and refining to figure out precisely how to deliver value to the wide range of employees that Financial Finesse serves. Liz explains her multichannel approach to serving clients and scaling her team's expertise.

Get the full show notes and transcript for this episode at: www.kitces.com/23

Ep 022: Serving Gen X Professionals With A Net-Worth-Plus-Income Retainer Fee Model with Jude Boudreaux May 30, 2017

Show notes

Jude's firm Upperline Financial has a unique fee structure that allows them to help clients and families of varying net worth while providing a holistic, vision-driven financial plan.

In this episode, Jude talks about how he carefully considered the decision to open his own RIA, and how he timed the transition to be able to spend more time with his family and also grow the business at a slower but more sustainable rate.

Be sure to listen to the end, where Jude talks about his upcoming merger with The Planning Center and why he's excited about the future of the business. By merging with another firm, Jude will maintain ownership of Upperline, yet be able to focus his energy on the parts of the business he loves - working with clients - and delegate those that he isn't as good at and doesn't enjoy.

Get the full show notes and transcript for this episode at: www.kitces.com/22

Ep 021: Pivoting An Existing Advisory Firm To A Niche Serving Women In Transition with Evelyn Zohlen May 23, 2017

Show notes

In today's episode, I speak with Inspired Financial founder, Evelyn Zohlen, an independent RIA in southern California. Her business is focused on working with women in transition, namely divorcees and widows. Her small, cohesive team dominates the niche and innovates constantly.

Evelyn shares the details of how she selected this niche and built her team. They have set up their fees and team to deliver over-the-top coverage to select clients and share responsibilities fairly. Some clients pay for AUM, while others pay her a retainer, which is a growing trend within the industry.

For Evelyn, driving referrals from centers of influence has been the foundation of how she has built her business. This has led her to bring $140M in assets under management in 15 years.

Get the full show notes and transcript for this episode at: www.kitces.com/21

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