Financial Advisor Success

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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.

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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Location:

United States

Genres:

Business & Economics Podcasts

Description:

Language:

English

Episodes

Ep 103: Finding Success As A Great Financial Planner Without The Need For Business Development Or Partnership with Kathleen Kenealy

12/18/2018

My guest today is here to talk about a kind of success that hasn’t been covered much on the podcast: building a career within a larger firm instead of going independent. Kathleen Kenealy is the Managing Director and Senior Wealth Advisor for Boston Private Wealth—a private bank and trust company that oversees nearly $8 billion of assets under management—and while she manages more than $300 million for seventy-five client households, she isn’t actually responsible for bringing in clients....

Duration:01:51:59

Ep 102: Transitioning From Wirehouse To Independence with Michael Henley: Is The Grass Really Greener?

12/11/2018

There has been a lot of buzz over the past couple of years about the breakaway trend that has seen sizeable advisory firms moving away from wirehouses, and my guest today very recently went through that process himself. After spending the first decade of his career at Merrill Lynch, Michael Henley moved on to become co-founder and CEO of Brandywine Oak Private Wealth, an independent advisory firm that manages more than $500 million of client assets, at just thirty-four years old. In this...

Duration:01:51:03

Ep 101: Financial Advisors As Adherence Partners To Deliver Advice That Actually Sticks with Moira Somers

12/4/2018

My guest today comes from a different background than my usual guests, and she’s here to answer the fundamental question of why clients sometimes don’t take the advice we give them. Dr. Moira Somers is a clinical neuropsychologist who studies the complexities of how hard it is for people to change their behaviors, especially when it comes to money. Moira has applied her financial psychology expertise not just to consumers themselves, but also to teaching advisors how to better deliver advice...

Duration:01:48:32

Ep 100: Scaling A Financial Life Management Firm By Starting With Client Intentions Instead Of Goals with Joe Duran

11/27/2018

Joe Duran is the founder and CEO of United Capital, a national independent RIA that oversees nearly $25 billion of assets under management and consistently ranks as one of the nation's fastest-growing wealth counseling firms. However, Joe doesn’t view his firm as being in the wealth management business; he sees it as being in the financial life management—or FinLife—business, because, as he puts it, the primary focus of the company is to help clients live richly, not die richly. In this...

Duration:01:50:31

Ep 099: Finding Better Alignment Of Values And Belief Systems By Focusing On A Religious Niche with Rob West

11/20/2018

As advisors, many of us have been taught that it’s a bad idea to discuss religion or politics with clients, but my guest today disagrees with this conventional wisdom. In fact, he has found that focusing on religion has actually been good for business. Rob West is the president of Kingdom Advisors, a membership organization that supports financial advisors who want to serve Christians as their niche market segment and boasts 70% growth over the last five years. In this episode, Rob shares...

Duration:01:24:35

Ep 098: Deepening Client Relationships With A Political Niche To Find Shared Beliefs with Zach Teutsch

11/13/2018

My guest today has not only gone against the conventional wisdom of never talking politics with clients, but he’s based his entire business on that very subject. Zach Teutsch is the founder of Values Added Financial, an independent RIA that focuses on working with progressive Democrats. And while this undoubtedly drives some prospects away, it has also quickly accelerated the growth of his firm, which has reached more than $300,000 in recurring retainer fees in less than 18 months. In this...

Duration:01:53:46

Ep 097: Transitioning From Financial Coach to Financial Planner Serving Underserved Communities with Phuong Luong

11/6/2018

My guest today brings a very different perspective to the show, not just because of the clients she works with and how she runs her practice, but also because of her unusual path into the industry. After transitioning from working as a math teacher to offering financial coaching and counseling to doing financial planning work, Phuong Luong founded Just Wealth, a virtual, fee-only, hourly financial planning practice focused on working with younger clients who are still in the wealth-building...

Duration:01:54:22

Ep 096: The 7 Pillars Of Running An Advisory Firm Like A Real Business with Stephanie Bogan

10/30/2018

Stephanie Bogan is a successful practice management consultant who teaches advisors how to run an advisory business as a business. After building and selling her first consulting firm, Stephanie has gone on to found a new one called the Limitless Adviser Coaching Program, not because she needed to do so, but as a way to have a greater positive impact on the advisor community. In this episode, Stephanie shares what she calls the seven pillars of building and running a successful advisory...

Duration:01:47:15

Ep 095: The Never-Ending Process Of Iteratively Building An Advisory Firm with Linda Lubitz Boone

10/23/2018

My guest today has seen what it’s like to build an advisory business and what it’s like to build a business for advisors. Previously a co-founder of IPS Advisor Pro—the first software for doing investment policy statements in a standardized way—Linda Lubitz Boone is now the founder of The Lubitz Financial Group, an independent RIA in that oversees nearly $250 million of AUM for 125 affluent clients. Yet, despite having reached a phenomenal level of success, Linda continues to proactively...

Duration:01:40:30

Ep 094: Crafting Your Optimal Solo Practice By Simply Charging What You're Worth with James Osborne

10/16/2018

Today’s guest has built a high-margin solo practice with quite an unusual structure. The founder of Bason Asset Management, James Osborne grew his advisory firm to over $225 million of AUM and nearly $400,000 of revenue by charging his clients a simple flat fee of $4,800—regardless of their assets. And he managed to do so by the age of thirty-five. In this episode, James shares why he decided not to follow the traditional AUM model, as well as the benefits of his flat-fee approach. Listen...

Duration:01:40:45

Ep 093: Building A High-Income Lifestyle Practice Efficiently By Running It Like A Real Business with Sunit Bhalla

10/9/2018

My guest today has one of the most fascinating practices and niches in the advisor space. Sunit Bhalla is the founder of Oak Tree Financial Planning, a solo advisory firm that oversees more than $40 million in assets under management in a hyper-targeted niche of engineers. A former engineer himself, Sunit has been able to build nearly $300,000 in revenue—with an 85% profit margin—by working with just 17 affluent clients. In this episode, he shares how he built his highly efficient solo...

Duration:01:39:19

Ep 092: Taking More Vacation Time By Standardizing Workflows And Processes In Your Advisor CRM with Jennifer Goldman

10/2/2018

Today’s guest is an expert at operations and systems. Jennifer Goldman is the founder of an eponymous practice management consulting firm that works intimately with advisory firms on their operations, technology, workflows, and processes. After starting her career as a financial advisor and transitioning to operations leadership roles at two more advisory firms, Jennifer ultimately decided to go out on her own as a consultant. In this episode, Jennifer shares her personal journey to...

Duration:01:39:39

Ep 091: Increasing The Value Of Advice By Focusing On Life-Centered Planning For Transitions Not Goals with Mitch Anthony

9/25/2018

My guest today trains and coaches financial advisors on how to ask the right questions in order to have better conversations with clients. Mitch Anthony is the co-founder of ROLAdvisor, a coaching community that helps practices transform into Life-Centered Planning firms. With his truly unique gift for finding the right words for effective client conversations, Mitch describes the value of financial planning itself based on six principles that all advisors should take into account. In this...

Duration:01:42:22

Ep 090: Scaling An Advisory Firm Beyond Yourself By Systematizing The Soft Skills with Julie Murphy

9/18/2018

My guest today has not only had a unique journey into the financial planning world, but she also brings a very different approach and perspective to the field. Julie Murphy is the founder and Chief Visionary Officer of JMC Wealth Management, a dual-registered advisory firm that serves more than 200 clients with $200 million of AUM—on top of generating nearly $300,000 a year in recurring planning fees. With financial conversations that are heavily focused around the intersections of money,...

Duration:01:37:55

Ep 089: The Truth About Advisor Marketing And The Scalable Delivery Of Financial Advice with Ric Edelman

9/11/2018

My guest today has built one of the largest successful advisory businesses in the country. Ric Edelman is the founder and executive chairman of Edelman Financial Services, a mega-independent RIA with more than $22 billion in AUM, with 165 advisors serving 36,000 clients across 43 office locations from coast to coast. After starting out like any other financial advisor—selling mutual funds in the 1980s as an individual advisor—Ric has spent the last thirty years ultimately building a...

Duration:01:41:44

Ep 088: Learning A More Genuine Sales Conversation Approach To Better Turn Prospects Into Clients with Nancy Bleeke

9/4/2018

Today we’re going to talk about a topic that makes many financial advisors cringe: sales. But despite the negative reaction many people within the industry have to this topic, my guest today is here to explain why “sales” actually isn’t a dirty word. Nancy Bleeke is the founder of Sales Pro Insider, a training platform for financial advisors that teaches how to better turn prospects into actual clients, and she’s here today to share how to take a comfortable and ethical approach to selling...

Duration:01:51:20

Ep 087: Going Independent To Run Your Advisory Firm With The Systems And Clients You Want with René Nourse

8/28/2018

My guest today has had quite an unusual path through the industry. After building a successful practice at a wirehouse for the first 20 years of her career, René Nourse went independent so she could use the system she wanted to use to build with the type of clientele she wanted to serve. Now the founder of Urban Wealth Management—an independent RIA in the Los Angeles area that manages nearly $120 million of AUM for more than 200 clients—René is focused on serving her niche working with...

Duration:01:41:44

Ep 086: Mastering Marketing As A Solo Advisor By Simply Sharing Your Authentic Self with Eric Roberge

8/21/2018

Eric Roberge is the founder of Beyond Your Hammock, an independent RIA that specializes in financial planning services for high-income young professionals in their 30s and 40s. In just five years, Eric propelled his advisory firm from $0 to $300,000 of revenue with a unique marketing approach that's earned him a fair share of criticism along the way. In this episode, he shares how his unusual marketing process works, as well as why it serves as the ultimate differentiator for his business....

Duration:01:29:50

Ep 085: Boosting Firm Productivity With A Financial Planning Resident Program With Elissa Buie

8/14/2018

My guest today has been in the financial planning industry for 35 years, and has been incredibly active in the profession. In addition to serving as CEO of Yeske Buie, an independent RIA that manages nearly $750 million in AUM for 240 clients, Elissa Buie sits on the Cornerstone Advisory Board of the McIntire School of Commerce at the University of Virginia, serves as a Dean for FPA's Residency Program, and holds an appointment as Distinguished Adjunct Professor in Golden Gate University's...

Duration:01:14:22

Ep 084: Re-Energizing After A Mid-Career Crisis With A Focus On Next Generation Talent Development With Diane Compardo

8/7/2018

Diane Compardo is a partner and team leader at Moneta Group, an independent RIA with 40 partners and nearly $20 billion of assets under advisement. Now the leader of a 16-person team with four partners and $1.4 billion of AUA, Diane shifted gears after nearly two decades of building an incredibly successful advisory practice as a way to re-energize herself after a mid-career crisis. In this episode, she shares the details of her trailblazing career path to working her way up to partner,...

Duration:01:41:11