Transitioning Client Relationships

John Mason is the President of Mason & Associates, an RIA based out of Virginia that oversees $370 million in assets under management for approximately 390 client households. What's unique about John, though, is how joining a firm that served the niche of Federal government employees allowed him to quickly accelerate his own learning curve and demonstrate his expertise early in his career as a 20-something—ultimately enabling him to more quickly begin bringing in his own clients.

Listen in as John shares how his firm's specialization in serving Federal employees allows it to operate efficiently and develop deep relationships with clients, and how his firm generates client leads through a podcast focusing on the issues facing its ideal target client. He also discusses his firm's transition from a broker-dealer to the RIA model, which boosted its per-client revenue while bringing down all-in costs for clients, how he managed the delicate process of transitioning unprofitable clients to more suitable advisors, why he thinks fee-only advisors sometimes underrate the importance of insurance planning, and more.

For show notes and more visit: https://www.kitces.com/402