Financial Advisor Success Ep 133: Joining As Sibling Partners To Launch A Joint Advisory And Accounting Firm with Danna Jacobs
Jul 16, 2019
Danna Jacobs, co-founder of Legacy Care Wealth and Inspired Vision Accounting, partners with her brother to serve high-earning next-gen clients. They discuss the unique advantages of their sibling dynamic and complementary skills in creating a blended fee model. Danna shares insights on their structured client meetings, ongoing planning processes, and how bookkeeping often transitions clients into full financial planning. She reflects on early business challenges, the importance of net worth tracking, and the balancing act of family and professional success.
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Net Worth Beats Portfolio Views For Young Clients
- For younger clients, net worth growth (including debt reduction and home equity) motivates behavior more than portfolio charts.
- Tracking percentage net worth change year-over-year sustains momentum for savings and debt payoff.
Make Clear Homework And CRM Tasks
- Track client action items through meeting agendas and a CRM, turning key takeaways into recurring tasks.
- Use a clear meeting structure: accomplishments, current agenda, and key client takeaways as homework.
Run Workshop Meetings To Complete Tasks
- When clients fall behind, run a workshop meeting where you complete action items together.
- Use collaborative sessions to guarantee execution instead of assigning more homework.