Financial Advisor Success Ep 168: Building An Advisory Firm That Can Be Sold Even When Your Name Is Still On The Door with Erin Botsford
Mar 17, 2020
Erin Botsford, founder who grew Botsford Financial Group to nearly $1B AUM and later sold it while teaching advisors her model. She discusses shifting from lead advisor to CEO, testing systems by stepping away, and building repeatable client handoffs. She covers prospecting despite discomfort, hiring and training young planners, and planning succession so the firm can thrive without her.
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Run Paid Team Days To Fund Work And Create Content
- Use paid client 'spend a day with my team' events as both revenue and content research, then convert proceeds to a cause to increase meaning.
- Botsford charged $3,000, provided team Q&A, reused submitted questions to create course content and donated proceeds to an orphanage.
Make Clients Team Dependent To Preserve Value
- A firm’s sale value collapses when clients are dependent on one advisor; making clients used to a team preserves value and buyer options.
- Botsford sold at full value and clients didn’t notice her leaving because they had long worked with the team, not just her.
Sunday Night Review To Prevent Fires
- Maintain rigorous weekly oversight even after delegating client meetings by reviewing every meeting download each Sunday night.
- Use that review to set concrete Monday priorities so you can catch small issues before they become fires.
