Financial Advisor Success
Michael Kitces
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.
Episodes
Mentioned books
Jul 23, 2019 • 1h 35min
Ep 134: Positioning A Family-Owned Advisory Business For The Next Generation Of Growth with Andrew Altfest
Andrew Altfest, president of Altfest Personal Wealth Management and second-generation leader, shares insights on navigating a family-owned advisory business. He discusses how his parents' values influenced his career choice and the unique dynamics of family firms. Andrew reveals the firm's R&D focus, investing in technology like AI planning tools to enhance client services. He emphasizes a tech-enabled approach to wealth management and adapting to serve younger clients effectively, highlighting flexible digital communication methods.
Jul 16, 2019 • 1h 42min
Ep 133: Joining As Sibling Partners To Launch A Joint Advisory And Accounting Firm with Danna Jacobs
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.
Jul 9, 2019 • 1h 54min
Ep 132: Finding The Confidence To Avoid Discounting And Charge The Fee You're Really Worth with Linda Leitz
Linda Leitz, president of Peace of Mind Financial Planning and veteran advisor with a PhD, shares her insights on confidently pricing services without discounting. She discusses transitioning from a solo advisor to leading a four-person team, emphasizing the value of an integrated approach. Linda reveals her formulaical fee structure and how she combats imposter syndrome when quoting prices. She also reflects on ethical decisions in her career and the surprises of building a client-centric firm. Tune in for practical strategies on navigating financial planning practices!
11 snips
Jul 2, 2019 • 1h 40min
Ep 131: The (Nearly) $1B Solo Advisor: Scaling Up Client Focus By Outsourcing Everything Else with Dan Goldie
Dan Goldie, former president of Dan Goldie Financial Services, thrived as a solo advisor, managing nearly $900 million in assets. He shares his journey of leveraging technology and outsourcing to enhance client service without a full-time staff. Dan discusses the importance of tailored investment strategies and how personal connections with affluent clients drive growth. He highlights the balance between efficiency and customization in financial advising, revealing that an adaptable approach leads to lasting success in a competitive industry.
Jun 25, 2019 • 1h 46min
Ep 130: From Cold-Calling To Cold-Knocking And Growing An Advisory Firm Through Two Maternity Leaves with Ashley Micciche
Ashley Micciche, CEO of True North Retirement Advisors, shares her journey of balancing business and motherhood. She discusses her unique concept of 'work-life satisfaction' and how she prioritized faith, family, and work. Ashley details her evolution from cold-calling to cold-knocking to secure 401(k) clients and the strategic communication needed for maternity leave. She reflects on partnering with her father, the importance of backup advisors, and lessons learned from returning to work. Her insights are invaluable for anyone juggling family and a growing business.
Jun 18, 2019 • 1h 37min
Ep 129: Building The Lifestyle Practice Of Your Dreams By Selling Your Firm And Starting Over with Donna Skeels Cygan
Donna Skeels Cygan, founder of Sage Future Financial, shares her unique journey of building and selling her first financial advisory firm before starting anew. She reveals how deliberate client selection and balance anchor her practice, limiting her to 40 affluent clients. Donna discusses her innovative tools and virtual assistant support to maximize efficiency while maintaining high profit margins. She also touches on her strategic pricing model and the emotional aspects of client selection, all while sharing her philosophy of defining success beyond just revenue.
Jun 11, 2019 • 1h 56min
Ep 128: Advising Small Business Owners By Helping Them Increase Their Own Enterprise Value with Justin Goodbread
Justin Goodbread, founder of Heritage Investors, brings a wealth of entrepreneurial experience to the table. He discusses innovative methods for enhancing small business value and the importance of tailored financial guidance. Justin explains how breaking traditional advisory fees into monthly subscriptions benefits cash-strapped business owners. He also shares marketing strategies that attract clientele beyond his niche and reflects on the emotional hurdles faced by entrepreneurs, emphasizing the power of resilience and the true meaning of success through helping others.
Jun 4, 2019 • 1h 43min
Ep 127: Creating A Stewardship Report To Show Your Ongoing Value To [401(k) Or Other] Clients with Jania Stout
Jania Stout, Managing Director and Co-Founder of Fiduciary Plan Advisors at HighTower, shares her journey in 401(k) consulting, managing nearly $4 billion in assets. She highlights the significance of stewardship reports that showcase ongoing value to clients. Jania discusses her innovative custom CRM for reporting and the distinct fee structures she employs. Tune in to learn about her strategies for leveraging LinkedIn for business growth, navigating independence, and the competitive landscape against large firms.
May 28, 2019 • 1h 51min
Ep 126: Climbing The Path Of Personal Development To Partnership At A Large RIA with Martine Lellis
Martine Lellis, Principal and COO at Sullivan, Bruyette, Spiros & Blaney, shares her remarkable journey from associate advisor to leading her firm in a management buyout. She discusses navigating the complexities of selling and buying back the firm, the integration of tax services with wealth management, and the unique needs of affluent clients. Martine reveals insights into firm governance, leadership challenges, and her commitment to mentoring the next generation of advisors, all while emphasizing the importance of staying independent in a competitive landscape.
May 21, 2019 • 1h 49min
Ep 125: The Upside Opportunity Of Finding Out Your Advisory Firm Is Being Sold with Sabrina Lowell
Sabrina Lowell, a Certified Financial Planner™ and co-active coach, shares her journey from Mosaic Financial Partners to Private Ocean. She discusses the collaborative process of selling a firm, emphasizing the importance of cultural fit and client communication. Sabrina reveals how they vetted potential buyers using core values and her experiences maintaining client relationships post-sale. She also dives into the challenges of business development and the need for online presence, offering invaluable advice for advisors facing succession planning.
