376 episodes

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.

Financial Advisor Success Michael Kitces

    • News
    • 4.7 • 656 Ratings

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.

    Accelerating Growth To 30 Clients/Month With Affordable Advice(-Only) Services Where Clients Can Keep Control with Eric Simonson

    Accelerating Growth To 30 Clients/Month With Affordable Advice(-Only) Services Where Clients Can Keep Control with Eric Simonson

    Eric Simonson, Founder & CEO of Abundo Wealth, joins the show to share how his 'advice-only' RIA model revolutionized the financial planning landscape. Despite launching just four years ago, Abundo has soared to oversee $600M in assets for 420 client households, with a unique approach generating over 30 new clients monthly. In this episode, Eric shares his strategies for empowering clients to implement investment decisions, maintaining advisor workload balance, and navigating the evolution of Abundo's fee structure, all while embracing the entrepreneurial challenges and growth opportunities of building a groundbreaking firm. 

    Listen in to hear why Eric believes the younger generation is shifting direction when it comes to giving up control of their finances, how his team schedules meetings with clients to ensure they feel comfortable, and the steps his team takes to set expectations for their clients. You'll learn about the pivotal role of referrals, the future of social media marketing, and Eric's unwavering commitment to his vision, even during the early days when financial sacrifices were necessary. 

    For show notes and more visit: https://www.kitces.com/376  

    • 1 hr 32 min
    Running 20+ Client Meetings Per Week By Systematizing The Meeting Prep And Follow-Up Process with Rob Schultz

    Running 20+ Client Meetings Per Week By Systematizing The Meeting Prep And Follow-Up Process with Rob Schultz

    Rob Schultz is the Senior Partner of NWF Advisory, a hybrid firm based out of Los Angeles, where he oversees nearly $500 million in assets under management for 200 households. Rob has uniquely developed a streamlined meeting process with a standardized agenda that enables him to focus on individual client needs while managing over 20 meetings weekly, ensuring his firm's growth is both sustainable and efficient.
    Listen in as Rob shares how he efficiently manages those meetings through a structured agenda and the assistance of a paraplanner for preparation, alongside utilizing Microsoft Word's audio transcription for quick note-taking. He also discusses his unique journey from kinesiology and med school to finding his passion in financial planning at UCLA, a field that marries his desire to help people with his affinity for numbers, and his growth strategy through acquiring retiring advisors' practices and enhancing operational efficiency with outsourced TAMP providers and ETF model portfolios.
    For show notes and more visit: https://www.kitces.com/375

    • 1 hr 30 min
    Turning Your Marketing Loss Leader Into A Positive Revenue Diversifier By Getting Clear About The Value with Dianne Nolin

    Turning Your Marketing Loss Leader Into A Positive Revenue Diversifier By Getting Clear About The Value with Dianne Nolin

    Dianne Nolin is the Managing Partner of Argent Bridge Advisors, a hybrid advisory firm based out of Virginia that oversees $500 million in assets under management for 350 households. Dianne uniquely enhanced her firm's marketing and profitability by transforming its loss-leading divorce financial planning service into a profitable revenue stream, recognizing its value and charging appropriately for the extensive time invested by her team. This shift in strategy capitalized on the existing benefits provided to clients and ensured fair compensation for their efforts.
    Listen in as Dianne shares her journey at Argent Bridge, from becoming aware of the firm's impactful service offerings to establishing new client relationships through divorce financial planning, which enhanced the firm's growth and referability in the divorce niche. We also discuss her transition to a more formal partnership structure, her approach to clear value communication, and the realization that her strength lies in knowing whom to consult rather than having all the answers.
    For show notes and more visit: https://www.kitces.com/374

    • 1 hr 30 min
    Transitioning To Launch A New RIA By Taking On Passive Investors For Startup Capital With Ben Hockema

    Transitioning To Launch A New RIA By Taking On Passive Investors For Startup Capital With Ben Hockema

    Ben Hockema is the Founder of Illuminate Wealth Management, an RIA based out of Illinois that oversees $100 million in assets under management for 55 households. Ben's unique journey in the advisory world saw him rise from intern to partner over 13 years at a growing firm, only to discover a cultural mismatch. He navigated this challenge by engaging passive equity investors for his new startup RIA, enabling him to acquire a portion of his client base and establish the business he truly envisioned.
    Listen in as Ben shares his strategic journey in the financial advisory world and details his rapid growth from $16M to $100M in assets under management in three years. You'll also hear about his evolution from intern to partner, his realization of a misalignment with his firm's vision, and how he navigated the emotional challenges of leaving long-standing business relationships, finding invaluable support in a peer advisor study group and learning the power of asking 'dumb' questions for career growth.
    For show notes and more visit: https://www.kitces.com/373

    • 1 hr 28 min
    Quadrupling Revenue By Restructuring Your Business Model To Reflect Your Entire Value To Clients with Melody Townsend

    Quadrupling Revenue By Restructuring Your Business Model To Reflect Your Entire Value To Clients with Melody Townsend

    Melody Townsend is the President of Townsend Financial Planning, an RIA based out of Kentucky that oversees $112 million in assets under management for 160 client households. Embracing a transformative business model, Melody's strategy centered around providing a comprehensive suite of services, blending financial planning with investment management. This significant shift from a fee-based to a value-based model underpinned the firm's remarkable growth trajectory, leading to a near-million-dollar revenue stream.
    Listen in as Melody shares the intricacies of her 20-year journey, detailing the pivotal transition from financial planning to a more inclusive wealth management approach, and how this strategic shift not only quadrupled the firm's revenue, but also enhanced the quality of client services. The discussion also covers the challenges of scaling a business, the importance of team building, and the evolution of Melody's role as a leader and advisor in the financial industry.
    For show notes and more visit: https://www.kitces.com/372
     
     

    • 1 hr 29 min
    Pairing Equity Appreciation Rights With Partnership Equity To Retain Long-Term Advisor Talent With David Savir

    Pairing Equity Appreciation Rights With Partnership Equity To Retain Long-Term Advisor Talent With David Savir

    David Savir is the Co-Founder and CEO of Element Pointe Family Office, a fee-only RIA based out of Miami that oversees almost $1.6 billion in assets under management for 50 client households. David's unique approach at Element Pointe, developed over eight years and catering to high- and ultra-high-net-worth clients, involves an Equity Appreciation Rights plan that allows team members to share in the firm's growth. After a 3-4 year vesting period, key members can invest their earnings into becoming future partners, gaining equity, voting rights, and a place on the management team.
    Listen in as David shares his journey of working with ultra-high-net-worth clients, leading to a strategic focus on this group and a move away from "emerging wealth" clients to better align with their value delivery. He also discusses Element Pointe's evolution from investment management to offering comprehensive financial planning and family office services, his transition from a corporate background at Goldman Sachs and J. P. Morgan to establishing an independent firm, and the challenges of adapting to an independent firm's demands, from team management to technology integration.
    For show notes and more visit: https://www.kitces.com/371

    • 1 hr 29 min

Customer Reviews

4.7 out of 5
656 Ratings

656 Ratings

Taylor Demars, CFP®, MBA ,

An Industry Essential

Anyone who is serious about practice management or providing more value for clients listens to the man, the myth, the legend.

RegHess ,

The Goat

Thank you Michael Kitces for consistently helping Financial Advisors strive to do better!

pyrowoods ,

Great podcast

Everything about this podcast has helped me start my RIA business. Ideology, technical prowess, relationship building, and any other tip that’s given by him or his guests are immeasurable to the success of my firm.

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