Financial Advisor Success Ep 439: Scaling Financial Planning With Monday.com As A Project Management Hub In Lieu Of Wealthbox CRM with Alvin Carlos
41 snips
May 27, 2025 Alvin Carlos, CEO of District Capital Management, specializes in serving younger clients while leveraging technology for efficiency. He discusses how he transformed Monday.com into a central hub for financial planning, improving client accountability and task management. Alvin shares insights on navigating pricing strategies to enhance accessibility and implementing AI tools for streamlined operations. He emphasizes the importance of building a mission-driven firm that fosters diversity in the financial planning industry.
AI Snips
Chapters
Transcript
Episode notes
Shift to Project Management Tools
- The central hub of advisory firms is shifting from custodian platforms to planning or CRM software.
- Recently, project management tools like Monday.com are supplanting traditional CRMs to better track client tasks.
Complexity-Based, Discounted Fees
- Use a complexity-based pricing model adjusting fees based on client characteristics like stock options and tax needs.
- Offer discounts to clients with lower incomes to improve affordability while charging market rates for wealthier clients.
Mission to Serve Younger Clients
- Alvin Carlos began his advisory firm aiming to serve younger clients in their 30s and 40s, typically in wealth-building phases.
- This mission was shaped by his social justice background and desire to reach clients overlooked by typical firms.