The Perfect RIA Transforming Financial Planning Practices with Sten Morgan [Episode 340]
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Dec 22, 2025 Sten Morgan, a transformative financial advisor and practice builder, shares his journey from early struggles to industry confidence. He explores the evolution of advisory practices, emphasizing effective communication as a crucial skill. Sten discusses the debate over charging fees for planning services, the psychology behind client perceptions of fees, and the importance of creating efficient systems. He also highlights the necessity of templates and actionable deliverables to enhance client engagement and maintain practice efficiency.
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Confidence Built From Real Practice
- Sten Morgan's confidence grew from years of failing as an advisor and learning from practitioners who'd built real systems.
- He transformed by copying what worked and avoiding dead-end tactics sold by outsiders.
Early Career Centered On AUM
- Matthew Jarvis describes starting in 2009 when AUM and product sales dominated the advice model.
- He felt cringey later that his value proposition was just “someone needs to manage your money.”
Show Deliverable Before Charging
- Avoid charging for vague 50-page plans without a clear deliverable or process.
- Offer a concise, demonstrable product (like a one-page plan) before asking for payment.
