Financial Advisor Success

Ep 234: Charging Advice Fees To Help Clients Change Their Money Script with Yohance Harrison

Jun 22, 2021

Yohance Harrison, founder of Money Script Wealth Management, helps clients change their money scripts to align with goals. He uses a unique subscription fee model and taps into referrals for growth. The podcast covers transitioning to a high-income job, different tiers of service, their business model and services, insurance types, building relationships through referrals, and defining success in problem-solving.

01:44:26

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Episode guests

Yohance Harrison

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Episode notes

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Quick takeaways

Helping clients identify and change their money scripts to align their financial decisions with their goals.

Serving upwardly mobile young healthcare professionals, particularly physicians, by navigating financial challenges and managing sudden income increases.

Using a mix of client tiers based on needs and providing financial literacy education.

Focusing on building lasting relationships, being adaptable to change, and measuring success by the value created in clients' lives.

Deep dives

Client focus on changing personal money scripts

Johann Terreson helps clients identify and change their personal money scripts to make better financial decisions aligned with their goals.

Introduction

3min

Money Scripts and Financial Decision Making

9min

Transitioning from Student to High-Income Job

23min

Different Tiers of Service and Client Challenges

17min

Business Model and Services

11min

Insurance Types and Philosophy

3min

Building Relationships Through Referrals

17min

Building a Team for Growth

17min

Defining Success Through Problem Solving and Value Creation

6min

Yohance Harrison is the founder of Money Script Wealth Management, an RIA based out of Texas that offers ongoing financial planning services to 225 young healthcare professionals. Yohance uses a unique model of monthly subscription fees and charging for subsequent implementation, and his zone of genius is helping his clients identify and change their personal money scripts to better align their financial decisions with their goals.

Listen in as Yohance shares how he has tapped into the power of referrals to build his client base and dives into why he uses a mix of client tiers to profitably serve clients while also meeting their unique needs. He also talks about how he helps clients identify and change their personal money scripts so they can better reach their financial goals, and what he sees as lacking in the financial planning industry when it comes to attracting diverse talent.

For show notes and more visit: https://www.kitces.com/234

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Financial Advisor Success

Ep 234: Charging Advice Fees To Help Clients Change Their Money Script with Yohance Harrison

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Client focus on changing personal money scripts

Niche serving physicians and healthcare workers

Financial planning process and subscription fee tiers

Focus on financial literacy and referrals

Importance of Being a Lifelong Learner

Building Strong Client Relationships

Embrace Change and Independence

Definition of Success

Remember Everything You Learn from Podcasts