Financial Advisor Success

Michelle Underwood Gass, the Founding Principal of Paradigm Advisors, discusses her innovative approach to financial planning, blending standardized processes with custom solutions for clients. She details her 5-part planning framework, including unique 'Get to Know You' meetings that uncover client priorities. Michelle explains her use of technology for seamless onboarding and highlights her dual fee structure that caters to high-earning professionals. She shares her journey from hedge fund management to finding fulfillment in building a purpose-driven advisory firm.

Peter Krull, Director of Sustainable Investing at Earth Equity Advisors, specializes in aligning investments with personal values. He shares insights on the evolution from traditional investing to sustainable practices, emphasizing the importance of ESG factors. Peter discusses how focusing on specific sectors can boost business and adapt to changing client demographics post-pandemic. He highlights practical steps for building diversified sustainable portfolios and the value of self-awareness in investment strategies, ultimately guiding clients toward investments that reflect their vision for the future.

Stacey McKinnon, COO of Morton Wealth, discusses her innovative leadership training program designed for middle managers in a rapidly growing firm. As the team expanded from 30 to 60 employees, she tackled managerial challenges, identifying common archetypes and fostering effective communication. The podcast highlights the shift to a more flexible client meeting schedule, strategies for empowering a self-sustaining team, and insights from U.S. Women's National Soccer Team Coach Emma Hayes on nurturing leadership. Stacey emphasizes the importance of adjusting management styles to maintain productivity amidst growth.

Paul G McManus, CEO of More Clients More Fun, helps financial advisors publish impactful books in just six weeks. He discusses how authorship can bolster trust and differentiate advisors in a competitive market. McManus emphasizes that books should be viewed as marketing tools rather than profit sources, and he shares effective strategies for launching and promoting them. He also explores the evolving audiobook landscape and the importance of concise writing in establishing authority. This insightful conversation reveals how leveraging authorship can significantly enhance client engagement.

Fran Toler is the CEO of Toler Financial Group, a DBA firm under the RIA Rossby Financial, that oversees nearly $200 million in assets under management for 280 households. Fran discusses how she transitioned from an independent broker-dealer model to a 'supported independence' corporate RIA platform to reduce her compliance burdens while paying lower platform fees by partnering with a service provider that doesn't charge for functions her staff already performs. This strategic move enables her to have greater autonomy without the full list of compliance responsibilities associated with complete independence. Listen in as Fran shares how her firm's public stance on progressive values has led to client and AUM growth by attracting clients and staff who share these ideals, why she offers new hires a stable base salary to ensure she includes talented candidates who might not have the financial backing to succeed in an 'eat what you kill' environment, and how she is approaching succession planning as she contemplates her eventual retirement. For show notes and more visit: https://www.kitces.com/416

Erika Wood, Director of Wealth Management at VisionPoint Advisory Group, oversees a firm managing about $3 billion in assets. She dives into innovative strategies for centralized financial planning and a ticketing workflow, enhancing efficiency across client meetings. Erika discusses client segmentation and tiered pricing based on a data-driven approach. Her insights into nurturing client loyalty and the significance of advisors finding their niche are invaluable. Plus, she shares how structured planning fosters engaged client relationships while maximizing operational effectiveness.

Eric Franklin, Managing Partner of Prospero Wealth in Seattle, shares his journey of accelerating AUM to $50 million by honing in on tech employees' unique needs. He discusses his innovative approach to financial planning, breaking it into manageable segments for busy clients. Technology plays a key role, enhancing communication through tools like Right Capital and personalized video updates. Franklin emphasizes the importance of goal-setting, tailored advice for tech-specific concerns, and cultivating a niche market to drive growth.

Kevin Leahy, CEO of Connecticut Wealth Management, shares insights from his firm's innovative training program that successfully nurtures talent straight from college. He emphasizes the importance of structured onboarding, focusing on both technical skills and communication. Leahy discusses the challenges of attracting younger advisors amid retirements and highlights the benefits of hiring in cohorts. He also elaborates on maintaining core values during growth and fostering strong client relationships, showcasing how effective training can create a robust advisory talent pipeline.

Anjali Jariwala, Founder of FIT Advisors, specializes in serving physicians with complex tax needs and small business owners. She shares how she tripled her revenue from $250,000 to $750,000 while limiting her client base. By enhancing her services and raising fees, she justifies her value to clients. Anjali discusses the strategic shift to niche content marketing, like blogging and podcasting, even during COVID. She emphasizes the importance of financial planning tailored to high-income earners and reflects on her evolving definition of success, prioritizing personal fulfillment alongside business growth.

Larry Kriesmer, Chairman of Measured Risk Portfolios, shares insights on managing market risk through innovative investment strategies. He discusses how to gain client comfort by allocating 85% of funds in safe Treasuries while using options to enhance returns. Larry highlights the tax advantages of options trading, the psychological aspects of investing during volatility, and the importance of customized risk strategies. He also reflects on the challenges of building an advisory firm and the lessons learned from the 2008 financial crisis.