Financial Advisor Success

Kristen Luke is the founder of Kaleido Creative Studio, a marketing consulting firm that specializes in multi-advisor fee-only RIAs with $100 million to $1 billion in assets under management. Today she joins the show to discuss the wheel of advisor marketing activity she has created, as well as its six core areas and what it takes to improve in each of them. Listen in as Kristen explains the importance of recognizing the triggering events that brought your clients in and why defining an ideal client profile really is essential to differentiate and build a successful marketing funnel. You’ll learn the starting steps to online marketing, why podcasts are replacing webinars and more. For show notes and more visit: https://www.kitces.com/141 

Adam Cmejla is the founder of Integrated Planning and Wealth Management, an independent RIA that oversees approximately $45 million in assets under advisement for nearly 100 clients. Over the past two years, Adam’s practice has undergone an incredible transformation, increasing their financial planning fees and growing revenue by nearly 80%. In this episode, Adam shares how his marketing process has evolved, as well as what made him decide to narrow down his focus and serve only optometrists. Listen in to discover how a shift in his mindset has helped his firm to grow phenomenally—while also allowing him to spend more time with his family—the steps he took to raise his fees for existing clients while bringing in new ideal clients, and more. For show notes and more visit: https://www.kitces.com/140 

Michele Clark is the senior portfolio manager for Acropolis Investment Management with more than 25 years of experience in financial services. From cold knocking to becoming a regional investor educational specialist and now working in investment management, Michele really has done it all within the industry. She even ran her own independent hourly financial planning practice until she recently decided to “plug-in” to a larger firm. In this episode, Michele discusses her non-traditional journey through the financial advisory industry, as well as how she managed to re-balance both her business and the work she is doing in it. Listen in as she shares her best tips for attracting clients no matter where you are, the importance of developing an expertise, and how to confront the inevitable challenges you will face when starting out on your own. For show notes and more visit: https://www.kitces.com/139 

Douglas Boneparth, founder of Bone Fide Wealth, focuses on ultra-high-income millennials and shares his journey transitioning from a traditional model to a media-driven strategy. He discusses the importance of relatability in financial planning, addressing unique challenges like student debt. Douglas highlights innovative insurance solutions, the advantages of the RIA model, and the delicate balance between professional growth and personal life. His insights are invaluable for young advisors looking to connect with a younger demographic in today's financial landscape.

Lou Tranquilli is the founder of Tranquilli Financial Advisor, an independent full-service financial firm that oversees $100 million in assets under management for 110 clients. Now focused on a niche that has helped triple his firm in under four years, Lou joins the show to discuss how his advisory firm has evolved over more than two and a half decades in business. Listen in as he explains how he is transitioning into the independent RIA channel after having started out as a traditional life insurance sales agent, as well as how he has structured his firm. You’ll get valuable tips for growing your business, hiring the right people, and more. For show notes and more visit: https://www.kitces.com/137 

Nina O’Neal is a partner and investment advisor with Archer Investment Management, a hybrid advisory firm that oversees nearly $90 million in assets under management. She joins the show today to talk about her advisory firm’s structure and why they have no plans to change it, as they don't view the hybrid model as a way to the independent RIA model. Listen in to hear Nina speak candidly about how she juggles being an advisor, a firm owner, and a parent. You’ll learn how she empowers other female advisors to establish an advisory business and balance the rest of their lives in the process, how her firm handles its mixture of fee-based advisory and commission-based brokerage business, and their plans for the future. For show notes and more visit: https://www.kitces.com/136 

Kathryn Brown is the co-founder of Morton Brown Family Wealth, a firm that oversees nearly $110 million of assets under management for 85 affluent households. With her firm now positioned for the potential of 10x growth in the upcoming years, Kathryn has overcome many challenges to get to where she is today. In this episode, she opens up about her inspirational journey, including how she persevered despite learning she had breast cancer and undergoing surgeries while she was preparing to go independent. She also discusses the playbooks that she and her partner developed for Morton Brown, why her firm decided to bring on a data geek as one of their first hires, and so much more. For show notes and more visit: https://www.kitces.com/135 

Andrew Altfest is the president of Altfest Personal Wealth Management, an independent RIA based in New York City that oversees $1.3 billion for nearly 600 affluent clients. Andrew has become the second-generation leader in his family’s business, which was started by his parents, and he joins the show to discuss the dynamics of a family business and how he is positioning the firm for the future. In this episode, Andrew explains what ultimately changed his mind about pursuing a career at his parents’ firm—something he was not initially planning to do. You’ll learn what it’s like working for a family-owned firm, the technology the firm uses to communicate with clients, and how you can better track and find planning opportunities for your clients, too. For show notes and more visit: https://www.kitces.com/134 

Danna Jacobs is the co-founder of Legacy Care Wealth, an advisory firm and accounting practice that she launched with her brother. While Danna handles the financial planning side of things, her brother focuses on the accounting and tax planning as they grow their business together. Today she joins the show to discuss how her firm works with next-generation clients and what it’s like running a business with a sibling. Listen in as we talk in depth about their blended fee model, which charges a monthly fee for ongoing planning advice that shifts into an AUM fee as clients’ savings and portfolios grow. Danna explains the structured agenda she uses for every client—covering accomplishments since the last meeting and key client takeaways that become the clients’ homework for the next meeting—how she balanced motherhood during the early stages of her business, and more. For show notes and more visit: https://www.kitces.com/133 

Linda Leitz is the president of Peace of Mind Financial Planning, an independent RIA based in Colorado Springs that provides comprehensive financial planning services on a retainer fee basis to nearly 100 clients. Today Linda joins the show to discuss what she has learned over her 20 years of experience, including key takeaways about pricing her services and why her team of four works with clients for an ongoing retainer fee. She also explains how she has overcome the self-doubt that so many of us experience when quoting our planning fees so that she is able to charge what she is really worth. Listen in as we talk in depth about Linda’s decision to shift from being a solo advisor under a cost-sharing partnership to building her own multi-advisor team, as well as what surprised her most when switching to a team structure after being solo for so long. You’ll learn why she decided to go back to school for a Ph.D. in financial planning as an experienced practitioner, how her mentality has shifted over the years, and more. For show notes and more visit: https://www.kitces.com/132