Financial Advisor Success
Michael Kitces
The Financial Advisor Success podcast brings you real success stories and insights from the most successful financial advisors, and leading industry consultants, about how to take your advisory business to the next level. Get a glimpse of what it's like behind the scenes building a successful advisory business, and how entrepreneurial advisors navigate the inevitable highs, and lows, of growing a firm. Whether you're a new financial advisor trying to get started on the right foot, or an experienced advisor who's hit a wall, we're here to give you the insights and inspiration you need to break through and reach the level of success you want to achieve. Subscribe to the show, and get even more at the leading industry blog Nerd's Eye View at www.Kitces.com.
Episodes
Mentioned books
54 snips
Aug 13, 2024 • 1h 30min
Ep 398: Building A $2.5B AUM Advisory Enterprise Under The Umbrella Of A National CPA Firm With Eric Wulff
Eric Wulff, CEO of Marcum Wealth, oversees $2.5 billion in assets for 2,700 households. He reveals how leveraging relationships with CPAs drives referrals, emphasizing a 'give to get' strategy. Wulff discusses the integration of tax advisory into financial planning and the value of standardized services across locations. He also explains their unique approach to client acquisition, converting prospects by presenting detailed plans upfront, all while balancing growth with a targeted focus on mid-career advisors.
9 snips
Aug 6, 2024 • 1h 32min
Ep 397: Powering Growth To $1.2B Of AUM With An Intentional Focus On (Local) Acquisitions Of Retiring Advisors With Jaime Benedetti
Jaime Benedetti, Managing Principal of Benedetti, Gucer, and Associates, oversees $1.2 billion in assets and shares insights on scaling through strategic acquisitions of retiring advisors. He discusses his evolution from personal funding to bank loans for purchases, ensuring consistent revenue by transitioning clients from commission-based to fee-based models. Jaime emphasizes the importance of thorough integration and client retention post-acquisition, leveraging networking to identify targets, and maintaining a client-centric approach in sustaining long-term advisor-client relationships.
Jul 30, 2024 • 1h 28min
Ep 396: Leveraging Business Coaches To Delve Deep Into A Divorce Specialization That Brings A Steady Flow Of Ideal-Fit Clients With Michelle Klisanich
In this engaging discussion, wealth advisor Michelle Klisanich shares her journey in divorce financial planning, highlighting her unique focus on helping women navigate this challenging transition. She discusses the vital role of business coaches in refining her approach and building a dedicated client base. Michelle reveals how her personal experiences and early career struggles fueled her passion, while also emphasizing effective marketing and community engagement strategies. She encourages new advisors to leverage mentorship for greater success and confidence in their practices.
Jul 23, 2024 • 1h 39min
Ep 395: The Rise Of Bank Financing To Fund Independent Advisor Acquisitions And Succession Plans With Dustin Mangone
Dustin Mangone discusses the rise of bank financing for advisor transactions, focusing on key metrics like buyer's capitalization and seller's recurring revenue. He explains the differences between conventional bank loans and SBA loans, emphasizing the continued robust financing opportunities for advisory firm transactions.
Jul 16, 2024 • 1h 30min
Ep 394: Launching An Administrative Family Office Practice To Deliver Your Best Support To (HNW) Clients with Christi Van Rite
Christi Van Rite, founder of White River Consultants, shares insights on managing financial needs of high-dollar families, tech stack flexibility, referral pipelines, team training, and risks. She highlights services like personal bookkeeping, payroll, property management, and document management. The discussion covers transitioning from financial advisor to family office services, cybersecurity, client selection, defining success, and commitment to philanthropy.
11 snips
Jul 9, 2024 • 1h 30min
Ep 393: Taking The Risk Of A Multi-Million-Dollar Succession Loan To Make The Business What You Want It To Be with Alex Lewis
Join Alex Lewis, owner of Blackbridge Financial, as he shares how he took a risk with a multi-million-dollar loan to transform his firm. Discover how he navigated financial challenges, redefined client service with personalized touches, categorized clients for growth potential, and systematized operations to achieve business success.
Jul 2, 2024 • 1h 30min
Ep 392: Crafting Your Specialization When There Is No Standard Playbook To Learn It with Kristopher Heck
Kristopher Heck, Founding Partner of Tanager Wealth Management, shares insights on specializing in cross-border US-UK financial planning. He discusses navigating dual taxation for US citizens living abroad, firm growth strategies, and the importance of building a robust referral network. The podcast covers evaluating planners, evolving as a financial advisor, specializing in a narrow target market, and building a billion-dollar advisory firm while defining success and creating a lasting legacy in the business.
23 snips
Jun 25, 2024 • 1h 29min
Ep 391: Improving Efficiency (In A Solo Practice) By Eliminating What Clients Don't Really Care About Anyway with Christopher Jones
Guest Christopher Jones shares insights on efficiently running his solo practice, focusing on crucial financial planning tasks, using a curated tech stack, managing cash requests, and generating referrals. He also discusses transitioning to remote work, managing perfectionism by outsourcing tasks, and balancing client service with personal well-being.
8 snips
Jun 18, 2024 • 1h 37min
Ep 390: Helping Prospects Find Their Way To You Online With (Local) SEO with Brent Carnduff
Brent Carnduff, SEO specialist for financial advisors, shares tips on optimizing local SEO, starting with Google Business Profiles and client reviews. Discusses the importance of serving a specific niche, timelines for SEO results, and the benefits of hiring a coach to improve business practices.
Jun 11, 2024 • 1h 30min
Ep 389: Generating $5M In Hourly Planning Fees In The Blue Ocean Of Consumer Demand with Mark Berg
Mark Berg, founder of Timothy Financial Counsel, scaled his firm to generate $5M in annual revenue through an hourly fee model. He shares insights on structuring his firm for success, implementing time-tracking software, using a client waitlist, and hiring a president without a financial planning background. Berg sees the hourly fee model as an opportunity to reach a broader client base and discusses strategic growth and pricing strategies.
