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Financial Advisor Success

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.
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Now displaying: September, 2023
Sep 26, 2023

Bridget Venus Grimes is the President of WealthChoice, a virtual independent RIA that oversees nearly $80 million in assets under management for 68 families, and Co-Founder of Equita Financial Network, an advisor platform that helps advisors share resources. As a solo advisor, Bridget quickly grew her firm to $77M in AUM over 7 years, but found herself stretched thin managing various business aspects while serving her clients. Instead of scaling her firm by hiring more advisors, she chose to delegate non-financial-planning tasks to virtual outsourced contractors, freeing her from day-to-day management responsibilities.

Listen in as Bridget shares her journey of building her firm by outsourcing various tasks like compliance, operations, and client scheduling to focus on her niche of female executives. We also discuss her unique approach to compensation and client service, which led her to launch her own firm, and how she invested $30,000 in writing a book for credibility rather than sales. Bridget also dives into the importance of business coaching, learning not to compromise on client fit, and her decision to bring on her daughter as part of a long-term succession plan.

For show notes and more visit: https://www.kitces.com/352

Sep 19, 2023

Jessica Polito is the Founder and Principal for Turkey Hill Management, a mergers and acquisitions consulting firm that assists financial advisors with the sale, acquisition, integration, or merger of their firms. Jessica stands out for her specialized practice in assisting financial advisors and firms, offering comprehensive guidance—from understanding business goals and educating clients on transactions to valuing firms—all without the conflict of an investment banker's success fee.

In this episode, she delves into how her investment banking experience informs her unique approach to offering independent M&A advice, as well as why she advocates for a flat-fee model to ensure unbiased counsel. She also shares invaluable insights on navigating the complexities of potential buyers and discusses her personal and professional definitions of success, which include combating imposter syndrome through thought leadership and setting a resilient example for her children.

For show notes and more visit: https://www.kitces.com/351

Sep 12, 2023

Jason Wenk is the CEO of Altruist, a newer RIA custodian that has quickly grown to serve more than 3,500 advisory firms and has become the fourth-largest independent RIA custodian by firm count. In response to the inefficiencies he encountered with existing RIA custodians while building his own TAMP a decade ago, Jason developed an 'all-in-one' custodian platform for RIAs, which incorporates portfolio management and performance reporting software.

Listen in as he shares his journey and his all-in-one solution for RIAs, leveraging his experiences as an engineer, RIA owner, and TAMP owner to offer advisors core investment systems at a lower cost. You'll hear about his early business ventures that led him to launch his own RIA, as well as how a client's question about a fixed index annuity sparked a niche content marketing strategy that attracted hundreds of prospects per month. We also discuss Jason’s belief in the application of the fiduciary standard to vendors serving advisors, his gratitude for the experiences that prepared him for launching Altruist, and his passion for creating better industry standards to make financial advice accessible to all.

For show notes and more visit: https://www.kitces.com/350

Sep 5, 2023

Olivia Luper is the Founder of Lexicon Advisor Marketing, a virtual outsourced digital marketing company that specializes in working with financial advisors to generate a steady flow of prospects. Olivia is unique in that she initially began as a ghostwriter for financial advisors before soon realizing that quality content needed a robust marketing system to truly attract prospects. Consequently, she expanded her firm to offer comprehensive outsourced marketing services, encompassing everything from lead magnets and mailing lists to social media ads and effective email campaigns.

Listen in as Olivia unveils her three-step marketing strategy, emphasizing the importance of clarifying an advisor's message, crafting a comprehensive marketing funnel, and offering hands-on implementation for those who prefer it. We also discuss the power of social media—particularly paid ads—to drive traffic to advisors' websites (and the subsequent nurturing of these leads through a meticulously crafted 7-email sequence), the early challenges that Olivia faced in content creation, and why she believes in the power of authentic storytelling to resonate with ideal clients.

For show notes and more visit: https://www.kitces.com/349

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