Financial Advisor Success

Taylor Schulte is the founder of Define Financial, an independent fee-only RIA that oversees $76 million of assets under management for 60 families that are in, or approaching, retirement. Taylor has grown his practice through proactive marketing initiatives and niching down to a very specific target clientele—even though it meant firing his mother and grandfather as clients. Listen in as he shares some of the hits and misses he experienced along the way to growing his practice to what it is today. You will learn what he did to break through a revenue ceiling, how he turned podcast listeners into clients, and how investments in his website have paid off to the tune of 75% of new clients arriving through organic web traffic. For show notes and more visit: https://www.kitces.com/189

Rich Arzaga is the founder of Cornerstone Wealth Management, a hybrid advisory firm that oversees nearly $70 million in AUM for 65 affluent clients. Rich is just one of a handful of advisors across the country who, in addition to holding a CFP certificate, holds the CCIM designation to advise clients on commercial real estate. Today he joins the show to discuss how he incorporates advice on directly held real estate into his practice and the APOD (Annual Property Operating Data) analysis he prepares as part of his financial planning. Listen in as Rich shares the tools he uses to track and analyze directly held real estate, as well as why he charges an upfront fee for his real estate analysis. You'll learn what he did to stand out from the crowd and how he turbo-charged his firm in the early years to overcome the challenges often faced by career-changing entrepreneurs. For show notes and more visit: https://www.kitces.com/188

Emlen Miles-Mattingly is the founder of Gen Next Wealth, an independent RIA based in Madera, California that provides wealth management for 70 client households. Emlen's goal is to change the complexion of wealth, and he does this by focusing his advisory firm on working with underserved communities of color and moving toward a subscription model instead of traditional assets under management. Listen in to find out how Emlen structures his monthly subscription business model, as well as how he developed different tiers that all provide a baseline of advice but vary in implementation support. We also discuss how the change in business model is accelerating his growth path, the key question he asks at the beginning of every introductory meeting with clients, the real-world challenges he faces as an advisor of color serving communities of color, and so much more. For show notes and more visit: https://www.kitces.com/187

Samantha Bezar is the Director of Digital Marketing for Thrive Financial Services, a hybrid RIA and Insurance Agency based out of the Greater Philadelphia Area that serves nearly five hundred clients. Through a combination of digital marketing and in-person events, Samantha has built a scalable marketing solution for Thrive that has catapulted their revenue from a few hundred thousand dollars to more than $6 million in under three years. Samantha joins us today to share her in-depth expertise on all things digital marketing, including marketing automation tools that have increased retention and response rates, how Thrive segments and targets their audience, and how compelling ad copy comes into play when converting prospects to clients. Listen in to learn what personal touches Thrive uses to incorporate a more human element to their process, as well as the "secret sauce" for getting people to actually show up to webinars. For show notes and more visit: https://www.kitces.com/186

Christine Teh is the founder of Teh Financial Coaching, which provides tax consulting and financial coaching services to high-income individuals and couples. Christine has built a successful coaching practice by not only systematizing her coaching packages for clients, but also systematizing her marketing process through LinkedIn. Today she joins the show to discuss why the focus of her work is on short-term cash flow instead of retirement plans. Listen in as we talk in depth about why Christine teaches her clients how to do the work so they can go out on their own and, ultimately, not end up as long-term clients. You will learn what she uses as her main marketing tool, steps she has taken to ensure she gets the number of clients needed to make her business sustainable, and how she is reaching so many clients. For show notes and more visit: https://www.kitces.com/185

Reese Harper is the founder and CEO of Dentist Advisors, an independent RIA that oversees nearly $250 million of AUM for more than 350 clients. On top of running a firm with a unique niche, Reese also runs a successful podcast—something he credits with helping to grow his business. Today he joins the show to discuss the monthly financial planning process he has developed for serving clients, as well as the technology tools he uses to implement it. Listen in as Reese shares why he thinks the future of financial advising is all about working with clients through an ongoing series of micro-interactions around their financial planning needs. You will learn about the systematized series of twelve monthly deliverables that his firm provides, the financial planning process Reese has created, and the premium price he charges for the premium service his firm provides. For show notes and more visit: https://www.kitces.com/184

Hannah Moore is a Certified Financial Planner and owner of Guiding Wealth Management. She graduated from Baylor University with a degree in Financial Services and Planning and Business Management, helped start the Financial Planning Association's NexGen program, and mentors younger financial planners. If that wasn't enough, she is also the creator of BudgetingBlocks, a system that helps consumers visualize and better understand their budgets so they can develop one that works for them. With a passion for helping people change the conversations they have about money, Hannah joins us today to discuss how she does just that in both her advisory firm and her consumer product. Listen in to hear how she manages work-life balance, one of the best things she ever did for her business, and how one of the most powerful tools she uses with her clients was bought from a kid's toy store. For show notes and more visit: https://www.kitces.com/183

Richard Joyner is the President of Tolleson Wealth Management, a multi-family office that manages the wealth of large families with significant assets. He works with multi-generational families to address the complexities of successful wealth transfer and has expertise in many diverse areas, including estate tax planning, family dynamics and education, and investment management for the ultra-rich. Richard joins us today to discuss what financial planning looks like for multi-generational families with significant wealth, what development dynamics go along with multi-family portfolios, and some of the more diverse issues that can arise in this particular wealth management category. Listen in to hear his top advice for getting started in this field, the skills that are necessary for success, and what he wishes he could tell his younger self just starting his career. For show notes and more visit: https://www.kitces.com/182

Benjamin Brandt is the founder of Capital City Wealth Management, an independent RIA that oversees $60 million in assets under management for nearly 80 households. Benjamin originally developed a focus niche after going out on his own, only to realize there were not enough people in that niche to fill his desired client base. Today he joins the show to discuss how he initially established his niche and how he has optimized his website to maximize local search engine optimization opportunities. Listen in to hear about why he decided to start a podcast to reach beyond his local market, as well as the marketing funnel he developed to turn his listeners into prospective clients. You will learn why he runs meeting surges twice a year to maximize his focus and his time off, how he has built his advisory firm to fit his lifestyle goals, and how you can bring similar flexibility to your practice. For show notes and more visit: https://www.kitces.com/181

Ryan Inman is the founder of Physician Wealth Services, an independent RIA that serves over 140 physician clients. Completely narrowed in on his unique niche, Ryan changed the name of his firm, created a Financial Residency podcast, and restructured his entire financial planning process to in-patient and outpatient services. Today he joins the show to share the mindset shift he had to go through in order to be comfortable with narrowing the focus of his practice and offers advice for those who'd like to do the same. Listen in as we discuss why having a targeted niche can make it easier when marketing, as well as what Ryan is doing to serve his niche effectively. You'll learn how he chose to serve physicians in particular, the unique fee structure he uses, and what he is doing to bring in so many new clients every month. For show notes and more visit: https://www.kitces.com/180

Elizabeth Nesvold is the Managing Director and Head of Asset & Wealth Management Investment Banking for Raymond James, providing investment banking services for some of the largest independent advisory firms engaging in capital transactions. Today she joins the show to discuss the evolution in wealth management firms over the decades and how an investment banker looks at the evaluation of an advisory firm. Listen in as we talk in depth about how obtaining evaluation of your advisory firm can be a helpful tool in understanding whether your business is getting a good return on investment, as well as what Liz has learned as a founder selling her own firm. You will hear what investment bankers do for wealth management firms, the dynamics of raising capital when starting an advisory firm, and how Liz counsels other advisory firm founders getting ready to sell their businesses. For show notes and more visit: https://www.kitces.com/179

Daniel Zajac is a financial advisor and partner with Simone Zajac Wealth Management Group, a hybrid advisory firm on the Lincoln Investments platform that oversees nearly $250 million of AUM for 300 clients. Today Daniel joins the show to discuss how he built and developed a niche in working with those who receive significant equity compensation, including the years it took early on and how he accelerated his positive results. Listen in as we talk in depth about how Daniel's firm prices and delivers its planning services, as well as how they determine whether a prospect is the right fit for the firm. You will learn why his business offers tax preparation as part of its services, how forming a niche has opened up new opportunities, and more. For show notes and more visit: https://www.kitces.com/178

Sara Stanich is the founder of Cultivating Wealth, an independent RIA that oversees nearly $50 million in AUM for 95 ongoing client households. Sara transitioned into financial advisory in the midst of the last financial crisis, forcing her into the independent channel with less support but more flexibility to craft her advisory firm the way she wanted to. Today she joins the show to discuss her journey into the industry and her advice for people starting out during the current bear market. Listen in as we talk in depth about how Sara builds her business, as well as the software she uses to identify which potential clients would be a good fit for the firm. You'll learn how her business has evolved over recent years as she has started to add more CFP professionals to her team, key advice for career changers or other advisors early in their career, and more. For show notes and more visit: https://www.kitces.com/177

Mindy Diamond is the founder of Diamond Consultants, a recruiting firm that has been helping advisors evaluate and change their broker-dealer platforms for more than 20 years. Today Mindy joins the show to discuss the range in choices that advisors have in choosing a brokerage platform and how best to decide which is the right fit for your firm. Listen in as we talk about when advisors should—and should not—look at switching to another broker-dealer platform, as well as the most common reasons advisors choose to make the change. You will learn why it is crucial for an advisor to understand their own priorities before they have any chance of picking the right platform for them, the important questions you should ask yourself as an advisor, and why the decision of which platform to choose is not as simple as it once was. For show notes and more visit: https://www.kitces.com/176

Dr. Travis Parry is the founder of Make Time Institute, a company that helps business owners gain control of their time to achieve a more sustainable work/life balance. Having spent nearly a decade working as a financial advisor himself, Travis knows that the demands of working at a firm can take away from important time you should be spending with your loved ones. Today he joins the show to explain his "Make Time" approach to creating better work/life balance and how to overcome what he calls the three myths of time management. Listen in as we talk in depth about the importance of identifying your goals and ensuring your time is prioritized to align with them. You will learn how the combination of a family tragedy and the financial crisis that derailed his advisory firm led Travis to find what is now his life's work and how to improve your time management system in order to stop overworking and start prioritizing the things that matter most. For show notes and more visit: https://www.kitces.com/175

Shanna Tingom is the founder of Heritage Financial Strategies, a dually registered advisory firm that oversees nearly $50 million of assets under management for 250 clients. Today Shanna joins the show to discuss how she has heavily automated key processes throughout her firm to service her large number of clients efficiently—and has done so by not using industry standard systems. Listen in as we talk in depth about Shanna's journey through the advisory business itself, as well as why she is thankful she started out a large financial advisory firm. You will learn why she decided to branch out on her own, the difficult challenges she faced in doing so, and the unique advisor technology stack she has used to simplify things in her business. For show notes and more visit: https://www.kitces.com/174

Andrew Leonard is the founder of Geometric Wealth Advisors, an independent RIA that oversees nearly $250 million in AUM for 110 client households. Andrew has settled into a unique niche, which ultimately propelled his firm to organically add almost $200 million dollars of net new assets in just five years—almost entirely from a single white paper he wrote for that niche. Today he joins the show to discuss what customizing the financial process and experience to a particular type of client really entails and how he managed to do so in such an effective way. Listen in as Andrew shares the unique opportunities and challenges that accompany working with management consultants who are trained to analyze and scrutinize financial models and projections. You will learn about the live presentations he has evolved his practice to focus on, how he is able to connect with clientele that are based all around the country, and the benefits of focusing on a unique niche to accelerate your career. For show notes and more visit: https://www.kitces.com/173

Minoti Rajput is the founder and president of Secure Planning Strategies, a hybrid advisory firm that oversees nearly $300 million of AUM for 350 client households. Minoti has built her advisory firm by creating a specialization in working with families with special needs children, and she joins the show today to discuss her niche and how she gathered the expertise needed to support special needs families. Listen in as we talk in depth about the unique marketing opportunity she has been able to create by working with school systems, where as many as 10% of students have some form of special needs. You will learn how she handles the compliance challenges that come with providing this kind of specialized advice, her unique fee structure, and what it's like working in such a rewarding and fulfillng niche. For show notes and more visit: https://www.kitces.com/172

Tom Kennedy is a wealth advisor at Global Wealth Advisors, where he works with a base of nearly 400 clients. After 10 successful years of being a wholesaler to advisors, Tom decided to make the transition into becoming an advisor himself. Today he joins the show to discuss how he networked his way to a fast-growing number of clients and how he was able to use the people skills he learned in wholesaling to build deeper relationships with his clients. Listen in as Tom shares what it was like transitioning into an advisory firm, knowing he was going to make less money than what was available in the short-term with wholesaling. You will discover how he assessed the varying firms he came into contact with in order to decide which would be the best to work with as an advisor. If you have been wanting to improve your networking skills or you are considering becoming a financial advisor, this is the episode for you. For show notes and more visit: https://www.kitces.com/171

Patrick Tucker is the founder of True Measure Wealth Management, an independent RIA that oversees nearly $150 million in AUM for 89 client families. Patrick has a background in business operations and financial management from having started his career with UPS and has managed to transfer those business skills to managing his own advisory firm. Today he joins the show to discuss how he built his intentionally-designed advisory firm by overcoming the growth imperative pressure that the industry tends to put on us all. Listen in as we discuss why Patrick splits his advisory fee structure to accommodate his different groups of clients, as well as the key business metrics he focuses on to ensure he is spending his time and business resources properly. You'll learn what it takes to triple your business in the first two years, why Patrick keeps his internal team lean by using contractors, and more. For show notes and more visit: https://www.kitces.com/170

Alexandra Levi is the founder and managing partner at Element Financial Group, a hybrid RIA that oversees nearly $430 million of assets under advisement for 170 clients. As a firm providing both investment management and financial planning services, it may surprise you that Alexandra has been able to grow her revenue to be split almost 50/50 between the two. Today she joins the show to share how she has combated the risk of fee compression and her unique approach to running a hybrid firm. Listen in as we discuss how Alexandra shows her clients how she will keep their money organized in a way they can understand, why she continues to do quarterly meetings but keeps the majority of them virtual, and more. If you have ever wondered whether you should hire a business partner or are ready to control the direction of your career, this is the episode for you. For show notes and more visit: https://www.kitces.com/169

Erin Botsford is the founder of Botsford Financial Group, a hybrid RIA with the LPL platform that oversees $1 billion in assets under management. Erin has built and evolved her firm over the years, starting out with it being centered around herself as the lead advisor and ultimately selling the firm but keeping her name on the door. Today she joins the show to discuss how she built her business over the past 30 years, as well as the transformation she made in the first decade of her career. Listen in as we discuss the shift she made from lead advisor to CEO and how she nearly tripled the growth of the firm in the three years that followed. You will learn how she developed herself into a lead rainmaker role (despite admittedly not being a natural businesswoman), how she shifted control of client relationships, and more. For show notes and more visit: https://www.kitces.com/168

Scott Frank is the founder of Stones Steps Financial an RIA that has rapidly grown to 67 clients with over 400,000$ of annualized revenue in just five years. Scott has evolved his advisory firm from a highly technical base to a financial planning approach with clients based on the George Kinder life planning process. Today Scott joins the show to share how he incorporates life planing questions into the first three meetings of his financial planning process as a way to understand his clients better. Listen in as Scott shares how he convinces his clients to implement the strategies he recommends by creating a buy-in into the financial planning process. You will learn where traditional financial planning software intersects with the life planning approach and how he has built his business around this life planning approach. If you are intrigued by the George Kinder life planning approach or you want to simplify your pricing, this is the episode for you. For show notes and more visit: https://www.kitces.com/167

Peter Mallouk is the founder and president of Creative Planning, an independent RIA that oversees nearly 50 billion in assets under management for over 30,000 households. Peter has built his firm to the impressive size that it is within the last 16 years without any mergers, acquisitions or outside capital along the way. Today Peter joins the show to discuss Creative Planning's growth path and how that has shifted over the years to referrals from existing clients. In this episode we talk in depth about Peter's thoughts on broader industry trends including why Creative Planning remains committed to the AUM model and not charging separately for planning. You will learn what he plans to do with the outside capital that his firm raised, the firms aggressive growth plan over the next three years and much more. For show notes and more visit: https://www.kitces.com/166

Steve Kampschmidt is the founder of Freedom Found Financial, an RIA that oversees just under $20 million in assets under management for 30 affluent clients. After breaking away from a training program at a major wirehouse, Steve recently formed his advisory firm because he realized it was more economical for him to operate his own business and control his own expenses. He joins the show today to discuss how he has rapidly grown his firm since going independent and what he went through to comply with broker protocol. Listen in as Steve explains how he built his client base at the Wirehouse using cold-calling techniques and the salary base they provided while he did so. You will learn about the alternative non-AUM business model he created, why having confidence in yourself is key, and what you should realistically expect when it comes to clients sticking with you after you leave a big firm. For show notes and more visit: https://www.kitces.com/165

Julia Carlson is the founder and CEO of Financial Freedom Wealth Management Group, a hybrid RIA that oversees nearly $300 million in AUM for almost 1,000 client households. Today she joins the show to discuss how her daughter's tragic car accident led her to look for a more flexible work schedule, which ultimately led her to becoming the business owner of the firm. Listen in as we talk about Julia's journey through her advisory career and how she got her foot in the door through speaking with small local business owners. You will learn how to stay in charge without being in control, why Julia decided to let go of client relationships, and more. For show notes and more visit: https://www.kitces.com/164

Michael Gennaway is a financial advisor and program manager for SoCal Wealth Management, a hybrid advisory firm that oversees $260 million of assets under management for over 1,800 clients. Today Michael joins the show to discuss how he has built SoCal under the Credit Union of Southern California, getting constant new clients from them with the caveat that SoCal must take every new client referral. Listen in as we talk about the unique ways that the credit union is complementary to SoCal Wealth Management, as well as how they are managing to acquire three new clients every week. You'll learn how they screen their clients to ensure they are the best fit for their firm, how to find the right Credit Union for you, and more. For show notes and more visit: https://www.kitces.com/163

Tim Bickmore is the co-founder and director of financial planning for LBW Wealth Management, an independent RIA that oversees more than $50 million in assets under management for 230 client households. Today Tim joins the show to discuss how the firm grew so quickly and why they are concerned that what helped grow their firm initially may not work for future growth. Listen in as we discuss the evolution of Tim's advisory firm, including why they shifted to a blended model with a base monthly subscription fee and how they are ensuring profitability for new clients. You will learn LBW's financial planning process for younger clients, the increasingly cash-flow based approach they have taken, and more. For show notes and more visit: https://www.kitces.com/162

Tessa Felix is the HR and Operations Lead for PWL Capital, an advisory firm that oversees nearly $3.6 billion in assets under management. Tessa has focused on developing the culture of her advisory firm and has put systems in place to make everyone accountable for their work, while still making it a fun environment. Today she joins the show to discuss how she is making her firm an enjoyable place to work in, as well as the leadership system she has incorporated into her management approach. Listen in as we talk about the weekly team meetings, internal podcast, and monthly one-on-ones Tessa uses to maintain the culture of the firm. She shares how she transitioned from being a peer of her co-workers to their manager and how she came to be the culture lead for her firm. If you're ready to cultivate a growth mindset within your own business, this is the episode for you! For show notes and more visit: https://www.kitces.com/161

Gabriel Shahin is the founder of Falcon Wealth, an independent RIA that oversees nearly $200 million in assets under management for 370 clients. Today Gabriel joins the show to share how he has built such a successful firm from scratch in just five years by spending a significant amount on marketing. In this episode, we discuss how he allocates his proactive marketing dollars from outsourced SEO experts to Google ads, as well as a weekly radio show. You'll learn how Gabriel handles the sales process, why he decided to hire a stand-alone business development associate, and what it takes to rapidly grow your firm. For show notes and more visit: https://www.kitces.com/160

Kelly Shikany is a financial advisor and Director of Wealth Management for Lakeside Wealth, a hybrid RIA where she manages a base of nearly $90 million in client assets. Deciding to not hang her hat as a solo advisor, Kelly instead navigates existing advisory firms so she can focus more on her clients. She joins the show to discuss her career path and how she has worked her way to the successful position she is in today. In this episode, we talk about how Kelly grew her client base in her younger years by conducting "women's circles" so she could establish relationships in her small-town community. Listen in to learn how she differentiated herself from other advisors in the area, how she structures her week to maximize personal productivity, and what helped her overcome feelings of failure so they wouldn't hold her back. For show notes and more visit: https://www.kitces.com/159

Steph Bruno is the founder of Sea to Peak Financial Advisors, an independent RIA that oversees nearly $70 million in assets under management for 45 affluent clients. Today Steph joins the show to discuss the process of branching out and starting her own independent firm after spending 15 years as an employee for another firm. Listen in as she explains why she decided to take the leap from a stable paycheck to building her own business from scratch, as well as how she rebooted her marketing in the process. You'll learn what made her decide to hire a personal coach to help her work through the difficult first few years of running her own business, how she integrates life planning conversations into her planning process, and what she's choosing to focus on now that she is running her own firm. For show notes and more visit: https://www.kitces.com/158

Peter Lazaroff is a shareholder and the Co-Chief Investment Officer of Plancorp, an independent RIA that oversees nearly $4.4 billion of assets under management for 1,300 affluent clients. Today he joins the show to discuss how he has been able to build his own personal brand, both as a mechanism to grow his client base and to help him navigate career opportunities. Listen in as Peter describes the way he has "niched down" by creating content for his target audience through a blog, emails, and a book. You'll learn why he encourages his team to create personal brands, the importance of staying focused on the clients you want to reach, and more. For show notes and more visit: https://www.kitces.com/157

DeLynn Zell is the founder and CEO of Bridgeworth Financial, a hybrid RIA that oversees nearly $1.6 billion of assets under management for almost 2,000 clients. Today DeLynn joins the show to discuss how Bridgeworth was built from the start to sustain past the founders and how they have taken steps to attract next-generation talent to ensure the firm remains a success in the long run. Listen in as we talk about the difficulties DeLynn faced in the early years of her career, as well as how the gender split of CFP professionals may shift in the future. You'll learn the four-tier career path her firm has created, how they structure their compensation for partners, and why they are reinvesting into business development and training for next-generation partners. For show notes and more visit: https://www.kitces.com/156

Derek Notman is the founder of Intrepid Wealth Partners, operating as an agent for New York Life and overseeing nearly $50 million in assets under management for almost 200 clients. Today Derek joins the show to share how he evolved his advisory firm from a high-volume, bricks-and-mortar office into an entirely virtual practice. Listen in as he shares how he built up his virtual practice and team, as well as how he has been able to grow his business and income. You'll learn what made him decide to transfer 80% of his clients to other advisors, why he has chosen to create a narrower niche focus, and more. For show notes and more visit: https://www.kitces.com/155

Mary Beth Storjohann is the Chief Marketing Officer for Abacus Wealth Partners, an independent RIA that oversees nearly $2.6 billion in assets under management for almost 1,700 clients. After joining us for episode 61 nearly two years ago, today she is back for a second time to discuss the major changes she has made since then. Listen in as we discuss why Mary Beth decided to sell her own firm to take on a marketing leadership role in an even larger firm, as well as what this new role entails. You'll learn how Mary Beth determined avatars for the firm's marketing, how she allocates her marketing budget, and what she believes every firm can do to better their marketing. For show notes and more visit: https://www.kitces.com/154

Dan Allison is the founder of Feedback Marketing Group, a marketing and sales consulting firm that helps financial advisors to increase their growth by teaching methods to generate referrals from existing clients. Today Dan joins the show to discuss how he uses his background in behavioral psychology to help his clients to find more referrals by reducing their mental barriers, allowing them to be more open to the possibility of new clients. Listen in as Dan shares the five key points that he focuses on when helping generate more referrals, including being educated on the services your firm provides. You'll learn the importance of showing that you actually care about your clients, what your introduction strategy should be, and more. For show notes and more visit: https://www.kitces.com/153

Beverly Flaxington is the founder of The Collaborative, which provides sales training and organizational development support for financial service firms. A firm believer that it's not just about knowing what to do, it's about knowing how to change your behavior to actually do it, Beverly joins the show to share the human behavioral coaching approach she takes to teach sales and how to get more comfortable selling your services. In this episode, we discuss how to determine if a prospect is a qualifying client, as well as the right questions to ask a client to get to know them better. Listen in to hear Beverly's advice on how to conduct a meeting with a client, the importance of getting specific about who you serve, and more. For show notes and more visit: https://www.kitces.com/152

Luna Jaffe is the founder of Lunaria Financial, an advisory firm that oversees nearly $55 million in assets under management for 100 client households. In an effort to make financial knowledge affordable, Luna launched the Sacred Money Studios and Prosperity Pie Shoppe, a literal pie shop across the street from her advisory firm office that offers low-cost financial education programs on budgeting. In this episode, we discuss the budgeting philosophy her business teaches, as well as the real-world challenges that come with opening up a retail store with employees. Listen in to hear what Luna has learned while trying to expand the reach of financial education through a retail store, how she helps clients implement necessary changes, and more. For show notes and more visit: https://www.kitces.com/151

Tanya Nichols is the founder of Align Financial, a hybrid advisory firm that oversees nearly $50 million of assets for 80 client households. After nearly 20 years of working in a larger firm environment, Tanya finally found the courage to start her own advisory firm and took the leap to create the business she wanted. In this episode, she shares her journey through the advisor industry, focusing on the moment of realization that led her to not only leave her firm, but leave her husband as well. Listen in as she explains how a sense of community has helped her along the way, how she plans to double her revenue, and what she says was the biggest surprise of her advisory career. For show notes and more visit: https://www.kitces.com/150

Susan John is the managing director and financial advisor for F.L. Putnam, an independent RIA that manages nearly $2 billion of assets under management. After 25 years of building her own independent financial planning firm from scratch, Susan decided to join F.L. Putnam for part of her succession—but not her retirement. Today she joins the show to discuss why she made that transition and how she has developed her financial planning process over the past three decades. Listen in as Susan explains her process and why she charges a full upfront fee to do financial planning "snapshots" for every client before even taking them on as an ongoing client. You'll learn what she does for retired clients, how she expanded ownership of her firm, and how she grew her financial advisory firm to $350 million. For show notes and more visit: https://www.kitces.com/149

Laura LaTourette is the founder of Family Wealth Management Group, a hybrid advisory firm that oversees $45 million of assets under management for 86 client households. Today Laura joins the show to share how she has built her firm to work primarily with the LGBTQ community and how she found the right time to come out to her broker-dealer. Listen in as we discuss her financial planning process, which includes four planning meetings with every new client. You'll learn how she refined her website and her data gathering form to speak to her niche, why she recently hired a CEO for her firm, and more. For show notes and more visit: https://www.kitces.com/148

Jeff Dobyns is the founder of Southwestern Investment Group, a hybrid advisory firm that oversees nearly $3.5 billion of assets under management. Today Jeff joins the show to discuss how he has developed next generation talent in his firm by only hiring new advisors in their 20s and giving them the opportunity to learn alongside experienced advisors. In this episode, you'll hear about the mentoring program Jeff's firm has built, as well as how the firm compensates these new advisors as they are learning. Listen in to discover why Jeff prefers not to hire experienced advisors, what tasks his firm ends up giving to the new advisors, and the marketing technique his team uses to grow their business. For show notes and more visit: https://www.kitces.com/147

Ross Levin is the co-founder and CEO of Accredited Investors Wealth Management, an independent RIA that oversees nearly $2 billion of assets under management for 475 affluent clients. Today Ross joins the show to discuss the way he systematized the financial planning process across his firm and developed a wealth management index system that tracks clients' progress. Listen in as he shares how he balances delving into the technical topics of financial planning versus trying to ask clients the right questions to explore the client's side of those issues. You'll learn why it's so important to have a systematized process, what Ross says is the most important thing when building a firm, and more. For show notes and more visit: https://www.kitces.com/146

Roger Pine is the co-founder of Holistiplan, a tax planning software built to systematize and automate the process of reviewing a client's tax return to find potential planning opportunities. Today he joins the show to discuss how he transitioned from working as a financial advisor to becoming a financial tech entrepreneur. Listen in as we talk about Roger's software and the ever blurring lines between where a CPA's tax services end and an advisor's begin. You'll hear what it is like to be a financial tech entrepreneur, as well as advice for financial advisors who see an opportunity to develop a tech solution. For show notes and more visit: https://www.kitces.com/145

Tom Bradley is the former president of TD Ameritrade Institutional, one of the leading RIA custodial platforms serving nearly 7,000 independent RIAs with almost $600 billion of assets held in custody. For over 25 years, Tom was a part of the growth of financial advisors operating as independent RIAs on a custodial platform. Today he joins the show to discuss the evolution of the RIA custody model and how technology has affected the business. Listen in as we talk in depth about how TD Ameritrade uses the Veo open-access platform, as well as the surprising ways that RIA custodians generate their revenue from advisors and their clients. You'll hear Tom's views on why the RIA custodial options for how cash is invested has become such a hot topic and his predictions for the future of the RIA custodial business. For show notes and more visit: https://www.kitces.com/144

Cathy Curtis is the founder of Curtis Financial Planning, a solo independent RIA that oversees nearly $60 million in assets under management for 52 client households. By positioning her business into a niche of serving women—in particular, single, independent-minded women who want to work with a female advisor—Cathy has managed to stand out in an over-crowded marketplace to build her firm. Listen in as we discuss why Cathy chose her particular niche, as well as how she has been able to target her marketing so effectively that most of her new clients find her through a simple Google search. You'll learn all about her financial planning process, why she has had to implement a minimum requirement fee, and how she managed to overcome impostor syndrome on her road to success. For show notes and more visit: https://www.kitces.com/143

Matt Oechsli is the founder and CEO of Oechsli Institute, which does primary research into affluent investors and how they select advisors. A marketing and sales consultant for financial advisors, Matt joins the show to share how you can connect with more affluent clients simply by building better relationships with them. Listen in as we discuss the importance of paying attention to details—like the names of clients' children and pets—during the relationship-building process, as well as what good client communication is all about. Matt shares what it takes to build trust, an effective practice for getting more referrals, and his advice for new advisors starting out in the business. For show notes and more visit: https://www.kitces.com/142

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