Business Planning and Clients - Financial Advisor Source

#FASuccess Ep 412: 3X’ing The Business With No More Than 50 Great Clients By Hyperfocusing On Who You Can Add The Most Value For, With Anjali Jariwala

Nerd's Eye View

NOVEMBER 19, 2024

Anjali is the Founder of FIT Advisors, an RIA based in Torrance, California (but works virtually with clients nationwide) and oversees $65 million in assets under management for 45 client households.

Clients

Clients Financial Advisor Business Planning Taxes

Gathering Feedback That Counts: Crafting Client Surveys To Offer Services That Matter Most

Nerd's Eye View

MARCH 10, 2025

In a firm's early years, there tends to be more room for experimentation, with advisors adding new services to provide value and attract clients. The best roadmap for focusing an advisory firm will reflect how to do more of what clients value and scale back on what they don't use or appreciate.

Clients

Clients Financial Advice Retirement Planning Financial Services

Graduating Clients The Right Way: A Thoughtful Approach To Sustainably Transition ‘Small’ Clients To On-Demand

Nerd's Eye View

FEBRUARY 24, 2025

Early in a firm's life cycle, a founder might take on nearly any client (and their fees) just to generate enough revenue to 'keep the lights on'. However, as the firm grows, some of those early clients may no longer be profitable to serve – especially if they generate lower fees than newly onboarded clients.

Clients

Clients Communication Numbers Management

Webinars

Book of Secrets on the Month-End Close

What Your Financial Statements Are Telling You—And How to Listen!

Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management

MORE WEBINARS

#FASuccess Ep 409: Adding 1,400 New Clients In A Year As An Extension Of Doing (Profitable) Student Loan Consulting At Scale, With Travis Hornsby

Nerd's Eye View

OCTOBER 29, 2024

Travis is the founder of Student Loan Planner, an RIA and student loan consulting company based in Chapel Hill, North Carolina that serves nearly 1,400 households with ongoing financial planning (as well as consulting with over 15,000 clients on student loan debt).

Consulting

Consulting Clients Financial Planning Compensation Planning

#FASuccess Ep 419: Attracting Clients Who Want To Align Their Investments With Their Values With A Sustainable Investing Approach, With Peter Krull

Nerd's Eye View

JANUARY 7, 2025

Pete is the Director of Sustainable Investing of Earth Equity Advisors, an RIA based in Asheville, North Carolina, that oversees approximately $200 million in assets under management for 250 client households. Read More.

Investing

Investing Investments Clients Risk Tolerance

Fix, Fine, Flourish: A Framework To Take Clients From (Just) “Fine” Staganancy To Being Engaged Again

Nerd's Eye View

FEBRUARY 19, 2025

When a client first begins working with an advisor, the relationship is often marked with a flurry of onboarding tasks, immediate issues to resolve, and long-term planning goals to establish. And as clients come into monitoring meetings, they may increasingly describe their situation as "fine", with no pressing issues to address.

Clients

Clients Financial Planning Planning Management

Inspired Discovery: Asking Vision Questions To Focus On Clients’ “Ideal Self”

Nerd's Eye View

APRIL 9, 2025

It's natural for advisors to begin discovery meetings by asking questions about a client's current financial situation – understanding cash flow, debt, investments, risk tolerance, or even the burning tax concern that brought them to the advisor's door in the first place is crucial for financial planning.

Clients

Clients Financial Planning Risk Tolerance Planning

Myriad Launches Cybersecurity and Strategic Business Planning Solutions

Wealth Management

FEBRUARY 8, 2024

Myriad Advisor Solutions announces two initiatives to help clients navigate the digital landscape securely while optimizing their business legacies.

Business Planning

Business Planning Planning Clients

Why a Solo Retreat is Great for Annual Business Planning for Financial Advisors

Prosperity Coaching

OCTOBER 29, 2024

Why a Solo Retreat is Great for Annual Business Planning for Financial Advisors: Today let’s plan your biggest success as a financial advisor in all the years you have been in the business by A.Planning a solo retreat, and B.Learning strategies for income growth.

Business Planning

Business Planning Financial Advisor Planning Clients

#FASuccess Ep 426: Rolling Out An Equity Compensation Plan To Align The Entire Team On Client Service And Profitable Growth, With Jennifer des Groseilliers

Nerd's Eye View

FEBRUARY 25, 2025

Jennifer is the CEO of The Mather Group, an RIA based in Chicago, Illinois, that oversees $15 billion in combined assets under management and advisement for approximately 4,400 client households. Read More.

Compensation Planning

Compensation Planning Clients Planning Wealth Advisor

#FASuccess Ep 432: Crafting “Input Deliverables” That Show Financial Planning Value To Clients Without Creating Busy-Work, With Seth Scott

Nerd's Eye View

APRIL 8, 2025

Seth is the founder of Heartwood Financial Planning, an advisory firm affiliated with PlanMember Securities Corporation that is based in Fresno, California, and oversees approximately $100 million in assets under management for 850 client households.

Financial Planning

Financial Planning Clients Planning Financial Advisor

Highlights From The Advise AI Conference 2024

Nerd's Eye View

NOVEMBER 18, 2024

In this guest post, Craig Iskowitz, CEO and founder of Ezra Group, shares highlights from this year’s Advise AI Conference, where industry leaders gathered to explore how AI might shape financial advice, from back-office operations to client interactions. Lydia) that remember both advisor personalities and client interactions.

Financial Advice

Financial Advice Clients Portfolio Marketing

A Recordkeeping Checklist For Financial Planning Services: Proactive Documentation Of Service Delivery To Reduce Regulatory Scrutiny

Nerd's Eye View

DECEMBER 18, 2024

This lack of specificity can result in regulatory deficiencies or scrutiny, even for firms providing substantial financial planning value to clients, if records fail to consistently demonstrate that fees are 'reasonable' in relation to the services provided.

Financial Planning

Financial Planning Planning Compliance Clients

#FASuccess Ep 417: Establishing Your Authority As An Expert By Following A Short Book Formula For Authorship, With Paul G. McManus

Nerd's Eye View

DECEMBER 24, 2024

Paul is the CEO of More Clients More Fun, a marketing company that helps financial advisors conceptualize and publish their own book in a consolidated 6-week process. Welcome everyone! Welcome to the 417th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Paul G McManus. Read More.

Financial Advisor

Financial Advisor Clients Communication Accounting

#FASuccess Ep 425: Implementing A Financial Planning Quality Control System To Improve Both Client Outcomes And Referrals, With Sebastian Guerra

Nerd's Eye View

FEBRUARY 18, 2025

Sebastian is the President of Guerra Wealth Advisors, a hybrid advisory firm based in Miami, Florida, with nearly $15M of revenue and almost 60 team members, supporting over 1,700 client households.

Financial Planning

Financial Planning Clients Planning Wealth Advisor

Values, Purpose, Action: A 3-Part Approach To Establish A “Statement Of Financial Purpose” And Unlock Deeper, More Meaningful Planning Conversations With Clients

Nerd's Eye View

NOVEMBER 6, 2024

In the early days of financial planning, serving clients often meant developing transactional relationships focused on facilitating trades and selling insurance. Over time, advisors shifted toward more analytical approaches, such as investment management and retirement planning.

Clients

Clients Planning Financial Planner Financial Planning

Why Don’t Prospects Commit? How “Negative Close” Can Be A Powerful Way To Help Prospects Move Forward

Nerd's Eye View

DECEMBER 25, 2024

The typical prospecting process involves multiple meetings, and a fairly common response for advisors to hear after giving their 'pitch' is that the client needs some extra time to think about it. I can only onboard 3 clients in a given quarter. Read More.

Financial Planner

Financial Planner Clients Sales Business Planning

A 3-Step Sales Process To Clearly Demonstrate Financial Planning Value To Prospects

Nerd's Eye View

NOVEMBER 25, 2024

Over the past decade, a growing number of advisors have expanded into offering comprehensive financial planning services, reflecting a shift that not only helps them stand out from (increasingly commoditized) portfolio management offerings but also supports clients' broader financial goals.

Financial Planning

Financial Planning Sales Planning Retirement

Firms Not Offering Tax, Retirement Planning Are Getting it Wrong

Wealth Management

OCTOBER 4, 2023

Advisors are overdelivering services such as health care, estate and business planning, while falling short in the areas their clients most desire.

Retirement Planning

Retirement Planning Planning Retirement Business Planning

The 5 Dysfunctions Of Client/Advisor Relationships: How Advisors Can (Re-)Build Trust And Spur Clients Into Action

Nerd's Eye View

AUGUST 12, 2024

In the modern era of financial advice, the advicer/client relationship is tightly centered on trust. Then, because the client isn't "bought in" to the recommendations, they simply don't act on what the advisor recommends.

Clients

Clients Financial Advice Accounting Business Planning

#FASuccess Ep 416: Avoiding The Compliance Headaches When Going RIA By Choosing A ‘Supported Independence’ Corporate RIA Platform, With Fran Toler

Nerd's Eye View

DECEMBER 17, 2024

Fran is the CEO of Toler Financial Group, an RIA based in Silver Spring, Maryland, that oversees nearly $200 million in assets under management for 280 client households. My guest on today's podcast is Fran Toler.

Compliance

Compliance Financial Advisor Financial Advice Clients

#FASuccess Ep 423: Expanding Across The Household By Helping (Affluent) Sandwich Generation Kids With Their Parents’ Financial Needs, With Cristina Livadary

Nerd's Eye View

FEBRUARY 4, 2025

Cristina is the CEO of Mana Financial Life Design, an RIA based in Los Angeles, California (but works virtually with clients nationwide), that oversees approximately $70 million in assets under management for 119 client households. Read More.

Financial Advisor

Financial Advisor Clients Financial Planning Planning

Holistiplan Launches Estate Plan Document Extraction Tool (And More Of The Latest In Financial #AdvisorTech – November 2024)

Nerd's Eye View

NOVEMBER 4, 2024

And for #AdvisorTech companies who want to submit their tech announcements for consideration in future issues, please submit to TechNews@kitces.com !

Estate Planning

Estate Planning Planning Communication Clients

Five “Self-Persuasion” Questions To Connect With Prospects Who Say They’re Interested… But Aren’t Moving Forward

Nerd's Eye View

JANUARY 22, 2025

I help clients in retirement by doing X, Y, and Z."). For these clients, connection and understanding are often more important than problem-solving, and advisors who focus too quickly on identifying potential future issues risk alienating these prospects. However, not all prospects have immediate financial concerns.

Financial Advice

Financial Advice Financial Planning Retirement Clients

#FASuccess Ep 421: Integrating Tax Preparation Without Hiring In-House CPAs To Bring More Tax-Focused Value, With Daniel Friedman

Nerd's Eye View

JANUARY 21, 2025

Daniel is the CEO of WMGNA, a hybrid advisory firm based in Farmington, Connecticut, that oversees approximately $270 million in assets under management for 200 client households.

Taxes

Taxes Tax Planning Financial Advisor Compensation Planning

3 Question Types To Go From (Just) Retained To Highly Engaged And Happier Clients

Nerd's Eye View

APRIL 17, 2024

After advisors do all of the work of bringing on a new client (Marketing! And while all may appear well on the surface – the client rarely contacts the advisor with problems but they show up for every annual meeting – they may actually be feeling quite disengaged with the financial planning services being provided.

Clients

Clients Financial Planning Planning Compliance

5 Questions Using Risk Assessment Data That Help Advisors Understand Clients’ True Concerns About Risk

Nerd's Eye View

MAY 8, 2024

Measuring a client's tolerance for risk is an essential (and required!) step when onboarding a new client, as making any sort of recommendation is impossible without first understanding how comfortable clients may be when their portfolios inevitably experience volatility. And while few (if any!)

Clients

Clients Risk Tolerance Financial Planning Planning

How Advisors Can Get Client Referrals Identifying “Active Promoters”

Nerd's Eye View

MARCH 11, 2024

Referrals can play a vital role in the growth of financial advisory firms since finding prospective clients via referral requires virtually no hard-dollar costs, and it takes only a fraction of the time needed for other marketing channels like social media, blogging, and seminars. refer others to) the advisor.

Clients

Clients Media Accounting Management

Creating Client Service Calendars That Demonstrate Ongoing Advisor Value

Nerd's Eye View

FEBRUARY 13, 2023

While it can be easy for financial advisors to recognize the wide range of ways they add value for clients throughout the year, clients themselves might not be aware of what their advisors do for them behind the scenes outside of their annual meetings (e.g., rebalancing their investment accounts or reviewing their insurance policies).

Clients

Clients Financial Planning Planning Financial Advisor

How Advisors Can Get Client Referrals By Identifying “Active Promoters”

Nerd's Eye View

MARCH 11, 2024

Referrals can play a vital role in the growth of financial advisory firms since finding prospective clients via referral requires virtually no hard-dollar costs, and it takes only a fraction of the time needed for other marketing channels like social media, blogging, and seminars. refer others to) the advisor.

Clients

Clients Media Accounting Management

Orion Acquires Summit Wealth Systems To Become Its Next-Generation All-In-One Portal (And More Of The Latest In Financial #AdvisorTech – January 2025)

Nerd's Eye View

JANUARY 6, 2025

FINNY AI, an AI-powered prospecting tool, has raised $4.2 FINNY AI, an AI-powered prospecting tool, has raised $4.2 FINNY AI, an AI-powered prospecting tool, has raised $4.2

Startup

Startup Financial Advisor Clients Portfolio Management

3 Key Principles For Measurable and Actionable Standards That Help Cultivate Excellent Client Service

Nerd's Eye View

JULY 29, 2024

Most financial advisors strive to provide excellent client care and prioritize a systematic process to maintain regular communication with their clients both on a scheduled (e.g., Suddenly, the question of, "What does it mean to provide the best care for clients at this firm as a team?" annual meeting) and an "on demand" basis.

Clients

Clients Communication Healthcare Planning

How Outsourcing Marketing Can Unlock Growth Potential For Advisory Firms: Key Steps For Choosing The Right Provider

Nerd's Eye View

NOVEMBER 11, 2024

Reviewing both current marketing efforts and aspirational goals for client engagement can help advisors determine where outsourcing may add the most value. Advisors might consider outsourcing roles such as social media management, search engine optimization, web development, event management, and performance analytics, among other options.

Marketing

Marketing Marketing Communication Engineering

7 Lessons Learned Launching A Sustainable Business Model To Serve (And Attract!) Profitable Millennials And Gen Z Clients

Nerd's Eye View

SEPTEMBER 16, 2024

However, because many next-generation clients such as those who are Millennials and Gen Zers are still building their assets up, paying $10,000 or more in advisory fees each year may not be feasible for them… at least not yet. robo-managed portfolios) at a lower fee.

Clients

Clients Planning Tax Planning Management

From New-Hire To Confident Advisor: Structuring A First-Year Associate Advisor Onboarding Plan To Develop Technical And Client Skills

Nerd's Eye View

MARCH 24, 2025

We have provided an onboarding plan template for advisors to download, which breaks up the skills list into two primary categories: 1) client communication skills (e.g., building an initial financial plan). meetings, email communication, and phone calls), and 2) technical skills (e.g.,

Planning

Planning Clients Financial Planning Communication

Abandoning Surge Meetings To Better Meet Client Needs And Promote Advisor Well-Being

Nerd's Eye View

FEBRUARY 20, 2023

One of the most important parts of a financial advisor’s value proposition is time spent meeting with their clients. These meetings allow advisors to listen to their clients’ concerns, make planning recommendations, and chart a course for the coming months.

Clients

Clients Financial Planning Planning Financial Advisor

#FA Success Ep 385: Unblocking Clients That Won’t Implement With A Journey Of Financial Health, With Danielle Howard

Nerd's Eye View

MAY 14, 2024

Danielle is the owner of Wealth By Design, a hybrid advisory firm based in Glenwood Springs, Colorado, that oversees about $35 million in assets under advisement for 35 client households.

Clients

Clients Financial Planning Financial Advisor Planning

Optimizing Virtual Client Meetings To Make Them More ‘Real’ And Less Exhausting

Nerd's Eye View

NOVEMBER 13, 2023

Traditionally, financial planning meetings have been held face-to-face in an advisor's office, and over the years, a body of research has emerged showing that how the advisor's office is laid out can have a significant impact on how clients perceive the advisor, their mood during the meeting, and even their resulting financial planning decisions.

Clients

Clients Financial Planning Planning Communication

Communicate (The Necessity Of) Fee Increases With A Client-Centric, Value-Based Approach

Nerd's Eye View

JUNE 19, 2023

The necessity of fee increases entails a certain amount of pain for monthly-fee advisors since each conversation around raising fees creates the possibility of pushback from clients that could put a strain on the client-advisor relationship. Read More.

Communication

Communication Clients Planning Financial Advisor

Moving On From Clients Who Aren’t A Fit By Establishing ‘Kill Criteria’ To Protect Yourself

Nerd's Eye View

AUGUST 14, 2023

When a financial advisor first opens their own firm, they often start with few (or no) clients and little revenue. letting a client go), it can help to have a ‘quitting coach’ to hold the individual accountable for their pre-commitment. And because actually following through on kill criteria can be challenging (e.g.,

Clients

Clients Accounting Financial Advisor Numbers

Quantifying (More Accurately) The Real Impact Of A Financial Advisor’s Costs On Their Clients’ Nest Eggs

Nerd's Eye View

OCTOBER 23, 2024

Though in practice, while a 1% AUM fee is a common 'starting point' in the industry, the actual fee structure can vary based on the firm's approach; for example, some firms may reduce the fee for high-net-worth clients, or charge an additional fee for separate and additional services (from deeper financial planning to add-ons like tax preparation).

Clients

Clients Financial Advice Financial Planning Financial Advisor

CEO Peer Groups: A Strategy For Financial Advisors To Build Trust With And Attract Business Owner Clients

Nerd's Eye View

SEPTEMBER 30, 2024

When it comes to focusing on a niche for financial advisors, business owner clients can be an appealing target as they can have complex financial planning problems ranging from cash flow management to tax planning to acquisition strategies.

Financial Advisor

Financial Advisor Clients Financial Planning Tax Planning

Wealth.com Raises $30M To Provide Estate Documents To Advisors’ Clients (And More Of The Latest In Financial #AdvisorTech – October 2024)

Nerd's Eye View

OCTOBER 7, 2024

This month's edition kicks off with the news that digital estate planning platform Wealth.com has raised a whopping $30 million in Series A funding, following on the heels of Vanilla's follow-on $20M capital round just a few months ago – which on the one hand reflects the anticipated enthusiasm for solutions that can help advisors efficiently (..)

Clients

Clients B2B Estate Planning Planning

#FASuccess Ep 391: Improving Efficiency (In A Solo Practice) By Eliminating What Clients Don’t Really Care About Anyway, With Christopher Jones

Nerd's Eye View

JUNE 25, 2024

Chris is the founder of Sparrow Wealth Management, an RIA based in Orlando, Florida, that oversees approximately $110 million in assets under management for 68 client households.

Clients

Clients Financial Advisor Financial Planning Planning

#FASuccess Ep 412: 3X’ing The Business With No More Than 50 Great Clients By Hyperfocusing On Who You Can Add The Most Value For, With Anjali Jariwala

Gathering Feedback That Counts: Crafting Client Surveys To Offer Services That Matter Most

Webinars

Trending Sources

Graduating Clients The Right Way: A Thoughtful Approach To Sustainably Transition ‘Small’ Clients To On-Demand

Webinars

#FASuccess Ep 409: Adding 1,400 New Clients In A Year As An Extension Of Doing (Profitable) Student Loan Consulting At Scale, With Travis Hornsby

#FASuccess Ep 419: Attracting Clients Who Want To Align Their Investments With Their Values With A Sustainable Investing Approach, With Peter Krull

Fix, Fine, Flourish: A Framework To Take Clients From (Just) “Fine” Staganancy To Being Engaged Again

Inspired Discovery: Asking Vision Questions To Focus On Clients’ “Ideal Self”

Myriad Launches Cybersecurity and Strategic Business Planning Solutions

Why a Solo Retreat is Great for Annual Business Planning for Financial Advisors

#FASuccess Ep 426: Rolling Out An Equity Compensation Plan To Align The Entire Team On Client Service And Profitable Growth, With Jennifer des Groseilliers

#FASuccess Ep 432: Crafting “Input Deliverables” That Show Financial Planning Value To Clients Without Creating Busy-Work, With Seth Scott

Highlights From The Advise AI Conference 2024

A Recordkeeping Checklist For Financial Planning Services: Proactive Documentation Of Service Delivery To Reduce Regulatory Scrutiny

#FASuccess Ep 417: Establishing Your Authority As An Expert By Following A Short Book Formula For Authorship, With Paul G. McManus

#FASuccess Ep 425: Implementing A Financial Planning Quality Control System To Improve Both Client Outcomes And Referrals, With Sebastian Guerra

Values, Purpose, Action: A 3-Part Approach To Establish A “Statement Of Financial Purpose” And Unlock Deeper, More Meaningful Planning Conversations With Clients

Why Don’t Prospects Commit? How “Negative Close” Can Be A Powerful Way To Help Prospects Move Forward

A 3-Step Sales Process To Clearly Demonstrate Financial Planning Value To Prospects

Firms Not Offering Tax, Retirement Planning Are Getting it Wrong

The 5 Dysfunctions Of Client/Advisor Relationships: How Advisors Can (Re-)Build Trust And Spur Clients Into Action

#FASuccess Ep 416: Avoiding The Compliance Headaches When Going RIA By Choosing A ‘Supported Independence’ Corporate RIA Platform, With Fran Toler

#FASuccess Ep 423: Expanding Across The Household By Helping (Affluent) Sandwich Generation Kids With Their Parents’ Financial Needs, With Cristina Livadary

Holistiplan Launches Estate Plan Document Extraction Tool (And More Of The Latest In Financial #AdvisorTech – November 2024)

Five “Self-Persuasion” Questions To Connect With Prospects Who Say They’re Interested… But Aren’t Moving Forward

#FASuccess Ep 421: Integrating Tax Preparation Without Hiring In-House CPAs To Bring More Tax-Focused Value, With Daniel Friedman

3 Question Types To Go From (Just) Retained To Highly Engaged And Happier Clients

5 Questions Using Risk Assessment Data That Help Advisors Understand Clients’ True Concerns About Risk

How Advisors Can Get Client Referrals Identifying “Active Promoters”

Creating Client Service Calendars That Demonstrate Ongoing Advisor Value

How Advisors Can Get Client Referrals By Identifying “Active Promoters”

Orion Acquires Summit Wealth Systems To Become Its Next-Generation All-In-One Portal (And More Of The Latest In Financial #AdvisorTech – January 2025)

3 Key Principles For Measurable and Actionable Standards That Help Cultivate Excellent Client Service

How Outsourcing Marketing Can Unlock Growth Potential For Advisory Firms: Key Steps For Choosing The Right Provider

7 Lessons Learned Launching A Sustainable Business Model To Serve (And Attract!) Profitable Millennials And Gen Z Clients

From New-Hire To Confident Advisor: Structuring A First-Year Associate Advisor Onboarding Plan To Develop Technical And Client Skills

Abandoning Surge Meetings To Better Meet Client Needs And Promote Advisor Well-Being

#FA Success Ep 385: Unblocking Clients That Won’t Implement With A Journey Of Financial Health, With Danielle Howard

Optimizing Virtual Client Meetings To Make Them More ‘Real’ And Less Exhausting

Communicate (The Necessity Of) Fee Increases With A Client-Centric, Value-Based Approach

Moving On From Clients Who Aren’t A Fit By Establishing ‘Kill Criteria’ To Protect Yourself

Quantifying (More Accurately) The Real Impact Of A Financial Advisor’s Costs On Their Clients’ Nest Eggs

CEO Peer Groups: A Strategy For Financial Advisors To Build Trust With And Attract Business Owner Clients

Wealth.com Raises $30M To Provide Estate Documents To Advisors’ Clients (And More Of The Latest In Financial #AdvisorTech – October 2024)

#FASuccess Ep 391: Improving Efficiency (In A Solo Practice) By Eliminating What Clients Don’t Really Care About Anyway, With Christopher Jones

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