Nerd's Eye View blog

Leveraging Educational YouTube Videos To Drive Hundreds Of New Clients Per Year: #FASuccess Ep 445 With James Conole

July 8, 2025 07:01 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 445th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is James Conole. James is the founder of Root Financial, an RIA based in Encinitas, California, that oversees $1.3 billion in assets under management for 630 client households.

What's unique about James, though, is how his firm has experienced massive growth (expecting to grow its revenue from $4.6 million to more than $10 million in 2025 alone) thanks in part by attracting clients who have engaged with his educational YouTube videos.

In this episode, we talk in-depth about how James found that transitioning from audio and video content covering general personal finance topics to material specifically for his ideal target clients (pre-retirees and retirees with at least $2 million in investible assets) initially led to fewer viewers but ultimately to more interested prospects, why James views consistency (in his case, posting a new YouTube video weekly) and depth of content (to differentiate his videos from others covering more surface-level material) as keys to his success attracting clients through this medium, and how James has created a separate YouTube channel that offers prospective clients (and potential employees) a behind-the-scenes look at how Root operates and the people behind it (giving these groups a better idea of what they could expect if they work with the firm).

We also talk about how James (once his firm started to receive a strong flow of leads) increased the friction involved for prospects to schedule an introductory meeting by requiring them to fill out a short form on their financial situation and disclosing the firms fees and asset minimums (leading to a higher percentage of meetings with good-fit prospects), how James firm transitioned from a three-meeting sales process to what it calls a "one-meeting close" (enabled in part by prospects already being familiar with the firm and how it operates based on their experience with its YouTube videos), and how James established a standardized system of five meeting types (in order, discovery, income, investments, retirement and tax projections, and security) to efficiently onboard new clients as the firm grows.

And be certain to listen to the end, where James shares how instituting a $2 million asset minimum for clients allows the firm to reinvest more aggressively (particularly into new staff to handle its rapid client growth) and position itself to potentially create a service for less wealthy clients down the line, how James firm standardized advisor training into its "Root University" program (which leverages tech tools like Monday.com and Loom to provide a consistent and scalable training experience), and how James is working to establish a strong company culture in a remote working environment (including by holding annual company retreats and smaller in-person gatherings among members of individual teams).

So, whether youre interested in learning about leveraging YouTube to increase the number of inbound leads who are already familiar with you and your firm, executing a more efficient prospect-to-client conversion process, or creating a tech-centric training system to ensure consistent service across advisors within the firm, then we hope you enjoy this episode of the Financial Advisor Success podcast, with James Conole.

	
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Wealthbox Signals Plan To Move Upmarket After Selling $200M Majority Stake (And More Of The Latest In Financial #AdvisorTech – July 2025)

July 7, 2025 07:02 am 0 Comments CATEGORY: Technology & Advisor FinTech

Welcome to the July 2025 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!

This month's edition kicks off with the news that CRM provider Wealthbox has sold a majority stake in itself to PE firm Sixth Street, marking a new phase in its growth from having a customer base primarily concentrated among small and midsize RIA firms to an increasing focus on larger enterprise firms – which on the one hand is a necessary step in the growth cycle of a technology startup as its existing users grow larger and much of its untapped market lies among bigger enterprises; but which also raises the questions of what changes it will make to compete with platforms like Salesforce among enterprise firms (e.g., enhancing its customization or workflow capabilities), as well as whether focusing more on larger firms will cause it to lose some of the innovative spark that came from rapidly iterating based on the feedback from individual users (which was part of what helped it grow so popular to begin with)!

From there, the latest highlights also feature a number of other interesting advisor technology announcements, including:

Envestnet has agreed to a deal to sell the data aggregation provider Yodlee, which Envestnet bought for $590 million in a much-scrutinized deal 10 years ago – which both encapsulates Envestnet's struggles to make its many technology acquisitions add up to more than the sum of their parts (which Envestnet is now starting to undo by divesting from those acquisitions under its new owner Bain Capital) as well as the broader failure of data aggregation to live up to its early promise
Canadian financial planning software Conquest Planning has raised $80 million as it aims to make inroads into the U.S. market while differentiating on its AI-driven "Strategic Advice Manager" that automatically suggests (and even recommends) planning strategies based on client inputs – which could serve as an interesting test as to whether U.S. advisors will have any interest in AI-embedded financial planning software or whether they see it as encroaching on their own value proposition
NerdWallet has purchased an RIA to serve clients who find NerdWallet via its trove of personal finance content, while also rolling out an "advisor matching" lead generation program to refer prospects out to other advisors, which both highlights the huge business opportunity in lead generation (in that a platform that can effectively bring in prospective clients can monetize them both by funneling them to its own RIA and by selling them to other advisors), but also raises questions about the conflicts of interest that occur when an advisor matching program matches clients with its own in-house advisors!

Read the analysis about these announcements in this month's column, and a discussion of more trends in advisor technology, including:

As technology providers are increasingly building or acquiring AI notetaking tools to integrate into their own solutions (often for no extra cost beyond the base subscription for the underlying software), there is becoming less and less need to use a standalone AI notetaker – which means that the existing standalone providers will likely need to find more ways to enhance their value, or face struggles amid the increasing commoditization of AI notetaking
The proliferation of new AdvisorTech solutions over the years has led many to speculate that the industry is overdue for consolidation or contraction – and yet the more likely scenario is that the pace of growth increases going forward as no-code developing tools lower the barriers to building and releasing software… which on the one hand will make it even more difficult to navigate the software options on the market, but on the other hand will help to better highlight the gaps where existing solutions are failing to serve advisors' needs and increase the overall quality of AdvisorTech going forward!

And be certain to read to the end, where we have provided an update to our popular "Financial AdvisorTech Solutions Map" (and also added the changes to our AdvisorTech Directory) as well!

*To submit a request for inclusion or updates on the Financial Advisor FinTech Solutions Map and AdvisorTech Directory, please share information on the solution at the AdvisorTech Map submission form.

	
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Weekend Reading For Financial Planners (July 5–6)

July 4, 2025 02:00 pm 0 Comments CATEGORY: Weekend Reading

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that Congress has passed highly anticipated tax legislation, making 'permanent' (i.e., without a scheduled sunset) the lower individual tax rates enacted as part of the 2017 Tax Cuts and Jobs Act (TCJA), increasing the estate and gift tax exemption (which was scheduled to revert to approximately $7.14 million next year) to $15 million in 2026, and raising the limit on the deductibility of State And Local Taxes (SALT) to $40,000 (though this measure is scheduled to revert to the current $10,000 in 2030 and begins to phase out for consumers with more than $500,000 of income), among many other measures. Which will ultimately provide greater tax planning certainty to advisors and their clients for 2025 and beyond (and avoid the year-end rush they faced with the late-December passage of TCJA in 2017).

Also in industry news this week:

A recent survey of wealth management firm leaders found that while respondents were confident in their abilities, many are facing challenges finding the right people for their teams and creating time to support them
RIAs are being targeted by a phishing attack impersonating an SEC official, highlighting the value of vigilance and staff training in the face of varied cybersecurity risks

From there, we have several articles on retirement planning:

How population-wide life expectancy statistics can provide misleading estimates when it comes to choosing a specific client's life expectancy for financial planning purposes
The cognitive biases that can lead clients to underestimate their life expectancy and affect their financial decision-making
How financial advisors can add value for client couples by assessing both longevity and mortality risk when creating retirement income plans

We also have a number of articles on practice management:

Why taking a proactive approach can help an aspiring successor show a firm founder how they can be an effective partner in helping the firm grow into the future
A look into the range of financing options available for advisors looking to buy an equity stake in their firm without making a large, lump-sum payment
How some founders are turning to "synthetic equity" programs to create incentives to attract and retain talent without giving up control over the firm

We wrap up with three final articles, all about (financial) independence:

While many clients might say they have a goal of financial independence, this concept can mean very different things to different individuals (and can change over time)
Why pursuing an extreme version of financial independence could lead to a less enjoyable and meaningful lifestyle, and how alternative approaches can provide a sense of freedom without having to make some of these sacrifices
How to cultivate a sense of independence that goes beyond financial means and extends to the ability to live life on one's own terms

Enjoy the 'light' reading!

	
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2025 Mid-Year Market Outlook: 9 Key Questions To Frame Client Conversations

July 2, 2025 07:01 am 0 Comments CATEGORY: Investments

The first half of 2025 has been a wild ride, both in terms of news headlines and market movements. From tariffs, a market correction, and an escalating conflict in the Middle East to the dollar reaching a three-year low, the investment landscape presented many reasons for concern. Nonetheless, the market has staged one of the fastest recoveries in history, and the S&P 500 is hovering near all-time highs despite seeing its year-to-date return falling to a low of -15.3% in April.

In this guest post, James Liu, CEO and founder of Clearnomics, offers an analysis of nine key questions that could be relevant for upcoming client conversations, from the potential economic and market impact of tariffs to the Federal Reserve's views on interest rates and their future direction.

One of the major news topics during the first half of the year was the ups and downs of U.S. tariff and trade policy, with President Trump announcing a set of increased tariffs on a wide range of countries, then pausing or reducing some while keeping overall tariff levels higher than before he assumed office in January. While the U.S. stock market has rebounded following the partial tariff easing, some clients might be wondering whether the ongoing tariff saga will induce a recession. So far, though, the U.S. economy has been resilient, with encouraging inflation trends and unemployment remaining relatively low. And while the first quarter saw a negative GDP figure, this appears to be due in large part to a surge in imports ahead of expected tariffs.

Always a subject of intrigue, the Federal Reserve has received significant attention this year as market participants await expected rate cuts. So far, the Fed has maintained its key policy rate – the federal funds target range – at 4.25% to 4.50%, demonstrating a measured approach to monetary policy. While the Fed will likely balance potential future weakness in economic growth against possible tariff-induced inflation when making rate decisions, the general consensus among Fed officials continues to be that there could be two rate cuts in 2025.

Looking beyond the United States, some clients might be concerned that global affairs – such as the ongoing conflicts in the Middle East – could affect their portfolios. So far, though, markets have largely shrugged off geopolitical concerns, with international stocks outpacing their U.S. counterparts so far this year (rewarding investors who maintained allocations to international stocks) and oil prices remaining at relatively low levels.

In terms of valuations, current multiples for the S&P 500 remain above historical averages, even after the earlier market correction, which suggests less room for error as stocks become more sensitive to disappointments in earnings or growth projections. In this environment, some investors might favor sectors or segments that offer reasonable value relative to expected growth, which has helped drive increased interest in international markets, small- and mid-cap stocks, and value-oriented sectors trading at more attractive multiples. At the same time, fixed-income markets continue to have valuations that look very reasonable, providing a positive balance to diversified portfolios.

Ultimately, the key point is that amid the range of economic and market developments in the first half of 2025, investors who have stayed the course and maintained diversified portfolios have been rewarded with positive returns. Which could serve as an opportunity for advisors to demonstrate to their clients how they have positioned their portfolios appropriately for their unique investment timeframes and financial goals!

	
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Driving More Client Referrals In The First 100 Days By Crafting An Exceptional Onboarding Experience: #FASuccess Ep 444 With Libby Greiwe

July 1, 2025 07:04 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 444th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Libby Greiwe. Libby is the founder of The Efficient Advisor, a financial advisor coaching and consulting business based in Loveland, Ohio, that's focused on helping advisors create systems and processes for themselves so that they can run their businesses in less time and with less stress.

What's unique about Libby, though, is how she has created a system for onboarding clients (based on her experience as a coach and as a financial advisor herself) that demonstrates a firm's professionalism, reduces points of friction, and shows personal touches, that together can drive client referrals after just their first 100 days with the firm.

In this episode, we talk in-depth about how Libby divides the onboarding process into three segments, with the first 30 days being a "window of professionalism", the second 30 days aiming to "surprise and delight", and the remainder of the period being an opportunity to "shock and awe", how Libby conducted what she calls "paperwork parties" with her financial planning clients within the first 30 days of onboarding to complete required paperwork in person or on a video call to avoid the hassle and mistakes that can come when clients are left to complete these tasks on their own, and how Libby then sent weekly emails to keep clients updated on where all of their action items (for example, account transfers) stood.

We also talk about how Libby held formal onboarding meetings during the second 30-day period to get relatively small "to-dos" completed (for example setting up account logins and ensuring listed beneficiaries are correct) to avoid potential problems down the line, how Libby would also communicate expectations for both the firm (for example, the best way for clients to communicate and when to expect a response) and the clients themselves (including the expectation that they will meet with their advisor at least once per year), and how Libby, in the final part of first 100 days, held a meeting to walk new clients through their first investment statement (and any new insurance policies that were put into place) to prevent confusion over the many transactions that occurred moving their funds over and investing them.

And be certain to listen to the end, where Libby shares how she compares the client prospecting and onboarding processes to dating and marriage (where it's important to continue to show care and attention even after entering into a formal commitment to the other person, whether a spouse or a client), how Libby and her advisory firm staff purposefully gathered and tracked "intel" on her clients' interests and preferences (aiming to learn at least one piece of information during each interaction with them) to inspire gifts or other thoughtful gestures near the end of the onboarding process and throughout their time as clients, and how Libby ultimately found that taking time to slow down and go the extra mile for clients during the onboarding process (even if it took more of her or her team's time) led to a strong return on her investment in the form of more referrals and greater client satisfaction.

So, whether you're interested in learning about creating an onboarding process that wows new clients and drives more referrals, how to organize the onboarding process to demonstrate the firm's competence and keep clients engaged, or how to continue to a high level of thoughtfulness for clients going forward once they've completed the onboarding process, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Libby Greiwe.

	
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First Look At The New Kitces Members Section And The State Of The (Nerd’s Eye View) Blog

June 30, 2025 07:01 am 0 Comments CATEGORY: Nerd's Eye View

The first quarter of 2025 brought a significant amount of turmoil for most financial advisory firms, as markets responded with high volatility to newly proposed tariffs – and advisors saw the challenging reality that in volatile markets, revenue dips while service demands from clients rise, as we're called (figuratively or literally) to help clients stay the course through turbulent times. Yet in recent months, the volatility has subsided, markets have rallied back near their highs, and advisory firms are back to dealing with the increasingly common challenge of how to continue to scale service in the face of growth as clients continue to accrue over time.

In recent years, the growth of Kitces.com has resulted in similar capacity constraints as our Members Section has grown by more than 20X since 2015, leading, in turn, to rapid growth of the team (from 2 to 25 team members since 2015), and ongoing reinvestments into technology. Which led us at the beginning of 2025 to announce a major new initiative for the year: to completely rebuild and replace our existing Members Section, which has struggled to keep pace with the growth of our Membership and the expanded breadth of our educational offerings to Members.

And now as we come to the middle of the year, we're excited to announce a first-look opportunity to check out our new Members Section. The new design and main navigation is in place, and the team has already solved for some of the most common problems (from a pathway to join Kitces webinars live via our new dashboard – without needing to search through your email to find the link – to a new Group Administrator dashboard for larger firms that need to manage the subscription of multiple members using Kitces), with a long list of more Members Section enhancements to come in the second half of the year (from a new Learning Center to manage all of your CE completions and certificates, to a new CE catalog interface to make it easier to filter for the kind of content you're looking for and navigate to it more expediently). Those who want to check it out (and leave us feedback on what you like and where we still need to improve!) simply need to click the "Experience What's New" button in the upper left corner of the current Members Section!

As we enter the midyear mark, the new Members Section isn't the only thing we spent the first half of the year building. We've also wrapped up the pilot for our new Directors of Financial Planning (DFP) Community, which is now open to any and all DFPs who want to join what is already a community of nearly 100 DFPs to share and collaborate on best practices in building and growing a centralized financial planning team and/or leading their firms' financial planning decisions (from what the 'right' client deliverables should be, to the best technology to select for a good client experience). As we also continue to expand our library of Kitces Training Courses (the new name for our MasterClasses, reflecting their intended focus to support Paraplanners and Associate Advisors) with a newly launched course on how to conduct a great Discovery Meeting with a new client, to be followed later this year by another on how to deliver a Financial Plan Presentation meeting.

As we enter midyear, registration is now open for our annual IAR Ethics CE Day taking place on Thursday, August 28th. We've also announced a Save-The-Date for a second IAR CE Intensive Day later this year – on Thursday, October 30th, we'll host an "IAR P&P CE Day" (covering the Products & Practice portion of the IAR CE requirement), with a particular focus on advanced tax and retirement planning. Which will now allow advicers to complete their full IAR CE obligation from our two CE Intensives, for those who would rather get their content through a live event than consume it incrementally through blog articles and webinars throughout the year. And yes, our IAR CE Intensives will still cross-apply CE credit for all other eligible CE types, including CFP, CPA, all the designations from IWI, College for Financial Planning, the American College, and more!

In the meantime, our own Team of Nerds continues to expand. We recently hired several new team members, including Managing Editor Robert Long and Research Associate Karl VonZabern! If you're wondering how you can get more involved with the Kitces team, you can also sign up for our separate Career Opportunities mailing list (via our Career Opportunities page) to be notified when new positions open up! And for those who don't want to join the team full-time but would simply like to 'Nerd Out' with us for a bit and share what they do or know with their fellow advicers, remember to check out our "How To Contribute" page to see how you can engage with the Kitces platform as a guest writer, presenter, or podcast guest!

Throughout it all, though, we remain focused on advancing our core mission – to "Make Financial Advicers Better, And More Successful" – through our four strategic pillars of supporting 'Nnovation of AdviorTech tools, delivering insightful Education, conducting original advicer Research, and facilitating the Development of financial advicer skills across the spectrum of experience and firm sizes (and yes… our organizational strategy does spell N-E-R-D☺). We look forward to continuing the journey with you in 2025 and beyond!

	
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Weekend Reading For Financial Planners (June 28–29)

June 27, 2025 02:01 pm 0 Comments CATEGORY: Weekend Reading

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week’s edition kicks off with the news that a recent study finds that while financial advisory firms on the whole have seen strong AUM growth in recent years, strong market performance might be masking organic growth challenges among many firms (though, notably, RIAs have been growing their advisor headcounts and market share, often at the expense of wirehouses and large broker-dealers during this time). The report suggests that firms seeking to boost their organic growth could do so by, among other tactics, building a stronger brand (e.g., by identifying what truly differentiates them in the marketplace for advice), leveraging digital lead generation capabilities, and more effectively using CRM software. Which could ultimately lead to a virtuous cycle of attracting more new clients as well as talented advisors who seek to work at growing firms.

Also in industry news this week:

While the estate tax exemption is slated to rise to $15 million in 2026 under Republican-proposed legislation, estate planning will remain a key topic for advisors and their clients across the wealth spectrum, from managing possible state estate tax exposure to ensuring that clients’ end-of-life preferences are met
A recent survey finds that while Americans frequently go online for personal finance information, they are quite skeptical about the advice they find, creating an opening for financial advisors to provide high-quality content and potentially attract new clients in the process

From there, we have several articles on investment planning:

While so-called "smart beta" factor strategies have tended to underperform the broader market after gaining in popularity in the mid-2010s, the lower valuations associated with them today could foretell a brighter future
Recent data paint a bleak picture for the performance of actively managed funds (across U.S. and international equities, as well as in the fixed income space), highlighting the challenge of selecting funds that will outperform their benchmarks over an extended period of time
At a time when alternative investment strategies are increasingly being marketed to financial advisors and retail investors, the true magnitude of their purported benefits (particularly when weighed against the expenses and relative illiquidity often associated with them) could be unclear

We also have a number of articles on marketing:

Six challenging questions that a prospect might ask a potential advisor to dig deeper beyond the advisor’s standard pitch
A framework to help advisors develop their sales skills, even if they don’t see themselves as salespeople
A five-step prospecting process for advisors to sell their value with greater confidence and trust

We wrap up with three final articles, all about credit cards:

Holders of certain "ultra-premium" credit cards will see the annual fees on these cards go up this year, leading to a calculation of whether the benefits that come with them are worth the higher fees
How to optimize the value of credit card rewards points, whether an individual is looking to redeem them for more frequent or higher-end travel
Why credit card companies’ most important customers aren’t those who regularly pay interest on their balances, but rather big spenders who use higher-end cards

Enjoy the ‘light’ reading!

	
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Kitces & Carl Ep 167: Are Financial Advisors Less Happy When Working With HNW Clients?

June 26, 2025 07:03 am 0 Comments CATEGORY: Kitces & Carl Podcast

In recent years, financial advice has expanded beyond spreadsheets and technical strategies to consider the behavioral and emotional factors driving clients’ relationships with money. Advisors today often serve not just as technical experts but also as thinking partners – helping clients process their money stories, explore values, and determine what they want their wealth to accomplish. Yet advisors also bring their own money histories, attitudes, and values into the relationship, which can influence not only how they interpret clients’ financial situations but also how they perceive their own financial standing.

In this 167th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards explore how advisors can productively navigate the personal and philosophical distance between themselves and their clients – particularly in cases where clients have higher income or net worth. As Kitces Research on What Actually Contributes To Advisor Wellbeing has found, advisor wellbeing tends to decrease as client net worth increases – while higher client income is associated with greater satisfaction. One possible reason is that advisors may subconsciously compare their own financial standing to that of their clients – especially when clients’ wealth is inherited or perceived as unearned.

Reflecting on their personal history with money may help advisors understand the formative stories and emotional associations with money throughout their lives. Even an exercise as simple as writing down a dollar sign and naming the first few emotions that come up can surface themes that shape how advisors think and respond around money, and how those beliefs show up in client work.

At the same time, advisors’ personal money stories may serve as a magnet for like-minded clients – and an asset to the relationship. For example, an advisor who sees money as a safety net may naturally attract clients who value security, while another who sees money as a means of freedom may resonate more with clients who prioritize flexibility. The similarities can foster trust, and the differences – when thoughtfully navigated – can lead to deeper conversations.

Ultimately, the key point is that comparison is a natural human impulse, but it doesn’t have to be a liability. With greater awareness of their own financial backstory, advisors can cultivate more meaningful client relationships and use their emotional insight to help clients connect more intentionally with their own values and goals. And by treating the emotional and philosophical distance as an opportunity for empathy and mutual reflection, advisors can unlock richer conversations and a deeper sense of purpose in the work they do!

	
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Helping Clients Understand When They Have Enough Retirement Savings To “Coast FIRE” (And Keep Working Without Necessarily Contributing More)

June 25, 2025 07:01 am 0 Comments CATEGORY: Retirement Planning

Many financial advisory clients might work for 40 years or more, ideally seeing their income – and capacity to save for retirement – increase over time as they advance in their careers. While many retire in their 60s (or even later), others with sufficient savings and/or guaranteed income sources might seek an earlier retirement, perhaps in their 50s. Still others, including adherents of the Financial Independence Retire Early (FIRE) movement, may hope to retire even sooner. But not every client may want to leave the workforce early. Some might prefer to retire at a more traditional age while gaining flexibility during their working years by switching to a lower-paying but more meaningful job, reducing their work hours, or taking occasional unpaid sabbaticals. For these clients, financial advisors can offer meaningful ongoing value by introducing and supporting a strategy known as "Coast FIRE".

A client reaches Coast FIRE when their retirement savings are projected to grow – without further contributions – into a portfolio large enough to support their anticipated future retirement spending needs. Which means they 'only' need to earn enough to cover their ongoing expenses while continuing to work, though their ability to keep saving can further strengthen their financial position, reduce risk, and provide additional flexibility. Determining when an individual has 'reached' Coast FIRE relies on a formula that calculates the current savings required to support income needs in retirement over the period that investments are expected to compound. Still, the strategy is often better viewed as offering a spectrum of possibilities, with clients adopting varying levels of commitment and risk.

While Coast FIRE might sound appealing to many clients, the best candidates will tend to have already accumulated sufficient savings earmarked for retirement and have relatively predictable expenses, since a sharp increase in future spending would require a larger portfolio to compensate. Such clients could include diligent savers (particularly those with additional savings outside of retirement accounts) or those who have received a windfall, such as from a workplace liquidity event or an inheritance.

Coast FIRE can be an attractive option for clients who value career flexibility, but the strategy also comes with both financial risks (e.g., changes to the client's spending, real rate of return, or retirement date) and psychological risks (e.g., stress from not necessarily contributing to retirement accounts) that could derail – or at least require adjustments to – a client's financial plan. This creates an opportunity for financial advisors to help clients assess whether Coast FIRE is sustainable (e.g., by stress-testing different scenarios) and to conduct regular reviews to determine whether adjustments may be needed.

Ultimately, while most clients won't tap into their retirement savings during their working years, those assets can still play a powerful role. By reducing the amount of income they need to earn, sufficient accumulated retirement assets can open the door to career changes, sabbaticals, or more flexible work schedules. This, in turn, allows financial advisors to add tremendous value – both by analyzing whether (and to what degree) Coast FIRE might be viable, and, at a more fundamental level, helping clients realize that they don't necessarily need to keep climbing the income ladder until the day they fully retire!

	
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#FASuccess Ep 443: Going Deep With Business Owners And Real Estate Investors To Grow $200M Of AUM In 5 Years, With Griffin Kirsch

June 24, 2025 07:02 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 443rd episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Griffin Kirsch. Griffin is the owner of GK Wealth Management, an RIA based in Reno, Nevada, that oversees $200 million in assets under management for 450 client households.

What's unique about Griffin, though, is how he has grown his AUM to $200 million in five years (with a 70% margin in terms of earnings before owner compensation) by providing high-touch planning for business owners and real estate investors even though he doesn't charge a fee on these assets.

In this episode, we talk in-depth about how Griffin leverages his own experience as a firm founder to support his business-owner clients navigate financial planning decisions (in particular, tax planning opportunities), how Griffin encourages his business-owner clients to invest a portion of their profits outside of the business to diversify their asset base and take advantage of opportunities in real estate and public markets, and how Griffin helps clients analyze options to purchase real estate (both for investment and personal use) as a high-value service.

We also talk about how Griffin brought in $50 million in client assets in 2020 alone in part by reaching out directly to businesses and letting them know about opportunities through the Paycheck Protection Program and Employee Retention Tax Credit (connecting them to a trusted CPA who became an effective referral partner), how Griffin builds relationships with key centers of influence, for instance by proactively reaching out to his clients' CPAs and communicating his tax planning recommendations (which saves time for the CPAs and leads to additional referrals to Griffin's firm), and why Griffin is willing to serve higher complexity clients who pay relatively low fees because they often have deep networks and are often his top referral sources.

And be certain to listen to the end, where Griffin shares how he segments clients based on complexity and the number of meetings and other touchpoints they need during the year (which doesn't necessarily line up directly with the investible assets they bring to the firm), how Griffin leverages third-party investment managers to save time on investment research and to provide access to a variety of strategies for clients with different asset allocation needs, and how Griffin not only is focused on additional growth within his firm but also ensuring that he is 'replaceable' (whether for an extended vacation or permanent absence) by giving the newer advisors in his firm more client-facing opportunities to ultimately make them 'irreplaceable'.

So, whether you're interested in learning about offering high-value services for business-owner clients, building relationships with key centers of influence, or leveraging third-party investment managers to improve business efficiency and client outcomes, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Griffin Kirsch.