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Ep 210: Growing Your Client Base By Making Advice The "Product" And Quantifying Its Value with Sten Morgan
Ep 210: Growing Your Client Base By Making Advice The "Product" And Quantifying Its Value with Sten Morgan
ratings:
Length:
108 minutes
Released:
Jan 5, 2021
Format:
Podcast episode
Description
Sten Morgan is the founder of Legacy Investment Planning, a hybrid advisory firm near Nashville that generates more than $2 million in revenue per year from 220 affluent clients. Sten is one of the most accomplished young advisors in the country and has built his success by focusing on putting himself—and his advice—at the forefront of his product offering. Listen in as Sten shares how he built his advisory firm by using a philosophy that embraces “the advisor is the product,” and why he charges a full-rate financial planning fee with a monthly retainer in the hundreds or thousands of dollars—and then discounts his AUM fees for those who subsequently implement with him. He’ll also dive into how he quantifies the economic benefits his advice will bring to get clients comfortable with his fees, the mindset changes that were critical for him to turn a struggling advisory into a successful one, and why it’s best to start not with your why but with your who. For show notes and more visit: https://www.kitces.com/210
Released:
Jan 5, 2021
Format:
Podcast episode
Titles in the series (100)
Ep 019: The Evolution And Emergence Of A True Financial Planning Profession With Bob Veres: For the past three decades, Bob Veres has witnessed, dissected, and predicted the major shifts of the financial planning profession. by Financial Advisor Success