Nerd's Eye View blog

#FASuccess Ep 428: Leveraging (Salesforce) CRM To Really Systematize A Mid-Sized Advisory Firm, With Lorie Jones

March 11, 2025 07:04 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 428th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Lorie Jones. Lorie is the wealth manager of Fearless Financial Advisors, a dba of hybrid advisory firm Fidelis Wealth Advisors based in Castle Rock, Colorado, where Lorie personally oversees $30 million in assets under management for 88 client households.

What's unique about Lorie, though, is how she has leveraged the functionality of the Salesforce CRM software (which is often used by larger firms due to its more extensive features and higher cost compared to other CRMs) to systematize processes and workflows not only for her individual practice but the entire eight-person $230M AUM advisory firm she's a part of (without needing to hire expensive Salesforce developers).

In this episode, we talk in-depth about how Lorie creates what she calls "magic buttons" placed in strategic locations in client records within Salesforce to allow her staff to conveniently initiate workflows that save time on common firm tasks like client onboarding and money movements, why Lorie currently uses the XLR8 Salesforce overlay (rather than Salesforce on a standalone basis) for its advisor-specific functionality and lower price point than buying Salesforce directly, and how Lorie views Salesforce's "clicks not code" functionality as an opportunity for firms to create custom automations and workflows without needing their own Salesforce developer or any deep coding expertise.

We also talk about how Lorie advanced from what was originally a purely administrative role at her first firm to eventually take on leadership of firm operations as a partner at a new advisory firm (allowing her to nerd out on Salesforce and spreadsheets) and then eventually adding advisory responsibilities and ultimately becoming a full-time advisor, how the toll of working in these dual roles eventually led Lorie to open her own business as a dba of her prior firm to focus on advisory (rather than operational) work and spend more time working with her ideal target client of high-net-worth women, and how Lorie overcame the challenges of loneliness when starting her own advisory practice by seeking out the advice of other women who had gone through the same journey.

And be certain to listen to the end, where Lorie shares how she balanced earning the CFP certification and an MBA while working in an advisory firm and raising 5 children, how Lorie got more comfortable in prospecting for clients after starting her own podcast in which she interviews successful female professionals, and how Lorie ultimately found that it was seeking out mentors, to learn from their experiences, that gave her the confidence to be more fearless when it came to making her own career decisions and take the leap to becoming a full-time advisor.

So, whether you're interested in learning about leveraging Salesforce in a mid-sized firm, making the decision of whether to pursue operational or advisory roles in a firm, or how interviewing individuals that match your ideal client avatar can increase your confidence when prospecting, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Lorie Jones.

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

March 10, 2025 07:04 am 0 Comments CATEGORY: Practice Management

Financial advicers often market their comprehensive financial services as a way to differentiate themselves from other advisory firms and to stand out in the broader landscape of financial advice. These services may range from 'standard' offerings like retirement planning to less traditional areas like credit card consulting. 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. However, as a firm's capacity grows and its list of services expands, the focus often shifts – from asking how to do more for clients – to "How can I regain control of my time without reducing the value or quality of my services?"

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. While advisors may make educated guesses about client preferences, this approach has its limits. Advisor often have different skills and perspectives than their clients (because if clients share the same inclinations, they might just be advisors themselves!), and it can be difficult to fully eliminate personal when evaluating clients' needs. One-on-one client calls can offer insights, but they're hard to scale and may unintentionally lead to biased responses.

A more efficient solution is an asynchronous client engagement survey, allowing clients to rate how much they value specific offerings. These surveys help advisors identify what to improve, what to reduce, and what to keep doing because clients enjoy it! Advisors can also gauge interest in potential future services, using that feedback as a compass for what to build next.

Beyond assessing service offerings, client engagement surveys provide advisors with an opportunity to gather feedback about other aspects of the business. Advisors can ask how much value clients feel they receive for their fees, how they perceive about the firm's overall responsiveness, and what the firm should stop or start doing. This detailed feedback can reveal unexpected insights into where clients are truly finding the most value!

In most cases, two weeks is enough time for the clients to complete the survey, with a few reminder emails sent while the survey is open. After the survey closes, advisors can evaluate the responses – what can they do more of? Where can they scale back? And which new business opportunities would clients value most? After some preliminary analysis, it's important to follow-up with clients, expressing appreciation and sharing at least one change the firm will make based on the survey results.

Ultimately, the key point is that client engagement surveys can be a powerful tool for advisors to identify what matters most to clients. They provide valuable insights not only on what to streamline but also on where clients are receiving the greatest value. Beyond improving efficiency, surveys demonstrate that the advisor values client input, strengthening relationships and enhancing satisfaction – which can lead to better retention and more referrals!Read More...

Weekend Reading For Financial Planners (March 8-9)

March 7, 2025 01:41 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 Congressional Republicans, who recently voted to set a $4.5 trillion target cost for their planned tax bill to replace the Tax Cuts and Jobs Act (TCJA), are currently debating whether the “baseline” for that cost should be the current law where TCJA’s provisions will expire in 2026, or if it should assume that TCJA doesn’t expire – the answer to which will largely dictate whether the next bill will ‘just’ extend TCJA (with few additional tax cuts), or whether it could go even further to include tax-free treatment of tips, an increase in the state and local tax deduction limitation, or even a repeal of the estate tax (among many other potential Republican tax priorities).

Also in industry news this week:

A recent survey by Citywire found that one of advisors’ biggest perceived threats to the industry is the potential for private equity ownership of RIAs to degrade the quality of service provided by advisory firms
The Corporate Transparency Act, which just last week had appeared to be back in effect, is now effectively on hold again after the Treasury Department announced it will not be enforcing the law’s Beneficial Ownership Information (BOI) reporting requirements

From there, we have several articles on AI productivity tools:

How advisors can craft a good prompt for creating effective written content using AI tools like ChatGPT
AI research tools can be an improvement on finding information via a Google search, though with the constantly shifting technology landscape it might be necessary to re-evaluate how they compare with one another on a regular basis
Why AI tools that automate many of the manual tasks currently done by younger advisors can free up more time for those advisors to learn the skills that will help them advance in their careers

We also have a number of articles on investing:

The growth of the biggest handful of U.S. stocks has outpaced the rest of the market by so much that the number of companies categorized as “large cap” has shrunk from nearly 500 to only around 150 over the last 15 years
Amid fears that U.S. stocks are in a speculative bubble owing to their high price-to-earnings ratios, an analysis shows that a reversion to historical averages would result in U.S. equities underperforming international stocks over the next 10 years
Why today’s high U.S. stock prices (as measured by the Shiller CAPE ratio) could be less about U.S. companies being overvalued and more about them simply having better growth prospects today than they did throughout the 20^th century

We wrap up with three final articles, all about health and energy:

Why taking regular naps can improve peoples’ energy and productivity levels (although the effects aren’t always the same for different people)
How humans’ origins as hunter-gatherers, and our evolutionary preference to conserve energy, can explain why it’s so hard to exercise solely for its own sake
With Daylight Savings Time starting again this weekend, people can reduce the impact of shifting forward one hour by making more gradual changes to their own schedules

Enjoy the ‘light’ reading!

Kitces & Carl Ep 159: When You Promised Early Clients Special Fees Or Minimums You Can No Longer Honor

March 6, 2025 07:03 am 0 Comments CATEGORY: Kitces & Carl Podcast

New financial advisors often start with below-market fees – sometimes to build confidence that prospects will actually pay, other times to attract clients quickly and establish a base. But as the firm grows, so does an advisor's skill set and the demands on their time. And while new clients often come in at higher fees, early clients may still be paying well below the firm's current rates.

As such, new firms that start with low fees might make plans to raise fees quickly and, in the meantime, avoid promising clients that the fees will stay the same. But what happens when an advisor did make this promise – and now needs to increase their fees anyway? How can they handle the conversation fairly while maintaining trust with long-standing clients?

In the 159th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to navigate the ethics and logistics of fee increases for a firm's first clients – especially when the advisor previously promised them their fees would stay the same.

As a starting point, it's important to acknowledge that many advisors feel a deep sense of gratitude and obligation toward their first clients. These were the people who took a chance on a new firm, often building multi-year relationships with the advisor. However, it's worth distinguishing actual promises from emotional obligations – in some cases, advisors may feel bound to a commitment they never explicitly made.

It's also important to consider the business impact of maintaining lower fees for early client segments. As while one or two clients paying below-market rates may not hurt the firm's financial health, several clients for whom the advisor granted exceptions can spell trouble down the road, either by impeding the firm's growth or the advisor's own capacity to sustainably produce high-quality service.

If an advisor did make an explicit promise never to raise fees but now needs to do so, the best course of action would be to have a direct face-to-face conversation. Acknowledging the past promise and explaining why the fee needs to change with honesty and transparency can go a long way. The advisor may emphasize how the firm has grown, compare the client's fees with the current market rate for financial advice, and help them understand the value of the service they're receiving. The advisor may be surprised by how understanding many long-standing clients will be – but for clients who are unable or unwilling to adjust, the advisor may need to guide them to a firm that better fits their budget.

Ultimately, the key point is that fee adjustment conversations – especially with long-standing clients – are rarely easy but may often be necessary. By approaching the conversation with honesty, clarity, and empathy, advisors can maintain trust and fairness while ensuring their firm remains sustainable… and may even be surprised by the client's reception. At the end of the day, charging fees that align with their value allows advisors to grow their firms and continue delivering great advice to more people!

Estate Planning In The Digital Age: Why Digital Assets Are A Critical Part And How To Help Clients Address Them

March 5, 2025 07:01 am 0 Comments CATEGORY: Estate Planning

Historically, estate planning centered on tangible documentation – wills, account access, and critical information stored in safes or files, with clear instructions for heirs. However, as assets and personal information have become increasingly digitized and moved online, ensuring smooth access to digital accounts has become increasingly complicated. Digital assets range from email accounts and social media to online banking and cryptocurrency – essential elements of daily life that are often trapped behind passwords and authentication barriers. As a result, integrating digital assets into estate plans has become a crucial part of an advisor's process.

Digital assets encompass a wide range of online accounts and property, from financial holdings to sentimental items like photographs and digital media libraries. While cryptocurrency is the most well-known example, even loyalty rewards and social media accounts hold personal and financial value. Yet, contrary to popular belief, providing heirs with usernames and passwords – while crucial – may not be enough.

Because platform privacy policies often dictate how digital assets are handled after a person's passing, unauthorized access can create serious legal and security concerns, including identity theft and privacy law violations. Unlike traditional assets, which are governed by established inheritance laws that dictate how they are handled after a person dies or becomes incapacitated, digital assets often fall under individual service providers' terms of service. Given these risks, it's essential that estate plans include clear, legally recognized instructions for accessing digital assets.

Advisors can help clients navigate this process with a blend of strategic conversations and technology. First, they can help clients create a comprehensive inventory of digital assets, from banking and email accounts to cloud storage and loyalty programs. Next, ensuring that provisions about digital assets are added to the will or trust are key – especially as regulations may allow wills and trusts to supersede a platform's ac–cess restrictions. Once digital provisions are in place, advisors can help clients store this information securely in a digital vault, making it easily accessible to heirs. Finally, maintaining – and periodically reviewing – an up-to-date estate plan that provides for digital assets ensures continued access and security as rules, accounts, and assets evolve.

Ultimately, the key point is that digital assets are a critical but often overlooked aspect of estate planning. When digital assets are given the same attention and care as physical assets, clients and their heirs can have greater peace of mind that their digital legacies will be preserved and transferred smoothly as well!

#FASuccess Ep 427: Finding The Director Of Operations That Can Rebuild Your Team To Get To The Next Level, With Sten Morgan

March 4, 2025 07:03 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 427th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Sten Morgan. Sten is the owner of Legacy Investment Planning, a hybrid advisory firm based in Franklin, Tennessee, that oversees $220 million in assets under management for 90 client households.

What's unique about Sten, though, is how he realized that the team that helped his firm reach an initial level of success as a $1M+ practice was not the team hed need to take it to the next level… and ultimately found he had to turn over 100% of his original team, led by a new Director of Operations who eventually re-staffed the entire firm, in order to rebuild the team for his firms next growth stage.

In this episode, we talk in-depth about how Sten recognized that while his firm appeared to be performing well (in terms of AUM, revenue, and other metrics) its culture was not resulting in the collective skillset and team member initiative needed to reach his growth goals, how Sten handled difficult conversations with team members to find the best resolution for both them and for the firm (which quickly brought his firms headcount down from 8 to 4), and why Sten decided to hire a new full-time director of operations to serve as an integrator to make even more changes to get both staffing and day-to-day firm operations back on track.

We also talk about how Sten and his operations director implemented a five-step process for hiring (which includes a resume review and screening call, an asynchronous video interview using the JobVite platform, an in-person interview, a work assignment, and then finally a team debrief to select a candidate), why Sten waits to interview at least four to six candidates for a position before making an offer to ensure his firm doesnt settle too quickly for the first candidate that appears to be qualified, and Stens best practices for using recruiting firms to support the hiring process (including the need to get guarantees from the firm in case the hire doesnt work out).

And be certain to listen to the end, where Sten shares why his firm is currently focused on hiring and maximizing internal operational efficiency before going through its next growth phase, why Sten recommends that firms try to be more proactive in hiring (for example by hiring today for a position that is going to be needed six months from now) rather than waiting to hit the next capacity ceiling to do so, and the process Sten uses to iterate on his own creative business ideas (taking time to think through ideas both in his mind and with the help of outside experts) to ensure they are well-vetted before taking action so he doesnt try to implement too many different ideas at once and focuses in to the few that will matter most.

So, whether youre interested in learning about making the difficult personnel decisions needed to take a firm to the next level, best practices in hiring (and how hiring a director of operations can help), or a process for iterating on new ideas for the business, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Sten Morgan.

Morningstar Office To Shut Down And Push Advisors To Black Diamond (And More Of The Latest In Financial #AdvisorTech – March 2025)

March 3, 2025 07:03 am 0 Comments CATEGORY: Technology & Advisor FinTech

Welcome to the March 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 Morningstar Office will be shutting down in early 2026 as a part of Morningstar's ongoing effort to refocus on its core investment data and analytics business – forcing advisors currently using the tool to switch (which might be a net positive for many of those advisors who have long complained about Morningstar's lack of investment into Office but have avoided making a change due to the arduous process of switching to another platform). And while Black Diamond has cut a deal with Morningstar to be the 'default' option for Office advisors to move to, a host of other portfolio management platforms are offering their own incentives as well, leaving Morningstar Office advisors with an opportunity to evaluate a large and crowded landscape of options to find the platform that will work best for them (so they don't have to endure another platform that they're unhappy with simply because of the high cost of switching)

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

All-in-one portfolio management platform CircleBlack has acquired AssetBook, which was one of the few remaining standalone performance reporting tools on the market, in a move that was likely more about gaining AssetBook's client base of small- and mid-size advisory firms than it was about acquiring new technology (given that CircleBlack already has a performance reporting solution on its existing platform) - which suggests that perhaps we've reached a saturation point in the portfolio management technology space where the most cost-effective way to get new clients is to acquire competing solutions, and perhaps heralds a forthcoming wave of consolidation in the crowded portfolio management category?
Advisor-focused AI meeting note solution Jump has completed a $20 million funding round, which reinforces its status as the emerging market leader in the crowded AI meeting note category – a status that may only increase from here if AI meeting notes, like most established AdvisorTech categories, evolves into a "winner-take-all" market where the top 1-2 solutions gain the vast majority of market share (with the caveat that Jump still faces significant competition from free or less expensive general-purpose AI meeting note tools like Zoom and Fathom that could hinder its ability to fully dominate the category)
Archive Intel, an AI-focused communications archiving and monitoring provider, has announced a $1.5 million funding round, highlighting the increasing need for solutions that can archive a wider range of client communications, including not just email and social media but also "off-channel" communications like SMS text and messaging apps like WhatsApp – raising the question of how many firms will be open to archiving those channels with access to a platform that can do so, rather than simply banning employees from using them altogether?

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

Datalign Advisory, a data-driven advisor lead generation platform, has raised $5 million, with the announcement underscoring the reality that despite the many complaints from advisors about the cost and quality of paid lead generation services, the demand for those services is still such that they can raise capital and increase their prices (as long as they can generate a reliable stream of prospective clients for the advisor to meet with)
Estate planning and document preparation platforms Wealth.com and Vanilla each announced the launch of new capabilities for automatically summarizing and visualizing estate planning documents like wills and trusts, with the aim of streamlining the process of reviewing and updating documents – which, while addressing a common pain point for advisors in reading and summarizing estate planning documents, raises the question of how much advisors will trust AI tools to correctly interpret all but the simplest estate planning documents (which take the least amount of time for an advisor to do themselves, meaning the actual time savings of an automated tool might not really be all that great?)

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!

*And for #AdvisorTech companies who want to submit their tech announcements for consideration in future issues, please submit to [email protected]!

Weekend Reading For Financial Planners (March 1–2)

February 28, 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 CFP Board this week released a checklist of ethics guidelines for the use of generative Artificial Intelligence (AI) tools. The guide notes the promise of AI-powered tools for a variety of functions, including generating meeting summaries and ideas for public-facing content, but warns against reliance on these tools for work that requires a reasonable understanding of assumptions and outcomes (e.g., developing recommendations for clients) given the chance of mistakes or 'hallucinations' by AI tools, suggesting that advisors who take a systematic approach towards the use of generative AI (e.g., by establishing firm-wide policies for its use) could benefit from the efficiencies and creative power that can come from these tools while ensuring the accuracy and security of client data!

Also in industry news this week:

The Department of Labor's (DoL) Retirement Security Rule remains in limbo as the Trump administration has been granted time by a court to decide on its approach to the Biden-era rule
The Corporate Transparency Act (CTA) is back in effect (at least for now), with a deadline of March 21 for affected businesses (including some RIAs) to file the required Beneficial Ownership Information (BOI) report

From there, we have several articles on retirement planning:

How advisors can help hesitant retired clients spend more by transforming portfolio assets into regular income streams
How stress testing retirement plans (and leveraging flexible income strategies) can help build client confidence to spend more in retirement
While sequence of return is often a focus of advisors and clients alike, a positive sequence of returns can allow clients to increase their retirement income over time

We also have a number of articles on client conversations:

Why a combination of open- and closed-ended questions can help advisors explore clients' goals and pain points as well as focus them on potential planning solutions
How advisors can reframe client questions to unearth hidden assumptions and expand the range of planning possibilities available to them
A scorecard that can be used to assess an advisor's ability to make clients feel understood during planning conversations

We wrap up with three final articles, all about interpersonal communication:

Why asking for "advice" rather than "feedback" can provide more actionable information for those looking to improve their performance
Six (and a half) components that make up a good apology, from taking accountability head-on to identifying ways to ensure the subject of the apology doesn't occur again
How honesty, credibility, and sincerity are at the heart of the best compliments, which can boost workplace productivity and relationship quality

Enjoy the 'light' reading!

What To Do When Gifts To Minors No Longer Fit: Adjusting UTMAs, 529 Plans, And Trusts When Family Goals Don’t Align

February 26, 2025 07:02 am 0 Comments CATEGORY: Estate Planning

Parents often want to ensure their children have the resources to pursue their potential and lead fulfilling lives. To achieve this, financial support may start at a very young age, allowing for a longer growth horizon and, in many cases, serving tax and estate planning purposes. However, once a child reaches the age of majority, they may not always be in a position to manage assets responsibly. In these cases, parents may wish to adjust how gifted assets are structured to better align with their family's long-term goals.

While a minor's ownership of property is limited until they reach the age of majority in their state (typically 18), several mechanisms exist to transfer assets while ensuring proper management. Uniform Transfers to Minors Act (UTMA) accounts allow assets – whether obtained through a gift, personal injury award, or earned income – to be overseen by a custodian until the UTMA termination age (often 21), at which point control shifts fully to the child. 529 plans offer greater flexibility in ownership but restrict how funds can be used, particularly for educational expenses. Perhaps the most protective option – though also the most complex and costly – is a trust, as grantors have almost complete flexibility to craft the trust's language to align with the contributor's intentions regarding the control and ultimate distribution of the funds.

In cases where an original gift to a minor no longer aligns with the family's goals, parents may consider restructuring or redirecting the assets. One option is to spend down UTMA assets on non-essential expenses for the child, such as summer camps or a car, while avoiding expenses like food and housing that fall under the parents' legal support obligation. Parents could also transfer UTMA assets into a UTMA 529 plan, which limits the child's ability to use funds for non-educational purposes. In some cases, converting UTMA assets into a 2503(c) trust may provide additional safeguards by granting the beneficiary a brief window (usually 30 to 60 days) to withdraw funds upon reaching age 21. If the beneficiary does not exercise this right, then the assets can remain in trust for continued protection and oversight. For parents who have already made a gift through an irrevocable trust, including a power of appointment provision may offer added flexibility, permitting distributions to be redirected to another individual or adjusted based on changing circumstances.

Ultimately, the key point is that gifting assets to a child can be a powerful way to provide for their future, but flexibility is crucial. Parents often reconsider their approach as their child approaches adulthood, and advisors can play a key role in helping them anticipate potential risks. By choosing flexible savings options from the outset or, when necessary, adjusting previously funded UTMAs or trusts, advisors can help ensure that gifted assets serve their intended purpose: supporting the child's future in a way that aligns with the family's long-term financial and estate planning goals!

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

February 25, 2025 07:02 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 426th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Jennifer des Groseilliers. 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.

What's unique about Jennifer, though, is how her firm has rolled out an equity compensation plan, built around providing grants based on performance and meeting goals (rather than requiring a buy-in), that’s designed to align the entire team towards the firm’s client service and profitable growth goals in the coming years… with 85% of the firm’s team members participating in the equity program.

In this episode, we talk in-depth about why Jennifer’s firm has taken an approach to grant equity rather than require buy-ins (and intends for every employee to either have equity, or at least a path to equity if they’re still new), how Jennifer’s firm sets individual performance targets for its client-facing wealth advisors to earn equity based on annual client retention (seeking to hit a target of 98%) and revenue managed (with a target of $1.75 million per lead advisor) to encourage very high levels of client service and advisor productivity, and how Jennifer’s firm ties the vesting of these equity awards to a future liquidity event for the firm as a whole (with could include a sale to an external party or the firm being rolled into one of its private equity owner’s subsequent funds) to ensure team members have aligned incentives to increase the firm’s enterprise value (which then feeds into the value of their individual equity stakes).

We also talk about how Jennifer identified the need to put systems in place (from performance management and individual team member goal setting to business planning and leadership development) to allow The Mather Group to operate more efficiently and effectively (despite it already having become a multi-billion-AUM firm before she joined), why Jennifer is an advocate of using the SMART goals system (which stands for Specific, Measurable, Achievable, Realistic, and Timebound) for both employee and firm goal setting to promote real accountability for achieving goal targets, and how Jennifer’s firm uses the HiBob HR management system to record and track the goals for the firm’s 180 employees in an organized manner.

And be certain to listen to the end, where Jennifer shares how her firm has achieved strong organic growth in part by separating the roles of inside sales associates (who reach out to external companies to identify potential prospects [with the firm’s target client being an executive at a large company who is one to three years from retirement]), business development advisors (who are responsible for convincing prospects to become clients), and then the wealth advisors themselves (who provide ongoing planning services for clients), how Jennifer leverages an internal advisory council made up of approximately 25 firm leaders to give key stakeholders a voice and influence over the firm and where it’s going, and why Jennifer thinks that developing high levels of emotional intelligence and self-awareness… often gleaned from setbacks when an management situation with a team member doesn’t go well… are ultimately the crucial steps on the path to becoming an effective leader.

So, whether you’re interested in learning about offering equity to a broad base of employees, putting systems in place to help a firm run more efficiently, or establishing separate roles for business development and ongoing client service, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Jennifer des Groseilliers.

« Previous
1
2
3
4
5
…
322
Next »

#FASuccess Ep 428: Leveraging (Salesforce) CRM To Really Systematize A Mid-Sized Advisory Firm, With Lorie Jones

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

Weekend Reading For Financial Planners (March 8-9)

Kitces & Carl Ep 159: When You Promised Early Clients Special Fees Or Minimums You Can No Longer Honor

Want CE Credit for reading articles like this?

Estate Planning In The Digital Age: Why Digital Assets Are A Critical Part And How To Help Clients Address Them

#FASuccess Ep 427: Finding The Director Of Operations That Can Rebuild Your Team To Get To The Next Level, With Sten Morgan

Morningstar Office To Shut Down And Push Advisors To Black Diamond (And More Of The Latest In Financial #AdvisorTech – March 2025)

Weekend Reading For Financial Planners (March 1–2)

Want CE Credit for reading articles like this?

What To Do When Gifts To Minors No Longer Fit: Adjusting UTMAs, 529 Plans, And Trusts When Family Goals Don’t Align

#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 Praise

Nerd’s Eye View Praise

Showcase YOUR Expertise

Stay In Touch

Questions?

Please contact your Firm's Group Admin

Want CE Credit for reading articles like this?

Want CE Credit for reading articles like this?

Nerd’s Eye View Praise

Showcase YOUR Expertise

Stay In Touch

Questions?