Shows
Kitces and Carl - Real Talk for Real Financial AdvisorsFinancial Planners As The Guide To Help Clients Navigating Potentially Changing TerrainIn our 166th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to help clients unlearn unhelpful lessons and shift from relying on luck-based decisions to making strategic, informed choices. For full show notes, see kitces.com and thesocietyofadvice.com.2025-06-1235 minKitces and Carl - Real Talk for Real Financial AdvisorsFinding Repeatable Conversations To Explain Complex Concepts More Understandably To ClientsIn our 165th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards explore strategies for breaking down complex ideas into clear, simple explanations that clients can easily grasp. For full show notes, see kitces.com and thesocietyofadvice.com.2025-05-2935 minKitces and Carl - Real Talk for Real Financial AdvisorsIs Complexity In Financial Planning Necessary To Prove (Young) Advisor Credibility? Kitces & Carl Ep 164In our 164th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to strike the right balance between technical accuracy and clear, client-friendly communication. For full show notes, see kitces.com and thesocietyofadvice.com.2025-05-1530 minKitces and Carl - Real Talk for Real Financial AdvisorsOvercoming Objections When Clients Reject The Recommendation By Asking What You MissedIn our 163rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to handle when clients not only ignore advice but actively push back against it. For full show notes, see kitces.com and thesocietyofadvice.com.2025-05-0132 minKitces and Carl - Real Talk for Real Financial AdvisorsAvoiding Staff Management Duties You Don't Want By Paying A Virtual Assistant For Only What You NeedIn our 162nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how a virtual assistant can support management responsibilities—and how to identify what tasks are worth delegating in the first place. For full show notes, see kitces.com and thesocietyofadvice.com.2025-04-1733 minKitces and Carl - Real Talk for Real Financial AdvisorsHow Valuable Is Getting Feedback About Your Original Business Ideas (That Others May Not Get Anyway)?In our 161st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how they navigate others' opinions on their projects—and the strategies they use to invite feedback in the first place. For full show notes, see kitces.com and thesocietyofadvice.com.2025-04-0339 minKitces and Carl - Real Talk for Real Financial AdvisorsCalming Clients With Anxiety About Trump Tariffs And Trade WarsIn our 160th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what advisors can do to keep clients from panicking—and making poor financial decisions—during market volatility. For full show notes, see kitces.com and thesocietyofadvice.com.2025-03-2044 minKitces and Carl - Real Talk for Real Financial AdvisorsWhen You Promised Early Clients Special Fees Or Minimums You Can No Longer HonorIn our 159th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what to do when your original fees no longer make financial sense—but you promised to honor them for some clients. For full show notes, see kitces.com and thesocietyofadvice.com.2025-03-0630 minKitces and Carl - Real Talk for Real Financial AdvisorsShould Prospects Be Allowed To Move Forward If They Don't Want To Think It Over First?In our 158th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the reasoning behind not allowing clients—even excited ones—to sign up the day of their first meeting. For full show notes, see kitces.com and thesocietyofadvice.com.2025-02-2034 minKitces and Carl - Real Talk for Real Financial AdvisorsReducing The Fears Of Prospective Clients By Communicating Clear Expectations Before The First MeetingIn our 157th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss tactics for reducing the worry that can arise for people when meeting with a financial advisor for the first time. For full show notes, see kitces.com and thesocietyofadvice.com.2025-02-0631 minKitces and Carl - Real Talk for Real Financial AdvisorsHow Are You Getting Value Out Of ChatGPT As A Financial Advisor?In our 156th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how they're using ChatGPT in their own work and share their thoughts on the future of AI in financial advising. For full show notes, see kitces.com and thesocietyofadvice.com.2025-01-2330 minKitces and Carl - Real Talk for Real Financial AdvisorsHow Do You Know When You Are Adding Value Versus Just Trying To Justify Your Fees?In our 155th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss a common pitfall among advisors, and what you should consider to make sure you're actually adding value—not just wasting time. For full show notes, see kitces.com and thesocietyofadvice.com.2025-01-0937 minKitces and Carl - Real Talk for Real Financial AdvisorsThe Limits Where Technology Can't Scale Financial Planning AdviceIn our 154th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss technology and AI's role in the future of financial advice. For full show notes, see kitces.com and thesocietyofadvice.com.2024-12-2632 minKitces and Carl - Real Talk for Real Financial AdvisorsEvaluating The Tradeoffs That Come With Retaining 'Legacy' ClientsIn our 153rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what to do when legacy clients start to hurt profitability down the line. For full show notes, see kitces.com and thesocietyofadvice.com.2024-12-1236 minKitces and Carl - Real Talk for Real Financial AdvisorsAdvisory Fee Confidence And Building The Happy-Client Stoke FileIn our 152nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss surprising data from recent research on the different ways advisors charge fees. For full show notes, see kitces.com and thesocietyofadvice.com.2024-11-2830 minKitces and Carl - Real Talk for Real Financial AdvisorsWhat's Holding You Back From Delegating What You Need To Let Go Of?In our 151st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what often stands in the way of delegating tasks—and what you can do to avoid common sticking points. For full show notes, see kitces.com and thesocietyofadvice.com.2024-11-1435 minKitces and Carl - Real Talk for Real Financial AdvisorsWhen The Early Years’ Scarcity As A Financial Advisor Prevents You From Growing To The Next LevelIn our 150th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how the scarcity mentality many new advisors experience when just starting out can negatively affect their career down the road—and how to avoid this common trap. For full show notes, see kitces.com and thesocietyofadvice.com.2024-10-3128 minKitces and Carl - Real Talk for Real Financial AdvisorsDo You Really Need A Business Partner… Or A Study Group?In our 149th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss why having friends in the trenches with you as you launch your own firm might be more valuable than having a business partner. For full show notes, see kitces.com and thesocietyofadvice.com.2024-10-1731 min
Financial Advisor SuccessExiting To A Perpetual Purpose Trust To Facilitate Internal Leadership Succession Without Indebting G2 Advisors with Michael KramerMichael Kramer is the Manager of Natural Investments, an RIA based out of San Francisco that has offices across the country and oversees $1.9 billion in assets under management for 1,300 households. Michael's firm uniquely employed a perpetual purpose trust structure for its internal succession plan, which allowed the founding partners to monetize their ownership without burdening new advisors with debt. This approach also fostered a more equitable leadership structure, not solely based on share ownership. Listen in as Michael talks about the firm's governance by "trust stewards" and the unique role of a "trust enforcer" to ensure accountability...2024-10-081h 30Kitces and Carl - Real Talk for Real Financial AdvisorsMaking It Easier To Get Started By NOT Building In Public And Focusing On Version 0 InsteadIn our 148th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the mindset shift that can help when you're scared to take the next step toward your goals. For full show notes, see kitces.com and thesocietyofadvice.com.2024-10-0334 minKitces and Carl - Real Talk for Real Financial AdvisorsPreparing An Advisory Firm For The Risk Of A Market (And Revenue) DeclineIn our 147th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what advisors can do to prepare for the next market downturn. For full show notes, see kitces.com and thesocietyofadvice.com.2024-09-1933 minKitces and Carl - Real Talk for Real Financial AdvisorsRe-Educating Clients (Scalably) After They ‘Read Something On The Internet’In our 146th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to handle when clients try to educate themselves about finance online—but come away with misinformation. For full show notes, see kitces.com and thesocietyofadvice.com.2024-09-0529 minKitces and Carl - Real Talk for Real Financial AdvisorsExplaining The Full Value Of (Life) Planning By Unlocking The Emotional Job To Be DoneIn our 145th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how advisors can communicate their planning style in their marketing before investing time in client meetings that may or may not lead to long-term engagement. For full show notes, see kitces.com and thesocietyofadvice.com.2024-08-2232 minKitces and Carl - Real Talk for Real Financial AdvisorsThe Success Trap Of Boutique Practices And Building With IntentionalityIn our 144th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how fast growth can get in the way of working "lifestyle" hours—and what to do about it. For full show notes, see kitces.com and thesocietyofadvice.com.2024-08-0828 minKitces and Carl - Real Talk for Real Financial AdvisorsTaking Over Clients From An Advisor With A Different Personality And Communication Style: Kitces & Carl Ep 143In our 143rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards explore how next-gen advisors can navigate transitioning clients accustomed to a quantitative approach to financial planning. For full show notes, see kitces.com and thesocietyofadvice.com.2024-07-2536 minKitces and Carl - Real Talk for Real Financial AdvisorsCarl's 13 Magical Questions Of Conversational Goodness With (New) ClientsIn our 142nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss impactful questions to ask clients in order to create deeper conversations and deeper connections. For full show notes, see kitces.com and thesocietyofadvice.com.2024-07-1145 minKitces and Carl - Real Talk for Real Financial AdvisorsCreating The Space To Have More Meaningful Money Conversations With ClientsIn our 141st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the powerful questions to ask clients in order to create impactful conversations about money. For full show notes, see kitces.com and thesocietyofadvice.com.2024-06-2738 minKitces and Carl - Real Talk for Real Financial AdvisorsAre You Worrying About Scale Before You Even Have A Scale Problem?In our 140th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what's likely behind the common problem of advisors prematurely worrying about scale. For full show notes, see kitces.com and thesocietyofadvice.com.2024-06-1328 minKitces and Carl - Real Talk for Real Financial AdvisorsWhen Have You Done 'Enough' For Clients (And How Do You Know)?In our 139th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to know when you offer "enough" value to clients that it's no longer necessary to keep doing and learning more. For full show notes, see kitces.com and thesocietyofadvice.com.2024-05-3030 minKitces and Carl - Real Talk for Real Financial AdvisorsCrafting Your Own Stop-Doing List To Create Capacity For What Really MattersIn our 138th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to optimize your time by identifying what you consistently do—and would love to stop doing. For full show notes, see kitces.com and thesocietyofadvice.com.2024-05-1638 minKitces and Carl - Real Talk for Real Financial AdvisorsWhen Does Your Career Transition From Saying Yes To Opportunities & Focusing More On No?In our 137th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to know when it's time to start saying no. For full show notes, see kitces.com and thesocietyofadvice.com.2024-05-0238 minKitces and Carl - Real Talk for Real Financial AdvisorsShould Internal Succession Plans Provide A G2 Discount For Lack Of Affordability?In our 136th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what to consider for succession plans as more advisors approach the age of retirement. For full show notes, see kitces.com and thesocietyofadvice.com.2024-04-1835 minKitces and Carl - Real Talk for Real Financial AdvisorsDo Experienced Financial Planners Have a Professional Obligation To Create Job Opportunities For The Next Generation?In our 135th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether or not professional advisors should be expected to create career opportunities for up-and-coming advisors. For full show notes, see kitces.com and thesocietyofadvice.com.2024-04-0430 min
Financial Advisor SuccessEp 378: Scaling Growth At 1/4th The Cost Of M&A By Wading Through The "No's" Of SmartAsset Leads with Michael CollinsMichael Collins is the CEO and Founder of WinCap Financial, an RIA based out of Boston that oversees $80 million in assets under management for 70 client households. Since 2021, Michael has distinguished himself by growing his firm by over $10 million in assets under management annually, utilizing leads purchased through SmartAsset and investing $5,000 per month, which has allowed him to achieve a return of $10,000 in recurring revenue within less than 100 days. Listen in as Michael shares insights into his marketing and content creation strategies, including maintaining a $5,000 per month marketing budget with a 95% failure rate by focusing on the financial...2024-03-261h 31Kitces and Carl - Real Talk for Real Financial AdvisorsHelping Clients Who Can't Ever Get To EnoughIn our 134th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what to do once a client achieves their financial goals—and doesn't seem to realize it. For full show notes, see kitces.com and thesocietyofadvice.com.2024-03-2126 minKitces and Carl - Real Talk for Real Financial AdvisorsLife-Changing Self Actualization—But How Do We Market It?In our 133rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss money, meaning, and what it's all for. For full show notes, see kitces.com and thesocietyofadvice.com.2024-03-0833 minKitces and Carl - Real Talk for Real Financial AdvisorsWhat Drives Real Advisor Marketing Success? Vanity Metrics Vs Engaged ProspectsIn our 132nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the best way for advisors to get the word out about their services. For full show notes, see kitces.com and thesocietyofadvice.com.2024-02-2228 minKitces and Carl - Real Talk for Real Financial AdvisorsWhat's The Real Purpose Of (New Year's) Goals And Finding The Next Best Action To Move Forward?In our 131st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss setting goals—and the "why" behind doing so. For full show notes, see kitces.com and thesocietyofadvice.com.2024-02-0837 minKitces and Carl - Real Talk for Real Financial AdvisorsHelping Everyone You Can Vs Getting Paid What You're Really WorthIn our 130th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the advisor mindset that leads to more happiness. For full show notes, see kitces.com and thesocietyofadvice.com.2024-01-2531 minKitces and Carl - Real Talk for Real Financial AdvisorsHow Autonomy, Experience, and Team Drive Advisor WellbeingIn our 129th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the results of their recent study on advisor well-being. For full show notes, see kitces.com and thesocietyofadvice.com.2024-01-1133 minKitces and Carl - Real Talk for Real Financial AdvisorsNoticing What You Spend Money On That's Actually An InvestmentIn our 128th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss a key difference in perspective when it comes to spending money. For full show notes, see kitces.com and thesocietyofadvice.com.2023-12-2833 minKitces and Carl - Real Talk for Real Financial AdvisorsCreating Value Through Presence And The 50 Fires PodcastIn our 127th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss Carl's exciting new project. For full show notes, see kitces.com and thesocietyofadvice.com.2023-12-1434 minKitces and Carl - Real Talk for Real Financial AdvisorsBest Ways To Boost Advisor Productivity: New Tech Efficiencies Vs Old Fee IncreasesIn our 126th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether it makes more sense to focus on increasing productivity or to simply increase your fees. For full show notes, see kitces.com and thesocietyofadvice.com.2023-11-3033 minKitces and Carl - Real Talk for Real Financial AdvisorsScale Your Business, Leverage Yourself, Or Just Grow?In our 125th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what it really means to scale. For full show notes, see kitces.com and thesocietyofadvice.com.2023-11-1636 minKitces and Carl - Real Talk for Real Financial AdvisorsWhen Clients Evolve Out Of Your Niche Specialization Should You Stay Or Go (Or Not)?In our 124th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to handle when clients no longer fit your specialization. For full show notes, see kitces.com and thesocietyofadvice.com.2023-11-0232 minKitces and Carl - Real Talk for Real Financial AdvisorsDoes Every Prospective Client Fit A Niche Or Do Advisor Specializations Leave More Underserved?In our 123rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether all advisors choosing a niche results in some potential clients being left out of receiving financial advice. For full show notes, see kitces.com and thesocietyofadvice.com.2023-10-1926 minKitces and Carl - Real Talk for Real Financial AdvisorsHelping Clients Make Decisions That DON'T Make (Financial) SenseIn our 122nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to guide client decisions that aren't about wealth maximization. For full show notes, see kitces.com and thesocietyofadvice.com.2023-10-0533 minKitces and Carl - Real Talk for Real Financial AdvisorsCan You Just Do Good Work And Get Noticed As An Advisor Or Do You Have To Self-Promote?In our 121st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether self-promotion is essential for advisors. For full show notes, see kitces.com and thesocietyofadvice.com.2023-09-2140 minKitces and Carl - Real Talk for Real Financial AdvisorsIs It Really Harder To Scale A Small RIA Today, Or Are Firms Just Navigating The Growth Treadmill?In our 120th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the recurring myth that small RIAs are doomed due to scaling challenges. For full show notes, see kitces.com and thesocietyofadvice.com.2023-09-0727 minKitces and Carl - Real Talk for Real Financial AdvisorsNavigating Succession Plans When Founders Are Having Second-Thoughts On Retirement: Kitces & Carl Ep 119In our 119th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to get an older advisor (who isn't as engaged in growing the business anymore) to let go and retire. For full show notes, see kitces.com and thesocietyofadvice.com.2023-08-2430 minKitces and Carl - Real Talk for Real Financial Advisors(Re-)Building Your Financial Advisor Identity When You Dial Back Working With ClientsIn our 118th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss whether you hang onto being a financial advisor even when you're no longer taking clients. For full show notes, see kitces.com and thesocietyofadvice.com.2023-08-1027 minKitces and Carl - Real Talk for Real Financial AdvisorsSustaining A Profitable Advisory Business That Allows You To Explore New EndeavorsIn our 117th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what it looks like when you're done growing the business. For full show notes, see kitces.com and thesocietyofadvice.com.2023-07-2732 minKitces and Carl - Real Talk for Real Financial AdvisorsGetting Training As (Or For) An Associate Advisor To Talk More In Client MeetingsIn our 116th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to feel (or help other advisors feel) more confident talking to clients. For full show notes, see kitces.com and thesocietyofadvice.com.2023-07-1333 minKitces and Carl - Real Talk for Real Financial AdvisorsSetting The Right Minimum Fee Per Client And The Revenue Model GeneratorIn our 115th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to set pricing in order to run a viable practice. For full show notes, see kitces.com and thesocietyofadvice.com.2023-06-2931 minKitces and Carl - Real Talk for Real Financial AdvisorsWhen Clients Are Tempted By The Siren-Song Of (A Competitor's) Investment Results: Kitces & Carl Ep 114For many financial advisors, keeping an open line of communication with clients is a key component of building trust, understanding the client’s values, and developing a meaningful plan to help them reach their financial goals. In our 114th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss ways for financial advisors to talk to clients tempted by promises of higher returns from other financial professionals, how they can ensure that all clients stay focused on the goals their financial plans were created to help them achieve, and why it’s so important to r...2023-06-1536 minKitces and Carl - Real Talk for Real Financial AdvisorsWhat Does It Really Mean To Be A Lead Advisor?While advancing a career in any industry can be challenging, the lack of formal career development programs offered in the workplace for associate advisors can make it particularly difficult for them to gain the experience they need to become lead financial advisors. In our 113th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss what it means to be a lead advisor, the paths associate advisors can take to advance into a lead advisor role, and how to communicate career growth goals with senior advisors. For full show notes, see kitces.co...2023-06-0132 minKitces and Carl - Real Talk for Real Financial AdvisorsWhen You No Longer Want To Be A Manager And Have To Let An Associate Advisor GoIn our 112th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards talk about what it looks like when you have to let go of an employee. For full show notes, see kitces.com and thesocietyofadvice.com.2023-05-1823 minKitces and Carl - Real Talk for Real Financial AdvisorsWho To Hire First As Your Advisory Firm Grows (And Why Do You Even Want To?)In our 111th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards talk about when to hire—and why. For full show notes, see kitces.com and thesocietyofadvice.com.2023-05-0431 minKitces and Carl - Real Talk for Real Financial AdvisorsDressing Up For Clients (Do Advisors Really Need To Dress For Success?)In our 110th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards talk about the idea that advisors should dress a certain way for credibility. For full show notes, see kitces.com and thesocietyofadvice.com.2023-04-2032 minKitces and Carl - Real Talk for Real Financial AdvisorsAttracting Clients - An Advisor For Their Goals Or A Role Model Of What They Can Achieve?In our 109th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards talk about how advisors live their lives—and what clients think about it. For full show notes, see kitces.com and thesocietyofadvice.com.2023-04-0631 minKitces and Carl - Real Talk for Real Financial AdvisorsCrafting A (Marketing) Manifesto To Show What You Really Stand ForIn our 108th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards talk about marketing yourself by letting people know what you stand for. For full show notes, see kitces.com and thesocietyofadvice.com.2023-03-2334 min
Kitces and Carl - Real Talk for Real Financial AdvisorsThe Strategic Planning Process And Coming Up With (New) Ideas To Try: Kitces & Carl Ep 107In our 107th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss ways for advisors to find new ideas, the process of narrowing down their options and choosing the best ones, and how advisors can vet and test the viability of their ideas before implementing them on a larger scale. For full show notes, see kitces.com and thesocietyofadvice.com.2023-03-0939 min
Financial Advisor SuccessEp 275: Growing Organically Past $4B Of AUM With A Shared Ownership Mentality with Michael ChasnoffMichael Chasnoff is the founder and CEO of Truepoint Wealth Counsel, an independent fee-only RIA based out of Cincinnati that oversees $4.5 billion in assets under management for 750 households. Michael has grown his firm completely organically by focusing on working with business owners and executives—and scaling his team by offering a distributed ownership structure with a broad equity participation plan. Listen in as we explore the unique structure that he has built his firm around, becoming a one-stop shop for clients offering both financial planning and in-house tax and estate planning advice. You'll learn how he sells of...2022-04-051h 17
Financial Advisor SuccessEp 269: Accelerating The Fee-Only Transition By Acquiring A Commission-Based Book Of Business with Michael HartmanMichael Hartman is the founder of Hyperion Financial, an independent RIA based out of Pennsylvania that oversees nearly $60 million in assets under management for 75 households. What's unique about Michael is the way he fast-tracked his fee-only RIA through the acquisition of a commission-based book of clients that he then converted to fee-only. Listen in as he shares how he got started in the financial planning industry after being in the insurance world, as well as the realization he had that led him to become an independent firm owner to serve clients the way he wanted to and...2022-02-221h 29
Financial Advisor SuccessEp 231: From CPA Lifestyle Practice To Billion Dollar Multi-Generational RIA Enterprise with Michael GoodmanMichael Goodman is the Founder and President of Wealthstream Advisors, a family RIA based out of Manhattan that manages over $1-billion in assets for 350 client families. Michael first started his career as a CPA before transitioning to financial planning and building a firm that will outlast his retirement. Listen in as Michael shares his unique journey from CPA to financial planner, eventually building his own firm that allows him to do what he loves best: serving clients. We also discuss how his personality and optimism were instrumental in helping him stay the course during the hard times...2021-06-011h 29
Financial Advisor SuccessEp 200: Scaling A Successful Business Beyond Yourself By Constantly Reinventing Your Role with Michael KitcesThis is a milestone 200th episode, and we’re doing things a little differently today! We put out a survey to the listenership asking who we should invite as our guest today, and overwhelmingly, you told us that you want to hear more of my own story on this journey of navigating the challenges of building a successful advisory business. So, you’ve got your wish! In this episode, Alan Moore joins me to talk about my career journey from college to financial services, why I split my time in the advisory firm between writing and speaking, and...2020-10-271h 42
Kitces and Carl - Real Talk for Real Financial AdvisorsOvercoming Objections By Asking More Questions To Determine Fit: Kitces & Carl Ep 422020-09-1028 min
Kitces and Carl - Real Talk for Real Financial AdvisorsHelping Older Clients Stuck In Cash On The Sidelines: Kitces & Carl Ep 412020-08-2734 min
Kitces and Carl - Real Talk for Real Financial AdvisorsHow To Turn Your Advisor Marketing Content Into A(n Entire) Book: Kitces & Carl Ep 402020-08-1332 min
Kitces and Carl - Real Talk for Real Financial AdvisorsAvoid Writer's Block With Your Marketing By (Literally) Talking It Through: Kitces & Carl Ep 392020-07-3029 min
Kitces and Carl - Real Talk for Real Financial AdvisorsHow Do You Figure Out What You're Going To Create Content About?: Kitces & Carl Ep 382020-07-1633 min
Kitces and Carl - Real Talk for Real Financial AdvisorsFinding Your Focus Amidst The Draw To Do More 'Public Work' In A Mid-Career Crisis: Kitces & Carl Ep 372020-07-0227 min
Kitces and Carl - Real Talk for Real Financial AdvisorsHow Do You Protect Your Own Confidence As A Financial Advisor?: Kitces & Carl Ep 362020-06-1834 min
Kitces and Carl - Real Talk for Real Financial AdvisorsFavorite Questions To Ask A Prospective Client To Build Trust In The First Meeting: Kitces & Carl Ep 352020-06-0426 min
Kitces and Carl - Real Talk for Real Financial AdvisorsAre We Making Financial Advice & Portfolios More Complex Than They Need To Be?: Kitces & Carl Ep 342020-05-2137 min
Financial Advisor SuccessEp 163: Building A Fast-Growth Practice Without Prospecting By Working Under A Credit Union with Michael GennaweyMichael Gennaway is a financial advisor and program manager for SoCal Wealth Management, a hybrid advisory firm that oversees $260 million of assets under management for over 1,800 clients. Today Michael joins the show to discuss how he has built SoCal under the Credit Union of Southern California, getting constant new clients from them with the caveat that SoCal must take every new client referral. Listen in as we talk about the unique ways that the credit union is complementary to SoCal Wealth Management, as well as how they are managing to acquire three new clients every week. You’ll...2020-02-111h 40
Kitces and Carl - Real Talk for Real Financial AdvisorsSimplifying Your Life By Building Habits And Kitces Travel Tips: Kitces & Carl Ep 222019-12-0521 min
Kitces and Carl - Real Talk for Real Financial AdvisorsIs A Fiduciary Requirement Necessary When Acting In Clients' Best Interests Is Good Business Anyway?: Kitces & Carl Ep 20In our 20th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards discuss why a fiduciary rule is necessary even though acting in your client’s best interests is already “good business” in the long run, how real financial advisors are at a competitive disadvantage against those who really are just out to make the next buck as quickly as possible, and how advisors have a duty to spread the word about what it means to be a fiduciary.2019-11-0723 min
Kitces and Carl - Real Talk for Real Financial AdvisorsIs Any Financial Advisor Business Model Truly Conflict Free?: Kitces & Carl Ep 19In our 19th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards talk about these conflicts of interest, and the dilemma that financial advisors face when determining where to draw the line between a ‘manageable’ conflict of interest and one that is ‘unmanageable.’2019-10-2439 min
Kitces and Carl - Real Talk for Real Financial AdvisorsTalking Clients Off The Ledge From 'Scary' Markets: Kitces & Carl Ep 18In our 18th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards extend their last podcast and look at communication strategies advisors can use to set the stage for helping clients actually make better decisions after ‘talking them off the ledge’, using a three-part pyramid framework: the Plan, at the foundation of the pyramid (representing the financial plan itself that was developed around the client’s personal values and goals); the Process, in the middle (i.e., the method whereby an advisor helps their client determine how those values and goals will become reality); and the Pr...2019-10-1035 min
Kitces and Carl - Real Talk for Real Financial AdvisorsResponding With Empathy When Clients Call About “Scary” Markets: Kitces & Carl Ep 17In our 17th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards talk about the importance (and challenges) of responding with empathy to clients who are upset or afraid. Because even though research in behavioral finance has helped us better understand the natural human proclivity to make irrational decisions, especially in times of stress and fear, the objectivity with which these paradigms have been created has perhaps unwittingly made it too easy for advisors to judge their clients for their impulsiveness, and subsequently become dismissive of what are normal and understandable reactions to stress. And...2019-09-2627 min
Kitces and Carl - Real Talk for Real Financial AdvisorsHelping Clients Understand What It Really Means To Retire: Kitces & Carl Ep 16In our sixteenth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards explore different ways advisors can frame their conversations with clients when helping them envision and plan for a retirement they can actually look forward to, how to integrate relevant “what if” scenarios for a client that can help them truly understand the range of options available that they may not have otherwise thought possible, and practical ways to ask questions in a way that probes what clients love to do, what excites them, and what brings them joy – which, in turn, can spark retirement...2019-09-1227 min
Kitces and Carl - Real Talk for Real Financial AdvisorsWhy Are We So Afraid To Just Listen: Kitces & Carl Ep 15In our 15th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss the value of really listening to clients, and how, by simply talking less and listening more in client meetings, an advisor can improve the chances that a client will stick to their plan.2019-08-2924 min
Kitces and Carl - Real Talk for Real Financial AdvisorsProjection-Free Financial Planning To Avoid A False Sense Of Precision: Kitces & Carl Ep 14In our 14th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards explore the various functions that a physical financial plan deliverable plays in the financial planning (and client relationship trust-building) process, share their viewpoints on how written financial plans can be used effectively to help clients, and discuss what ultimately matters most for clients, regardless of whether their financial plan is one page or requires a 2” binder and color-coded tabs.2019-08-1546 min
Kitces and Carl - Real Talk for Real Financial AdvisorsThe Better Way To Send Market (And Other) Commentary Emails To Clients: Kitces & Carl Ep 13So, in our (lucky) 13th episode, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss why it’s important to send regular commentary, provide a specific example of an easy and effective way to let clients know that you are thinking about them and their challenges, and why it matters so much that it ultimately comes from you (versus any number of white-labeled, off-the-shelf offerings).2019-08-0134 min
Kitces and Carl - Real Talk for Real Financial AdvisorsCommunicating With Clients To Bring Them Under The Cone Of Trust: Kitces & Carl Ep 12For our 12th episode of Kitces & Carl, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss if sending market commentary to clients actually helps solve any problems (or if it’s just a relic of a product-centric industry), what sorts of clients benefit the most from proactive communication (and why), and ultimately, why sending investment market commentary to clients may be a good thing to do… even if the majority of your clients never even read it!2019-07-1831 min
Kitces and Carl - Real Talk for Real Financial AdvisorsWhat Do You Call Yourself - Planner, Advisor, Industry, Profession: Kitces & Carl Ep 11In our eleventh episode of “Kitces & Carl”, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss the roots of various industry titles, why you might want to break the mold and call yourself something completely different (or not), and why the choice ultimately boils down to whether or not what you call yourself resonates with your target clientele.2019-07-0429 min
Kitces and Carl - Real Talk for Real Financial AdvisorsTransitioning Long-Standing Clients To Create Room To Grow: Kitces & Carl Ep 10In our tenth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication expert Carl Richards sit down to discuss some reasons you may need to start transitioning long-standing clients (some of whom may have given you a shot early on when no one else would, but consequently pay you far less than what it takes to service them) to make room so you can help others, some practical steps for communicating such a transition to those clients, and why arguably it’s your duty to do so… in order to ensure that all of your clients are getting the leve...2019-07-0336 minKitces and Carl - Real Talk for Real Financial AdvisorsHow Do You Optimize Your Practice To Maximize Your Happiness As A Financial Advisor?: Kitces & Carl Ep 09In our ninth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss why some advisors wind up being unhappy in an otherwise “successful” practice, how some advisors have maximized their happiness by being intentional about building their business the way they want - or even “right-sizing” the advisory practice if necessary – and a few actionable ideas for advisors to do the same.2019-07-0238 min
Kitces and Carl - Real Talk for Real Financial AdvisorsWhat Would You Do With Your Time If You COULD Be More Productive As A Financial Advisor?: Kitces & Carl Ep 08In our eighth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss how financial advisors are spending their time, strategies that can help advisors focus more on what they’re best at… and what might be accomplished by increasing your business (and personal) efficiency in the first place.2019-07-0134 min
Kitces and Carl - Real Talk for Real Financial AdvisorsAuthenticity Vs. Professional Credibility And Admitting Your Own Financial Sins: Kitces & Carl Ep 07In our seventh episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to debunk some long-standing myths around what it really means to be a “credible” financial advisor, why authentically owning up to your personal financial mistakes actually helps build trust and credibility (and might even end up helping you gain new clients), and why being relatable as a human being (who makes mistakes from time to time) may be one of the more important traits you can bring to the table as a financial advisor.2019-06-2828 min
Kitces and Carl - Real Talk for Real Financial AdvisorsBuilding Resiliency For The Stress Of Being A Financial Advisor: Kitces & Carl Ep 06In our sixth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss proactive steps advisors can take to prepare themselves to deal with and manage the stresses inherent in being a financial planning professional, some common but less-well-known sources of advisor stress, and how a subtle shift in mindset can help advisors make self-care a priority.2019-06-2726 min
Kitces and Carl - Real Talk for Real Financial AdvisorsDo Clients Really Value Getting Help Managing Their Behavior Gap?: Kitces & Carl Ep 05In our fifth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of whether advisors should even bother trying to communicate the value they provide when helping clients manage their “behavior gap”, why attempting to convince prospects that you can help them manage their behaviors is perhaps an uphill battle, and how maybe the best way to overcome the behavior gap (and the perceived value of getting help with the behavior gap) is by shifting a client’s perspective altogether.2019-06-2629 min
Kitces and Carl - Real Talk for Real Financial AdvisorsDoes Social Media Really Matter For Financial Advisors?: Kitces & Carl Ep 04In our fourth episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of the extent to which financial advisors should or “have to” participate in social media (or not), why it might be a worthwhile endeavor if done correctly, some ideas that advisors can use immediately to get more out of their social media efforts, and why, ultimately, using social media successfully is ultimately about a series of “micro interactions” to better connect with other individuals.2019-06-2531 min
Kitces and Carl - Real Talk for Real Financial AdvisorsThe Importance Of Likability As A Financial Advisor: Kitces & Carl Ep 03In our third episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of how important it is to be “likeable” as a financial advisor, why being your “authentic self” when it comes to communicating and interacting with clients might matter more, and why it’s important for newer advisors to avoid sending mixed signals to clients when trying to differentiate themselves.2019-06-2425 min
Kitces and Carl - Real Talk for Real Financial AdvisorsHow To Price Your Financial Planning Services: Kitces & Carl Ep 02In our second episode of “Kitces & Carl”, Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss the question of establishing a price for your financial planning services, why many advisors feel such anxiety over setting (and sticking to) their pricing model, the ways in which advisors can communicate their value to prospects and clients to justify their price, and why, many times, problems around pricing are really the result of our own inward confidence problems.2019-06-2427 min
Kitces and Carl - Real Talk for Real Financial AdvisorsThinking About The Value Of Financial Planning: Kitces & Carl Ep 01Michael Kitces and financial advisor communication guru Carl Richards sit down to discuss industry topics from their own unique perspectives. And in this inaugural episode, Michael and Carl talk about the Value of Financial Advice, efforts to quantify that value, and why we may need to move past the asset-based model in order to define and communicate the real value of financial planning to our clients and the public in general.2019-06-1933 min
Financial Advisor SuccessEp 102: Transitioning From Wirehouse To Independence with Michael Henley: Is The Grass Really Greener?There has been a lot of buzz over the past couple of years about the breakaway trend that has seen sizeable advisory firms moving away from wirehouses, and my guest today very recently went through that process himself. After spending the first decade of his career at Merrill Lynch, Michael Henley moved on to become co-founder and CEO of Brandywine Oak Private Wealth, an independent advisory firm that manages more than $500 million of client assets, at just thirty-four years old. In this episode, Michael shares what made him decide to go independent after he’d been so lo...2018-12-111h 51
Financial Advisor SuccessEp 028: Scaling Up A $6B Independent RIA Using A Full-Time CEO As Chief Inspiration Officer with Michael NathansonOur guest today is Michael Nathanson, chief executive officer of the Colony Group. Michael’s private wealth management firm has over $6 billion in assets under management and a 39% profit margin. Michael has driven this phenomenal growth through strategic acquisitions, high-level systems thinking, and targeted organic growth. Michael walks us through how he operates as an effective CEO to nurture his seven offices, recruit top-level talent, and delegate effectively. He gets into the details of compensation, leadership and buying other firms. He also shares the company’s trajectory and how it compares to other RIA practices out in the...2017-07-111h 39
Financial Advisor SuccessEp 020: Building A Successful Business By Giving Away 99% Of What You Do For Free with Michael KitcesI’ve received a lot of requests for me a to be a guest on my own show - so here you have it! In this interview, I talk with my XYPN co-founder Alan Moore about how I manage to keep up with the blog, five growing businesses, speaking gigs, and actual financial planning - on top of spending time with family. I retrace the steps I’ve taken to arrive at the varied career I have today, and share some of the formative experiences of that journey. Alan and I also talk about the time...2017-05-161h 57