I started my career assuming
A comprehensive plan was everything
Because most advisors sold stuff
And no one gave advice
So I built the big, expensive holistic thing for everyone
HENRY’s and big AUM clients needed it
But the majority of my friends didn’t
Most people I knew didn’t need that thing
They just wanted a deeper conversation
The cost of delivering the “whole enchilada” pushed our RIA up-market
Most advisors I know say
“Hey Reese, we give advice to everyone!
Not just the wealthy.”
But I’m not persuaded
Most service models only function well with big AUM
Those folks, truly, would have been okay without you
It’s fine that you’re involved
It’s a beautiful way to make a living
And those wonderful clients are my friends, too
But, with few exceptions, they would have been fine without you
What if we innovated our business model
Instead of thinking about the big, comprehensive thing
What if money was just a deep, meaningful conversation
An inflection point, using tons of data
What if we did quick financial assessments
For lots of friends
They fill out a scorecard
And you give them your point of view
And what if we did that for free?
I think if we did that we would have more clients
And we would help more people
To feel better about their money
Know that they have a resource
And make better financial decisions, so they can live their present lives to the fullest.
Thanks for sharing this Reese!
It’s only been a week of offering these free assessments and I’ve already sent out 4 with pretty minimal promotion (plus I have several pieces of content to share over the coming weeks).
I’ve never been more excited about the future of my business and the industry than I am right now.