Michael Lecours, CFP® says that the origin story of fpPathfinder, a company he co-founded with Michael Kitces, is a bit humbling. He found that he was routinely forgetting to ask the right questions or giving slightly incorrect answers or missing timely opportunities for recommendations when meeting with his clients.
It wasn't that Michael was incompetent or lacking in financial planning skills... he is a Certified Financial Planner with over a decade of experience. It's just that there is so many things that a client might need to know about or do or not do at any given time. And the landscape is constantly changing.
So, Michael came up with a simple idea. He made a series of checklists and flowcharts that he would use during client meeting to ensure he "checked all the boxes" and kept things on track. Suddenly, he felt like he was delivering higher quality advice to his clients and he realized he was onto something that other advisors could use with their clients.
Resources Mentioned In This Episode:
Episode 27 - New Business Financing Options Available To Financial Advisors and RIAs
Episode 26 - Recruiting Financial Advisors is a Game of Motivational Awareness
Episode 25 - How to get clients as a financial advisor by looking beyond the 1%
Episode 24 - How Zero Dollar Trade Commissions Affect Financial Advisors
Episode 23 - How financial advisors can use their websites to convert prospects to clients
Episode 22 - What holds many advisors and agents back from growing their practice into a business?
Episode 21 - Make Your Wealth Management Business Easy to Work With and Work For
Episode 20 - How to Close Clients Faster with Technology
Episode 19 - How to Attract Millennial Advisors to Your Wealth Management Firm
Episode 18 - Why Details Matter for your Wealth Management or Insurance Business
Episode 17 - Valuation: Getting Beyond a Reasonable Doubt
Episode 16 - Considering the Strategic Value in a Wealth Management Business Acquisition
Episode 15 - Kirsten Petras on the acquisition activity increase in wealth management
Episode 14 - Kelli Cruz on the importance of talent wealth for successful business transitions
Episode 13 - Victor Gaxiola of Tech Girl Financial on using social media to increase your valuation
Episode 12 - Brian Margolis of Productivity Giant on Growing Your Business by Simplifying It
Episode 11 - Ivan Barretto of RIA Compliance Concepts on using compliance for a strategic edge
Episode 10 - Jamie Wise of Buzz Indexes on using sentiment analysis and AI to beat the S&P 500
Episode 9 Grant Hicks of Advisor Practice Management on Increasing Client Value
Episode 8 - Henry Yoshida of Rocket Dollar on the value of alternative investments in IRAs
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