Ep 108: How To Take A Sabbatical Even When Your Clients Depend Primarily On You with Lisa Kirchenbauer
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 22 January 2019
⏱️ 107 minutes
🧾️ Download transcript
Summary
My guest today is Lisa Kirchenbauer, founder and president of Omega Wealth Management. Lisa’s firm oversees more than $100 million of assets for nearly 100 affluent clients, with whom they’ve been able to form deep relationships by implementing George Kinder’s EVOKE life planning process. And yet, even with the close relationships Lisa has with her clients, she has achieved what most advisors consider impossible: taking two six-week sabbaticals in the past six years.
In this episode, Lisa shares how she works with her staff to prepare the firm, train the team, and transition tasks so that she can step away from the business completely. Listen in to learn the steps she took to train her clients to become less dependent on her and more comfortable working with the other members of her team, how she breaks the news to clients about her taking time off, and the lessons she's learned throughout the experience that will change how she does her next sabbatical.
For show notes and more visit: https://www.kitces.com/108
Transcript
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| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with |
| 0:07.1 | financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading |
| 0:12.5 | financial advisors navigated the inevitable challenges that arise on the path to success |
| 0:17.5 | and get insight from leading industry consultants about how to break through to the |
| 0:22.0 | next level in your advisory business. And now here's your host, Michael Kitsas. |
| 0:28.7 | Welcome, everyone. Welcome to the 108th episode of the Financial Advisor Success podcast. |
| 0:34.2 | My guest on today's podcast is Lisa Kirshenbauer. Lisa is the founder and president of |
| 0:38.4 | Omega Wealth Management, an independent RAA in the Washington, D.C. area that oversees more |
| 0:42.5 | than $100 million of assets for nearly 100 affluent clients. What's unique about Lisa, though, |
| 0:48.1 | is her targeted focus with two specializations, entrepreneurs and people in transition, to whom |
| 0:54.0 | she charges a financial |
| 0:55.1 | planning fee that starts at $7,500 a year, while forming deep client relationships by implementing |
| 1:00.6 | George Kinder's evoke life planning process, and has still managed to achieve what is completely |
| 1:06.0 | impossible for most advisors, take two six-week sabbatical vacations in the past six years. |
| 1:12.3 | In this episode, we talk in depth about Lisa's unique financial planning services for clients, |
| 1:16.8 | the way she truly differentiates her services from the very start in prospect meetings |
| 1:20.8 | by discussing everything from communication preferences to George Kinder's famous three life |
| 1:25.3 | planning questions. The additional assessment tools that |
| 1:28.4 | she uses from risk-alized to Colby to better understand and connect with her clients, the four-meeting |
| 1:34.3 | financial planning process she takes all clients through before she ever talks about signing an |
| 1:38.8 | investment management agreement. And the way she's further honed her services into two niches, |
| 1:43.2 | for entrepreneurs and people in transition, |
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