Ep 135: Developing The Systematized Business Development And Financial Planning Playbooks To 10X Your Advisory Business with Kathryn Brown
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 30 July 2019
⏱️ 106 minutes
🧾️ Download transcript
Summary
Kathryn Brown is the co-founder of Morton Brown Family Wealth, a firm that oversees nearly $110 million of assets under management for 85 affluent households. With her firm now positioned for the potential of 10x growth in the upcoming years, Kathryn has overcome many challenges to get to where she is today.
In this episode, she opens up about her inspirational journey, including how she persevered despite learning she had breast cancer and undergoing surgeries while she was preparing to go independent. She also discusses the playbooks that she and her partner developed for Morton Brown, why her firm decided to bring on a data geek as one of their first hires, and so much more.
For show notes and more visit: https://www.kitces.com/135
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 |
| 0:12.4 | financial advisors navigated the inevitable challenges that arise on the path to success |
| 0:17.4 | 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 Kitsis. Welcome, everyone. |
| 0:29.2 | Welcome to the 135th episode of the Financial Advisor Success podcast. My guest today's podcast is |
| 0:35.9 | Catherine Brown. Catherine is the co-founder of Morton Brown |
| 0:39.1 | Family Wealth, an independent R.A. in Allentown, Pennsylvania, that oversees nearly 110 million |
| 0:44.5 | of assets under management for 85 affluent clouds. What's unique about Katie, though, is the way |
| 0:50.7 | they've positioned their firm for the potential for 10x growth in the coming years, |
| 0:55.1 | systematizing everything from their business development to their financial planning processes, |
| 0:59.0 | and even hiring a data geek chief of staff as just their third hire to ensure the firm |
| 1:05.2 | stays focused on the metrics that matter most. |
| 1:08.2 | In this episode, we talk in depth about the playbooks that Katie and her partner |
| 1:12.6 | have developed for the firm, from a business development playbook that articulates exactly what the |
| 1:17.3 | firm does to nurture a potential new client in each stage from being a source name to a lead, |
| 1:22.5 | to a prospect, and eventually onboarding as a client, to their client experience playbook that tracks a |
| 1:28.5 | financial planning heat map where clients are between the planning and process phase, implementation |
| 1:33.9 | phase, maintenance phase, update phase, and no plan phase. And the way the partners of the firm |
| 1:39.2 | have surrendered control of their own calendars to a team member whose job is to ensure that |
| 1:43.9 | they keep their own time focused on where they need to spend the time to positively impact the business the most, with each day of the week set with specific tasks of focus on that day. |
| 1:54.6 | We also talk about Katie's own path through the planning business, from starting out in an administrative role, straight out of school, |
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