Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with

financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading

financial advisors navigated the inevitable challenges that arise on the path to success

and get insight from leading industry consultants about how to break through to the next

level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone.

Welcome to the 170th episode of the Financial Advisor Success podcast. My guest on today's

podcast is Patrick Tucker. Patrick is the founder of True Measure Wealth Management,

an independent RIA based in Omaha, Nebraska that oversees nearly 150 million of assets

under management for 89 client families. What's unique about Patrick, though, is his background

in business operations and financial management from having started his career at UPS, and how he's

translated those business management skills

to run his own advisory firm, not necessarily to grow and scale the largest business he can,

but to very intentionally craft an advisory firm to achieve his own personal goals instead.

In this episode, we talk about how Patrick built his very intentionally designed advisory firm.

The two niches he formed with executives from transportation companies and with small local

business entrepreneurs like himself, how he splits his advisory fee structure between

AUM fees for clients with portfolios he can manage and three tiers of flat planning fees

from $8,000 to $16,000 a year for the clients in his niche who may have

significant wealth but not in a liquid form to manage. The key business metrics that Patrick

focuses on to ensure he's spending his time and the business resources properly, and the three

P's of personality, participation, and profitability that Patrick uses to evaluate each prospective client to

decide if he wants to work with them in the first place.

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