Ep 172: Finding The Intersection Of Fulfillment And Profitability With A Niche Of Special Needs Families with Minoti Rajput
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 14 April 2020
⏱️ 102 minutes
🧾️ Download transcript
Summary
Minoti Rajput is the founder and president of Secure Planning Strategies, a hybrid advisory firm that oversees nearly $300 million of AUM for 350 client households. Minoti has built her advisory firm by creating a specialization in working with families with special needs children, and she joins the show today to discuss her niche and how she gathered the expertise needed to support special needs families.
Listen in as we talk in depth about the unique marketing opportunity she has been able to create by working with school systems, where as many as 10% of students have some form of special needs. You will learn how she handles the compliance challenges that come with providing this kind of specialized advice, her unique fee structure, and what it’s like working in such a rewarding and fulfillng niche.
For show notes and more visit: https://www.kitces.com/172
Transcript
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| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with |
| 0:07.2 | financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading financial |
| 0:13.1 | advisors navigated the inevitable challenges that arise on the path to success and get insight |
| 0:18.7 | from leading industry consultants about how to break through to the |
| 0:22.1 | next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:29.0 | Welcome to the 172nd episode of the Financial Advisor's Success podcast. My guest on today's podcast is |
| 0:35.3 | Minotei Rajput. Manoti is the founder and president of Secure Planning Strategies, a hybrid advisory firm based |
| 0:41.3 | near Detroit, Michigan, that oversees nearly 300 million of assets and our management for 350 client households. |
| 0:48.2 | What's unique about Minotty, though, is that she's built her advisory firm by crafting a deep |
| 0:52.7 | specialization in working with families |
| 0:54.6 | with special needs children and creating a truly multi-generational clientele in serving both |
| 0:59.8 | the parents of those children and supporting the special needs trust for those children |
| 1:03.7 | long after their parents may pass away. In this episode, we talk in depth about what it really |
| 1:09.9 | means to work with the niche of special |
| 1:11.5 | needs families. The way Minotis structures her fees with a combination of an upfront complexity |
| 1:16.3 | based planning fee that may be the entirety of the relationship for some clients. The ongoing |
| 1:20.9 | AUM fee she charges to work with more affluent families for ongoing special needs clients. |
| 1:26.7 | The limitations of doing |
| 1:28.2 | niche-based financial planning and traditional planning software and the need to use Word and Excel to |
| 1:32.8 | create more custom plans, and how Minote has been able to systematize and create repeatable |
| 1:37.9 | expertise to keep even her custom-written financial plans very efficient to create and deliver. |
| 1:44.1 | We also talk about how Minoti built her niche in the special needs community itself. custom-written financial plans very efficient to create and deliver. |
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