Ep 173: Growing To $250M In 5 Years By Crafting A More Specialized Client Experience with Andrew Leonard

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 21 April 2020

⏱️ 108 minutes

🔗️ Recording | iTunes | RSS

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Summary

Andrew Leonard is the founder of Geometric Wealth Advisors, an independent RIA that oversees nearly $250 million in AUM for 110 client households. Andrew has settled into a unique niche, which ultimately propelled his firm to organically add almost $200 million dollars of net new assets in just five years—almost entirely from a single white paper he wrote for that niche. Today he joins the show to discuss what customizing the financial process and experience to a particular type of client really entails and how he managed to do so in such an effective way.

Listen in as Andrew shares the unique opportunities and challenges that accompany working with management consultants who are trained to analyze and scrutinize financial models and projections. You will learn about the live presentations he has evolved his practice to focus on, how he is able to connect with clientele that are based all around the country, and the benefits of focusing on a unique niche to accelerate your career.

For show notes and more visit: https://www.kitces.com/173

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
0:18.3	insight from leading industry consultants about how to break through to the
0:22.2	next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone.
0:28.5	Welcome to the 173rd episode of the Financial Advisor's Success podcast. My guest today's podcast is
0:35.0	Andrew Leonard. Andrew is the founder of Geometric Wealth Advisors, an independent RAA based in the Washington, D.C. area that oversees nearly 250 million of assets under management for 110 client households.
0:47.9	What's unique about Andrew, though, is his decision to focus into a unique niche serving the partners at the Big Three Strategy
0:55.5	consulting firms, Bain McKinsey, and BCG, propelling his firm to organically add almost 200 million
1:01.3	dollars of net new assets in just five years, almost entirely from a single white paper he
1:06.1	wrote for his niche, and the ongoing one-meeting-closed referrals he's been able to generate
1:10.7	as a now-recognized
1:12.0	expert in that niche. In this episode, we talk in depth about what it really means to customize
1:17.7	a financial planning process and experience to a particular type of niche clientele. The unique
1:22.7	opportunities and challenges in working with management consultants who may make more than a million
1:27.0	dollars a
1:27.6	year and save $250,000 annually into their portfolios, but have been trained to analyze and
1:33.6	scrutinize financial models and projections. How Andrew evolved his financial planning process
1:39.3	to focus almost entirely on live interactive presentations of financial planning models using eMoney's
1:44.8	decision center and is doing the written plan altogether. And how Andrew combines in-person and
1:50.8	virtual delivery to a clientele who are largely distanced based and spread across the country.
1:56.0	And why Andrew ultimately decided to stick with a traditional assets under management model
	...

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