Ep 199: The Barbell Approach To Building A High-Income And Broad-Reach Lifestyle Practice with Morgen Rochard

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 20 October 2020

⏱️ 112 minutes

🔗️ Recording | iTunes | RSS

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Summary

Morgen Rochard is the founder of Origin Wealth Advisers, an independent RIA based out of Austin, Texas, that oversees nearly $35 million in assets under management for 25 affluent clients. Using a barbell approach to doing good in the world, Morgen has focused her practice to work with no more than 30 clients at a time at a rate of $12,000, which allows her the financial and time freedom to raise her family and create a book and podcast to disperse knowledge to those who otherwise wouldn’t be able to afford her services.

Listen in as Morgen shares how she structures her advisory firm to work with only a select number of affluent clients, why she structures her fees based on net worth but still views investment management as an essential service in her practice, and how she created a financial coaching business entirely separate from Origin Wealth Advisers. She will also detail her actual financial planning process with clients, why she focuses on what her clients can accomplish in a 12-18 month window instead of 20-30 years down the road, and what her secret is to being hyper-efficient.

For show notes and more visit: https://www.kitces.com/199

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
0:17.5	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. Welcome, everyone.
0:28.5	Welcome to the 199th episode of the Financial Advisor Success Podcast. My guest on today's podcast is
0:34.6	Morgan Rochard. Morgan is the founder of Origin Wealth Advisors, an independent RIA based in Austin, Texas,
0:40.5	that oversees nearly 35 million in assets under management for 25 affluent clients.
0:46.0	What's unique about Morgan, though, is her barbell approach to doing good, with a focus
0:50.8	practice that deliberately works with no more than 30 clients at a time,
0:59.5	which at a minimum fee of $12,000 per client allows her to generate $300,000 of revenue working only 10 to 15 hours a week so that she can both raise her family as a 30-something mother
1:05.0	and create a book and a podcast to also help the masses than can't afford her high-service solution.
1:11.4	In this episode, we talk in depth about how Morgan has structured her advisory firm,
1:16.0	why she deliberately crafted an approach of working with just a small number of high-value
1:19.7	clients to whom she can provide a high-touch service, the reason she structures her fee
1:23.9	based on net worth but views investment management as an essential service in the solution,
1:28.3	and how she structured a financial coaching business to be entirely separate from her RIA entity.
1:33.9	We also talk about Morgan's actual financial planning process with clients.
1:37.9	Why she structures her financial planning approach to start first with what's important to the client,
1:42.0	and second about what's important to financial
1:44.2	planning itself. The way Morgan has integrated financial life planning into an initial three-meeting
1:49.1	process with clients, why Morgan's focused with clients in their 30s and 40s is all about
	...

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