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 Kitsas. Welcome, everyone.

Welcome to the 210th episode, The Financial Advisor Success Podcast. My guest since today's podcast is

Sten Morgan. Sten is the founder of legacy investment planning, a hybrid advisory firm near Nashville,

Tennessee that generates more than $2 million of revenue per year, serving 220 affluent clients.

What's unique about Sten, though, is the way he's built his advisory firm by making himself

and his planning ideas into his product, charging first and foremost for his advice and the unique

way he's figured out how to quantify the value of his advice strategies that he's bringing to the

table for clients.

In this episode, we talk in depth about Stens, the advisor is the product philosophy.

Why every prospect meeting starts off with a whiteboarding session where Sten tries to

highlight new planning ideas for clients right away instead of holding back until he's been hired

before sharing his best ideas.

The mental strategy that Sten uses to quantify the near-term positive economic benefits that

his advice will bring to get clients comfortable with his advice fees.

And why Sten charges a full-rate financial planning fee with

monthly retainer fees of hundreds or even thousands of dollars per month, and then discounts his

AUM fee for those who subsequently implement with them. We also talk about Stent's own journey

through the advisory business, why he started out at a major life insurance firm, but ultimately

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