Ep 221: Earning More Client Referrals By Cultivating Community Through Client Events with Miye Wire
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 23 March 2021
⏱️ 90 minutes
🧾️ Download transcript
Summary
Miye Wire is the founder of an eponymous hybrid RIA that manages $200 million dollars for 250 young professional families and has become the go-to benefits and equity compensation expert for Microsoft employees. Miye has built her firm around a robust referral engine from her niche, thanks in part to the memorable client events she hosts throughout the year that create a unique sense of community for her clients.
In this episode, she shares how her events and community strategy have led to her firm being built upon referrals, as well as why she has taken a team approach in her firm to make sure that not only are client inquiries handled promptly, but advisors are able to create more work-life balance. Listen in to learn how Miye shifted away from worrying about whether she was fitting into a certain financial advisor type and embraced what makes her—and her firm—different.
For show notes and more visit: https://www.kitces.com/221
Transcript
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| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner, |
| 0:08.4 | speaker and consultant Michael Kitsis to hear stories of how leading financial advisors |
| 0:13.5 | navigated the inevitable challenges that arise on the path to success and get insight |
| 0:18.6 | from leading industry consultants about how to break through to the next |
| 0:22.2 | level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:28.9 | Welcome to the 221 episode, the Financial Advisor Success Podcast. My guest on today's podcast is |
| 0:35.3 | Mia Wire. Mia is the founder of her eponymous hybrid RA based in REST in Virginia that manages $200 million |
| 0:41.7 | for about 250 young professional families. |
| 0:45.3 | What's unique about Mier, though, is how she's developed a referral engine around her |
| 0:49.2 | work with Microsoft employees, hosting several unique and memorable client events throughout |
| 0:53.4 | the year to instill a sense |
| 0:54.6 | of community amongst her niche client base, and how that also ends out driving even more |
| 0:58.8 | referrals from clients who are excited to share that they're part of MIA's community. |
| 1:03.2 | In this episode, we talk in depth about how MIA has become the go-to benefits and equity compensation |
| 1:08.4 | expert for Microsoft employees at their hub in Reston, |
| 1:11.4 | and even gets to provide benefits training for their new hires who've recently graduated from |
| 1:15.3 | college. How Mia's client challenges in finding the bandwidth to manage their nearly monthly |
| 1:20.1 | Microsoft stock events has led her to make her own client deliverable a simple one-page financial |
| 1:25.2 | planning summary that just lets clients know where they stand in relation to their goals and includes her planning recommendations. And why Mie structures |
| 1:32.1 | those recommendations to be so detailed that clients could even implement themselves if they |
| 1:36.2 | wanted, although most have still hired her to do it for them. We also talk about how Mie |
| 1:41.3 | structures her fees, starting with $300 an hour fee for creating |
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