Ep 227: Achieving Financial Security By Serving 50 Great Clients In Your (LGBTQ) Community with Leighann Miko
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 4 May 2021
⏱️ 90 minutes
🧾️ Download transcript
Summary
Leighann Miko is the founder of Equalis Financial, a fully virtual advisory firm that offers ongoing planning services for 45 creatives within the LGBTQ community. Leighann has been able to realize financial freedom in her own life by serving a unique community that she is also a part of and that often face financial insecurity.
In this episode, Leighann shares her story about how her family’s money insecurities growing up led her to a career path in financial planning and how a failed succession plan was the catalyst for her starting her own firm to serve the LGBTQ community. She also discusses the benefits of being part of the community that you serve, why she hired a copywriter to convey her value to prospective clients, and how she adapted Kinder’s three famous questions for the LGBTQ community.
For show notes and more visit: https://www.kitces.com/227
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 |
| 0:17.3 | and get insight from leading industry consultants about how to break through to the |
| 0:21.8 | next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:28.4 | Welcome to the 227th episode of the Financial Advisor's Success podcast. My guest on today's |
| 0:34.1 | podcast is Leanne Miko. Leanne is the founder of Equalise Financial, a fully virtual advisory firm offering ongoing |
| 0:40.8 | planning services for nearly $500 a month and currently serving 45 creatives within the LGBTQ |
| 0:46.8 | community. |
| 0:48.4 | What's unique about Leanne, though, is that she's been able to realize financial security |
| 0:52.5 | for the first time in her own life by focusing |
| 0:54.7 | on serving a niche community that she belongs to herself, for whom she helps create their |
| 0:59.2 | own financial stability despite the uncertainties around their income streams. |
| 1:03.6 | In this episode, we talk in depth about how Leanne emphasizes her planning-centric services |
| 1:08.9 | by charging a financial planning fee of nearly $500 |
| 1:11.8 | a month and then including the first $500,000 from investment management as part of the planning fee, |
| 1:17.9 | with an AUM fee of just 60 basis points over the threshold. How bringing asset management |
| 1:23.4 | into her financial planning service offering has helped create some additional stickiness for clients. |
| 1:28.5 | While Leanne enlisted the help of a copywriter to clearly communicate on her website, |
| 1:32.4 | her process and value proposition to help create buy-in from new clients, |
| 1:36.4 | and the screening process that Leigh Ann implemented that requires prospective clients to acknowledge |
| 1:41.2 | that they understand what the financial planning fees are going to be before they ever book a second meeting with her. |
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