Ep 239: Creating Advisor Value By Helping Clients With Complexity Regardless Of Assets with Ryan Frailich
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 27 July 2021
⏱️ 90 minutes
🧾️ Download transcript
Summary
Ryan Frailich is the founder of Deliberate Finances, an RIA based out of New Orleans that services young professionals through a monthly subscription fee model. Ryan has intentionally built his advisory business to help people in their 20s, 30s, and 40s navigate the inevitable financial complexities of life, regardless of whether they have assets that need managing.
In this episode, we discuss the reasons why Ryan has decided to niche down to serve clients who may not have liquid assets to manage, and why he believes that this part of the journey is actually more financially complex than later stages. Ryan also shares how he has created a work-life balance through the use of surge meetings, how his background as a teacher has allowed him to create business goals that maximize his financial and family well-being, and the reasons why he has decided to remain a solo advisor.
For show notes and more visit: https://www.kitces.com/239
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 |
| 0:17.4 | and get insight from leading industry consultants about how to break through to the |
| 0:21.9 | next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:28.4 | Welcome to the 239th episode of the Financial Advisor Success Podcast. My guest on these podcast is |
| 0:34.5 | Ryan Freilich. Ryan is the founder of deliberate finances, |
| 0:37.5 | an RIA located in New Orleans, Louisiana, that serves young professionals using a monthly |
| 0:42.2 | subscription fee model. |
| 0:43.7 | What's unique about Ryan, though, is that he's intentionally built his advisory business |
| 0:47.5 | in such a way that allows him to help people in their 20s, 30s, and 40s navigate the inevitable |
| 0:52.2 | financial complexities in their lives, regardless |
| 0:54.6 | of whether or not they have liquid assets that need managing. In this episode, we talk in depth |
| 0:59.6 | about Ryan's experience that while the industry typically assumes clients with limited assets |
| 1:03.8 | have limited financial complexity, in practice is often the journey of getting to the point |
| 1:08.5 | of having assets to manage that is the most complex |
| 1:10.9 | part of the journey. Why Ryan finds that the tendency of financial advisors to not specialize, |
| 1:15.7 | unlike other professionals like doctors who use titles to differentiate among specialties, |
| 1:20.3 | makes it challenging for consumers to find the right advisor to help with their particular pain |
| 1:24.4 | points. And how Ryan is structured his subscription model with a varying |
| 1:27.9 | price range specifically to align to the specialized and complex needs of his younger clientele as their |
| 1:32.9 | own careers evolve and their income grows. We also talk about Ryan's commitment to remaining a |
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