Ep 247: Systematizing How To 'Deliver Massive Value' To Charge What You're Really Worth with Matthew Jarvis
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 21 September 2021
⏱️ 94 minutes
🧾️ Download transcript
Summary
Matthew Jarvis is the owner of Jarvis Financial, an RIA based out of Seattle that manages $240-million for 170 households. Matthew is incredibly focused on increasing the efficiency and profitability of his firm by systematizing his business processes, thereby delivering even more value to clients.
Listen in as Matthew shares the secret behind more than doubling his AUM over the last four years, including why he made the decision to refer clients who are not a good fit for his firm to other advisors and how he ensures the transition is as smooth as possible. We also discuss how systems have played a big part in the firm’s growth, allowing him to deliver more value to clients while raising his fees accordingly.
For show notes and more visit: https://www.kitces.com/247
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 |
| 0:13.6 | navigated the inevitable challenges that arise on the path to success and get insight |
| 0:18.7 | from leading industry consultants about how to break through to the |
| 0:22.1 | next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:29.0 | Welcome to the 247th episode of the Financial Advisor's Success podcast. My guest on today's podcast |
| 0:34.9 | is Matthew Jarvis. Matthew is the owner of Jarvis Financial, |
| 0:38.5 | an RIA in Seattle, Washington that manages 240 million for 170 households. What's unique about |
| 0:45.4 | Matthew, though, is his ongoing focus on increasing the overall efficiency and profitability |
| 0:49.6 | his firm, first by systematizing his business processes to deliver even more value to his clients, |
| 0:55.2 | and then raising his fees so that he's fairly compensated for the greater, more systematized |
| 1:00.0 | value that he now delivers. In this episode, we talk in depth about how Matthew's practices |
| 1:05.7 | evolved since he was one of the first guests on this podcast, including hiring an additional |
| 1:10.1 | advisor who's taking over |
| 1:11.3 | 90% of the firm's client relationships so Matthew can scale the launching of his own advisor |
| 1:16.0 | coaching program and fintech solution. How by graduating clients that aren't a good fit for his |
| 1:20.9 | firm and referring them out to younger advisors who are, Matthew has managed to more than double |
| 1:25.4 | his AUM in the past four years by focusing on onboarding increasingly higher net worth clients. |
| 1:30.9 | And how Matthew uses a concept he calls extreme accountability as his own impetus to move forward on the important but sometimes unpleasant business tasks, |
| 1:38.7 | by making the status quo even more unpleasant than the task itself. |
| 1:42.9 | We also talk about why Matthew feels that mastermind groups |
| 1:45.8 | are so important and the specific steps advisors can take to create nurture their own group, |
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