Ep 249: Going Beyond Client Experience With Client Adventures To Drive Organic Growth with Drew Waldron
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 5 October 2021
⏱️ 90 minutes
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Summary
Drew Waldron is the co-founder of Canvas Wealth Advisors, an RIA based out of Kansas that manages $455-million for 150 families. Drew and his partner have taken the client experience to a whole new level by not only reinvesting into client services and better technology, but also by executing once-in-a-lifetime excursions exclusively for clients of the firm.
Listen in as Drew shares how he and his partner have differentiated their firm by leveraging client excursions and experiences, the different kinds of adventures his firm executes for clients, and the strategy they employ to assemble clients together to foster introductions and networking opportunities. We also dive into how this unique experiences-based marketing strategy has catapulted the firm to north of $450-million in assets in just over two years and why they place so much emphasis on constantly providing added value to clients and prospects.
For show notes and more visit: https://www.kitces.com/249
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 from leading |
| 0:19.2 | industry consultants about how to break through to the next |
| 0:22.3 | level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. Welcome to |
| 0:29.4 | the 249th episode of the Financial Advisor's Success podcast. My guest on today's podcast is Drew Waldron. |
| 0:36.5 | Drew is the co-founder of Canvas Wealth Advisors, |
| 0:38.9 | an RIA in Overland Park, Kansas that manages about $455 million for 150 client households. |
| 0:45.7 | What's unique about Drew, though, is the way that he and his partner take the implementation |
| 0:48.7 | of client experience, the next level, by not just reinvesting in a client service or better |
| 0:53.3 | technology, |
| 0:58.8 | but organizing and executing exotic once-in-a-lifetime excursions for their clients to have a truly differentiated experience as clients of the firm. |
| 1:03.8 | In this episode, we talk in depth about the sorts of adventures that Drew and Scott |
| 1:07.7 | planned for their clients and prospects and how they assemble a group specifically to foster introductions for clients who might benefit from connecting with others |
| 1:15.1 | who are also invited along. Drew's observations about how staging the right experience with the |
| 1:19.5 | right group of people can help his wealth management firms stand out against competing firms. |
| 1:23.8 | And how Drew's prior experience is a junior advisor and other wealth management teams |
| 1:27.2 | allowed him to build out a network of affluent professionals in his area that he can call on to make those connections that help clients and prospects build their own new relationships. |
| 1:36.4 | We also talk about how after launching the spring of 2019 and bringing along about 50 million in client assets from his previous firm, Canvas wealth has been able to grow to north of 450 million assets in just two and a half years with its unique experiences-based |
| 1:49.3 | marketing approach. The lesson that Drew learned during the height of the pandemic around the |
| 1:53.1 | importance of staying in touch with clients and being truly proactive with maintaining relationships, |
| 1:57.6 | and how Drew creates touch points for every single one of his clients every single month by |
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