Ep 260: Breaking Bread Together To Build New Client Relationships As Their Financial Chef with David Ortiz
Financial Advisor Success
Michael Kitces
4.7 • 719 Ratings
🗓️ 21 December 2021
⏱️ 80 minutes
🧾️ Download transcript
Summary
David Ortiz is the founder of Financial Chef, a unique independent RIA that operates as a lifestyle practice in Southern California. David has combined his experience as a classically trained chef to create an experience unlike any other for his clients: literally breaking bread with them as he provides financial advice.
Listen in as we dive into David's journey through the advice business, from being a chef to working for a software company, and then from life insurance to ultimately opening his own independent RIA. We also discuss how he got started with his business model, why he decided to take it mobile, and how this unique services package has helped David deepen his relationship with his clients.
For show notes and more visit: https://www.kitces.com/260
Transcript
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| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with |
| 0:06.8 | financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading financial |
| 0:12.7 | advisors navigated the inevitable challenges that arise on the path to success and get |
| 0:17.8 | insight from leading industry consultants about how to break through to the next |
| 0:21.9 | level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:28.6 | Welcome to the 260th episode of the Financial Advisor Success Podcast. My guest on today's |
| 0:34.3 | podcast is David Ortiz. David is the founder of Financial Chef, an independent RAA operating as a lifestyle practice serving clients in Southern California. |
| 0:42.9 | What's unique about David, though, is the way he combined his experience as a classically trained chef with the growth of his advisory firm, |
| 0:49.5 | which now includes driving a sprinter van with a full kitchen so he can travel to a wider range of clientele across South Florida to cook custom meals for them and then provide financial advice |
| 0:58.9 | while they eat their freshly prepared food together. In this episode, we talk in depth about |
| 1:03.3 | how David grew his advisory firm by leveraging his training as a chef, first by building |
| 1:07.6 | relationships with local charities where he would provide in-house cooking |
| 1:11.1 | for a party of 10 as a silent auction offering to get access to high-value prospects who |
| 1:16.1 | were affluent enough to bid thousands of dollars on his donated chef services. |
| 1:19.9 | How David then built an office space with a professional kitchen where the timing of client |
| 1:23.5 | meetings was based on the available breakfast, lunch, and dinner sittings that restaurants use, |
| 1:28.0 | and why David ultimately decided to make his cooking plus advice services more mobile by buying a van |
| 1:33.1 | with the kitchen so that he could bring the food directly to his clients in what David calls |
| 1:37.2 | the Ritz Carlton of food trucks. We also talk about how David has evolved his financial planning |
| 1:42.1 | services for clients, including how David is largely |
| 1:44.7 | astute relying on traditional planning software and instead builds his value proposition directly |
| 1:49.0 | around the ongoing and never-ending financial planning tasks that his clients need his help to |
... |
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