Ep 264: Outsourcing Lead Generation To Accelerate Growth When Starting From Scratch with Dan Callahan
Financial Advisor Success
Michael Kitces
4.7 • 719 Ratings
🗓️ 18 January 2022
⏱️ 88 minutes
🧾️ Download transcript
Summary
Dan Callahan is the Partner and Chief Investment Officer at Capasso Planning Partners, an independent RIA based out of South Carolina that oversees $250 million of assets under management for 300 households. Dan and his firm began with zero clients but were able to grow substantially in only 3 years through client acquisitions by outsourcing lead generation to online third-party platforms.
Listen in as Dan shares how he grew his firm virtually, the challenges and triumphs he experienced starting from zero, and how he has been able to keep pace with larger firms in terms of client outreach efforts. We also dive into how Dan uses third-party platforms to maximize his reach beyond South Carolina and how he justifies the revenue-sharing and substantial marketing costs it takes to buy leads.
For show notes and more visit: https://www.kitces.com/264
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 |
| 0:18.9 | leading industry consultants about how to break through to the |
| 0:22.0 | next level in your advisory business. And now here's your host, Michael Kitsas. Welcome, everyone. |
| 0:29.0 | Welcome to the 264th episode, the Financial Advisor Success Podcast. My guest on today's podcast is |
| 0:35.2 | Dan Callahan. Dan is a partner in the chief investment officer at Capasso Planning Partners, a rapidly growing independent RIA based in Charleston, South Carolina that oversees about 250 million in assets and our management for 300 client households across the country that are all served virtually. |
| 0:51.3 | What to name about Dan, though, is the way he and his firm began with nearly zero clients |
| 0:55.4 | but grew substantially in client acquisition over a three-year period, especially in areas |
| 0:59.2 | outside the local Charleston area, by outsourcing lead generation to third-party platforms. |
| 1:05.8 | In this episode, we talk in depth about how Dan incorporates third-party lead providers like |
| 1:10.7 | Zoe Financial, |
| 1:11.7 | smart assets, smart advisor, and fee only network, to name just a few, to maximize the reach of |
| 1:16.6 | potential clients beyond his local area. How Dan highlights his firm's fee structure and flexible |
| 1:21.3 | meeting times to position the firm to stand out in a crowded marketplace of other virtual |
| 1:25.7 | advisory firms pushing for the same leads. |
| 1:28.3 | And how Dan justifies the non-trivial revenue sharing and other marketing costs that it takes |
| 1:32.8 | to buy leads by having gotten himself from zero to almost 50 million of personal client assets |
| 1:38.1 | under management in barely three years. |
| 1:41.2 | We also talk about how Dan's perseverance and client outreach allowed him to keep pace with |
| 1:45.3 | larger firms despite not having a dedicated business development or marketing team. |
| 1:49.7 | How Dan's experiences of family firms gave him opportunities early in his career to experience |
... |
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