Ep 267: Making The Business 'Fun' Again By Focusing On Your Core And Outsourcing The Rest with Jared Siegel
Financial Advisor Success
Michael Kitces
4.7 • 719 Ratings
🗓️ 8 February 2022
⏱️ 77 minutes
🧾️ Download transcript
Summary
Jared Siegel is a Partner at Delap Wealth Advisory, a fee-only RIA based out of Portland that oversees nearly $260 million of assets under management for over 70 client households. Jared has created a high-quality and high-touch experience for his clients by outsourcing operations, which has also allowed him to focus on the parts of his business that he loves rather than the everyday back-office minutiae.
Listen in as we dive into how Jared has re-focused his firm to allow him to do the client-facing work that he really enjoys and the lessons that motivated him to spend more time in his zone of genius. Jared also shares how he develops deeper and more meaningful relationships with clients by focusing on non-financial conversations, as well as how he eventually became comfortable with adversity and can now appreciate how his early life failures have shaped him for the better.
For show notes and more visit: https://www.kitces.com/267
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 next |
| 0:22.2 | level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:28.4 | Welcome to the 267th episode of the Financial Advisor's Success Podcast. My guest on today's |
| 0:34.3 | podcast is Jared Siegel. Jared is a partner of Delap Wealth Advisory, a fee-only RIA based in Portland, Oregon, that oversees nearly 260 million in assets under management for more than 70 client households. |
| 0:46.5 | What's unique about Jared, though, is how he outsources middle and back office operations to help his firm concentrate on creating a high-quality, high-touch financial planning |
| 0:54.4 | experience for its clientele of affluent business owners and real estate investors. |
| 0:59.1 | In this episode, we talk in depth about how Jared expanded his firm's offerings beyond |
| 1:03.4 | accounting services and into financial planning and asset management to do more work for |
| 1:07.5 | their existing accounting clients. The way Jared leverages Jay Hughes's |
| 1:11.5 | qualitative capital framework to have better non-financial conversations with new clients, |
| 1:16.1 | and how Jared focuses his financial planning conversations to help clients use their money |
| 1:20.2 | to delegate household tasks and leverage their wealth to create more time for themselves. |
| 1:25.5 | We also talk about how Jared was reaching the point of unhappiness when he realized he was spending far too much of his own time for themselves. We also talk about how Jared was reaching the point of |
| 1:27.6 | unhappiness when he realized he was spending far too much of his own time on tasks he didn't |
| 1:32.0 | enjoy and sometimes wasn't even very good at. How Jared's self-awareness motivated him to center |
| 1:37.2 | his career on doing the client-facing work he loves rather than dealing with the everyday |
| 1:41.3 | back office minutia. And how Jared was inspired by the outsourcing |
| 1:44.8 | success of other advisory firms to hire a tamp for himself and outsource his own investment operations. |
| 1:50.6 | And be starting to listen to the end, where Jared shares how he was inspired by Angela Duckworth's book |
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