Ep 278: Separating Marketing From Sales To More Efficiently Scale Sustainable Growth with Derek Gregoire

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 26 April 2022

⏱️ 97 minutes

🔗️ Recording | iTunes | RSS

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Summary

Derek Gregoire is a co-owner of SHP Financial, an independent RIA based in Plymouth, Massachusetts that oversees nearly $1.2 billion of total assets for over 1,200 clients. Derek and his firm have centralized the execution of multiple marketing strategies to increase the amount of prospective client leads the firm provides to its advisors, so they in turn can concentrate more on developing client relationships, rather than chasing prospects. Today Derek joins the show to discuss how his firm has built a combination of radio programming, short interview-style television ads, seminars, and digital marketing to bring in prospects.

Listen in as we talk in-depth about the simplified three-meeting sales process his firm developed that aims to avoid overwhelming prospects with choices and how his decision to centralize marketing has ultimately freed up the budget to maintain a larger service staff to ensure a more personal experience for his clients. You will learn the hard lesson Derek and his partners learned after almost reaching burnout and how he got his firm back on track for long-term growth.

For show notes and more visit: https://www.kitces.com/278

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
0:12.1	financial advisors navigated the inevitable challenges that arise on the path to success
0:17.2	and get 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.
0:28.0	Welcome to the 278 episode of the Financial Advisor's Success podcast. My guest on today's podcast is
0:34.2	Derek Greg Warr. Derek is the co-owner of SHP Financial and independent
0:38.5	RAA based in Plymouth, Massachusetts that oversees nearly 1.2 billion of total assets for more
0:44.1	than 1,200 clients. What unique about Derek, though, is how he and his firm have centralized
0:49.0	the execution of multiple marketing strategies to increase the amount of prospective client leads
0:53.4	the firm provides
0:54.2	to its advisors, so they in turn can concentrate more on developing client relationships and not
0:59.8	need to worry about chasing prospects. In this episode, we talk in depth about how Derek has built
1:05.4	a combination of radio programming, short interview style television ads, seminars, and digital marketing to bring in
1:11.9	prospects. How Derek and his firm have developed a simplified three-meeting sales process that
1:16.8	aims to avoid overwhelming prospects with choices and just focuses on whether they want to work
1:21.2	together. And how Derek's decision is centralized marketing is ultimately freed up resources to
1:26.4	maintain a larger service staff
1:27.9	to ensure a high-touch personal experience for clients. We also talk about how Derek and his
1:34.0	partners realize that after getting close to burnout, that it takes more than just advisors to scale
1:38.5	and grow a successful advisory firm. Why at one point, Derek and his partners decided they had to
1:43.3	spend a whole year doing less
	...

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