Ep 308: Accelerating Growth From Referrals By Building Checklists For Every Meeting Detail With Matthew Blocki
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 22 November 2022
⏱️ 85 minutes
🧾️ Download transcript
Summary
Matthew Blocki is the CEO of Equilibrium Wealth Advisors, an independent RIA based in Pittsburgh, Pennsylvania that oversees more than $275 million in assets under management for 330 client households. Today Matthew joins the show to share why he and his firm decided to develop and then implement their pre-, during-, and post-meeting checklists as a way to create a more efficient process and better position themselves as their clients’ personal CFOs offering a more concierge experience.
Listen in as Matthew shares how he leverages one-to-many recorded videos and online FAQs to increase his communication with existing clients on key issues, what he attributes the 4x growth of his firm to, and why he made the decision to break away from a large insurance company. You will learn why he decided to go the independent RIA route, how he narrowed down the number of clients he had without losing a significant amount of revenue, and how he formulated the client capacity targets for his advisory teams that he set to determine when to hire the next new advisor.
For show notes and more visit: https://www.kitces.com/308
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 Kitsas to hear stories of how leading financial |
| 0:12.7 | advisors navigated the inevitable challenges that arise on the path to success and get insight |
| 0:18.3 | from leading industry consultants about how to break through to the next |
| 0:22.0 | level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:28.8 | Welcome to the 308th episode of the Financial Advisor's Success podcast. My guest on Tays podcast is |
| 0:34.7 | Matthew Blocky. Matthew is the CEO of Equilibrium Wealth Advisors, |
| 0:38.6 | an independent R.A. based in Pittsburgh, Pennsylvania that oversees more than 275 million |
| 0:42.9 | in assets in our management for 330 client households. What's unique about Matthew, though, |
| 0:47.8 | is how he and his firm have implemented pre-meeting, during meeting, and post-meeting checklist |
| 0:52.2 | to create more efficient processes that not only save their staff and clients some time, but also maps out all the details to be covered |
| 0:59.4 | in each client meeting, ensuring that truly no detail the client's life is missed. |
| 1:05.2 | In this episode, we talk in depth about why and how Matthew and his firm decided to develop |
| 1:09.5 | and then implement their checklist as a way |
| 1:11.5 | to better position themselves as their clients' personal CFOs offering the more concierge experience. |
| 1:17.3 | How Matthew leverages one and many recorded videos and online FAQs to increase his communication |
| 1:22.0 | with existing clients on key issues. And why, while Matthew feels his firm is only maybe incrementally better than other |
| 1:29.2 | good advisory firms, he attributes the 4x growth of the firm over the past four years to the fact |
| 1:34.2 | that like horses in a race, sometimes being just incrementally better than your competition |
| 1:38.6 | and beating them out by an inch is all it takes to be the winner of the race. |
| 1:46.3 | We also talk about how Matthew made the decision to break away from a large insurance company after a point of self-reflection where |
| 1:50.1 | he realized that his career goals weren't really helping him grow as an advisor and were more |
... |
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