Ep 310: Filtering Down To The Most Impact-Weighted Work To Scale Client Value With Natalie Taylor

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 6 December 2022

⏱️ 95 minutes

🔗️ Recording | iTunes | RSS

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Summary

Natalie Taylor is the owner of Natalie Taylor Consulting Services, an independent virtual RIA, and the Head of Financial Advice for Monarch Money, a personal financial management tool that helps consumers track their spending and net worth. While working for a FinTech company, Natalie realized that the way to provide the greatest amount of impact and value to the end consumer is to collect the data, deliver the advice, and filter out the rest.

Listen in as Natalie shares how working for LearnVest inspired her to develop a framework for their financial advisors that focused on providing only the most impactful financial advice to help clients move forward, how she developed a brand voice to help advisors communicate advice to clients more consistently, and the catalyst that led to Natalie ultimately leaving LearnVest and dismantling the advice offering that she had originally built. We also discuss why she switched firms to get more hands-on mentoring and the opportunity to work with higher caliber clients, why it is important for newer and younger advisors to concentrate on getting clear on their values and then filtering their career choices accordingly, and why the key to her success has stemmed from developing her own personal list of six core values that she uses to filter major family and career decisions.

For show notes and more visit: https://www.kitces.com/310

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 insight
0:18.3	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 Kitsas. Welcome, everyone.
0:28.7	Welcome to the 3010th episode of the Financial Advisor Success Podcast. My guest on today's podcast is
0:34.7	Natalie Taylor. Natalie is the owner of Natalie Taylor Consulting Services, an independent virtual RIA,
0:40.2	and is also the head of financial advice for Monarch Money, a personal financial management
0:44.8	tool that helps consumers track their spending and net worth over time.
0:48.6	What's unique about Natalie, though, is how during her years of working for a fintech company,
0:52.9	she realized that providing valuable
0:54.5	financial advice that's more affordable for the masses ultimately requires collecting only the
0:59.6	data and delivering only the advice that will provide the greatest amount of impact of value
1:03.8	to the client and filtering out the rest that just isn't cost-effective advice for the end consumer.
1:10.2	In this episode, we talked in depth about how
1:12.2	while working at LerInvest, Nali realized that their financial advisors were much more limited by the
1:17.3	constraints of data and time and fees that clients can pay than the traditional advisor, which
1:22.0	inspired her to develop her impact-weighted framework that focuses on providing only the truly
1:27.3	most impactful advice
1:28.4	to help clients move forward right now.
1:31.5	How while also working at LearnVest, Nally developed a brand voice guide to help all their
1:35.6	advisors communicate advice to clients more consistently and revolved around five principles
	...

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