4.8 • 696 Ratings
🗓️ 16 May 2023
⏱️ 101 minutes
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Jim Dew is the Co-Founder and CEO of Dew Wealth Management, an independent RIA based out of Arizona that provides virtual “family office” style financial planning on a monthly retainer for 150 small business owners. Jim stands out for his ability to expand his boutique firm, which operates on a retainer basis, to generate over $7 million in revenue and attain a valuation of $31 million. His firm is also experiencing a remarkable organic growth rate of 40% and has achieved this success by offering a comprehensive and personalized advice service to his niche clientele of business owners.
Listen in as Jim discusses the success of his retainer-based pricing model that has led to his firm being independently valued at $31 million in enterprise value, how he arrived at his retainer fees that cover a wide range of financial services, making it easier to communicate services to clients, and why they charge an upfront fee of $25,000 to prospects for a deep-dive financial planning assessment. He also shares how he has structured his firm by building a list of external tax, legal, and other professionals that have been thoroughly vetted rather than providing these services in-house, and why he has no plans to sell his firm in the near future despite its valuation.
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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 |
0:21.9 | level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
0:28.7 | Welcome to the 33rd episode of the Financial Advisor's Success podcast. My guest on today's podcast is |
0:34.6 | Jim Do. Jim is the co-founder and CEO of Doe Wealth Management, |
0:38.5 | an independent RIA based in Scottsdale, Arizona that provides a virtual family office |
0:42.7 | style financial planning on a monthly retainer basis for 150 small business owner entrepreneurs. |
0:49.0 | What's neat about Jim, though, is how he has scaled as retainer-based boutique firm to more |
0:53.1 | than $7 million of revenue, |
0:54.4 | a $31 million enterprise valuation, and is growing organically at a 40% growth rate by providing |
1:00.7 | his high-touch, comprehensive advice offering for his business owner niche clientele. |
1:05.9 | In this episode, we talk in depth about how, despite not implementing an AOM model, |
1:10.1 | Jim's firm was independently |
1:11.1 | valued at $31 million of enterprise value based on the strength and growth rate of their retainer-based |
1:16.1 | pricing model. |
1:17.5 | How Jim arrived at his retainer-based model that charges $4,000,000 or even $10,000 per month |
1:23.4 | to cover the breadth of the financial quarterback services he provides to his ideal target |
1:27.9 | clientele, business owners with more than a million dollars of EBIT up per year. |
1:32.6 | And why Jim and his firm not only provide deep-dive financial planning assessments to prospects, |
1:36.5 | but have evolved to the point of charging an upfront fee of as much as $25,000 to prospects |
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