Ep 359: Building A Financial Planning Assessment To Show Clients Progress And Value Over Time With Eric Miller
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 14 November 2023
⏱️ 93 minutes
🧾️ Download transcript
Summary
Eric Miller, Chief Financial Advisor and Co-Owner of Econologics Financial Advisors, joins the show today to discuss his innovative approach to financial planning. His unique Financial Prosperity Index, a comprehensive assessment covering 100 questions and 9 different domains, provides clients with a holistic view of their financial health—and helps Eric demonstrate the value of his financial planning services beyond traditional metrics like net worth and investment performance.
Listen in as we discuss Eric's niche-focused practice, catering to healthcare professionals, and his successful strategies for acquiring new clients while delivering substantial value. You'll get insights into his client acquisition tactics, his evolving perspective on celebrating achievements, and his advice for young advisors on honing communication skills for a prosperous career in financial advising.
For show notes and more visit: https://www.kitces.com/359
Transcript
Click on a timestamp to play from that location
| 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. |
| 0:28.5 | Welcome to the 359th episode of the Financial Advisor Success podcast. My guest on today's podcast is |
| 0:34.3 | Eric Miller. Eric is the chief financial advisor and co-owner for |
| 0:37.8 | econologics financial advisors, an independent RIA based in Largo, Florida that generates |
| 0:42.6 | more than $4 million in revenue while working with nearly 300 client households. |
| 0:47.3 | What unique about Eric, though, is how he leverages a custom-built financial planning assessment |
| 0:51.7 | he calls their financial prosperity index, which he gives |
| 0:54.8 | both perspective and ongoing current clients so that they can better understand their financial |
| 0:58.9 | health and target the financial planning domains where clients need most help, and even more |
| 1:03.4 | importantly, be able to track their progress over time and demonstrate the value of ongoing financial |
| 1:08.7 | planning without needing to just talk about the numbers of |
| 1:12.0 | net worth and investment performance. In this episode, we talk in depth about why Eric intentionally |
| 1:17.5 | built his financial prosperity index to cover a hundred different questions where the client |
| 1:21.7 | scored across nine different domains and then receives an aggregated weighted score and a letter |
| 1:26.7 | grade with identified areas of |
| 1:28.7 | improvement to lift their grades higher. |
| 1:31.1 | Why Eric has found that even prospective clients will take the whole hundred question assessment |
| 1:35.3 | before the first meeting because ultimately they want to see their score and get feedback on |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Michael Kitces, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Michael Kitces and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.