Ep 363: Finding The Best Networking Approach For Prospects (And New Career Opportunities) with Christa Madison

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 12 December 2023

⏱️ 92 minutes

🔗️ Recording | iTunes | RSS

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Summary

Christa Madison is the Managing Director of Financial Planning and Business Development at Sebold Capital, a fee-only RIA based out of Chicago that oversees $300 million across more than 100 households. Christa's distinct approach lies in her adept use of business development and networking skills to rebuild her client base from scratch three times, amidst personal and professional changes. She transformed these challenges into opportunities, adapting to her evolving skills and competencies to seize larger, more profitable ventures.

Listen in as Christa dives into her journey, highlighting the trials and triumphs of her initial foray into insurance sales and the pivotal role of her robust networking and follow-up strategies in rebuilding her client base through various career transitions. She also shares her belief that it takes about three years to transform initial prospecting efforts into a self-sustaining referral network, how she balanced the demands of her burgeoning career with family life, her strategic shift to the RIA channel, and how her early experiences in insurance sales fortified her skills as a financial advisor.

For show notes and more visit: https://www.kitces.com/363

Transcript

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0:00.0	Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner,
0:08.4	speaker and consultant Michael Kitsis to hear stories of how leading financial advisors
0:13.6	navigated the inevitable challenges that arise on the path to success and get insight from leading
0:19.2	industry consultants about how to break through to the
0:22.0	next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone.
0:29.0	Welcome to the 363rd episode of the Financial Advisor Success podcast. My guest on today's podcast is
0:35.2	Krista Madison. Krista is the managing director of financial planning and business development at Seabold Capital,
0:40.7	a fee-only RIA based in Chicago, Illinois, that manages $300 million across more than 100 client
0:46.2	households.
0:47.4	What to think about Krista, though, is how she used her business development and networking skills
0:51.4	to overcome the challenge that sprung up when through a combination
0:54.6	of personal and professional shifts, she found herself building her book of business from scratch
0:58.8	three separate times and how she leveraged each of those pivots as an opportunity to account
1:03.8	for how her own skills and competencies were changing and grow in a larger and more lucrative
1:09.1	opportunities. In this episode, we talk in depth about how Krista's start and insurance sales at Northwestern Mutual
1:14.7	brought both success in building a book of younger clients just beginning their career
1:18.4	journeys and challenges that she faced in hitting sales goals when her younger clientele were
1:22.8	more interested in starting Roth IRAs and didn't need much insurance yet.
1:27.2	How Krista's intensive networking event schedule and simple but uniquely branded way of following
1:32.7	up allowed her to feed into a 10-3-1 prospecting pipeline, which on average, every 10 prospect
1:38.3	she approached, three were interested in her services and one would eventually become a client,
1:42.7	to allow her to continually rebuild her
	...

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