Ep 385: Unblocking Clients That Won’t Implement With A Journey Of Financial Health with Danielle Howard
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 14 May 2024
⏱️ 90 minutes
🧾️ Download transcript
Summary
Danielle Howard is the owner of Wealth By Design, a hybrid advisory firm based out of Colorado that oversees about $35 million in assets under advisement for 35 client households. Danielle's unique "Financial Fingerprints To Footprints" process assists clients who have difficulty implementing financial plans by uncovering and addressing their money memories. This approach helps them understand how past financial lessons shape their current financial identities and may hinder future goal achievement.
Listen in as Danielle shares how she structures her financial planning engagements, using a 5-meeting sequence focused on understanding the client’s financial situation and the psychological factors influencing their money management. She discusses her transition to a planning-centric business, influenced by personal experiences with life planning questions, and explains how she adapts her client headcount to suit different life stages. We also explore the unique contributions women can make in the financial planning industry, Danielle’s evolving definition of success, and the personalized career paths available in the industry that allow for personal fulfillment while aiding clients in achieving their financial goals.
For show notes and more visit: https://www.kitces.com/385
Transcript
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| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with |
| 0:07.1 | financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading |
| 0:12.4 | financial advisors navigated the inevitable challenges that arise on the path to success |
| 0:17.4 | and get insight from leading industry consultants about how to break through to the next |
| 0:22.2 | level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:29.2 | Welcome to the 385th episode of the Financial Advisor Success Podcast. My guest on today's |
| 0:34.3 | podcast is Danielle Howard. Danielle is the owner of Wealth by Design, a hybrid |
| 0:38.3 | advisory firm based in Glenwood Springs, Colorado, that oversees about 35 million in assets under |
| 0:42.6 | advisement for 35 client households. What's unique about Danielle, though, is how she has created |
| 0:47.8 | a process. She calls financial fingerprints to footprints, where she helps clients who are struggling |
| 0:52.5 | to implement their financial planning recommendations by working with them to unlock their early money memories and help them understand |
| 0:58.0 | how financial lessons of their past may be creating a financial identity that's preventing |
| 1:02.5 | them from taking the actions necessary to achieve their goals of the future. |
| 1:06.6 | In this episode, we talk in depth about how Danielle structures her financial planning engagements, |
| 1:10.8 | which includes a five-meeting sequence during the first year that explores both the client's financial In this episode, we talk in depth about how Danielle structures her financial planning engagements, |
| 1:15.1 | which includes a five-meeting sequence during the first year that explores both the client's financial situation and more of the whys behind how they view money. |
| 1:18.9 | How Danielle uses tools such as money quotient in George Kinder's three life planning questions |
| 1:23.0 | to dig deeper in a client's money memories and money identities, and how Danielle positions these |
| 1:27.7 | conversations to occur after she presents her initial financial planning recommendations at a point |
| 1:32.6 | where clients are already engaged enough and have enough buy-ins to the process that they're |
| 1:36.7 | willing to explore these somewhat more sensitive topics that can lead to real breakthroughs. |
| 1:42.0 | We also discuss how Danielle's transition from having an |
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