Ep 401: One-On-One Advice Through Financial Wellness Programs To (Profitably) Expand The Reach Of Financial Planning with Zack Hubbard
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 3 September 2024
⏱️ 90 minutes
🧾️ Download transcript
Summary
Zack Hubbard is the Director of Financial Planning and Participant Engagement of Greenspring Advisors, an RIA based out of Maryland that manages $2 billion of private wealth assets under management for 1,300 client households and advises on an additional $5 billion in retirement plan assets. Zack and his firm have developed a financial wellness offering that profitably delivers both self-serve technology and direct one-on-one financial advice to employees of businesses using their fiduciary 401(k) services. This approach not only supports plan participants, but also generates a steady stream of referrals for his firm’s private wealth services.
Listen in as Zack shares how his firm uses a three-tiered approach to fiduciary financial wellness for 401(k) plan participants, comprising of education, one-on-one advice, and implementation support, how his firm develops new advisors by allowing them to have many 'at bats' with retirement plan participants, and how he made the decision to shift from client-facing roles to his current position as a manager.
For show notes and more visit: https://www.kitces.com/401
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. Welcome |
| 0:29.3 | to the 401st episode of the Financial Advisor's Success Podcast. My guest today's podcast is Zach Hubbard. |
| 0:36.0 | Zach is the director of financial planning and participant engagement of Green Spring |
| 0:39.9 | advisors, an RAA based in Towson, Maryland, that manages $2 billion of private wealth |
| 0:44.5 | assets under management for 1,300 client households and advises on an additional $5 billion |
| 0:49.6 | in retirement plan assets. |
| 0:51.9 | What's unique about Zach, though, is how he has built a financial |
| 0:54.7 | wellness offering within the firm that both profitably serves employees at businesses that |
| 0:59.1 | utilize their fiduciary 401k services with not just self-serve technology, but outright one-on-one |
| 1:04.9 | financial advice to plan participants and provides a stream of referrals to his firm's private |
| 1:10.2 | wealth services as well. |
| 1:12.2 | In this episode, we talk in depth about Howzac views fiduciary financial wellness to 401k |
| 1:17.1 | plan participants as a three-tiered offering consisting of education, one-on-one advice, |
| 1:22.3 | and implementations. |
| 1:24.0 | Howzac's firm is able to generate incredibly strong email open rates of 75% plus and click-through |
| 1:29.5 | rates of 40% plus on their hyper-targeted educational content that the firm provides, |
| 1:34.5 | with short-form videos having a particularly high click-through rate. |
| 1:38.3 | And Wise Act decided to outsource the implementation of their financial planning advice, |
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