Ep 409: Adding 1,400 New Clients in a Year as an Extension of Doing (Profitable) Student Loan Consulting at Scale with Travis Hornsby
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 29 October 2024
⏱️ 90 minutes
🧾️ Download transcript
Summary
Travis Hornsby is the founder of Student Loan Planner, an RIA and student loan consulting company based out of North Carolina that serves nearly 1,400 households with ongoing financial planning and has consulted with over 15,000 clients on student loan debt. Travis quickly expanded his financial planning client base to 1,400 in just over a year by leveraging his extensive pool of student loan consulting clients, which had significantly grown over the past decade.
Listen in as Travis shares how he carved out a niche in student loan planning, which laid the groundwork for transitioning into comprehensive financial planning. He discusses his strategic approach to pricing and client service that spurred rapid business growth, and delves into the personal and professional transformations that prompted his move to establish an RIA. Travis also reflects on how his personal journey through FIRE (Financial Independence, Retire Early) movement influenced his business decisions, allowing him to seize growth opportunities that aligned with his values and effectively broaden his service offerings.
For show notes and more visit: https://www.kitces.com/409
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 409th episode of the Financial Advice for Success podcast. My guest today's |
| 0:34.3 | podcast is Travis Hornsby. Travis is the founder of Student loan planner, an R.A. and student loan consulting company based |
| 0:40.4 | in Chappahill, North Carolina, that serves nearly 1,400 households with ongoing financial |
| 0:45.2 | planning, as well as consulting with over 15,000 clients on student loan debt. |
| 0:50.0 | What you think about Travis, though, is how he rapidly built out his base of 1400 financial |
| 0:54.5 | clients in barely more than a single year by hyper-scaling his financial planning offering |
| 0:59.7 | from a base of nearly 10x as many student loan consulting clients that's firm had already been |
| 1:04.7 | providing advice to over the past decade. |
| 1:07.4 | In this episode, we talk in depth about how Travis originally developed his specialization |
| 1:11.8 | of student loan planning through first correcting misinformation that was being given to his now |
| 1:16.9 | wife and her friends in the medical field and realized he could give a high value to chronically |
| 1:21.8 | underserved population. How Travis first started his student loan consulting firm, charging for just |
| 1:27.0 | one hour of the most |
| 1:28.0 | highly relevant student loan advice he could provide, and how Travis vetted which prospects were |
| 1:32.4 | even serious about wanting that advice. And how while Travis initially priced his consulting work |
| 1:37.2 | intentionally blow market in order to get opportunities to practice his advice and build trust |
| 1:41.8 | and momentum with a higher volume of clients, |
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