Ep 435: When The Next-Gen “Wealth Builder” Offering Becomes The Main Driver Of Growth For A $1B+ Advisory Firm with Gideon Drucker

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 29 April 2025

⏱️ 90 minutes

🔗️ Recording | iTunes | RSS

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Summary

Gideon Drucker is the CEO of Drucker Wealth, a hybrid advisory firm based out of New York City that oversees approximately $1 billion in assets under management for 800 client households. What’s unique about Gideon is how he launched a “Wealth Builder” service model to support high-income next-gen clients—within a firm traditionally focused on retirees. In just five years, the offering has added 275 client households and become the primary engine of growth for Drucker Wealth.

Listen in as Gideon shares how he structured his firm’s Wealth Builder division with a high advisor-to-operations staff ratio to meet the complex needs of mid-career professionals, ensured profitability by setting a minimum fee while introducing gradual fee increases for existing clients by clearly tying them to the firm’s growing value. He also discusses how his clients regularly make referrals without directly being asked to, his transition from direct client service to firm leadership and management, and how his early cold-calling days pushed him toward a content-based marketing strategy that consistently brings in qualified prospects.

For show notes and more visit: https://www.kitces.com/435

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.
0:28.9	Welcome to the 435th episode of the Financial Advisor Success Podcast. My guest on today's podcast is
0:34.9	Gideon Drucker. Gideon is the CEO of Drucker Wealth, a hybrid advisory firm based in New York City
0:40.0	that oversees approximately $1 billion in assets under management for 800 client households.
0:45.7	What's unique about Gideon, though, is how he initiated a wealth builder offering,
0:49.4	serving high-income next-generation clients within a firm that historically worked primarily with retirees,
0:54.9	that in just five years has added 275 high-value client households and has become the primary
1:01.3	growth driver for Drucker Wealth overall. In this episode, we talk in depth about how Gideon
1:05.7	shaped his firm staffing to have a higher ratio of advisors to operation staff to serve clients on the wealth
1:11.3	builder side, given the often extensive planning needs amid career professionals compared to the
1:16.3	firm's retired clients whose plans are often relatively stable and just need more regular
1:20.8	portfolio withdrawals. How getting it ensured that his firm's wealth builder clients would be
1:25.3	profitable by instituting a $5,000
1:27.5	minimum fee for new clients, while recognizing the fast pace that many of these clients are adding
1:32.2	to their assets means they will likely generate significantly higher fees from assets
1:35.8	under management over time. And how Gideon linked the announcement of a more gradual fee minimum
1:41.1	increase for current clients to the value that the firm was providing them now,
1:45.5	finding that clients who are already taking full advantage of the firm's services were the most
	...

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