Ep 490: Attracting And Retaining HNW Clients By Being More Available For Their Multigenerational Family Needs with Liz Miller
Financial Advisor Success
Michael Kitces
4.7 • 719 Ratings
🗓️ 19 May 2026
⏱️ 90 minutes
🧾️ Download transcript
Summary
For high-net-worth clients, financial planning is often not just about managing their money during their lifetimes, but also a matter of preparing the next generation to inherit family wealth. Which suggests that meeting with clients' children can both offer value for current clients and also begin a relationship with the next generation that could last for decades to come.
Liz Miller is the founder of Summit Place Financial Advisors, a $300M firm she built by focusing on deep relationships and multigenerational planning. Listen in to hear how she raises multigenerational conversations with clients and their children and how she converts clients' children from regular contacts to fee-paying clients. Liz also discusses how she finds that ensuring "nothing falls through the cracks" can be more valuable than chasing returns (and the value of checklists to support this task) as well as why she lets her high-net-worth prospects lead off discovery meetings with their most pressing concern rather than starting with her own qualifications and services.
For show notes and more visit: https://www.kitces.com/490
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 490th episode of the Financial Advisor Success Podcast. My guest on today's podcast is |
| 0:35.2 | Liz Miller. Liz is the founder of Summit Place Financial Advisors, an RIA based in Summit, New Jersey, |
| 0:40.8 | that oversees approximately $300 million in assets under management for 37 client families. |
| 0:46.7 | What's unique about Liz, though, is how she has grown her firm in part by both offering a high-touch service model for her high-net-worth clients |
| 0:53.4 | and by serving their |
| 0:54.5 | children and grandchildren creating continuity for the firm as family wealth passes between generations. |
| 1:00.3 | In this episode, we talk in-depth about how Liz attracts her high-net-worth clients, not necessarily |
| 1:04.9 | through traditional financial planning analyses, as most of them run little risk of running out |
| 1:09.2 | of money, but rather by ensuring that no key |
| 1:11.6 | planning issues fall through the cracks, saving the client's time and anxiety in the process, |
| 1:16.1 | how Liz uses checklist to show clients that her firm is on top of key planning issues and |
| 1:20.4 | to highlight topics that have been successfully completed, and why Liz starts her discovery |
| 1:24.6 | meetings by allowing prospects to lay out any financial concerns that are on their mind, as they might not be able to focus as well on other topics |
| 1:31.0 | if particular pain points are bothering them. We also talk about how Liz brings up multi-generational |
| 1:36.1 | planning conversation starting in the prospect phase, allowing clients to decide whether they |
| 1:40.4 | want to bring their children into the fold or have her firm reach out. How Liz balances the benefits of intrafamily communication about financial issues with the |
| 1:48.0 | privacy obligations they have regarding each generation's financial situations, and how Liz |
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