Welcome everybody! Welcome to the 442nd episode of the Monetary Advisor Success Podcast!
My visitor on right this moment’s podcast is David Bahnsen. David is the founding father of The Bahnsen Group, an RIA based mostly in Newport Seaside, California, that oversees roughly $7.5 billion in belongings below administration for 1,800 shopper households.
What’s distinctive about David, although, is how his agency has been capable of appeal to $100 million in new shopper belongings per thirty days thanks largely to his content material creation and public commentary on funding markets in addition to points that advisors usually keep away from, together with faith and politics.
On this episode, we discuss in-depth about how David’s weekly market commentaries (which he has written since 2008 and attracts 15,000 weekly viewers throughout weblog, podcast, and video codecs) familiarize readers along with his agency’s funding strategy and put it top-of-mind when they’re prepared to hunt out a monetary advisor, how David has written a number of books on markets and his different passions that not solely have educated readers on his views on these points but in addition have led to many tv appearances which have expanded his attain additional, and the way being public along with his opinions on divisive subjects has allowed David to reveal competence and likeability, attracting to his agency each like-minded customers and a few who may disagree with him however recognize his willingness to be candid.
We additionally discuss how David’s transition from specializing in each enterprise growth and shopper service to spend a lot of his time on content material creation (decreasing his shopper rely from 180 to twenty within the course of) has led to explosive asset and shopper development in his agency through the previous a number of years, why David focuses on hiring advisors with expertise in monetary planning and relationship administration (moderately than prospecting, given the strong lead pipeline his content material generates), and the way David has applied a pay mannequin that gives advisors a base wage of their early years whereas offering for vital revenue upside by revenue-based compensation (and a path to partnership) as they serve extra (and higher-net-worth) shoppers over time.
And make sure to take heed to the tip, the place David shares why he determined to include tax preparation into his agency not as a revenue middle however moderately as a technique to supply a complete monetary providers providing for shoppers (serving to the agency shut extra prospects and preserve increased shopper satisfaction within the course of), how David has discovered success opening places of work situated away from coastal inhabitants facilities (not solely to draw shoppers in these cities but in addition to reveal that they’re a really nationwide agency), and the way David, after rising a profitable agency, is now targeted on alternatives for his agency’s advisors to develop of their careers in addition to the last word stewardship of his enterprise.
So, whether or not you are involved in studying about leveraging content material throughout a number of media to draw like-minded shoppers, transitioning from a lead advisor to administration function, or the choice making behind opening places of work in new areas, then we hope you get pleasure from this episode of the Monetary Advisor Success podcast, with David Bahnsen.
Learn Extra…
