Latest / The Perfect RIA / Crafting Unforgettable Client Experiences with Guest Dan Murphy [Episode 272]

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Crafting Unforgettable Client Experiences with Guest Dan Murphy [Episode 272] · The Perfect RIA

0:33
Dan Murphy: TPR nation, when it comes to prospecting, having a
0:36
process in place, and one that you follow, is essential. But
0:40
what impact does that process have on your prospects? What if
0:43
it set expectations for them get a glimpse of what it looks like
0:47
to be a client? What if it helped put them at ease and
0:50
allowed you to provide an exceptional experience? If
0:53
you're looking for a tried and true process, then it's time to
0:56
get Matthew Jarvis's Sleep On It Process. This process will help
1:00
prospects get answers to their critical questions and ensure
1:03
that they feel confident in their decision to hire you as
1:06
their trusted advisor. Visit theperfectria.com/sleeponit for
1:11
your exclusive access.
1:13
Matthew Jarvis: Hello everyone, and welcome to another episode
1:14
of The Perfect RIA podcast. I'm your host, Matthew Jarvis with
1:18
me today special guest Dan Murphy. Dan wears multiple hats
1:23
at Commonwealth. He is the head of wealth strategies. He's on
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their executive team, which now oversees some 120 advisors, and
1:31
he's still a practicing advisor himself. So Dan really excited
1:35
to have you on the show to talk about delivering value to
1:38
clients from really several different angles.
1:40
Dan Murphy: Yeah, absolutely happy to be here. Hopefully I
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can share something of value to those that are listening in and,
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you know, I think I'm excited to share some of the
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transformational growth that we've had in our firm, and
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hopefully give everybody a couple action items here to walk
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away with. So thanks for having me, Matt.
1:55
Matthew Jarvis: Yeah. I'm glad to have you on and I'm excited
1:57
to talk about that transformation, because, of
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course, Commonwealth is under sort of the mass mutual
2:02
umbrella, which is one of the oldest financial institutions,
2:06
at least in the United States, in the world. And I'm glad that
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we're gonna be talking about planning, because often there's
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this sort of stigma with the older firms that, hey, it's
2:13
still just product focus. It's just like the old days, like
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people are stuck in this whole mindset, yeah, as if companies
2:20
100 years refused them all but, but really, with what you're
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doing at Commonwealth, you're kind of like leading the charge.
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Let's be fee based planners. Let's provide comprehensive
2:28
planning. Let's deliver massive value. And again, you're doing
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it for your clients. You're doing it for the wealth strategy
2:34
team. You're doing it for and how many advice I said 120
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number.
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Dan Murphy: Yeah, it's been 120 fee based advisors underneath
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the firm. Yeah, to your point, I think in the, you know,
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institution that we're in the mass mutual space, and in
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general, I think change is here. I think many of us have started
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to see it, and I think this trend will only accelerate. The
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reality is, I think buying behavior now is a little
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different. I think it's focused on the experience that they're
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getting in working with advisors, clients in general, I
3:06
believe want a more personalized service than may have been there
3:10
in the past. We know technology will continue to change and
3:14
disrupt, hopefully, just enhance what we do as advisors. And
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ultimately, I think what's has and always will be important,
3:21
but is maybe even more important now is transparency and trust in
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working with advisors. And we kind of saw this change
3:30
happening in the industry and what consumers wanted, and
3:34
really tried to adapt the way that we treat our end clients.
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Because of that.
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Matthew Jarvis: Let's spot on as as we're having this discussion
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today, discussions recently, it strikes me the things that used
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to be considered like real high level value, like real add ons,
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like only these select firms were doing. It's now becoming
3:52
table stakes, right when we're talking about things like estate
3:55
planning or tax planning, or behavior management or
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comprehensive planning like these used to be the creme de la
4:01
creme add ons. But now it's, this is entry level stuff. It'll
4:05
longer like, Hey, listen, maybe on a good day, I'll talk to my
4:08
clients about their life goals. Like, if you are not having
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those in depth discussions anymore.
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Dan Murphy: Totally. There's been this evolution of financial
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planning, right? If you go back in time the dawn of it really
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started as, hey, planning is free, yeah, what that really
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meant is buy a product. The sales was free. Yeah, right. And
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then, and then we entered this, this stone age, which was
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basically like, how much can I put together in one binder and
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actually get the client to pick it up and take it home with
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them, right? Like, let's charge by the poundage reports can we
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put together. And the product was the planets up, right? What
4:44
people were selling was that as that document and that thing
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that they were buying and thinking that there was
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ultimately value in all of these different charts and graphs and
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millions of pages of numbers and data points. And what we found,
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and many others have found, is that was not what the client
5:00
wanted. It was not engaging. It didn't get them to understand
5:03
and educate and teach them the things that they wanted to know.
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And so as much as we have shifted into modern financial
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planning, the table stakes like they're up, right? Yeah. And so
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when we look at modern financial planning the way we define it
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now, it is truly focused on what our clients, goal values, that's
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that's the basis for the relationship and working with
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them. And when we believe that what the advisor is selling is
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no longer a product or it shouldn't be, it's really
5:30
confidence and goal achievement and working together in this
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relationship. And so yeah, to your point that the things that
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used to be important, or we thought was important, at least,
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charts, numbers, packaging all these different services
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together now they're just table stakes, and we've really started
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to shift towards this idea of modern financial planning being
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what clients want and what advisors should and are
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hopefully focused on. So yeah.
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Matthew Jarvis: Totally agree. Dan, I'm curious, with all the
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advisors on your team, and you have a whole spectrum of of
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newer advisors. Of advisors have been practicing for for decades.
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How are you training on these skills? Right? So one of the
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allures of the binder of paper as the financial plan is it was
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very like quantifiable. It was like type in 100 variables into
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whatever software and print out 1000 papers and and here you go,
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right? You could teach someone to do that, right? You can treat
6:21
a trained monkey to do that, but these more in depth discussions.
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How are you training your advisors on this? How are you
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cultivating this? Give us some insights here.
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Dan Murphy: Yeah, oh, man. Where to start? Where to start? We do
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have a very in depth curriculum that we take folks through. I
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guess the way I would start to answer that question is we have
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three main pillars that we tend to orient our new advisors and
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and advisors looking to shift the way that they do business
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around. One of them is mindset, which probably the biggest, and
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it's really the shift from this old way of doing things to a
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new, a different, a better way of doing things. That mindset is
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probably the biggest pillar that the second is, is operations. I
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think getting to this idea of what does modern planning and
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what does good planning look like, you have to shift the way
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that your entire practice operates around that change in
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mindset. And so, yeah, we tend to spend a lot of time a little
7:19
bit more tactically in the operational side of things. And
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the third is the platform, right? What tools and what are
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you using that the client is actually seeing throughout this
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process? And how do you how do you catch those two that one
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tends to also be a little bit more tactical in nature, but we
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really try to start Matthew and do we have the right mindset
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going into the relationship with clients and understanding what
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we're trying to do, one of the ways that we do that. Have you
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ever heard of the experience economy?
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Matthew Jarvis: The term seems familiar, but I can't, can't
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speak to it right now.
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Dan Murphy: It was this idea that there was two guys who they
7:56
were at HBS heart Harvard, back in like, the late 90s, and they
8:00
ended up writing a book called the experience economy was
8:03
Joseph pine and James Gilmore, and their theory was that
8:07
economies over time change. Give me this backstory, because I
8:11
think it's helpful to come up with your mind. Their theory was
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economies over time change and develop and consumer what they
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end up getting and valuing, also changes, right? So, years and
8:26
years ago, we're in a commodity business, right? If you had the
8:30
thing, that thing itself had value. An example of this is,
8:34
you know, coffee, sure. Okay, years and years ago, that
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commodity itself was was valuable, right? That was what
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happens. Is, over time, the economy changed. Right, so what,
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what happened next is we entered something called the goods,
8:46
economy, which we took these coffee beans we packaged them
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together, and we. and we sold them in one bundle, right? That
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became the thing that was valuable was the was the package
9:00
of coffee beans. Over time. What did we do now? We brewed those
9:03
coffee beans for folks, and you got a cup of coffee and the
9:07
service was now what is most done, it was the goods, the
9:10
commodities are now the service. Think of like your local diners
9:13
cup of coffee over time. What we what companies did is now they
9:18
grew into what we call this experience account. And what
9:21
consumers now want is more than just a brewed cup of coffee more
9:25
this coffee bean more than a package together, right? They
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want something else with that coffee. And so Starbucks is the
9:30
most classic example of Hey. They they built a whole business
9:36
around charging for the experience of that coffee bean,
9:40
right? They knew your name, they knew your birthday, the whole
9:44
environment in which you got that cup of coffee was this
9:47
calming, at least years ago, maybe not as much today. What
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was this, was this calm place where you could go and you could
9:55
hang out, and they took that coffee bean that is worth two
9:57
cents, and they were selling it for, depending on how many
10:00
things you've done, that cup of coffee, $7 right? And their
10:05
theory Pine and Gilmore is that the economy will continue to
10:09
move in this way, and if you don't adapt, if you don't
10:11
change, you're going to be left behind. And I think that's
10:15
directly relatable to how we view this industry. If you're if
10:19
you're just providing that cup of coffee as a financial
10:22
advisor, if you're just doing things quickly and efficiently,
10:25
nearly behind to somebody that is creating memorable, lasting
10:29
experiences working with clients. And so we tend to
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orient our advisors around the fact that what you're providing
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is not just service. It is not just a commodity of of
10:40
investment products or insurance products. What the consumer
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ultimately wants, and what people really value is the
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culmination of all of those things, but delivered in a way
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that is personalized to them and creates lasting, memorable
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experiences and leads them walking away saying, Wow, I
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really enjoy working with that person. They know me. There's a
11:02
memory, there's something here that is lasting, and that's
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ultimately worth paying for in that process. So we that's one
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part of how we try to coach our advisors to look at shifting
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away from maybe what they weren't doing around I'll do
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things quickly and easily into maybe it's actually better to
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engage this client in something more deeply, more thoughtfully,
11:26
time with them, building experience, versus just doing
11:29
something quickly.
11:30
Matthew Jarvis: So, yeah, that's an interesting point. And again,
11:32
to take that Starbucks analogy one step further. We've all
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heard that for, I don't know, you know, been a long time right
11:37
since Starbucks County. I grew up in the Seattle area, so we
11:39
were, you know, first members there, but the things that
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Starbucks delivered that was, that was groundbreaking the
11:45
time. But now it's kind of like I see that everywhere, every
11:48
store I go into, is that in, and I liked your comment about
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right. How is it leaving the consumer, in our case, the
11:54
client, feeling right? So if, if at one point we were trying to
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give them something, a financial plan, a life insurance policy
12:01
and annuity, or whatever it was, and now I want them to
12:03
experience a certain way. I was training with my team this
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morning. We have a client coming in. Client coming in tomorrow,
12:07
doing a mini surge. She was recently widowed, and so I'm
12:10
working with my team, and they're running through all the
12:12
technical things. And I said, Alright, guys, at the end of the
12:14
day, like, how does this meeting need to go down? And they said,
12:17
we have all these things to get over. I said, No, no, we really
12:19
don't have anything we need to get over or go over with the
12:22
client, except that Is she okay in a financial situation. In
12:26
other words, this client recently lost her husband, and
12:28
say, Hey, listen, there's a lot of things we can go over. The
12:31
only thing we have to go over today is that you have enough
12:33
cash in the bank so you're sleeping well at night. And if
12:35
that's okay, all of the rest of this can wait. Because, Dan, to
12:39
your point, the feeling I want her to have is we've got this
12:42
under control, not how are we going to optimize your tax
12:45
situation in the next seven days? The feeling is, I want her
12:47
to leave my office and say, every time I go and meet with
12:50
Matt, I feel like things are under control. I feel like I'm
12:53
hurt. I feel like I'm in a safe space all those things. Yes, we
12:57
need to get to all this technical stuff. But it comes
12:59
after, comes after the feelings. It's not like it doesn't proceed
13:02
it. Okay? It really comes after it.
13:04
Dan Murphy: Yeah. And that, I think, is also the difference as
13:07
we, as we talk about where financial planning goes, between
13:10
what technology or AI will do on its own and AI will give you all
13:15
the best service, right eventually, maybe all the right
13:18
technical answers, but what it won't give you is that
13:22
connection with another person, that empathy of really
13:25
understanding them and where they're at, and that's
13:28
ultimately what they're going to value. To your point is, does
13:30
this person know me? Do they understand me, and do they feel
13:33
for me? Do they emphasize with me? And that that is, I think
13:37
the future of financial planning is moving more and more in that
13:40
direction. Then let me give you the right answer as quickly as
13:43
possible.
13:44
Matthew Jarvis: I'd be curious. Dan, under experience, you and I
13:46
both work with a lot of advisors. As you kind of say
13:48
that as I'm reflecting advisors that I consider to be the
13:51
absolute best at their craft as measured by the number of
13:55
clients they're able to help. And it's really the ones that
13:57
hold the most space for clients. They're like, they're the most
14:00
empathetic, they have the most yes, they're incredibly smart on
14:03
a technical side, but in my experience, they're not the ones
14:06
with this whole alphabet soup of designations behind their name.
14:08
They're not the ones that have been to a bunch of advanced
14:11
degrees. They're ones that can sit in the room with a client,
14:14
even the most curmudgeon of a client, or whatever, and they
14:16
can get to the heart of the heart of the heart of the heart
14:18
of the issue like they were opening a lock right and these
14:22
kind of the advisors that have clients are absolute raving fans
14:25
that have a waiting list to come see them, who are getting
14:27
referrals, referral and they got a new designation. It's like
14:31
they really know how to get into somebody's soul, to your point,
14:34
AI or computers in general. They will eventually know everything
14:37
that we know. They're not even that far away, by the way. What
14:40
they won't yet be able to do is, how do we have that
14:41
conversation? How do I sit across from a widow and say,
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Hey, what are you most worried about right now? I don't, I
14:47
don't care the computer spending. Like, what's what's
14:49
top I understand, has your experience been different? Or
14:51
what nuances would you add to that?
14:53
Dan Murphy: Well, I think it all comes down to asking good
14:55
questions. Yeah, when we, when we get into this industry,
14:59
sometimes, sometimes it's the newest of us ask the best
15:03
questions, because they're genuinely curious, and they just
15:06
are seeking to understand, because they actually don't
15:08
know. We teach this all the time. This is something I
15:11
learned in going through the Sandler system, which is there's
15:14
this thing called the dummy curve. When you're new, when you
15:17
actually don't understand something, you tend to ask
15:20
really good questions because you legitimately do not know,
15:23
and so you're just, you're curious. You're seeking to
15:25
understand, what would it look like if you what would it look
15:29
like you did this? Kelly, can you help me understand that? A
15:31
little bit very open ended questions with general premise,
15:35
I just want to know what you're thinking. Help me understand
15:37
that. And then what happens is, as you get a little bit of
15:40
experience, you tend to think you know all the answers, and
15:43
it's very much an answer. First type of response that I think
15:47
advisors get conditioned to giving, they have to feel like
15:50
I'm the expert. Let me share this as quickly as possible,
15:53
right? So in that scenario, it's like, you're all the things that
15:56
you need to do after you lost your husband, and you're like,
15:59
Whoa, whoa, whoa, whoa. I think because they need to prove that
16:03
they're the expert, right? And I think a lot of people get
16:05
trapped and what, what the dummy curve actually says is the true
16:08
expert X facts, very similar to the new unknown dummy, but
16:14
they're way more intentional about it. So I think it just
16:17
comes down to asking good questions and really trying to
16:20
understand what somebody is truly concerned about, or really
16:24
seeking to know, and that comes from I need to know what they're
16:27
really feeling questions and clarify and get to the root of
16:32
what it is that they're bothered or that that's going on with
16:35
them before rushing to give them an answer to something. And
16:38
that's what I've seen really good advisors do time and time
16:41
again, is they probably know the answer, but they're not going to
16:44
get dividend. So they they know exactly what somebody is really
16:48
asking Den is really good point, right? I mean, we can almost
16:51
guarantee they know the answer, right at some point
16:53
Matthew Jarvis: Well, I think it all comes down to asking good
16:54
questions down that that experience curve, the dummy
16:55
curve, like you've seen this question so many times, I've met
16:57
with so many widows, I could probably tell you what her next
17:00
seven questions are. But I still to your point, I've got to come
17:03
in with so much curiosity, right? Because, again, to your
17:06
point, it's not the it's not really the answer, it's, it's
17:08
the question and then the intention behind the question,
17:11
right? I might even just know the questions to ask, but if I
17:13
can't come in there with curiosity and really pull those
17:16
out, like, Hey, listen, what's really on your mind here? Like,
17:19
what's weighing your soul? Like, what's the one thing we need to
17:22
figure out today that can't just be a throwaway question, right?
17:25
Like, a risk tolerance question, or, like, if the market goes
17:27
down 20% options A through C, like, I got to really get in
17:31
there and know what's going on with them. Yeah, totally,
17:34
totally. Dan, how about So you mentioned with advisors on
17:37
different perspectives of this, this dummy curve, right? Which
17:39
is kind of a fun, a fun angle. Sometimes I feel like a big
17:42
dummy on things. How do you cultivate that? And I guess I'm
17:45
gonna tie this to the mindset as well. So we start at the top of
17:49
the dummy curve. We acknowledge we don't really know anything
17:51
we're asking. Like, just these are sincere questions. We don't
17:53
know what to ask, but at some point it seems like it can
17:55
always translate into being callous. Like, hey, listen, I
17:58
know how this industry works. I know how to ask these questions.
18:01
Like, how do you help that mind shift to get back to the curious
18:03
spot again, either for yourself or with the advisors that you're
18:06
working with, right? Because you come from an industry that you
18:08
mentioned this, you shifted from buy a product, and then we
18:11
shifted to sell a plan to now we're like, at this deeper
18:14
level, these are, these are big changes,
18:16
Dan Murphy: Yeah, totally, totally. I think there's two.
18:18
There's, I mean, there's probably a bunch of different
18:19
answers for sure, to that question, right? I think part of
18:22
it is remembering why we're in this business, and ultimately
18:26
it's a service businesses. But what we tell our advisors, we
18:29
are going to help and and we get, we do get paid very well to
18:35
do that, yeah, but that means having to be deeply present and
18:38
deeply caring in those conversations with your clients.
18:41
That's, that's the very definition of what we're doing
18:44
as advisors and being advocates for people is is doing that for
18:48
them. And so I think part of it is really trying to remember
18:51
that, and having that be present as we as we work with folks. You
18:54
can't be in this business for the wrong reasons, ultimately,
18:57
otherwise, it's not going to work out in the long run for
18:59
you. And you know, I think the other one, the other one that
19:02
comes to mind for me, Matthew is is going back to this idea of
19:06
what it is that we're trying to do with folks, is build build
19:10
experiences versus service, right? So another analogy that I
19:14
that I give people all the time is, if you're going out for
19:17
sushi and you're going to you know that the sushi restaurant
19:20
in the mall, or the sushi restaurant in the strip mall
19:23
around the corner from you, the menu that you get is there's
19:27
probably, like, 3000 things on the menu, A, one, b2, like,
19:32
check these things off and giving it to them, and they're
19:35
pumping it out as quickly as possible. But if you ever go to
19:38
a really high end sushi restaurant, there's probably no
19:41
menu, and you are there for hours just trying things and
19:46
being patient and enjoying the experience. And that's what we
19:50
have to do with our clients. We need to act more like a high end
19:54
sushi restaurant than the one that you pick and choose from
19:58
the 3000 different options that are out there. And so I think
20:01
part of it is having that patience is you're trying to
20:03
build experience with people is rushing things doesn't lead to
20:07
the ideal result.
20:08
Matthew Jarvis: Yeah, it requires such a high level of
20:10
intentionality, right? You mentioned the sushi example, and
20:13
that applies to any high level experience, right? Because
20:15
everything is either adding or detracting from the experience
20:19
of the clients having, whether it's again, in our offices or
20:22
the sushi restaurant anywhere else like I came into my office
20:24
this morning and I noticed that the candy dish had no candy in
20:27
it. Okay, well, that seems like a non issue, just a little bit,
20:30
but that's great, an experience saying, Hey, we're not
20:32
intentional enough to refill the candy dish. Where else are we
20:35
not being intentional? So we had a discussion with the team like,
20:37
hey, this seems like a non issue. Why were they not
20:40
lifesavers again? Like, it seems like a non issue. It is, in
20:43
fact, an issue. The chairs not being straight, and lobby, all
20:46
these things, how I hold my pen when I'm talking, how I'm seated
20:49
at the desk, my zoom camera looks all these things are
20:51
building that experience. And so I love, Dan, your highlight on,
20:54
hey, we're really at this stage in the industry's evolution.
20:57
We're creating experiences. And either your experience is a
21:00
positive one for the client, or it's gonna be one that's gonna
21:02
leave them looking for a better experience somewhere else.
21:05
Dan Murphy: Totally, totally it's creating time well spent.
21:08
It is, I think, is what we're really trying to do with folks,
21:11
and we want them to look back and say, Wow, I really enjoyed
21:14
my time with with Matthew, with Dan. That whole thing was
21:17
crafted to me, and that was totally worth it. The financial
21:22
advice is table stakes, like you can't do this and not be able to
21:26
understand, you know what? What is good advice versus bad
21:29
advice? But when you think about things that go into crafting
21:32
that experience with folks, that's what really helps us
21:36
maintain relationships, grow relationships, retain clients
21:40
over the long run. And I think more and more we need to shift
21:42
in that direction to continue to do. So, yeah, that's a good way
21:46
that I try to summarize it for people is, did the client feel
21:49
like that was time well spent?
21:50
Matthew Jarvis: Yeah, yeah, which is sometimes tricky to
21:52
know, because right, the client may not necessarily consciously
21:55
register it, but we've got to be real intentional there. Well,
21:58
Dan, let's talk about some some actions, because this podcast
22:01
is, of course, all about taking action. And so let's kind of
22:04
noodle for a second on things that advisors can do. And I want
22:06
to pull want to pull on your we'll use either coffee or the
22:09
restaurant. Example, whichever one your fanciest a nice
22:11
restaurant or nice coffee. Let's go with restaurant, because I
22:14
enjoyed nice restaurants. You know, go to take Your Spouse To,
22:17
like the nicest the sushi place or nicest steakhouse in town.
22:20
Note that experience, and then go to like the diviest one. Now
22:23
be careful don't get food poisoning if you call Dan and I
22:25
that you went to like the strip mall sushi strip mall sushi and
22:27
you got sick, I can't help you there, but make a list like 10
22:29
or 15 different things that are different in that one experience
22:33
versus the other. There's the location, is it the lighting? Is
22:36
it the menu? Is it the quality of the chopsticks? Is it the
22:39
napkins? Is it how the plates are set? These things all make a
22:42
difference. It's why one can charge $200 a plate, and one
22:45
can't charge $20 a plate, and then go back to your office and
22:48
apply that same thing, right? Do I have the equivalent of cheap
22:51
chopsticks in my office? Is that creating a non ideal experience?
22:55
Dan, be curious, what else comes to mind for you, for actions
22:57
people can take?
22:58
Dan Murphy: Yeah, totally. That's a good one. I would add
23:00
that. I would add to that just a little bit, even when you, when
23:04
you think about it. It's not just the visit to the
23:07
restaurant, right? It's what happens before you step in
23:10
there, what happens after you and so really, an experience is
23:13
often made in some of the anticipation and some of the
23:16
exiting of it, the post event. What continues to drive that
23:20
feeling is not just, you know, the thing itself, but what
23:23
happens before and after. And so we spent a lot of time focused
23:26
on focused on that.
23:27
Matthew Jarvis: Yeah, definitely, does he have funny
23:29
note on that? So I live in Las Vegas. The hands down, best
23:31
Steakhouse in Las Vegas is a place called the Golden steer.
23:34
It's not on the strip, it's just off the strip. And it takes
23:37
three months to get a reservation there, three months.
23:39
And so to your point, that creates this experience like,
23:41
Wait a second. I gotta wait three I can get any I go to Jeff
23:44
Gordon Ramsay restaurant tonight. If I want in Vegas, I
23:46
go to all nine above one. If I want it the golden steer, I have
23:49
to wait three months to get a reservation there. What the heck
23:52
is going on here? Like just that alone creates its own, its own
23:55
experience, and we see that with advisors, right? They'll send
23:57
out their Calendly link, and it will have 10 slots a day open
24:00
every day for the next three months. That's created an
24:02
experience of, why isn't anybody else want to see this guy,
24:05
right? So there's, there's so many pieces there. Yeah? One one
24:08
more. Yeah, please. Tactical action item
24:10
Dan Murphy: One one more. Yeah, please. Tactical action item we,
24:12
um, yes. What we do in order to use technology to make this a
24:16
little bit easier is, yeah, not dissimilar from the way that you
24:19
do value adds on a quarterly basis. We have something that we
24:23
call the financial planning experience platform. We're
24:26
talking about those three pillars, yeah, this fits in this
24:29
platform bucket. We actually deliver something out to clients
24:33
on a quarterly basis that is educational and interactive.
24:36
Think of it as is. It's kind of like a fancy newsletter, yeah,
24:39
but it's a way for us to give people four topics for them to
24:43
think about around their planning and directly click in
24:46
there and schedule time with us to talk about any of those that
24:49
are important or urgent. We give them topics to read about. Well,
24:53
by the way, we segment these out into four different quarterly
24:57
themes. We give them topics to read about. We give them a book
25:00
to read once a quarter, and we give them videos to watch every
25:04
quarter. And so this is our way of making some of the financial
25:07
planning a little bit more actionable to clients. Is
25:10
literally hit them with something once a quarter that
25:13
gives them these conversations, a book to read, articles to read
25:17
and videos to watch. Not just around financial planning, some
25:20
of them are being mindset focused. And then we'll hit them
25:23
with with basically reminders throughout the corner of some of
25:27
the content that is given to them. And we found that the
25:30
engagement in these is it's another touch point that we're
25:33
trying to continue to embrace. That idea of planning is not a
25:37
one time event, it's a continual process. And this is another way
25:40
to give them multiple different ways to engage with us, either
25:44
picking that book of the quarter, clicking to talk,
25:47
reading or watching so trying to hit a couple different learning
25:50
spectrums for clients on that side of it. So I love that. I
25:54
think part of building that out that experience is not just the
25:57
client meetings, what happens before and after, but what does
26:01
that touch what are those touch points throughout the year? And
26:04
how are you staying proactive in that inside your practice?
26:08
Matthew Jarvis: Yeah, you can't just be waiting. This goes back
26:11
to the evolution industry, right? It used to be you could
26:15
wait for clients to call you, and you could call them once a
26:19
year and see if they wanted to come in and chat with you. And
26:23
those days are, those days are gone, right? Because, again, any
26:27
robo advisor, the fidelity office, they can all do that.
26:31
You've got to be next level. You got to go above and beyond.
26:35
Well, Dan, hey, thank you so much for your time today. Thanks
26:39
for pulling back the curtain and give us some insight on colors
26:43
of mindset, operation and platform and kind of the
26:46
evolution right from this sort of caveman, cave woman buy this
26:50
product to this binder of financial plans to Hey, what
26:54
experience are we creating? So for all of our listeners, watch
26:58
that experience in your own office and until next time,
27:02
Happy Planet, today's episode is brought to you by growth, not
27:06
just anyone's growth, but your growth, more specifically, the
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growth of your net income. That's right, the money that
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family, growing your net revenue, doubling it in the next
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12 to 36 months. Now why that range? That is the range where
27:26
Micah and I have both in our own practices and in hundreds of
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advice we've coached, been able to double their net revenue.
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That's a bold claim, but it's backed by a lot of experience
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