Latest / Only Fee-Only / #167 - 100 Great Clients: Building the Practice You Actually Want - Andrew Damcevski

Transcript

#167 - 100 Great Clients: Building the Practice You Actually Want - Andrew Damcevski · Only Fee-Only

• 0:04
  SPEAKER_01: What's up everyone?
• 0:05
  SPEAKER_01: Welcome back to the OnlyFeoly podcast.
• 0:08
  SPEAKER_01: In this episode, we sit down with Andrew Damsewski, founder of AJD Wealth Management in Cincinnati.
• 0:15
  SPEAKER_01: He shares his journey from starting at a big insurance firm to building his own Fiona firm and tells us what he learned along the way, why he ultimately chose to build a boutique lifestyle practice, focusing on fewer clients and deeper relationships.
• 0:30
  SPEAKER_01: We also get into entrepreneurship, work-life balance, growing a firm, and some of the real-world financial planning challenges Andrew helps his clients navigate.
• 0:39
  SPEAKER_01: So, this was a fantastic episode.
• 0:42
  SPEAKER_01: Enjoy this episode of the Only Fee Only Podcast with Andrew Damzewski.
• 0:48
  SPEAKER_00: Hey, how's it going, everyone?
• 0:49
  SPEAKER_00: Welcome to another episode of the Only Fee Only Podcast.
• 0:53
  SPEAKER_00: I'm Peter Travolo.
• 0:54
  SPEAKER_00: I'm here with my co-host Brock Buckles, and today we're very excited to have Andrew Damzewski on.
• 1:00
  SPEAKER_00: He's the founder of AJD Wealth Management, and he joins us from Cincinnati, Ohio.
• 1:04
  SPEAKER_00: Andrew, welcome to the show, man.
• 1:06
  SPEAKER_02: Yeah, thanks.
• 1:07
  SPEAKER_00: I'm uh really excited to be here.
• 1:10
  SPEAKER_00: Likewise, man.
• 1:11
  SPEAKER_00: I'm really excited.
• 1:12
  SPEAKER_00: I know we have a lot of common stuff, especially with Northwestern Mutual.
• 1:15
  SPEAKER_00: And it also looks like you're a Sigma Kai as well.
• 1:19
  SPEAKER_00: Yeah.
• 1:20
  SPEAKER_00: I love it.
• 1:21
  SPEAKER_00: We actually both are too.
• 1:23
  SPEAKER_00: Um so we'll have a lot of fun today.
• 1:26
  SPEAKER_00: Um so let's uh let yourself, you know, introduce yourself, who you are, kind of who you're serving, and we can jump into things.
• 1:34
  SPEAKER_02: Yeah, so um Andrew Damsewski, uh founder of AJD Wealth Management.
• 1:42
  SPEAKER_02: Um went to the University of Cincinnati, was a Sig Macai there.
• 1:46
  SPEAKER_02: And um I've been in the industry since 2013, uh, started with Northwestern Mutual, so kind of on the more the commission side of the business, selling insurance, mutual funds, annuities, uh, made the jump to fee-only planning in 2017.
• 2:06
  SPEAKER_02: Uh, that's also the year that I got my CFP.
• 2:09
  SPEAKER_02: Um so yeah, now uh fee only, really with a focus on working with pre-retirees and folks that are already in retirement.
• 2:19
  SPEAKER_02: So uh if you want to put an age to it, call it 45 and up is kind of my sweet spot.
• 2:26
  SPEAKER_02: Um, and yeah, just helping them with you know really comprehensive planning and investment management.
• 2:32
  SPEAKER_01: Very cool, man.
• 2:33
  SPEAKER_01: Well, first of all, in hook.
• 2:35
  SPEAKER_01: Uh and and then beyond that, man, that's really cool.
• 2:39
  SPEAKER_01: Yeah, so we always, you know, we could touch on it for a second.
• 2:41
  SPEAKER_01: Obviously, uh started out kind of on the insurance side at Northwestern.
• 2:45
  SPEAKER_01: Like, what was kind of your initial thoughts or like introduction?
• 2:49
  SPEAKER_01: Obviously, you were there for four years, so made it a lot longer than a lot of people do.
• 2:53
  SPEAKER_01: Um, but like kind of you know, thoughts on getting into the industry that way.
• 2:57
  SPEAKER_01: I know it's something that a lot of people do, so it's very relatable.
• 3:00
  SPEAKER_01: Um, but but kind of thoughts on that, and then I guess transitioning out of that, if you don't mind.
• 3:06
  SPEAKER_02: Yeah, I mean, it's everyone has to start somewhere.
• 3:10
  SPEAKER_02: And I feel like so many people that are in this business either start on the insurance side or more like the warehouse side.
• 3:17
  SPEAKER_02: Um, and I feel like in both of those, you're gonna be cold calling and just hammering the phones, trying to get meetings.
• 3:25
  SPEAKER_02: Um, I knew that I wanted to be a financial advisor from like high school, you know, so it's what I studied in college, it's what I was focused on becoming.
• 3:34
  SPEAKER_02: So when I started at Northwestern, um, I was like, I have to make this work.
• 3:39
  SPEAKER_02: Like, I see a ton of people coming in and out, they're failing.
• 3:42
  SPEAKER_02: I was like, I can't let that be me.
• 3:44
  SPEAKER_02: Like, I just need to make this work, right?
• 3:46
  SPEAKER_02: If if I have referrals, I'll call them.
• 3:49
  SPEAKER_02: If I don't, I'm cold calling.
• 3:52
  SPEAKER_02: Um, I was like, I have to make this work.
• 3:54
  SPEAKER_02: And so I ended up being there for four years.
• 3:56
  SPEAKER_02: Um near the end, I was kind of getting more exposed to what fee-only planning is.
• 4:03
  SPEAKER_02: Um, I had heard of it, but what we thought about it then was, you know, fee only planners, uh, they don't implement, right?
• 4:10
  SPEAKER_02: They build a plan, they show it to you, then they walk away, and that's it.
• 4:14
  SPEAKER_02: Um, and after looking into it more, I was like, that can't be further from the truth.
• 4:18
  SPEAKER_02: Uh the fee only planners, they are implementing, uh, they are doing great work, but they're getting paid for putting together the financial plan.
• 4:26
  SPEAKER_02: And I really liked that.
• 4:27
  SPEAKER_02: Um, I didn't like putting together plans for free and then trying to sell something to earn a commission to get paid for the work.
• 4:35
  SPEAKER_02: So I was really, really attracted to fee only planning once once I had learned more about it.
• 4:40
  SPEAKER_02: Um, and then pretty soon after made the jump.
• 4:43
  SPEAKER_02: Again, that was back in 2017.
• 4:46
  SPEAKER_00: Classic.
• 4:47
  SPEAKER_00: Um, and then let's you know, before we jump into the fee-only space, kind of maybe what were some good things you learned in the insurance space?
• 4:53
  SPEAKER_00: Maybe some sales items or things that now you look back, having started your own firm, you're like, man, I'm glad I had those experiences early on.
• 5:02
  SPEAKER_00: Yeah.
• 5:02
  SPEAKER_02: Honestly, soft skills development it is amazing.
• 5:07
  SPEAKER_02: You know, being able to pick up the phone and call someone, talk to someone who is, you know, decades older than you, and to uh try to build trust, build rapport quickly.
• 5:18
  SPEAKER_02: Um, I don't think those are skills that I could have picked up if I just started somewhere like as an associate, taking notes and then kind of work my way up through a firm, uh, kind of being thrown into it day one.
• 5:31
  SPEAKER_02: It's a sink or swim kind of place.
• 5:33
  SPEAKER_02: And uh the sales training, in my opinion, there was feels great.
• 5:37
  SPEAKER_02: So uh thankful for that.
• 5:39
  SPEAKER_01: Yeah.
• 5:40
  SPEAKER_01: I mean, listen, at the end of the day, man, like if you can be taught grit and you can get out there and you can do it, you already have the mentality that like I I'm gonna do what it takes to be successful in this, right?
• 5:51
  SPEAKER_01: Like, obviously, it's nice when you start to grow and you get clients, and then it's like nice warm referrals, and people are introducing you to their friends, but no one starts out like that, right?
• 6:01
  SPEAKER_01: And so it's it's it's a nice thing, but it is kind of like baptism by fire to an extent when you're when you're in a role like that.
• 6:08
  SPEAKER_01: Um, so what was kind of like you know, your first introduction into Fe Only and like the first kind of firm and and and what did that look like for you?
• 6:17
  SPEAKER_02: Yeah, the first uh intro to Fee Only was actually uh me and a friend.
• 6:23
  SPEAKER_02: Uh, we were at Northwestern Mutual together, and just you know, after work, we would get together and kind of complain about things that we weren't happy about.
• 6:33
  SPEAKER_02: And uh we we heard about the XY Planning Network.
• 6:36
  SPEAKER_02: We started to learn more about fee only and what those advisors are doing.
• 6:42
  SPEAKER_02: Uh so we made the jump.
• 6:44
  SPEAKER_02: We left Northwestern and we started up our own firm in 2017.
• 6:48
  SPEAKER_02: And our goal was hey, let's do fee-on financial planning, let's charge money uh to do financial planning and let's manage money for a fee as well.
• 6:58
  SPEAKER_02: Um and let's do all of this without having an asset minimum.
• 7:03
  SPEAKER_02: Uh, because at that time, a lot of the fee-only firms were kind of your smaller boutique firms, usually$1 million asset minimum, maybe$500,000.
• 7:14
  SPEAKER_02: Um, XYPN was around, but not as big as it is today.
• 7:20
  SPEAKER_02: So uh to find firms that could do fee only planning with no asset minimum, that was kind of our unique value proposition.
• 7:28
  SPEAKER_02: Um, but yeah, that was kind of the first jump into the fee only side.
• 7:32
  SPEAKER_02: And then um after after starting that, we got acquired by a larger fee-only firm in Cincinnati and uh ended up spending the next six years there.
• 7:43
  SPEAKER_02: And then I left in 2023 to uh now start AJD wealth management.
• 7:49
  SPEAKER_02: So still a fee-only firm.
• 7:51
  SPEAKER_02: Uh focus is to you know work with kind of a smaller number of clients, but provide that really boutique level of service.
• 8:01
  SPEAKER_00: And are you set up on the XY chassis again, or what's that kind of look like this way around?
• 8:06
  SPEAKER_02: Yep.
• 8:06
  SPEAKER_02: So joined XY again.
• 8:08
  SPEAKER_02: So uh we used them the first time, and then I used them here back in 2023 as well.
• 8:13
  SPEAKER_02: Um, it's just a great platform for setting up your firm, making sure you're doing it the right way, staying compliant.
• 8:21
  SPEAKER_02: Um, and then a lot of the discounts that you get from a tech stack perspective are are excellent as well.
• 8:28
  SPEAKER_01: Yeah, no, that that's definitely nice.
• 8:31
  SPEAKER_01: Um, and what has it kind of been like?
• 8:32
  SPEAKER_01: Obviously, like there's different vibes being at different firms and getting acquired and like all of that.
• 8:37
  SPEAKER_01: Now you're kind of back to doing your own thing.
• 8:39
  SPEAKER_01: Like, what has kind of that journey been like, man?
• 8:43
  SPEAKER_02: Yeah, it's it's been great.
• 8:45
  SPEAKER_02: I mean, as I as I'm thinking about you know what I want my firm to look like, um, it's really just saying, hey, I want this to be that lifestyle practice, right?
• 8:56
  SPEAKER_02: I want to work with 100 great clients that I love seeing, I love spending time with.
• 9:04
  SPEAKER_02: Um, and I want to be, you know, their money guy.
• 9:07
  SPEAKER_02: Like when they're thinking about finance or they're talking to people about money, um, I want them to think about me and be like, yeah, yeah, we're set.
• 9:15
  SPEAKER_02: We have a great person on our team taking care of all of all of this for us.
• 9:21
  SPEAKER_02: So um, you know, at Northwestern, like you guys know, it's just a ton of activity trying to get a lot of clients.
• 9:27
  SPEAKER_02: Um, at the fee-only firm I was with, we were growing really, really fast and we were doing great work.
• 9:34
  SPEAKER_02: Um, but I just wanted something different for myself.
• 9:37
  SPEAKER_02: Again, I wanted that kind of smaller client base, more frequent meetings with my clients, better relationships.
• 9:44
  SPEAKER_02: Um, if you've seen the movie Jerry McGuire, I kind of compare it to that.
• 9:48
  SPEAKER_02: Like, I just want fewer clients, better service.
• 9:50
  SPEAKER_01: Yeah, yeah, yeah.
• 9:51
  SPEAKER_01: Show me the money.
• 9:52
  SPEAKER_01: That's right.
• 9:53
  SPEAKER_02: That's right.
• 9:54
  SPEAKER_01: No, that's cool, man.
• 9:56
  SPEAKER_01: Um, and I mean, so what is kind of like what do you like doing day to day?
• 10:01
  SPEAKER_01: Because I feel like a lot of times we have these conversations with people and they're like, you know, it's great, but there are some things I enjoy more than others, right?
• 10:09
  SPEAKER_01: Like some people actually enjoy the client meeting, some people enjoy um the actual behind-the-scenes planning.
• 10:14
  SPEAKER_01: I don't know if anybody enjoys compliance.
• 10:17
  SPEAKER_01: Uh, I'm gonna say probably not, but uh, what are kind of like your favorite things to do day to day?
• 10:22
  SPEAKER_01: And then what are those things that you're like, not my favorite thing, you know, as far as owning a business and being a planner?
• 10:28
  SPEAKER_02: Yeah, yeah.
• 10:29
  SPEAKER_02: I mean, my favorite thing is meeting with my clients.
• 10:34
  SPEAKER_02: Like when I have when I see the meetings on the calendar, um I'm excited for them and I love that, right?
• 10:41
  SPEAKER_02: Like I never want that to go away.
• 10:43
  SPEAKER_02: And um, you know, probably the part that I care the least for, right?
• 10:49
  SPEAKER_02: Like outside of the obvious ones, like compliance, um is probably just some of like the like the organization, like the CRM maintenance, just kind of making sure things are all running correctly.
• 11:04
  SPEAKER_02: Yeah, you know, that I'm uh more more interested in being with people and talking to people than I am just kind of being being locked in my CRM for a couple hours cleaning it up.
• 11:16
  SPEAKER_02: Totally.
• 11:17
  SPEAKER_00: Yeah, so having experience building a few different firms, kind of what's been the marketing strategy with this firm?
• 11:23
  SPEAKER_02: Yeah.
• 11:24
  SPEAKER_00: Um, I know you want to say boutique, so how do you kind of find those ideal clients and what's that look like?
• 11:30
  SPEAKER_02: Yeah, it's it's really been just uh keeping my promise on hey, this will be a really good experience for you.
• 11:38
  SPEAKER_02: You know, we're going to have multiple structured meetings each year, right?
• 11:43
  SPEAKER_02: Like this is not going to be the experience where you get a bonus, uh, I don't know about it, and then you reach out to me three months later and say, hey, I got a bonus last quarter.
• 11:54
  SPEAKER_02: It's money's just sitting in my checking account.
• 11:56
  SPEAKER_02: Let's do something with it.
• 11:58
  SPEAKER_02: Like I know when the bonuses are coming, so I can reach out and say, Hey, you have a bonus coming this month.
• 12:04
  SPEAKER_02: What's the plan for it?
• 12:05
  SPEAKER_02: Right.
• 12:06
  SPEAKER_02: And just being able to be really proactive with my clients, have those meetings, build those relationships, that's now turning into referrals.
• 12:16
  SPEAKER_02: Um, and you know letting my clients know kind of what my ideal client is, um, it's leading to, you know, referrals of my ideal clients, which is great.
• 12:28
  SPEAKER_02: So that's kind of the marketing now is just, hey, um, do good work, build those relationships, and you know, the referrals are now coming.
• 12:38
  SPEAKER_01: Yeah.
• 12:39
  SPEAKER_01: It's a good problem to have, right?
• 12:41
  SPEAKER_01: Like I always say when you're starting a business, there's there's there's like not so fun problems, and then there's good problems.
• 12:47
  SPEAKER_01: Not so fun problems are like, we're starting from scratch, we have to figure this out.
• 12:52
  SPEAKER_01: Like I remember Peter and I looking back like across from each other, sitting at a table in a laundry room.
• 12:58
  SPEAKER_01: Literally, that was the first uh location of BC Brokerage and just being like, what are we doing, man?
• 13:04
  SPEAKER_01: Like, how are we gonna do this?
• 13:06
  SPEAKER_01: How are we gonna take this thing to market?
• 13:07
  SPEAKER_01: Like, what is this gonna look like?
• 13:09
  SPEAKER_01: Um, and now it's more like, man, we're growing.
• 13:12
  SPEAKER_01: How do we continue to adapt?
• 13:13
  SPEAKER_01: Who are the right people that we need to be hiring?
• 13:15
  SPEAKER_01: What's the next step?
• 13:16
  SPEAKER_01: Those are the good problems, right?
• 13:18
  SPEAKER_01: And so uh it's nice when your life is filled up with more of the good problems than the bad problems.
• 13:23
  SPEAKER_02: Yeah, and you know, I feel like I'm there, right?
• 13:26
  SPEAKER_02: Like getting the tech stack figured out, kind of like getting over that initial hump of like, will this business work?
• 13:33
  SPEAKER_02: Like, we're we're we're past that now, which is great.
• 13:36
  SPEAKER_02: And now it's okay, how do we actually like perfect this to make it truly what I want it to be and have it be this great experience um for the client?
• 13:48
  SPEAKER_02: So yeah, they're they're definitely good problems to have.
• 13:51
  SPEAKER_00: Yeah, yeah.
• 13:52
  SPEAKER_00: So are you a solo shop or do you think you're eventually gonna add like maybe an admin to help you out?
• 13:57
  SPEAKER_00: What's that kind of look like for you?
• 13:59
  SPEAKER_02: Yeah, so solo, solo shop right now, and uh that's the plan for now is to keep it that way.
• 14:05
  SPEAKER_02: You know, solo again, I want to have 100 great clients.
• 14:10
  SPEAKER_02: Um, if I did have an employee, it would be something like an admin.
• 14:17
  SPEAKER_02: Uh, but at this point, no interest really in adding on other advisors or building out like an ensemble.
• 14:24
  SPEAKER_02: Um, yeah, the the goal at this point is more of that lifestyle practice.
• 14:30
  SPEAKER_01: Yeah, for sure.
• 14:31
  SPEAKER_01: And like having seen kind of some of the different aspects and the boutiques and like the larger firms and all of that, like I know there's a lot of people kind of sitting here listening that are probably like, man, I wonder what I want to do.
• 14:46
  SPEAKER_01: Like it would be cool to do a boutique or to, you know, get more people, but at the same time, I understand that comes with more responsibilities.
• 14:54
  SPEAKER_01: And when I started my firm, that's not really what I like set out to do, but now they're like, you know, getting an influx of calls or clients.
• 15:02
  SPEAKER_01: Like, what would you say to them since you've seen both sides of it about like the work-life balance piece and the um benefits of staying solo just for those people that are kind of on the fence about what they want to do moving forward?
• 15:15
  SPEAKER_02: Yeah, I mean, it's like you have to understand what you want out of this, right?
• 15:20
  SPEAKER_02: Like, do you want that high level of you know, like flexibility and that work-life balance?
• 15:26
  SPEAKER_02: Or like, do you want that big firm whose you know, name is well known all around town, and there's lots of people working for it, and maybe it's you know worth millions and millions of dollars, but you know, you don't probably own 100% of it anymore.
• 15:42
  SPEAKER_02: You probably needed to give up some ownership to retain good people.
• 15:46
  SPEAKER_02: So it's it's kind of all about what you want, right?
• 15:49
  SPEAKER_02: Like, I I know some firm owners who they want to build that big firm, they want the ensemble, they want multiple advisors, and they know that they'll have to give up some equity to retain those advisors, but their thought is hey, I'm gonna have a percentage of a much larger pie.
• 16:05
  SPEAKER_02: Um for me at this point, it's hey, I I still want 100% of the pie.
• 16:11
  SPEAKER_02: I don't need to have this massive firm again, where it's you know, I'm in a big building with you know the uh my logo on the building downtown.
• 16:21
  SPEAKER_02: Like I just want to have a good practice that um you know allows me to have a lot of control over my time, a lot of flexibility, um, you know, and and allows me to you know still make an impact on the clients that I'm working with.
• 16:36
  SPEAKER_02: But so yeah, just getting clarity on what on what you want for yourself.
• 16:42
  SPEAKER_01: Yeah, for sure.
• 16:44
  SPEAKER_01: And uh for those client, for those people that are out there, man, that are like haven't even started, right?
• 16:49
  SPEAKER_01: Or like are at a Charles Schwab desk or they're thinking, like, hey, I think I might want to go out and do this fee only thing.
• 16:55
  SPEAKER_01: What would you kind of tell them about because you've done the grinding, right?
• 16:58
  SPEAKER_01: Like you've done everything from the Northwestern Mutual, the cold calling, all the stuff, and they're like, man, I don't know if I'm gonna be able to make this work.
• 17:05
  SPEAKER_01: It's kind of scary.
• 17:06
  SPEAKER_01: Like, what would you tell somebody that hasn't done it yet, but they're thinking about it and they're they're interested in it?
• 17:15
  SPEAKER_02: Keep your personal expenses low, right?
• 17:18
  SPEAKER_02: I mean, I'm sure you guys saw at Northwestern.
• 17:20
  SPEAKER_02: I mean, so many people join this business and then fail out of it.
• 17:24
  SPEAKER_02: And um, oftentimes it's like they're just not making enough money to support themselves anymore.
• 17:31
  SPEAKER_02: So they have a hard decision to make, and that's hey, like I need to leave this job and go find something more stable that pays me a base salary, right?
• 17:40
  SPEAKER_02: So if you can keep your personal expenses low, have a savings account, right?
• 17:46
  SPEAKER_02: Give yourself some runway to say, hey, I'm gonna start this, and I'm not gonna make much money for one year or two years or three years, maybe.
• 17:54
  SPEAKER_02: Um, and if you can weather that storm, you know, you'll have a much better chance of success in you know being able to make this work.
• 18:03
  SPEAKER_02: So, yeah, keep keep the expenses low, live within your means.
• 18:07
  SPEAKER_02: It's always good advice.
• 18:09
  SPEAKER_00: But there's the interfinan planner, and yeah.
• 18:13
  SPEAKER_00: Um, how about um like just like pricing structure and service offering?
• 18:18
  SPEAKER_00: Kind of what's that looked like?
• 18:20
  SPEAKER_00: Have you had to change it at all to match your clients here in market?
• 18:24
  SPEAKER_02: Yeah, so um pretty simple fee structure.
• 18:28
  SPEAKER_02: Um I charge an asset-based fee.
• 18:31
  SPEAKER_02: And then um, if I'm managing less than 300,000, uh I have a monthly planning fee that I charge.
• 18:40
  SPEAKER_02: And that's kind of dependent on complexity.
• 18:43
  SPEAKER_02: Um, but the asset-based fee is 1% on the first million, and then it it uh starts to blend down.
• 18:49
  SPEAKER_02: So the second million is at 90 basis points, the third million at 80 basis points.
• 18:55
  SPEAKER_02: Um, so pretty simple uh fee structure for a fee-only firm.
• 19:00
  SPEAKER_02: And then, yeah, just that$300,000 minimum, if that's not met, uh, then there is a monthly planning fee that I charge.
• 19:08
  unknown: Okay.
• 19:08
  SPEAKER_01: Good deal, man.
• 19:09
  SPEAKER_01: And uh, if you don't mind, if you have like an example top of mind, I always like to, because it's so impactful, like the work that planners do.
• 19:16
  SPEAKER_01: It really is, it really helps people.
• 19:18
  SPEAKER_01: Um, and people that don't have an advisor or people that are thinking about doing this, sometimes they're like, Well, do I even have anything to offer?
• 19:25
  SPEAKER_01: Um, what would be like a good kind of planning story or maybe something that helped that happened recently where you're able to help a client and it really made like a big impact?
• 19:36
  SPEAKER_02: Yeah, I mean, uh thinking about one client, they are selling their home and then building a new home, right?
• 19:44
  SPEAKER_02: And uh helping them just figure out okay, uh, we're not ready to yet sell this home, but we need to start on the construction of the new home, right?
• 19:54
  SPEAKER_02: So helping them just navigate this is the size of the construction loan that we need.
• 20:01
  SPEAKER_02: This is the plan on paying that back.
• 20:04
  SPEAKER_02: And then this is kind of the timing on okay, when we're going to be selling their current home.
• 20:09
  SPEAKER_02: And all of this happening, you know, they're already in retirement, newly retired.
• 20:14
  SPEAKER_02: So coordinating their monthly withdrawals from their portfolio and just helping them kind of feel good about all the money that's moving in all the different directions, right?
• 20:24
  SPEAKER_02: They've got their monthly withdrawals coming in from their portfolio.
• 20:28
  SPEAKER_02: Um, now they've got this construction loans, they can start working on their house, and you know, they are spending some money getting their current house ready, ready to sell.
• 20:37
  SPEAKER_02: Um, so just a lot there, but just being there to help them kind of wrap their mind around it all and execute it properly.
• 20:45
  SPEAKER_02: Um, I think is like a really cool example of like, hey, like we're not just talking about stocks and bonds and like how the market's doing.
• 20:54
  SPEAKER_02: Like, yeah, we're talking like big financial decisions, you know, timing of things, making sure cash flow is okay, making sure that they're comfortable.
• 21:04
  SPEAKER_02: Um, and you know, it's just uh I think a really good example of you know some of the work that we do.
• 21:10
  SPEAKER_01: Some real life stuff there, right?
• 21:12
  SPEAKER_01: Like impact real life stuff.
• 21:15
  SPEAKER_00: Yeah, a lot of moving parts and sometimes timing too, right?
• 21:19
  SPEAKER_00: So um yeah.
• 21:21
  SPEAKER_00: Any other golden nuggets you want to share, Andrew, or anything you were thinking of sharing before coming on the podcast?
• 21:28
  SPEAKER_02: Uh no, that's I mean, I think we touched on a lot of good stuff.
• 21:35
  unknown: Yeah, for sure, man.
• 21:36
  SPEAKER_02: For sure.
• 21:37
  SPEAKER_02: I love it.
• 21:37
  SPEAKER_00: Well, for those who maybe want to learn more, um, what's your website or maybe the best way to get a hold of you?
• 21:43
  SPEAKER_02: Yeah, the website is uh just ajdwealth.com.
• 21:47
  SPEAKER_02: That's the best way to learn more about uh me, my firm, kind of the the clients that we work with, and and some of the work that that I do.
• 21:57
  SPEAKER_00: Awesome.
• 21:58
  SPEAKER_00: Well, Andrew, thank you so much for your time today.
• 22:00
  SPEAKER_00: We really appreciate it.
• 22:01
  SPEAKER_02: Yeah, thank you.
• 22:02
  SPEAKER_00: Thanks, man.