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And so, that’s how this actually started was, at first, I knew I wanted to just get a deeper dive into our numbers, into our business, our process, and, so, I engaged in the CFO solutions services. And so, that was where I found the gap is that the CFO would identify all these things. Michael: Interesting. ” Right?
And you start doing the math of the staff, and you’re like, “I can hire people for less than this.” ” I’ve seen a lot of industry discussion that’s essentially, the math of it can be better on the RIA side because you just don’t have to pay for the things that you don’t need in your platform.
And one of the flyers that came out said that I did estate planning, and taxplanning, and business succession planning, and all these things I didn’t know anything about. Emily: Yeah. So, I think that when I really started to feel like the real deal was I started to take on clients that were much larger clients.
And the reason that I liked that one, because I’ve sold very few VAs in my career, but I could do the math on how that rider worked on a piece of legal paper and my calculator. So I figured, I had to hold on to the CFO role, because I also am a CPA. The math is probably the easiest part of it. Stacey: He won that prize.
Michael: Well, relative to Zoe just makes things appear on your calendar and rough math, 20 to 30 leads a month can be 6 to 9 new clients a month, and so just you’re answering your phone and Zoe is making 6 to 9 new clients a month appear. Now, for a big firm, like you said, that math can work out really quickly.
taxplanning or deeper retirement planning ) can be a way to increase client satisfaction and encourage them to be vocal advocates for the firm. And while Buffett was naturally gifted in math, he was initially scared of public speaking. But many firms will find that their client referral rates are flat.
You do the math and you’re like, “Okay, well, an advisor can handle about 100 clients, an associate advisor can help with some of those clients, you can leverage maybe an associate advisor with a couple of advisors, but there’s a capacity limit for each of the roles.” And then we look at estate planning.
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