Welcome everybody! Welcome to the 452nd episode of the Monetary Advisor Success Podcast!
My visitor on at the moment’s podcast is Gabriel Shahin. Gabriel is the CEO of Falcon Wealth Planning, an RIA primarily based in Ontario, California, that oversees $1.4 billion in belongings beneath administration for 1,500 consumer households.
What’s distinctive about Gabriel, although, is how his agency has grown from $200 million to $1.4 billion of AUM in simply 5 years by producing 2,500 leads a month (that result in 450 to 500 new shoppers onboarded yearly), partially by spending roughly 15% of agency income on advertising and marketing annually.
On this episode, we discuss in-depth about how Gabriel’s agency invests probably the most advertising and marketing {dollars} in promoting on Google (which is the highest supply of its leads and shoppers) and will increase the effectiveness of this spend by creating devoted touchdown pages and lead magnets focused at totally different search key phrases, how Gabriel’s agency has created instructional content material for its web site (in written, audio, and video codecs) that not solely helps with search engine marketing, but additionally with reply engine optimization (amidst the rising recognition of AI search), and the way Gabriel additionally has discovered success investing advertising and marketing {dollars} on a variety of advisor lead-generation instruments (and improves the success charge of this tactic by using employees members who’re liable for rapidly responding to new leads from these sources).
We additionally speak about how Gabriel’s agency makes use of a personality-typing system to match prospects with an applicable member of its enterprise improvement staff and with the advisors who will finally serve them after they change into shoppers, how Gabriel employs a revenue-based compensation construction for advisors (permitting them to develop their compensation as they work with extra, and wealthier, shoppers, with a wage ground for these beginning to construct their consumer bases), and the way Gabriel finally views the advisors on his staff as his greatest “shoppers” (on condition that they’re one of many keys for the agency to have the ability to serve much more shoppers sooner or later).
And make sure to take heed to the tip, the place Gabriel shares why he is prepared to spend money on hiring and know-how spending not simply primarily based on his agency’s present wants however reasonably the place he desires the agency to be sooner or later, why Gabriel’s agency expenses an above-average charge to its shoppers (beginning at 2% of AUM and solely reaching 1% at roughly $3 million of AUM) primarily based on the excessive stage of service he believes his agency offers (significantly in serving to shoppers discover tax financial savings alternatives), and the way Gabriel’s development over the previous a number of years has come after constructing a staff that may successfully appeal to and serve shoppers (with out him personally being on the middle of those initiatives), permitting him to deal with his position main the agency into the long run.
So, whether or not you are interested by studying concerning the potential return of creating important hard-dollar investments in advertising and marketing, leveraging Google and devoted touchdown pages to draw prospects, or the challenges of rising AUM by a billion {dollars} organically in simply 5 years, then we hope you take pleasure in this episode of the Monetary Advisor Success podcast, with Gabriel Shahin.
