Welcome everybody! Welcome to the 449th episode of the Monetary Advisor Success Podcast!
My visitor on at the moment’s podcast is Michelle Perry Higgins. Michelle is a principal of California Monetary Advisors, an RIA primarily based in San Ramon, California, that oversees $2 billion in belongings beneath administration for about 1,500 shopper households.
What’s distinctive about Michelle, although, is how her agency has grown to $2 billion of AUM totally organically and has achieved a higher than 99% shopper retention price, partially by setting excessive requirements for shopper service (and sticking to them over time).
On this episode, we discuss in-depth about how Michelle prioritizes her shoppers’ time (making certain they by no means wait greater than 5 minutes for a gathering and all the time obtain a same-day name again once they contact the workplace), how Michelle created what she calls an “All the pieces Binder” that permits shoppers to place all of their key data in a single place (offering shoppers with peace of thoughts by easing the transition for family members if the shopper turns into incapacitated or passes away), and the way Michelle builds a half hour into her schedule after shopper conferences to document notes into her CRM in order that she would not overlook any necessary messages the shopper communicated throughout their dialog.
We additionally speak about how Michelle has achieved sturdy shopper satisfaction by spending nearly all of time throughout conferences listening to what they should say (and avoiding jargon when it comes time for her to debate technical planning subjects), how Michelle seeks to go a stage deeper when speaking to shoppers about their private lives (for instance, not simply asking about the place they went on trip but in addition whether or not they had any cash conflicts in the course of the journey), and the way Michelle ends every shopper assembly by asking whether or not there are any points the shopper desires to speak by (which can or might not be financial-related and helps her gauge their satisfaction along with her service).
And be sure to take heed to the top, the place Michelle shares how she has constructed California Monetary Advisors with three of her companions over the course of 30-plus years (and why they preserve an “eat what you kill” method in the direction of compensation), how Michelle has discovered vital worth from working an internship program (each professionally by figuring out proficient college students who may develop into the subsequent era of advisors at her agency, and personally by with the ability to mentor aspiring advisors), and the way Michelle has navigated the challenges of being profitable as a monetary advisor and as a dad or mum on the identical time (together with the fun she’s had and the sacrifices she’s made alongside the best way).
So, whether or not you are enthusiastic about studying about setting and sustaining excessive shopper service requirements, fostering deeper shopper conversations, or making a partnership final over a number of a long time, then we hope you take pleasure in this episode of the Monetary Advisor Success podcast, with Michelle Perry Higgins.
