Welcome everybody! Welcome to the 449th episode of the Monetary Advisor Success Podcast!
My visitor on at this time’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 roughly 1,500 consumer households.
What’s distinctive about Michelle, although, is how her agency has grown to $2 billion of AUM fully organically and has achieved a higher than 99% consumer retention charge, partially by setting excessive requirements for consumer service (and sticking to them over time).
On this episode, we speak in-depth about how Michelle prioritizes her shoppers’ time (guaranteeing 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 “The whole lot Binder” that enables shoppers to place all of their key info in a single place (offering shoppers with peace of thoughts by easing the transition for family members if the consumer turns into incapacitated or passes away), and the way Michelle builds a half hour into her schedule after consumer conferences to report notes into her CRM in order that she does not overlook any essential messages the consumer communicated throughout their dialog.
We additionally speak about how Michelle has achieved robust consumer satisfaction by spending nearly all of time throughout conferences listening to what they need to 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 additionally whether or not they had any cash conflicts in the course of the journey), and the way Michelle ends every consumer assembly by asking whether or not there are any points the consumer needs to speak by (which can or will not be financial-related and helps her gauge their satisfaction along with her service).
And make certain to take heed to the tip, 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 keep an “eat what you kill” method in direction of compensation), how Michelle has discovered vital worth from working an internship program (each professionally by figuring out gifted college students who might turn into the following 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 mother or father 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 serious about studying about setting and sustaining excessive consumer service requirements, fostering deeper consumer conversations, or making a partnership final over a number of many years, then we hope you get pleasure from this episode of the Monetary Advisor Success podcast, with Michelle Perry Higgins.
