Welcome everybody! Welcome to the 442nd episode of the Monetary Advisor Success Podcast!
My visitor on right this moment’s podcast is David Bahnsen. David is the founding father of The Bahnsen Group, an RIA based mostly in Newport Seaside, California, that oversees roughly $7.5 billion in belongings beneath administration for 1,800 shopper households.
What’s distinctive about David, although, is how his agency has been in a position to appeal to $100 million in new shopper belongings per thirty days thanks largely to his content material creation and public commentary on funding markets in addition to points that advisors usually keep away from, together with faith and politics.
On this episode, we discuss in-depth about how David’s weekly market commentaries (which he has written since 2008 and attracts 15,000 weekly viewers throughout weblog, podcast, and video codecs) familiarize readers together with his agency’s funding strategy and put it top-of-mind when they’re prepared to hunt out a monetary advisor, how David has written a number of books on markets and his different passions that not solely have educated readers on his views on these points but additionally have led to many tv appearances which have expanded his attain additional, and the way being public together with his opinions on divisive matters has allowed David to exhibit competence and likeability, attracting to his agency each like-minded customers and a few who would possibly disagree with him however recognize his willingness to be candid.
We additionally discuss how David’s transition from specializing in each enterprise improvement and shopper service to spend a lot of his time on content material creation (decreasing his shopper depend from 180 to twenty within the course of) has led to explosive asset and shopper development in his agency throughout the previous a number of years, why David focuses on hiring advisors with expertise in monetary planning and relationship administration (slightly than prospecting, given the sturdy lead pipeline his content material generates), and the way David has carried out a pay mannequin that provides advisors a base wage of their early years whereas offering for important earnings upside via revenue-based compensation (and a path to partnership) as they serve extra (and higher-net-worth) shoppers over time.
And make certain to hearken to the tip, the place David shares why he determined to include tax preparation into his agency not as a revenue heart however slightly as a method to supply a complete monetary companies providing for shoppers (serving to the agency shut extra prospects and preserve greater shopper satisfaction within the course of), how David has discovered success opening places of work situated away from coastal inhabitants facilities (not solely to draw shoppers in these cities but additionally to exhibit that they’re a really nationwide agency), and the way David, after rising a profitable agency, is now centered on alternatives for his agency’s advisors to develop of their careers in addition to the final word stewardship of his enterprise.
So, whether or not you are occupied with studying about leveraging content material throughout a number of media to draw like-minded shoppers, transitioning from a lead advisor to administration position, or the choice making behind opening places of work in new places, then we hope you take pleasure in this episode of the Monetary Advisor Success podcast, with David Bahnsen.