Financial Advisors Want to Know: How to Serve More Clients Without Sacrificing Quality or Time - Ep. 84 Stephanie Bogan

Welcome to the Financial Advisors Want to Know Podcast, I’m Catherine Tindall a CPA with Dominion where our focus is helping financial advisors navigate income tax planning and compliance for their firms.

Stephanie Bogan is a leading practice expert, consultant, coach, speaker and author with 30 years of field-tested experience building, growing, and selling advisory firms. After selling her firm to a Fortune 200 company she retired to the beach in Costa Rica, and then un-retiring to share how she learned to create "high-performance happiness" for herself and her clients.

Key Podcast Takeaways:
Scaling with Intent: Scaling a wealth management practice is about optimizing the core functions (client base, staffing, and operations) before expanding. This ensures sustainable growth and avoids burnout.

P&L Mindset Shift: Advisors need to adopt a strategic mindset that prioritizes profitability, leveraging people, processes, and technology, rather than getting stuck in a personal P&L mindset that limits growth potential.

Client Segmentation: The practice of categorizing clients based on profitability and service needs is essential. Adjusting service models and pricing based on this segmentation allows for higher profitability and better client experiences.

Service Inflation vs. Fee Compression: Rather than lowering fees to compete, advisors should focus on offering a more specialized service, increasing the value provided, and justifying their fees through clear and consistent deliverables.

Aligning Growth and Fulfillment: Successful growth isn’t just about increasing revenue; it’s about aligning your practice’s business model with your personal values and ensuring that you deliver high-quality service while maintaining a work-life balance.

Connect with Stephanie:
https://www.linkedin.com/in/sbogan/
https://limitlessfa.life/

Connect with Catherine:
https://www.linkedin.com/in/ctindallcpa/

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