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We are back with another episode of Quantum Growth for Financial advisors with Jon Randall & Jon Kuttin.  This week, we continue our new Multi-Part Educational Classroom Series for Financial Advisors Looking for Quantum Growth within their Practices!

In our first episode we reviewed the beginning of the journey as an advisor to get to 1M of GDC and then explored the “early ensemble” stage to get to 2.5M of production.  Join Jon Randall and Jon Kuttin for our newest 301 Episode focused on Advisors looking to reach our next key hurdle of 5M of production or gross dealer concession within their businesses.

Jon and Jon both go deep into the next level of running your advisory business and outline key considerations and potential roadblocks that many advisors may face in this stage of their careers so they can cut through the noise and focus on what is most important.  We find that this stage is where many advisors get stuck and cannot get through the “ceiling of complexity” that starts to take over at this level of revenue as your practice turns into a true business.

If you are a growing advisor who is in this bracket of 2.5M – 5M of production and looking to start to build a real business – this episode will help you break through the noise and get you on your way to forming a true organizational level business in the financial services space.

Through 100s of coaching and consulting engagements, learn from Jon Randall and Jon Kuttin on what they believe to be the keys to reach this next key milestone in your advisory career and business.

Listen in to learn:

  • The profile of a 2.5M – 5M producer and the key issues they usually face.
  • The concept of human capital and why it should be your key focus in this stage of your career.
  • Why focusing on the client experience is key at this level of production and the importance of systemizing your process before engaging in massive growth.
  • Thinking about how to achieve a 1.5X velocity rate or multiple on clients before investing in marketing and more support.
  • Why client segmentation is so important at this level as how to focus on serving the clients who drive the most top line revenue to your practice.
  • Why building a call center internally or selling the bottom of the book may make sense to free up time and capacity to focus on working with the best clients.
  • How satisfying your top clients can and will be your top revenue driver.
  • Jon Randall’s secrets to success that he teaches his advisors to achieve a 30% CAGR.
  • Why you should expect your profits to go down during this time as you start to expand your team and build key systems and processes for future growth.
  • Thinking about starting to build your advisory business to run without you and why that concept is so important when thinking about a future sale of your practice with real examples from Jon Kuttin.
  • How to start to build your team of specialists and internalizing the “who not how” concept throughout the process.
  • Jon Randall’s rundown of the key specialists and departments you should start to think about building out and managing.
  • Why client relationships are paramount and the concept that financial advisors shouldn’t hold themselves out as traditional money managers.
  • Weighing the pros and cons of focusing on inorganic growth, leading someone internally to drive organic growth, or hiring a coach to grow
  • Coach Kimberly’s “Statue of David” analogy to explain your role as a leader.

Resources:

Connect with Jon Randall and XFA:

Connect with Jon Kuttin Kuttin and Consulting Group:

About our Guest:

Jon Randall is a Certified Master Coach® and Premier Franchise Consultant who hit #1 in GDC Growth on the FC Scorecard for the advisors he works with all over the country. With more than 15 years of experience as a practicing advisor, Jon works with some of the top financial professionals in the industry – the average GDC for the advisors he coaches being more than $1.2 MM. He is also a national presenter at financial service industry conventions and workshops around the country. Jon’s specialties in consulting include marketing, investments, financial planning, and practice management.