Insights

Welcome back to the 273rd episode of the Financial Advisor Success Podcast! My guest on today's podcast is Penny Phillips. Penny is the president and co-founder of Journey Strategic Wealth, an independent RIA platform for advisors that manages over $3 billion in assets through the firms that they work with to outsource their back-office compliance and operations management.

Everything supposedly changed post-pandemic except the financial advisor’s role and how they drive new business. The contrarian view was part of a keynote session titled “Growth & Client Acquisition in 2022 & Beyond” at the Retirement & Longevity Summit in San Diego on Monday morning.

Watch a replay of Penny Speaking at a Wealthbox Webinar.

While it’s important to track quantitative goals if you’re building a business, it's equally as important to track qualitative goals that advisors can use to assess whether their practice is growing in alignment with their strengths, aspirations and values.

Listen to one of the co-founders and advisors at Journey Strategic Wealth talk about the questions clients SHOULD ask their advisors... And that advisors should be prepared to answer, clearly & quickly always.

Advisors put a lot of pressure on themselves to have everything right on the first day of a new year; business plan complete, goals set, new website up and running, etc.

Segmenting your clients is an absolute necessity if you want to grow, but doing so without a plan for scale will stagnate your business quickly.

On this episode of Shaping Change, Ross Marino interviews Penny Phillips, Co-Founder & President of Journey Strategic Wealth. They discuss how to help advisors manage change, finding the balance between low-cost and high-value, and the importance of utilizing CRMs and other advisor tools to provide top-tier client service.