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Outsourcing And Managing Client Headcount To Stay Lean As A Two-Founder, $150M Firm: #FASuccess Ep 511 With Ashlee deSteiger

October 13, 2026 07:04 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Ashlee deSteiger Podcast Featured Image FAS

Welcome everyone! Welcome to the 511th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Ashlee deSteiger. Ashlee is the co-owner of Gunder Wealth Management, an RIA based in Birmingham, Michigan, that oversees approximately $150 million in assets under management for 100 client households.

What's unique about Ashlee, though, is how she made the decision to use an outsourcing platform for back-office services (and, later, paraplanning support) to support her goals of growing her client base while maintaining her desired lifestyle.

In this episode, we talk in-depth about how Ashlee decided to seek out a virtual assistant platform after reaching approximately 50 clients to be able to better focus on client growth and service (while freeing up mental capacity and time for higher-value tasks), why Ashlee sought a provider that not only could take on administrative tasks such as processing account paperwork but also could handle client requests (such as cash transfers) when she's out of office, and why Ashlee has decided to stick with her virtual assistant service (which she uses for 60 hours per month) rather than hire a full-time staff member for a similar cost.

We also talk about how Ashlee decided to pause new client onboarding for nine months in order to get a better handle on her firm's key performance metrics, how engaging in this exercise led Ashlee to move on from 5% of her client relationships each year (selecting clients based on both the revenue they generate and their engagement level with the firm), and how Ashlee adjusted her approach to producing (and charging for) one-time plans based on the findings of this exercise.

And be certain to listen to the end, where Ashlee shares how she's been able to generate new clients by posting graphics on Instagram (as it makes her top-of-mind for personal connections when they decide it's time to work with a financial planner), how Ashlee has balanced her approach to building a business with that of her business partner and husband, and how Ashlee has ultimately found success by creating a business that gives her the freedom to be able to work around her life instead of asking her family to build around her work.

So, whether you're interested in learning about outsourcing back-office tasks to remain a lean, profitable business, assessing KPIs to identify ways to improve a firm's efficiency, or how to run a growing firm while meeting lifestyle goals, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Ashlee deSteiger.

What Information Prospects Actually Seek When Choosing An Advisor

October 12, 2026 07:03 am 0 Comments CATEGORY: Marketing, Research

A crucial part of marketing is, put simply, doing more of what works and less of what doesn't work. But how can advisors know what is effective? Many advisors look to their prospect calls for the answers: who shows up, and what do they ask about? This is a helpful starting point, but it may provide an incomplete picture – e.g., advisors may determine that since prospective clients don't ask about the advisor's CFP designation in a prospecting call, clients don't care about it. In reality, how people gather information and make decisions is more complex than that.

In this article, Senior Financial Planning Nerd Sydney Squires details how prospects actually evaluate financial planners, what information they seek, and how advisors can evaluate the effectiveness of the marketing strategies that they employ (in a way that allows visibility into 'more' prospective clients).

As a starting point, when narrowing down potential advisors, clients often have two sets of criteria. First, clients determine which traits an advisor must have and look to find all advisors who have those traits, such as a CFP designation (or similar demonstrations of expertise). Second, clients set criteria – such as location or pricing – that eliminate otherwise-viable firms as they seek to find the 'best' advisor (for them). A client's criteria will be personal – some clients may crave in-person interactions with an advisory firm, whereas others will prioritize the flexibility of remote meetings.

What various studies suggest is important, however, is that prospects are able to quickly and easily find this information. A recent marketing report indicated that even if a prospective client receives a referral from a friend, if they cannot find the information they need to assess potential fit on the advisor's website, the overwhelming majority will simply move on to another firm that does provide what they're looking for.

The good news for advisors is that most prospective clients are seeking relatively basic information, such as the advisory firm's fees (and minimums), demonstrations of the advisor's expertise (including reviews and testimonials), the nature of the advisor's investment strategies, and an overview of the discovery process. These components can be covered over the course of a few pages on a firm's website; the challenge to advisors is to ensure that this information is given in a clear, prospect-friendly manner. Advisors may consider adding some basic analytics to their website as well, which would allow them to better understand who is visiting the site, how long they're spending, and which pages they visit.

Once advisors have added this crucial information, they can then have a fuller view of the prospect's journey – as well as some added visibility into potential clients who don't reach out. Ultimately, the end goal is not to convert everyone who visits the website into a client, but rather, to ensure that prospects are receiving the right information to make informed decisions. From there, advisors can keep refining their marketing strategies to curate an experience that both attracts right-fit clients and speaks to their questions and issues – ultimately increasing the number of great, informed prospects the advisor meets!

Weekend Reading For Financial Planners (October 10–11)

October 9, 2026 02:08 pm 0 Comments CATEGORY: Weekend Reading

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that Fidelity is planning to raise its minimum asset threshold for RIAs on its platform to $100 million, with affected firms having until June 30, 2027 to reach this minimum or start the process of finding a new custodial home. While this move is already leading to competition amongst other RIA custodians to serve the (few hundred) affected firms, more broadly it demonstrates the consequences of the current RIA custodial model (where neither RIAs nor their clients pay a direct fee to the custodian but rather 'pay' through the services clients use [e.g., relatively low-rate cash sweep accounts and lending products]) and suggests that an approach with more explicit fees could potentially serve custodians, RIAs, and individual clients alike.

Also in industry news this week:

The Securities and Exchange Commission (SEC) this week released a new examination handbook that offers fresh insights into how it determines which RIAs to examine each year
The SEC also released a proposed framework for advisor custody of clients' cryptoassets, which could provide greater assurance for advisors interested in doing so

From there, we have several articles on Health Savings Accounts (HSAs):

Why having an HSA 'succession plan' can help avoid the loss of attractive tax benefits associated with these accounts
While the types of services and products eligible for reimbursement using an HSA might be broader than many clients expect, pushing the boundaries could lead to undesired penalties
How families can execute an HSA "deathbed drawdown" to get assets out of an account in a hurry and avoid negative tax repercussions when an HSA is inherited by a non-spouse individual

We also have a number of articles on the elevated interest rate environment:

Strategies for families to support children or grandchildren with the purchase of a home amidst elevated home prices and interest rates, including intra-family loans and disclaimers
A recent study finds that a significant portion of homebuyers are ending up with higher rates and mortgage costs by not shopping around (with those with higher income and credit scores particularly prone to do so)
An in-depth look into how financial advisors can support clients deciding whether to pay points to receive a lower interest rate on their mortgage

We wrap up with three final articles, all about wealth:

Recent data indicate that the wealth of the top 0.1% of households has diverged from that of those in the next wealth bracket, creating a subgroup of astronomically wealthy households
While the wealthiest households in the United States have seen their net worth soar during the past decade, those further down the wealth spectrum (including those in younger generations) have seen gains as well (perhaps opening new opportunities for financial advisors)
How the difference between absolute and relative wealth (and the relationship between income and wellbeing) can be instructive at a time when certain individuals have seen their wealth explode

Enjoy the 'light' reading!

7 Charts For Client Conversations In Q4 2026: Interest Rates, The Fed, AI, And More

October 7, 2026 07:04 am 0 Comments CATEGORY: Investments

The third quarter of 2026 saw a historic climb in interest rates, a new Federal Reserve rate hike cycle, and oil prices surging back above $100 a barrel. Given this combination of developments, many investors might have assumed that equity markets would struggle heading into year-end. Yet the S&P 500 notched its 27th record high of the year amidst continued strong corporate earnings, rewarding those who have been able to look past the headlines and remain invested.

In this article, James Liu, CEO of Clearnomics, walks through seven charts to help advisors put the quarter's headlines into context for clients, from the historic climb in bond yields, to what resurgent AI-related spending means for corporate earnings and productivity.

Interest rates have been the biggest story of the quarter, with the 10-year Treasury yield touching 5.30% in September, a level not seen since 2002, while the 30-year reached 5.64%. Unlike 2022, when rates climbed largely due to runaway inflation (hurting stocks and bonds at the same time), today's increases are being driven primarily by rising real (inflation-adjusted) yields – reflecting economic growth and heavy AI-related capital.

Inflation remains part of the picture as well, with headline CPI at 3.4% year-over-year and core CPI at 2.4%, both still driven largely by oil prices. This gave the Fed room to raise its target rate to a range of 3.75% to 4.00% in September – its first hike in three years – though new Fed Chair Kevin Warsh has also signaled a preference for stepping back from the central bank's traditional practice of forward guidance.

Corporate earnings, meanwhile, have been equally strong this quarter. S&P 500 earnings grew approximately 29% year-over-year, a third consecutive quarter of growth above 25% and well ahead of the historical average of around 8%, with all 11 S&P 500 sectors posting gains rather than returns being concentrated in a handful of mega-cap technology names.

Oil and copper were also in focus this quarter, with Brent crude climbing back above $100 a barrel amidst continued disruptions near the Strait of Hormuz, and copper rallying to all-time highs on surging demand tied to AI data centers.

With the midterm elections approaching in November, clients may naturally wonder whether a shift in Congressional control could affect their portfolios. History, though, suggests that markets have advanced under virtually every combination of political leadership over the past century, and that corporate earnings, interest rates, and other long-term trends are a far stronger indicator of market performance than one party or the other having political control.

Anticipated public offerings from AI leaders such as OpenAI and Anthropic have kept investors focused on a familiar question: whether today's level of AI infrastructure spending will eventually be matched by real productivity gains. And although equity market breadth has declined in recent months, a wide range of asset classes are positive year-to-date – an opportunity for advisors to demonstrate the value of a well-diversified portfolio throughout an eventful year.

Ultimately, the key point is that underlying fundamentals, such as real economic growth and broad-based earnings strength, are what typically drive long-run returns, even amidst headlines about rates, the Fed, and oil.

And if you want to go deeper on this topic, hear directly from the author on the Financial Advisor Technician podcast.

Creating Effective Discovery Meetings To Convert 100% Of (High-Value) Prospects Into Clients: #FASuccess Ep 510 With Michael Yoder

October 6, 2026 07:06 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Michael Yoder Podcast Featured Image FAS

Welcome everyone! Welcome to the 510th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Michael Yoder. Michael is the founder of Yoder Wealth Management, an RIA based in Walnut Creek, California, that oversees approximately $400 million in assets under management for 64 client households.

What's unique about Michael, though, is how he has implemented a discovery meeting process that has converted all prospects who go through it into clients over the past 10 years and allowed him to maintain a tailored practice that meets his lifestyle goals.

In this episode, we talk in-depth about how Michael starts his discovery process with an intro call that helps him determine whether a prospect would be a good fit for him and to introduce the personal questions that he will ask in the next meeting, how Michael uses a "deep discovery" meeting to help prospects explore their values around money and unearth goals they might not have previously considered, and how Michael finishes this process with an "initial findings" meeting where he presents preliminary planning recommendations (demonstrating the value they could receive from working with his firm without getting too specific about the actions required to implement chosen strategies).

We also talk about how Michael transitioned his firm from a generalist practice serving 177 client households (which came at a significant personal cost of time and stress) into a lifestyle practice serving 64 clients (including the challenge of finding new homes for clients and staff members), how Michael narrowed his focus to providing advanced retirement income services before later transitioning to working with clients on equity compensation issues, and how Michael has regularly received referrals from CPAs by demonstrating his expertise in specific topic areas relevant to their clients (for example, knowing the ins and outs of qualified small business stock).

And be certain to listen to the end, where Michael shares how using "precise language" without veering into industry jargon demonstrates credibility to clients and centers of influence alike, why Michael doesn’t shy away from fee conversations with prospects (as they have already seen the depth of value that his firm can provide), and how Michael has ultimately found that transitioning into a more focused (yet still highly profitable) practice has allowed him to better balance his professional, family, and personal goals.

So, whether you’re interested in learning about how narrowing his expertise helped him build relationships with CPAs and generate referrals, why specialized knowledge in areas such as retirement income and equity compensation can create new opportunities, and how precise language can build credibility without relying on industry jargon, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Michael Yoder.

Claude For Financial Advisors Debuts To Tie Together The Advisor Tech Stack – But Will Tech Providers Play Along? (And More Of The Latest In Financial #AdvisorTech – October 2026)

October 5, 2026 07:03 am 0 Comments CATEGORY: Technology & Advisor FinTech

Welcome to the October 2026 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!

This month's edition kicks off with the news that Anthropic has announced the launch of Claude for Financial Advisors, an industry-specific plugin for its popular AI chatbot, which connects to a number of different existing advisor technology tools and moves data in and out to execute functions like creating a pre-meeting summary

From there, the latest highlights also feature a number of other interesting advisor technology announcements, including:

Two new announcements in the financial planning space – the launch of Hazel's new AI Financial Planning Agent and Conquest's AI planning platform being released to individual (non-enterprise) advisors – show how AI-enabled financial planning startups are aiming to disrupt the incumbent "Big 3" of eMoney, RightCapital, and MoneyGuidePro – but with the slow pace at which advisors adopt new financial planning software, it could take years to know whether that 'disruption' is actually happening
Savvy has announced the launch of a new custody platform – open to all advisors regardless of whether they're affiliated with Savvy's RIA – suggesting a potential shift in strategy towards technology and custody (and possible competition with Altruist in both categories) which could better allow for the tech-style growth and valuation that Savvy is seeking?
The estate planning software Luminary has announced a recent $22M fundraising round, showing how despite a hard year for specialized planning tools – which have been pressured both by the potential of having their features co-opted by comprehensive planning software and by the ability for advisors to build their own low-cost tools using AI – there is still a path for success for software that can get into deeper and more complex planning than generalized financial planning software or homebuilt options are able to go

Read the analysis about these announcements in this month's column, and a discussion of more trends in advisor technology, including:

The M&A and transition consulting firm FP Transitions has released a new valuation benchmarking tool, which is part of a new crop of business benchmarking software that can help advisory firm leaders go into greater detail and specificity than traditional benchmarking studies allow when comparing the details of their business operations (and overall firm value) with their peers
The SEC is reportedly probing into how advisory firms train and supervise their employees on their use of AI tools, which has implications for firms whose employees build tools or automations using personal (i.e., non-enterprise) versions of tools like ChatGPT or Claude (that could inadvertently expose client data to parties outside the firm) and underscores the importance of having an AI policy in place – because just as the SEC fined numerous firms for off-channel communications by their employees, RIAs could soon find themselves disciplined for unsanctioned AI use by their 'amateur developer' employees!

And be certain to read to the end, where we have provided an update to our popular "Financial AdvisorTech Solutions Map" (and also added the changes to our AdvisorTech Directory) as well!

*To submit a request for inclusion or updates on the Financial Advisor FinTech Solutions Map and AdvisorTech Directory, please share information on the solution at the AdvisorTech Map submission form.