Welcome, everyone! Welcome to the 57th episode of the Financial Advisor Success Podcast!
My guest on today’s podcast is Ted Jenkin. Ted is the co-founder of oXYGen Financial, a wealth management advisory firm under Kestra that manages nearly $1 billion of client assets.
What’s unique about Ted, though, is that his firm is focused almost entirely on serving Gen X and Gen Y clients – thus the “XYGen” part of the oXYGen Financial name – and gets paid through a combination of AUM fees, a small portion of insurance implementation commissions, and a $99 per month “technology fee” that they charge their clients for their own personal financial management dashboard… which is provided by aggregating their accounts through eMoney Advisor.
In this episode, Ted shares how oXYGen Financial grew from scratch to over 1,500 hundred clients over the past 10 years since it was founded, how the firm executes its digital marketing strategies by producing a high volume of “e-books” – some as short as 1 or 2 pages – that they offer online prospects in exchange for their email address and phone number, the way oXYGen Financial drives visitors to its website by getting visibility on “not-advisor-traditional” radio shows like sports programs, and the way the firm follows up with those prospects who contact them online.
In addition, we also talk in depth about oXYGen’s actual four-meeting financial planning process with clients, that starts with an Initial Client Meeting which talks clients through a “Key Money Concerns” checklist the firm created, to a Data Gathering meeting that the financial advisor themselves doesn’t even sit in, followed by a Plan Presentation meeting that oXYGen frames as a “Strategy Session” to talk about potential planning strategies to implement, and then wraps up with an actual implementation meeting that includes transferring assets for oXYGen to manage.
And be certain to listen to the end, where Ted talks about the challenges he went through in leaving a 17-year career as a Vice-President-level manager at a major broker-dealer to go out on his own with his business partner Kile Lewis, how he plowed money into marketing in the first year to not just get clients but set the groundwork for building the oXYGen Financial brand, and how he focused on building relationships with other local small business owners in the Atlanta area to grow the firm.
So whether you are interested in learning more about reaching prospective clients online through e-books, curious how you can grow your business through radio shows, or simply want to learn more about how you can profitably serve Gen X and Gen Y clients, I hope you enjoy this episode of the Financial Advisor Success podcast!