Download Dan Allisont's "Current COI Feedback Scripts" and "New Potential COI Scripts" below, and check out "Getting A Healthy Flow Of New Clients From Centers Of Influence By Addressing The Referral Risk They Fear The Most: #FASuccess Ep 447 With Dan Allison" on how he coaches advisors to generate more leads from Centers Of Influence (COIs) such as CPAs and attorneys by building trusting relationships to reduce the professional risk that the COIs take when referring one of their clients to a financial advisor.
Current and New Potential COI Feedback Scripts
It is often said that "the only thing constant is change", which pairs well with the common financial advisor philosophy, "if you’re not growing, you’re dying". The end result of this dynamic is that even when advisory firms are successful and clients are well served, we’re constantly on the lookout for what we could be doing differently to serve clients better, and have to remain constantly vigilant to threats from the changing landscape (from volatile markets to the rise of AI).
And the same holds true for Kitces.com and our Nerd’s Eye View blog as well. Even as our readership (and listenership, and viewership) has grown over the years, and our reader retention remains incredibly high, we remain ever vigilant about the changing landscape and how we can still improve further, whether it’s refining how we deliver the articles, podcasts, and videos that we do, exploring alternative content formats or approaches, or figuring out how to best leverage AI ourselves, to better serve all of you, our advicer readers.
And so every year, we ask you – our readers – for feedback about what you want to make this website even better for you, to ensure we stay on the right track in adding value to the advicer community and making financial advisors better and more successful. And especially after the amount of change over the past few years, from expanding our podcasts to YouTube (and creating a new "Best Advisor Podcasts" list), to building an AdvisorTech Directory to complement (and provide more information than) our popular AdvisorTech Map, to the rollout of our Annual IAR Ethics CE Day… we’re more eager than ever for your feedback about how we’re doing, where we can improve, your thoughts about some new ideas we’re considering, and your feedback about what else we could be doing to help the advicer community.
Because we really do take your feedback seriously. Over the years, Nerd’s Eye View reader feedback has shaped everything from the visual design of the blog (from its original dense small font!), to the ongoing expansion of our Members section from offering CFP to now CPE credits for CPAs and IAR CE for RIAs that can be earned by reading Nerd's Eye View blog articles, the launch of the Financial Advisor Success podcast, our popular "Master List" of all the major Financial Advisor conferences and Best Books for Advisors, and now the coming rebuilding of our Members Section by the end of this year (to be followed by a design refresh of our Nerd’s Eye View blog in 2026!).
So regardless of what kind of reader you are: an advisor or someone who works in an advisory firm home office, an individual consumer who reads this blog for your own benefit, a CPA, attorney, or another related professional that works with financial advisors, or you're associated with a vendor who serves advisors... I hope you'll participate in this year's survey. It's only 13 feedback questions, should take no more than a few minutes, and will remain open until the end of next week.
Thanks in advance for taking a few minutes to access our Reader Survey below, and share your feedback! 😊
Launching a new business venture is often a creative – and somewhat vulnerable – act. Whether it's opening a new firm, publishing a book, or even just posting on social media, each public-facing offering reflects many hours of ideation, refinement, and effort. When preparing to launch, advisors must typically answer two core questions: "Who will show up for this?" and "Will the people who do show up like it and get it?" A good way to address both questions is to ask for feedback – but the real challenge is knowing who to ask, and when.
In the 161st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how and when to ask for feedback, how to use it constructively, and when it's better to simply act and launch.
As a starting point, gathering a sufficient volume of responses is crucial when asking for feedback. Negative feedback often feels ‘louder' than positive feedback, but a single critical opinion may not reflect a broader sentiment – people simply have a variety of preferences. Advisors can mitigate overreacting to one-off responses by ensuring they collect enough responses to identify real patterns, which can also prevent an advisor from rebuilding everything in response to a single opinion. Furthermore, ensuring that feedback is coming from the ‘right' people is just as important. For example, if a firm launches a new offering for its core clientele – dentists near retirement – then it may not be helpful to ask newly minted doctors what they think of the offering. The doctors may not find the offering helpful or relevant… and that's okay. Feedback from outside the target audience may be interesting, but it isn't always relevant!
In some cases, behavioral data may also be a helpful source of useful feedback. Observing the topics and offerings that clients actually engage with may offer better clues about what they find valuable. Doing more of what connects – and less of what doesn't – can be an easy, effective way to refine offerings over time.
Finally, there may be times when the best audience to build for is the advisor themselves. Many advisors build firms with fee service models that resonate with them. At times, what's needed isn't feedback – it's confidence. For example, there may come a point where an advisor may not need feedback as much as a rallying cry to move forward. Then, once something is launched, the advisor can watch for how prospects and clients react to their offerings and take that as implicit (or explicit) feedback.
The key point is that feedback can be a powerful tool to refine offerings and creative ventures, but only when it comes from the right people at the right stage of the process. When thoughtful feedback comes from a core part of the audience, it can be a helpful resource for advisors to shape services that resonate with their target audience. And, ultimately, those points of feedback can help advisors build a stronger, more relevant product – amplifying their impact in the long term!
Financial advicers often market their comprehensive financial services as a way to differentiate themselves from other advisory firms and to stand out in the broader landscape of financial advice. These services may range from 'standard' offerings like retirement planning to less traditional areas like credit card consulting. In a firm's early years, there tends to be more room for experimentation, with advisors adding new services to provide value and attract clients. However, as a firm's capacity grows and its list of services expands, the focus often shifts – from asking how to do more for clients – to "How can I regain control of my time without reducing the value or quality of my services?"
The best roadmap for focusing an advisory firm will reflect how to do more of what clients value and scale back on what they don't use or appreciate. While advisors may make educated guesses about client preferences, this approach has its limits. Advisor often have different skills and perspectives than their clients (because if clients share the same inclinations, they might just be advisors themselves!), and it can be difficult to fully eliminate personal when evaluating clients' needs. One-on-one client calls can offer insights, but they're hard to scale and may unintentionally lead to biased responses.
A more efficient solution is an asynchronous client engagement survey, allowing clients to rate how much they value specific offerings. These surveys help advisors identify what to improve, what to reduce, and what to keep doing because clients enjoy it! Advisors can also gauge interest in potential future services, using that feedback as a compass for what to build next.
Beyond assessing service offerings, client engagement surveys provide advisors with an opportunity to gather feedback about other aspects of the business. Advisors can ask how much value clients feel they receive for their fees, how they perceive about the firm's overall responsiveness, and what the firm should stop or start doing. This detailed feedback can reveal unexpected insights into where clients are truly finding the most value!
In most cases, two weeks is enough time for the clients to complete the survey, with a few reminder emails sent while the survey is open. After the survey closes, advisors can evaluate the responses – what can they do more of? Where can they scale back? And which new business opportunities would clients value most? After some preliminary analysis, it's important to follow-up with clients, expressing appreciation and sharing at least one change the firm will make based on the survey results.
Ultimately, the key point is that client engagement surveys can be a powerful tool for advisors to identify what matters most to clients. They provide valuable insights not only on what to streamline but also on where clients are receiving the greatest value. Beyond improving efficiency, surveys demonstrate that the advisor values client input, strengthening relationships and enhancing satisfaction – which can lead to better retention and more referrals!Read More...
The traditional financial advisory firm is blessed with incredibly high client retention rates. Which doesn't change the fact that each and every client loss that occurs is still very painful. But mathematically, most financial advisors only have to add at most a handful of clients every year to maintain positive growth momentum. To the point that most advisory firms don't really need to worry "Am I providing enough value to my clients?" and instead can focus on delivering the value they already provide more efficiently and effectively.
Yet the reality is that client preferences can and do change over time. Sometimes services that were once valued highly (delivery of quarterly performance reports) are no longer so valid (I'll just check on my accounts from my smartphone when I feel like it). Other times the evolution of the client base makes new services more relevant (e.g., from accumulation planning to decumulation planning). You never really know… until and unless you ask!
Every year, we ask you – our readers – for feedback about what you want to make this website even better for you, to ensure we stay on the right track in adding value to the advicer community and making financial advisors better and more successful. And especially after the amount of change over the past few years, from the rollout of our Virtual Summits on Marketing and Advisor Value to our Kitces Courses on Tax Returns, Insurance, and Estate Document Reviews, and most recently, the launch of IAR CE in our Members Section… we're more eager than ever for your feedback about how we're doing, where we can improve, your thoughts about some new ideas we're considering, and your feedback about what else we could be doing to help the advicer community.
Because we really do take your feedback seriously. Over the years, Nerd's Eye View reader feedback has shaped everything from the visual design of the blog (from its original dense small font!), to the ongoing expansion of our Members section from offering CFP to now CPE credits for CPAs and IAR CE for RIAs that can be earned by reading Nerd's Eye View blog articles, the launch of the Financial Advisor Success podcast, our popular "Master List" of all the major Financial Advisor conferences and Best Books for Advisors, and turning our AdvisorTech Map into an entire AdvisorTech Directory that you can use to build your own tech stack.
So regardless of what kind of reader you are: an advisor or someone who works in an advisory firm home office, an individual consumer who reads this blog for your own benefit, a CPA, attorney, or another related professional that works with financial advisors, or you're associated with a vendor who serves advisors... I hope you'll participate in this year's survey. It's only 12 feedback questions, should take no more than a few minutes, and will remain open until the end of next week.
Thanks in advance for taking a few minutes to access our Reader Survey below, and share your feedback! 😊
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A few months ago, many of you were kind enough to complete a series of two reader surveys - one for the Nerd's Eye View blog, and another for The Kitces Report newsletter. In the coming months, I'm excited to announce that you'll be seeing the fruits of those survey results, in the form of a number of upgrades and improvements to this platform. The visual look of the blog will be modernized (yes, including an increase in the default font size!), the comment system will be replaced, and several enhancements will be made to the members section for newsletter subscribers. In addition, we will begin to offer periodic webinars for continuing education credit, and later this year the written content of the blog will be complemented by a new podcast.
You'll see these changes roll out incrementally in the coming months. For the time being, this is just an announcement of changes to come, with an important note that if you're using an RSS reader to follow the content of this blog, there's now an updated RSS feed link to use (as the details of this post explain, you just need to complete a simple update to your blog reader software to ensure you continue to receive new content in the future).
In the meantime, thank you to all of you who voted Nerd's Eye View as #1 in the recent Zywave survey of the top news sites and blogs for financial advisors!
As I come up to speed on the world of blogging, it is my goal to make it easier for all of you to read the content on this website. Accordingly, I have configured this blog's content to publish via FeedBurner, so that you can conveniently using any number of blog reader programs to keep up with new content.
Welcome everyone! Welcome to the 476th episode of the Financial Advisor Success Podcast!
My guest on today's podcast is Kathy Longo. Kathy is the founder of Flourish Wealth Management, an RIA based in Edina, Minnesota, that oversees $455 million in assets under management for 163 client households.
What's unique about Kathy, though, is how she decided to add a partner despite leaving a previous partnership within a larger RIA to start a business that she could drive individually.
In this episode, we talk in-depth about how Kathy decided to offer an ownership stake to an advisor on her team to both get the ball rolling on a succession plan that will allow her firm to remain independent and to reward the advisor for his contributions and commitment to the business, why Kathy chose to issue a self-financed loan for her new partner’s buy-in for both tax planning purposes and to better manage debt she had taken on to finance an acquisition, and how Kathy benefited from using an external valuation service not only by receiving an accurate valuation for the firm for her new partner’s buy-in, but also by learning about the key drivers that would propel her firm’s value going forward.
We also talk about how Kathy has found success in the latest stage of her growth journey in part by working with external partners to better define her firm’s culture and values (and align them with its model and career paths), how Kathy has used a recruiting firm and different assessment tools to improve her hiring process and identify candidates that are more likely to fit her firm’s culture, and how Kathy has created better alignment throughout her firm as her team has grown by instituting the Entrepreneurial Operating System (with the support of an external implementer).
And be certain to listen to the end, where Kathy shares how she boosted her firm’s growth through an acquisition (and how she made the transition more manageable by acquiring the clients in tranches rather than all at once), how Kathy has found significant value from working with coaches who can serve as dedicated sources of advice and feedback on both strategic business planning and her own leadership skills, and how Kathy has successfully managed running a firm where her husband is a key employee (including by setting appropriate work/life boundaries).
So, whether you’re interested in learning about starting down the path of an internal succession by adding a partner, managing an acquisition by bringing clients over in tranches, or creating the operational and hiring systems needed to build a lasting firm, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Kathy Longo.
Many financial advisors reach a critical juncture in their growth known as the "capacity crossroads," when personal bandwidth becomes strained by increasing client demands. At this stage, advisors often need to begin determining what to delegate – and to whom. Administrative responsibilities are often the first to go, as these tasks are often repetitive in nature and usually less fulfilling for advisors (according to Kitces research). However, advisors looking to delegate administrative work may find themselves overwhelmed by too many choices, a phenomenon known as overchoice, where an abundance of options leads to decision paralysis. What may start as a simple intention to "get help with some admin work" can quickly spiral into hours of research, comparison, and uncertainty about what type of support is truly needed.
Hiring a fractional admin assistant offers an elegant solution for advisors who need help but aren't ready – or willing – to commit to a full-time employee. Fractional professionals can fill half-time or even quarter-time roles, bridging the gap between solo practice and a fully staffed firm. These roles are especially useful when the workload doesn't yet justify a 40-hour position or when advisors are experimenting with the delegation process. In addition to flexibility, experienced fractional assistants often require less onboarding time and can bring immediate structure, systems, and operational insight.
In this article, Sydney Squires, Senior Financial Planning Nerd, discusses how to evaluate various administrative assistant options, make an informed hiring decision, and onboard the assistant as smoothly as possible. Because not all administrative assistants are created equal, and success often depends on defining the scope of the role clearly. Advisors need to consider whether they want a strategic partner – someone capable of process design, workflow refinement, and judgment-driven tasks like calendar coordination – or an assistant focused on routine checklist-style tasks. Both roles are valuable, but identifying the dominant need helps narrow the candidate pool. A time audit or even a quick calendar review can help advisors determine what's consuming their time, what's most draining, and what logically groups together into a defined role. From there, advisors can distinguish between must-haves and nice-to-haves, setting the foundation for either a job posting or a targeted search among third-party providers.
Evaluating candidates effectively – whether through job boards or outsourcing platforms – means focusing on alignment of experience, work style, and availability. Advisors should be clear about expected hours, responsibilities, and whether there's potential for the role to grow. Interviews can help uncover a candidates' software familiarity, ability to handle sensitive information, and communication preferences. Once hired, onboarding goes most smoothly when centered on clear expectations, feedback mechanisms, and regular check-ins. While repetitive tasks may be handed off within weeks, more nuanced responsibilities may require a longer ramp-up period.
Ultimately, hiring a fractional assistant isn't just about reducing workload – it's about building capacity with intention. Advisors who successfully define, delegate, and onboard administrative help not only create more time for client-facing work and business development, but also lay the groundwork for smoother, more scalable operations. Over time, these assistants can become trusted partners, offering fresh insights and helping improve firm systems in ways that benefit both the advisor and their clients. With a clear plan and the right fit, even a few hours a week of support can lead to meaningful improvements in advisor wellbeing, firm efficiency, and long-term sustainability!
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