Write something
Ads & Campaigns Support Call is happening in 44 hours
[Goal Setting] $50M in AUM in 2024 as a Solo Advisor
Challenge Accepted! I spoke with 3 clients in the last couple of days… These folks have all been with me for a while… They know how it works. They’ve seen the case studies. Been on calls with peers that are scaling. They decided they are next. Here is how we are going to accomplish this together. Whether your goal is 10M, 20M, 50M, or even 100M+…Or however you think about your goals. Right now is the time to be planning and setting your goals for 2024… So when the ball drops, the glasses clink, the kisses are over… You are ready! Are you ready? If not, let’s get fit for the new year before everyone else vs waking up on Jan 1 and easing into the year. Let’s do some reverse goal setting. So if your trying to add $50M next year, this is one way to do it (not the only way). Let’s first break it down by quarter: $50M/4 = $12.5M/Quarter Now by month: $12.5M/3 = $4.16M/Month We could have just done it by month to begin with but sometimes we need 90 day windows and sometimes 30 day windows to work in. This means we need roughly $4M/month in new AUM…Ok…pretty simple. To get to the $4M let’s focus on people with $2M or more in assets. So we only need 2 new clients/month. To get that, we will need to talk to about 20 people per month or less…but let’s hedge and say it’s 20. So… 20/4 = 5 appointments per week with people that have $2M+. Out of 20 appointments you need 2. Time needed for first calls = 5 hours per week Time needed for second calls = 2 hours per week Time needed for closing = 1 hour per week SO…about 8 hours per week…plenty of time to still go golfing or fishing or time with the FAM. To get these 20 appointments, you can literally buy them…it will cost $400 or so for each one. Let’s break that down. $400 cost per appointment * 20 appointments = $8,000/month to get $4M AUM or $40K new recurring revenue per year with a LTV (Client Life Time Value) of $400,000+… Repeat 12X = $50M “But I want to do $100M” “But I want to do $20M” This is the RX (prescription) for $50M, but this can be Scaled up or down to fit you and your goals...just like Crossfit.
New comment 15d ago
Can you build a funnel with your webpage?
Hey there, been going through the Vanguard training and I've kind of been wondering would it work to build out a "hidden" portion of my website to act as the VSL landing page / sales funnel that ads are directed to? If I could capture emails to put into a mailer sequence and have people watch the VSL with a button to book a call, and also have a 'thank you' page and exit pop, is there any other reason I am not considering that I should use clickfunnels or some other service instead of doing this, at least to start?
New comment Feb 29
My Client: "This Works"...Me: "Every $3M Helps"
I just finished up a call with a client, they have a new campaign we launched a couple of months ago... They are getting dialed in and already moving a $3M+ client...Every little bit helps. What's kinda funny here is they were competing against a past client for the business. AND...the current client is winning over the past client... It helps to be plugged into the source material and stay plugged in... If you would like one of our Trust Stacking Campaigns and want to be up and running in Q1...Completely done for you...Now is the time to start that discussion. Just shoot me an email:
How Good Advisors and Firms Can Get Extraordinary Growth In 2024...
Let’s look at some numbers... According to a 2022 study by Cerulli Associates... The average financial advisor brings in $1.9 million in new AUM per year. Lower than what most people think. So…to get to $100M in assets…we are talking 52 years. Also from the study: “The top 25% of advisors bring in more than $5.2 million in new AUM per year. "The bottom 25% of advisors bring in less than $600,000 in new AUM per year.” So...the top 25% will get to $100M in about 19 years. Having worked with over 1,300 advisors and firms worldwide… I have witnessed clients go from $10M to $120M in a little over a year. And a few more: $5M to $110M in 3 years $30M to $50M in 1 year. $100M to $200M in 2 years. $15M to $75M in 1 year. And some that quietly add $20M per year after year…and still have plenty of time with their families. Our biggest clients do a lot more than that. Yet… When I jump on calls with people and they ask how we are "different" from all the other options in the industry… I simply point to my client’s ADV which spells it out in black and white. If you're the kind of person who's not content with average... This is something that I've noticed. There are lots of ABOVE-average skill advisors and firms that are AVERAGE or below in new client acquisition. Here are some other observations: If you are buying leads, this often produces average results…even if they are guaranteed, average is still average. I Spoke with an advisor the other day who brought in $7M in AUM over the course of 3 years… let’s break that down and see where it lands on the scales. $7M / 3years = $2.33M/year…Average+. Here is where it stings a lil bit…they spent $72K to do that…that’s a bit more than $10K per $1M AUM acquired. AND…it’s going to take 42 years to get to $100M. Or another advisor who spent $25K and brought in $5M in 3 months…using one of my Trust Stacking Systems. That’s $5K/$1M AUM gathered…About average for cost of acquisition but far above when factoring time frame…
Shhhh...The Secret This Advisor is Using To Bring In $5M/Quarter...🤐
Just spoke with one of our agency clients running our virtual Trust Stacking appointment system... He casually shared he has brought in about $5M since getting started a few months ago...That's pretty good. He is on track to add $20M+ per year...I think they can do about $30M-$40M/year with the current team...It's just 1 advisor and someone helping with back-office stuff. Some feedback I noticed was he could optimize his sales process a little more...but it's not broken, just not optimized yet...I believe a couple of small adjustments in sales process will drive the additional opportunity...nothing more. Also has someone with $24M who wants his help so that will skew the numbers if he takes it on. Anyway...just thought it was cool and worth you can are very unlikely to hear these stories directly from our clients...because...they like to keep some anonymity and keep what is working from the prying copy-cat eyes of this industry. As one of my clients once said about our work...we are one of the best-kept growth secrets in the wealth management industry (they added $100M in 18 months from our work)... AND we still are THAT "secret" for the few who allow us to tweak their businesses for maximum velocity and profit without scaling the amount of time they have to spend working on their business. If you would like to see about getting this type of help... shoot me an email:
1-30 of 49
Maximize profits, get better clients, and have fun building a business you love.
Leaderboard (30-day)
powered by