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Michael Kitces’ #FASuccess Podcast: How Matthew Blocki Transitioned from Insurance to Financial Planning

Matthew Blocki tells Michael Kitces how he transitioned his practice from more than 100 transactional insurance clients a year to focusing now on his 15 affluent clients.

Welcome, everyone! Welcome to the 80th episode of the Financial Advisor Success Podcast!

My guest on today’s podcast is Matthew Blocki. Matthew is a 30-year-old financial advisor with a niche practice of serving physicians and retirees, who has grown to nearly $70 million in assets under management and $800,000 of revenue in just 8 years.

What’s also unique about Matthew is how he built his niche financial planning practice by starting out at a major life insurance company, Northwestern Mutual, and quickly evolved his business from nearly 100 insurance clients per year to a hyperfocused practice that’s aiming to grow with 15 affluent clients per year instead.

In this episode, Matthew talks in detail about how he focused in the early years by engaging in the “right” activity from the start, the networks he tapped out of the gate just to get some initial traction, the way he leveraged LinkedIn to expand his network to reach new prospects, and how he learned the importance of being “professionally persistent” and always following up with prospects at least three times before giving up.

We also talk about the way Matthew differentiated himself as a 20-something advisor working with retirees, and how that evolved into two niches working with retirees and young physicians, the unique and “non-traditional” advice services he provides to his young doctor clients in particular to distinguish himself and build a connection, and why it’s so important to not just offer what’s traditionally considered financial planning services to clients, but what it is that they’re truly stressed about that keeps them up at night.

And be certain to listen to the end, where Matthew talks about how having coaches and finding mentors has helped to shape his career in the early years, the importance of learning about and knowing yourself to find your own strengths, and why you only have to be slightly better than the competition to come out exponentially ahead in your business.

So whether you are interested in learning more transitioning from a broad transactional business to a hyperfocused advisory niche, how LinkedIn can be used to expand your network and reach out to new prospects or how a 20-something advisor can build a niche working with physicians and retirees, I hope you enjoy this episode of the Financial Advisor Success podcast!

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TAGS: Careers
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