Welcome back to the 267th episode of the Financial Advisor Success Podcast!
My guest on today's podcast is Jared Siegel. Jared is a partner of Delap Wealth Advisory, a fee-only RIA based in Portland, Ore., that oversees nearly $260 million of assets under management for more than 70 client households.
What's unique about Jared, though, is how he outsources middle- and back-office operations to help his firm concentrate on creating a high-quality, high-touch financial planning experience for its clientele of affluent business owners and real estate investors.
In this episode, we talk in depth about how Jared expanded his firm’s offerings beyond accounting services and into financial planning and asset management to do more work for their existing accounting clients, the way Jared leverages Jay Hughes’ “Qualitative Capital” framework to have better nonfinancial conversations with new clients, and how Jared focuses his financial planning conversations to help his clients use their money to delegate household tasks and leverage their wealth to create more time for themselves.
We also talk about how Jared was reaching a point of unhappiness when he realized he was spending far too much of his own time on tasks he didn’t enjoy (and wasn’t very good at), how Jared’s self-awareness motivated him to center his career on doing the client-facing financial planning he loves rather than dealing with the everyday back-office minutiae, and how Jared was inspired by the outsourcing success of other financial advisory firms to hire a TAMP for himself and outsource his own investment operations.
And be certain to listen to the end, where Jared shares how he was inspired by Angela Duckworth’s book Grit when he was faced with his own challenges in the early days of his business, how Jared eventually got comfortable with the good that comes from adversity and gained an appreciation for how the early failures in his life ultimately shaped him for the better, and the metaphor that Jared learned from a tech entrepreneur about the importance of “finding your tennis ball”… a recognition that like the Labrador that loves to retrieve a tennis ball, when you find the work that truly fits you, it just comes naturally and feels more like play.
So whether you’re interested in learning about how Jared refocused his firm to center his efforts on his financial planning strengths, how Jared concentrates on why money matters to his clients to develop deeper relationships and better outcomes, or how he uses the lessons he learned to motivate him to spend more time on the work he loves, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Jared Siegel.