Welcome back to the 228th episode of the Financial Advisor Success Podcast!
My guest on today’s podcast is Jeremy Keil. Jeremy is the founder of Keil Financial Partners, a hybrid-RIA in Milwaukee that manages $85 million for 170 clients.
What’s unique about Jeremy, though, is that he’s been able to double his firm’s size over the past two years not by prospecting more aggressively but by leveraging two external lead-generation services, SmartAsset and WiserAdvisor, and then outsourcing all the follow-up outreach to those leads so he spends time meeting only with qualified prospects who want to meet with him (in addition to focusing the rest of his time on his existing clients and other needs of the business).
In this episode, we talk in depth about why Jeremy feels that spending as much as 15% of his gross revenue on marketing generates a good ROI as long as he can generate 15% organic growth from that marketing spend, why Jeremy focused on his branding and refining his retirement planning niche to make sure his messaging resonated with his target audience first, and how Jeremy’s been able to compound the benefits of purchasing leads by publishing a wide array of digital marketing content to nurture those leads in his marketing funnel.
We also talk about Jeremy’s passion for helping his clients with their retirement planning, how he differentiates himself from other advisors focused on retirees by using a “decision-based” financial planning approach that prioritizes those factors that his clients can control (or, at least, influence), why Jeremy has chosen to eschew more mainstream financial planning software packages and instead uses a combination of Income Solver and Holistiplan in tandem to map out his clients’ retirement income and tax planning needs, and how Jeremy has been able to increase his firm’s growth trajectory by building on a number of leads he’s received from SmartAsset to develop expertise in the unique planning needs of local employees of Harley-Davidson.
And be certain to listen to the end, where Jeremy shares how his focus on offering more well-targeted services for his particular niche clientele allows him to charge slightly higher-than-industry-average fees, how Jeremy emphasizes the value of financial planning over investment management work by quickly lowering his AUM fee schedule down as account sizes grow, why Jeremy has found that the pandemic has improved the data-gathering phase of the initial client relationship (and why he’ll keep that process fully virtual even after things return to “normal”), and why Jeremy feels that his most valuable client deliverable isn’t a physical plan that they can hold in their hands, but the post-meeting follow-up email that helps them focus on the steps they’ll be taking next.
And so whether you’re interested in how Jeremy leverages lead-generation services to create consistent growth, how he utilizes Holistiplan and Income Solver to help his clients' plan for their retirement, or how he budgets for his marketing expenses, then we hope you enjoy this episode of the Financial Advisor Success Podcast with Jeremy Keil.