Welcome, everyone! Welcome to the 61st episode of the Financial Advisor Success Podcast!
My guest on today’s podcast is Mary Beth Storjohann. Mary Beth is the founder of Workable Wealth, a financial planning firm in southern California that in just its first four years has built to more than $200,000 in recurring financial planning fees, serving a Gen X and Gen Y clientele with a combination of upfront planning and ongoing monthly retainer fees.
What’s unique about Mary Beth’s practice, though, is the fact that she’s built it over the past four years while also having two children, who are now 2.5 and 3 months old, respectively.
In this episode, we talk in depth about Mary Beth’s financial planning fee structure, the process she engages in to deliver financial planning value to her typically 30-something or 40-something clientele, why she rarely even uses traditional financial planning software at all for most of her clients, and the unique proactive process she has leveraging software to facilitate regular “check-ins” with clients and actually help ensure they follow-thru and implement all of their financial planning recommendations.
We also talk about how Mary Beth built her own personal support system to help her launch her practice, with a series of Mastermind Study Groups with peer financial advisors at a similar business stage, and an ongoing executive coach relationship to help keep her on task and be her own accountability partner.
And be certain to listen to the end, where Mary Beth shares how she managed to take time off to give birth to her two children, without blowing up the relationship with her clients or losing her marketing and growth momentum, and her suggestions for how female advisors should think through the balancing act of when to start your own firm when you also want to start a family.
So whether you are interested in learning more about profitably serving Gen X and Gen Y clients, have been thinking about joining a Mastermind Study Group of your own, or are interested in how financial advisors can manage the balancing act of starting a firm and starting a family, I hope you enjoy this episode of the Financial Advisor Success podcast!
source https://www.kitces.com/blog/mary-beth-storjohann-workable-wealth-podcast-gen-x-y-professionals-starting-family/?utm_source=rss&utm_medium=rss&utm_campaign=mary-beth-storjohann-workable-wealth-podcast-gen-x-y-professionals-starting-family
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