Ep 023: Delivering Workplace Financial Wellness With A Salaried CFP Career Path with Liz Davidson
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 6 June 2017
⏱️ 81 minutes
🧾️ Download transcript
Summary
Today’s guest has a very uncommon structure for her financial consulting business. Liz Davidson is trailblazing a business model where her firm is paid by employers to educate and guide employees’ financial lives. They are now the largest provider of workplace financial wellness programs in the business.
It has been a long process of tinkering and refining to figure out precisely how to deliver value to the wide range of employees that Financial Finesse serves. Liz explains her multichannel approach to serving clients and scaling her team’s expertise.
Get the full show notes and transcript for this episode at: www.kitces.com/23
Transcript
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| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner, |
| 0:08.4 | speaker and consultant Michael Kitsis to hear stories of how leading financial advisors |
| 0:13.6 | navigated the inevitable challenges that arise on the path to success and get insight from leading |
| 0:19.2 | industry consultants about how to break through to the |
| 0:22.0 | next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:29.4 | Welcome to the 23rd episode of the Financial Advisor Success podcast. My guest on today's |
| 0:35.0 | podcast is Liz Davidson. Liz is the founder of financial finesse, |
| 0:39.3 | the largest independent provider of workplace financial wellness programs that leverages CFP |
| 0:44.2 | professionals to provide financial education and financial coaching to employees in the workplace. |
| 0:49.7 | And what's fascinating about Liz's firm is that in a world where most financial services |
| 0:53.6 | providers aim to deliver financial wellness and education, either as a lead-in to sell what's fascinating about Liz's firm is that in a world where most financial services providers |
| 0:54.2 | aim to deliver financial wellness and education, either as a lead-in to selling a product or an |
| 0:59.4 | avenue to maybe build lucrative advisory relationships with executives and key employees, |
| 1:04.5 | financial finesse is truly dedicated simply helping employees improve their financial wellness |
| 1:09.1 | and is paid solely on a flat fee basis |
| 1:11.3 | from employers to provide those services with no back-end sales or product commissions. |
| 1:16.7 | And in this episode, Liz shares the way that financial finesse justifies and demonstrates to |
| 1:20.9 | employers how paying to improve the financial wellness of employees really does lead to a |
| 1:25.8 | return on investment for the employer, |
| 1:28.0 | reducing everything from employee absenteeism to health care claims, and how they reach employees |
| 1:33.5 | through a combination of an online platform, one-to-many workshops, and one-to-one coaching, |
| 1:39.0 | and all the ways that they tried and failed to approach that challenge of financial wellness and a direct-to-consumer |
... |
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