Ep 029: Attracting Baby Boomers Digitally To A True Retirement Decumulation Specialty with Dana Anspach
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 18 July 2017
⏱️ 103 minutes
🧾️ Download transcript
Summary
Dana Anspach and her firm Sensible Money have 110 full-service baby-boomer clients, $130 million AUM, and $1.3 million in annual revenue. And they do it all virtually.
In this episode, Dana talks about the structure of her firm and how she’s built it into a brand that she hopes will continue long after she’s gone. She also shares how many of her clients were formerly her readers, and talks about how her foundational client questionnaire, followed by a 3-meeting strategy and comprehensive financial plan, leads about 70% of prospects wanting to become full-on clients.
Be sure to listen to the end, where Dana discusses how her writing has formed the backbone of her brand and business, and the schedule she maintains to make sure it all gets done. Dana also shares many of the technological tools that allow Sensible Money to educate, service, and build trust with clients from around the globe.
Get the full show notes and transcript for this episode at: www.kitces.com/29
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 Kitsas. Welcome, everyone. |
| 0:29.1 | Welcome to the 29th episode of the Financial Advisor Success Podcast. My guest on today's podcast is |
| 0:35.4 | Dana Ansbach. Dana is a financial advisor and the founder of |
| 0:38.8 | sensible money, an advisory firm based in Scottsdale, Arizona that manages more than $130 million |
| 0:44.0 | in investable assets for retired or nearly retired baby boomer clients. What's unique about |
| 0:50.1 | Dana's advisory business, though, is that nearly all of her 110 Baby Boomer clients |
| 0:54.7 | work with her firm virtually, from as far away as Hawaii and Alaska, having found her |
| 0:59.7 | specialized retirement planning solutions through her online writing on platforms like about.com's |
| 1:05.2 | Money Over 55 section, Market Watch's retirementers, and by publishing her own book, Control Your Retirement Destiny, |
| 1:12.4 | which together now generate over 100 online prospects every year, |
| 1:16.8 | who fill out a 40-question pre-meeting data gathering form, |
| 1:21.1 | just to have the opportunity to talk to someone on her team about potentially working with the firm. |
| 1:26.2 | In this episode, Dana talks in-depth about how she attracts prospects, screens them, presents |
| 1:32.2 | her services to them, and then onboards them even without ever meeting them in person. |
| 1:37.4 | The exact three meeting financial planning process she uses to generate a nearly $7,000 |
| 1:42.9 | average financial planning fee without needing a separate |
| 1:45.8 | data gathering meeting, and why she chose to use a TAMP, a third-party asset management |
| 1:50.1 | platform, to implement her client portfolios while charging a 1.25% AUM fee for ongoing investment |
... |
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