We routinely receive requests for more shows with established planners who’ve found success implementing the strategies we champion, especially around defining your niche.
Joe Messinger of Capstone Wealth Partners is the perfect example of an advisor running a firm doing just that. He specializes in helping families create a comprehensive college funding plan to maximize financial aid, minimize taxes, and effectively save for retirement at the same time.
Joe transitioned into financial planning in 2003. He worked in a commission-based insurance sales position. While he enjoyed early successes and experienced remarkable career growth, he grew increasingly uncomfortable with the service he was providing.
By 2009, there were fewer barriers to entry to starting an independent financial planning firm. Joe and his a business partner started a fee-only RIA from scratch in that year.
Previous years in the industry exposed Joe to the fact that there was limited information widely available on saving for higher education and the right way to go about college planning. The market had a need and Joe decided to provide a solution. He developed a strong expertise in college planning that’s made him a sought after resource and public speaker on the topic. He also enjoys a constant stream of referrals he can trace back to his specific niche.
Today, Joe shares his experience and goes beyond what it takes to start a firm. Planners interested in a roadmap for growing a business beyond the start-up phase will find this episode extremely valuable.
Listen to the Full Interview:
What You’ll Learn from This Episode:
- What a Chartered Life Underwriter (CLU) designation is and whether fee-only planners should have one.
- How Joe sold a book of business at 27.
- The tipping point which caused Joe to move away from working in commission-based financial planning.
- How to define a niche market.
- Successful strategies Joe used to market his business within the school system.
- The Capstone Wealth Partners fee structure and service model for new clients.
- The plans in place to service clients beyond a college planning time frame.
Featured on the Show:
- XYPN Radio VIP Community
- Capstone Wealth Partners
- Lynn O’Shaughnessy
- Troy Onink
- The Opposite of Spoiled by Ron Lieber