Advisor Marketing Made Simple: Episode Summary Title: Advice Line: How to Refine Messaging to Attract More Qualified Prospects (Rachael Burns)
Release Date: May 7, 2025
Hosts: Taylor Schulte and Kendra Wright
Guest: Rachel Burns, True Worth Financial Planning

1. Introduction

In this episode of Advisor Marketing Made Simple, hosts Taylor Schulte and Kendra Wright welcome Rachel Burns from True Worth Financial Planning. Rachel brings her extensive experience as a financial advisor since 2007 and a firm owner for the past five years. Currently managing $20 million in assets under management (AUM) with a revenue of $120,000, Rachel aims to scale her business to $350,000 in revenue over the next five years by serving 35 clients.

2. Guest Introduction: Rachel Burns

[00:00] Kendra:
"Today's guest is Rachel from True Worth Financial Planning. She's been in the industry since 2007 and running her own firm for five years."

[00:41] Rachel:
"Sure. So I'm Rachel Burns. My firm is called True Worth Financial Planning and I'm based in Granite Bay, California, which is a very small suburb outside of Sacramento."

3. Rachel's Business Goals and Challenges

Rachel's primary objective is to grow the investment management side of her business to attract higher net worth clients. She seeks to leverage and refine her Circle of Influence (COI) network to generate more quality prospects. Additionally, Rachel is grappling with managing her mid-divorce services, which are time-consuming and less profitable.

[00:53] Rachel:
"My goal is to grow the investment management side of my business and attract higher net worth clients. But the question I have is how do I do that?... Also, trying to harness some of the interests that I've had in the divorce work in a way that's a little less chaotic, a little more profitable..."

4. Balancing Mid-Divorce and Post-Divorce Services

Rachel divides her services into two main areas:

1. Investment Management Clients:
   These include widows and individuals who have already finalized their divorce and have substantial assets, meeting her $3 million minimum requirement for investment management.

2. Mid-Divorce Services:
   As a Certified Divorce Financial Analyst (CDFA), Rachel offers consulting services during the divorce process, typically on an hourly or flat fee basis. However, only about 15% of these mid-divorce clients meet the high-net-worth criteria necessary for her investment management services.

[02:40] Rachel:
"Not that many, unfortunately. Probably like 15%. So a lot of the prospects that have been coming in have been on the lower net worth side..."

5. Strategies to Refine Messaging and Attract High-Quality Prospects

Kendra and Taylor guide Rachel to focus on post-divorce clients who are more likely to become profitable, long-term investment management clients. They discuss the importance of refining her messaging to clearly outline the client journey from mid-divorce assistance to post-divorce financial planning.

[10:05] Rachel:
"I didn't originally set out to work with people in the middle of divorce... But I was responding to that need."

6. Structuring Service Offerings and Pricing Models

The hosts suggest restructuring Rachel's service offerings to create a systematized approach that seamlessly transitions clients from mid-divorce consulting to post-divorce investment management. They recommend:

• Introducing a Premium Fee Structure:
  Moving away from the more affordable $1,997 fee to a higher one-time or quarterly fee that aligns with the high-net-worth clientele.

• Setting Clear Expectations:
  Communicating upfront about the transition from mid-divorce services to long-term wealth management to ensure clients understand the value and ongoing relationship.

[16:27] Rachel:
"That sounds great. And that's a piece that I've been missing... So I really love that you do."

7. Optimizing the Circle of Influence (COI) Network

Taylor emphasizes the critical role of COI training. By educating her COIs on the specific type of clients she serves, Rachel can ensure that referrals are better aligned with her ideal client profile. Additionally, implementing a process to handle unsuitable referrals without damaging her relationships is essential.

[22:47] Rachel:
"Yeah, that sounds, that sounds great. And I've struggled with like, how do I charge? That's like the age old question for me."

8. Website and Lead Qualification Enhancements

To improve lead quality, Kendra and Taylor recommend revamping Rachel's website messaging to clearly target post-divorce clients. Additionally, incorporating pre-qualification forms with conditional logic can help filter out non-ideal prospects before they book consultations.

[35:52] Rachel:
"I set up one of those forms because I love conditional logic. It's like my favorite thing."

9. Addressing Multiple Niches: Divorces and Widows

Rachel also serves widows, though they represent a smaller segment of her clientele. The hosts advise focusing primarily on the divorcee market to streamline her marketing efforts, suggesting that widows can be addressed once the divorcee funnel is optimized.

[37:00] Rachel:
"One thing that we didn't address are the widows... I do really enjoy working with widows there."

10. Key Takeaways and Next Steps

Rachel's biggest takeaway from the discussion is the need to revamp her mid-divorce service with appropriate pricing and clear communication of the client journey. By focusing on post-divorce clients and refining her COI network, Rachel aims to attract more qualified, high-net-worth prospects while reducing time spent on less profitable consultations.

[40:29] Rachel:
"I just love the idea of revamping the Mid Divorce service so that it's priced appropriately... And then having this be something that's easier to communicate to COIs."

Next Steps for Rachel:

1. Revamp Mid-Divorce Services:

   • Adjust pricing to a higher, premium fee structure.
   • Clearly define the scope and duration of services to avoid open-ended engagements.

2. Refine Website Messaging:

   • Update headers and subheaders to target post-divorce financial planning.
   • Emphasize transforming divorce settlements into sustainable retirement income.

3. Implement Pre-Qualification Forms:

   • Use conditional logic to filter leads based on asset thresholds and referral sources.

4. Focus COI Training:

   • Educate COIs on the ideal client profile.
   • Establish processes for handling unsuitable referrals.

5. Evaluate Niche Expansion:

   • Consider addressing widows once the primary divorcee funnel is optimized.

Conclusion

This episode provides valuable insights for financial advisors like Rachel Burns who are looking to refine their marketing messages and attract more qualified prospects. By focusing on clear client journeys, appropriate pricing strategies, and optimizing COI networks, advisors can streamline their efforts and achieve sustainable business growth.

Notable Quotes:

• Rachel (00:53):
  "My goal is to grow the investment management side of my business and attract higher net worth clients."

• Taylor (07:35):
  "I think your biggest problem is maybe twofold... train your COIs properly..."

• Kendra (28:28):
  "We turn your divorce settlement into income you can live off for the years ahead."

For more detailed strategies and actionable steps, listeners are encouraged to tune into the full episode and explore the resources shared by Taylor and Kendra.