Financial Advisor Success Podcast Ep. 428
Title: Leveraging (Salesforce) CRM To Really Systematize A Mid-Sized Advisory Firm
Host: Michael Kitces
Guest: Lorie Jones, Wealth Manager, Fearless Financial Advisors
Date: March 11, 2025
Overview
In Episode 428, Michael Kitces sits down with Lorie Jones, Wealth Manager at Fearless Financial Advisors and former head of operations at Fidelis Wealth Advisors. Lorie shares her journey from administrative beginnings through a self-propelled rise to leadership, highlighting how she transformed her firm by customizing Salesforce CRM—without a developer. Lorie offers a tactical inside look at building systematized workflows, leveraging “magic buttons” and “clicks, not code,” all while managing career evolution, parenting five children, and ultimately stepping into her own as a full-time advisor and advocate for women in finance.
Main Themes & Purpose
- Unlocking the power of Salesforce CRM for mid-sized advisory firms—without expensive developers.
- Transforming operations into systematic, scalable processes for efficiency and team adoption.
- Career evolution: From secretary, to operations lead, to advisor, to business owner.
- Championing women in finance and mentorship as pivotal for professional and personal growth.
Key Discussion Points & Insights
1. Why Salesforce? The Case for Highly Customizable CRM
- Salesforce as the “Ferrari” of CRMs: Offers “endless possibilities” (“If it isn’t in Salesforce, it didn’t happen.” — Lorie, 05:01).
- Customization is key: Other CRMs hit roadblocks, but “if there’s something I can dream up, I can make Salesforce do it. I just have to ask it the right way.” (05:43)
- Barrier: Customization requires up-front time and effort, but the payoff grows with every repeated process.
2. “Clicks, Not Code”: How Lorie Built Automation Without Programming
- Explanation: Salesforce’s shift to “clicks, not code” allows non-developers to build automations using drag-and-drop tools (10:49, 10:58).
- Magic Buttons:
- Custom buttons trigger workflows embedded directly in client records.
- Team members initiate complex workflows (like money moves, onboarding, closing accounts) by “just pushing a button” and answering a few prompts.
- Example flow: Move Money Button automates client money movements, tracks confirmation steps, and assigns tasks to advisors, paraplanners, and traders (13:29–16:20).
Notable Quote:
“My job is figuring out what’s the code, what’s the process, to make the end user have that really great experience where the robots are doing all the work.” — Lorie (06:24)
3. Real-World Workflow Examples (Magic Buttons in Action)
- Move Money Flow (13:29–16:20):
- Prompts for details (distribution/contribution, account selection, amount, verbal confirmation).
- Triggers tasks to appropriate team members automatically (advisor, paraplanner, trader).
- Onboarding Tasks:
- Gathers all info on one Salesforce page, populates connected systems (eMoney, Nitrogen), reduces redundant entry (19:13–20:34).
- Closing Accounts:
- One button removes client from newsletters, marks accounts inactive, initiates final billing processes and task reminders (34:04).
- Automated Prospect-to-Client Transitions:
- Updating fields, assigning paraplanners, newsletter inclusion (32:23).
Notable Quote:
“If I’ve got a new person, I found myself doing so much training… I can embed videos for how to do this piece and… as they’re inputting this client into eMoney, they’ve got six steps underneath with instructions.” — Lorie (24:12)
4. Overlays & Implementation Choices: Accelerate vs. Direct Salesforce
- Lorie’s Path:
- Built in both Accelerate overlay and direct Salesforce at different firms.
- Prefers Accelerate: “cheaper, better customer service, and I can do all the things I want as well” (29:46–30:17).
- Pros/Cons:
- Accelerate: $70–$75/user/month (30:59), no leads section but better for smaller firms.
- Financial Services Cloud (Salesforce): $200/user/month, with additional features but not necessarily increased utility for advisors.
- Advice: Get basic Salesforce or a light overlay so you control workflow customizations that fit your unique firm processes (25:53–26:50).
5. Team Buy-In & Adoption
- User-Centric Design: The easier the process (“just push a button”), the faster the team adopts.
- Demand-Driven Development: Team actively requests more automated processes once they see the benefits (35:14–35:49).
Notable Quote:
“My main goal is making it easy for the end user… They actually are begging about half the time, ‘Can you make a process for this so I don’t have to do it?’” — Lorie (35:14)
6. Career Path: From Admin to Owner to Niche Practice
- Route:
- Entered industry as secretary after raising five kids (“I didn’t even know what an IRA was.” — 44:03).
- Self-taught via nights/weekends, picked up insurance and trading licenses, completed MBA and CFP (45:12–45:38).
- Progressed through operations, team building, and training, until crisis (partner’s absence) pushed her into client-facing advisory—the turning point.
- Discovering Advisor Identity:
- Didn’t see herself as an advisor, but after running client meetings in a pinch realized, “I learned that I loved it… I could be a really good advisor.” (57:22)
Notable Quote:
“It was just a mindset change between seeing yourself as support staff and seeing yourself as the advisor. I’ve got all the credentials… I can do this, but I never saw myself as the advisor until I was one.” — Lorie (58:43)
7. Entrepreneurship & Navigating Burnout
- The Split:
- Firm grew; juggling operations and advisory roles became unsustainable (“I was working 12–16 hour days every day.” — 66:44).
- Made hard decision to step away from operations, carve out a DBA (Doing Business As) “Fearless Financial Advisors” under parent RIA.
- Transition was “discombobulated and abrupt,” but necessary to focus on best client service and personal well-being (69:41).
- Current State:
- Manages $30M AUM across 88 clients (74:34–75:16).
- Focuses primarily on high-net-worth women who want (or need) to take charge of their financial future, often post-divorce or widowhood.
Notable Quote:
“There’s a problem that a lot of professional women have, this idea that… burnout was coming, and I wasn’t even willing to admit it was real.” — Lorie (66:44)
8. Building Community and Fearless Females
- Mentorship Matters:
- Lorie started internal “Welcoming Women to the Room” chats, which blossomed into her “Fearless Females” podcast (62:32–66:10).
- Conversations with other successful women inspired her to build confidence and develop her own client base.
- Advocates for more flexible pathways for women from support roles to advisory roles.
Notable Quote:
“Finance is fun. It’s like making dreams come true. And it comes with spreadsheets and databases, which are the best in the world.” — Lorie (77:36)
9. Overcoming Loneliness in Entrepreneurship
- The Unexpected Low:
- Starting her own practice was lonelier than expected.
- “I sort of thought that when it was my turn, that there’d be someone there to help me build my business. It was a lot lonelier than that, and it was a lot harder, and that was a real low point.” (78:37)
- Support System:
- Mentorship and community among women professionals were critical to moving past the toughest early months (80:49).
Notable Quote:
“If I could go back, I would tell myself: Be fearless. You can do this. People will help. It isn’t too hard or too complicated… You belong here.” — Lorie (83:12)
10. Defining Success
- Personal Story:
- Lorie’s son survived a school shooting by acting courageously, an event that reframed her concept of success as impacting others’ lives, even in small but meaningful ways (85:56–89:08).
- Ripples of Impact:
- Success is about making a difference, “just one little difference, it has ripples.”
Notable Quote:
“If I can stand up and make a difference in somebody’s life… If I can make a difference, just one little difference, it has ripples.” — Lorie (89:08)
Notable Quotes & Memorable Moments
-
On automation mindset:
“If it isn’t in Salesforce, it didn’t happen.” (05:01)
-
On process design:
“The main goal is making it easy for the end user… They’re begging: ‘Can you make a process for this so I don’t have to do it?’” (35:14)
-
On transformation:
“I was scared to death to go out on my own and be an advisor… I sort of thought that most of my career was spent building other people’s businesses… It was a lot lonelier than that, and it was a lot harder…” (78:37)
-
On perseverance:
“Be fearless. You can do this. People will help.” (83:12)
-
On legacy and meaning:
“If I can stand up and make a difference in somebody’s life… it has ripples.” (89:08)
Timestamps for Key Segments
| Timestamp | Segment | |-------------|------------------------------------------------------| | 03:05–05:43 | Why Salesforce? Customization and flexibility | | 07:40–10:49 | Building processes: Auto-identifying repetitive tasks| | 13:29–16:20 | “Move Money” Flow: Step-by-step automation | | 24:12–25:29 | Embedding training and reducing onboarding time | | 25:53–30:59 | Accelerate vs. Direct Salesforce; pricing and features| | 35:14–35:49 | Team adoption: “begging” for more automation | | 40:14–43:44 | Lorie’s career journey: from admin to advisor | | 62:32–66:10 | Starting the “Fearless Females” podcast; selling herself| | 66:44–69:41 | Burnout, hard decisions, transition to own practice | | 78:37–80:49 | Loneliness in entrepreneurship; finding support | | 85:56–89:08 | Defining success: making a difference |
Conclusions & Useful Takeaways
- CRMs can be transformed from digital Rolodexes into firm-wide efficiency hubs through thoughtful workflow automations and process mapping—no developer needed.
- “Magic buttons” and “clicks, not code” empower small to mid-sized firms to achieve the sophistication of larger firms at accessible costs (Accelerate $70–$75/user/month).
- Mentorship, self-belief, and authentic leadership—not just tech skills—are essential to building a resilient, impactful advisory practice.
- Burnout is real in dual roles; clarity of purpose and personal boundaries are necessary for long-term success and well-being.
- Women in finance can build their own tables, and supportive mentorship makes a real difference.
For more resources from Lorie Jones and Michael Kitces, visit: