Welcome everybody! Welcome to the 405th episode of the Monetary Advisor Success Podcast!
My visitor on at present’s podcast is Gaetano Sacco. Gaetano is a accomplice and senior monetary advisor at Fountainhead Advisors, an RIA based mostly in Warren, New Jersey, that oversees roughly $900 million in property beneath administration for 1,000 consumer households.
What’s distinctive about Gaetano, although, is how after breaking away from an insurance coverage broker-dealer with barely $5M in property beneath administration, he has been in a position to rapidly construct his observe to $75 million in AUM in simply 5 years partly by turning what was initially a legal responsibility for him in his 20s – being a ‘younger’ advisor who potential purchasers did not all the time assume was credible – into an asset, the place Gaetano is now rapidly rising his consumer base of retirees by highlighting how his ‘youthfulness’ as a 30-something means he is been round lengthy sufficient to indicate that he will be a monetary advisor for the long term, and nonetheless younger sufficient that he can do that for one more 30 years and truly be their monetary advisor for his or her whole retirement (or principally, the final advisor they’re going to have to fret about selecting of their lifetime).
On this episode, we speak in-depth about Gaetano’s expertise working in insurance coverage gross sales beginning quickly after he graduated from school, together with why the necessity to cold-call for enterprise as a relative newcomer was each a problem and a confidence-builder as he began to achieve traction promoting insurance coverage merchandise and a few standalone monetary plans, the components that finally led Gaetano to resolve to make the change from insurance coverage to the RIA channel and depart pals and mentors he had made within the insurance coverage world regardless of the success he was having there after profitable “Monetary Planner of the Yr” in his area of the corporate, and the way Gaetano, now in his late 30s, has discovered his age to be an asset, as getting married and having children has given him new views in life to have the ability to higher associated to his purchasers and prospects, his years of expertise reveals that he has credible success, and his comparatively younger age helps him reassure his older purchasers that he can actually be there for them in the long term.
We additionally speak about how Gaetano has constructed his present observe as much as $75 million in simply 5 years partly via consumer referrals that got here after he obtained actually proactive in addressing consumer considerations (from cellphone calls to webinars to further written commentary and even crafting an experience on PPP loans whereas they had been out there) through the COVID-induced market downturn, how Gaetano has since used in-person consumer appreciation occasions, together with restaurant crawls and entertaining purchasers at a preferred horse race, to each construct loyalty amongst his present purchasers and to generate heat introductions to the buddies that his present purchasers convey to those occasions, and the way Gaetano expanded his succesful to have the ability to serve his 150 purchasers partly by empowering a more recent advisor to tackle plan-building and client-facing duties whereas constructing his personal ebook of enterprise.
And be sure to hearken to the top, the place Gaetano shares how becoming a member of an advisor research group, and its structured cadence of two multi-day conferences yearly, has guided him via a number of modifications that allowed him to degree up his personal observe, why Gaetano turned down his first probably profitable job provide with an RIA due to the unhealthy vibes he obtained from the agency and its management, and the way Gaetano’s realization that he needed to work within the monetary recommendation enterprise for the long term influenced his resolution to pursue a extra planning-centric profession path… that provides him the chance to get up day by day excited to fulfill along with his purchasers (whereas nonetheless having the ability to preserve a powerful work-life steadiness).
So, whether or not you are occupied with studying about gaining credibility as a ‘younger’ advisor, driving consumer referrals via a proactive service expertise, or the skilled advantages of taking part in an advisor research group, then we hope you get pleasure from this episode of the Monetary Advisor Success podcast, with Gaetano Sacco.
