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XYPN Radio

XYPN Radio is dedicated to building a community of fee-only financial planners who are ready to make the dream of serving next-generation clients into a profitable and successful reality. With an honest and forward-thinking perspective, Maddy Roche and guests deliver insights and knowledge to advisors in the financial planning industry who want to build better businesses that serve Gen X and Gen Y clients. Through the expertise of leaders in the field and case studies from financial planners like you, the discovery of how you can serve your own generation to help them achieve their financial goals starts today.
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Now displaying: Page 1
Dec 27, 2023

XYPN member, Matt Miner, founder of Miner Wealth Management, joins us on the show today. Matt started his career on the corporate finance side of business. After a few years, he took a break and went to B school to get his MBA, then worked with John Deere in several capacities before his career was impacted by a layoff related to a merger.

 

His running partner was a fee only advisor and Matt became an intern at that firm. He was responsible for growing his own client base from scratch and shared how he found success getting those early clients. In 2021, after three years, Matt and the firm owner agreed to a buyout structure so that Matt could take his clients with him and ultimately start his own RIA. 

 

Matt was kind enough to share the details of that buyout and how it worked for him and the prior firm owner. Matt has been growing a really awesome firm as he is looking to do more than 350, 000 of revenue in his third year in business.  He shared his approach to fees and how he sees the fighting amongst advisors on the best or right fee structure as unnecessary. And also how he uses his fee as a client segmentation tool to ensure he's working with his ideal clients. 

From company management position to booming RIA in the first 3 years, this is an episode you won’t want to miss!

 



What you’ll learn from this episode

  • How informational interviewing techniques have helped him in both working up the corporate ladder and in securing clients.

  • How going into advising with a fully fledged philosophy of wealth management helped him attract a large client base quickly in the first few years.

  • Alan and Matt discuss the details of what a buyout looks like and how it can compare to building out a business in other ways.

  • How to approach fee structures and the benefits of keeping things simple both for the client and the advisor.

  • The benefit of starting a podcast and how it has impacted Matt’s business.

  • While working for John Deere, Matt moved from trade to business school, graduating in 2013 with a business degree and a job with Intel.

  • After the business was sold, Matt took on a financial advising job with Bridgeline Wealth Management in 2018.

  • In August of 2021, Matt bought out his boss’s share in the business, changing the business to Miner Wealth Management.

  • Alan and Matt discuss the benefit of attending management training programs through companies like John Deere.



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