Planning Beyond the First Six Months with Michael Kitces

Steven Atkinson
February 7, 2022

Why are some advisors able to consistently grow their businesses, while others stagnate? Michael Kitces, Head of Planning Strategy at Buckingham, is here to define those small but powerful differences.

Like many advisors, Michael got his start in the insurance business, struggling to prospect anyone who’d listen. While his entry into the industry is certainly far from unique, the lessons he derived from a brief stint pushing product are somewhat revolutionary.

Michael believes this product-based introduction leaves advisors with unwanted professional baggage. Why? Because when it comes to building a business that lasts, propositioning every warm body doesn’t help you hone your niche or establish invaluable credibility. Becoming an expert, striving for consistency, and the practice of ongoing planning seal the deal.

In this episode, Steve and Michael discuss Michael’s other must-haves for success in the industry, his surprising take on fee compressions, planning for the long haul, and the inevitable evolution of financial planning.

“Frankly I think there’s actually a bit of a gap in the marketplace today. Planning software is really good at what to do in the first three to six months of a 30-year client relationship, and kind of weak about supporting the next 29-and-a-half years.” ~ Michael Kitces

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Steve Atkinson

Steven Atkinson

Managing Director, Advisor Relations

For 25 years Steve has helped advisors get into the RIA space and/or helped them grow by developing and sharing a variety of client experience best practices. Steve was an original architect of Buckingham’s Design | Build | Protect® client experience process along with the Life Discovery and Feedforward programs. Steve is also an author of The Wealth Solution and 27 Principles Every Investor Should Know. He is also the host of the Admired Advisor podcast. Steve is a graduate of the University of Nebraska at Omaha with a Bachelor’s in Finance and Investment Banking. Steve lives in Edwards, CO and enjoys spending time with his daughters skiing in the winter or golfing in the summer .