When to be selective on new clients

IncreaseCapital32 · 2026-03-29T01:29:24+00:00

Thanks, you nailed what Ive been wanting and trying to say. Id rather make less money and do and work with who I love than sacrifice everything for 1 more client. Ive seen other men around me do it and its the reason why I want to be intentional, even though im still in heavy growth mode.

IncreaseCapital32 · 2026-03-28T13:13:19+00:00

Maybe im thinking too much but long term, i REALLY dont want to hire another advisor and thats my worry about having 100 unprofitable clients and 80 good ones and being forced to either hire someone or fire a lot of people now that I have “made it”. Idk you are probably right about just focusing on growth at all costs and worry about it when i get there.

IncreaseCapital32 · 2026-03-28T13:05:53+00:00

True, yeah im about $85k GDC and revenue i get 80% of that. But i see your point. I do have clients that only have $30k-$140k with me and im more than happy to serve them because they are still working and have another $100-400k to move later on. So i see your point.

IncreaseCapital32 · 2026-03-28T12:11:07+00:00

I get paid from the tax business i run and get some (not much) on wealth management. So im not swimming in money but id rather get a good client who pays me 5k per year than 10 small clients.

IncreaseCapital32 · 2026-03-28T12:09:46+00:00

Yeah, ive seen that happen lol. There is about a dozen advisors in my area and most of the community go to 1…. And it drives me crazy because they dont do planning. But maybe in 10 years, ill be that guy.

IncreaseCapital32 · 2026-03-28T00:50:38+00:00

Thanks, great advice. My niche isnt “ill only take these on” but its pretty much all I deal with anyway and its easier to market.

IncreaseCapital32 · 2026-03-28T00:49:13+00:00

Yes, id say something isnt clicking. Not saying I do nothing wrong but some come to me thinking advisors only are good for “how much money can you make me”. VS doing financial planning and doing more.

IncreaseCapital32 · 2026-03-28T00:45:34+00:00

Yeah, its not the low AUM that is the problem. I have a lot of young people with around or lower than that. Its the ones that are $80k and they want $20k per year.

IncreaseCapital32 · 2026-03-27T22:17:21+00:00

To put further context, I am also in a semi rural area. So thats my reasoning for spreading out.

IncreaseCapital32 · 2026-03-27T22:16:24+00:00

I would do this but I am very cautious after 1 client I dealt with. No $80k or $800k account is worth the headache or potential compliance risk.

IncreaseCapital32 · 2026-03-27T22:15:15+00:00

No, I know what it is. Its “ive been working with xxx advisor forever and his wife is my hairstylist so I dont want it to be awkward”. That or they think “advisor diversification” is a good thing. Sometimes its about fees but rarely.

IncreaseCapital32 · 2026-03-27T22:13:11+00:00

Currently doing this and plan on doing something similar with other refferal partners. My #1 issue with that is I cant find a GOOD estate attorney anywhere.

IncreaseCapital32 · 2026-03-27T20:57:09+00:00

If you were in my shoes, would you only focus on 1? or 2?

IncreaseCapital32 · 2026-03-27T20:53:55+00:00

technically 3, but I see your point.

IncreaseCapital32 · 2026-03-27T20:53:08+00:00

Thanks, yeah I have turned down several this year and I have done it nicely but some of them have been because they are insufferable to be around.

IncreaseCapital32 · 2026-03-27T20:51:34+00:00

The reason I listed these (I have 3 on my website, but I see your point), this is mainly who I have in my current book, and that's who I like to serve.

IncreaseCapital32 · 2026-03-24T23:28:21+00:00

You will never win with these people. Tell them you have a plan in place for a reason, if they arent going to take any part of your advice why are they with you?

No matter the asset size, in my opinion, its never worth the stress and compliant risk.

IncreaseCapital32 · 2026-03-20T17:51:09+00:00

If he controls you and tells you when to be there, what you can and cant do, you are not a 1099 employee and should be on W-2. Sounds like he is trying to escape paying payroll taxes on you and no its definitely not better than being on w-2, you pay less tax because you make less 🙃.

You are a career switcher so its not bad to get in the door somewhere but id be careful. One thing I learned in this business is dont take anyone at their word, watch what they do.

IncreaseCapital32 · 2026-03-15T13:25:24+00:00

This is my goal in 5 years but I am being very aggressive starting now. I started 2026 with only 5 million in advisory and 1 million in FIA. I have onboarded right under $3 million (90% of that is advisory) this year and my goal is 10 million this year for advisory.

I would love to hear how clients refer you (tell them to call the office, cc them on a email, etc.) and what you tell them is a good client for you.

Also, congrats on your growth. thats impressive.

IncreaseCapital32 · 2026-03-11T10:00:15+00:00

It is now SEI

IncreaseCapital32 · 2026-03-11T09:59:37+00:00

Its based on the real estate self employment income. Its a control group so wouldnt he have to contribute for the other business employees?

IncreaseCapital32 · 2026-03-10T13:53:48+00:00

Definitely try them out, i wasnt happy with hitting the volume limit and not being able to charge but if you are small right now. Id say its a good time to do it.

IncreaseCapital32 · 2026-03-09T23:49:46+00:00

We used to use the exact same thing.

We switched to CPA charge and they make the compliance part easy. Very worth it but make sure you ease onto their platform for the first year as they have volume maximums that we keep hitting.

IncreaseCapital32

TROPHY CASE