We’re excited to have XYPN member Kenneth Klabunde, founder of Precedent Asset Management, a fee-only firm in Indianapolis, IN, on the show today. Having previously been on #XYPNRadio nearly four years ago, when his firm was only three years old, Kenneth talks about his experience - specifically in today’s environment - how his company has been able to maintain strong revenue numbers through the recent market volatility, and finally how he and his team have been able to take on and serve new clients during this time.
During this episode, you’ll hear Kenneth highlight the similarities he's seeing in terms of client responses to COVID as he saw during the market downturns of 2001 and 2008 and his rigid communication strategy, which he credits as the reason he and his team haven't received a single panicked phone call or email. Learn as we talk about the future of our industry and the importance of leaning on others both in and out of this industry for inspiration and new ideas.
If you're interested in how to run a hyper-efficient team while giving your clients an unprecedented level of comfort, you won't want to miss this episode.
Listen to the Full Interview:
What You'll Learn from This Episode:
- Catching up with Kenneth since his last appearance on #XYPNRadio and how his niche evolved from just serving physicians to serving physicians going through divorce (00:03:06)
- The pivot and decision to dive deeper into the niche (00:07:22)
- Kenneth's experience during COVID-19 and how this experience mirrors past financial crises (00:11:07)
- How Kenneth’s ongoing “rigid” communications protocol has contributed to his clients' calm reaction in the past 5 weeks (00:20:28)
- Kenneth’s increased revenue despite the market downturn due to the firm’s diversified source of revenue (00:23:56)
- Kenneth’s passion for processes and how his success in leveraging technology has led to process efficiency (00:27:51)
- How Kenneth and his team quantify the time that they spend with each client (00:37:22)
- How clients are finding Kenneth’s firm despite not being a salesman or “loving” marketing (00:44:13)
- Sourcing inspiration from other industry as well as outside industry professionals (00:49:06)
- Parting words of advice for financial planners thinking about starting their own RIA (00:51:03)
Featured on the Show:
- Kenneth Klabunde: Website | LinkedIn
- #XYPNRadio Episode #58
- #XYPNRadio Episode #251
- #FASuccess Ep 094: Crafting Your Optimal Solo Practice By Simply Charging What You’re Worth With James Osborne
- Bob Veres
- Carl Richards
- The Fellowship
This Episode is Sponsored By:
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