We’re excited to have XYPN member Todd Pouliot, owner of Gateway Financial, a fee-only firm out of Northfield, OH, on the show today. Todd started his career spending time as a captive insurance agent and a long-time rep at a broker-dealer.
In this episode, Todd talks about his evolution to understanding the responsibilities of being a fee-only fiduciary advisor, and how that drove his ultimate decision to open his own firm. He walks us through his experience firing clients, transitioning them over, and eventually acting as a fully independent RIA. Todd speaks to the movement within our industry as being an evolution—not a revolution—and how he feels more deeply committed to his duty as an advisor than ever before. Todd serves nearly 60 clients and utilizes the support of virtual assistants to maintain balance and efficiency within his firm, but plans to hire virtually as he continues to grow. Todd shares his experience of finally finding a community of like-minded advisors, and how giving back, learning, and growing stay at the forefront of his purpose. Todd’s fee-only and fiduciary commitment to his clients drives all aspects of his business.
If you want to learn about what it’s like to transition from a broker-dealer to an independent RIA, and the fiduciary and fee-only commitments that come along with it, then this show is for you.
Listen to the Full Interview:
What You'll Learn from This Episode:
- The story of how Todd broke away from the broker-dealer industry and into the fee-only and fiduciary space (00:03:42)
- How the switch from B/D to his own firm required Todd to change his client base and fire about 40% of his clients (00:10:52)
- The capacity of Todd and his firm and how virtual assistants help him scale (00:16:07)
- Todd’s ideal prospective client (00:24:19)
- A walkthrough of Todd’s fee structure and digestible appeal behind it (00:26:30)
- How important community and sharing ideas are to being a successful advisor (00:30:36)
- Todd’s firm launch through COVID and how he is attempting to reach his ideal virtual practice routine (00:35:53)
- Todd’s vision for the future of the industry as an evolution rather than a revolution (00:41:29)
- The fundamental question behind how Todd works with clients (00:43:09)
Featured on the Show:
- Todd Pouliot: Website | LinkedIn |Gateway Financial Video
- CERTIFIED FINANCIAL PLANNER™
- Financial Advisor Success Podcast
- XYPN BUILD
- XYPN Member Forums
This Episode is Sponsored By:
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