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RIA Growth through Scalable Client Acquisition Models with Ron Bullis

Sep 7, 2021

Ron Bullis is the Co-Founder and CEO of Lifeworks Advisors, a modern Registered Investment Advisor (RIA) and technology firm striving to push the boundaries of wealth management. Lifeworks Advisors disrupts outdated business models and delivers personalized solutions to clients and advisors through their modern software platform. After working as a Wealth Management Advisor for almost a decade with Northwestern Mutual, Ron co-founded Lifeworks to help people simplify their financial lives, live “above the grind,” and focus on what matters most. In addition to his work with Lifeworks, Ron is also the President and Founder of The Ella Bullis Foundation, an organization dedicated to supporting families impacted by premature birth and infant loss.

 

Ron joins me today to discuss the keys to RIA growth through a solid client acquisition process. He shares his principles for building a team and explains why leaders shouldn’t only choose team players based on the revenue they can deliver for the business. He underscores the importance of cultivating relationships with clients based on trust and emphasizes why advisors need to deliver value beyond their clients’ assets. He also highlights how social media and digital platforms can bridge the most challenging gaps financial advisors face.

 

“One of the keys to building a business is creating a scalable and predictable client acquisition system.” - Ron Bullis

 

This week on The Model FA Podcast:

 

  • How Ron’s business model and mindset have evolved after coming into the RIA industry
  • Ron’s insurance philosophy and how it has shifted over time
  • Ron’s success principles and how he and his team grew Lifeworks Advisors
  • Building a scalable and predictable client acquisition system
  • Growing and scaling a business in the new normal
  • Leveraging social media platforms to grow an RIA in uncertain times
  • Designing a client acquisition system based on trust and why Ron is passionate about client experience
  • Cultivating an enterprise value that serves clients across generations
  • Leading a world-class team that adds value beyond revenue
  • The Feedback Marketing Method and the difference between fee compression and margin compression
  • How financial advisors can communicate their organization's exceptional value
  • The importance of focusing on a specific demographic 
  • The role of a digital marketing platform in a sustainable client acquisition system

 

Resources Mentioned:

 

 

Our Favorite Quotes:

 

  • “There’s something about meeting an advisor for the first time that has some level of intimidation. If you can soften that by exposing them to who you are, it’s only going to help.” - David DeCelle
  • “Advisors who don’t focus on a specific group of people get stuck on making different types of promises upfront and later realize they can’t scale it.” - David DeCelle
  • “The work advisors do is noble. We have an important role to play, whether we envision ourselves as a life coach, accountability partner, or co-pilot.” - Ron Bullis

 

Connect with Ron Bullis:

 

 

About the Model FA Podcast

 

The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes  to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams. 

 

Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. 

 

Our Team:

President of Model FA, David DeCelle

 

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