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5/28/2021 Horsesmouth | Larry Frank
https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 1/6
Quick Overview
Quick Overview
Sign Up for Coffee With Larry: Helping New Clients Find and
Come to Like You Online
What’s Working Now: Larry Frank is a solo advisor in the second half of his career who has created a
potent virtual environment that attracts eyeballs…and clients. He makes it really easy for folks
browsing online to learn more about him on their own schedule and in their own way.
Editor’s note: In this edition of What’s Working Now, an AdvisorRADIO feature in
which Horsesmouth members tell us about recent success they have had running and
growing their businesses, we hear from advisor Larry Frank, whose comprehensive and
transparent website answers prospects’ questions and gets them asking him for
meetings.
In this article, Chris Holman introduces Larry and puts his practice in context, then there
is an edited version of Larry’s remarks. Or you can watch the full interview in the video
below.
May 28, 2021 / By Larry Frank with Chris Holman
25:40
https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-
and-come-to-like-you-online
Consumer link: http://www.horsesmouth.com/_3n4X
5/28/2021 Horsesmouth | Larry Frank
https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 2/6
Guest: Larry Frank
Roseville, Calif.
Years in business: 27
Firm: Better Financial Education
What’s working now: Larry is a
fee-only planner and a solo
advisor who has created a self-
sustaining process whereby
clients find him…not the other
way around.
Larry Frank is a CFP, MBA, former Air Force pilot…and the founder of Better
Financial Education. With 27 years in the business, Larry has always made financial
education part of his ethos, is the author of Wealth Odyssey and has had numerous
articles published in the Journal of Financial Planning. His website, Better Financial
Education is a tangible expression of his commitment to education and learning. On it
you’ll find an abundance of educational materials written to satisfy the curiosity of
present and future clients: Larry’s white papers, the Fiduciary Oath, his blog, “Ask
Larry,” “How We Will Work Together,” and much, much more.
Notably, and as you’ll see in his remarks below, or as you listen to the video, Larry has
figured out how to find five to eight new, priority clients each and every year. Or to be
more precise, Larry is not finding new clients…they are finding him, through Google search and referrals.
Indeed, Larry does no new client outreach as such. At least not in the typical marketing sense. He writes his blog (seeded
with keywords), tweaks his website, and clients initiate the non-sales process by signing up to speak with him.
On his website, you can “Sign Up to Have Coffee With Larry,” in person or virtually. And during this initial
complimentary meeting, Larry might offer you a Retirement Feasibility Timeline, a retirement dashboard, or a second
opinion…all of which he clearly outlines beforehand. All of this transparency helps to break down one big reason
prospective clients are reluctant to take the first step in this discovery courtship, i.e., they think that the advisor is going
to wrestle them to the ground and sell them something.
What Larry does, quite brilliantly, is to provide the resources and information that future clients want and need to make
their choice to use his services…or not. In the past few years, there has been a sea change in how prospective clients
interact with advisors. Today, buyers (in financial services, prospects) dictate the sales process.
Maybe, you’ve seen this. Before they meet with an advisor for the first time, the buyer will go to the advisor’s website and
look for videos, white papers, or other resources. If the advisor offers workshops or webinars, the buyer might attend two
or three. They’ll also do a Broker Check, and take a peek to the advisor’s LinkedIn page. What Larry does is make it really
easy for future clients to learn more about him…on their own schedule and in their own way.
Anyway, enough with the prologue. Let’s hear from Larry in his own words, talking about what it is like to be a solo
advisor in the second half of his career who has created this virtuous and virtual environment that attracts eyeballs…and
clients.
Clients who are reluctant to relinquish control
From Larry’s homepage
Welcome to Better Financial Education. You, the client are empowered to make decisions. Most people have a general
idea of what they want to accomplish but don’t know how to connect those ideas, goals, and wishes with their
personal finances to get there. You have real world goals and desires which have financial ramifications. You’re in
charge. I work in the background with you to guide you with how the pros and cons of the choices may affect your
decisions.
5/28/2021 Horsesmouth | Larry Frank
https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 3/6
My target market is those people who are looking for help, insights, and advice—but they’re leery about giving up control
of what they’ve been working on their whole life to accumulate. This focus has its roots in the four-week, 12-hour course
that I was teaching for about 10 years from 1997 to 2007. I noticed that the people who were coming were those kind of
people.
Over time, I realized that if this group is seeking insight and help but don’t want to give up control so much—or the
feeling of control—then being a partner with them was important. So, I structured the message and positioned the
website to resonate with those kind of people. They’re the senior partner, I’m the junior partner, that is usually how I
phrase it.
Starting out as a pilot
I grew up in Northern Minnesota, and ever since I was about 10 years old, I was interested in flying. My cousin, who was
about 20 years older than me, was a pilot in the Air Force. One time when he was home on leave from the Vietnam War,
we started chatting. I was 10 or 11, something like that. And he was giving me hints as to how to be a pilot, how to get in
the Air Force, get a scholarship. He went to University of Minnesota Duluth a couple of decades before I did. And so, it
was kind of where the light bulb started turning on to say, “It’s OK, here’s some guidance and direction and the marching
orders, so to speak to do that.”
It’s not just the hands and feet type of thing when you’re flying a helicopter or an airplane as I did, but there’s planning.
Where are you trying to get to? What do you need to get there? What happens if something happens along the way?
Where do you go? You have to make those kinds of decisions, all of those planning things.
While I was in the Air Force, I got interested in investing kind of as a hobby thing. And that’s where my master’s, my
MBA with a finance concentration came in. I was focusing on how companies finance themselves in stocks and bonds
and warrants and all those types of things. But then I flipped it around and said, “OK, that’s how companies do that. How
do individual investors like me look into that?” And this would have been in the late seventies, early eighties when I was
doing that.
My bachelor of science cum laude in physics, the math of how stuff works, intertwined really well with how money
works, the math and science of money. And once I retired from the Air Force, it was just kind of, “It’s been an interest my
whole life, this money thing. How do I get started and how do I set up to do that?”
Focusing on financial education
Better Financial Education was a name I came up with to initially teach people how investing and money works. This was
back in the late 90s, early 2000s, so people did not have many resources. It was a different environment back then. The
Internet was in its infancy. So, as I mentioned, I offered that 12-hour course that I ran over four weeks for about 10 years
or so. It all started with helping people understand. It’s morphed from there as the environment has changed and
people’s needs have changed. Now it’s more of educating people on retirement and when things become feasible,
creating a retirement feasibility timeline.
Really responding to people’s questions
My website is very transparent and offers a lot of information, with areas including my published papers, Knowledge
Center videos, who I work with, and even a discussion about my CRS. I really get in to some level of detail with all of this.
5/28/2021 Horsesmouth | Larry Frank
https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 4/6
It’s the same with my blog. My approach is: What are people asking about?
And it occurred to me early on that if people are thinking these thoughts, having these questions, how many people are
not finding the answers when they come to a site looking for answers. And so I started putting the answers onto the
website to give them that feel and that comfort. So they get a satisfying thoughtful answer to these questions.
And I actually get feedback from most new people when we have our first conversation that they were drawn deeper into
the site because they found answers to questions they had. And they even found answers to questions they didn’t think to
have yet.
White papers
I have the published papers available, that’s the thought leadership tab on there. I actually have seven academic peer-
reviewed, published papers in the Journal of Financial Planning. All of them are on bringing in the math and the
statistics of not only investing what I call a probability of the portfolio, but longevity statistics, what I call longevity of the
person. And those papers are digging deeper and advancing the insights into what Monte Carlo is really useful for.
It’s a little different than how it’s still applied today. I’m having discussions behind the scenes in the community with
various firms that the application of Monte Carlo is a decade or two behind where it should be. But enough on that
anyway, I can go for hours on that passion.
Videos
The video page, there’s a segment in there that addresses various things and even goes into a deep dive. There’s a
segment on there from a British media firm that goes into detail on the thoughts and theory and concepts on the
evidence-based approach to investing. That is for people who want to understand how Dimensional—a firm I use on my
asset advisement side as a fee-only planner—views the markets in the world and those kinds of things.
From the classroom to the website
In the 2000s, as the Internet became much better and Google became much better, I began to change my marketing. I
moved from the classroom to, eventually, an exclusively Internet-based approach. And I don’t spend a lot of money on
there. The key is making your site, my blog, and my main website, very visible to the Google search engine, not only
locally, but nationally, and also being a member of NAPFA as a fee-only fiduciary advisor.
So, those two areas are where people have been going and finding me, either locally through a Google search or even
locally through NAPFA. But I have people from all over the country finding me, landing on me through the NAPFA
association as well. There’s also a fee-only network site that is related to NAPFA. I find some people come through there
too. They find that site when they Google “fee-only.”
Fiduciary and fee-only
The video about being fee-only, that’s come out of the NAPFA association as a registered advisor. They put that together,
customized it a little bit, and it really tells the story. And it’s reaching out, again, to those people who are now aware and
becoming more aware of differences in advisors. So it’s explaining right up front that I’m fee-only, I’m a fiduciary.
I’ve actually had people, even after they’ve seen the site, want me to confirm verbally, you are fee-only, you are fiduciary,
those kinds of things. So, it’s just right up front is saying is, “Yes, this is who I am, and here’s how you can prove it to
5/28/2021 Horsesmouth | Larry Frank
https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 5/6
yourself,” diving deeper into the NAPFA website and those kinds of things.
Fee-only, fiduciary, certified financial planner, all of those, are key terms people will now search for. And so, it’s just a
matter of getting the search engine optimization to say, it’s, “Hey, here’s a guy who’s hit all those buttons on his site.”
Ask Larry
People reach out to me through the Ask Larry feature on my website or through the Contact Larry feature, or just even
direct through email. People reach out and either ask for how to schedule a meeting or what’s the first steps and I walk
them through that process, or they’ll have questions.
Sometimes, they’re not in my wheelhouse. I’ll give them pointers and a number of things to give them hints as to
potential answers to those. And then refer them back to NAPFA to say, “Click on the Find an Advisor feature, and look
for the specific category of knowledge to find an advisor who actually works in that area that I don’t work in.” So, it’s
using the NAPFA association to strengthen, at least helping people, educating a little bit on what they need, and then
pointing them to who can help them if it’s not me.
Calling in from around the country
People call me from all over the country. If they are not local, I use GoToMeeting, similar to Zoom, and we can do screen-
sharing and those kinds of things. And that’s very helpful.
I do a two-meeting process generally. One is to get to know them and they get to know me deeper. And I get to know
what it is they’re after and what they’re looking for and then we just go from there.
After I do the assessments and analysis and whatnot, it’s a second meeting to discuss the reports that I send them. And
then they can decide to remain fee-only as a consulting client, or they can transition over as an advisement client. And
we talk about Dimensional and go from there.
So, it’s very flexible, different clients, different people have different interests and desires. And so, I stay flexible to
address and help them as they desire. So, it’s not forcing them into my funnel, it is I’m giving them flexibility to choose
all along the way.
The flexibility of a mature practice
My practice gives me the freedom and the time and those kinds of things that I want at this stage. The volume of clients
who’ve come in allow me to work with the new people and work with existing families and still have free time for the four
kids and the nine grandkids—and probably more grandkids on the way!
So, at this stage in my career and whatnot, later stages here as a mature practice, it’s cooking along just fine. It’s
comfortable. It’s just enough for my family and me and the clients that I work with. So, it doesn’t need to be huge. It
needs to be servicing.
We have a Pacific Ocean beach house down in El Salvador. My wife and her family are from El Salvador. And so we go
down there three or four times a year—other than last year with Covid being around. Although we did get down there
once late in the year. So that’s where I can disconnect and spend time with the in-laws. There’s no T.V., Internet, radio,
that kind of stuff. It’s just ocean and hammocks down there at the beach house.
5/28/2021 Horsesmouth | Larry Frank
https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 6/6
IMPORTANT NOTICE
This material is provided exclusively for use by Horsesmouth members and is subject to Horsesmouth Terms & Conditions and applicable
copyright laws. Unauthorized use, reproduction or distribution of this material is a violation of federal law and punishable by civil and
criminal penalty. This material is furnished “as is” without warranty of any kind. Its accuracy and completeness is not guaranteed and all
warranties express or implied are hereby excluded.
© 2021 Horsesmouth, LLC. All Rights Reserved.
Transition plan
My age can cause some questions for people: What will happen when you retire or even if you get sick? I do address this
with people, and I let all clients know I have a plan in place.
And I talk about aging with the older clients and even bring it to them to say, “I’m aware of it in myself. So you kind of
peak at around the mid-fifties and go down from there.” So, I don’t want to be the old, old, old advisor who hung around
too long. And if you’ve been around the other advisors as I have, you can see some of them saying, “My God, when is he
going to retire? He should be retiring.”
So I’m aware of it. Not sure exactly when that will be yet. But as I mention on my website, it’s not only retirement, it’s
what if I get hit by the bus this afternoon, then what happens to my clients? So, I tell the clients and new people, “I do
have a written agreement with another advisor who, you could say, is a carbon copy of me. Just doesn’t look like me.”
He is a retired Navy pilot, does the same type of planning with the same firms. I met him a couple of decades ago in a
study group. And we still go through many study groups together. So, if something happens to me unexpectedly, nothing
changes for the client. If something happens to me temporarily, nothing changes for the clients. So there’s another
advisor that’s in there and it’s reassuring to people that that’s been thought through and there’s actually a formal process
in place to make that transition.

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Bio horsesmouth larry frank

  • 1. 5/28/2021 Horsesmouth | Larry Frank https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 1/6 Quick Overview Quick Overview Sign Up for Coffee With Larry: Helping New Clients Find and Come to Like You Online What’s Working Now: Larry Frank is a solo advisor in the second half of his career who has created a potent virtual environment that attracts eyeballs…and clients. He makes it really easy for folks browsing online to learn more about him on their own schedule and in their own way. Editor’s note: In this edition of What’s Working Now, an AdvisorRADIO feature in which Horsesmouth members tell us about recent success they have had running and growing their businesses, we hear from advisor Larry Frank, whose comprehensive and transparent website answers prospects’ questions and gets them asking him for meetings. In this article, Chris Holman introduces Larry and puts his practice in context, then there is an edited version of Larry’s remarks. Or you can watch the full interview in the video below. May 28, 2021 / By Larry Frank with Chris Holman 25:40 https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find- and-come-to-like-you-online Consumer link: http://www.horsesmouth.com/_3n4X
  • 2. 5/28/2021 Horsesmouth | Larry Frank https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 2/6 Guest: Larry Frank Roseville, Calif. Years in business: 27 Firm: Better Financial Education What’s working now: Larry is a fee-only planner and a solo advisor who has created a self- sustaining process whereby clients find him…not the other way around. Larry Frank is a CFP, MBA, former Air Force pilot…and the founder of Better Financial Education. With 27 years in the business, Larry has always made financial education part of his ethos, is the author of Wealth Odyssey and has had numerous articles published in the Journal of Financial Planning. His website, Better Financial Education is a tangible expression of his commitment to education and learning. On it you’ll find an abundance of educational materials written to satisfy the curiosity of present and future clients: Larry’s white papers, the Fiduciary Oath, his blog, “Ask Larry,” “How We Will Work Together,” and much, much more. Notably, and as you’ll see in his remarks below, or as you listen to the video, Larry has figured out how to find five to eight new, priority clients each and every year. Or to be more precise, Larry is not finding new clients…they are finding him, through Google search and referrals. Indeed, Larry does no new client outreach as such. At least not in the typical marketing sense. He writes his blog (seeded with keywords), tweaks his website, and clients initiate the non-sales process by signing up to speak with him. On his website, you can “Sign Up to Have Coffee With Larry,” in person or virtually. And during this initial complimentary meeting, Larry might offer you a Retirement Feasibility Timeline, a retirement dashboard, or a second opinion…all of which he clearly outlines beforehand. All of this transparency helps to break down one big reason prospective clients are reluctant to take the first step in this discovery courtship, i.e., they think that the advisor is going to wrestle them to the ground and sell them something. What Larry does, quite brilliantly, is to provide the resources and information that future clients want and need to make their choice to use his services…or not. In the past few years, there has been a sea change in how prospective clients interact with advisors. Today, buyers (in financial services, prospects) dictate the sales process. Maybe, you’ve seen this. Before they meet with an advisor for the first time, the buyer will go to the advisor’s website and look for videos, white papers, or other resources. If the advisor offers workshops or webinars, the buyer might attend two or three. They’ll also do a Broker Check, and take a peek to the advisor’s LinkedIn page. What Larry does is make it really easy for future clients to learn more about him…on their own schedule and in their own way. Anyway, enough with the prologue. Let’s hear from Larry in his own words, talking about what it is like to be a solo advisor in the second half of his career who has created this virtuous and virtual environment that attracts eyeballs…and clients. Clients who are reluctant to relinquish control From Larry’s homepage Welcome to Better Financial Education. You, the client are empowered to make decisions. Most people have a general idea of what they want to accomplish but don’t know how to connect those ideas, goals, and wishes with their personal finances to get there. You have real world goals and desires which have financial ramifications. You’re in charge. I work in the background with you to guide you with how the pros and cons of the choices may affect your decisions.
  • 3. 5/28/2021 Horsesmouth | Larry Frank https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 3/6 My target market is those people who are looking for help, insights, and advice—but they’re leery about giving up control of what they’ve been working on their whole life to accumulate. This focus has its roots in the four-week, 12-hour course that I was teaching for about 10 years from 1997 to 2007. I noticed that the people who were coming were those kind of people. Over time, I realized that if this group is seeking insight and help but don’t want to give up control so much—or the feeling of control—then being a partner with them was important. So, I structured the message and positioned the website to resonate with those kind of people. They’re the senior partner, I’m the junior partner, that is usually how I phrase it. Starting out as a pilot I grew up in Northern Minnesota, and ever since I was about 10 years old, I was interested in flying. My cousin, who was about 20 years older than me, was a pilot in the Air Force. One time when he was home on leave from the Vietnam War, we started chatting. I was 10 or 11, something like that. And he was giving me hints as to how to be a pilot, how to get in the Air Force, get a scholarship. He went to University of Minnesota Duluth a couple of decades before I did. And so, it was kind of where the light bulb started turning on to say, “It’s OK, here’s some guidance and direction and the marching orders, so to speak to do that.” It’s not just the hands and feet type of thing when you’re flying a helicopter or an airplane as I did, but there’s planning. Where are you trying to get to? What do you need to get there? What happens if something happens along the way? Where do you go? You have to make those kinds of decisions, all of those planning things. While I was in the Air Force, I got interested in investing kind of as a hobby thing. And that’s where my master’s, my MBA with a finance concentration came in. I was focusing on how companies finance themselves in stocks and bonds and warrants and all those types of things. But then I flipped it around and said, “OK, that’s how companies do that. How do individual investors like me look into that?” And this would have been in the late seventies, early eighties when I was doing that. My bachelor of science cum laude in physics, the math of how stuff works, intertwined really well with how money works, the math and science of money. And once I retired from the Air Force, it was just kind of, “It’s been an interest my whole life, this money thing. How do I get started and how do I set up to do that?” Focusing on financial education Better Financial Education was a name I came up with to initially teach people how investing and money works. This was back in the late 90s, early 2000s, so people did not have many resources. It was a different environment back then. The Internet was in its infancy. So, as I mentioned, I offered that 12-hour course that I ran over four weeks for about 10 years or so. It all started with helping people understand. It’s morphed from there as the environment has changed and people’s needs have changed. Now it’s more of educating people on retirement and when things become feasible, creating a retirement feasibility timeline. Really responding to people’s questions My website is very transparent and offers a lot of information, with areas including my published papers, Knowledge Center videos, who I work with, and even a discussion about my CRS. I really get in to some level of detail with all of this.
  • 4. 5/28/2021 Horsesmouth | Larry Frank https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 4/6 It’s the same with my blog. My approach is: What are people asking about? And it occurred to me early on that if people are thinking these thoughts, having these questions, how many people are not finding the answers when they come to a site looking for answers. And so I started putting the answers onto the website to give them that feel and that comfort. So they get a satisfying thoughtful answer to these questions. And I actually get feedback from most new people when we have our first conversation that they were drawn deeper into the site because they found answers to questions they had. And they even found answers to questions they didn’t think to have yet. White papers I have the published papers available, that’s the thought leadership tab on there. I actually have seven academic peer- reviewed, published papers in the Journal of Financial Planning. All of them are on bringing in the math and the statistics of not only investing what I call a probability of the portfolio, but longevity statistics, what I call longevity of the person. And those papers are digging deeper and advancing the insights into what Monte Carlo is really useful for. It’s a little different than how it’s still applied today. I’m having discussions behind the scenes in the community with various firms that the application of Monte Carlo is a decade or two behind where it should be. But enough on that anyway, I can go for hours on that passion. Videos The video page, there’s a segment in there that addresses various things and even goes into a deep dive. There’s a segment on there from a British media firm that goes into detail on the thoughts and theory and concepts on the evidence-based approach to investing. That is for people who want to understand how Dimensional—a firm I use on my asset advisement side as a fee-only planner—views the markets in the world and those kinds of things. From the classroom to the website In the 2000s, as the Internet became much better and Google became much better, I began to change my marketing. I moved from the classroom to, eventually, an exclusively Internet-based approach. And I don’t spend a lot of money on there. The key is making your site, my blog, and my main website, very visible to the Google search engine, not only locally, but nationally, and also being a member of NAPFA as a fee-only fiduciary advisor. So, those two areas are where people have been going and finding me, either locally through a Google search or even locally through NAPFA. But I have people from all over the country finding me, landing on me through the NAPFA association as well. There’s also a fee-only network site that is related to NAPFA. I find some people come through there too. They find that site when they Google “fee-only.” Fiduciary and fee-only The video about being fee-only, that’s come out of the NAPFA association as a registered advisor. They put that together, customized it a little bit, and it really tells the story. And it’s reaching out, again, to those people who are now aware and becoming more aware of differences in advisors. So it’s explaining right up front that I’m fee-only, I’m a fiduciary. I’ve actually had people, even after they’ve seen the site, want me to confirm verbally, you are fee-only, you are fiduciary, those kinds of things. So, it’s just right up front is saying is, “Yes, this is who I am, and here’s how you can prove it to
  • 5. 5/28/2021 Horsesmouth | Larry Frank https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 5/6 yourself,” diving deeper into the NAPFA website and those kinds of things. Fee-only, fiduciary, certified financial planner, all of those, are key terms people will now search for. And so, it’s just a matter of getting the search engine optimization to say, it’s, “Hey, here’s a guy who’s hit all those buttons on his site.” Ask Larry People reach out to me through the Ask Larry feature on my website or through the Contact Larry feature, or just even direct through email. People reach out and either ask for how to schedule a meeting or what’s the first steps and I walk them through that process, or they’ll have questions. Sometimes, they’re not in my wheelhouse. I’ll give them pointers and a number of things to give them hints as to potential answers to those. And then refer them back to NAPFA to say, “Click on the Find an Advisor feature, and look for the specific category of knowledge to find an advisor who actually works in that area that I don’t work in.” So, it’s using the NAPFA association to strengthen, at least helping people, educating a little bit on what they need, and then pointing them to who can help them if it’s not me. Calling in from around the country People call me from all over the country. If they are not local, I use GoToMeeting, similar to Zoom, and we can do screen- sharing and those kinds of things. And that’s very helpful. I do a two-meeting process generally. One is to get to know them and they get to know me deeper. And I get to know what it is they’re after and what they’re looking for and then we just go from there. After I do the assessments and analysis and whatnot, it’s a second meeting to discuss the reports that I send them. And then they can decide to remain fee-only as a consulting client, or they can transition over as an advisement client. And we talk about Dimensional and go from there. So, it’s very flexible, different clients, different people have different interests and desires. And so, I stay flexible to address and help them as they desire. So, it’s not forcing them into my funnel, it is I’m giving them flexibility to choose all along the way. The flexibility of a mature practice My practice gives me the freedom and the time and those kinds of things that I want at this stage. The volume of clients who’ve come in allow me to work with the new people and work with existing families and still have free time for the four kids and the nine grandkids—and probably more grandkids on the way! So, at this stage in my career and whatnot, later stages here as a mature practice, it’s cooking along just fine. It’s comfortable. It’s just enough for my family and me and the clients that I work with. So, it doesn’t need to be huge. It needs to be servicing. We have a Pacific Ocean beach house down in El Salvador. My wife and her family are from El Salvador. And so we go down there three or four times a year—other than last year with Covid being around. Although we did get down there once late in the year. So that’s where I can disconnect and spend time with the in-laws. There’s no T.V., Internet, radio, that kind of stuff. It’s just ocean and hammocks down there at the beach house.
  • 6. 5/28/2021 Horsesmouth | Larry Frank https://www.horsesmouth.com/sign-up-for-coffee-with-larry-helping-clients-find-and-come-to-like-you-online 6/6 IMPORTANT NOTICE This material is provided exclusively for use by Horsesmouth members and is subject to Horsesmouth Terms & Conditions and applicable copyright laws. Unauthorized use, reproduction or distribution of this material is a violation of federal law and punishable by civil and criminal penalty. This material is furnished “as is” without warranty of any kind. Its accuracy and completeness is not guaranteed and all warranties express or implied are hereby excluded. © 2021 Horsesmouth, LLC. All Rights Reserved. Transition plan My age can cause some questions for people: What will happen when you retire or even if you get sick? I do address this with people, and I let all clients know I have a plan in place. And I talk about aging with the older clients and even bring it to them to say, “I’m aware of it in myself. So you kind of peak at around the mid-fifties and go down from there.” So, I don’t want to be the old, old, old advisor who hung around too long. And if you’ve been around the other advisors as I have, you can see some of them saying, “My God, when is he going to retire? He should be retiring.” So I’m aware of it. Not sure exactly when that will be yet. But as I mention on my website, it’s not only retirement, it’s what if I get hit by the bus this afternoon, then what happens to my clients? So, I tell the clients and new people, “I do have a written agreement with another advisor who, you could say, is a carbon copy of me. Just doesn’t look like me.” He is a retired Navy pilot, does the same type of planning with the same firms. I met him a couple of decades ago in a study group. And we still go through many study groups together. So, if something happens to me unexpectedly, nothing changes for the client. If something happens to me temporarily, nothing changes for the clients. So there’s another advisor that’s in there and it’s reassuring to people that that’s been thought through and there’s actually a formal process in place to make that transition.