Many of you were aware that I had a self-imposed client capacity limit, and as that limit approached I had to decide if I wanted the firm to grow beyond myself or close the doors to new clients. While the last two years have been a bit of a whirlwind, the firm now manages over $120 million and has about 135 client households.
This topic came up often in client meetings. People always seemed interested in what was next for Meredith Wealth Planning. I’m sure I gave different people different answers along the way as my thought process evolved. Numerous clients gave very insightful advice (ironic moment, as I am the one charging them for advice) which helped me a great amount, but I’m not sure they even realized it.
While I have had numerous solicitors reach out to me over the last two years to merge or be acquired, I had no interest. Independence is of utmost importance in this industry to ensure clients are receiving objective advice. Numerous advisors have reached out to inquire about joining the firm, but they often insisted that I needed to change the fee schedule. I’m afraid I am not open to that discussion.
My decision was to keep growing the firm, without taking on any more clients myself. Of course, this meant hiring a talented financial planner to join me. People that know me well can probably imagine I’d be quite selective in who I bring on. While many investment firms look for individuals with significant sales experience, I sought someone who was an expert in financial planning, expert in investments, could communicate both effectively, and had no ego.
This is why I reached out to Zachary Joiner. He was able and willing to accept the offer.
Zach is a CFP® professional. We met about two years ago and knew very quickly there was an alignment. We share a passion for financial planning and investment advice, and he brings with him over 13 years of industry experience. He lives in Edwardsville, IL with his wife Ashlee and their two children, Jack and Harper. Here is the link to his full bio page.
Zach is gung-ho about the flat fee advice model, and looks forward to helping spread the word amongst the community. We will approach investments, planning, and advice in a very consistent manner with clients and the flat-fee schedule will remain the same. He will be the primary advisor for all new clients of Meredith Wealth Planning (with a few pre-existing exceptions). We will work as a team to maintain a high-end service and advice offering to everyone we work with.
It’s hard to believe only 26 months after starting the business I have reached my personal client capacity limit. Although I mentioned the capacity limit when I wrote my first blog post for the firm in April of 2019, I didn’t envision it happening this quickly. Clients and other readers of the blog have been tremendous help from a referral standpoint, and I’m confident Zach will soon see that with his own eyes.
Be sure to send Zach a message and say “hello”. He can be reached at email@example.com.