Welcome back to the 218th episode of the Success podcast for financial advisors!
My guest on today’s podcast is Maura Griffin. Maura is the founder of Blue Spark Financial, an independent RIA with offices in New York and Massachusetts that manages more than $ 150 million in assets from nearly 90 families, most of whom are either divorced or widowed for the first time Time to make financial decisions yourself.
What is unique about Maura, however, is how she built her practice from the ground up, not by marketing her financial planning services, but by developing a focused expertise in student grant planning and giving high school parents a flat fee of $ 1,000 bills to help them with their work. Grant planning needs. In doing so, she is paid for her college planning skills to build relationships that could turn into full-scale planning relationships in the future.
In this episode, we talk in depth about how demand for her student grant planning services helped Maura grow to $ 15 million in AUM in the first year alone. She has systematized her grant planning presentation results to efficiently serve more than 100 customers in her first year alone. And how those initial financial planning aids led to the realization that, from a professional standpoint, the most enjoyable thing for her was helping women who were facing the same challenge as a single woman responsible for all financial decisions for her family. This led Maura to niche work with recently widowed and divorced women for the past few years.
We also talk about the circumstances that set the stage for Maura’s career-changing transition from journalism and real estate investing to financial planning. Why having a financial reserve was so important when starting her company, not only to give her peace of mind and confidence, but the flexibility to build her business on purpose from the start without feeling undue pressure to take over any prospect she bumped. The steps Maura took to manage her time and capacity by implementing minimum accounts on a waiting list as her practice grew, and how she had to learn to say no when the rapid growth of her practice felt overwhelmed and overwhelmed.
And be sure to listen until the end, where Maura shares the challenge of feeling frustrated because she can’t help everyone who sought her help and how that served as a way to understand what she ultimately wanted and had the most fun being a business owner and gave her clarity about the concept of enough and why Maura has now consciously made the decision to structure her company as a so-called lifestyle practice.
Whether you’re interested in how Maura started from scratch helping parents plan financial aid, how she consciously made the decision to start a lifestyle practice after tremendous early growth, or how she was single and divorced women who are the primary financial decision maker for their families, we hope you enjoy this episode of the Financial Advisor Success Podcast.
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