Welcome back to the 258th episode of the Financial Advisor Success Podcast!
My guest on today’s podcast is Joseph Pitzl. Joe is the founder of Pitzl Financial, an independent RIA based in the Minneapolis area that oversees nearly $270 million of assets for almost 270 client households.
What’s unique about Joe, though, is his unique next-generation career path into the advice business, which started out by working as an associate planner in a large advisory firm because he was scared to be in a sales role. And only after getting 10 years of experience, decided that he was ready to be in charge of business development and finally launched his own firm to start building his own client list.
In this episode, we talk in-depth about how Joe navigated his initial entry into financial planning, despite being an admitted bad student who struggled in a traditional classroom. The way Joe’s involvement in the FPA, and with the NextGen community, built his networks to the point that whenever he needed to switch firms, he never struggled to find the next job opportunity, and why Joe has found business development so much easier in his 30s than it ever was in his 20s.
We also talk about how Joe structured and scaled his advisory firm as it’s added more than $250 million of AUM in barely 7 years, including why the firm decided to outsource its portfolio management to a TAMP in order to focus more on financial planning services, how the firm structures its lean team of just five people, of which four are lead or associate advisors, to serve their 270 client households. And how Joe’s firm turned local Google searches into a key driver of new clients.
And be certain to listen to the end where Joe shares how he’s navigated some of the biggest challenges in his career, including finding himself out of a job at the same time he was just starting a family and had bought a house. How Joe clears his mind when he finds that he needs to regain clarity in the business, and why forming a study group with five other advisors at a similar age and career stage was so foundational to Joe’s own career success and getting the support he needed at the key turning points along the way.
And so whether you’re interested in learning how Joe created opportunities towards becoming a financial advisor by utilizing the connections made through financial networks, why he places importance in creating deep and meaningful relationships with clients, or why he focuses his business on a younger clientele, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Joe Pitzl.