Welcome back to the 195th episode of Financial Advisor Success Podcast!
My guest on today’s podcast is Daniel Hannoush. Daniel is the co-founder of One & Done Financial, a virtual independent RIA that oversees nearly $70 million of assets under management for almost 350 client households. What’s unique about Daniel though, is his firm’s niche focus on Chick-fil-A operators, and how by partnering with a key center of influence in the Chick-fil-A community, Daniel’s firm has been able to consistently add five to ten new clients per month to get them to those 350 client households in barely four years since launching.
In this episode, we talk in-depth about Daniel’s path to the Chick-fil-A niche, how he started out, like so many advisors, as a generalist serving anyone and everyone he could meet, the way a fateful introduction by a recruiter to another advisor seeking to build a business with similar values led to Daniel meeting his business partner, the way they formed an advisory firm partnership with the delineation of roles where Daniel would focus on building the business internally, while his partner used his existing Chick-fil-A relationships to grow the clientele, and why when you find traction in a niche, it’s so crucial to take the time to build the internal systems and processes, because as Daniel puts it, if your visibility exceeds your ability, it destroys your credibility.
We also talk about how Daniel’s firm is actually building in the Chick-fil-A niche, how they separate out the advice services that One & Done provides from the home office support that Chick-fil-A itself gives its franchise operators, the unique modular approach to financial planning their firm takes, why services are split into monthly financial planning fees, investment management for standalone portfolios, and a separate retirement planning service offering with its own pricing structure, and how Chick-fil-A’s robust business model and their own franchise vetting process effectively ensures that virtually every Chick-fil-A operator will be a good fit for Daniel’s advisory firm.
And be sure to listen to the end, where Daniel shares why they’ve decided to build their fast-growing advisory firm entirely virtually, the reason they decided to invest heavily into Salesforce as their CRM system, and the power of not being everything to everyone, and finding the one thing you can be the best at, and using that as the core to grow and scale your advisory business.
So whether you’re interested in learning about the journey that led Daniel to finding his Chick-fil-A niche, how his modular financial planning system works, or why he built a virtual firm, then we hope you enjoy this episode of the Financial Advisor Success podcast.
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