Welcome back to the 363rd episode of the Financial Advisor Success Podcast!
My guest on today’s podcast is Christa Madison. Christa is the Managing Director of Financial Planning and Business Development at Sebold Capital, a fee-only RIA based in Chicago, Illinois, which manages $300M across more than 100 client households.
What’s unique about Christa, though, is how she used her business development and networking skills to overcome the challenges that sprung up when, through a combination of personal and professional shifts, she found herself building her book of business from scratch, 3 separate times, and how she leveraged those pivots as an opportunity to account for how her own skills and competencies had changed and grow into larger (and more lucrative) opportunities.
In this episode, we talk in-depth about how Christa’s start in insurance sales at Northwestern Mutual brought both successes in building a book of younger clients just beginning their career journeys, and challenges as she struggled to hit sales goals when her young clientele were more interested in starting Roth IRAs and didn’t need much insurance yet, how Christa’s intensive networking event arrange and simple but uniquely branded way of following up allowed her to feed into a ’10-3-1′ prospecting pipeline (in which on average, for every 10 prospects she approached, 3 were interested, and 1 became a client) and continually rebuild her book of business when she transitioned roles, and how despite her skillset at networking, Christa still found after having to start over 3 times that it takes 3 years, on average, for her prospecting to start to grow from scratch into its own robust referral network.
We also talk about how Christa overcame the unique challenge of maintaining professional momentum while building a family, which prompted her to step into contracting roles when she needed more flexibility and out of them when she needed more stability, how when faced with the need to find a new opportunity Christa leveraged her networking skills to find and then just walk into the lobbies of 20 local-area firms until she found one that was interested in hiring her (and got the job!), and the reason that Christa ultimately decided that as she approached her 3rd time building a book of business, she wanted to build it in the RIA channel instead.
And be certain to listen to the end, where Christa discusses why she feels that her background and early experience in the insurance channel made her a stronger financial advisor (and why she worries that advisory firms today may be underestimating the value of those experiences), how Christa’s willingness to ‘start over’ as a paraplanner in a fee-only firm led her on the promotional fast-track to become the director of 2 departments, and how Christa found that no matter where she went, her people-first prospecting approach helped her grow a client base, especially amongst those in need of financial guidance who lacked maintain because they weren’t ‘top of the top’ financial prospects for other financial advisors but were more than able to allow her to successfully grow her own practice.
So, whether you’re interested in how Christa successfully navigated a reboot of her own career multiple times, how Christa adapted her services to confront the needs of young clientele who don’t fit a ‘traditional’ client mold, or how Christa maintained career propulsion while her personal life demands evolved over time, then we hope you relish this episode of the Financial Advisor Success podcast, with Christa Madison.
