88 min listen
Ep 244: Taking A 'Financial Gym' Approach To Financial Coaching For Next-Generation Clients with Shannon McLay
Ep 244: Taking A 'Financial Gym' Approach To Financial Coaching For Next-Generation Clients with Shannon McLay
ratings:
Length:
90 minutes
Released:
Aug 31, 2021
Format:
Podcast episode
Description
Shannon McLay is the founder of The Financial Gym, an organization that offers financial coaching services on a monthly subscription basis to 3,500 Millennial and Gen-Z clients. Shannon has positioned her offerings in a similar way to personal trainers, helping people get “financially fit” through traditional financial planning services like budgeting, savings, debt management, and financial literacy. Listen in as we dive into the “aha” moment that led Shannon to launch The Financial Gym, how she convinced initial investors to buy into her business, and why she feels that an important benefit of the monthly subscription model is the accountability it places on her coaches to show value to clients. She also shares why she ditched an off-the-shelf software package and developed her own proprietary budgeting tool for clients, the lessons she learned through that development process, and why she has been able to build a diverse and inclusive team of coaches who can relate to clients in a really unique way. For show notes and more visit: https://www.kitces.com/244
Released:
Aug 31, 2021
Format:
Podcast episode
Titles in the series (100)
Ep 001: Entrepreneurial Persistence And Building a $200M AUM Practice with Rick Kahler: In this first episode, I have a conversation with Rick Kahler, a financial planner in Rapid City, South Dakota who built his own practice to a stable of 100 clients and $200M in assets under management. by Financial Advisor Success