Maximum Advisor Podcast Episode 023_Dave Grant

Building a Practice vs Building Yourself a Job, with Dave Grant

Episode: 023

On this episode of Maximum Advisor, Chip is joined by Dave Grant, financial advisor columnist and founder of Retirement Matters. Dave shares how he accidentally found himself in the world of financial planning and how he overcame various obstacles that led him to create his company.

Dave begins this episode by sharing with listeners how his services started out heavily geared toward Illinois based teachers and slowly grew his clientele with a focus on retirement planning. Dave states, “I rebranded and then became more of a retirement income specialist. And then three years after that, this is where we sit today.”

Chip describes a recent article written by Dave where he details how at 37 years old, he is considered semi-retired. Dave clarifies that while he is still heavily involved with his clients, he has been able to tailor his business around his life, and not the other way around. “I was really trying to understand, how do I want to build a practice that supports my life versus building a job?”

Dave continues to explain why he hasn’t taken on more clients and how some financial advisors question his decision. “Some of them are like, you're crazy. Why would you not want to earn more money? Like, well, that's you, that’s fine. If you want to earn more money, that's great. Just realizing what you may be giving up for it.” Dave points out, “it's more important to have the time than the dollars.”

Chip and Dave end the segment by discussing the importance of advisors being able to identify their weaknesses. Dave closes by encouraging listeners, “You got to focus on your weaknesses, that is going to help you grow in the future.”

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The Capacity Crossroads And The Small Giant Alternative To Building A Lifestyle Or Enterprise Firm

In the early days of building an advisory firm, the formula is pretty simple: go out and get clients. Because in the early days, a newer financial advisor has a lot of time, and not a lot of clients – i.e., a lot of ‘excess’ capacity – and the best way to grow the business (and the advisor’s income) is simply to add clients and turn that idle capacity into more productive time. The more clients the advisor can add, the more income they can generate. Continue Reading >

dave grant

Dave Grant, CFP®

Retirement Matters, Inc

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Dave Grant, a Financial Planning columnist, is founder of Retirement Matters, a planning firm, in Cary, Illinois. He is also the founder of NAPFA Genesis, a networking group for young fee-only planners.

Dave is a Certified Financial Planner (CFP) professional, a NAPFA Registered Financial Advisor and has been providing fee-only, fiduciary financial advice to clients since 2007. To better serve retiring and retired clients, he has taken advanced classes in retirement income planning. Having worked in fee-only firms of various sizes before starting his own firm in 2013, he has advised clients ranging from young professionals, oil executives, to happily retired, blue-collar families. His specialties include working with Illinois teachers and executives facing retirement needing to turn their multiple assets into a stream of retirement income.

He is an advocate for providing financial advice using a fee-only model, which means he only gets paid by clients - not through product commissions or other means. He believes that everybody who needs financial advice should be able to receive it, not doubt the quality of advice they receive or be in doubt regarding the amount they are paying.

Dave is an internationally known planner specializing in how younger financial planners can excel in their careers. In 2020, he "retired" as a decade-long columnist for Financial Planning magazine where he wrote a column for younger financial planners.

He is married to a middle school Math teacher (Highland Middle School, Libertyville) and is a father to two boys. He's a proud member of the Board of Directors for YMCA Camp Duncan in Fox Lake, IL and serves as a mentor through Kids Hope USA.