October 13, 2021

If It’s FEE It’s for Me With Andrew Martin

57 minutes

In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Andrew Martin, Founder & President of Atlas Financial Strategies. Andrew discusses his transition from life insurance to financial planning, why he decided to become a fee-based advisor, and how he provides value for his clients.

Episode Highlights:

Andrew shares his background. (2:50)

Andrew believes that the property-casualty insurance sector is very transactional, focused on providing quotes, and not so much on educating clients. (5:20)

Andrew explains why he believes individuals are still used to working with advisors on a transactional basis. (9:44)

Andrew mentions that their most difficult challenge is getting the information they require from clients in a timely manner and getting them to follow through on certain commitments. (14:25)

Andrew explains how they came up with hiking the fee. (17:32)

Andrew mentions the importance of educating people on the products and their benefits. (24:36)

How did Andrew decide to switch from life insurance to financial planning? (26:24)

Andrew mentions that it took him some time to get used to the process and how he charges. (31:18)

Andrew believes that one of the most difficult challenges he has faced is the learning process. (32:29)

Andrew mentions that being in front of clients and directing the planning is the most valuable use of his time. (36:10)

Andrew mentions that there are many agents or advisors who are afraid to charge a fee. (48:58)

Tweetable Quotes:

“Before I made that transition into fee-based and charging for our time and advice, I lost what would have been, several good clients, because I didn't charge because the people with money want to pay their advisor or the person they're working with for their time and advice to feel like they're getting that unbiased advice.” - Andrew Martin

“I've always wanted to be a trusted advisor for my clients and be well rounded, and holistic, and help them with everything as much as I can to provide as much value as possible.” - Andrew Martin

“It was a tough transition and making the transition into fee-based, took me a while to kind of settle, and we're still trying to perfect things, as I hope we always do. But it's been one of the best business decisions I've ever made, it really has opened things up, it really has positioned me.” - Andrew Martin

Resources Mentioned:

Andrew Martin LinkedIn

Atlas Financial Strategies

David Carothers

Kyle Houck

Florida Risk Partners

The Extra 2 Minutes

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By David Carothers

4.9

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