Episode 126: This week, Kyle Van Pelt talks with Sarah Simmer, Partner and Senior Wealth Advisor at Heritage Wealth Advisors. Sarah delivers customized wealth management and tax planning services to individuals and families, with a special focus on multi-generational households.

Sarah talks with Kyle about what world-class client experience truly requires, especially for ultra-high-net-worth families. She shares the tactical side of scaling a white-glove firm, highlighting the importance of rigorous client segmentation, the courage to have difficult fee conversations, and how to use data to determine exactly who you should and shouldn't be serving. 

In this episode:

(00:00) - Intro

(03:10) - Sarah's money moment

(06:11) - How Sarah's mother influenced her career in wealth management

(09:13) - How an auditor's mindset translates to serving high-net-worth families

(10:30) - What client experience means for ultra-high-net-worth families

(13:16) - How Sarah uncovers and manages client expectations

(17:55) - Why proactively discussing fees can reinforce value

(22:46) - How Heritage scales white-glove service to ultra-high-net-worth clients

(30:03) - How a scaled white-glove service feels personalized

(34:08) - Sarah's outlook on the future of the financial services industry

(36:22) - Sarah's Milemarker Minute

Key Takeaways

Client experience is not a deliverable. It's the whole relationship.  The client's perception is the reality. Leaders need a consistent feedback loop to ensure the experience matches the intent.

Audit-trained minds bring hidden superpowers. Learning how to learn quickly and diagnose problems is often more valuable than specific industry knowledge. 

Don't fear the fee conversation. While many leaders shy away from this topic, proactively raising it allows you to realign expectations. If the client hesitates on the fee, it's an immediate signal that there is a disconnect in the perceived value of the service being delivered.

Providing white-glove services at scale requires a personalized approach. White-glove service feels impossible to scale unless you define exactly who fits in which bucket.

Quotes

"At the end of the day, we're a people business, so the client's experience is their reality. We can think we're doing a fantastic job, but if the client has a terrible experience through all of it, we're not going to stay in business." ~ Sarah Simmer

"If you believe in the value you're providing to your clients, you shouldn't be scared to check in with them on how that fee feels." ~ Sarah Simmer

"If we can focus on making the information and the story we're trying to get to the client more aligned with the types of experiences they enjoy, that's the goal." ~ Sarah Simmer

Links 

Sarah Simmer on LinkedIn

Heritage Wealth Advisors

PwC

Dee Ann Remo

KPMG International

McKinsey

A Bit Much

Northanger Abbey

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

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