Welcome to Episode 322 Financial Advisor Success Podcast!
Today’s podcast guest is Kent Skornia. Kent is the founder of Krilogy, an independent RIA based in St. Louis, Missouri, which oversees approximately $2 billion in assets under management for 1,800 household clients.
But what makes Kent unique is the way he grows advisors within Krilogy. It started with mentorship, education, and especially a new advisor gaining a deeper knowledge of his financial planning and growing his own business book over time.
This episode details how Kent developed the Krilogy Advisor Development System (KADS for short). This is a unique training system that combines New His Krilogy Advisors with Senior Advisor Mentors to support, train and practice his base of Senior Advisor clients. The activities they needed to grow their own business book (to eventually become senior advisors), how Kent and his company implemented the “Zero to One FA” activity tracking sheet (book (based on a combination of the “Zero” concepts), this is a basic activity that new advisors in the KADS program should focus on with the intention that it is built by scheduling and repetition of activities in the same way that muscle is built. It’s a compilation of lists. Kent and his company created Crylogy University, his one training session per week, open to all advisors. f Firms with a strong focus on financial planning concepts (using a curriculum designed by an in-house Wealth Intelligence Board who also teaches as an in-house expert).
We also discussed how Krilogy’s Senior Advisors used the KADS program to gain the support of their business book and find a successor to their duties when they eventually wanted to retire; It also describes how it was established. To oversee the training and promotion of new advisors within KADS, ensuring senior advisors guide new advisors in financial planning and client relationship building. A Senior Advisor sells some or all of a business book to Krilogy while remaining an advisor under Krilogy, removing a few chips from the table while continuing to serve clients.
Please listen to the end. Kent describes how Krilogy has instilled in the company a values-based approach focused on dedication, prosperity, leadership and respect, engaging all employees in the company and providing excellent service. Share what you did. A good way for new advisors to find the right company for them, says Kent, is to interview other new advisors at the company they’re looking for to understand if the company is really a good choice and if they really care. That’s why I believe it is. Regarding the growth and development of an advisor, and although the company’s success depends on growth and achievement of goals, for Kent, success is about building relationships with clients, employees, and those around him. And there are many who feel it is to see how their relationships affect their lives as they grow up and find their own success.
So why Kent decided to create an internal advisor training program to grow his advisors in-house, how the costs of hiring advisors are covered by Krilogy, and how advisors are compensated , or if you want to learn more about how Krilogy is implementing options, check out this episode of the Financial Advisor Success Podcast with Kent Skornia on Senior Advisor Succession Planning, Transitioning Retiring Advisors in Two Years. Please enjoy.
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