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The Profitable Advisor Podcast

Every month, million dollar fee-based financial advisor Dan Cuprill shares ideas and strategies on how build profit-driven planning practices. For more information, visit

Apr 1, 2023

We had the opportunity recently to buy a practice, which we encourage advisors to do because it’s a great way to grow your business. But you have to go into this process knowing it won’t be a 100% fit.

When you inherit another advisor’s practice, you’ll be getting clients that might have been a great fit for the previous owner but not so much for you. Part of taking over the new practice is taking the time to get to know them to find out how you’ll be able to help them. Some people in that group might end up being ones that you don’t want to work with long term, and you need to make those decisions.

So how do you figure out if someone is a good fit for your practice? We’ve put together a short list of questions you should be asking every new prospect to determine whether or not you want to bring them on. The answers to these questions will help you identify some possible red flags that could come up down the road. By asking these now, you can filter out the clients that might not be ideal for your business and continue maximizing your growth and having the balance you strive for.


Here are the questions we’ll discuss in this episode:

  • Why do you feel you need an advisor? (3:01)
  • What are you going to do the next time the market or your statements drop 15-20%? (6:38)
  • What role do you want me to play in working with you? (8:25)
  • Why these questions are so important for your business. (9:54)


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