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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

Oct 24, 2019

We all aim to build a business that runs efficiently enough that we’re able to enjoy significant time for ourselves while also generating strong profits. The key to getting there is figuring out how many clients you need to aim for while still maintaining a high-level of service. We’ll use a recent article on this topic to lay out a plan to get you to that optimal number.


In this episode: 

A recent article about how many clients an advisor should have caught Dan’s attention because it shared many of the same ideals that he believes in and shares on this podcast.

The article is Get 70 “Deep” Clients. Period. by Sara Grillo and it talks about how adding too many clients can become a ‘chaotic Picasso.’ You can read her detailed explanation in the article but it is the basis for this episode of the Profitable Advisor podcast because Dan disagreed with a few key points.

First, her optimal number is lower than what we believe you can reach. Everyone’s situation is different but why not aim for a higher revenue number if you can manage it?

Dan also talks about why every advisor should consider adopting an AUM model to grow revenue from $3,000 per client up to $5,000. We’ll detail how that’s possible but it’s comes down to handling all of your client’s money. This might seem like a time-consuming approach, but we’ll share the way Dan gets around that and still has plenty of time to spend with clients.

Putting systems in place will help you grow your business to that ideal size so that you’ll be able to maintain the lifestyle you want while providing excellent service to your clients.

To save you some time, we’ve highlighted the topics below. Just click on the timestamps to skip ahead in the episode or go back to something you want to hear again.

1:51 – Welcome in, it’s been a chaotic month.

2:47 – Dan is taking a trip to Israel in the next week.

3:56 – Today we’re getting into an article written by Sara Grillo: Get 70 “Deep” Clients. Period.

6:25 – Dan reads a little from this article to share a few excerpts about what she means by ‘chaotic Picasso’

8:55 – I talk about this idea all the time but here’s where I differ. One is the number of optimal clients an advisor should aim for.

11:14 – Let’s hypothetically say 200 clients is the right number. How could you handle the workload efficiently, take a month off each year, live 300 miles away from your office, and make seven figures?

11:32 – The easiest ways to grow from $3,000 per client to $5,000 per client. First, adopt an AUM model.

15:54 – The challenge is to make sure we manage all of client’s money rather than just some of it.

16:58 – Second thing, managing money takes a lot of time so don’t manage it. Use a turnkey asset manager.

17:56 – The third thing is proactively connect with your clients using a group-type format.

19:20 – How often should we have review meetings with our clients?

20:22 – Systems are going to be the key in streamlining all of these things.