On this edition of our advisor showcase blog, we spoke with the founder of Nurture Financial Planning, Brandon Rivera. Brandon gave us some insight into why he chose to become a financial planner, how he found his client niche, and what his new website has done for his business.
Tell us about yourself & Nurture Financial Planning – what inspired you to start the practice?
Since I can remember, my upbringing was always surrounded by the world of financial planning. My mother was an administrator in a very large financial services company. While growing up I was never really attracted to the industry. Throughout my upbringing, I was excited to either become a firefighter, police officer or surgeon. Finally, during my undergrad years in college I decided to change paths and pursue financial planning.
Here we are today after almost 14 years. For the bulk of my years of practice, I did not really have a focus or niche. This approach was very challenging for me.
The paradigm shift really began when I decided to design a new practice. Much credit goes to fellow industry leaders Alan Moore & Michael Kitces, from XY Planning Network. These guys provided the platform and tools for exactly what I needed. Their premise is to narrow down and focus on a niche. Build a practice from the inside-out. We are granted a finite amount of time throughout the day.
So, I went to the drawing board. Throughout my thought process, I kept asking myself questions. The main questions were: what careers am I passionate and care about the most? What challenges are these professionals facing? And, how can I create an attractive practice to focus on these professionals? When all was said and done, I designed Nurture Financial Planning to specialize with medical professionals. We all love medical professionals because they help us make life happen.
Your business model focuses on a specific niche, medical professionals. Tell us more about your audience and how you found your “sweet spot.”
Aside from the typical financial planning components (retirement/investment, etc.), our business model helps medical professionals with financial life planning. Together, we help our clients focus on what matters most in life and design meaningful plans with direction.
From a behind the scenes perspective, we help seasoned medical professionals looking to transition into private practice, sell or acquire practices. For resident physicians, we address student loan debt and structure a strategy with repayment options. Also, for resident physicians, we understand the importance of finding the right community to make their home, workplace and create a family in. Our firm also consults with other relocation specialists on behalf of our clients.
Your practice has a unique approach utilizing “mind-maps” for clients. Tell us more about this approach & how it fits into your financial planning process for clients.
I was actually introduced to mind-maps from a guest speaker, Evelyn Zohlen. She gave a talk at one of our last UCLA Capstone course meetings. This was an awesome talk. Evelyn emphasized and shared the importance of getting to know prospective clients by using a non-intrusive method. The mind-map method truly begins with honest questions and conversation. When all is said and done, the mind-map ultimately provides clients with an outline of the direction they expressed.
Your process in working with Twenty Over Ten began with logo design. Tell us about that branding process – how was it working alongside our team of designers to develop your new brand identity?
Finding a design team is pretty challenging; really challenging actually. Team is the keyword. I was introduced to Twenty Over Ten through the Financial Planning Association. Without hesitation, I submitted an inquiry and quickly received a phone call from Samantha (in sales). A complete and thorough run down of the process was explained and I signed up. After signing up, I was given a timeline of action items I needed to complete, as well as what Twenty Over Ten would complete. Personally, I love accountability; this made it a seamless process. After working on revisions with the team for over two weeks, we created a logo that perfectly fits my business.
Secondly, we also worked together to launch your new website! How would you describe the Twenty Over Ten website building process from your perspective?
In one word, the website building process can be described as smooth. There might have been minor changes I requested but this was based on my personal preference. Fortunately, the website turned out to be a beauty.
If you could pick one favorite feature about your new site what would it be and why?
Selecting only one favorite feature is tough. But I have to say the user-friendliness is king. Twenty Over Ten handles all the coding behind the scenes and the platform was robustly designed to provide customization, without headaches.
Since launching your new site, what has been one major success you’ve been able to achieve due to your new online presence?
The new site provided a sense of formality. Most importantly, it is truly a customized site, unique to our business (not a template like some other firms provide). Currently, we are in the planning process to launch our blog, vlog, and podcast. It takes time!
If you could share one piece of advice with other financial advisors who are considering embarking on developing their brand identity and launching a website what would it be?
Find a team you will work well with, as the design process truly takes a team approach! Twenty Over Ten’s process and team-based design approach were key. Each team member is truly competent and able to launch your vision.
Great advice, Brandon! Thank you for allowing us to showcase your website and for sharing insights into what makes Nurture Financial Planning so great!