Few situations feel more daunting than being asked a question in a client meeting that you can't confidently answer. 😵 When handled skillfully, saying "I don't know" can actually enhance – not undermine – credibility and reinforce long-term value.

The latest #Advisortech for July 2025 is out! Here are some of the latest news and trends: -@Wealthbox Sells A $200M Majority Stake To PE Investors -@Envestnet_ Sells @Yodlee -@ConquestPlanInc Raises $80M -@NerdWallet Launches A Subscription-Based RIA

Leveraging Educational YouTube Videos To Drive Hundreds Of New Clients Per Year: James Canole shares how Root Financial has experienced massive growth thanks in part by attracting clients who have engaged with his educational YouTube videos. #FASuccess

In 2023, the median client acquisition cost (CAC) for advisory firms was $3,800, a 75% increase since 2021. When looking at CAC by practice size, acquisition costs are especially high for larger practices and quite low for smaller ones.

When the client isn't in crisis but has clearly drifted off track (e.g., spending more than planned), they may not feel the same urgency as the advisor to address the issue. @MeghaanL shares how to reframe these issues into collaborative engagement:

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No one wakes at 2am in a cold sweat thinking, "I need me a comprehensive financial plan." Or I need to cry on a financial planner's couch. 🤷‍♂️ In this Kitces & Carl, we discuss pros and cons of holding financial psychology conversations early.

Growing AUM by $30 million in 2 years by being recognized as a financial planning expert within Facebook groups: @misty_lynch22, owner of Sound View Financial Advisors, shares her story:

How effective are different client acquisition tactics? Our research reveals a fascinating disconnect between what advisors think works and what actually drives effective marketing. The most effective approaches aren't always the most popular.

What's new at Kitces? First look at the new Kitces Members Section and the State Of The (Nerd’s Eye View) Blog: ➡️DFP Community ➡️Expanding Our Kitces Training Courses ➡️The Return Of IAR Ethics CE Day