Sudden Wealth can strike in many ways. It can come through an inheritance, an athlete signing a lucrative contract, a legal settlement, the sale of a company, or even winning the lottery.
Sudden wealth can bring elation and a host of challenges.
Without a sound plan of action, sudden wealth can escape almost as quickly as it came. It can even leave debt in its wake.
In this episode of the Top Advisor Podcast, Bill Cates speaks with Myah Moore Irick, who has built and sustained a highly successful practice as a sudden wealth financial advisor helping her clients navigate their newfound fortune and resulting challenges.
Bill and Myah discuss:
- How Myah got started in her niche as a sudden wealth financial advisor.
- The type of sudden wealth clients Myah serves and how she meets them.
- How involvement in the community and philanthropic activities bring her new clients.
- Why she has chosen to build a diverse, multi-cultural team and why it’s been great for the health of her business.
- Bill’s answer to Myah’s question, “If you were building your practice today, what types of clients would you try to serve?”
Related: Defining a Target Market Strategy That Brings More Perceived and Real Value