Building a Monthly Retainer Firm in Brazil - The Career of André Novaes

Episode No. 87 | February 15, 2017

On today's episode we hear from André Novaes, founder and CEO of LifeFP. LifeFP is a monthly retainer firm in Brazil with about 3,000 clients, 45 advisors, and a grand vision. If André had his way, 95% (or more) of Brazil's population would have the opportunity to design their lives with great financial planning.

André came to the US at seventeen to play basketball, when his "American dad" introduced him to the profession of financial planning. André saw advising as an opportunity to marry family, work, and helping other people, and became determined to do just that.

In this interview, André talks about his journey to establish Life FP and establish the financial planning landscape in Brazil. He discusses why they don't have assets under management at LifeFP, just dreams under management, and the tools he uses to build strong rapport with clients.

With about 70% of his clients under the age of 35, his advice about gearing financial planning toward young families is especially relevant. André also shares how he makes the monthly retainer model work for him and his advisors, and how he gets clients to pay 5% of their income for financial planning services. Finally, we talk about where LifeFP will go next, including growing their digital education and advising platforms, and eventually expanding to the US.

Listen to the Full Interview:

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What You'll Learn from This Episode:

How André's experiences in the US as a young man shaped his outlook on life and the impact of financial planning.
Why LifeFP focuses on "dreams under management," rather than assets.
The emphasis on long term strategy at LifeFP that helps clients feel more secure in trusting advisors with their income.
How André's sales process differs from that of other advisors.
Why young people want to be the heroes of their own financial lives, and how to guide them to that goal.
What the future looks like for LifeFP.
Why André wants to eventually expand the company to the US.