Preparing An Advisory Firm For The Risk Of A Market (And Revenue) Decline - Kitces & Carl Ep 147 

In the 147th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how advisors (especially those who joined the industry after the last correction) can protect their business against the market volatility risk inherent to a business model that uses AUM fees.
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Preparing For The Tough Emotions Marketing Downturns As An Advisor [1:08]
How A Firm’s Profit Margins Can Brace Against Downturns [11:38]
Buffering One’s Lifestyle Against Downturns As An Advisory Firm Owner [23:36]
Looking To Cash Reserves And Other Alternatives To Work Through Market Downturns [27:40]