Welcome to The Adapter’s Advantage: Breakthrough Moments that Lead to Success.

Kate Holmes CFP, founder of Innovating Advice, consults with financial services professionals globally. In episode 33, she shares how she collaborates with her clients, the importance of pushing through your fears, and her advice for forward-thinking financial advisors.

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“I was determined to build a business that fit around living an amazing life, rather than squeezing my life around my business.”

Kate Holmes is the energetic and passionate founder of Innovating Advice. As a tireless advocate for the financial planning profession, Kate thrives on bringing innovation to financial services around the world.

At Innovating Advice, Kate brings together the global financial planning community and highlights innovative advisors through her podcast, The Innovating Advice Show. She inspires from virtual and in person stages around the world and collaborates with individuals and companies to build innovative, thriving businesses alongside creating their happiest life.

As the intended successor of her mother’s successful fee-only investment advisory firm, Kate learned all aspects of the business, obtained the CFP® designation and became a shareholder. But as she looked toward the future, she couldn’t shake the feeling that there was a better way of doing things and that the existing financial planning models were outdated.

In 2013, Kate started one of the first completely virtual, fee-only, monthly retainer (no AUM) financial planning businesses in her quest to change the profession and live her happiest life. In the years since, Kate has had the pleasure of speaking, consulting, and working with financial services professionals in over 35 countries and territories.

Kate is often featured in the media, is a 2016 InvestmentNews 40 Under 40 alum and has served on CFP Board’s Women’s Initiative (WIN) Council since 2014. Having worked virtually throughout her career, she can often be found traveling the world (when the world is open for travel) or enjoying the sunshine at home in Port Charlotte, FL.

Listen as Kate shares why financial plans need to keep up with life—and why that takes a holistic approach.

Episode 33: Building a Business For Life | Kate Holmes

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From This Episode

Host Mark Magnacca: “Can you share a pivot point that changed your approach to running your business?”

Kate Holmes: “I had hundreds of conversations with people that were at the end of their careers, getting ready to retire. I like to really get to know people and dive a bit deeper. I would often take quite a while to talk about the financial side and the life side.

“Time and again, I would hear a lot of regret in people’s voices. They stayed at the same job because they had to have the money, because they had kids in the house, and all that stuff. One client in particular had a very successful business. When he was just six months into his retirement, he went in for a completely normal outpatient procedure, ended up getting an infection, and dying.

“I just looked around and was like, ‘I don’t want to wind up like these people. Life is for living now, not for living later.’

“When I started my business, the number one question I always ask clients is ‘When are you happiest?’ Not ‘What makes you happy?’ because that can be a laundry list. But specifically ‘What are you doing when you’re happiest?’

“And I tried really hard to follow my own advice. I was living somewhere I didn’t want to live. I was in a relationship that did not allow me to be my happiest and I was like, ‘I don’t want to be 40 years from now and have all these regrets.’

“I was determined to build a business that fit around living an amazing life rather than squeezing my life around my business.”

About The Adapter’s Advantage

Our podcast features leaders from sales, training, and industry who share their personal journeys of transformation and how they are adapting to an ever-changing environment. As your host, I’ll introduce you to some of the most interesting and inspiring people I’ve met over the last twenty years.

The conversations dive into the ups and downs of their journey. Our guests focus on inflection points—the aha moments that, in retrospect, had a critical impact on their success. These interviews will leave you with practical, real-world advice that you can apply to your life.

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