We were lucky to catch up with Rachael Burns recently and have shared our conversation below.

Rachael, thanks for taking the time to share your stories with us today If you could go back in time do you wish you had started sooner or later?

Before I launched my firm, I had worked under big corporate investment firms for about 13 years. I was comfortable being an employee and appreciated the simplicity of delegating all business management tasks to my employer. All I had to do was show up, do my job, and go home. I knew hardly anything about running an independent practice, so it wasn’t something I aspired to do.

Over the years, I found that I had preferences for working with certain types of clients, mainly divorced women and widows. I also noticed that these clients weren’t being served in a way that spoke to their individual needs. I began to see the limitations of the one-size-fits-all approach to the big corporate investment firms.

It wasn’t until we were all stuck in COVID lockdown that I started to daydream about what it would be like to start my own firm. Life had evolved after getting married and having kids, and my priorities shifted toward flexibility and more meaningful work. I was energized by the idea of running a practice where I only worked with my ideal clients and could tailor my services to what they needed.

I then devoted every second of my spare time to researching launching a firm, and within a month or so, I had a solid business plan I was ready to implement. It was a terrifying leap, but I knew it was the right thing to do. I have never looked back since. Running my own firm has been one of the most immensely gratifying experiences of my life.

If I could go back in time, knowing what I know now, I would have started my firm earlier. I didn’t realize I already had the experience, confidence, and resources needed to launch several years prior. However, I don’t have any regrets about the timing of starting my business. I wasn’t motivated to make such a drastic change in my career until I experienced drastic changes in my personal life. It happened at the perfect time.

Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.

I am a financial advisor specializing in women who find themselves suddenly single, due to either divorce or the death of a spouse. I help them make sense of their finances and come up with a plan for their future that makes them feel confident and empowered. I offer financial planning, investment management, and mid-divorce financial analysis tailored to the unique needs of newly single women.

I got into this niche after spending many years working in “traditional” wealth management. I noticed that many women felt nervous managing finances on their own after divorce or the death of a spouse, especially if their spouse handled it for them during the relationship. They are often already overwhelmed by the traumatic event that led them to become single, and the new financial responsibilities just compound the stress.

The traditional wealth management industry isn’t equipped to handle their unique needs and circumstances of newly single women. It focuses on investments and performance rather than their goals and concerns. I started True Worth Financial Planning to meet these women where they are and deliver expert advice and guidance in a way that resonates with them and inspires them to change their financial trajectory.

The thing I’m most proud of is that I launched my first book this year. It’s called “SOAR: Four Simple Steps To Confidently Manage Finances After Divorce.” It’s a simple, easy to read book that gives new divorcees actionable steps they can take now to get their finances on track. You can check it out at https://soardivorcebook.com/.

What’s been the best source of new clients for you?

Referrals from my professional network have always been the best source of new clients for me. In my early days of starting my firm, I regularly reached out to new connections on LinkedIn, expressing a genuine interest in their work and asking them if they’d be willing to chat. My goal was not to make contact with prospects directly, but instead to create relationships with the trusted professionals in their lives.

I was surprised by how many people were willing to take the time to talk to me. I met some fascinating people, made some important business connections, and even made some personal friends along the way. I got so many referrals that I even had to slow down or pause my LinkedIn outreach a few times.

You can pour money and effort into all sorts of marketing strategies, but I believe you are better off investing in your network. Focus on nurturing your existing relationships and growing new ones, and your business will grow naturally.

Any stories or insights that might help us understand how you’ve built such a strong reputation?

I have always had a servant’s mindset when it comes to business. My singular goal is to be helpful and make my clients’ lives easier, but that extends to non-clients as well. I get a lot of prospects who reach out to me but aren’t a good fit to work one-on-one with me. I never send them away until I’ve done something helpful for them, whether it’s answering questions or referring them to another professional. I don’t financially benefit from putting in the extra effort, but it’s helped build my reputation as someone who is committed to helping other women.

Contact Info:

• Website: https://trueworthfp.com/
• Instagram: https://www.instagram.com/trueworthfp/
• Facebook: https://www.facebook.com/trueworthfinancialplanning/
• Linkedin: https://www.linkedin.com/in/rachaelvburns/
• Youtube: https://www.youtube.com/channel/UCUPuMBSYPtyF5S9c_ZolFHw
• Other: Link to my new book “SOAR: Four Simple Steps To Confidently Manage Your Finances After Divorce”: https://soardivorcebook.com/

Image Credits

Alina Tyulu