Driving practice growth by working with multiple client segments

Brent Mowinski, CFP • Owosso, MI
Mowinski Financial LLC • LPL Financial

W​e are a full-service advisory firm specializing in financial planning, investment management, insurance services, and group benefits. We have developed what we call the “Mowinski Financial (MF) Formula” for addressing the holistic needs of clients, which begins with a deep understanding of each client’s financial and life goals, both qualitatively and quantitatively. From there, we use our extensive range of services to build comprehensive solutions tailored to each client’s needs across virtually every element of their financial lives. One of the key benefits of this approach is that each planning discipline is directly informed by our firsthand knowledge of the client’s total financial picture, rather than relying on input from a third party.

We focus on several client segments. Our primary segment consists of individuals planning for or in retirement, and we work across many demographics. We aim to engage these clients in a full working relationship across all our services, maximizing the benefits of the MF Formula. Clients often seem to experience a “wow factor” with this approach, leading to many referrals. We take pride in being able to implement complex strategies that integrate investment management, insurance services, and tax preparation. Health and Medicare insurance is another important area for us, often serving as an entry point for clients who then expand their relationship with our firm.

Another key client segment is small-business owners, with whom we work on financial, benefits, retirement, and/or insurance needs for their companies. This often evolves into comprehensive financial planning for their individual needs, including succession planning or guidance on exiting their business.

We also focus on clients working in health care. We are located near several medical facilities, and we work with primary care physicians, specialists, nurse practitioners, nurses, and others in the field. These clients, who tend to be affluent, often engage in full financial planning with us. If a physician owns a practice, we might also assist with retirement, insurance, or benefits planning for their practice and its employees.

Additionally, we serve veterinarians and small veterinarian practices in Michigan and nearby states. Over a decade ago, I was approached by AVMA Life to serve as an insurance representative in Michigan. We handle a significant amount of disability and life insurance for veterinarians and often manage group benefits for their offices.

Finally, we provide retirement-plan guidance to state employees and education workers such as professors and university and college staff, which can evolve into full financial-planning relationships. We can offer professionally managed investment strategies across these segments for 401(k) and 403(b) plans.

I have found that our work with multiple client segments, along with my involvement with several civic and community organizations, has led to building a large network of current clients, potential clients, or those able to refer prospective clients. This has led to consistent growth in our client base since we founded the firm.

Disclosure: Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC.

Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

Certified Financial Planner Board of Standards Center for Financial Planning Inc. owns and licenses the certification mark CFP® in the United States to Certified Financial Planner Board of Standards Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification mark.

Photography by Mark Chamberlin