ROI Financial Advisors, LLC, offers financial planning and seeks lifetime partnerships. After working for seventeen years in one of the most well-known financial institutions in the country and rising to become one of their top advisors, Lance J. Johnson, now CEO and Investment Adviser Representative, started ROI Financial in 2012. ROI Financial enhances money-people relations, and with that, they mentor, advise, and empower clients. Money should build riches, independence, and quality of life; therefore, they encourage their customers' financial success, manage investments, and plan wealth to become trusted advisors to their clients.
Lance learned from clients that the industry needed to unify important services that had been split for various reasons, removing enormous value for clients. ROI Finance was founded to provide a Costco-like retail finance concept. They have a varied line of in-house products and services, uniform locations, customer-friendly return rules, and higher compensation and benefits, so clients rarely see angry employees. Their technology lets them control every aspect of the client experience and give more value at a lower price than their competitors.
Since maximizing ROI clients' time is irreplaceable, Lance began strategizing how to build a one-stop shop, asking himself what industry professionals his clients would need to meet with and what solutions ROI could offer them in-house or through a trusted network. He believed answering these questions would set ROI apart from other financial institutions that don't ask clients what they need outside of financial services or are trapped in a model that won't let them. Through partnerships, they offer financial and tax planning, investment services, tax preparation, bookkeeping and payroll, real estate, property management, construction, and marketing and design for business owners because they want to add services as they grow.
Lance believes ROI Financial should always look for model businesses or other professionals to improve. He finds these firms through books and podcasts and tries to adopt new processes into ROI when he finds a good concept. He delivers something that resonates with his employees and empowers them to establish processes and strategies to entrench these ideas in the ROI culture that emerges intentionally.
Client planning is extensive and tailored year-round. ROI Financial's expanding in-house offerings benefit clients and accelerate staff learning. ROI hires young professionals, and in their first year, employees learn more by viewing the whole organization and doing different duties. Whether they remain or leave ROI, employees enjoy improving as advisers and professionals. Every employee may lead ROI Financial with this real-world development. Ownership makes employees entrepreneurial. Students learn to work smarter, not harder, like business owners, and that their effort directly affects their results. In view of the fact that they employed a proactive problem-solver, the client gets superior service.
ROI Financial is a growth organization that works to improve employees' skills and systems. One-stop shops offer more value and lower costs than several businesses due to economies of scale. They target multi-generational clients, business owners, or beginning savers with younger advisers who will grow with them. Optimizing their systems and absorbing company practices can help them expand. Small to mid-sized enterprises with proprietors who want to retire knowing their longtime clients are taken care of, and this enables people to leave something they're proud of when their next best continuity plan isn't optimal or doesn't exist.
Lance worked as a financial consultant for a famous company before buying his first facility and discovering the one-stop-shop financial sector idea. Later, this included tax services, bookkeeping, payroll, marketing, real estate, property management, and construction through acquisitions and partnerships. They may offer over 10 services under one roof at lower prices in a few years, meeting their 2008 aim. His success is due to firm-wide processes. Two years ago, he started a company-wide written process for all systems. Lance also enjoys introducing new clients to year-end tax planning when ROI adds a tax practice. Most clients are unfamiliar with this, but it can be a good introduction to their financial services, especially in the first year. It shows their larger, more progressive workforce, since their multi-business market is important. Lance's team created a handbook. His team can rapidly verify the documentation for any process questions, which speeds up new recruit training. To maintain quality service as they create new offices and grow the ROI team, processes are essential.
Based on his experience, Lance recommends leaders define a goal, work backwards to determine the steps, and then work toward it. The penultimate stage is crucial—you must arrange concept development like a sport. To prevent a treadmill, set weekly, monthly, quarterly, and annual goals and critically evaluate your progress. He believes you're as excellent as your weakest skill set; therefore, focus on these while self-assessing and employing people who complement your strengths and weaknesses. You can reach any objective if your team adopts this attitude, he adds. Lance prefers straightforward communication, which saves time. He has attended meetings where people lie to avoid confrontation or criticism. Resolving issues immediately yields faster results. Trusting your team and having goals allows for honest communication. He also investigates patterns in successful entrepreneurs' decisions from numerous sources. He weighs scale, the biggest group deal, risks, benefits, and hedges to reduce uncertainty since he believes it distinguishes a well-researched, planned conclusion from coincidence.
They're perfecting their acquisitions and onboarding procedures, signaling rapid expansion with scalable ways for more acquisitions and organic growth. Lance expects an ROI of $5 million–$6 million across all firms and $30 million–$40 million with several office sites in different cities and states in five years. Site-wide process uniformity will improve employee education since office location doesn't alter clients expectations. ROI is growing in Hillsboro, Portland, and Bend, and Lake Oswego, Beaverton, and Gresham follow state expansion rules. They may become a mid-sized firm, investigate new firms, and raise money faster by adding offices and staff.
Posted in CLF | 10 Best CEOs of 2023, Lance J. Johnson, CEO / IAR of ROI Financial Advisors, LLC Profile