Cutting Costs, Boosting Efficiency: How MDRN Capital’s Virtual Retirement Planning Model Is Transforming Client Acquisition

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Outdated, inefficient, and imprecise — these three words aptly describe the traditional approach to client acquisition in retirement planning.

“With traditional firms, clients are commonly sought with antiquated methods like mass mailings or educational seminars, both of which incur significant costs for the investment firm that are ultimately passed on to the client,” explains Aaron Cirksena, Founder and CEO of MDRN Capital. “Modern capabilities, however, have led to the emergence of virtual retirement planning agencies that offer cost-effective alternatives.”

MDRN Capital is a full-service investment firm that is transforming client acquisition by embracing a virtual retirement planning model. It is a fully digital firm that provides clients with enhanced efficiency and convenience through digital account openings and remote consultations.

By leveraging modern digital capabilities, MDRN Capital connects with clients and meets their retirement needs with precision. Because MDRN Capital has moved on from outdated client acquisition models, it is able to offer its clients added value and savings.

“By leveraging digital marketing strategies, our agency can reach potential clients at a fraction of the cost of traditional methods,” Cirksena shares. “Today’s digital tools empower a targeted approach that not only reduces acquisition costs but also ensures efficient resource allocation, ultimately benefiting our clients by providing them with more cost-effective retirement planning services.”

MDRN Capital passes on the savings to its clients by providing services with management fees that are 30 to 40 percent lower than those charged by a typical advisor using traditional methods. In addition, MDRN Capital is able to offer enhanced services, including tax planning, tax preparation, and estate planning, all at no additional cost.

 

A new paradigm born from the pandemic

MDRN Capital’s fully remote model is an innovation that stems from Cirksena’s experience in the wake of the COVID-19 pandemic. During the pandemic, his advising relationships shifted from in-person to online. 

When the social distancing measures demanded by the pandemic were lifted, Cirksena discovered that his clients were not in a hurry to shift back to in-office meetings. They wanted to continue to experience the convenience and comfort that Zoom calls afforded them.

“Our clients had gotten used to simply logging on from wherever they were — at home, at the office, on vacation — and didn’t want to deal with the traffic, parking, and other challenges required to make it to our offices,” Cirksena says. “Even those who lived just minutes away opted for Zoom meetings rather than joining us at our posh class-A office space.”

As Cirksena contemplated the shift in client desires, he decided that if he couldn’t beat them, he would join them. “I developed a vision for a completely virtual firm that could provide the convenience clients wanted while also meeting their ongoing investment needs,” he recalls, “but convenience would not be the only benefit. I realized going virtual would do away with many of the costs that come with having a physical office. By implementing a virtual model, we could serve our clients more efficiently and pass the savings on to them.”

 

A modern firm for modern needs

The firm that emerged from Cirksena’s vision focuses on meeting the needs of modern investors with three main features: convenience, comfort, and efficiency.

“By offering virtual advising, we are essentially offering to come to our clients wherever they are to serve their needs,” Cirksena explains. “What could be more convenient than that? There’s no traffic, no detours, and no parking garage fees. There’s also no travel time, which means no wasted time for our clients.”

By allowing clients to choose their own setting for client meetings, MDRN Capital facilitates appointments that prioritize comfort. Clients connect from their home or personal office, wearing their favorite clothes while sitting in their favorite chair.

“Retirement planning involves important conversations that should take place where you feel most comfortable,” Cirksena says. “We want to make sure nothing distracts our clients as they engage in discussions that will determine their future.”

Finally, MDRN Capital’s model also enhances the efficiency of the retirement planning process. Meetings are direct and focused, with no distractions or barriers. Modern technology allows key documents and data to be accessed and shared with a simple mouse click, and meetings can be automatically recorded so that clients can revisit advice whenever they have questions. It’s real-time financial planning delivered at the pace of the modern world.

“It was clear from the beginning that a fully virtual model was a win-win, benefitting both clients and advisors,” Cirksena says. “Clients get more convenience and cost savings, while advisors can focus more time and energy on client services and relationship building. It’s an approach that is ushering in a new era in retirement planning.”

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