Growing To $350M AUM By Putting Client Cash Flow At The Center Of The Planning Process: #FASuccess Ep 493 With David Mozeika

Welcome everyone! Welcome to the 493rd episode of the Financial Advisor Success Podcast!

My guest on today’s podcast is David Mozeika. David is the founder of TOMORO, an RIA based in Red Bank, New Jersey, that oversees $350 million in assets under management for 600 client households.

What’s unique about David, though, is how he approaches financial planning from a cash flow perspective, treating income as an asset to be distributed based on a client’s goals.

In this episode, we talk in-depth about how David treats cash flow planning not as a budgeting exercise but rather as an opportunity to default clients into saving rather than spending, how David uses what he calls a “cash flow reservoir” to hold client income, with a portion of the reservoir transferred to the client’s checking account for spending (frequently leading to greater savings than transferring extra cash from the checking account to savings or investment vehicles), and how David’s approach helps clients reduce their “unconscious spending” (such as on subscriptions that they might not use often) and supercharge their savings.

We also talk about David’s four-part “financial positioning” process (which includes protection, growth, estate planning, and cash flow) and the milestones he wants to hit when meeting with prospects, how David treats meetings with ongoing clients as a forward-looking “calibration” process based on changes in their financial situation, and how David puts an emphasis on “defense” in the planning process, digging deep into clients’ insurance policies to ensure their coverage is commensurate with the growing wealth they achieve over time.

And be certain to listen to the end, where David shares how he created his own software solution to run his “income under management” cash flow planning system (and began to offer it to other advisors), why David made the transition to the RIA model after building a successful career within the insurance channel, and how David has ultimately found success by leaning into his unique talents to solve other people’s challenges.

So, whether you’re interested in learning about an alternative approach to client cash flow management, the potential benefits of sending client income to a “reservoir” rather than their checking account, or how to leverage ‘defensive’ strategies to improve client outcomes, then we hope you enjoy this episode of the Financial Advisor Success podcast, with David Mozeika.