049: Erica Pauly on What Financial Advisors Should Actually be Tracking to Maximize Revenue

049: Erica Pauly on What Financial Advisors Should Actually be Tracking to Maximize Revenue

In today’s conversation, I’m thrilled to speak with Erica Pauly. As the founder of Track That Advisor, Erica has created a business that solves one of the biggest problems I’ve seen financial advisors face over my last 11 years in this business… Here’s how the conversation typically goes:

I hop on a coaching call and the first thing the advisor asks is, “How do I get more qualified appointments on my calendar?

My response: “How are your current marketing funnels working? What’s your cost per appointment? What’s your closing ratio per funnel? What’s your ROI per funnel on every dollar spent?

Unfortunately, the answer I get 99% of the time: “I have no idea. How would I track something like that?

Enter Erica and Track That Advisor who specializes in just this, helping financial advisors track all the metrics that matter in their business. At this year’s Journey event, which is an event we host twice a year at Advisors Excel where our top offices open up their entire playbook and share all of the marketing, branding, and everything else that’s lead to their success, the theme I heard more than any other was, “Erica Pauly of Track That Advisor changed our business. She’s amazing, her team is amazing, and basically our business is in a whole different place thanks to her.

When I heard that from one office generating over $60 million of new assets each year, followed by an identical statement from a second office generating over $100 million annually, I knew I had to get Erica on the show.

Today, we discuss how financial advisors at every level can use data to work smarter – not harder. We explore how smaller firms can intelligently scale and make their first hires, as well as how larger firms can track their numbers to make sure each and every advisor on the team is performing at their optimal level.


Here are a just a handful of the things that you’ll learn:
  • [07:50] Erica tells the story of Track That Advisor, how she was (in her words) raised by Advisors Excel – and how watching advisors struggle with marketing events that flopped, and then even worse, making knee jerk reactions without knowing their numbers, led to her creating a company to help with meaningful tracking and analytics for the financial industry.
  • [13:30] Erica gives a 30,000 foot view of a financial services firms’ growth process and how to make the transition from salesperson to CEO – including the very different types of data she tracks at every level along the way.
  • [20:23] Erica shares “Aha!” moments from offices she’s helped when it comes to their marketing and sales funnels – and the big changes that firms made once they had proper analytics in place.
  • [30:29] Find out why your firm’s mindset needs to change as you scale – and hear a powerful story about how having A+ talent on staff can turn little things like nightmare client emails into non-issues and how it can pay big dividends down the road.
  • [41:19] Common issues Erica sees with pay structures as firms grow – as you transition from a solo advisor to an office with multiple reps – and her recommendations to keep associates and staff members engaged, rewarded, and motivated based on performance and pay.
  • [1:11:03] Why so many of your office staff dread when you come back from industry training events wanting to track data that’s all over the place – and how this, combined with listening to your emotions (instead of good data) can waste your team’s time and lead to bad decisions.

And one more added bonus. Since Erica works exclusively with Advisors Excel, if after giving this episode a listen, you are interested in Erica and Track That Advisor’s services… she’s done you all a special favor. Even though she’s currently only onboarding 2 advisors per month into her program – to maintain her high customer service standards, I talked her into reserving a few spots for Blueprint listeners that may be interested in taking the next step with Track That Advisor. You can apply at www.BradleyJohnson.com/trackthat if you’d like to see if you qualify!



  • [10:09] The big reason so many financial advisors’ marketing systems need to be more closely connected in order to succeed.
  • [11:00] The phenomenal traits that Erica says lead to major issues for many financial advisors across the board – and why tracking too much data becomes a trap for so many firms.
  • [16:59] The typical ROI that Erica wants to see from a standard seminar.
  • [22:14] How Erica used data to make one firm’s second appointment rate from radio ads skyrocket by changing their strategy.
  • [22:58] Why we as financial advisors need to stop shrugging off client dropoffs – and the power of making small tweaks to bring in hundreds of thousands of dollars in additional revenue each year.
  • [25:32] Ways CEOs can show their advisors and salespeople that every lead and every appointment matters – and why knowing your numbers makes this so much easier.
  • [27:17] Allocation models, strategies, and challenges many firms face as they scale – and how revenue streams change during this transition.
  • [32:47] The role Erica recommends hiring for before any others, what to look for when making this hire, and what they need to do in order to succeed in this position (HINT: it may not be what you think!).
  • [37:25] Why Erica works predominantly with sales people, staff, and team members more than she works directly with advisors.
  • [38:12] The core tools and best practices Erica swears by for financial services firms – and why she never imposes her own system upon a firm that has something that’s already working.
  • [40:43] The key metric that every marketing person needs to maintain in order to ensure their firm’s success.
  • [46:31] Ways your firm can screen leads to ensure that they’re prequalified and likely to move on to a second appointment.
  • [46:51] Erica breaks down what some of her highest-performing large offices with many associate advisors look like – and why your system becomes a strict numbers game at such a high level.
  • [51:12] How Erica used data to reveal to one firm that one of their associates, who appeared to be high performing, wasn’t actually bringing in any new business while spending tons of money – and devised a win/win solution for everyone involved.
  • [52:33] Erica and I look at some of the biggest offices I coach – and the fears many CEOs have about hiring, retaining, and keeping associates busy.
  • [54:04] Key takeaways from Erica’s top-level, top-performing offices – and how a disconnect between stories helped one office make the right hiring decision.
  • [57:11] Why ROIs went down across the board last year – and why growing a financial firm is kind of like franchising McDonald’s.
  • [01:01:12] Why training and tracking new advisors is so crucial to successfully scaling.
  • [1:07:12] What Erica tracks and reviews at firms she works with to make sure that teams are following the founder’s process.
  • [1:14:45] What Erica would tell her 20-year-old self – and why it’s okay that nothing ever goes according to plan.
  • [1:15:20] The reason Erica’s dad is the first person she thinks of when she hears the word success.
  • [1:17:52] The reason Erica thinks the Apple Watch is ridiculous – and looking at a text on your watch is just as rude as pulling out your phone in the middle of a meeting.
  • [1:17:01] Why Erica recommends that no advisor make decisions with their gut.



Thanks for checking out the latest show, on to this week’s featured reviews! Before we get to them, I just have to say that you all continue to blow me away with your kind words and feedback, I really appreciate the couple of minutes you all have taken to share your thoughts as the reviews help our show get found and rank on iTunes. Also special thanks to those of you who took the time to leave a review since our last show as we are currently sitting 1 review away from 125, so who’s going to be the one to get us there???

This week’s first featured review comes to us from user Thrive55 who says:

thrive55 - elite advisor blueprint itunes review

Thanks for the review Thrive55! My goal is to not just bring people in finance to the show, but those who can bring outside concepts and ideas that can be applied to financial services as well. I’ve gotten amazing feedback from the episodes with Michael Hyatt, Tucker Max, Cameron Herold, John Ruhlin, Joey Coleman, Hal Elrod, Pete Vargas, Chris Smith, who are all outside of our industry. It’s been fun seeing advisors take their ideas and concepts and apply them to the financial planning world. So if you’ve missed any of those episodes, go back and check them out! Thanks for listening.

The next review comes to us from Rob who might be the most highly credentialed reviewer yet as he’s also a CLU, ChFC, RICP, he says:

rob clu - elite advisor blueprint itunes review

Rob, thanks for the kind words and the review! Love that someone with your knowledge base and experience in our industry is listening in! Also, one of the best compliments anyone who coaches others could ever receive is that they are good at “simplifying the complex.” So thank you. I’ll do my best to keep our show on your “must listen” list!

Next up is user ajstoller who says:

ajstoller - elite advisor blueprint itunes review

Thanks for the epic review ajstoller, these type of reviews really keep me doing the work to put this show out! I need to come up with some kind of an award for those of you out there who have listened to every episode, so if you think of something aj, hit me up out on Twitter and let me know what you are thinking… In the meantime, glad the show is serving you and if I’m going to have someone complain about the show, I’ll take yours about wanting more episodes! Coaching advisors does happen to be my full time job, so as it stands today, that’s why you get an episode every other week, and for those of you out there who are loving the show and want to apply to see if 1 on 1 coaching with me makes sense, you can do that at www.bradleyjohnson.com/apply

And the last featured review for the week comes to us from user jbisulca who says:

jbisulca - elite advisor blueprint itunes review

Thanks jbisulca, I appreciate the review! When I started up the podcast, I wanted to not only interview interesting people I thought could bring value to all of you, but also do my best to share some of the tools they may have to offer to help you take the next step to actually implement what they had to share. It seems to be working as you all continue to bombard the website with downloads for all of the tools, so we’ll keep making them available!


Take the 1st Step to Building Your Ideal Practice: Apply for “Virtual Discovery Session

For those of you that have interest in diving deeper or figuring out how you may be able to have our team help you implement many of the ideas shared on the show, my day job happens to be consulting financial advisors from all over the US on how to grow their business and design a practice that serves them, versus them serving it. Yes it’s possible to grow your business and work less, this is a model we’ve replicated over and over in markets all over the country… So, if you’d like to apply to see if it makes sense for us to have a 1-on-1 conversation on how to overcome what may be getting in your way, you can do that at bradleyjohnson.com/apply. It takes about 5 minutes to fill out the application so we can understand what your business looks like, what challenges you may be facing and how myself and my team may be able to help. We then dive into a Discovery session where we ask a lot of questions based on your survey. We do a lot of listening, and take a lot of notes to build a rough draft of our proprietary Elite Advisor Blueprint – 90 Day Plan™. Taking the first step is as simple as applying at bradleyjohnson.com/apply 🙂


Already heard it once or twice? Please leave a short review here, and tell me which guests I should have on!




Read More



This is provided for informational purposes only. Producers are ultimately responsible for the use or implementation of the concepts discussed​. Results from the use of these concepts are no guarantee of your future success. Although we may recommend and promote Track That Advisor we cannot guarantee the quality or accuracy of their services.

AE06184075 For financial professional use only.

Posted in

Brad Johnson

Subscribe for new episodes of The Elite Advisor Blueprint® Podcast.

Subscribe to Brad's Podcasts and Updates

Brad podcast v2

Also, get access to WealthManagement.com exclusive articles with key takeaways that you can put into action at your own practice!

Robert Glazer

081: Robert Glazer on Elevating Your Team and Creating a High Performing Company Culture

kirk lippold

080: Commander Kirk Lippold on USS Cole Al-Qaeda Attack & How to Lead in Times of Crisis – The Virtual Financial Advisor Series™

Maria Konnikova

079: Maria Konnikova on The Psychology of High-Stakes Poker and How it Applies to Financial Services

Simon Bowen

078: Simon Bowen on How to Use Visual “Whiteboarding” Models to Simplify the Complex – The Virtual Financial Advisor Series™