For those familiar with streaming services, it’s not difficult to understand why Netflix’s viewership is increasing while movie theater attendance is falling. Netflix and other streaming services maximize convenience and affordability, making it easier and more comfortable to watch while avoiding the high cost of movie tickets.
Aaron Cirksena, founder and CEO of MDRN Capital, believes it’s time for a similar shift toward convenience and affordability in the retirement planning space.
“While the rest of the business world has evolved by adopting new technologies that empower lower costs and higher efficiencies, the financial services sector has lagged behind,” Cirksena says. “In the aftermath of Covid, when we saw that our clients were comfortable with the technology, we knew it was time to put it to use to deliver better services at lower costs.”
MDRN Capital’s completely virtual approach provides clients with increased comfort, convenience, and cost savings, as well as a broader range of options, allowing full-service and fully personalized retirement planning. It’s the Netflix of retirement planning, providing a new pathway to realizing your retirement dreams.
“A virtual model allows our meetings to be direct and focused,” Cirksena says. “You and the MDRN team are face-to-face on each call, with no distractions or barriers. It’s reliable real-time financial planning that meets you where you are.”
Making retirement planning more convenient
The vision for MDRN Capital emerged when Cirksena was forced to shift to online planning during the COVID-19 pandemic. When the pandemic receded, Cirksena thought he would get back to business as usual, which meant onsite meetings in his firm’s Class-A office space. What he discovered instead was that online meetings had become the new normal.
“When we invited clients back to the office, they declined, explaining they preferred the comfort and convenience of virtual meetings to the hassles associated with in-office advising,” Cirksena recalls. “Even the clients who lived only a few minutes away told me they would rather meet via Zoom than join me for a face-to-face meeting in our nice Class-A office space. They didn’t miss sitting in traffic and searching for parking spaces, and I couldn’t blame them for wanting to have the ease of meeting online.”
So, Cirksena decided he would give his clients what they wanted by launching MDRN Capital, a full-service virtual firm dedicated to providing a complete and personalized retirement planning experience. No matter where the firm’s clients are — at home, in their office, or on vacation — they can easily connect with MDRN Capital’s expert advisors to get the assistance they seek.
Making retirement planning more affordable
Another benefit Cirksena knew a fully virtual model could provide is enhanced affordability. By eliminating the overhead required to maintain Class-A offices, Cirksena could free up resources and provide enhanced services with lower fees.
“I realized that a virtual model could deliver far more than convenience because it would do away with many of the costs associated with having a physical office,” Cirksena shares. “MDRN Capital’s virtual model empowers an environment in which we could serve our clients more efficiently and pass the savings on to them.”
MDRN Capital’s clients get access to a fee structure that is unheard of in the retirement planning world. Compared with a typical advisor operating under a conventional model, its investment management fees on the entire client portfolio tend to run 30 to 40 percent lower on average. Lower overhead also means Cirksena and his team can offer enhanced services, including estate planning, tax planning, and tax preparation, at no additional cost.
“The traditional models of investment management and retirement planning are shortchanging investors, forcing them to shoulder fees that are no longer necessary,” Cirksena says. “The virtual model provides investors a more convenient and cost-effective option.”
Making retirement planning more precise
Providing enhanced personalization is another way MDRN Capital mirrors Netflix’s benefits. With the streaming service, viewers have many more options than they will find in their local theater, which enhances their experience by allowing them to decide what to watch on any particular night.
Cirksena takes a similar approach, providing precision planning defined by the client’s terms and nothing else.
“When I worked as an investor for large firms, I was limited in the options I could offer, which was frustrating to me and my clients,” Cirksena says. “As an independent firm, we’ve done away with those limitations. We draw from a full slate of products to allow clients to make the decisions that are most appropriate for them. It’s an approach that considers the lifestyle our clients have and empowers the lifestyle they are seeking.”
Just like Netflix, MDRN Capital helps clients have a comfortable and satisfying experience with fast access and full connectivity.
“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.”