Beyond Brick-and-Mortar: Why MDRN Capital’s Virtual Planning Offers a Smarter Approach to Retirement

Before the COVID-19 pandemic, Aaron Cirksena provided retirement planning services to his clients during meetings in his elegant Class-A office space. The environment was designed to make an impression, with high-quality amenities and courteous and attentive personnel. No expense was spared to make clients feel appreciated, respected, and well cared for.

The only problem with the space was its high rent payment, as Class-A offices are often costly. To protect their profits, companies that occupy those offices pass on the increased costs to their clients. For Cirksena’s clients, that meant higher advising and transaction fees.

Fast-forward five years, and Cirksena finds himself in a very different setting as the CEO of MDRN Capital, a full-service and fully virtual retirement planning firm. He eliminated the Class-A office space and the expense associated with it, passing on to his clients the savings that resulted from the switch.

“Adopting a completely virtual model allowed us to do away with the overhead expenses that stem from operating a brick-and-mortar office,” Cirksena shares. “As a result, we can create a lower fee solution for our clients. Compared with a typical advisor operating under a conventional model, our investment management fees on the entire client portfolio tend to run 30 to 40 percent lower on average. Additionally, the savings we create allow us to add services like estate planning, tax planning, and tax preparation for our clients at no additional cost.”

Cirksena and his team at MDRN Capital provide a complete and personal retirement planning experience that gives clients more earning potential through reduced planning fees. It’s financial planning for the modern world, leveraging today’s technology to prioritize the client’s best interests.

Capitalizing on the shift in client expectations

The vision for MDRN Capital was born during the pandemic when Cirksena was forced to meet with his clients via video conferencing platforms. As Covid’s social distancing orders were lifted, he expected his clients would want to get back to his office’s elegant surroundings. What he found, however, was that they preferred the convenience virtual meetings provided.

“My clients made it very clear 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.”

Cirksena quickly realized that the shift brought about by Covid could be used to serve his clients. By leveraging the video conferencing technology that had become more accessible during the pandemic, he knew he could provide advising services that were both convenient and cost-effective. As the vision evolved, he also realized that a virtual experience could improve upon what firms were providing via brick-and-mortar models.

“We describe what we do at MDRN Capital as a refined retirement experience,” Cirksena explains. “Our process removes the unwanted elements — including elevated fees — to deliver an improved experience that is elegant, cultured, and precise. It’s retirement planning defined by what our clients want, with everything else removed.”

Increasing the earning power of retirement accounts

To fully appreciate the value of MDRN Capital’s virtual model, one must understand how quickly advising fees can add up. For example, a retiree with $200,000 in savings who earns a 7 percent annual return can save $46,396 over 15 years by reducing the management fee from 2 percent to 1 percent. Cirksena’s approach allows him to offer clients savings on that level.

“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 with an option that is more convenient and cost-effective.”

Recent reports show Americans are struggling to establish savings to fund their retirement years. While statistics published by The Motley Fool reveal that only 34 percent of Americans feel their retirement savings are on track, another recent AARP survey found that 1 in 5 Americans over the age of 50 have no retirement savings at all.

Cirksena sees reduced retirement fees as a solution to the problem, providing value to both those planning for retirement and those who have already transitioned to that season.

“For retirees dealing with financial challenges stemming from rising inflation and other economic factors, it’s definitely helpful to reduce spending on things like gas and groceries,” Cirksena says. “But when they can cut their investment management costs in half, they experience significantly more savings than lower prices on consumer goods could ever provide.”