Operations is the hidden engine that turns ambition into enterprise growth. Yet, for many firms, it’s overlooked until bottlenecks appear. In this episode, Rusty Sommer speaks with Matt Sonnen, Chief Operating Officer of Coldstream and host of the COO Roundtable podcast, about the pivotal role of operations in wealth management firms. Matt shares insights from his unique journey as a consultant and operator, the importance of community among COOs, and how process, people, and technology align for growth. Key takeaways: His career path from Focus Financial to running his own consultancy to becoming COO at Coldstream Why he founded COO Society and how it builds peer support and education for operations leaders Why process, not technology, is often the real source of trading and operational errors The dangers of chasing “more clients” versus focusing on deeper relationships with fewer clients How COOs must balance profitability, tech platforms, human capital, and AI adoption to prepare firms for sustainable growth And more! Connect with Rusty Sommer: Rusty.sommer@flyerft.com LinkedIn: Rusty Sommer Flyer Financial Technologies LinkedIn: Flyer Financial Technologies Twitter: Flyer_FT Connect with Matt Sonnen: LinkedIn: Matt Sonnen Coldstream Wealth Management The COO Roundtable Podcast COO Society About Our Guest: Matt Sonnen has over 25 years of experience in the financial services industry. As Chief Operating Officer, Matt manages all aspects of Coldstream’s operational platforms to identify opportunities to scale and systematize processes ensuring capacity for the firm’s continued growth. In addition, Matt will also oversee the firm’s Information Technology, Performance Reporting, Client Service, and CRM efforts. Before joining Coldstream, Matt was the Founder and CEO of PFI Advisors – a firm dedicated to consulting registered investment advisor (RIA) owners on best infrastructure and culture practices. Matt has been a thought-leader in our industry – publishing over 270 practice management articles, research papers, and podcasts. In June 2021, he launched The COO Society to create a community of RIAs centered around coaching operations professionals. Matt learned the ins and outs of the wirehouse model at Merrill Lynch in the late 1990s. Matt left Merrill in 2005, and a few years later, he was introduced to the RIA marketplace, helping build the infrastructure for Luminous Capital prior to its founding in 2008. As COO and CCO at Luminous, he navigated technology and compliance challenges as the firm grew from $1.7 billion in assets to nearly $6 billion in less than five years. Luminous Capital was sold to First Republic Bank for more than $100 million in 2012, after which Matt headed to Focus Financial Partners in New York City, where he helped partner firms streamline operations and improve back-office efficiencies. Matt graduated from the University of California, Los Angeles with a Bachelor of Arts in Economics. He currently resides in California with his wife, Reese (Larissa), and son, Luke.
