The Financial Advisor Success podcast brings you real success stories and insights from the most successful financial advisors, and leading industry consultants, about how to take your advisory business to the next level. Get a glimpse of what it's like behind the scenes building a successful advisory business, and how entrepreneurial advisors navigate the inevitable highs, and lows, of growing a firm. Whether you're a new financial advisor trying to get started on the right foot, or an experienced advisor who's hit a wall, we're here to give you the insights and inspiration you need to break through and reach the level of success you want to achieve. Subscribe to the show, and get even more at the leading industry blog Nerd’s Eye View at www.Kitces.com.
Ep 282: From Executive Assistant To COO Scaling A $4B Advisory Firm with Allison Felix
Allison Felix is a managing partner and COO for Cassaday & Company, a hybrid advisory firm based in McLean, Virginia that oversees more than $4 billion in assets for nearly 2,500 client households. Allison has a unique story in that she has made the journey from executive assistant all the way to COO, helping the firm scale to 3X its size over the past decade alone. Today she joins the show to discuss the restructuring of the firm that ultimately pushed Allison to be chosen as the COO and the events leading up to this switch in the firm’s succession plan.
Listen in as Allison shares how Cassaday & Company developed its unique compensation structure, as well as how her firm has propelled its growth with weekly seminars that were honed by hiring coaches to give constructive criticism. You will learn why her firm has been expanding its service offerings, why she believes it’s important for future generations (especially young women) to understand the wealth of opportunities in financial planning, and why she feels that stepping into the role of COO was pivotal to create representation for women at her firm and in the financial industry.
For show notes and more visit: https://www.kitces.com/282
Ep 281: Leveraging Tax Planning To Create Unique Value For Small Business Owners with Duncan Kelm
Duncan Kelm is a managing partner for Arrow Point Wealth Management, a hybrid advisory firm based in Santa Rosa, California that oversees $163 million in assets under management for 142 client households. Today Duncan joins the show to discuss how he leverages owning and operating his own tax firm, in addition to his advisory firm, to offer more integrated tax planning and wealth management services to his small business owner clientele.
Listen in as he shares how he leveraged his tax expertise and years as a business consultant to build his own tax firm to offer full suite tax and financial planning to his clients, as well as how he created what he calls “character insurance” with his clients to help them define who they are and document their ethos for future generations. You will learn how Duncan struggled to accept becoming his father's successor, what mental toughness means to him, and why he chooses to no longer be outcome-focused.
For show notes and more visit: https://www.kitces.com/281
Ep 280: Overcoming The Pain Of Scaling: When The Second 100 Clients Is Harder Than The First with Brian Carney
Brian Carney is the co-founder of RiversEdge Advisors, an independent RIA based out of Delaware that oversees over $400 million in assets under management for 300 client households. Brian’s firm doubled in only 18 months, causing burnout, staff turnover, and the need to completely re-build their infrastructure to be able to sustainably scale to the next level, and he joins the podcast today to talk about how he was able to get the firm back on track to success.
Listen in as Brian shares how his firm’s massive growth actually turned out to be a nightmare in disguise, as well as how he was able to turn things around. You’ll learn how they have made operations a key focus of the firm and the lessons that Brian learned that will allow him to scale his firm to the next level in a sustainable and healthy way.
For show notes and more visit: https://www.kitces.com/280
Ep 279: Expanding The Impact Of Sustainable Investing For Ultra-HNW Families with Erika Karp
Erika Karp is the Chief Impact Officer at Pathstone, an independent RIA based out of New Jersey that oversees $35 billion in assets under management for a few hundred ultra-high-net-worth client households. Erika has uniquely incorporated sustainable investing into her firm by utilizing an internal ESG analysis that aligns her clients’ sizeable capital with their own values.
Listen in as she shares what inspired her to start her own firm, as well as how she put up her own capital to launch and reached $25 million in AUM within 90 days to receive SEC approval. You'll learn how she overcame the struggle of wanting to be known as a trusted advisor while also having to get comfortable selling herself and her services, why she believes that it is most important for advisors to focus on work that brings them joy, and more.
For show notes and more visit: https://www.kitces.com/279
Ep 278: Separating Marketing From Sales To More Efficiently Scale Sustainable Growth with Derek Gregoire
Derek Gregoire is a co-owner of SHP Financial, an independent RIA based in Plymouth, Massachusetts that oversees nearly $1.2 billion of total assets for over 1,200 clients. Derek and his firm have centralized the execution of multiple marketing strategies to increase the amount of prospective client leads the firm provides to its advisors, so they in turn can concentrate more on developing client relationships, rather than chasing prospects. Today Derek joins the show to discuss how his firm has built a combination of radio programming, short interview-style television ads, seminars, and digital marketing to bring in prospects.
Listen in as we talk in-depth about the simplified three-meeting sales process his firm developed that aims to avoid overwhelming prospects with choices and how his decision to centralize marketing has ultimately freed up the budget to maintain a larger service staff to ensure a more personal experience for his clients. You will learn the hard lesson Derek and his partners learned after almost reaching burnout and how he got his firm back on track for long-term growth.
For show notes and more visit: https://www.kitces.com/278
Ep 277: Crafting A More Unique Value Proposition By Investing Into A More Focused Clientele with Lauren Oschman
Lauren Oschman is the CEO of Vestia Personal Wealth Advisors, an independent RIA based out of Nashville that oversees $600 million in assets for nearly 500 households. Lauren has epitomized what it means to niche down by not only serving a unique niche of physicians, but also serving niches within their client base and providing hyper-specialized services that allow them to truly differentiate.
Listen in as Lauren shares how her firm has developed niches within their client base to better serve them, including advising on salary contract negotiations, mortgages, and disability insurance for variable incomes. You'll learn how the adversity Lauren faced in her career has shaped how she has built her firm to make a bigger impact, as well as why she believes that learning to communicate and cultivate human connections with clients is just as important as learning how to build a financial plan.
For show notes and more visit: https://www.kitces.com/277
Absolute favorite podcast
Michael has truly changed my life. I’ve listened to nearly every one of these and it’s helped me to design the practice that I want. The format he uses in all his podcasts is phenomenal. Well done 👏🏻
Michael is one of the GOAT’s 🐐 in the industry!!!
This podcast is packed with value.