Financial Advisor Success Ep 462: Making The Tough Decision To Change Firms To Find The Path To Equity Ownership You're Seeking with Maggie Rapplean
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Nov 4, 2025 Maggie Rapplean, a Partner at Moneta Group with $250 million in AUM, shares her transformative journey from a wirehouse to finding equity ownership in an RIA. She discusses the courage needed to change firms, the importance of having a clear path to partnership, and how redoing financial plans enhanced client retention. Maggie explains her successful acquisition of a retiring advisor's book and the warm handoff process that built trust. She also reflects on work-life balance, the freedom ownership brings, and strategic growth plans for her advisory team.
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Ownership Enables Career Control
- Ownership lets you design firm culture, client service, and an exit strategy over a long career.
- Maggie pursued equity to retain autonomy and control how her practice is passed on or monetized.
Startup RIA Lacked Resources
- Maggie left a wirehouse team that spun out as a startup RIA and found the startup lacked resources and a clear path to ownership.
- That mismatch pushed her to search for a firm with a defined path to partnership.
Don't Sell Your Future For Salary
- If you want equity, research firms that explicitly offer a defined path to partnership rather than just a salary.
- Avoid selling your future for comfort via long indefinite non-solicits and fixed salaries.