Behind The Advisor
Ep #396: Leading a Growing Advisory Firm with Nathan Donohue
Sep 18, 2024
Nathan Donohue, co-founder and partner at Consilio Wealth Advisors, shares insights on his transition from a broker-dealer to a successful RIA. He discusses the importance of transparent communication with clients in tech sectors like Amazon and Microsoft. The conversation explores financial planning that prioritizes life fulfillment over mere metrics and the emotional aspects of money management. Nathan also addresses navigating challenges in the tech industry, effective client engagement strategies, and the significance of professional development and networking in scaling an advisory firm.
50:53
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Quick takeaways
- Nathan Donohue emphasizes the importance of transitioning from a broker-dealer to an RIA to enhance client service and independence.
- Concilio Wealth Advisors focuses on a two-phase service model to build strong client relationships and effectively address financial needs.
Deep dives
Transitioning to Independence
Nathan Donahue discusses his journey of transitioning from a broker dealer to co-founding Concilio Wealth Advisors. After nearly 16 years in the industry, he faced restrictions that limited his independence, such as confined marketing strategies and restricted investment options. Realizing that his vision for client service required more freedom, Nathan and his team conducted extensive due diligence before launching their registered investment advisor (RIA) in 2021. This transition allowed them to offer better financial planning tools and savings for their clients, as well as the flexibility to represent their own unique client-focused values.
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