The COO Roundtable EP 49 - Edgar Collado of Tobias Financial Advisors & Alex Satterfield of Byron Financial
Feb 1, 2023
Edgar Collado, COO at Tobias Financial Advisors, and Alex Satterfield of Byron Financial join the discussion, sharing their unique paths to operations roles. They dive into the evolving role of COOs and the significance of team involvement in strategic planning. The duo challenges the 'Myth of Outsourcing,' emphasizing in-house capabilities and the vital role of HR in organizational success. Listeners gain insights on enhancing client experience and the importance of inclusive strategic thinking to foster growth.
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From Insurance To Advisory Pivot
- Byron Financial started with a life insurance focus and added an RIA in 2005 before pivoting fully to advisory in 2019.
- Alex recounted growth from about $175M AUM in 2019 to nearly $700M today with a small team.
Firm Began As A CPA Practice
- Tobias Financial Advisors began as a CPA tax firm and converted fully into financial planning over time.
- Edgar described the firm’s growth from ~200M AUM to nearly 700M and expansion from ~5 to 19 employees.
COO Enables Growth By Freeing Owners
- A competent COO frees owners to focus on business development and client work.
- Edgar said his operations work enabled owners to step away from daily management and drive growth.
