Do Business. Do Life. — The Financial Advisor Podcast — DBDL

036: Triad Member – Streamlining Ops, Protecting Your Culture, and Scaling to $1B AUM with Michelle Short

Nov 1, 2023

01:36:33

Today, I’m sitting down with Michelle Short, the COO of SHP Financial — a Triad member firm that manages more than $1B in assets.

In the years leading up to Michelle’s hiring in 2014, SHP was generating about $10M in annual new assets. Fast forward to 2022 and SHP was bringing in more than $250M in new assets, with roughly 32% of those assets coming via referrals. As the operations architect, Michelle has plenty of insights into how SHP scaled — and advice for those who want to do the same.

In this episode, you’ll hear how SHP streamlined its operations to allow for such rapid growth while easing advisor workloads. You’ll also learn about how to save team members from their personal “Drudge Zones,” how to evaluate both team members and clients for culture fit, and how to build referrals within your own practice.

3 of the biggest insights from Michelle Short …

How identifying the roles and responsibilities each team member is best suited to handle can help you build your internal operations and scale your revenue.

How to construct a client experience like SHP’s that has led to more than 33% of its new business being generated from referrals.

Advice for hiring and retaining talent that creates an internal culture you’re excited to do both business and life with.

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DISCLOSURE

These conversations are intended to provide financial advisors with ideas, strategies, concepts and tools that could be incorporated into the advisory practice, advisors are responsible for ensuring implementation of anything discussed is in accordance with any and all regulatory and compliance responsibilities and obligations.

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