Barron's Advisor

Kevin Casey, Managing Director at Pathstone, dives into the intricate world of mergers and acquisitions, detailing his firm’s strategy for both inorganic and organic growth. He dispels common myths around business valuations and emphasizes the role of internal capabilities in achieving success. Casey discusses how to integrate diverse services to meet complex client needs and offers insights on career advancement within the advisory industry, highlighting the importance of mentorship and industry trends shaping the future.

David DeVoe, Founder and CEO of DeVoe & Company, shares his expert insights on maximizing valuations for RIA firms. He discusses the booming M&A activity and how private equity is shaping the industry. DeVoe highlights the importance of emotional and strategic factors when considering a sale, alongside effective marketing strategies that show the true value of financial advisors. He explains key valuation factors like growth and profitability, and emphasizes the necessity of clear career paths for employee engagement and retention.

Raj Bhatia, a seasoned Private Wealth Advisor at Merrill, shares his insights on hiring family in the wealth management sector. He discusses his experience of bringing his daughter into the firm, emphasizing the importance of succession planning and client relationships. Raj delves into the complexities and benefits of employing family members, balancing professional boundaries with familial familiarity. He narrates personal anecdotes, reflecting on how open conversations can ease transitions and foster successful dynamics in family-operated businesses.

Kaden Bernstein, a financial advisor at Morgan Stanley with over $1.5 billion in assets under management, shares his unique journey into finance. He emphasizes the importance of knowing your limits and avoiding burnout, all while fostering connections with supportive peers. Bernstein discusses the emotional challenges new advisors face, particularly during market volatility, and the essential role of clear communication in client relations. His insights offer valuable guidance for those transitioning into the financial sector.

In this engaging discussion, Peter Wilken, a global brand strategist and author, shares his expertise in branding, backed by his work with giants like Coca-Cola and Disney. He dives into the biggest branding mistakes financial advisors make and emphasizes the importance of emotional connections in client relationships. Wilken also offers strategies for smaller firms to carve out their identities, discussing the power of clear communication and impactful messaging. He highlights how bold branding can significantly enhance market positioning, especially in the competitive finance landscape.

Joe McLean, Managing Partner at MAI Capital Management and former professional basketball player, shares his unique journey from the court to finance. He discusses how his athletic background helps him guide clients, particularly athletes, through financial challenges. McLean emphasizes the need for effective money management, especially in light of the short careers in sports. He touches on the importance of mentorship, the impact of NIL deals, and the critical role of financial literacy in navigating wealth.

Dane Burkholder, managing partner at Roseville Wealth Management, shares invaluable insights from his experience overseeing a team managing over $2 billion in assets. He highlights three crucial skills for advisors: effective communication, relationship building, and urgent execution. Burkholder also delves into the emerging market of collegiate athletes and the importance of financial education related to their name, image, and likeness rights. He emphasizes the need for innovative training programs for new advisors, combining hands-on experience with compassionate client support.

Samantha Russell, Chief Evangelist at FMG Suite, revolutionizes financial advisor marketing with her expert insights. She delves into the crucial shift towards Answer Engine Optimization, inviting advisors to rethink content for AI tools. The discussion spotlights the importance of a strong website and diverse marketing channels for lead generation. Russell emphasizes personal storytelling and client engagement strategies while addressing the evolution of referral marketing, particularly targeting women as key decision-makers in wealth management.

Michael Schaffer, Sr., the President of Schaffer Private Wealth Group of Wells Fargo, shares insights on maintaining investment stability during unpredictable markets. He emphasizes the necessity of a solid investment plan, particularly through methodical goal-setting. The discussion delves into emotional resilience in investing, advocating for disciplined, data-driven strategies. Schaffer also highlights the importance of focusing on business fundamentals over market noise and cultivating a steady investment temperament to thrive in volatility.

“Having next-gen advisors and listening to their perspectives and understanding how they would approach members of their generation is a key place to start,” says the president of Wealthspire Advisors. Learn more about your ad choices. Visit megaphone.fm/adchoices