Jason Wenk is the CEO of Altruist, a newer RIA custodian that has quickly grown to serve more than 3,500 advisory firms and has become the fourth-largest independent RIA custodian by firm count. In response to the inefficiencies he encountered with existing RIA custodians while building his own TAMP a decade ago, Jason developed an 'all-in-one' custodian platform for RIAs, which incorporates portfolio management and performance reporting software. Listen in as he shares his journey and his all-in-one solution for RIAs, leveraging his experiences as an engineer, RIA owner, and TAMP owner to offer advisors core investment systems at a lower cost. You'll hear about his early business ventures that led him to launch his own RIA, as well as how a client's question about a fixed index annuity sparked a niche content marketing strategy that attracted hundreds of prospects per month. We also discuss Jason’s belief in the application of the fiduciary standard to vendors serving advisors, his gratitude for the experiences that prepared him for launching Altruist, and his passion for creating better industry standards to make financial advice accessible to all. For show notes and more visit: https://www.kitces.com/350

Olivia Luper, Founder of Lexicon Advisor Marketing, shares her three-step marketing strategy for financial advisors. She discusses the power of social media ads, crafting a 7-email sequence, and authentic storytelling. The podcast also covers topics like using paid social media ads, sales emails, engagement rates, building a marketing system, unique challenges faced by financial advisors, and defining success.

Jeff Jones, owner and founder of Cypress Financial Planning, talks about creating custom financial planning spreadsheets in Excel, the decision not to partner with a FinTech company, valuing his firm with help from FP Transitions, and his aspirations for pro bono financial planning.

Cary Carbonaro is the Senior Vice President and Director of Women and Wealth Services for Advisor Capital Management, an independent RIA with offices around the country that oversees more than $6 billion in assets under management for 1,700 households. Cary distinctively transitioned from selling her practice to United Capital to establishing a leadership role, only to later grapple with the sale of United Capital to Goldman Sachs. This shift presented complexities as she encountered a culture not attuned to her media-centric approach to advisor marketing. Listen in as Cary recounts her decision to launch her own advisory practice during tech crashes and dwindling marketing budgets, as well as her subsequent choice to sell to United Capital. She also discusses the transformative sale of United Capital to Goldman Sachs and its impact on her marketing strategies, her efforts to buy back her practice, and her move to a smaller firm amidst personal challenges. You'll hear about Cary’s early career confidence struggles and how her evolving definition of success now goes beyond practice growth. For show notes and more visit: https://www.kitces.com/347

Jim Ludwick is the founder of MainStreet Financial Planning, an hourly, fee-only financial planning firm, and Procrastination Junction, a coaching program for fee-only financial advisors looking to improve their sales skills. Jim stands out for his three-decade track record in transforming hesitant prospects into loyal fee-only financial planning clients, not through aggressive sales tactics, but by assisting them in their journey from their current situation to their ideal financial position, effectively helping them overcome their own procrastination. Listen in as Jim shares his journey to success in the financial services industry, discussing how he leveraged networks like the Garrett Network and NAPFA to bolster referrals, as well as why he modified his sales funnel to enhance conversion rates and profitability. You'll hear his perspective on the key to building a top-tier fee-only financial advice business, how he structured his firm around the core principle of work-life balance, and what game-changing strategy enabled him to scale his business. For show notes and more visit: https://www.kitces.com/346

Lori Van Dusen, CEO of LVW Advisors, shares her journey of building investment expertise and the challenges of transitioning to independence. She discusses stress testing portfolios, differentiating her RIA with institutions and ultra-high-net-worth investors, and the significance of due diligence when selecting an advisor platform. Lori also reflects on rebuilding her business, managing investment portfolios, and defining success in the advisory industry.

Brad Barrett is the Managing Director and Partner of One Capital Management, an independent RIA based in Westlake Village, California, that oversees $5.3 billion in assets under management for more than 2,000 client households. Brad's unique approach to business development has helped his firm scale and grow organically by creating multiple niche specializations, or business segments, each led by a dedicated advisor team. Listen in as Brad discusses the firm's unique approach to growth through the development of specialized business segments and the strategic acquisition of niche practices. You'll learn about their innovative media strategy, the importance of regular evaluation of business segments, and the lessons learned from a challenging partnership experience. Finally, Brad shares his insights on the benefits of specialization, the importance of setting realistic career expectations, and the pursuit of long-term advisor happiness and financial success. For show notes and more visit: https://www.kitces.com/344

Rita Robbins is the Founder and President of Affiliated Advisors, a Super-OSJ with Royal Alliance that supports 90 financial advisors and collectively manages $3.5 billion in assets under advisement. Rita stands out for her pioneering role in establishing one of the first woman-owned Super-OSJs nearly three decades ago. She has observed the transformation of the super-OSJ model from providing local oversight of brokers selling proprietary products to becoming back-office platforms that offer an increasingly open-architecture product shelf along with compliance, technology, marketing, business management, and other support to independent financial advisors. Listen in as Rita shares her journey through the evolution of broker-dealer platforms, her strategies for growing her platform, and how her firm thrived during the pandemic due to its robust technological support. Drawing from her decade-long experience as a wholesaler, Rita discusses the launch of her own OSJ, the expansion of her platform's leadership, and her deep understanding of the advisor community's needs. She also opens up about early-career pressures, a traumatic embezzlement incident, and her ongoing struggle with focusing on uncontrollable factors while navigating business challenges and cycles. For show notes and more visit: https://www.kitces.com/343

Nancy Hetrick is the Founder and CEO of Smarter Divorce Solutions, a consulting firm based out of Arizona that provides financial expertise to individuals and couples going through the divorce process. Nancy's unique journey from a do-it-yourself divorce to becoming a divorce expert was driven by her personal experience of non-enforceability, leading her to help other women avoid similar situations. She successfully scaled her divorce practice to 8 team members and $1M in annual revenue, while also growing her RIA to $65M AUM by assisting clients with rollovers and investment implementation post-divorce. Listen in as Nancy shares how she overcame imposter syndrome by recognizing the value of her own life experiences, why she chose to expand her technical expertise to earn her CDFA credential and become a Master Analyst in Financial Forensics and a Certified Divorce Coach, and the strategies she used to grow her network in the divorce niche. We also discuss how she effectively communicates the value of her divorce planning work to prospects, how she earns fees on a divorce case, and what led her to sell her RIA and focus on being a solo practitioner in the divorce field. For show notes and more visit: https://www.kitces.com/342

Thor McIlrath is the Owner of McIlrath & Eck, an independent RIA based out of Arlington, Washington, that oversees more than $610-million in assets under management for 970 households. The unique aspect of Thor's business model lies in the way he has organized his firm. Instead of subscribing to the conventional industry practice of fostering deep relationships between clients and a single advisor, Thor has innovated a system where clients interact with a variety of advisors each time they visit, which offers clients a diversity of insights on their situation over time, moving away from reliance on a singular perspective. Listen in as Thor shares his successful transition to a rotating advisor system in his firm, an innovative approach that centralizes client notes and enriches both clients and advisors with diverse insights, earning approval from 80% of his clientele. We also discuss why Thor's hiring philosophy is centered on compassion and empathy, how he ensures a good fit between clients and the firm, and how he uses an adult education class on retirement to give back to the community and drive a steady stream of new clients. For show notes and more visit: https://www.kitces.com/341