Financial Advisor Success Ep 156: Establishing Next Generation Career Tracks And Business Development Training For Long-Term Sustainability with DeLynn Zell
Dec 24, 2019
DeLynn Zell, founder and CEO of Bridgeworth Financial who built a hybrid RIA overseeing ~$1.6B, discusses creating a firm that outlasts its founders. She describes four-tier career tracks, partner compensation and equity, and intensive business development training. Conversations cover building niche practices, team-oriented referral crediting, and cultivating next-generation leaders for long-term sustainability.
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Use A Referral Calculator To Allocate Credit
- Split credit for new clients with a referral calculator: keep 15% for intro, 25% for closing help, 60% for servicing.
- Use these buckets to track revenue credits for salary grids while the firm shares profits separately by equity.
Separate Partner Guaranteed Pay From Equity Profits
- Bridgeworth separates guaranteed compensation from equity profits: partners get a revenue-based guaranteed payment grid plus quarterly profit distributions, with year-end equity payouts based on original share contributions.
- This preserves incentives for individual production while rewarding long-term ownership.
Reserve Revenue Pay For Owners Not Employees
- The firm intentionally pays non-owners salary plus incentive comp while reserving revenue-based compensation for owners, reinforcing the distinction between employees and equity holders.
- This encourages employees to focus on best practices while owners bear firm-level financial risk and upside.
