Financial Advisor Success Ep 126: Climbing The Path Of Personal Development To Partnership At A Large RIA with Martine Lellis
May 28, 2019
Martine Lellis, Principal and COO at Sullivan, Bruyette, Spiros & Blaney, shares her remarkable journey from associate advisor to leading her firm in a management buyout. She discusses navigating the complexities of selling and buying back the firm, the integration of tax services with wealth management, and the unique needs of affluent clients. Martine reveals insights into firm governance, leadership challenges, and her commitment to mentoring the next generation of advisors, all while emphasizing the importance of staying independent in a competitive landscape.
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From New Associate To Buyout Participant
- Martine joined Sullivan, Briette, Spiros & Blaney as an associate in 2002 and watched the firm get sold to a bank shortly after she started.
- Over years she moved into operations, became COO, and helped lead a management buyout to return the firm to private ownership in 2016.
Targeting $3M–$20M Clients
- The firm targets affluent clients with $3–$20M who need integrated tax, planning, and investment services.
- In-house tax expertise and over 25 CFPs let them serve complex estate and family-office-like needs.
Price Projects Separately From AUM
- Charge separately for formal tax compliance and substantial one-off planning projects while bundling routine planning into AUM when appropriate.
- Use project-based fees for large estate or liquidity events and give relationship managers discretion on scope-based pricing.