Financial Advisor Success

Neel Shah is the Founder of Shah Total Planning, which is a combination of an independent RIA and a law firm based out of New Jersey that oversees $57 million in assets under management for 50 households. Neel himself is an estate planning attorney turned financial advisor who offers a one-stop shop for advice while outsourcing his investments, leveraging his background as an attorney to generate referrals from centers of influence to help scale his growth. Listen in as Neel shares how he transitioned from attorney to financial advisor, as well as why he went down the path of financial advice to develop deeper relationships with his clients. You'll hear why he views himself not as a career-changer, but as a career-adder, and how he has learned to get comfortable with the realities of building and scaling a business by aiming to make each year better than the last. For show notes and more visit: https://www.kitces.com/294

Anna N'Jie-Konte is the founder of Dare to Dream Financial Planning, an independent RIA based out of the New York City that has grown to more than $400,000 in annual revenue in only 3 years by having a base of 32 ongoing clients and more than a dozen project-based planning clients who go through her one-day financial planning intensive. Anna has been able to accelerate her firm's growth by leveraging her reach through appearing on podcasts with sizeable audiences and by developing her own virtual conference that allows her to get in front of the audiences of financial influencers. Listen in as Anna shares how she used a network of 19 financial influencers to get in front of more than 1,000 highly engaged prospects during her free 5-day virtual conference, and how she vets podcasts to appear on and targets those that have not directly featured financial experts previously. We also discuss why she decided to leave her position at a broker-dealer to launch her own firm and find better work/life balance, what she believes the keys are to creating a successful career path as a financial advisor, and why it's important to know when to ask for help to avoid serious burnout. For show notes and more visit: https://www.kitces.com/293

Matthew Topley is the Founder and CIO of Lansing Street Advisors, an independent RIA based out of Pennsylvania that oversees $160 million in assets under management for 60 client households. Matthew has been able to differentiate his firm by offering high-net-worth clients the opportunity to diversify their investment portfolio by syndicating private real estate partnerships that directly purchase individual multi-unit rental properties. In this episode, Matthew shares the realization he had that led him to diversify his own investments, as well as how he was introduced to truly passive income. Listen in to learn why he built his firm around financial planning advice (even though his background is in portfolio management), why he outsources much of his back-office services to focus specifically on conversations around financial planning advice and real estate investing opportunities, and how he uses tools and systems to execute on syndication deals on an ongoing basis throughout the year. For show notes and more visit: https://www.kitces.com/292

Amy Irvine is the owner of Rooted Planning Group, an independent RIA based out of New York that oversees $67 million in assets under management for 175 households. Impressively, Amy has successfully managed the complexities of starting her own RIA focused on Gen X women despite seeing a very rapid expansion from 30 clients to over 100 clients in under 18 months. Listen in as she shares what made her realize that there was an untapped opportunity to provide financial planning services to career-driven Gen X women, as well as how she gained a generous amount of referrals. We also discuss how Amy managed the rapid growth of her firm, including why she chose to stop taking on any new clients for 3 months and instead hired a coach to prioritize the mental health of her staff over the economic growth of her firm. For show notes and more visit: https://www.kitces.com/291

Andrew Komarow is the Founder of Tenpath Financial Group and Planning Across the Spectrum, a hybrid firm based out of Connecticut that oversees $100-million in assets under management for 100 households. Andrew identifies as a financial advisor with autism and has built a firm with a specialized niche of neurodivergent clients, helping them navigate their unique and sometimes complex financial planning challenges. Listen in as Andrew shares how being diagnosed with autism as an adult gave him the realization that he was uniquely positioned to serve other neurodivergent clients through his firm, why he credits his autism with helping him earn more than 16 financial planning designations despite never graduating high school, and how he created an impact investing index with 79 companies that embrace neurodiversity and inclusion. We also discuss how educational tools on his website and Facebook groups for the special needs community have helped Andrew grow his client base, and why he believes that hiring his first team member before he had the revenue to afford it was the best business decision he ever made. For show notes and more visit: https://www.kitces.com/290

Kamila Elliott is the CEO and Founder of Collective Wealth Partners, an independent RIA based out of Atlanta that oversees nearly $25-million in assets under management for 175 client households. Kamila and her partners built a firm comprised entirely of Black CFP professionals that are dedicated to supporting the creation of wealth for BIPOC and underserved communities through a model that charges them for advice only, even if they don't yet have assets. Listen in as Kamila shares why she intentionally shifted her career focus to build an independent practice, how working with ultra-high-net-worth clients in her previous role gave her the skills and insight to help her firm's clients grow and retain wealth, and how she explains the value of a financial advisor to clients who have never had an advisor before. We also discuss how Collective Wealth Partners is structured, including why they chose to serve clients collectively with a team approach, and why they chose to create a firm with equal partnership in every aspect. For show notes and more visit: https://www.kitces.com/289

Patrick Kilbane is a Partner and Director of the Divorce Advisory Group for Ullmann Wealth Partners, an independent RIA based in Jacksonville Beach, Florida that oversees $800 million in assets under management for 350 client households. After stepping away from a successful career as a family law attorney, Patrick transitioned into becoming a financial advisor who specializes in divorce with a unique value-add of being able to work collaboratively with his former legal colleagues. In this episode, we talk in-depth about this transition, including how he leverages the professionalism, trust, and connections he built as a lawyer. Listen in as Patrick shares how he utilizes his knowledge of the law to offer specialized assistance to divorcing clients so they can better prepare for meetings with their lawyers during divorce proceedings. You will learn when he realized his interest in personal finance, the ways passive income can impact one's life, and more. For show notes and more visit: https://www.kitces.com/288

Jennifer Murray, the founder of Stonebridge Financial Advisors, shares her inspiring journey of transforming personal loss into a dedicated practice for widows. She discusses how she built her client base through referrals and community engagement, emphasizing empathy and personalized service. Jennifer also explores the financial challenges faced by recently widowed women and highlights the importance of trust and support in client relationships. Her approach combines professional expertise with a heart-centered focus on fulfilling client needs while maintaining a balanced business practice.

Matt Cosgriff is the Director of Wealth Management for BerganKDV, an independent RIA based out of Minnesota that oversees more than $2 billion in assets for 1,000 households. Matt has a unique career path, having leveraged the launch of a specialized division within BerganKDV and creating a path toward leadership of the entire RIA. Listen in as we talk about how he got the opportunity to operate as an intrapreneur within the firm and developed a separate brand that catered to next-generation clients, as well as how his role as an intrapreneur also led to him having to 'side hustle' in a new retirement plan practice to justify his salary. You'll learn how he shifted from a career focus to a leadership path, the challenges he faced when he became the Director of Wealth Management at the age of 29, and the keys to a successful career in the financial planning industry. For show notes and more visit: https://www.kitces.com/286

Ryan Townsley is the founder of Town Capital, an independent RIA based in Bel Air, Maryland, that oversees nearly $50 million in AUM for 65 client households. After spending the first 15 years of his career as a nuclear power plant supervisor, Ryan then transitioned to become a financial advisor that quickly grew to nearly $50M of AUM in under 4 years by developing a high-touch service back to those in the nuclear power industry. In this episode, he shares what inspired him to build the only financial planning firm in the country dedicated to nuclear power professionals and how he ultimately grew his client base to the successful size it is now. Listen in as Ryan explains his tireless work to develop his financial planning process that reflects nuclear power plant procedures and engineering workflows, as well as why he chooses to meet with potential clients over a several-month period before onboarding. You will learn how joining a large financial services firm helped him quickly understand that he enjoyed financial planning more than the sales and investments sides of the industry, why he was surprised at how few referrals he received when first launching his firm, and what motivated him to keep pushing forward until the new client momentum began to build. For show notes and more visit: https://www.kitces.com/285