The COO Roundtable

The COO Roundtable Episode 45 By PFI Advisors Our latest episode of The COO Roundtable features two leaders of relatively young and evolving RIAs. We are joined by Michael Wagner, Co-Founder and Chief Operating Officer of Omnia Family Wealth and Ben Gurley, Director of Heartwood Wealth Advisors.  Omnia Family Wealth was launched in 2015 and started with a team of 5 members. Currently headquartered in Aventura, Florida, they are now a team of 11 people and advise on $2.2B in assets.  Heartwood Wealth Advisors joined the RIA space in 2019. They are headquartered in Richmond, VA, have 11 employees, and $1B in AUM.  Together, Matt, Michael, and Ben (who both service clients in an advisory capacity in addition to operations) tackle the question, “Does make you better at operations or vice versa?” and much more including: Each guests’ career path, including Ben’s background as a middle school teacher and Michael’s experience joining the family business How each guest manages both the operations portion of their role as well as the additional responsibility of firm ownership How each firm is evolving to meet the needs of their clients Each guest discusses how operations has helped their firm grow organically How each guest approaches talent management, a hot topic at many RIAs today! We hope you enjoy, share, and subscribe! You can listen and subscribe on Google Podcasts, Apple Podcasts, or Spotify. Sign up here to be notified of new practice management content added to our blog on a regular basis.  

 In the “Reggie Jackson episode” of The COO Roundtable, Matt welcomes two thoughtful leaders of their organizations, Principal and Chief Compliance Officer of SYM Financial Advisors, Crystal Creekmore, and returning guest Gary Bonner, COO of Southwestern Investment Group.  SYM Financial Advisors is headquartered in Winona Lake Indiana and has 5 offices across Indiana and Michigan. Founded in 1968, they are currently in their 3rd generation of ownership. They manage $3.7B in AUM and have 68 employees.  Founded 20 years ago, Southwestern Investment Group is headquartered Franklin, Tennessee. They currently have 11 offices across 5 states and manage $5.5B in AUM with 176 employees.  Together, Matt, Crystal and Gary discuss how solid operations can better communication both within the firm and with clients directly, and much more including: Professional background of each guest, including how Crystal's kindergarten teacher served as a job reference when she applied at SYM Financial Advisors Each guest’s view on the dual-hatted role of COO/CCO Guests discuss whether it is best to centralize or silo operations How each firm tracks the status of projects and tasks How RIAs can leverage portal technology to communicate with clients Each guest shares how they have used the EOS framework within their firm We hope you enjoy, share, and subscribe! You can listen and subscribe on Google Podcasts, Apple Podcasts, or Spotify. Sign up here to be notified of new practice management content added to our blog on a regular basis.

In our latest episode of The COO Roundtable, Matt welcomes two impressive guests: Amanda Barrale, Chief Platform Officer of Moneta and Eric Sontag, President and Chief Operating Officer of Wealthspire.  Moneta is headquartered in St Louis and has offices in Kansas City, Denver, and Boston and currently manages $32.8B in AUM with 440 employees. Wealthspire is headquartered in New York City and has 19 offices around the country.  Founded in 1995, they manage $19B in AUM and have 270 employees. Together, Matt, Amanda, and Eric have a great discussion about building RIA Operations at scale and much more, including: The crucial role Operations plays in M&A The balancing act of offering customization to clients in a scalable fashion The conundrum of centralizing operational tasks vs. allowing advisory teams to work independently How each firm uses data intelligence and transparency to communicate to the broader firm, especially in a hybrid work environment Career paths for Operations team members We hope you enjoy, share, and subscribe! You can listen and subscribe on Google Podcasts, Apple Podcasts, or Spotify. Sign up here to be notified of new practice management content added to our blog on a regular basis.

In our latest episode, Matt welcomes two incredible guests: Kristie Clayton, Integrator at iMatter and the Visionary Forum, and Melissa Bushman, VP of Operations at AltruVista.  Kristie’s experience in banking and credit unions led her to wealth management where she found her true passion – leading teams and developing people to their full potential.  Melissa brings a history of project management consulting, sports and entertainment, and non-profits to her current role at AltruVista.  In this episode, Matt, Kristie, and Melissa discuss their role as an “integrator” and the impact it has on their firms. Other topics of discussion include:     How each guest was introduced to the EOS system and how they have implemented it in their roles Kristie’s creation of FIM (Female Integrator Mastermind) developing from a desire to foster a community of likeminded individuals The difference between “Chief Operations Officer” and “Chief Operating Officer” How each guest gets everything done in their busy schedules Training and career paths for operations roles We hope you enjoy, share, and subscribe! You can listen and subscribe on Google Podcasts, Apple Podcasts, or Spotify. Sign up here to be notified of new practice management content added to our blog on a regular basis.

For the 41st episode of The COO Roundtable, Matt welcomes three special guests from Vestia Personal Wealth Advisors – CEO and Co-founder, Lauren Oschman, Co-founder and board member, Tommy Martin, and Partner and Chief Operating Officer, Brad Quick. Vestia has offices in Fort Wayne, IN, Indianapolis, IN, Los Angeles, CA, and Omaha, NE. They currently manage $500M and specialize in serving physicians. Together, Matt, Lauren, Tommy, and Brad have an insightful discussion about how focusing on their niche has helped Vestia become more efficient, knowledgeable, and consistent in providing stellar service to their clients’ unique needs.  Other topics of conversation include:   Each guests’ career paths and the skills they bring to Vestia’s leadership team How Vestia uses the EOS framework in their firm Their approach to succession planning The specific metrics Vestia uses to gauge the health of the organization (their answers are amazing, and we suggest you have a notepad handy!) How they use a physician’s heart transplant model as a roadmap for their employee development We hope you enjoy, share, and subscribe! You can listen and subscribe on Google Podcasts, Apple Podcasts, or Spotify. Sign up here to be notified of new practice management content added to our blog on a regular basis.

In the 40th episode of The COO Roundtable, Matt welcomes two extremely thoughtful and strategic guests, Yonhee Gordon, Principal, Chief Operating Officer, and Chief Marketing Officer of JMG Financial Group, and Christine DeMao, Chief Operating Officer and Managing Partner of Gibson Capital.  JMG Financial Group is headquartered in Downers Grove, IL just outside of Chicago. They recently celebrated 38 years in business, have 86 employees, and currently manage $4.7B in AUM.  Celebrating 33 years in business, Gibson Capital is headquartered in Wexford, PA, currently manages $2.3B, and has 15 employees.  Together, Matt, Yonhee, and Christine have a comprehensive discussion on the many ways a COO impacts the firm, including culture, creating a consistent and outstanding client experience, and much more, as they cover:   Their firms’ respective backgrounds, including ideal clients, service offerings, and growth trajectories Their professional backgrounds, including Yonhee’s lengthy tenure at JMG and the experience Christine brings with her 15 years at Gibson Capital   How to promote RIA ownership within the firm for not just those on the advisor track, but for those in operations roles as well Which Key Performance Indicators each guest keeps their eye on Steps each firm is taking to balance in-person vs. remote work to ensure everyone is on the same page We hope you enjoy, share, and subscribe! Read the full transcript here. You can listen and subscribe on Google Podcasts, Apple Podcasts, or Spotify. Sign up here to be notified of new practice management content added to our blog on a regular basis.

This month’s episode features two incredible guests: Rob Ziliak, Chief Operating Officer at Buckingham Wealth Partners and Ryan Armock, Head of Operations at Thrivent Advisor Network.  Founded in 2019, Thrivent currently has 450 employees, and manages $6.5B in AUM.  Buckingham Wealth Partners, a well-known RIA founded in 1994, currently manages $65B in collective assets between Buckingham Strategic Wealth and Buckingham Strategic Partners and has 540 employees.  Together, Matt, Rob, and Ryan discuss the effect their respective roles play in creating and ensuring a great client experience and much more, including: An overview of each firm and their respective strategies for growth How each firm has adapted their business throughout the pandemic and the long-term effects of these changes What our guests are doing to attract the best talent in the current job market How our guests’ roles in operations impact their firm’s M&A strategy  We hope you enjoy, share, and subscribe! You can listen and subscribe on Google Podcasts, Apple Podcasts, or Spotify. Sign up here to be notified of new practice management content added to our blog on a regular basis.   Investment advisory services offered through Thrivent Advisor Network, LLC., (herein referred to as “Thrivent”), a registered investment adviser. Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Thrivent Advisor Network reported over $5.3 billion in AUM in its latest annual Form ADV filing. Thrivent Financial for Lutherans is ranked 369 on the Fortune 500. (Fortune Magazine, June 2021). Correction: When Ryan Armock states, "…and that brings us to where we are at today with about six and a half billion in assets under management, about 450 employees and about 300 IARs.” the correct number is 200 IARs.

For our latest episode, Matt welcomes two fantastic guests: Jennifer Wagoner Kirksey, Managing Director of Wealth Operations at Tolleson Wealth Management, and Trevor Phillippi, Chief Operating Officer of 6 Meridian. Originally founded as a single family office, Tolleson Wealth Management currently has $10B in assets under oversight and is headquartered in Dallas, Texas.  6 Meridian, founded in 2016, is located in Wichita, Kansas and currently manages $1.8B in AUM.  Matt, Jennifer, and Trevor discuss how their role is critical to “running the business,” what excites them about the future, and much more, including: An overview of each firm, and how they have both grown organically Each guests’ professional background, specifically looking at Trevor’s long tenure at Meridian and Jennifer’s path from entry level to Managing Director The role of the performance reporting analyst and the importance of reliable, high-quality data The services each firm offers their clients beyond traditional investment management The challenges each firm contends with in acquiring talent in today’s market We hope you enjoy, share, and subscribe! To read our article, “Adding to Your Team? Consider a Performance Reporting Analyst” published in Wealth Management.com, click here. You can listen and subscribe on Google Podcasts, Apple Podcasts, or Spotify. Sign up here to be notified of new practice management content added to our blog on a regular basis.The views and opinions expressed here today do not necessarily reflect the view of Tolleson Wealth Management.  The information discussed is for informational purposes only and is not a solicitation or an offer to buy a security or instrument or participate in any other service offered by the firm.

For our first episode of the new year, Matt welcomes two highly accomplished guests: Jason Mirabella, Chief Platform Officer of Wealthsource Partners, and Tom Preston, Director of Client Service of Brighton Jones.  Founded in 2009, Wealthsource Partners is headquartered in San Luis Obispo, California, has 35 employees and manages $1.8B in AUM.  Brighton Jones was founded in 2000 and currently has 225 employees.  They are headquartered in Seattle, Washington and manage $8.5B in AUM.   Matt, Jason, and Tom discuss how operations plays a key role in firm growth, client experience, and much more, including:    An overview of each firm, including how each guests’ role fits into their overall firm structure Our guests tackle the “Sales vs. Operations” divide in the industry KPIs each guests calculate to gauge the health of their organization How to create actionable steps from those KPIs and implement them in a firm Where both guests see the industry trending in the next 18 months We hope you enjoy, share, and subscribe! You can listen and subscribe on Google Podcasts, Apple Podcasts, or Spotify. Sign up here to be notified of new practice management content added to our blog on a regular basis.

For our special three-year anniversary episode, we put a twist to our regular format and Matt was joined by Karl Heckenberg, CEO and President of Emigrant Partners for a compelling conversation on the RIA industry.  Known for their strategic partnership with RIAs, Emigrant Partners is currently invested in 19 firms and has close to $90B in cumulative assets.  Matt and Karl talk about industry trends including the investment outlook for RIAs, the role of the COO moving forward, RIAs now being run as true business, and much more, including:   The history behind Emigrant Partners  After a bit of teasing by Matt, Karl shares an in-depth version of his professional background Karl shares the signs he looks for to determine if an RIA needs operations help What role the COO plays in an RIA’s M&A pitch to other firms The “gating issue” Karl sees when it comes to onboarding clients of different generations and how operations can enhance that client experience We hope you enjoy, share, and subscribe! Click here to read our article “Why Professional Management Fails for RIAs”. You can listen and subscribe on Google Podcasts, Apple Podcasts, or Spotify. Sign up here to be notified of new practice management content added to our blog on a regular basis.