Financial Advisor Success

Succession planning is rarely easy, but when life circumstances accelerate the timeline, it requires courage, clarity, and deep trust in your team. This episode explores how to manage an ownership and client transition with empathy, structure, and transparency. KayDee Cole is the founder of Clarity Wealth Development, an RIA based in Corvallis, Oregon, that manages $200 million in AUM for 220 client households. Listen in as KayDee shares how she navigated an expedited succession plan after a cancer recurrence, selling equity to her COO through a seller-financed loan and preparing other team members for ownership. We also talk about the structured four-meeting process she created to transition clients to new advisors, how she coached her team through readiness conversations, and how transparent communication helped retain nearly all clients through the change. For show notes and more visit: https://www.kitces.com/468

A key part of converting a contact or prospect into a client is an advisor's ability to explain what they offer and to show how they're the right person to solve their pain points. This episode explores how leading with empathy, asking the right questions, and storytelling can help financial advisors turn curiosity into client commitment. Derek Kinney is the founder of Success for Advisors, a speaking and coaching firm that helps financial advisors communicate more effectively with prospects and clients. Listen in as Derek shares how he teaches advisors to open conversations with relatable "You know how..." statements that frame a prospect's problem and position the advisor as the solution (without giving away the fix too soon). You'll learn how using a calm, deliberate speaking style can convey authority and trust, why his "million-dollar questions" uncover what clients really want, and how sharing the successes of current clients in similar situations can move prospects naturally toward engagement. For show notes and more visit: https://www.kitces.com/467

Growth rarely comes without sacrifice—and for many advisory firm owners, that means making bold investments that might pinch margins today to create momentum for tomorrow. This episode explores how strategic hiring, branding, and compensation design can help accelerate growth while building a stronger, more scalable team. Morgan Nichols is the CEO of LifeBranch Wealth Partners, an independent broker-dealer practice based in Grapevine, Texas, overseeing $630 million in AUM for 830 households. Listen in as Morgan shares how she doubled her firm's size in just three and a half years in part by investing ahead of the curve, from hiring before capacity hits a breaking point to rebranding her firm to reflect a broader, growth-oriented vision. You'll learn how she designed clear career paths and compensation models that balance stability with opportunity, why she added a dedicated business development director to fuel new growth, and what helped her stay resilient through challenging growth stages.  For show notes and more visit: https://www.kitces.com/466

In an environment where there is no shortage of external acquirors, many RIA founders receive regular inbound inquiries from potential suitors. While the compensation from such deals (and the ability to shrink the administrative burdens they face) might be tempting, these offers can be weighed against a desire to grow independently and perhaps pass it on to the next generation. Todd Pisarczyk is the founder of Momentous Wealth Management, an RIA based in Vancouver, Washington that manages $400 million in AUM for 400 client households. Listen in as Todd shares how he hit a turning point after reaching 350 clients and feeling trapped by success, then built a detailed spreadsheet (included in the show notes) to analyze whether to sell or keep his firm. We talk about how the numbers (and lifestyle considerations) ultimately led him to stay independent, the changes he made to scale sustainably, and how his definition of success has evolved from "more growth" to creating a legacy where others can thrive. For show notes and more visit: https://www.kitces.com/465

Attracting and retaining top talent is one of the greatest challenges for growing advisory firms. As teams expand, success depends not just on recruiting, but on creating a culture where people feel valued, supported, and empowered to grow. This episode explores how intentional talent development and leadership coaching can help firms build thriving, future-ready teams. Katie Calagui is the owner of Katie Calagui Consulting, a coaching and consulting firm that partners with financial planning leaders to strengthen their people systems and firm culture. Listen in as Katie shares how firms can move beyond traditional HR to invest in true people development, building training, mentorship, and advancement pathways that reduce turnover and develop next-generation advisors. You'll learn the key metrics that reveal whether your talent strategy is working, common leadership blind spots, and why the best coaches don't give advice—they draw out the wisdom firm leaders already have. For show notes and more visit: https://www.kitces.com/464