Ep 433: When You 10X Your Advisory Firm To Over $20M Of Revenue… And Want To 10X Again with Cameron Passmore

Financial Advisor Success

#Finance #Business Disciplines #Business News #Michael Kitces #Business #News #Entrepreneur #Financial Advisors

35:56

In this premiere episode of "The God Hook," host Carol Costello introduces the chilling story of Richard Beasley, infamously known as the Ohio Craigslist Killer. In previously unreleased jailhouse recordings, Beasley portrays himself as a devout Christian, concealing his manipulative and predatory behavior. As the story unfolds, it becomes clear that Beasley's deceitfulness extends beyond the victims he buried in shallow graves. Listen to the preview of a bonus conversation between Carol and Emily available after the episode. Additional info at carolcostellopresents.com . Do you have questions about this series? Submit them for future Q&A episodes . Subscribe to our YouTube channel to see additional videos, photos, and conversations. For early and ad-free episodes and exclusive bonus content, subscribe to the podcast via Supporting Cast or Apple Podcasts. EPISODE CREDITS Host - Carol Costello Co-Host - Emily Pelphrey Producer - Chris Aiola Sound Design & Mixing - Lochlainn Harte Mixing Supervisor - Sean Rule-Hoffman Production Director - Brigid Coyne Executive Producer - Gerardo Orlando Original Music - Timothy Law Snyder SPECIAL THANKS Kevin Huffman Zoe Louisa Lewis GUESTS Doug Oplinger - Former Managing Editor of the Akron Beacon Journal Volkan Topalli - Professor of Criminal Justice and Criminology Amir Hussain - Professor of Theological Studies Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://evergreenpodcasts.supportingcast.fm…

28 days ago 1:30:01

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Listen in as Cameron shares how his firm achieved explosive growth by serving early Shopify employees, building a content engine that has served as a key driver of inbound leads, and differentiating through a planning-first, passive investing approach that is not typical in the Canadian advice landscape. Cameron also discusses his firm's investment in an institutional-grade data lake to enhance the client experience, how their planning teams operate efficiently at scale, and why always being open to new connections has led to some of his biggest business opportunities.

For show notes and more visit: https://www.kitces.com/433

439 episodes

Ep 433: When You 10X Your Advisory Firm To Over $20M Of Revenue… And Want To 10X Again with Cameron Passmore

Financial Advisor Success

227 subscribers

published 28 days ago

MP3•Episode home

For show notes and more visit: https://www.kitces.com/433

439 episodes

#Finance #Business Disciplines #Business News #Michael Kitces #Business #News #Entrepreneur #Financial Advisors

All episodes

Financial Advisor Success

1
Ep 436: Hiring A Branding Firm To Figure Out The Best Way To Connect With Your Ideal Clients with Nicole Gopoian Wirick 1:29:59

7 days ago1:29:59

1:29:59

Nicole Gopoian Wirick is the President of Prosperity Wealth Strategies, an RIA based out of Michigan that oversees $70 million in assets under management for 40 households. What’s unique about Nicole is how she hired a branding consultant early on to develop a clear brand identity that reflects her financial planning philosophy and resonates with her ideal clients. This brand now acts as a filter for deciding which marketing opportunities are worth pursuing, helping her stay focused and aligned. Listen in as Nicole shares how she developed a distinct brand identity by first exploring her ideal lifestyle and values, leading to a “brand DNA” that shapes everything from her marketing to her client experience. She explains how this branding attracts clients seeking deep financial planning around estate and legacy issues, and how she built trust and referrals by nurturing relationships with centers of influence and delivering personalized, planning-led advice. Nicole also reflects on evolving her brand as she grows her team, presenting recommendations through client-friendly summaries, and staying motivated during her transition to independence by focusing on meaningful progress over metrics. For show notes and more visit: https://www.kitces.com/436…

Financial Advisor Success

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Ep 435: When The Next-Gen “Wealth Builder” Offering Becomes The Main Driver Of Growth For A $1B+ Advisory Firm with Gideon Drucker 1:30:00

14 days ago1:30:00

1:30:00

Gideon Drucker is the CEO of Drucker Wealth, a hybrid advisory firm based out of New York City that oversees approximately $1 billion in assets under management for 800 client households. What’s unique about Gideon is how he launched a “Wealth Builder” service model to support high-income next-gen clients—within a firm traditionally focused on retirees. In just five years, the offering has added 275 client households and become the primary engine of growth for Drucker Wealth. Listen in as Gideon shares how he structured his firm’s Wealth Builder division with a high advisor-to-operations staff ratio to meet the complex needs of mid-career professionals, ensured profitability by setting a minimum fee while introducing gradual fee increases for existing clients by clearly tying them to the firm’s growing value. He also discusses how his clients regularly make referrals without directly being asked to, his transition from direct client service to firm leadership and management, and how his early cold-calling days pushed him toward a content-based marketing strategy that consistently brings in qualified prospects. For show notes and more visit: https://www.kitces.com/435…

Financial Advisor Success

1
Ep 434: Attracting HNW Clients By Focusing Not On Estate But Legacy Planning Instead with Vanessa N. Martinez 1:29:59

21 days ago1:29:59

1:29:59

Vanessa N. Martinez is the CEO of Expressive Wealth, an RIA based out of Chicago that oversees $135 million in assets under management for approximately 70 client households, including 10 ‘core’ ultra-high-net-worth families. What’s unique about Vanessa is how her firm goes beyond traditional estate planning to help high-net-worth clients engage in in-depth legacy planning. This approach ensures clients pass down not just their assets, but also the values and principles that helped them build their wealth. Listen in as Vanessa shares how she guides clients through a multi-meeting discovery process to clarify their estate and legacy plans and articulate the family values they want to pass on, encouraging them to document these legacies to avoid future misunderstandings. She also explains how her deep involvement in clients’ lives, along with neighborhood-based client events, helps foster strong relationships and organic referrals. Vanessa also discusses the unique role of her firm’s Chief Clinical Officer in facilitating family legacy conversations and how legacy planning allows clients to pass down not just wealth, but the emotional and intellectual values that shaped it. For show notes and more visit: https://www.kitces.com/434…

Financial Advisor Success

1
Ep 433: When You 10X Your Advisory Firm To Over $20M Of Revenue… And Want To 10X Again with Cameron Passmore 1:30:01

28 days ago1:30:01

1:30:01

Cameron Passmore is the CEO of PWL Capital, a wealth management firm based out of Ottawa, Canada, that oversees just over $5 billion Canadian dollars (or approximately $3.5 billion U.S. dollars) in assets under management for 2,400 client households. What’s unique about Cameron is that after growing his firm’s revenue from $2 million to over $20 million as an independent firm over the past decade, he recognized that the next phase of growth required a different approach. By combining with a larger financial conglomerate, he positioned the firm to pursue another 10X growth opportunity in the decade ahead. Listen in as Cameron shares how his firm achieved explosive growth by serving early Shopify employees, building a content engine that has served as a key driver of inbound leads, and differentiating through a planning-first, passive investing approach that is not typical in the Canadian advice landscape. Cameron also discusses his firm's investment in an institutional-grade data lake to enhance the client experience, how their planning teams operate efficiently at scale, and why always being open to new connections has led to some of his biggest business opportunities. For show notes and more visit: https://www.kitces.com/433…

Financial Advisor Success

1
Ep 432: Crafting ‘Input Deliverables’ That Show Financial Planning Value To Clients Without Creating Busy-work with Seth Scott 1:29:08

5 weeks ago1:29:08

1:29:08

Seth Scott is the founder of Heartwood Financial Planning, an advisory firm in Fresno, California that manages $100 million in assets for 850 client households. What makes Seth’s approach unique is his development of an “input deliverable” that simplifies tax planning for his ideal target client, allowing him to demonstrate value without creating time-intensive, custom reports for each individual. By offering this tool, he not only saves time, but also builds trust with prospective clients who may later seek more comprehensive financial planning services. In this episode, Seth also discusses his transition into financial planning from previous jobs in urban planning and real estate, how he grew his business by serving retiring advisors’ client books without having to contribute upfront capital, and why he became a Certified Tax Preparer to better serve his niche. Listen in to hear how he makes inroads with his target clients by helping churches set up 403(b)(9) retirement plans and how his faith has guided him through the challenges of business growth and changing careers. For show notes and more visit: https://www.kitces.com/432…

Financial Advisor Success

1
Ep 431: Successfully Navigating Money Conflicts Within Client Couples with Nick Rodkin 1:30:00

6 weeks ago1:30:00

1:30:00

Nick Rodkin is the managing partner of Stoic Financial, an LPL-affiliated advisory firm based in Florida that oversees $107 million in assets under management for 70 client households. What’s unique about Nick is that after nearly 15 years as a financial advisor, he pursued a master’s degree in marriage and family therapy to enhance his ability to help couples resolve financial conflicts. This additional expertise allows him to address relationship dynamics that may hinder financial decision-making and the implementation of his financial planning recommendations. Listen in as Nick shares how he helps client couples navigate their financial relationships by using structured conversations to uncover money mindsets, encouraging them to become “budget buddies” rather than “expense enemies.” He explains how his service model allows for AUM-based financial planning, flat-fee coaching, and hourly therapy sessions, enabling him to serve a diverse client base. Nick also reflects on how his own therapy journey reshaped his approach to financial planning, shifting from a product-focused mindset to a more human-centered practice that emphasizes actionable advice and meaningful client conversations. For show notes and more visit: https://www.kitces.com/431…

Financial Advisor Success

1
Ep 430: Navigating The Fast-Growth Hiring Challenges Of Scaling From Scratch To $5M Of Revenue In Just 7 Years with AJ Ayers 1:30:24

7 weeks ago1:30:24

1:30:24

AJ Ayers is the co-founder of Brooklyn Fi, an RIA based in Brooklyn—but operating as a fully remote business—that oversees $370 million in assets under management for more than 400 client households. What’s unique about AJ is how she and her business partner successfully tackled the hiring, training, and operational challenges of rapidly scaling their advisory firm from the ground up to $5 million in revenue in just seven years. Their strategic approach to systems and processes allowed them to sustain growth while maintaining efficiency and service quality. Listen in as AJ shares how she and her firm rapidly scaled their advisory business, growing to 14 new clients per month while building a structured training program to onboard advisors in their specialized equity compensation niche. She explains how they leveraged LinkedIn’s Recruiter platform for proactive hiring, developed Gemifi software to streamline equity compensation planning, and implemented a three-part fee model to align revenue with client needs. AJ also reflects on delegating firm operations to reduce her own work schedule, hiring an HR professional to strengthen company culture in a remote environment, and overcoming impostor syndrome by earning niche-relevant certifications and gaining hands-on client experience. For show notes and more visit: https://www.kitces.com/430…

Financial Advisor Success

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Ep 429: What It Takes To Really Help (HNW) Business Owners Navigate Their Wealth With Purpose with Ali Nasser 1:30:00

8 weeks ago1:30:00

1:30:00

Ali Nasser is the Founder of the Wealth Integration System for Entrepreneurs (WISE), an education and coaching company based out of Houston that works with entrepreneurs facing a liquidity event and trying to figure out what’s next—as well as the financial advisors who serve them. Having built a successful advisory business by helping high-net-worth entrepreneurs align their financial goals with their entrepreneurial mindset, even when it conflicted with traditional financial planning advice, Ali's approach was so effective that he eventually sold his advisory firm to focus exclusively on coaching and consulting services for entrepreneurs. Listen in as he explains how he helps entrepreneurs manage concentration risk, overcome reluctance to invest outside their business, and address lingering financial scarcity mindsets despite their significant wealth. You'll hear about his journey from advisory firm owner to full-time coach, the challenges of ensuring a team delivers a consistent, high-level client experience, and why he ultimately decided to focus on empowering business owners and the advisors who serve them. For show notes and more visit: https://www.kitces.com/429…

Financial Advisor Success

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Ep 428: Leveraging (Salesforce) CRM To Really Systematize A Mid-Sized Advisory Firm with Lorie Jones 1:30:00

9 weeks ago1:30:00

1:30:00

Lorie Jones is the Wealth Manager at Fearless Financial Advisors, a DBA of hybrid advisory firm Fidelis Wealth Advisors based out of Colorado, where she oversees $30 million in assets under management for 88 households. What sets Lorie apart is how she maximized the capabilities of Salesforce CRM—typically used by larger firms due to its advanced features and higher cost—to streamline processes and workflows while working at a mid-sized advisory firm without the need for costly Salesforce developers, demonstrating how a well-optimized CRM can enhance efficiency across the firm. Listen in as Lorie shares how she leverages Salesforce’s "clicks not code" functionality to create custom automations—such as her innovative "magic buttons"—that streamline firm operations, from client onboarding to money movements. She also discusses her journey from an administrative role to firm partner, her transition into full-time advising to focus on serving high-net-worth women, and how she overcame the challenges of launching her own practice. Lorie also reflects on balancing earning her CFP and MBA while raising five children, how starting a podcast helped her gain confidence in prospecting, and why learning from mentors empowered her to take bold career risks. For show notes and more visit: https://www.kitces.com/428…

Financial Advisor Success

1
Ep 427: Finding The Director Of Operations That Can Rebuild Your Team To Get To The Next Level with Sten Morgan 1:29:59

10 weeks ago1:29:59

1:29:59

Sten Morgan is the owner of Legacy Investment Planning, a hybrid advisory firm based in Franklin, Tennessee, that oversees $220 million in assets under management for 90 client households. Today Sten joins the show to share how he made the difficult decision to turn over his entire original team and rebuild with a new director of operations to create a stronger foundation for future growth. He explains how he identified cultural and operational misalignments, navigated tough conversations with employees, and structured his hiring process to ensure the right people joined his firm. Listen in as Sten walks us through his firm’s five-step hiring process, why he insists on interviewing at least 4-6 candidates before making an offer, and the strategies he uses to work effectively with recruiting firms. He also shares why he's focusing on operational efficiency before engaging in a period of growth, how he proactively hires for roles before the need becomes urgent, and his structured approach to iterating on business ideas. If you're looking for insights on building the right team for long-term success, this episode is for you. For show notes and more visit: https://www.kitces.com/427…

Financial Advisor Success

1
Ep 426: Rolling Out An Equity Compensation Plan To Align The Entire Team On Client Service And Profitable Growth with Jennifer des Groseilliers 1:30:00

11 weeks ago1:30:00

1:30:00

Jennifer des Groseilliers is the CEO of The Mather Group, an RIA based in Chicago, Illinois, that oversees $15 billion in combined assets under management and advisement for approximately 4,400 client households. Today Jennifer shares how her firm has designed an program of broad-based equity awards across the firm to align the interests of employees with the firm’s long-term client service and growth goals. In this episode, Jennifer breaks down how her firm sets performance targets and ensures that employee incentives are tied to the firm’s enterprise value. We also discuss how The Mather Group streamlines operations through goal-setting systems like SMART goals and HR tracking tools, separates sales and advisory roles to optimize client acquisition and service, and fosters leadership development through emotional intelligence. Listen in to learn how strategic equity grants can drive business success while empowering employees. For show notes and more visit: https://www.kitces.com/426…

Financial Advisor Success

1
Ep 425: Implementing A Financial Planning Quality Control System To Improve Both Client Outcomes And Referrals with Sebastian Guerra 1:29:59

12 weeks ago1:29:59

1:29:59

Sebastian Guerra is the President of Guerra Wealth Advisors, a hybrid advisory firm based in Miami with nearly $15M of revenue and almost 60 team members, supporting over 1,700 client households. What's unique about Sebastian is how his firm has implemented a quality control system where a team member follows up with clients right after their advisor meetings to gather feedback and ensure high service standards. This approach not only improves the client experience, but also encourages referrals, online reviews, and social media engagement by prompting clients to act immediately after providing positive feedback. Listen in as Sebastian discusses how the firm attracts and consolidates assets from new and existing clients—onboarding nearly 480 households in a single year—with educational events and a streamlined process enabling advisors to handle up to 35 weekly meetings. He also highlights how his firm has benefited from using the Entrepreneurial Operating System amidst its rapid growth, how his firm leverages an in-house recruiter to find top talent, and how he balances his business commitments with his evolving priorities as a new husband and father. For show notes and more visit: https://www.kitces.com/425…

Financial Advisor Success

1
Ep 424: Executing A Successful Internal Succession Plan In The Private Equity Era Of Advisor M&A with David Grau Jr. 1:30:00

13 weeks ago1:30:00

1:30:00

David Grau Jr. is the president of Succession Resource Group, an advisory consulting and valuation business based out of Oregon that serves independent financial advisors with RIAs and broker-dealers. What sets David apart is his two decades of experience supporting financial advisory firms, which has allowed him to identify best practices for founders and successors navigating increasingly complex internal succession plans. This is especially valuable as founders face growing challenges due to frequent, high-valuation offers from private equity-backed acquirers. Listen in as David shares best practices for preparing firms for internal succession, including establishing defined career tracks, organizing business metrics, and breaking ownership transitions into manageable tranches to ease financial commitments for successors. He discusses why internal successions remain viable—despite the allure of high valuations from private equity-backed buyers—highlighting how these deals often include challenging growth targets and less favorable terms hidden in the fine print. David also explains how preparing for internal succession can actually boost external valuation and why founders may find greater satisfaction in leaving a lasting legacy through their firm by transitioning it to internal successors. For show notes and more visit: https://www.kitces.com/424…

Financial Advisor Success

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Ep 423: Expanding Across The Household By Helping (Affluent) Sandwich Generation Kids With Their Parents’ Financial Needs with Cristina Livadary 1:30:00

14 weeks ago1:30:00

1:30:00

Cristina Livadary is the CEO of Mana Financial Life Design, an RIA based in Los Angeles (that works virtually with clients nationwide) overseeing approximately $70 million in assets under management for 119 client households. Cristina's firm helps “sandwich generation” clients by crafting financial plans that address their personal needs and goals while also offering optional add-on planning engagements to tackle the financial challenges of their aging parents, who may require support in the future. This dual-focus approach ensures comprehensive support for clients navigating intergenerational financial responsibilities. Listen in as Cristina shares how her personal experience navigating the challenges of caring for aging parents and young children inspired her to focus on serving this niche. She also discusses how she transitioned her firm to a complexity-based fee structure, how she conducts 20-minute “fit” meetings to determine whether prospective clients will be a good fit for her firm’s services and fee model, and the lessons she’s learned about creating defined roles for new hires in order to build a cohesive team. For show notes and more visit: https://www.kitces.com/423…

Financial Advisor Success

1
Ep 422: Developing Your Leadership Skillset On The Path From Intern To President Of A $13B AUM Enterprise with Kay Lynn Mayhue 1:30:00

15 weeks ago1:30:00