New Leader


Most of the topics covered on this blog reference breakaway advisors.  That story is getting tired so this week we will examine breakaway leaders.  The two that stand out because of their success are the leaders at Dynasty and Rockefeller. We have written about the old guard leaders before.  This week we will examine that there is more than the person in charge it is what they provide clients and advisors.  We have more questions that we all need to consider before changing jobs.  

Legacy Business

Many leaders in the independent wealth advisory business made their mark on Wall Street in a dated business model.  I resemble that remark and welcome the questions on how I can transition my Wall Street “success” to an independent and un-conflicted business.  Advisors and clients should ask the question of how you will change.  We need to be careful to not take the political approach of changing everything the past administration accomplished.  We can’t be that clueless but every replacement says they are different.  Many established firms take a similar approach when the senior management changes and they believe they need to shake things up.  Unfortunately the new leaders don’t ask the correct questions and implement solutions from their old firm.


Independent Business

One of the most important approaches I learned and observed while serving on the advisory board of one of Steve Case’s firms was to survey the clients.  We surveyed our clients at Sanctuary and were surprised to find that the service the advisory teams rated at the top was our low cost transition loan.  You never know unless you ask.  The metric that many firms use is AUM.  I hope we could take the approach of the nation of Bhutan and survey the happiness of our clients.  They is more to client happiness than money. Academic reasearch has proven that.  




When we close  the curtain to the voting booth we need to ask why we are voting for the candidate.  Polls and family members have missed the grade.  Maybe we need to ask questions and find a consigliere that can help.

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