Nerd's Eye View blog

#FASuccess Ep 443: Going Deep With Business Owners And Real Estate Investors To Grow $200M Of AUM In 5 Years, With Griffin Kirsch

June 24, 2025 07:02 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 443rd episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Griffin Kirsch. Griffin is the owner of GK Wealth Management, an RIA based in Reno, Nevada, that oversees $200 million in assets under management for 450 client households.

What's unique about Griffin, though, is how he has grown his AUM to $200 million in five years (with a 70% margin in terms of earnings before owner compensation) by providing high-touch planning for business owners and real estate investors even though he doesn't charge a fee on these assets.

In this episode, we talk in-depth about how Griffin leverages his own experience as a firm founder to support his business-owner clients navigate financial planning decisions (in particular, tax planning opportunities), how Griffin encourages his business-owner clients to invest a portion of their profits outside of the business to diversify their asset base and take advantage of opportunities in real estate and public markets, and how Griffin helps clients analyze options to purchase real estate (both for investment and personal use) as a high-value service.

We also talk about how Griffin brought in $50 million in client assets in 2020 alone in part by reaching out directly to businesses and letting them know about opportunities through the Paycheck Protection Program and Employee Retention Tax Credit (connecting them to a trusted CPA who became an effective referral partner), how Griffin builds relationships with key centers of influence, for instance by proactively reaching out to his clients' CPAs and communicating his tax planning recommendations (which saves time for the CPAs and leads to additional referrals to Griffin's firm), and why Griffin is willing to serve higher complexity clients who pay relatively low fees because they often have deep networks and are often his top referral sources.

And be certain to listen to the end, where Griffin shares how he segments clients based on complexity and the number of meetings and other touchpoints they need during the year (which doesn't necessarily line up directly with the investible assets they bring to the firm), how Griffin leverages third-party investment managers to save time on investment research and to provide access to a variety of strategies for clients with different asset allocation needs, and how Griffin not only is focused on additional growth within his firm but also ensuring that he is 'replaceable' (whether for an extended vacation or permanent absence) by giving the newer advisors in his firm more client-facing opportunities to ultimately make them 'irreplaceable'.

So, whether you're interested in learning about offering high-value services for business-owner clients, building relationships with key centers of influence, or leveraging third-party investment managers to improve business efficiency and client outcomes, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Griffin Kirsch.

11 Reasons Why People Hire Advisors (And How To Communicate That Value To Prospects)

June 23, 2025 07:01 am 0 Comments CATEGORY: Marketing

Advisors have a relatively brief window of time to communicate their value to prospective clients. Many prospects ask friends and professionals for recommendations, browse a few firm websites, and typically interview only one or two advisors before deciding whom to hire. This means advisors must communicate both their services and values within a very limited – and not always synchronous – span of time. Given how little time prospects spend evaluating their options, it's crucial to understand why people hire financial advisors and to communicate how their services address those drivers as clearly and effectively as possible.

In this article, Senior Financial Planning Nerd Sydney Squires draws on research from Morningstar that identifies 11 core motivators that influence how prospects choose their particular advisor. These motivators fall into three categories: emotional, financial, and situational ("other"). Emotional motivators were the most commonly cited, with 60% of respondents indicating these as their primary reason to hire their advisor. These included trust, communication quality, and a general discomfort managing finances alone. Financial motivators – such as solving a specific issue or seeking better investment performance – were cited less frequently, but remain important, especially when a prospect has a clearly defined financial pain point. Finally, situational factors – proximity in particular – rounded out the list. Notably, prospects rarely hire an advisor based on all 11 motivators. Rather, they often seek just one or two key values that align with their personal priorities.

To connect with prospects motivated by emotional drivers, advisors can consider strategies that make it simple for prospects to get a 'feeling' for the firm. Success stories, case studies, and a well-crafted About Page on their website can help prospects get an overview of the firm's values and philosophy. Financially motivated prospects, meanwhile, benefit from clarity and specificity. Firms can spotlight the concrete financial services they provide – such as tax strategies, retirement planning, or investment management – in clear, client-friendly language. Finally, for clients who prioritize a local presence, local SEO strategies can make a tremendous difference in boosting visibility among prospects seeking in-person engagement.

The overarching takeaway is that advisors don't need to meet all 11 criteria to attract new clients. Instead, they can identify which motivators align most closely with their existing client base and business model, and then focus their messaging across their website, collateral, and conversations to reflect that value clearly and consistently. Understanding what drives good-fit prospects – and communicating it with empathy and precision – can help position advisors not just as one of the few a prospect interviews, but as the one they choose.

Ultimately, refining an advisor's messaging is an ongoing and iterative process. What resonates today may evolve as a firm's ideal clients shift or as market conditions change. Soliciting real-time feedback from prospects about what stood out or prompted them to reach out can be an invaluable source of input for continuous improvement. In the end, authentic, focused messaging that reflects the true value an advisor delivers can build trust, increase engagement, and help firms serve clients more meaningfully!

Weekend Reading For Financial Planners (June 21–22)

June 20, 2025 02:01 pm 0 Comments CATEGORY: Weekend Reading

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that Senate Republicans this week released their version of major tax legislation, following the passage of similar legislation in the House of Representatives last month. While the core of the Senate legislation largely mirrors that of House-proposed measures, including permanently extending (i.e., without a scheduled sunset) the lower individual tax rates enacted as part of the Tax Cuts and Jobs Act (TCJA), and maintaining the estate tax exemption at TCJA-prescribed levels (which would reach approximately $15 million in 2026), there are several differences between them (e.g., with the Senate maintaining the $10,000 cap on the deductibility of State And Local Taxes [SALT], whereas the House would raise the limit to $40,000, subject to certain income limitations). Further, disagreements on other parts of the legislation (e.g., cuts to Medicaid spending) could make passing the legislation by President Trump's target of July 4th challenging (though legislators would still have time to do so before certain TCJA measures expire at the end of the year).

Also in industry news this week:

The SEC this week announced that it is axing several rules proposed during the tenure of previous Chair Gary Gensler that would have impacted RIAs, including the outsourcing and predictive data analytics rules and amendments to the Custody Rule
An SEC committee has recommended several reforms related to the use of mandatory arbitration agreements by RIAs, though stopped short of a call to restrict them outright

From there, we have several articles on retirement planning:

The latest report from the Social Security Board of Trustees reveals that while the date of exhaustion for the Social Security trust fund approaches, policymakers still have several options to shore up the system and prevent any reduction in benefits
Many Americans appear to be contemplating claiming Social Security benefits based on concerns about its sustainability and administration, offering an opportunity for advisors to provide a more complete picture of how the system operates
How delaying Social Security benefits can potentially generate a stronger return than a variety of other investment options

We also have a number of articles on client communication:

How using a 'master list' of goals can help reveal client goals that they might not have thought of on their own
How advisors can examine a client's goals to assess how they might react during future bouts of market volatility
How advisors can encourage clients to become more flexible with their goals to help them avoid going down an unsustainable path if circumstances turn against them

We wrap up with three final articles, all about the modern workplace:

A recent study of Microsoft user data finds that workers receive an average of 117 emails and 153 instant messages daily (in addition to an onslaught of scheduled and impromptu meetings), creating distractions from focus work and often leading their workdays to bleed past regular business hours
Some research suggests that Americans' commutes have gotten longer amidst an increase in hybrid workplace policies and rising home prices
Why employee stress is not just a matter of workplace wellness, but represents a business risk for firms as well

Enjoy the 'light' reading!

The Liability Risk Of Giving Inadvertent Tax Advice (And How To Avoid It)

June 18, 2025 07:02 am 0 Comments CATEGORY: Taxes

In recent years, financial advisors have increasingly embraced tax planning as a core element of delivering value to clients. This shift reflects the reality that taxes permeate virtually every financial decision clients make – whether related to investing, retirement, business structure, or charitable giving – and often represent one of the largest expenses faced by clients over their lifetime. Historically, tax-related services within advisory firms were primarily focused on investment strategies, like using ETFs for their tax efficiency or implementing asset location and tax-loss harvesting strategies to boost after-tax returns. But as the profession has evolved toward more holistic planning, tax considerations have likewise expanded into more areas of advice, including Roth conversions, charitable strategies, and small business structuring.

Despite this growing interest in tax conversations, most advisors are still quick to distinguish their services as "tax planning", not "tax advice" – a distinction largely driven by liability concerns. While common wisdom suggests that only CPAs, EAs, or attorneys are authorized to give tax advice, this is only strictly true in limited contexts, such as in promoting abusive tax shelters. The broader concern is that giving actionable tax advice can expose advisors to legal and financial liability, especially since RIA compliance policies and E&O insurance typically only cover investment advice. As such, advisors who provide specific tax recommendations (like exact Roth conversion amounts), without the backing of a tax professional, risk legal and financial penalties if those recommendations result in unintended tax consequences.

Understanding the difference between tax planning and tax advice is crucial for advisors seeking to stay on the right side of this liability line. Tax planning may involve discussing general tax rules, modeling hypothetical scenarios, or analyzing the tax impact of strategies for the client – without actually making concrete recommendations. Tax advice, by contrast, involves discussing specific actions with tax consequences, which can expose advisors to significant legal risk, particularly when clients interpret such statements as recommendations. Given how easily clients may conflate a discussion of potential tax savings with an endorsement to act, advisors must be extremely careful in how they communicate tax-related strategies.

Additionally, recent developments in advisory firm practices and technology have further blurred the lines between planning and advice. For instance, the rise of live, collaborative planning sessions in lieu of static, written reports means there are fewer opportunities for advisors to append disclaimers clarifying that they don’t intend to give tax advice. At the same time, the emergence of sophisticated tax planning software like Holistiplan and FP Alpha introduces a higher level of precision and actionability to advisors’ planning conversations, increasing the change that suggestions may be construed as advice.

To navigate this environment, advisors may consider a two-part strategy: First, by proactively setting expectations during meetings with a clear verbal preface explaining that tax advice falls outside the scope of their role; and second, by documenting the conversation to clarify what was discussed, explicitly note the absence of a formal recommendation, and reiterate the importance of consulting a qualified tax professional. This step is especially important in spontaneous or emotionally charged situations where advisors may feel pressure to respond quickly. AI meeting notetakers can assist in documenting these interactions, but advisors should review the tools’ output carefully to ensure no inadvertent ‘recommendations’ are implied.

Ultimately, the rising integration of tax strategies into financial planning is a positive development that enhances the value advisors can deliver. But it also demands new considerations in how those strategies are presented. By clearly delineating the boundary between planning and advice, and by proactively communicating and documenting that boundary, advisors can continue to offer high-impact tax insights while protecting themselves and maintaining the trust of their clients.

#FASuccess Ep 442: Attracting $100M Per Month Of Like-Minded Clients By Being Vocal About (Divisive) Issues You’re Passionate About, With David Bahnsen

June 17, 2025 07:01 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 442nd episode of the Financial Advisor Success Podcast!

My guest on today's podcast is David Bahnsen. David is the founder of The Bahnsen Group, an RIA based in Newport Beach, California, that oversees approximately $7.5 billion in assets under management for 1,800 client households.

What's unique about David, though, is how his firm has been able to attract $100 million in new client assets per month thanks in large part to his content creation and public commentary on investment markets as well as issues that advisors often avoid, including religion and politics.

In this episode, we talk in-depth about how David's weekly market commentaries (which he has written since 2008 and draws 15,000 weekly viewers across blog, podcast, and video formats) familiarize readers with his firm's investment approach and put it top-of-mind when they are ready to seek out a financial advisor, how David has written multiple books on markets and his other passions that not only have educated readers on his views on these issues but also have led to many television appearances that have expanded his reach further, and how being public with his opinions on divisive topics has allowed David to demonstrate competence and likeability, attracting to his firm both like-minded consumers and some who might disagree with him but appreciate his willingness to be candid.

We also talk about how David's transition from focusing on both business development and client service to spend much of his time on content creation (reducing his client count from 180 to 20 in the process) has led to explosive asset and client growth in his firm during the past several years, why David focuses on hiring advisors with talent in financial planning and relationship management (rather than prospecting, given the robust lead pipeline his content generates), and how David has implemented a pay model that offers advisors a base salary in their early years while providing for significant income upside through revenue-based compensation (and a path to partnership) as they serve more (and higher-net-worth) clients over time.

And be certain to listen to the end, where David shares why he decided to incorporate tax preparation into his firm not as a profit center but rather as a way to offer a comprehensive financial services offering for clients (helping the firm close more prospects and maintain higher client satisfaction in the process), how David has found success opening offices located away from coastal population centers (not only to attract clients in those cities but also to demonstrate that they are a truly national firm), and how David, after growing a successful firm, is now focused on opportunities for his firm's advisors to develop in their careers as well as the ultimate stewardship of his business.

So, whether you're interested in learning about leveraging content across multiple media to attract like-minded clients, transitioning from a lead advisor to management role, or the decision making behind opening offices in new locations, then we hope you enjoy this episode of the Financial Advisor Success podcast, with David Bahnsen.

Trends In Financial Advice Fees: What Financial Advisors Are Actually Charging For Their Services

June 16, 2025 07:03 am 0 Comments CATEGORY: Practice Management

How advisory firms charge for financial advice has long been a central question in the profession. While many firms have historically relied on commission-based compensation methods – reflecting a sales-driven approach – financial advice has evolved with technological advancements and a greater focus on financial planning, with the Assets Under Management (AUM) fee emerging as the primary compensation model. Now, as financial advicers expand their services beyond traditional planning into more holistic, personalized advice, the very definition of financial advice continues to evolve. As a result, firms must continually reassess how they structure their fees to align with their growing range of services.

For firms evaluating pricing strategies, considering how others in the industry are adapting provides useful insights. Despite ongoing changes in the philosophy of financial advice, new Kitces Research on How Financial Advisors Actually Do Financial Planning finds that 86% of advisory firms still rely on AUM fees as their primary method of charging for advice. While this model remains widespread, firms have adopted different ways of structuring their AUM fees to align with their service models and client needs.

At the same time, AUM-based pricing is not without its criticisms. One common concern is that an advisor managing a $4M portfolio does not necessarily do twice the work of one managing a $2M portfolio, despite the fee being twice as high. However, most firms do not price their services in such a strictly proportional manner. Only firms using a flat fee structure, where a single rate applies to the entire portfolio regardless of size, use this kind of direct fee scaling. Instead, graduated and cliff pricing structures – which apply tiered or blended rates as assets grow – help balance costs across different client segments. These structures can also help advisors remain competitive on pricing, which may explain why 58% of firms use graduated fee structures, making them the most common pricing approach.

Despite its widespread use, AUM-based pricing has its limitations – it exposes firms to market risks and restricts the types of clients they are able to serve. To mitigate this, some firms 'unbundle' their fees, separating investment management, financial planning, and other services into distinct project-based, hourly, or retainer fees instead of covering everything under a single AUM fee. Notably, across nearly all client segments, research finds that the total fees charged by advisors who offer bundled and unbundled services tend to be nearly identical, suggesting that unbundling could be a viable way to make financial advice more accessible to clients with smaller portfolios. Another way firms reduce reliance on AUM fees is by using multiple charging methods, such as combining AUM fees with project-based or retainer fees. In fact, 72% of advisory firms use more than one charging method, allowing for greater flexibility in serving a broader range of clients.

Ultimately, as financial planning becomes more comprehensive and customized, fee structures are evolving to reflect this shift. While the mechanics of charging fees may not always change, the broader conversation around fees has continued to develop. At the same time, a wider range of fee structures could help firms serve a more diverse client base by expanding access to financial advice, which has traditionally remained concentrated in high-net-worth households. In other words, as financial planning becomes increasingly comprehensive, firms have the opportunity not only to refine their pricing models but also to rethink how they define – and deliver – value!Read More...

Weekend Reading For Financial Planners (June 14–15)

June 13, 2025 02:00 pm 0 Comments CATEGORY: Weekend Reading

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that a recent survey of U.S. investors found that while 96% of respondents said they trust their (human) financial advisor, only 29% said they trust algorithms, suggesting that consumers continue to impose a "trust penalty" on algorithmically generated advice. Other key findings from the survey included a gap between long-term investment return expectations of investors and advisors (12.6% and 7.1%, respectively), continued investor concerns about inflation (with 61% ranking it as their top financial fear), and an increased demand for tax planning services (perhaps amidst the potential sunsetting of several measures within the Tax Cuts and Jobs Act), all of which offer advisors the opportunity to add value through proactive communication and technical planning strategies.

Also in industry news this week:

Under its budget proposal for the fiscal year 2026, the SEC expects to be able to examine 11% of RIAs per year, down from 14% in 2024, as it trims staff throughout the organization
RIAs lead the way among advisory channels in AI adoption, according to a recent survey, as advisors on the whole see themselves as more knowledgeable about technology.

From there, we have several articles on investment planning:

How interested financial advisors can evaluate different types of private investments, whose return profiles tend to be more opaque and challenging to analyze compared to publicly traded instruments
Why one author sees a confluence of factors (including a relatively low cost of capital and a sluggish IPO market) supporting private equity investments in the current economic and market environment
How advisors can offer value by helping clients understand whether they truly need to take the risks associated with certain alternative investments

We also have a number of articles on marketing:

Six ways advisory firms can fuel organic growth, from identifying their "loyal client advocates" to giving staff members specific business development roles that align with their strengths
How advisors can effectively attract and serve women clients, whose wealth has increased significantly and is likely to continue to do so in the coming years
How demonstrating expertise in helping clients during a specific major life transition (e.g., buying a home or claiming Social Security benefits) can help advisors tap into a potential pool of millions of individuals who face that challenge each year

We wrap up with three final articles, all about Artificial Intelligence (AI) and the workplace:

Why natural language processing tools (rather than text generation or more advanced "agents") could be the next big use case for AI in the workplace
Why professionals whose work is "illegible" (a group that likely includes comprehensive financial planners) will be less likely to see their jobs threatened by AI
How a new generation of AI-powered tools allow advisors to create their own applications without needing to have coding skills

Enjoy the 'light' reading!

Kitces & Carl Ep 166: Financial Planners As The Guide To Help Clients Navigate Potentially Changing Terrain?

June 12, 2025 07:04 am 0 Comments CATEGORY: Kitces & Carl Podcast

Every financial or business decision brings some amount of inherent risk. However, the consequences of those decisions – positive or negative – don't always align with the actual level of risk taken. As a result, when advisors are tasked with (re-)educating clients about the potential consequences of financial decisions, there may be a disconnect between potential risk and what a client actually experiences. So how can advisors help clients understand dangers they haven't personally encountered?

In our 166th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how advisors can bridge the gap between planning and a client's lived experience to guide better decision-making.

One helpful framework to contextualize financial decisions is the concept of 'wicked' versus 'kind' learning environments. Kind environments have clear rules, quick feedback, and consistent patterns, making them easier to navigate and learn from. Tax planning often fits the 'kind environment' model: The rules are relatively stable, outcomes repeat annually, and feedback is immediate (e.g., a tax bill or refund). By contrast, wicked environments feature ambiguous rules and delayed or misleading feedback, where individuals can 'learn the wrong lesson'. Investment planning falls into this camp; a client who makes a risky bet and sees strong returns might conclude the strategy is sound, even if it was more luck than skill.

For planners, kind environments tend to allow for systematization and consistent advice delivery. Wicked environments, however, require more narrative focus and concrete examples. Advisors can use historical context and stress testing to show clients how a situation might play out differently under less favorable conditions. And when clients persist in making risky decisions, advisors can help by constructing guardrails, allowing for some flexibility while protecting against catastrophic loss.

The wicked/kind framework also appears in business leadership. Those who thrive in kind environments may excel at optimizing systems and scaling efficiently but might miss warning signs when conditions shift. Leaders in wicked environments may excel in handling ambiguity and disruption but may struggle to maintain stability in calmer business environments. Both leadership styles offer value, but they manage different types of risk and opportunity.

Ultimately, the key point is that the results of a decision don't always reflect the risk involved. Advisors who recognize this disconnect – and who adjust their planning strategies to fit the terrain – can help clients and businesses remain resilient across a wide range of circumstances. That means knowing when to lean into systems and when to pause and reassess, when to simplify, and when to explore new possibilities. And by helping clients understand the type of environment they're in – and shifting between 'peacetime' and 'wartime' toolkits as needed – advisors can offer more than just technical guidance. They become trusted navigators in a changing landscape, offering clarity, perspective, and a steadier path forward in an uncertain world!

Motivating Clients Of All Ages And Life Stages To Stop Delaying Estate Planning

June 11, 2025 07:02 am 0 Comments CATEGORY: Estate Planning

Even with the right messaging and tools, many clients still delay the estate planning process for various reasons. Some may assume that estate planning doesn't apply to their stage of life, especially those in their 30s–50s, who often believe their assets will automatically pass to a partner or children. But that assumption overlooks the nuances of state intestacy laws, which determine what happens when someone dies without a will. Others may agree, in theory, that estate planning is important but never follow through, either because the process feels overwhelming or because they're not sure how to begin.

In this guest post, Dave Haughton, Senior Corporate Counsel at Wealth.com, discusses how advisors can help clients overcome the logistical and emotional roadblocks that often get in the way of taking action. For many clients, the hesitation is more psychological than procedural. Estate planning means confronting death, working through sensitive family dynamics, and making decisions they may not feel ready for. Even clients who are willing to engage may find themselves stalled by the ‘paralysis of analysis' when faced with the complexity of estate planning.

To help move forward, advisors may need to shift the conversation from legal documents to personal values – framing estate planning as a way to preserve family harmony and protect loved ones. These motivators can give clients a clearer sense of purpose and make the process feel more meaningful. Life events such as marriage, divorce, the birth of a child, the sale of a business, or an upcoming international trip create natural opportunities for a conversation about estate planning. When no triggering event is present, timely news stories such as a celebrity estate planning incident can offer a relatable entry point and make the stakes more tangible.

If a client is just starting their estate plan or hasn't revisited it in years, the process can feel daunting. Advisors can ease the burden by focusing first on the essentials: a last will and testament, a revocable living trust, and powers of attorney. Addressing these core documents first can provide clarity and momentum, while creating space to revisit more complex issues over time. Estate planning can then become a recurring agenda item and incorporated into a planning service calendar. This approach can make the process more manageable while reducing the anxiety many clients associate with estate planning.

Ultimately, the key point is that while procrastination around estate planning is common, advisors can play a powerful role in helping clients overcome inertia. By making the process feel approachable and incrementally achievable, advisors can help transform estate planning from an intimidating obligation to an empowering act of care!

#FASuccess Ep 441: What It Really Takes To Implement And Scale Compliance As An Independent RIA Grows, With Leila Shaver

June 10, 2025 07:03 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 441st episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Leila Shaver. Leila is the founder of My RIA Lawyer, a compliance and legal services firm based in Alpharetta, Georgia, that serves RIAs, broker-dealers, and other financial services companies.

What's unique about Leila, though, is how she helps firms navigate the increasing compliance burdens that can arise as they grow in size and complexity to ensure they remain in line with the requirements of their relevant regulators.

In this episode, we talk in-depth about how Leila has found that the time firms need to spend on compliance can vary based on their size (with solo advisors possibly only needing to spend a couple of hours per month and increasing as they add more employees), how Leila finds that firms tend to start looking for outsourced compliance solutions once they reach approximately $500 million in AUM (based on the growing complexity of the firm and the increased time needed to devote to supervision and other compliance tasks), and why Leila thinks that it’s not unreasonable for larger firms to spend 5–10% of their annual revenue on compliance (whether by hiring a sufficient number of internal compliance professionals and/or engaging an outsourced solution that can fully understand the firm’s operations).

We also talk about how Leila finds that while there are similarities between broker-dealer and RIA compliance (for example, in terms of practical testing requirements) many advisors who transition to the RIA model find that compliance is often less burdensome, how Leila sees broker-dealer compliance under FINRA as more rules-based and prescriptive while RIA compliance under the SEC is more principles-based (leaving greater room for interpretation on the part of the firm), and how Leila thinks that firms can benefit from working with a lawyer on compliance issues in order to not only get compliance guidance, but also actual legal advice when needed.

And be certain to listen to the end, where Leila shares why it’s valuable for firms to keep their compliance professionals in the loop when business planning to ensure potential time and/or hard dollar compliance costs are kept in mind when considering new initiatives, why Leila’s firm is building technology tools to both capture books and records needed for compliance but also ease the supervisory burden of compliance professionals, and how Leila has found many similarities between building an advisory business and a legal services firm, including the importance of having a differentiator in the marketplace and the time (and effort) it can take to build a successful practice.

So, whether you’re interested in learning about what it takes for RIAs to stay compliant with relevant regulations as they grow, the differences between RIA and broker-dealer regulation, or how to decide whether to handle compliance responsibilities in house or to hire external support, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Leila Shaver.