Nerd's Eye View blog

Growing To $500M AUM With An Evergreen HNW Client Service Calendar For Evergreen Fees: #FASuccess Ep 470 With Debra Taylor

December 30, 2025 07:03 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 470th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Debra Taylor. Debra is the managing partner of Carson Wealth Franklin Lakes, a practice within the RIA Carson Wealth and based in Franklin Lakes, New Jersey, that oversees $500 million in assets under management for 120 client households.

What's unique about Debra, though, is how she has developed a client service calendar for her high-net-worth clients that allows her to close more new business and retain more clients by demonstrating the value her team provides throughout the year in return for the fees her clients pay.

In this episode, we talk in-depth about how Debra built out her client service calendar in response to a number of clients who left her practice to handle their finances on their own (perhaps not understanding the full value they were receiving from the planning relationship), how Debra implements the service calendar efficiently by having certain items apply to all clients (for example, an annual tax letter) and others only to clients with certain needs (for instance, changes to a client's estate plan), and how Debra divides the service calendar into “seasons” (that allow for greater flexibility compared to calendar quarters), with key service elements in each one (such as an investment deep dive in the spring and tax return review and analysis in the summer).

We also talk about how Debra puts tax planning at the center of her value proposition, in part by creating a tax-aware distribution plan for her clients (including strategic partial Roth conversions during opportune times in the year), how Debra finds that having a client service calendar (and sending video explanations when updating clients plans) reduces the pressure to fit in too much during client meetings (which can instead be a time for follow-up or client questions), and how Debra has found that implementing the service calendar (and being able to show the hard-dollar tax savings from distribution planning) not only has led to a higher closing rate of new clients (who better understand the depth of value her team provides) but also greater retention of current clients who can more easily see the value they're receiving (which goes well beyond what they could do on their own) for the fees they're paying.

And be certain to listen to the end, where Debra shares how she created a graphic that shows how her firm goes beyond traditional investment management to offer financial planning and in-depth tax planning to differentiate her practice in the eyes of prospects, how Debra's team might appear heavily staffed for the number of clients they serve but in reality reflects the revenue she's bringing in (and the level of service provided to clients throughout the year), and how Debra transitioned her personal clients to other team members so she can focus on business development and speaking opportunities (and how the calendar supported this by helping clients see the value her firm can provide beyond her individual presence).

So, whether you're interested in learning about building a client service calendar to demonstrate the value your firm provides throughout the year, putting tax planning at the center of your value proposition, or creating one-page graphics to explain your offering and win more clients, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Debra Taylor.

The Best Of Weekend Reading 2025: The Top 23 Articles You Might Have Missed

December 29, 2025 07:02 am 0 Comments CATEGORY: Nerd's Eye View

Each week in Weekend Reading For Financial Planners, we seek to bring you synopses and commentaries on 12 articles covering news for financial advisors, including topics covering technical planning, practice management, advisor marketing, career development, and more. And as 2025 draws to a close, we wanted to highlight 23 of the most popular and insightful articles that were featured throughout the year (that you might have missed!).

We start with several articles on retirement planning:

20 potential mistakes prospects and clients might make with regard to their IRAs, and how advisors can help fix them (or avoid them in the first place)
An exploration of two options for how clients can sustain consistent inflation-adjusted portfolio withdrawals in a retirement that could last beyond 30 years
Four ways to beat "sequence of return risk", including incorporating flexible spending rules, holding "buffer" assets, and more

From there, we have several articles on Social Security planning:

How advisors can incorporate a client's Social Security benefits into their broader retirement income strategy to match client preferences for lifetime income and/or legacy interests
How a Social Security "bridge" strategy that allows them to delay claiming benefits could provide clients with greater income throughout their retirement
Why a subset of financial advisory clients might consider claiming Social Security benefits early, from a current need for additional income to a compelling health reason

We also have a number of articles on tax planning:

How advisors can offer clients value by correctly timing Roth conversions and Required Minimum Distributions (RMDs) to avoid potential penalties or excess contributions
An analysis of the upsides and downsides of different tools (including Section 351 ETFs, exchange funds, and 'side portfolios') that can be used to diversify a client's portfolio with large embedded capital gains while deferring taxation
A mathematical analysis of Roth conversions identifies the factors that can make this strategy more likely to be successful for an advisor's clients

Next, we have a few articles on investment planning:

A 150-year stress test of the 60/40 portfolio shows its ability not only to limit the depth of portfolio drawdowns, but also their length as well
While a review of research on the topic suggests that portfolio rebalancing might not lead to better risk-adjusted returns, it could still prove to be a valuable tactic for advisors, particularly when it comes to aligning a client's portfolio to their risk tolerance and capacity
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

We continue with two articles on insurance planning:

A framework for helping clients determine the 'right' amount of insurance needed for their particular circumstances
The value for clients of maintaining adequate disability insurance and potential pitfalls to monitor when evaluating different types of coverage

From there, we have a pair of articles on education planning:

How legislation from the past few years has made saving for college in 529 plans increasingly attractive
The pros and cons of four alternatives to 529 plans for education savings, including taxable brokerage accounts and Roth IRAs

Next up are a couple articles on client communication:

Nine ways advisors can leverage the power of questions to build closer (and more lasting) relationships with prospects and clients
How providing a "master list" of goals can help clients explore more specific, vivid objectives and expand their horizons for what retirement might look like

We continue with a few articles on practice management:

Four unconventional KPIs that can measure a firm's productivity, including revenue per hour worked and an impact score to measure the value of different client touchpoints
A blueprint for how firms can create employee career paths that encourage staff to grow and advance within the firm, promoting retention and a more consistent client experience in the process
Five key roles for firms looking to scale effectively, from a visionary leader, to a 'rainmaker' who attracts new clients, to technicians who create advanced planning analyses

We wrap up with two final articles, all about advisor marketing:

The potential value for financial advisors of having "channel focus" in marketing, going all-in on a single marketing channel rather than inconsistently focusing on several tactics
A framework to help advisors develop their sales skills, even if they don’t see themselves as salespeople

Thanks for letting us be a part of your reading list each week, and we'll look forward to highlighting more insightful articles in 2026!

Weekend Reading For Financial Planners (December 27–28)

December 26, 2025 01:30 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 survey from Mergers and Acquisitions (M&A) consultancy DeVoe & Company finds that RIA leaders on the whole expect the already brisk pace of deal volume to increase in 2026, as (often private equity-backed) buyers find matches with sellers looking for external partners (who might be able to offer a premium valuation compared to internal successors). Notably, a strong majority of respondents who are looking to make an acquisition cited culture fit as the top characteristic they seek in a potential target (with talent coming in second), perhaps recognizing that successfully integrating an acquired firm is key to the success of a deal (e.g., in terms of client and employee retention). Nonetheless, internal successions do remain viable options for firms, according to the report, with the key to success being a willingness to start planning early to identify potential successors and to create a process and financing program that works for both parties.

Also in industry news this week:

The Securities and Exchange Commission (SEC) has issued a risk alert warning about missteps the regulator has identified regarding its marketing rule, particularly when it comes to making clear disclosures surrounding testimonials, endorsements, and third-party ratings and rankings
The SEC has signaled that it will allow a wide range of asset managers to offer dual-share-class funds, presenting potential fund-expense and tax-saving opportunities for advisors (and potentially raising questions for firms relying on mutual fund commission income)

From there, we have several articles on investment planning:

Morningstar's latest safe withdrawal rate figures ticked higher for those retiring in 2026, with spending flexibility allowing for even higher starting withdrawal rates
While retirement income strategies that rely on spending flexibility are often attractive for clients, explaining potential spending reductions in terms of both the potential dollar amount and the duration of reduced portfolio withdrawals could give clients a better understanding of the tradeoffs involved and avoid negative surprises down the line
Why the concept of sequence of returns isn't just about protecting against market declines early in retirement, but can also be an opportunity to (significantly) boost retirement withdrawals if a positive return sequence occurs

We also have a number of articles on practice management:

Why understanding a firm's capacity could be a more effective forward-looking metric than other measures of productivity
Given that a move 'upmarket' can introduce additional complexity and strain firm capacity, assessing firm infrastructure and fee models before making this move could lead to a more sustainable approach
Why evaluating and potentially revising a firm's internal processes could be more effective than defaulting to hiring a new employee when reaching capacity limitations

We wrap up with three final articles, all about cash flow management:

The value of evaluating the time/money tradeoffs involved when considering whether to take advantage of 'free' offers
How advisors can help clients recognize and address "lifestyle creep" to ensure their spending is aligned with their priorities (perhaps retire earlier than they might expect)
The value of conducting a subscription 'audit' to save time and mental bandwidth in a world of proliferating services charging recurring fees

Enjoy the 'light' reading!

Aligning Your Capital With What’s Important To You By Focusing On Where You PAY Attention: Kitces & Carl 180

December 25, 2025 07:02 am 0 Comments CATEGORY: Kitces & Carl Podcast

Traditionally, financial advisors have focused on managing a client's money to ensure their lifestyle is supported to and through retirement. Yet money is only one form of personal capital; clients can also draw on their energy, time, and attention. Because these resources are often pulled toward competing priorities, clients may find themselves aiming for one goal while unintentionally directing their resources elsewhere, which may create a disconnect between the client's stated priorities and how their capital is actually being used. Even with the best intentions, managing the many opportunities and demands on the different dimensions of a client's personal capital can create unintended misalignment. Yet devising a strategy to intentionally narrow one's focus to what matters most can yield incredible dividends, from peace of mind to increased time on what truly matters.

In this 180th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how advisors can help clients assess all of their uses of capital: Money, Energy, Time, and Attention. Among these, attention may be both the most powerful and scarce resource. Attention is uniquely fragmented in today's hyper-distracted world, and because it so often dictates where each form of capital flows, a client may internally hold certain values while their calendars and checkbooks reflect different ones.

When an advisor sees tension between a client's stated values and their lived ones, there may be opportunities for gentle nudges toward alignment. For example, if a core goal – such as not being a financial burden to their children – is secure, advisors can invite clients to consider what else matters, such as time spent with grandchildren or supporting adult children still establishing themselves. Giving clients permission to dream about what else is possible with their capital, and to spend their capital in those ways, can be incredibly powerful.

On a larger scale, this perspective offers a powerful reframing of the value of financial advice. Peace of mind, often seen as an intangible benefit of planning, may in fact be an 'attention dividend' that frees clients from the mental load of managing their finances and allowing them to focus their attention elsewhere. In this sense, advisors don't just save clients money or time; they also help clients reclaim attention and energy – intangible yet deeply valued resources. A client who once spent four hours each week monitoring markets might discover 11 more days each year to focus on other things that are more meaningful to them. Financial advice, in this view, becomes not only about wealth management but also about attention management!

Ultimately, this points toward a more human-centered model of advice – one rooted in empathy, presence, and personal alignment. In a world of endless options and technology solutions, the deeper value of advice lies in helping clients direct their attention toward what truly matters and uncover the misalignments between their stated values and their lived reality. Advisors who embrace this broader mandate – helping clients align all forms of capital with what they truly value – can strengthen their role into that of a trusted guide in an increasingly distracted world.

Why Taxable Custodial Accounts Are Better Than OBBBA “Trump Accounts” For Kids’ Savings

December 24, 2025 07:02 am 0 Comments CATEGORY: Taxes

One of the more surprising features of the One Big Beautiful Bill Act (OBBBA) of 2025 was the introduction of a new type of retirement account intended to be opened and contributed on behalf of minor children, which the law named the Trump Account (TA). Conceptually, the purpose of Trump Accounts is to give kids a head start on saving for retirement, and so many of the account's aspects mirror those of traditional IRAs; however, there are unique rules for TAs that take effect from birth through age 17.

For instance, TA contributions are generally limited to $5,000 per year (up to $2,500 of which can be from an employer). But certain organizations, including the Federal, state, and local governments and 501(c)(3) charitable organizations, can contribute additional funds (including an initial $1,000 'pilot' contribution by the Federal government for children born in the years 2025 through 2028). And while TA contributions from individuals are made on an after-tax basis, contributions from employers and government and charitable organizations are made pre-tax, giving the TA many of the same characteristics as a traditional IRA with a mix of pre-tax and after-tax funds. So, when funds are eventually withdrawn from the account – which (like IRAs) can only be done penalty-free after age 59 ½ without a specified exception – they're a mix of both tax-free (i.e., from after-tax contributions) and taxable dollars (from pre-tax contributions and investment growth over time).

The caveat, however, is that many of the issues that often make traditional IRAs problematic for their owners – including pre-tax dollars being taxed at ordinary income tax rates on withdrawal, Required Minimum Distributions (RMDs), and the "10-year rule" for most beneficiaries after the death of the account owner – also apply to TAs. And with the potential for TAs to be funded at a very early age and left to compound and grow for 60 years or more, it's possible that they'll eventually create the very same tax headaches in the future that owners of large traditional IRAs are dealing with today.

Thankfully, there are other vehicles available for parents to consider when giving funds to their kids. In addition to 529 plans (which can grow tax-free to be used for qualified higher education expenses), one option that worth exploring is a taxable custodial (e.g., UTMA or UGMA) account. Although taxable accounts don't receive tax-deferred treatment on investment income, that fact could actually turn out to be an advantage because of the "kiddie tax" rules, which allow up to $2,700 of qualified dividends and capital gains to be realized tax-free for dependent children. As a result, a custodial account could have significantly more "basis" than a TA at age 18 and beyond – meaning that the TA will end up generating more taxable income in the future (and be taxed at higher rates on that income due to the ordinary income treatment of gains upon withdrawal)!

One factor that could make TAs more favorable is the ability to convert TA funds to Roth, which could allow a TA owner to pay tax on the funds in their account at relatively low rates early in their career and allow them to grow tax-free thereafter. However, unless the owner has funds available outside of the account to pay the actual tax on the conversion, they'd need to withdraw from the account to pay that tax (and pay tax plus an early withdrawal penalty on that amount as well), significantly reducing the amount that's left in the Roth account to grow tax-free. Which means that even with the ability to convert to Roth, the taxable account could still come out ahead in the end (or at least not be so far behind as to be worth sacrificing the greater flexibility of the taxable account's funds to be used pre-retirement).

The key point is that when it comes to saving for kids, starting to save at an early age is far more important than what type of account those savings go into. While many illustrations of TAs project how their value can grow to eye-popping levels over time, the reality is that similar (or even better) results can be achieved in other types of accounts that have far more flexibility than TAs. And so while TAs can serve as a good conversation starter with parents who are interested in saving for their kids (and it may even be worth opening a TA just to receive the 'free' $1,000 pilot contribution if there's a child who is eligible for it), it may be best to involve other types of accounts in the discussion as well – since they could prove to be an as good or better option for growing a child's savings for the long term!

Specializing In (Sound) Income Sources For Retirees To Differentiate A $4 Billion Advisor Enterprise: #FASuccess Ep 469 With David Scranton

December 23, 2025 07:02 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 469th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is David Scranton. David is the CEO of Sound Income Group, an RIA based in Fort Lauderdale, Florida, that oversees approximately $4 billion in assets under management for 10,000 client households.

What's unique about David, though, is how he has built his business by standing out through his strategy of investing client assets in income-producing individual securities to produce a steady stream of income at a time when many advisors have taken a "total return" investment approach and build portfolios using mutual funds and ETFs.

In this episode, we talk in-depth about how David builds portfolios using a combination of what he calls "insured options" (such as bank CDs, government bonds, and fixed index annuities), "non-insured contractual securities" (such as individual bonds and preferred stocks), and "equity-oriented investments" (including business development companies, real estate investment trusts, and high-dividend stocks), why David prefers to invest in individual securities instead of investment funds both to control the exact securities he's investing in and to avoid forced liquidations when investors in a mutual fund sell at once, and how David finds that prospects are often receptive to this approach given the steady cash flow it generates without necessarily eating into principal to create retirement income (which has also led to greater client retention during market downturns).

We also talk about David's four keys for financial advisors to attract clients (which include having a point of differentiation as well as established branding, lead generation, and conversion processes), how David's focus on these keys shifted over time (from an emphasis on lead generation early on in his career to build a steady flow of prospects to branding now that he's leading an advisor enterprise), and how David has leveraged book-writing (with the assistance of professional ghostwriters and publishing firms) to further build his brand and generate greater familiarity with his ideal target clients.

And be certain to listen to the end, where David shares how he implements his investment approach by using two portfolio management tools (for trading and reporting, separately) and offers it to advisors who don't have the capacity to implement this approach themselves, how David was able to overcome his previously overly analytical nature to be able to focus on the bigger picture of running his business, and how David has found that narrowing in on a specialization has ultimately (and perhaps counterintuitively) allowed him to serve more families than he might have taking a more generalist approach.

So, whether you're interested in learning about what it takes to implement an income-based investment strategy, attracting more prospects by showing how your firm is ‘different', or how to build your brand by authoring books, then we hope you enjoy this episode of the Financial Advisor Success podcast, with David Scranton.

2025 Highlights – The Top 22 Nerd’s Eye View Blog Posts You Might Have Missed

December 22, 2025 07:02 am 0 Comments CATEGORY: Nerd's Eye View

As 2025 comes to a close, it is a time of reflection on the year… and leaves me so thankful once again to all of you, the ever-growing number of readers who continue to regularly visit this Nerd's Eye View Blog (and share the content with your friends and colleagues, which we greatly appreciate!).

We recognize (and appreciate!) that this blog – its articles and podcasts – is a regular habit for tens of thousands of advisors… and that the sheer length of our articles and podcasts means that not everyone has the time or opportunity to read every blog post or listen to every podcast that is released throughout the year. Nor do we expect everyone to read and listen to everything – thus why we make the titles and headlines as clear as possible, so you can decide for yourself what to invest your time into (and skip the rest)! However, this does mean that an article once missed is often never seen again, 'overwritten' (or at least bumped out of your inbox!) by the next day's, week's, and month's worth of content that comes along.

Accordingly, just as we did last year, and in 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, and 2014, we've compiled for you this Highlights List of our top 22 articles in 2025 that you might have missed, along with a few of our most popular episodes of 'Kitces & Carl' and the 'Financial Advisor Success' podcasts. So whether you're new to the blog – and #FASuccess (and Kitces & Carl) podcasts –and haven't searched through the Archives yet, or simply haven't had the time to keep up with everything, I hope that some of these will (still) be useful for you! And, as always, I hope you'll also take a moment to share podcast episodes and articles of interest with your friends and colleagues!

Don't miss our Annual Guides as well – including our list of the 17 Best Financial Advisor Conferences To Attend in 2026, the ever-popular annual 2025 Reading List of Best Books For Financial Advisors, and our increasingly popular Financial Advisor "FinTech" Solutions Map and AdvisorTech Directory!

In the meantime, I hope you're having a safe and happy holiday season. Thanks again for the opportunity to serve you in 2025, and I hope you enjoy all the new features and resources we'll be rolling out in 2026 (and beyond!), too! Stay tuned for our State-of-the-Blog update in January with more details of what's to come!

Weekend Reading For Financial Planners (December 20–21)

December 19, 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 report from The Ensemble Practice finds that advisory firms are predominantly hiring and developing newer advisor talent rather than directly hiring experienced advisors. While there are several reasons why firms might want to do so (from a newer hire being a 'blank slate' that the firm can train on its service model and culture to their relatively lower compensation requirements), the report notes that hiring established advisors comes with its own advantages (from the ability to serve clients and generate revenue soon after being hired to the fresh ideas they might bring to the business from their previous firms). Notably, though, this is not an either/or choice for firms and some might choose to evaluate their current talent pipeline and assess whether they could benefit most from 'drafting' developmental talent or adding a seasoned 'free agent' for their next hire!

Also in industry news this week:

Research from Cerulli Associates finds that multi-advisor teams studied have hire average per-client AUM and offer more services than solo advisors and are supported by deeper service teams (though creating and managing advisor teams can come with added complexity compared to the [supported] solo model)
The SEC in the coming year is planning to pay close attention to firms engaged in merger and acquisition activity and those using alternative investments in client portfolios to ensure firms are providing sufficient disclosures and are abiding by their fiduciary responsibilities

From there, we have several articles on investment planning:

An analysis of whether investors are facing the prospect of an Artificial Intelligence (AI)-fueled bubble as well as the potential short- and long-term impacts of rapidly growing investments in AI
A look into previous market cycles and current valuations suggests that the current bull market could have additional room to run (though negative earnings surprises or other factors could still lead to a downward turn)
How advisors can help nervous clients feel empowered amidst concerns that a potential AI-fueled bubble could lead a dramatic market downturn, from reconfirming a match between their asset allocation and liquidity needs as well as taking advantage of portfolio rebalancing opportunities (including potential tax savings from donating highly appreciated positions)

We also have a number of articles on advisor marketing:

A guide for creating a quarterly tactical marketing plan that can help an advisory firm stay on track to meet its annual client growth goals
How breaking down marketing goals into weekly 'chunks' can provide small 'wins' that build momentum (and keep an advisor accountable) on the path to achieving longer-term targets
Key Performance Indicators (KPIs) that advisory firms can use to determine which of their marketing tactics are performing the best and which they might stop doing

We wrap up with three final articles, all about health:

A study finds that office workers who employ a prescribed sit-stand ratio during the day can potentially experience productivity gains and less stress
How one study finds that the mood benefits of drinking caffeinated beverages are particularly acute soon after waking up
Why getting out into the sunlight early in the day can potentially improve an individual's sleep patterns and overall health

Enjoy the 'light' reading!

Helping Underspenders And “Savers” Understand They CAN Spend More With 4 Stages Of “Experiments”

December 17, 2025 07:02 am 0 Comments CATEGORY: Financial Psychology

Many financial planning clients have spent much of their adult lives saving. Self-discipline and restraint may be key traits in building wealth, but when clients enter a phase of life where spending is more appropriate, they can hit a roadblock. Even when their plans support discretionary spending and they express a desire for it, they may find themselves unable to act. For advisors, this can be perplexing – and even frustrating! – when the numbers say "yes" but the client still says "no." However, underspending is rarely a purely financial issue. Instead, it's often shaped by deeply rooted values, personal identities, and psychological barriers. Understanding the reasons behind why clients underspend is essential not only for preserving client trust but also for supporting a more holistic, values-aligned use of wealth.

In this article, Meghaan Lurtz, behavioral finance expert and partner at Shaping Wealth, describes the psychological barriers that hold clients back and how advisors can gently help them experiment with spending more. By framing expenditures as low-stakes trials, advisors can help clients discover which expenditures truly add value – and which do not.

Common barriers include fear of future dependence ("What if I need this money later?"), doom forecasting (catastrophizing about worst-case scenarios), and a fixed saver identity that makes spending feel like betrayal. These patterns are reinforced by behavioral biases such as loss aversion and poor emotional forecasting. Even joyful experiences, like a family vacation, may be overshadowed by the psychological 'cost' of seeing account balances drop, making it challenging for clients to spend even when they logically know that they can.

To address these barriers without undermining client agency or triggering defensive reactions, advisors can reframe spending as an experiment. These experiments are low-stakes, time-bound, and designed to generate feedback. This shifts the focus from identity ("I'm a spender now") to curiosity ("Let's see how this feels"). For instance, rather than recommending a wholesale shift to luxury travel, an advisor might suggest trying business class once on a meaningful trip. Clients gather 'emotional data' from the experience, which can then guide future decisions. Advisors support the process by designing the experiment, encouraging participation, facilitating a thoughtful debrief to separate value from extravagance, and aligning the results with the client's self-image as a responsible steward of wealth.

This iterative, feedback-driven process can be transformative. Experiments give clients permission to try new behaviors while preserving their sense of responsibility around money. Over time, these conversations shift spending from a moral referendum to a learning opportunity, helping clients clarify what truly brings joy and meaning. As clients build confidence in their ability to use money in ways that reflect their values and enhance their lives, they often become more open to further experiments, deepening both their financial well-being and their relationship with their advisor.

Ultimately, underspending isn't solved by pushing clients to spend more. It's about helping them align their money with the life they want – whether that means spending, giving, or simply feeling free to explore what's possible. By framing spending as experimentation, advisors can offer clients a safe, low-stakes way to test new behaviors, learn from the results, and ultimately unlock greater satisfaction and purpose. The shift from static planning to dynamic experimentation empowers clients to confidently align their wealth with what matters most!

Navigating Accelerated Succession When Cancer Forces An Early Retirement: #FASuccess Ep 468 With Kay Dee Cole

December 16, 2025 07:01 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 468th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Kay Dee Cole. Kay Dee is the founder of Clarity Wealth Development, an RIA based in Corvallis, Oregon, that oversees approximately $200 million in assets under management for 220 client households.

What's unique about Kay Dee, though, is how she has navigated an accelerated succession plan within a growing firm after experiencing a recurrence of cancer and deciding to transition away from the business.

In this episode, we talk in-depth about how Kay Dee initially sold a minority stake in her firm (using a seller-financed loan) to her Chief Operating Officer (who had taken many aspects of running the business off of Kay Dee's plate) with plans to increase the stake over time, how Kay Dee's cancer recurrence has led her to speed up the equity transition, with her planning to give other firm employees the chance to buy in as well, and how Kay Dee is thinking through whether to hold on to the seller-financed loans (which could create stress by continuing to tie her to the business and its success even though she's retired) and how this decision will impact her own finances.

We also talk about how Kay Dee initiated a four-meeting process to transfer her clients to other advisors in her firm (with a senior advisor leading the first meeting and giving the other advisor an increasing role until they are ready to lead the relationship), how Kay Dee and other “first chair” advisors have regular one-on-ones with more junior advisors throughout this transition process to review previous client meetings and to game plan together for the next one (allowing both sides to gauge the junior advisor's readiness to take on more responsibility), and how Kay Dee communicated this advisor transition plan to clients and made them aware of her condition and plans to retire (only losing a few clients [who were likely planning to leave anyway] in the process).

And be certain to listen to the end, where Kay Dee shares how her firm has created four client segments based on AUM to ensure the level of service being provided (for instance, number of meetings per year or the seniority of advisor they're working with) is in line with the fees they pay (helping it double its AUM to $200 million in 5 years), how Kay Dee's adoption of the Entrepreneurial Operating System and its principles has helped her build more durable structures for her firm (amidst the ongoing transition) and open up lines of communication with her partner and employees, and how Kay Dee has found success in part by prioritizing in-person interactions with fellow advisors and industry professionals (whether at conferences or informally for coffee chats), allowing her to gain new insights and build relationships in a way that's harder to replicate in an online environment.

So, whether you're interested in learning about creating an adaptable succession plan to prepare for unforeseen circumstances, transitioning clients to new advisors while maintaining high retention, or segmenting clients into different service models to ensure profitability, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Kay Dee Cole.