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How Financial Advisors Can Grow Beyond Being Accidental Business Owners

Mike Langford
Apr 29, 2022


One of the things that I've become pseudo famous for saying on the podcast is that many of today's financial advisors got their start as stockbrokers. One of the side effects of that starting position, according to Robert Russo, CEO of Independent Advisor Alliance, is that advisors often tend to be accidental business owners.

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As you'll hear Robert explain in this episode of The Modern Financial Advisor Podcast, the key to a financial advisor making the transition from "accidental business owner" to an owner of a high-performing wealth management firm is learning to leverage other high-performing professionals.  

Subscribe to the Podcast! The Modern Financial Advisor Podcast is available on Apple PodcastsSpotifyGoogle PodcastsAlexa, SoundCloudStitcherTuneIn, or if you prefer video you can find it on YouTube.

Resources Related to this Episode:
Below is a list of resources mentioned in this episode or related to the topics we discussed: 

  • What Younger Investors Expect Of Their Financial Advisors - As I mentioned toward the tail end of the podcast, I find it inspiring that Robert and other leaders such as Natalie Wolfsen, CEO of AssetMark are so willing to share what they've learned with the wider industry.
  • Benchmark Your Business - Whether you are still in the "accidental business owner" zone or you have leveled up to an owner of a thriving wealth management firm, it is always smart to see how your business benchmarks against others in its peer group.  
  • How Financial Advisors Can Become Their Own Wealthiest Client - A big part of navigating the transition from "accidental business owner" is starting the think and behave like a "business owner". Meaning, someone who thinks of the business as a separate, profit-generating entity.
If you have any questions, comments, or even ideas for new episodes, feel free to reach out. If you like what you hear, make sure to subscribe to one of our channels listed above.
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