Matthew Marcoux and John Kennedy are the Co-Founders of CandorPath Financial and Certified Financial Planners. Matthew has been serving clients for the past 19 years and  is an Enrolled Agent who specializes in tax planning and investment. John is driven by a passion to help others. While pursuing his education at the University of Central Florida, John decided he was going to align his passion and profession by immersing himself in the world of financial planning.

 

In 2018, John and Matthew left their previous company and founded CandorPath Financial, a fee-based ensemble wealth management practice serving clients in their accumulation years. While Matthew focuses on the retirement plans for the business, John guides others towards their vision for financial success. John and Matthew have different skill sets and strengths that support one another, but together, they have learned the value of teamwork and collaboration in successfully serving other people.

 

John and Matthew join me today to discuss what led them to co-found CandorPath and the most significant challenges they faced after starting the company. We discuss the different kinds of wealth management practices and the uniqueness of an ensemble practice. They explain why they chose to implement an ensemble approach and how they transitioned from the silo work culture to the ensemble approach. They also underscore how leveraging social media to connect and communicate impacted their relationships with existing clients.

 

“In an ensemble, you have to know whether you can trust and work with somebody and that you can fit together despite having different strengths.” - John Kennedy

 

This week on The Model FA Podcast:

 

• What “solo” and “silo” practices are
• What makes an “ensemble” type of practice unique
• Why business partners should take the Enneagram test and other personality assessments
• The challenges of transitioning from a silo work culture to an ensemble
• Why John and Matthew hired a coach right after co-founding CandorPath
• Training clients to be comfortable with the idea of working with an ensemble of advisors
• The value of outsourcing and why John and Matthew decided to hire a virtual assistant
• Evaluating what tasks need to be automated, delegated, or deleted
• The importance of energy audits and creating ideal client relationships
• The difference between running a business and running a financial practice
• The power of using social media as means of communication to reach existing clients
• How creating social media content assists in qualifying the ideal client
• How applying the ideas of Traction impacted the growth of CandorPath
• Key lessons from the book Rocket Fuel, and why every business should have a visionary and an integrator

 

Resources Mentioned:

 

• Enneagram Test
• Ensemble Practice: A Team-Based Approach to Building a Superior Wealth Management Firm by P. Palaveev
• Traction: Get a Grip on Your Business by Gino Wickman
• Rocket Fuel: The One Essential Combination That Will Get You More of What You Want from Your Business by Gino Wickman
• The Dream Manager by Matthew Kelly

 

Our Favorite Quotes:

 

• “Anything that is in your zone of competence or zone of incompetence should be automated, delegated, or deleted.” - David DeCelle
• “Conforming may be a short-term pain for long-term success but it’s truly about working together to achieve common goals for the client.” - John Kennedy
• “Clients love the personal stuff. They’re like family and want to see what we’re like outside of the business environment as financial advisors.” - Matthew Marcoux
• “To comfortably hire someone, you need to know what it is that you want to do with the time that person will free up.” David DeCelle

 

Connect with John Kennedy:

 

• Email: [email protected]
• John Kennedy on LinkedIn
• John Kennedy on Instagram

 

Connect with Matthew Marcoux:

 

• Email: [email protected]
• Matthew Marcoux on LinkedIn

 

Connect with CandorPath Financial:

 

• CandorPath Financial
• Email: [email protected]
• CandorPath Financial on LinkedIn
• CandorPath Financial on Facebook
• CandorPath Financial on Twitter

 

About the Model FA Podcast

 

The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes  to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams. 

 

Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. 

 

Our Team:

President of Model FA, David DeCelle

 

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