RIA Edge

RIA Edge Podcast: The Power of Specialization with Andrew Leonard


Listen Later

In this episode of the RIA Edge Podcast, host David Armstrong chats with Andrew Leonard, founder and partner at Geometric Wealth Advisors, about how the firm has rapidly grown to over $1 billion in AUM since Leonard founded it by catering to a specific client niche: executives working inside large consulting firms like McKinsey, Bain, and BCG. 

In fact, many of its advisors, as well as the firm’s chief operating officer, come from those same firms. Geometric Wealth’s advantage is a deep understanding of the internal resources, career paths and investment plans available to its clients, as well as the professional trajectories and personalities of those who work there. By focusing on such a narrow pool of prospects, the firm ironically brings in twice as many referrals as it can onboard annually—a capacity problem, not a growth problem. 

Leonard talks about how the niche focus drives most strategic decisions at the firm. That includes a commitment to 100% remote work, the firm’s business development strategy (and how “marketing” looks very different when focusing on a specific niche) and the commitment to remaining an employee-owned partnership with no outside investor taking ownership.

Leonard also discusses:

  • The benefit of hiring career-changers from the same consulting firms where they prospect for clients, and the advantages that brings in terms of subject-matter expertise and new client referrals. 
  • Why he made the decision five years ago, as a much smaller firm, to bring not just tax planning, but tax preparation in-house and the difference that has made for his clients (many with unique tax situations that come with the partnership arrangements of the consulting firms).
  • Resources:

    • RIA Edge Podcast
    • Connect With David Armstrong:

      • WealthManagement.com
      • LinkedIn: WealthManagment.com
      • LinkedIn: David Armstrong
      • Twitter: David Armstrong
      • LinkedIn: Informa
      • Connect With Andrew Leonard:

        • Geometric Wealth Advisors
        • LinkedIn: Geometric Wealth Advisors
        • LinkedIn: Andrew Leonard
        • About Our Guest:

          Andrew founded Geometric Wealth Advisors in 2015.  He spent the prior eight years as a Partner with Classic Capital, where he served as a Wealth Advisor for high net worth families and individuals.  He sold his stake in Classic to build a firm devoted entirely to serving his peers. Andrew lives in Washington, D.C., with his wife, Shelley, and daughters, Eve and Brooke.

          ...more
          View all episodesView all episodes
          Download on the App Store

          RIA EdgeBy David Armstrong

          • 4.9
          • 4.9
          • 4.9
          • 4.9
          • 4.9

          4.9

          9 ratings


          More shows like RIA Edge

          View all
          Masters in Business by Bloomberg

          Masters in Business

          2,173 Listeners

          The Meb Faber Show - Better Investing by The Idea Farm

          The Meb Faber Show - Better Investing

          932 Listeners

          Founders by David Senra

          Founders

          1,807 Listeners

          Capital Allocators – Inside the Institutional Investment Industry by Ted Seides – Allocator and Asset Management Expert

          Capital Allocators – Inside the Institutional Investment Industry

          808 Listeners

          The Diamond Podcast for Financial Advisors by Mindy Diamond Financial Advisor Recruiter and Consultant

          The Diamond Podcast for Financial Advisors

          99 Listeners

          Animal Spirits Podcast by The Compound

          Animal Spirits Podcast

          2,001 Listeners

          The Perfect RIA by Matthew Jarvis, CFP® & Micah Shilanski, CFP®

          The Perfect RIA

          459 Listeners

          The Compound and Friends by The Compound

          The Compound and Friends

          2,043 Listeners

          Kitces and Carl - Real Talk for Real Financial Advisors by Michael Kitces, MSFS, MTAX, CFP and Carl Richards, CFP

          Kitces and Carl - Real Talk for Real Financial Advisors

          225 Listeners

          All-In with Chamath, Jason, Sacks & Friedberg by All-In Podcast, LLC

          All-In with Chamath, Jason, Sacks & Friedberg

          8,719 Listeners

          Barron's Advisor by Barron's Advisor

          Barron's Advisor

          105 Listeners

          The Efficient Advisor: Tactical Business Advice for Financial Planners by Libby Greiwe

          The Efficient Advisor: Tactical Business Advice for Financial Planners

          112 Listeners

          Facts vs Feelings with Ryan Detrick & Sonu Varghese by Carson Investment Research

          Facts vs Feelings with Ryan Detrick & Sonu Varghese

          41 Listeners

          The Morgan Housel Podcast by Morgan Housel

          The Morgan Housel Podcast

          1,003 Listeners

          RIA+ by Mark Bruno

          RIA+

          1 Listeners