Episode 095: This week, Kyle Van Pelt talks with Jimmy Lee. Jimmy is the Founder and CEO of The Wealth Consulting Group. A longtime Las Vegas resident and industry veteran, he champions a holistic, client-first approach to wealth management, blending financial planning, investment strategy, and innovative technology to serve as a personal CFO for his clients.

Jimmy shares his early experiences in the brokerage industry and how his perspective shifted towards a more holistic, client-centric approach. He also discusses what it means to serve clients as their personal CFO and how his firm approaches advisor support, succession planning, and scalability.

In this episode:

(00:00) - Intro

(01:57) - Jimmy's money moment

(05:35) - How Jimmy became part of Las Vegas' transformation

(09:43) - Fee compression vs. service expansion

(14:24) - Acting as a client’s CFO vs a traditional family office

(18:14) - How to scale high-touch, comprehensive financial services

(22:13) - Staying ahead of technology shifts in the advisory industry

(24:53) - How The Wealth Consulting Group stays competitive and future-ready

(28:49) - Building a platform that empowers and supports independent advisors

(34:43) - Jimmy’s transition from advisor to CEO—and the lessons learned

(38:59) - The biggest trends reshaping the future of financial services

(49:29) - Jimmy's Milemarker Minute

Key Takeaways

Clients want more than investment advice—they want guidance on taxes, estate planning, health, and lifestyle.

Succession planning is human planning: a well-thought-out succession plan is not just about the business, it's about people.

Independent advisors may crave autonomy, but they still need back-office support, tech integration, and compliance infrastructure. The right platform can offer both freedom and scale.

Portfolio management alone isn't enough. Comprehensive services, like tax, trust, and succession planning, are becoming table stakes for high-net-worth clients.

Quotes

"The personal CFO concept, to me, is proactively helping clients accomplish their financial goals. And a lot of times, it's not about the portfolio." ~ Jimmy Lee

"The best financial advisors get a lot of knowledge about the individual or family situation. Working with advisors sometimes means finding out things about their personal lives sooner than other very close family members do." ~ Jimmy Lee

"Our goal is for our clients to call us about any issue regarding their money or financial situation, whether it's something that we could directly handle or not." ~ Jimmy Lee

"Five or 10 years from now, it's going to be table stakes to be able to provide a more holistic approach and at least be able to offer that. And if you can't do that in-house, you better be really good as an advisor, having those referral relationships tied up so that you can still offer the service and make it seem like a seamless experience." ~ Jimmy Lee

Links 

Jimmy Lee on LinkedIn

The Wealth Consulting Group

Merrill Lynch

MassMutual

Zappos

Michael Kitces

Wealth.com

LPL Financial 

Charles Schwab

McKinsey

Simple Wealth, Inevitable Wealth

Serious Money

The Excellent Investment Advisor

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

Subscribe and stay in touch

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Spotify

YouTube

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