Episode 101: This week, Kyle Van Pelt talks with Nelly Mubashi, CEO of Northwest Asset Management and RIA Innovations. They discuss how advisors can build their own RIA easily and confidently. Nelly also shares her remarkable journey from receptionist to CEO, the importance of culture in growing a company, and how Northwest Asset Management and RIA Innovations can be the launchpad for advisors going independent.

In this episode:

(00:00) - Intro

(01:50) - Nelly's money moment

(07:16) - Why Nelly chose the RIA space over larger firms

(08:42) - Launching an RIA in the middle of the 2008 financial crisis

(10:26) - Maintaining company culture across a growing, remote team

(13:25) - Why Nelly offers à la carte services instead of a one-size-fits-all model

(15:19) - Designing the tech stack at Northwest Asset Management

( 17:59) - Integrating technology across platforms without chaos

(20:35) - Making sense of business data in a multi-platform world

(23:36) - The ideal advisor fit for Northwest Asset Management

(25:53) - How the firm attracts and retains breakaway advisors

(28:27) - What’s next for RIAs: trends, predictions, and a trust company

(32:59) - Nelly's Milemarker Minute

(35:38) - Nelly’s “why” for founding Northwest Asset Management

Key Takeaways

Breaking away from a big firm doesn’t mean sacrificing service or professionalism. Advisors often fear that going independent means a downgrade in service or technology. But with the right support model—like the one Nelly has built—advisors can maintain (or even enhance) client experience while gaining freedom and flexibility.

Culture is a competitive advantage, even in a remote-first environment. As firms scale and spread out geographically, intentional communication, responsiveness from leadership, and regular team engagement are essential to maintaining a strong, connected culture that supports both staff and advisors.

One-size-fits-all platforms limit advisor growth—flexibility is key. Offering à la carte services gives advisors the ability to build the business that works best for them. By avoiding rigid packages and letting advisors customize what they outsource, firms can better serve a wider range of needs and goals.

Technology should empower—not complicate—advisor independence. Having a curated but flexible tech stack, paired with an experienced ops team, allows advisors to plug in and focus on clients instead of platforms. Integration and data visibility across systems are essential to scale effectively without losing clarity.

Quotes

"We're looking for advisors who are simple. They don't take a lot of risk, are easy to manage, and their clients can be scaled up." ~ Nelly Mubashi

"When thinking about our services, we're making sure that we are providing the highest level of service and the highest level of technology so that advisors have that great experience. They don't feel like they're getting downgraded because you know they're moving to a small RIA." ~ Nelly Mubashi

"I want to make sure that advisors have a platform where they feel comfortable and don't feel too small for someone to pay attention to them." ~ Nelly Mubashi

Links 

Nelly Mubashi on LinkedIn

Northwest Asset Management

RIA Innovations

U.S. Bank

Piper Jaffray (now Piper Sandler)

UBS

Charles Schwab

Fidelity Investments

Tamarac

Orion Advisor Solutions

eMoney Advisor

Envestnet | MoneyGuide

Holistiplan

Nitrogen

SS&C Salentica

Start with Why by Simon Sinek

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

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