The COO Roundtable

By Coldstream Wealth ManagmentBusiness Education Arts

The COO Roundtable episodes

December 03, 2025Episode 81: Jason Mirabella and Randy Lambert
Matt is joined by industry veterans Jason Mirabella and Randy Lambert for Episode 81. Jason returns for his second appearance, having first joined Episode 37 nearly four years ago. Randy, the former COO of Orion, brings decades of experience after spending 30 years building and scaling one of the industry's leading organizations. Now, Jason and Randy have teamed up at Intention.ly to launch a new operational consulting arm, specifically designed to tackle the unique operational and growth challenges faced by RIAs and the fintechs that serve them. Together, Matt, Jason, and Randy dive into topics including:
The complexity of scale and why it’s important to “keep score”
How growing firms can remain “quick and nimble” instead of becoming “bloated and slow” as they transition into enterprises
The fundamental differences between a Director of Operations and a Chief Operating Officer, and how to determine which role your firm needs
Why change is so hard for organizations to navigate, and how COOs can become true change agents
Will AI replace the traditional CRM, or make it even more powerful?
How the COO role is evolving and what to expect going forward
49 min
November 05, 2025Episode 80: Linda Bready
In this episode, Matt sits down with Linda Bready, a renowned operations consultant to RIAs and author of the new book, The Exit Equation – M&A Strategies, Tools, and Insights for Financial Advisors. What started as a guide for sellers preparing for mergers or acquisitions, Linda’s book reveals itself as a comprehensive blueprint for operational readiness. It’s packed with practical strategies that empower firms to run more profitably and efficiently, whether or not a sale is on the horizon. As Linda writes, “a well-run firm isn’t just easier to sell, it’s easier to grow, scale, and live with.”
Linda’s expertise is extensive. She was a trailblazer in the field of RIA performance reporting during her 17 years running B-Ready Outsourcing Solutions, which she led until its acquisition by Envestnet in 2010. After serving in a leadership role at Envestnet for six years, Linda became Executive Vice President of Operations & Client Service at FolioDynamix―until, in a twist of fate, Envestnet acquired FolioDynamix in 2018. Today, Linda is back in the consulting sphere as the founder of CleverX Consulting, where she delivers fractional executive support and board-level insight to financial services firms and fintech innovators.
During this far-reaching conversation, Matt and Linda discuss her new book and a wide range of RIA operations and technology topics, including:
Why so many RIAs struggle with operational efficiencies
The common pitfall: mistaking technology ownership with technology optimization
Why now is the time for RIAs to focus on scalability and repeatability across their organizations
The critical role of culture and why it’s so often overlooked in M&A transactions
Strategies for effective change management
Why not all AUM is created equal
Overcoming the reluctance to document workflows and processes
The power of client segmentation and why understanding the true cost to serve each client is more important than focusing solely on top-line revenue
To learn more about how Linda works with advisors and operations professionals, please visit https://www.cleverxconsulting.com/
To purchase Linda’s amazing book, click here.
55 min
October 01, 2025Episode 79: Morgan Bell & Lisa Crafford
In Episode 79, Matt welcomes two long-time friends and industry experts: Lisa Crafford and Morgan Bell of Constellation Wealth Capital (“CWC”). CWC is a Chicago-based private equity firm founded in 2023 that specializes in making minority investments in growth-oriented wealth management firms across the United States. Lisa and Morgan first met at BNY Mellon Pershing, while consulting for RIAs. Today, Lisa serves as Managing Director, Head of Advisory, and Morgan leads technology consulting at CWC. Matt has long considered both Morgan and Lisa fellow “operations nerds,” and has enjoyed collaborating with them on content aimed at helping operations professionals run better firms. After sharing their career stories, the conversation dives into:
The evolution of the COO role as the wealth management industry matures
The need for leadership and next generation training in the industry, and how Lisa and Morgan addressed these needs – both historically and now at CWC
Solving the complex puzzle of building a scalable, efficient, and integrated tech stack
Where the COO is headed in the next five years
Common mistakes firms make, and how to avoid them at your RIA
Advice for first-time COOs and for RIAs hiring their first COO
And, of course, a short tribute to Mark Tibergien’s immense impact on our industry
The article, “The Importance of Strategy and How a COO Can Help” can be found here.
48 min
September 03, 2025Episode 78: Eric Stephenson & Shelly Kapoor
Episode 78 dives deep into a challenge many COOs contend with on a daily basis: mastering M&A integration. Matt hosts a dynamic discussion with two former COOs who have recently stepped into groundbreaking roles focused exclusively on business integration: Eric Stephenson and Shelly Kapoor.
Eric is Managing Director of Integration and Optimization at Pathstone, a firm spanning 22 office locations, 800 employees, and managing over $100 billion of assets for clients. Shelly is a colleague of Matt’s at Coldstream, where she has taken on the new role of Manager of Business Integration. Coldstream now has approximately $13 billion of AUA, eight office locations, and more than 200 employees. Eric and Shelly explain how they leverage their varied experiences as COOs in their integration work, as well as:
How their new roles extend beyond traditional M&A integration work
Their firms’ unique philosophies and approach to M&A
Why the human side of integration and change management remains the greatest challenge
The critical role of technology in supporting seamless integration
Essential advice for COOs considering or transitioning into dedicated integration roles
The article, “Growing RIAs Must Focus on Process, Not Technology” can be found here.
38 min
August 06, 2025Episode 77: Brad Cox and Michael Walliser
Episode 77 finds Matt interviewing two seasoned RIA operators: Brad Cox and Michael Walliser, for an insightful conversation on growth, technology, and collaboration in the wealth management industry. Brad is COO, CCO, and Partner at Diversified Portfolios, Inc., based in Bloomfield Hills, Michigan. The firm was founded in 1993 and has grown to approximately $1.8 billion of client assets, with a team of 19 employees. Michael serves as President and CCO at Condor Capital Wealth Management in Martinsville, New Jersey. Established in 1988, Condor Capital oversees about $2 billion for clients and employs 28 professionals. In this episode, Brad and Michael discuss their 32-year-old study group, the Council of Independent Financial Advisors (“CIFA”), as well as:
How to structure your study group to ensure each member gains the most from it
The processes at each of their firms that have needed to change as their firms have grown
The pros and cons of building a “best-of-breed” technology stack vs. adopting an “all-in-one” solution
Both guests’ approach to AI and how they have implemented it to enhance client service and streamline operations at their firms
What cybersecurity tools and protocols both firms use to protect sensitive employee and client data
To learn more about the Council of Independent Financial Advisors (“CIFA”), please visit: https://www.katiecalaguiconsulting.com/council-of-independent-financial-advisors
42 min
May 21, 2025Episode 76: Tony Cox & Whitney Imeraj
We are excited to return to our traditional interview format for Episode 76, but this time with a twist! For the first time, we are interviewing an RIA who is actively searching for a Chief Operating Officer. In this episode, we delve into the responsibilities they envision for their new COO, once hired.
Sage Mountain Advisors, founded in 2018 out of Goldman Sachs, has experienced remarkable growth. Starting with just six employees, the firm has expanded to 25 employees, managing approximately $5.5 billion for their clients. To date, the COO role has been filled by Whitney Imeraj, IACCP®, who also serves as the CCO and Partner of the firm. Whitney has shared many operational duties with Tony Cox, Co-Founder, President, and Chief Investment Officer.
In this episode, Whitney, Tony, and Matt discuss why Sage Mountain believes it is the right time to bring in a new COO, as well as:
How they are conducting their COO search process
The “Technology and Innovation” components of the new COO’s job
How they hope the new COO will impact “Team Leadership and Culture Building”
Where Whitney sees the candidate driving “Operational Leadership”
What direction Tony sees the COO taking “Strategic Growth and Vision”
The “Compliance and Risk Management” responsibilities the new role will encompass
How Sage Mountain plans to engage in M&A, and the expected impact of the new COO on these goals
Other key areas of the firm beyond Technology, HR, Business Administration, and M&A that the new COO will hopefully influence
To apply for this role and/or to see what a comprehensive COO job description looks like, please see Sage Mountain Advisors’ job posting here.
You can read Matt’s recent article, Smart Hiring for RIAs: Aligning Talent with Team Needs
38 min
April 23, 2025Episode 75: Why AI Is Not Your Top Tech Priority
In the midst of volatile markets and a bustling tax season, Matt faced a unique challenge for Episode 75: he was unable to secure guests for the show. Rather than skipping an episode, he opted for a second monologue in a row, a format he typically reserves for special occasions. While he prefers to spotlight those leading operations at their firms, he chose a topic that resonates deeply with our listeners: leveraging technology to enhance the experiences of both teammates and clients.
Drawing on insights from his recent panel at the RIA Edge Nashville conference, titled Crafting a Memorable Client Experience With WealthTech, and his latest article, Why AI Isn’t Your RIA’s Top Technology Priority, Matt delves into the current landscape of RIA technology. He provides a thoughtful analysis on how to construct a tech strategy that underscores your firm’s value proposition for your ideal clients. Additionally, he discusses Matt Beecher’s compelling article, The Tech You Use Doesn’t Matter, along with several of his own writings on RIA technology.
Key Takeaways from the Episode:
Clients expect advisors to use technology to manage their assets and enhance their relationships, not to provide DIY investment tools.
The client experience should prioritize human interaction, augmented by technology, rather than replacing personal connection by placing technology in the hands of the client.
Many RIAs fall into the trap of adopting new technology without fully understanding its impact ― an “Impact Filter” can help prevent “Shiny Object Syndrome.”
Focus on core technologies that support daily operations (like CRM and portfolio management) and use satellite tools (such as AI analytics) as enhancements that align with firm goals.
Many RIAs struggle with insufficient, misaligned, or excessive technology, making it essential to address foundational issues before tackling advanced solutions like AI.
While AI offers exciting opportunities, it shouldn't take precedence over resolving core technology challenges.
Ultimately, clients value personal support and confidence in their financial journeys more than the intricacies of an RIA’s tech stack.
We hope you enjoy, share, and subscribe.
Resources:
Matt’s recent article can be found here: Why AI Isn’t Your RIA’s Top Technology Priority
Matt Beecher’s article can be found here: The Tech You Use Doesn’t Matter
Matt’s article High Tech vs. High Touch: What Are Clients Really Asking For? can be found here.
Matt’s article RIAs That Excel at Technology Do Not Look Like Tech Firms can be found here.
Matt’s article Identify Your Ideal Client Before You Determine Your Tech Stack can be found here.
Matt’s article RIAs Are Struggling With Too Much Technology, Not Too Little can be found here.
27 min
March 05, 2025Episode 74: The Importance of Client Segmentation
In Episode 74, Matt steps away from our usual interview format to share a vital message that could reshape how you approach your business. Drawing insights from his recent article in RIABiz, titled, How Fiduciary Duty Is Causing Confused Advisors to Run Bad Businesses, he dives deep into the crucial themes of firm capacity and RIA scalability. The primary function of a COO is to strategically allocate resources -- both human and technological -- across an expanding client base in a way that ensures every client experiences white glove service. In Matt’s mind, success as a COO hinges on a maniacal focus on Client Segmentation. Because we are all constrained by the fact that there are only 24 hours in a day, if an RIA is overly focused on providing extensive services to smaller clients, it stands to reason that larger clients may be underserved. This imbalance not only affects client satisfaction but also undermines business growth. In this enlightening episode, Matt addresses a common issue: many advisors and RIA owners are misinterpreting the concept of Fiduciary Duty, leading to poor client segmentation practices. Here are the key takeaways:
Two major misconceptions about Client Segmentation
The four primary benefits of Client Segmentation, according to Fidelity, and their relevance to a COO’s responsibilities
Various methods for a COO to calculate their firm’s cost to serve clients
Four steps RIAs should take to assess team capacity and the profitability of client relationships, according to Julie Littlechild
The importance of both Quantitative and Qualitative aspects of Client Segmentation
How to build a matrix of client service tiers
Why the 80/20 Rule is critical to your Client Segmentation analysis
Matt’s recent RIABiz article can be found here: How Fiduciary Duty Is Causing Confused Advisors to Run Bad Businesses
Fidelity’s research on Client Segmentation can be found here: Four Steps to Successful Client Segmentation
Fidelity’s research calculating the national average cost to serve a client ($9,222) can be found here: Scaling Your Financial Advisory Business
Julie Littlechild’s Kitces.com article can be found here: 11 Action Steps to Design an Extraordinary Client Experience
34 min
February 05, 2025Episode 73: Carrie King and Jay Tarno
With Episode 73, Matt welcomes two thoughtful RIA operators to the podcast: Carrie King and Jay Tarno, CFP®. Carrie is Partner, Chief Compliance Officer, Director of Trading, and a Wealth Advisor at Ullmann Wealth Partners, located in Jacksonville Beach, Florida. Ullmann Wealth Partners was founded in 2002 and has grown from approximately $400 million in 2018 when Carrie joined, to about $1.1 billion today. Jay is the Chief Operating Officer at Cornerstone Planning Group in Fairfield, New Jersey. Cornerstone launched in 2020 with about $100 million of assets and today manages approximately $700 million for clients. Matt, Carrie, and Jay discuss the career paths that led them to where they are today (including Carrie’s time as a French restaurant owner!), as well as:
The mindset they use for tackling each day to ensure they are as productive as possible
Favorite books that have shaped their approach to their careers (Getting Things Done by David Allen and Buy Back Your Time by Dan Martell)
How their firms have used specialized client niches to propel their growth
The hiring, onboarding, and training practices they use to set teammates up for success
The importance of documenting their firms’ processes and how those documented processed can cut employee training time in half
Specific tech initiatives their firms are focused on
45 min
January 08, 2025Episode 72: Brittany Manning & Brian Habas
We welcome Brittany Manning and Brian Habas for Episode 72! Brittany is the Chief Operating Officer at MCF Advisors, with offices in Covington, Lexington, and Louisville, Kentucky. The firm manages approximately $3.2 billion for both private clients and institutional clients and has 34 employees. Brian joined AlphaCore Wealth Advisory about six months ago as Chief Operating Officer. Alphacore is headquartered in La Jolla, CA, with additional offices in five other states. The firm manages around $3.5 billion and employes 49 team members. Britanny, Brian, and Matt discuss career paths for non-advisors in the wealth management industry, as well as:
How they identify different skillsets across their team and ensure they have the right people in the right seats
The importance of documented processes, especially at firms experiencing hyper-rapid growth
The complexities of technology integration
How each are approaching AI at their firms
Strategies both guests have implemented to successfully lead change across their organizations
47 min

About The COO Roundtable

From the publisher's feed

Join host Matt Sonnen and a panel of COOs, as they share an open discussion about operational and technology best practices for the RIA industry, and shed a light on the tremendously important work…