The Fine Print

Many Advisors dedicate their lives to building their companies. But what happens after they exit their business?

The transition can be fraught with unexpected emotional challenges that are often overlooked!

Get ready to address the “founder’s exit paradox” with David Grau Jr. and guest Jerome Myers, founder of DreamCatchers and The Myers Development Group. They shed light on the difficulties that come with stepping away from a business you’ve poured your heart into and how to navigate the journey toward a fulfilling post-exit life.

Key Discussion Points:

• Jerome’s story of exiting Corporate America
• What is the “founder’s exit paradox” and how does it affect business owners
• Why it’s normal to feel empty or lost after a business exit
• Six centers of doubt that every business owner may experience after selling a business
• The N.E.X.T. formula to find purpose post-exit
• Proactive measures to seamlessly navigate the different stages of exit
• And much more!

Resources:

• Dreamcatchers Podcast
• “Your N.E.X.T.?: Finding Fulfillment After Your Exit” by Jerome Myers

Connect with David Grau Jr.:

• Succession Resource Group
• LinkedIn: David Grau Jr, MBA 
• [email protected] 

Connect with Jerome Myers:

• LinkedIn: Jerome Myers
• Jerome Myers Website
• The Exit Paradox

About Our Guest:

Jerome Myers aka “J” is a developer of people and places. He is the founder and Chief Inspiration Officer of DreamCatchers and The Myers Development Group. Through these entities, he gets to live out his childhood dreams of helping people manifest the things they imagine and create social proof that dreams should be real. Since leaving corporate America after building a 20MM division at a Fortune 550 company, J has become one of the most sought-after thought leaders in the multifamily development space. His company, The Myers Development Group, built a multi-million-dollar portfolio following the principles of Myers Methods.

Unlike other coaching programs, they will go beyond strategy, assessments, and encouragement. Jerome pioneered Holistic Transformational Life Coaching more than 15 years ago. Up until about two years ago, it was only used with his closest friends and family. They repeatedly urged him to share his techniques with others and laid the foundation for introducing his methods to the world.

Whether it’s M&A or succession planning, a critical challenge advisors face is navigating the lending process for equity purchases.

It’s not just about the access to capital, but also the intricacies of the deal structure!

Recognizing this struggle, David Grau Jr. sits down with Dustin Mangone and Aaron Racino from PPC Loan to simplify advisor financing. They highlight the current state of M&A and share insights into securing loans and finding a deal that aligns with your business goals.

Key Discussion Points:

• PPC Loan’s 10+ years of experience serving the advisory lending space
• How PPC Loan differs from a traditional bank loan
• What loan solutions may look like for an internal succession to the next-gen
• How to evaluate loan terms beyond interest rates (i.e., understanding the “fine print”)
• Factors that can make or break a deal in the eyes of lenders
• 2024 outlook for M&A trends
• And much more!

Connect with PPC Loan:

• PPC Loan

Connect with Dustin Mangone:

• LinkedIn: Dustin Mangone

Connect with Aaron Racino:

• LinkedIn: Aaron Racino

Connect with David Grau Jr.:

• Succession Resource Group
• LinkedIn: David Grau Jr, MBA 
• [email protected] 

About Our Guests:

Dustin Mangone, as the Managing Partner and Director of the Investment Advisor Program, spends 100% of his time focused on the acquisition financing needs of investment advisors nationwide. With over 14 years of experience as a cash-flow lender, Dustin has evaluated and underwritten more than $500 million in funded loans supporting hundreds of business owners across the country who are looking to grow their business by way of acquisition. From the initial phone call to the funding of your loan, Dustin takes a hands-on approach to make sure your needs are properly met throughout the entire process.

Aaron Racino, during his time with PPC LOAN, has worked with hundreds of current and aspiring small business owners to accommodate their various business financing needs. He relies on his experience to help his clients through not only the lending process but also offers his insight and advice to clients who might be navigating an acquisition for the first time. With a background in sales, Aaron truly knows the importance of tailoring products to suit the needs of his customers and takes a hands-on approach to ensure an enjoyable experience from underwriting throughout the life of the loan.

Ever wondered how top financial firms plan for the future?

Discover the secrets of scaling your financial advisory business in this engaging episode of The Fine Print. Host David Grau Jr. and guest expert Caleb Brown, co-founder of New Planner Recruiting, dive into effective succession planning strategies for independent advisors.

Key Discussion Points:

• The pitfalls of succession planning 
• Understanding the evolving roles in advisory firms
• Navigating the challenges of recruitment and compensation in financial advisory
• The evolution of a CEO’s role in financial advisory firms
• Viability and efficiency of smaller, lifestyle practices
• Emphasizing salary-based compensation models with growth opportunities
• The balance between investing in employee development and managing turnover risks
• And much more!

Resources:

• LinkedIn: Caleb Brown, MBA, CFP®
• NewPlannerRecruiting.com
• New Planner Podcast
• Book: Finding Your Path: The Roadmap from Student to Successful Financial Planner
• Book: Successful Hiring for Financial Planners: The Human Capital Advantage
• Jocko Willink Video: Good

Connect with David Grau Jr.:

• Succession Resource Group
• LinkedIn: David Grau Jr, MBA 
• [email protected] 

About Caleb Brown: 

Caleb Brown is a renowned expert in the financial planning sector, specializing in connecting emerging financial planners with growth-oriented firms across the USA. As a CERTIFIED FINANCIAL PLANNER and a Kolbe Certified Consultant, he plays a pivotal role in mentoring and integrating new talents into the industry. Caleb is recognized for creating the FPA Career Day program and actively contributes to the financial planning community as a member of the FPA New Professionals Advisory Council and Chairman of NexGen. His experience includes over five years in an RIA firm and he’s been acknowledged as the Next Generation Influencer by Financial Planning magazine.

Ever wondered how CRM can redefine your advisory firm?

Join us on The Fine Print, where Rick Williamson, Director of Brand Experience at Redtail/Orion Advisor Technology, brings his dynamic personality and industry expertise to explore the transformative role of Customer Relationship Management (CRM) systems in enhancing advisory business value.

Key Discussion Points:

• The Impact of CRM Systems: Explore how CRM systems can transform business efficiency, profitability, and client relationships in the financial advisory sector
• Effective CRM Usage for Client Relationships: Understand the crucial need for not only possessing a CRM system but also leveraging it effectively to forge strong, personalized client relationships – a key to business success
• Standardization in Business Processes: Discover the importance of having consistent processes, especially in client onboarding and interactions, to boost efficiency and enhance client experiences
• CRM’s Role in Compliance and Risk Management: Learn about how CRM systems like Redtail are instrumental in supporting compliance and mitigating risks, vital for preserving the integrity and value of financial advisory businesses
• Proactive CRM Application: Gain insights into adopting a proactive approach in using CRM systems to amplify client engagement, streamline operations, and drive a firm’s success and client satisfaction
• And much more!

Resources:

• LinkedIn: Rick Williamson
• X: RickyRedtail

Connect with David Grau Jr.:

• Succession Resource Group
• LinkedIn: David Grau Jr, MBA 
• [email protected] 

About Rick Williamson: 

Rick Williamson, better known as Ricky Redtail, is proud to celebrate his 10th year at Redtail, where his role of Director of Training allows him to lead, as well as oversee, all training and education resources, presentations, and content. With a background peppered with stints in film production, public speaking, and working at Walt Disney World, Rick has been able to make a significant impact at both Redtail and in the FinTech industry. His experience in numerous Marketing, Media, Training, and Presentation projects makes him an exciting and entertaining voice in FinTech and Practice Management.

Want to know what sets successful businesses apart? 

Join us in the latest Fine Print episode, where Julia Sexton, Director of Strategic Organizational Planning at Succession Resource Group, unravels the complexities of strategic organizational planning. David and Julia’s conversations offer invaluable insights for independent advisors aiming to boost their business value, growth, and sustainability.

Key Highlights:

• Discover how nurturing talent fuels business expansion
• Dive into the secrets of effective compensation plans that drive success
• Uncover how the right mix of incentives can keep top talent thriving
• Find out how intangible rewards can drive real business impact
• Explore innovative strategies for employee motivation and engagement
• Learn how smart vesting aligns with company growth and employee loyalty
• Discover the transformative potential of equity plans in shaping business futures
• And much more!

Connect with David Grau Jr.:

• Succession Resource Group
• LinkedIn: David Grau Jr, MBA 
• [email protected] 

Connect with Julia Sexton:

• LinkedIn: Julia Sexton (Sullivan), CVA

About Julia Sexton: 

Julia, SRG’s Director of Strategic Organizational Planning since 2023, specializes in guiding clients toward long-term success through tailored contingency and employment programs. With a comprehensive approach, she crafts individualized employee and owner compensation plans, structures equity rewards for sustained business goals, and supports growth initiatives through entity formation and M&A. Drawing on 5 years of experience as a certified business appraiser, Julia has completed over 2,000 valuations and facilitated 200+ successful mergers. Holding a CVA designation and a Bachelor of Science in Business Administration from the University of New Hampshire, Julia is a member of NACVA. Based in Providence, Rhode Island, she enjoys outdoor activities with her husband and golden retriever, engaging in competitive CrossFit, and unwinding on the beach with a good book.

Ever wondered why some deals soar while others sputter? 

From backdoor metrics to surprising valuations, we’re spilling industry secrets.

David Grau Jr. and Parker Finot from SRG invite you to join them as they unravel the mysteries of deal-making in the financial advisory world. Dive into the hidden metrics, unexpected valuations, and behind-the-scenes dynamics that shape business transitions.

Listen in as David and Parker reveal:

• What really separates Deal Support from Succession Planning
• Why full sales through asset acquisition are so prevalent
• How consulting can make or break client relationships during transitions
• Why some peer-to-peer deals seem undervalued, while others skyrocket 20-30% above expectations
• Why sellers stay on post-sale and the evolving dynamics of peer-to-peer deals
• And much more!

Resources:

• LinkedIn: Parker Finot

Connect with David Grau Jr.:

• Succession Resource Group
• LinkedIn: David Grau Jr, MBA 
• [email protected] 

About our Guest: 

Parker Finot, an M&A and Succession Plan Consultant at SRG, has nearly a decade of financial experience. He previously served as a San Diego financial advisor and was a pioneering Virtual CFO at LPL Financial. Educated at San Diego State University with a Professional Accounting Certification from UCSD Extension, Parker excels in corporate finance and business consulting.

The financial advisory industry is currently facing a significant challenge. The average age of advisors is increasing, and there is a pressing need for new talent. Many advisors struggle with building a team and transitioning their businesses to the next generation.

In this episode David Grau Jr. interviews Jon Randall, an advisor and consultant, about the importance of finding, training, and compensating next generation advisors in the financial advisory industry. They discuss the challenges of building a team and transitioning businesses to the next generation, emphasizing the need for training programs focused on the business owner aspect. They also explore the benefits of hiring and training raw talent, as well as the importance of incentives and clear career paths in retaining talent. 

David and Jon discuss: 

• Benefits of homegrown talent and training individuals in-house
• Strategies for finding and attracting talent, including networking events and internships
• The importance of offering competitive salaries and incentives to attract and retain talent
• The need for a clear career path and advancement opportunities within a firm
• Training and developing junior advisors, including specialization and working in teams
• The challenge of founders letting go and allowing junior advisors to take the lead
• And more!

Resources:

• LinkedIn: Jon Randall
• XFA Coach

Connect with David Grau Jr.:

• Succession Resource Group
• LinkedIn: David Grau Jr, MBA 
• [email protected] 

About our Guest: 

XFA.COACH – eXtraordinary Financial Advisors is a distinctive coaching and consulting firm committed to providing financial advisors a specialized and proven approach to eXtraordinary growth and profitability.

Ever wondered why top financial advisors stay loyal to their firms or jump ship? 

Dive into this episode where David Grau Jr. unravels the mysteries of compensation in the financial advisory industry. Discover the pitfalls of traditional revenue-based models and the power of intentional design in compensation plans. Don’t miss this deep dive if you want to ensure your business’s success!

David discusses:

• The evolution of compensation models: Lifestyle practice vs. true enterprise
• The drawbacks of traditional revenue-based compensation systems
• The critical role of benchmarking and recalibrating compensation plans
• And much more…

About David: 

David Grau Jr. is the founder and CEO of Succession Resource Group, a succession and M&A consulting company for advisors. Prior to launching SRG, David was the leading M&A consultant for a well-known succession planning firm to advisors where he led and developed numerous programs for RIAs. Prior to this role, David served in the United States Navy.

David is a published author and accomplished speaker and has been interviewed and cited in dozens of publications over the last decade. He is currently one of the leading speakers in the financial services industry on M&A and next-gen building strategies, with over 200 presentations to his credit. In the past five years, he has spoken at a variety of the industry’s leading firms, including LPL Financial Services, Wells Fargo, Ameriprise Financial, ING, Independent Financial Group, Geneos, Swan Global, Advisor Group, Fidelity, Jackson National, Prudential, Raymond James, and regularly volunteers his time speaking for the Financial Services Institute (FSI) and FPA chapters around the country.

David holds a Bachelor’s Degree from Portland State University and has a Master’s Degree from Willamette University’s Atkinson Graduate School of Management. David, his wife Kristen and their three children are long-time residents of Portland, Oregon, but take every opportunity to travel.

Fun Facts: David enjoys spending time with his family, reading, running, is an avid wine enthusiast and developing a taste for cigars, loves traveling, reading, he also enjoys snow and water sports and loves basketball (playing or watching). Prior to having three children and starting a business David had a beautiful head of hair. Now he doesn’t.

Do you know where your practice is going once you decide to let go of the wheel? Can it survive without your direction? Do you know what processes to start implementing now to ensure a smooth transition of your business?

In this episode, David Grau Jr. is joined by Matt Cooper, the President of Beacon Pointe Advisors. They discuss the importance of succession planning for independent advisors and the process of putting deals together in the private equity industry. 

Matt discusses: 

• Insights on Beacon Point’s growth and expansion through M&A transactions, their criteria for affiliating with other firms, and the importance of next-generation talent.
• The need for personal connections and addressing both economic and emotional aspects in deals
• Advice for buyers and sellers based on their experiences
• And more

Connect with David:

• Succession Resource Group
• LinkedIn: David Grau Jr, MBA 

Connect with Matt:

• Beacon Pointe Advisors: Matt Cooper 
• LinkedIn: Matt Cooper

About our Guest: 

Matt is a founding partner of Beacon Pointe Advisors and oversees the firm’s strategic plan focused on mergers and acquisitions, creating synergistic partnerships between Beacon Pointe and other wealth managers across the country. Matt has been featured in Financial Planning Magazine, Barron’s, InvestmentNews, Citywire, Financial Advisor IQ, and Forbes, among other publications. He also regularly speaks on a host of wealth management and industry-related topics across various national conferences. Matt has a passion for continuous lifetime learning with a focus on the wealth management and financial life management industries. At a time when the RIA industry is changing more rapidly than any other point in history, his focus is on building the best possible business to serve clients and to assist other wealth advisors in meeting their lifetime goals. Matt graduated from the University of Southern California Marshall School of Business with a BS in Finance and Business Economics. While at USC, Matt served as President for the Sigma Alpha Epsilon Fraternity. He remains a supporter of both the University and the National Fraternity. Matt has served on the Advisory Committee of Serving People in Need (SPIN), is past President of Newport Mesa National Junior Basketball, past President of the Andersen Elementary School Foundation (DEANS), is a member of Legatus International, and also served on the Investment Committee of The Orange Catholic Foundation. He lives in Dallas, Texas with his wife and has three sons. Matt enjoys traveling, running and exercise, and spending time with his family.

As the founder of an advisory firm, it’s your moment to embrace the mantle of true leadership and propel your firm towards unprecedented success. While it may seem like a natural progression for a founder, the transition is often more challenging than it appears.

In this episode, David Grau Jr. dives into the shift from being a producer to a CEO in the industry. David underscores the indispensable role of exemplary leadership in thriving firms, emphasizing the need to metamorphose from an owner-operator to a CEO for a sustainable enterprise’s development.

David discusses: 

•  Essential attributes of triumphant business leaders such as intentional building, dismantling of silos, and fostering cohesive teams
• The significance of clear job descriptions and career paths in enticing the next generation of talent
• The art of enterprise-building: strategies for constructing a business that serves your vision and more.
• And more!

Connect with David:

• Succession Resource Group
• LinkedIn: David Grau Jr, MBA