Episode 105: This week, Kyle Van Pelt talks with Phillip Hamman, President & CEO at Linscomb Wealth (LW). Phillip leads the team in developing and executing the firm's visionary strategies. His leadership extends to serving on the LW Board of Directors, chairing the Executive Committee, and contributing as a voting member of the Investment Committee, reflecting his deep proficiencies in investment advisory, client service, and wealth planning.

Kyle and Phillip talk about how hospitality, character, and processes redefine client service. Phillip unpacks the important role that systems and processes play in building a scalable business. He also shares LW's thoughtful approach to succession planning and how leading firms leverage technology to stay ahead. 

In this episode:

(00:00) - Intro

(02:30) - Phillip's money moment

(04:53) - How LW guides firms with ambitious plans and goals

(06:52) - How kissing frogs relate to growth

(09:32) - LW's strategic expansion in the Southeast US

(11:50) - LW's organic growth strategy

(14:03) - What makes great client service

(18:34) - The importance of systems and processes

(22:58) - LW's succession planning strategy

(27:12) - The role of technology in highly successful firms 

(29:48) - Phillip's outlook on the future of the industry

(32:27) - Phillip's Milemarker Minute

Key Takeaways

Marry vision with agility. While setting ambitious, clear strategic goals is crucial, always build in flexibility and an adaptable mindset. Recognize that the market and external circumstances are largely beyond your control. 

Practice hospitality. Elevate your client service beyond mere satisfaction. This means actively and deeply listening to your client's unspoken needs and going the extra mile—consistently delivering unexpected 'wow' moments that make them feel exceptionally valued and understood.

Character + process = results. When a firm's character and efficient processes are in sync, they create a one-team approach that consistently drives positive results for both the business and its clients.

Holistic succession planning. Look beyond just identifying future leaders. Develop robust training and development programs for your next generation of advisors and nurture intergenerational understanding within the firm.

Quotes

"Be strategic-minded but definitely adaptable because there's so much out there you really can't control." ~ Phillip Hamman

"Character plus process equals results. We try to embody that, bringing the values of the firm together every day with this one-team approach that we have for going out and achieving results for clients." ~ Phillip Hamman

"If you're going to be a holistic, fee-only fiduciary wealth advisor, the human element will continue to remain just so important. Spend the time to figure out who you are and where you really add value for clients." ~ Phillip Hamman

Links 

Phillip Hamman on LinkedIn

Linscomb Wealth

Ryan Patterson

Unreasonable Hospitality

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

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