Welcome back to the 222nd episode of the Podcast on the success of the financial advisor!
My guest on today’s podcast is Jonathan Kuttin. Jon is the founder of Kuttin Wealth Management, a hybrid RIA headquartered in Long Island, NY that manages over $ 3 billion for approximately 5,500 clients.
What is unique about Jon, however, is that as his business grew to the point where it became necessary to separate customer service from running and running the business, Jon did not hire a COO to run the business and instead made a conscious decision to remove Move away from a customer-centric role in the business so that he can spend all of his time working on the business and instead developing its systems and culture.
Below we talk in depth about how Jon identified three distinct roles in his company that allow employees to focus solely on what they can (which has both superior results and clarity about responsibilities within the company itself creates) why Jon found business growing better by completely getting his advisors out of the prospecting business and focusing on delivering an amazing customer experience. Jon has grown the company by creating a separate CPA referral program to attract potential clients. His advisors then close using the “borrowed trust” they receive from the CPA referrals.
We also talk about how the “entrepreneurial itch” influenced Jon’s decision to leave his paid leadership role at Ameriprise to open his own practice. After Jon achieved financial security for himself and his family, his focus and drive shifted to helping people in his organization get what they want in life, as Jon learned lessons he learned early on, to nurture a strong culture and develop leaders throughout his career, and the “WDYWFY” question, “What do you want for yourself?” Jon found to be the most effective way to both build loyalty and a culture who genuinely care and value the people in the organization.
And be sure to listen to the ending where Jon shares the challenges of scaling a consulting firm nearly 100x from $ 30M to $ 3B over the past 20 years. So Jon felt it was necessary to move the company to a visionary culture in which he didn’t have to make every important decision, as Jon learned that integrity is still no substitute for making important legal arrangements after becoming an important partner separated from the company and taken away a significant segment of customers and revenue, as well as the five levels of leadership Jon seeks to cultivate in all executives of the company – including himself – to continue to grow for decades to come.
So whether you’re interested in how Jonathan built productive relationships with CPAs who actively refer clients to his company, why he is so focused on culture as a key element of his organization, and why it is possible to get his consultants out of the prospecting business, Us hope you enjoy this episode of the Financial Advisor Success podcast starring Jonathan Kuttin.
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