Author: trtnetwork
Episode 111: This week, Kyle Van Pelt talks with Ian Wenik, Editor at Citywire and one of the sharpest reporters covering the RIA space. While many firms rely on market performance to maintain their numbers, Ian sheds light on what truly differentiates the fastest-growing RIAs. From niche strategies and referral networks to the big M&A moves reshaping the industry, Ian shares insights from Citywire’s 50 Growers Across America and why organic growth is the real differentiator. He also unpacks the pressures of private equity ownership, the challenges of succession, and what the endgame looks like for mega firms.
In this episode:
(00:00) – Intro
(01:46) – Ian’s money moment
(04:01) – What sets the fastest-growing RIAs apart
(07:55) – The future of inorganic growth and M&A trends
(10:45) – The challenges of the IPO market for large RIAs
(17:15) – Why Ian compares the industry to a fancy beach house
(22:06) – Innovative growth programs and strategies
(24:19) – Challenges for America’s fastest-growing RIAs
(25:47) – Ian’s thoughts about trends and the future of the industry
(31:17) – Ian’s Milemarker Minute
Key Takeaways
Organic growth is harder—but more sustainable—than most advisors realize. Many RIAs rely heavily on market appreciation to appear successful, but Ian underscores that true, organic growth takes significant investment and intentional strategy. The fastest-growing firms often succeed by identifying niche markets, building strong referral networks, and developing internal training programs to cultivate talent from within.
Talent is the real differentiator (and how you develop and retain it). In a competitive, consolidating market, your ability to recruit, train, and retain top talent matters more than ever. Firms that provide clear career paths, equity ownership, and operational roles for junior staff—not just rainmakers—will be best positioned for long-term success.
Quotes
“Momentum generates momentum. Deals generate deals. Once you have a track record of being able to integrate a firm, keep clients on board, and keep the advisors happy, you’re going to have those bankers who handle sell-side engagements trust you with more deals.” ~ Ian Wenik
“What’s driving so much of the M&A in the industry right now is time. A lot of the big firms sell because they have succession planning needs. Or if you’re already an institutionally-backed firm, you’re in the market because you’re a private equity owner, and you have an expiration on that play clock.” ~ Ian Wenik
“The dirty secret of the RIA industry is that many firms don’t grow at all. They don’t grow organically. It’s the market appreciation that’s propping them up.” ~ Ian Wenik
Links
Ian Wenik on LinkedIn
Citywire
Newsday
The Deal
Alex Steger
Alec Rich
Carson Group
Hightower Advisors
Wealth Advisor Solutions
Schwab Advisor Network
FINTRX
Ulrich Investment Consultants
Allworth Financial
Wealth Enhancement
Creative Planning
CI Financial
Corient
LPL Financial
Cetera Financial Group
Osaic
The Unlock
Michael Batnick
Moneta Group
Alaska Wealth Advisors
Angie Herbers
Cerity Partners
Genstar Capital
Steward Partners
Morgan Stanley
Merrill Lynch
UBS
Goldman Sachs
Summit Trail Advisors
BBR Partners
Ameriprise Financial
Edelman Financial Engines
Mariner Wealth Advisors
Savvy Wealth
Dakota Wealth Management
The Fund
Great Leap Forward
Mao’s Great Famine
Connect with our hosts
Milemarker.co
Kyle on LinkedIn
Jud on LinkedIn
Subscribe and stay in touch
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Behind the Scenes at TaxStatus, Revenue Optimization Workshop, & Denver Data Workshop
This week, Jack Sharry talks with Ken Dychtwald and Ken Cella. Ken Dychtwald is the Founder & CEO of Age Wave. He is a psychologist, gerontologist, and author of 19 books. For decades, Ken has been regarded as the nation’s foremost thought leader on population aging and its profound business, social, financial, and cultural implications for the healthcare workforce. Ken Cella is the Head of External Affairs at Edward Jones, where he is responsible for fostering strategic partnerships and expanding relations with policymakers, industry leaders, and other influencers to make a greater impact on society. He is also a member…
Episode 110: This week, Kyle Van Pelt talks with Kevin Knull, CEO of TaxStatus. With more than 30 years in financial services and fintech, Kevin has led growth and innovation at companies like MoneyGuidePro, YCharts, Symetra Financial, and Hartford Leaders. Throughout his career, he’s been dedicated to advancing the industry by helping advisors deliver smarter, higher-quality advice to their clients.
Kevin talks about how TaxStatus leverages access to IRS data to help financial advisors get a complete picture of a client’s financial life. He explores the opportunities this presents for organic growth, building relationships with COIs, and providing better, more holistic advice. From his early days in the U.S. Coast Guard to leading FinTech and advisory firms, Kevin shares how his career has been fueled by one mission: delivering better advice and better outcomes.
In this episode:
(00:00) – Intro
(02:01) – Kevin’s money moment
(04:42) – Why “better advice, better outcomes” is harder than it looks
(06:15) – How tax data can serve as the foundation for holistic advice
(09:27) – How TaxStatus can access clients’ IRS data
(11:13) – Consent, compliance, and how advisors can use IRS data responsibly
(13:01) – Turning tax data into organic growth opportunities
(16:20) – Partnering with CPAs and COIs through smarter data sharing
(19:16) – The importance of a standardized process for data collection
(24:28) – The role of AI in the future of the industry
(31:22) – Kevin’s Milemarker Minute
Key Takeaways
Advice is both an art and a science. Financial planning requires connecting multiple disciplines—tax, investments, estate planning, and risk management—rather than operating in silos.
Start with the source of truth. The IRS holds the most complete financial picture of clients. Leveraging that data helps advisors deliver more accurate, holistic advice.
Organic growth lives with existing clients. The fastest way to grow isn’t always new leads. It’s uncovering assets, businesses, and properties that clients already have but haven’t disclosed.
Data builds trust with COIs. CPAs, attorneys, and other professionals benefit from cleaner, real-time data. Advisors who bring value here strengthen partnerships and referrals.
Quotes
“There’s science and there’s art to this industry. And unfortunately, because the industry evolved, each discipline is operated separately.” ~ Kevin Knull
“The IRS is the source of truth. They have everything. So if you’re going to render advice, that’s the first place to start.” ~ Kevin Knull
“Financial planning, investment advice, and wealth management are art and science. Just like insurance and tax, there’s a whole lot of gray. That gray is where firms, advisors, and professionals are going to differentiate themselves.” ~ Kevin Knull
Links
Kevin Knull on LinkedIn
TaxStatus
Envestnet | MoneyGuide
Plaid
Yodlee
NAPFA
Catch-22
Connect with our hosts
Milemarker.co
Kyle on LinkedIn
Jud on LinkedIn
Subscribe and stay in touch
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Produce game-changing content with Turncast
Turncast helps your company grow by producing top-quality content and fostering transformative conversations. We specialize in content generation, podcasting, digital strategy, and audience growth for fintech and financial services companies. Learn more at Turncast.com.
DevTools Announcement, Milemarker Snags a Wealthie and more
Teddy Gold is the co-founder of 3i Members, a private, invite-only network for family offices, exited entrepreneurs, and active fund managers. With a background in investment and a passion for building communities rooted in trust, Teddy helped launch 3i to solve the problem of random deal sourcing by leveraging curated peer collaboration. This week, Jack Sharry talks with Teddy about how 3i Members has grown into a thriving platform that facilitates smarter investing through crowdsourced expertise and strong relationships. They explore how the network vets opportunities, builds trust through shared values and non-solicitation, and helps members navigate everything from private…
Episode 109: This week, Kyle Van Pelt talks with Tiffany Irving, Senior Vice President and Wealth Advisor at Mesirow Wealth Management. Tiffany specializes in working with high-net-worth individuals, families, and non-profit organizations by providing comprehensive wealth management advice and customized asset allocation strategies to help them accumulate, grow, protect, and distribute their wealth.
Tiffany shares her work with business owners and her passion for empowering women in finance. From the challenges of working with busy entrepreneurs to navigating wealth transfer and the evolving role of women in financial planning, Tiffany offers valuable insights on preparing, planning, and protecting both personal and business wealth. She also shares her perspective on technology, growth strategies, and the future of consolidation in the RIA space.
In this episode:
(00:00) – Intro
(01:28) – Tiffany’s money moment
(03:49) – How Tifanny succeeds in communicating with business owners
(05:24) – How Mesirow helps business owners
(06:54) – Helping business owners prepare, protect, and plan their wealth
(09:21) – What it takes to attract the next generation of investors
(11:55) – Tiffany’s thoughts on the great wealth transfer and women in finance
(16:44) – Leveraging technology to serve clients better
(18:01) – Mesirow’s growth strategies and marketing approaches
(19:56) – Tiffany’s outlook on the future of the industry
(23:38) – Tiffany’s thoughts on the consolidation happening in the industry
(26:41) – Mesirow’s core values
(27:56) – Tiffany’s Milemarker Minute
Key Takeaways
Treat your personal wealth like your business, with a strategy to prepare, plan, and protect.
Create your board of directors. As a business owner, you shouldn’t be the middleman between all of your advisors. Surround yourself with a trusted team of professionals, including attorneys and tax experts, and let them collaborate on your behalf.
Educate the next generation. The great wealth transfer is happening now. Get the next generation involved in conversations about the family’s financial history, values, and goals.
Women are not a niche market. With women living longer and the rise of female breadwinners and business owners, the financial industry is overdue in adapting to serve women. Financial planning is about empathy and understanding the unique goals and concerns of every client, regardless of gender.
Quotes
“There are a lot of tools in our tool belt as advisors. We just have to remember to educate our clients and let them know what’s available.” ~ Tiffany Irving
“Women are not a niche market. We’re over 50% of the population. So, we’re trying to make sure that both partners or spouses are engaged and involved in all of our financial discussions.” ~ Tiffany Irving
“Client demographics are evolving. The next generation is here, and we have to meet them where they are.” ~ Tiffany Irving
Links
Tiffany Irving on LinkedIn
Mesirow
Salesforce
eMoney Advisor
Holistiplan
Charles Schwab
Fidelity Investments
The God of the Woods
Lula Dean’s Little Library of Banned Books
Connect with our hosts
Milemarker.co
Kyle on LinkedIn
Jud on LinkedIn
Subscribe and stay in touch
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Produce game-changing content with Turncast
Turncast helps your company grow by producing top-quality content and fostering transformative conversations. We specialize in content generation, podcasting, digital strategy, and audience growth for fintech and financial services companies. Learn more at Turncast.com.
Milemarker Wins Big at WM Awards, Ritholtz’s Tech Stack, and a Can’t Miss Pre Schwab Data Workshop
John Sweeney is a seasoned financial services leader with a career spanning senior roles at Fidelity Investments to entrepreneurial ventures at the forefront of innovation. Over nearly two decades at Fidelity, he drove product and technology development across mutual funds, ETFs, managed accounts, and retirement solutions. After leaving Fidelity, he immersed himself in startups exploring blockchain, alternative investments, and AI. Today, as head of Praxis Solutions, he blends strategic insight with advanced technology execution, helping wealth and asset management firms harness AI and blockchain to improve efficiency, decision-making, and client outcomes. This week, Jack talks with John about how Praxis…
Episode 108: Michael Batnick is the Managing Partner at Ritholtz Wealth Management, where he helps shape one of the most influential RIAs in the country while also co-hosting popular podcasts like Animal Spirits. Known for his candor and curiosity, Michael brings a refreshing perspective to investing, leadership, and the business of advice.
This week, Kyle talks with Michael about his winding path into finance—from drifting through college and struggling in sales to finding purpose in markets and mentorship. Michael reflects on the lessons of curiosity, humility, and hiring the right people, while unpacking the challenges of building a sustainable RIA. The conversation spans advisor recruitment, the pull of private equity, operational hurdles, tech frustrations, and AI’s coming role in reshaping client service.
In this episode:
(00:00) – Intro
(01:17) – Michael’s money moment
(04:38) – From cold calling to discovering a passion for the markets
(10:06) – Michael’s hiring philosophy
(13:35) – Ritholtz acquisition strategy
(14:49) – The influence of private equity on RIAs
(19:02) – What makes Ritholtz an excellent choice for advisors
(24:28) – What it takes to run support infrastructure for advisors
(28:41) – Ritholtz’s tech stack
(33:30) – Mystery chart challenge
(35:56) – Michael’s thoughts on AI and the future of the industry
(44:14) – Michael’s Milemarker Minute
Key Takeaways
Hire for personality, not just the resume. Skills can be taught, but finding someone you actually want to work with every day is irreplaceable.
Don’t underestimate the power of a strong brand and organic growth. Organic reach and sustainable growth allow firms to hire advisors who are philosophically aligned with their values, rather than those who are simply motivated by an upfront payout.
The best advisors are the best listeners. Over-talking is a rookie mistake. Clients value being heard more than being dazzled with facts.
AI will make advisors better listeners. Real-time feedback and conversation analysis will help advisors catch missed cues and improve client relationships.
Quotes
“Things change a lot, they change always, and they change often. And I didn’t want to be an expert on an earlier version of the world. The world is a dynamic place, and you need to stay involved in what’s going on.” ~ Michael Batnick
“The job of an advisor is very difficult. It is to be a listener first.” ~ Michael Batnick
“Younger advisors tend to oversell and overcommunicate. It’s not about you convincing the prospect that you are smarter than they are. The best advisors are the best listeners.” ~ Michael Batnick”It’s relatively easy to convince clients to give you money. But what’s hard is actually executing and implementing and doing the things that you said that you were going to do.” ~ Michael Batnick
Links
Michael Batnick on LinkedIn
Ritholtz Wealth Management
Joshua Brown
Barry Ritholtz
BlackRock
Jay Tini
Anna Chaiken
Nick Maggiulli
Salesforce
Orion Advisor Solutions
Fidelity Investments
Charles Schwab
Altruist
VRGL
Wealth.com
T3 Conferences
Envestnet | MoneyGuide
eMoney Advisor
The Godfather
Animal Spirits Podcast
Connect with our hosts
Milemarker.co
Kyle on LinkedIn
Jud on LinkedIn
Subscribe and stay in touch
Apple Podcasts
Spotify
YouTube
Produce game-changing content with Turncast
Turncast helps your company grow by producing top-quality content and fostering transformative conversations. We specialize in content generation, podcasting, digital strategy, and audience growth for fintech and financial services companies. Learn more at Turncast.com.