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Episode 101: This week, Kyle Van Pelt talks with Nelly Mubashi, CEO of Northwest Asset Management and RIA Innovations. They discuss how advisors can build their own RIA easily and confidently. Nelly also shares her remarkable journey from receptionist to CEO, the importance of culture in growing a company, and how Northwest Asset Management and RIA Innovations can be the launchpad for advisors going independent.

In this episode:

(00:00) – Intro

(01:50) – Nelly’s money moment

(07:16) – Why Nelly chose the RIA space over larger firms

(08:42) – Launching an RIA in the middle of the 2008 financial crisis

(10:26) – Maintaining company culture across a growing, remote team

(13:25) – Why Nelly offers à la carte services instead of a one-size-fits-all model

(15:19) – Designing the tech stack at Northwest Asset Management

( 17:59) – Integrating technology across platforms without chaos

(20:35) – Making sense of business data in a multi-platform world

(23:36) – The ideal advisor fit for Northwest Asset Management

(25:53) – How the firm attracts and retains breakaway advisors

(28:27) – What’s next for RIAs: trends, predictions, and a trust company

(32:59) – Nelly’s Milemarker Minute

(35:38) – Nelly’s “why” for founding Northwest Asset Management

Key Takeaways

Breaking away from a big firm doesn’t mean sacrificing service or professionalism. Advisors often fear that going independent means a downgrade in service or technology. But with the right support model—like the one Nelly has built—advisors can maintain (or even enhance) client experience while gaining freedom and flexibility.

Culture is a competitive advantage, even in a remote-first environment. As firms scale and spread out geographically, intentional communication, responsiveness from leadership, and regular team engagement are essential to maintaining a strong, connected culture that supports both staff and advisors.

One-size-fits-all platforms limit advisor growth—flexibility is key. Offering à la carte services gives advisors the ability to build the business that works best for them. By avoiding rigid packages and letting advisors customize what they outsource, firms can better serve a wider range of needs and goals.

Technology should empower—not complicate—advisor independence. Having a curated but flexible tech stack, paired with an experienced ops team, allows advisors to plug in and focus on clients instead of platforms. Integration and data visibility across systems are essential to scale effectively without losing clarity.

Quotes

“We’re looking for advisors who are simple. They don’t take a lot of risk, are easy to manage, and their clients can be scaled up.” ~ Nelly Mubashi

“When thinking about our services, we’re making sure that we are providing the highest level of service and the highest level of technology so that advisors have that great experience. They don’t feel like they’re getting downgraded because you know they’re moving to a small RIA.” ~ Nelly Mubashi

“I want to make sure that advisors have a platform where they feel comfortable and don’t feel too small for someone to pay attention to them.” ~ Nelly Mubashi

Links 

Nelly Mubashi on LinkedIn

Northwest Asset Management

RIA Innovations

U.S. Bank

Piper Jaffray (now Piper Sandler)

UBS

Charles Schwab

Fidelity Investments

Tamarac

Orion Advisor Solutions

eMoney Advisor

Envestnet | MoneyGuide

Holistiplan

Nitrogen

SS&C Salentica

Start with Why by Simon Sinek

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

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Behind the Scenes at Mercer Advisors, Next Level Hits 100, & Milemarker Release Notes

This week, Jack Sharry talks with Colleen Bell, President of Innovation and Experience at Cambridge Investment Research. Colleen is also…

Episode 100: This week, Kyle Van Pelt talks with Dave Welling, CEO of Mercer Advisors.  With 25 years of experience in wealth management, Dave has an extensive track record of serving clients and helping businesses and people define and achieve the next level of success. 

Together, Kyle and Dave unpack the human side of Mercer’s incredible growth story, reflecting on how the firm’s partnerships have fueled its scale and shaped its culture. From his unlikely entry into the RIA space to overseeing 95+ acquisitions since 2017, Dave shares insights on staying purpose-driven, maintaining empathy, and choosing growth as an integral part of an organization’s DNA.

In this episode:

(00:00) – Intro

(01:31) – The journey to Mercer’s 100 partnerships

(03:17) – Dave’s money moment

(06:45) – How Dave’s past experiences have influenced his present career

(11:05) – Why firms choose to partner with Mercer Advisors

(14:45) – Mercer Advisors’ organic growth strategies

(17:11) – Talent attraction and growth as part of Mercer’s DNA

(19:13) – The continuous journey of improvement

(23:51) – Leveraging technology experience on the RIA side

(27:49) – The best time to invest in technology solutions

(31:06) – The lessons Dave learned from working with Charles Schwab

(34:28) – Dave’s thoughts about the future of Mercer Advisors

(37:34) – The role of AI in orchestrating workflows in the organization

(39:36) – Dave’s Milemarker Minute

Key Takeaways

Don’t view growth as merely an outcome but rather as an integral part of your organization’s DNA. Foster an environment that encourages individuals to learn, take on new responsibilities, and improve continuously.

When pursuing mergers or acquisitions, focus on integrating new teams into the existing structure rather than simply aggregating entities. The goal should be to enhance capabilities, improve client experiences, and create synergistic opportunities for all involved.

Before a transaction, engage in deep conversations with potential partners to understand their current challenges, unfulfilled opportunities, and aspirations. Help them determine if a partnership genuinely aligns with their long-term goals and will lead to a better future for their clients and team.

View technology as an enabler for scaling your operations and ensuring consistent service delivery. Before implementing new tech, standardize your core processes. Then, invest in platforms that not only support current operations but also allow for significant future growth.

Quotes

“Growth is part of our DNA. Growth is part of our culture. And the people that thrive here are interested in growing in some way.” ~ Dave Welling

“The healthiest thing you can do for talented individuals of any age, at any stage of their careers, is provide an environment of growth so people can carve a path and jump into that next opportunity.” ~ Dave Welling

“Growth isn’t just adding assets, adding clients, and getting a bigger AUM number. Growth is just progress.” ~ Dave Welling

Links 

Dave Welling on LinkedIn

Mercer Advisors

Nitrogen

Charles Schwab

Black Diamond Wealth Platform

Paragon Wealth Strategies

The 5 Types of Wealth

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

Subscribe and stay in touch

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Dave Welling is the Chief Executive Officer at Mercer Advisors. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change. Mercer Global Advisors Inc. is registered with the Securities and Exchange Commission and delivers all investment-related services. Mercer Advisors Inc. is a parent company of Mercer Global Advisors Inc. and is not involved with investment services.

Joe Duran’s Next Bet, Warehousing Your Black Diamond, Wealthbox, and more

Episode 099: This week, Kyle Van Pelt talks with Brian Shenson, Managing Partner and COO at Rise Growth Partners. With more than two decades of experience working with financial professionals, Brian has developed a deep understanding of the business fundamentals and operational aspects of wealth management services. He applies this deep industry expertise and his passion for technology and innovation to help firms extend the reach, impact, and resiliency of their digital solutions.

Kyle and Brian explore the evolving landscape of advisor tech and the power of intentional growth. Shenson shares lessons from his journey through Schwab, consulting, and BCG, diving into the challenges firms face with tech sprawl, data integration, and delivering personalized client experiences. They discuss how Rise is helping mid-market RIAs scale with purpose, leverage data more effectively, and build modern platforms that prioritize human connection and operational clarity

In this episode:

(00:00) – Intro

(02:09) – Brian’s money moment

(05:35) – Brian’s journey from Schwab to Rise

(09:57) – What captive firms can learn from independents (and vice versa)

(13:43) – Why most RIAs don’t build their own platforms

(19:19) – What it really takes to build great fintech

(20:54) – The vision behind Rise Growth Partners

(23:54) – Accelerating growth with strategy and tech

(27:11) – Who Rise is built for

(33:20) – Bridging the gap between advice creation and advice execution 

(38:35) – The power behind platforms

(40:46) – Brian’s thoughts on AI, data, and the future of advice

(46:20) – Brian’s Milemarker Minute

Key Takeaways

To build advisor platforms that can evolve with changing client and advisor needs, firms must separate the experience layer, business functionality, and data. This foundational architecture is key to long-term flexibility and scalability.

As firms grow—especially through M&A—they face a tangled web of tools and data. Middleware isn’t just a tech buzzword; it’s the critical infrastructure that transforms fragmented platforms into cohesive, advisor-friendly experiences.

Many firms delay tough integration work in favor of short-term growth. But without intentional platform decisions and cultural alignment, that tech debt builds silently, eventually stalling progress and creating friction at scale.

The best firms are redesigning workflows to let advisors spend more time in front of clients and less time in back-office systems. Separating advice creation from advice execution—with the right tools and teams—is a game changer.

Quotes

“There’s a desire to learn and copy the innovations in the independent space because the independents are moving very fast. They’re trying things, they’re breaking things.” ~ Brian Shenson

“With Rise, and because of our strategy and attention to getting it right, we’re thinking as much about culture fit and platform fit. Those things matter almost as much, if not more than just the math.” ~ Brian Shenson 

“What Rise is trying to do is back great entrepreneurs who have great businesses that want to have a meaningful impact on the industry. We want to provide them with the capital they need to get there, the expertise to support their journey, and to create an ecosystem of support around them.” ~ Brian Shenson

Links 

Brian Shenson on LinkedIn

Rise Growth Partners

Charles Schwab

Joe Duran

United Capital Financial Advisors

Boston Consulting Group

Envestnet

Orion Advisor Solutions

The Psychology of Money

Sapiens

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

Subscribe and stay in touch

Apple Podcasts

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Nate Bargatze, Creativity Inc., and the Importance of Creating Space in Your Firm

This week, Jack Sharry talks with Randy Morris, Founder & CEO of Summit Wealth Group, a boutique financial planning firm…

YCombinator Talk on AI Advancement, Keeping Compliance Simple, and Data Lakes: The Replay

This week, Jack Sharry talks with Kellan Brown, Chief Operating Officer and Chief Development Officer at 100 Women in Finance.…