Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with

financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading financial

advisors navigated the inevitable challenges that arise on the path to success and get insight

from leading industry consultants about how to break through to the

next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone.

Welcome to the 77th episode of the Financial Advisor Success podcast. My guest on today's podcast is

Tanya Rapaz. Tanya is the co-founder of the partnership resource, a consulting

firm that works with financial advisor partnerships to ensure that the partnership itself actually

works, from formation to the ongoing operation of the business to succession planning.

What's unique about Tanya, though, is that before she was trained in dispute resolution

and mediation, she was a financial advisor herself, who both worked successfully in a partnership and went through a partnership merger

that didn't work out.

As she experienced firsthand, what happens when multiple partners of a partnership each want

to take the business in different or opposite directions.

In this episode, we talk in depth about what it takes for a successful partnership

to work, why it's necessary to treat a business partnership like a marriage, anticipating

that some level of conflict is inevitable, and the key to the long-term success is your ability

to align on goals and work through the conflict together. Why multi-advisor partnerships

with three to five partners tend to be the

unhappiest because of those challenging interpersonal partnership dynamics as the number of

partners increase, and how the largest advisory firms often have the most stable partnerships

simply because they end out creating governance structures that facilitate multi-partner

...