Ep 168: Building An Advisory Firm That Can Be Sold Even When Your Name Is Still On The Door with Erin Botsford
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 17 March 2020
⏱️ 111 minutes
🧾️ Download transcript
Summary
Erin Botsford is the founder of Botsford Financial Group, a hybrid RIA with the LPL platform that oversees $1 billion in assets under management. Erin has built and evolved her firm over the years, starting out with it being centered around herself as the lead advisor and ultimately selling the firm but keeping her name on the door. Today she joins the show to discuss how she built her business over the past 30 years, as well as the transformation she made in the first decade of her career.
Listen in as we discuss the shift she made from lead advisor to CEO and how she nearly tripled the growth of the firm in the three years that followed. You will learn how she developed herself into a lead rainmaker role (despite admittedly not being a natural businesswoman), how she shifted control of client relationships, and more.
For show notes and more visit: https://www.kitces.com/168
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner, |
| 0:08.4 | speaker and consultant Michael Kitsis to hear stories of how leading financial advisors |
| 0:13.5 | navigated the inevitable challenges that arise on the path to success and get insight |
| 0:18.5 | from leading industry consultants about how to break through to the |
| 0:21.9 | next level in your advisory business. And now here's your host, Michael Kitsas. |
| 0:27.7 | Welcome, everyone. Welcome to the 168th episode of the Financial Advisor Success Podcast. |
| 0:33.5 | My guest on today's podcast is Aaron Botsford. Aaron is the founder of Botsford Financial Group, a hybrid RA with the LPL platform that oversees nearly one billion in assets under management with offices in Dallas and Atlanta. |
| 0:45.2 | What's unique about Aaron, though, is the way that Aaron built and evolved her firm over the years, from being entirely centered around herself as the lead advisor, to the end where even still |
| 0:55.7 | having her name on the door of the firm, Botsford Financial Group, presented no impediment at all |
| 1:00.3 | to her selling the firm and transitioning the clients. |
| 1:02.8 | Because in the end, it's far more about the mentality of the founder to build the business |
| 1:06.6 | beyond themselves than how they happen to name the firm. |
| 1:10.1 | In this episode, we talk in depth about how Aaron built her advisory firm over the past 30 years. |
| 1:15.3 | The transformation she went through after spending the first 10 years of her career |
| 1:18.6 | working hard to grow to $300,000 in gross revenue, and then after a breakthrough coaching |
| 1:23.2 | session made a deliberate shift to transition herself from lead advisor of the firm to being |
| 1:28.2 | rainmaker and CEO instead, and nearly 10xed the growth of the firm in barely three years |
| 1:33.3 | later. How Aaron developed herself into a lead rainmaker role for the firm after self-admittedly |
| 1:39.0 | not being a natural business developer and the way that Aaron balanced letting go of being |
| 1:43.4 | the lead in client relationships, but still maintaining vigilant oversight of the firm and that the work was being |
| 1:48.5 | done properly for clients. We also talk about how Aaron actually shifted control of client |
| 1:53.7 | relationships and execution of the firm, the three-meeting approach she used to transition clients, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Michael Kitces, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Michael Kitces and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.