Ep 190: Scaling An Advisory Firm By Finding New Talent Outside The Financial Services Industry with Stacey McKinnon
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 18 August 2020
⏱️ 101 minutes
🧾️ Download transcript
Summary
Stacey McKinnon is the Chief Operating Officer for Morton Capital Management, an independent RIA based in Los Angeles that oversees nearly $2 billion worth of assets under management for nearly 1,000 households. Stacey was formerly a wedding coordinator and operated a Pilates studio before entering into the financial services industry, which is indicative of Morton's non-traditional hiring approach that has been such a major part of their success.
Listen in as Stacey discusses the shortage of talent in financial services and why many firms may be casting the net too narrowly when looking for the right people to hire. You’ll learn why Morton hires for personality and culture fit before hiring for skills, why trust is so important within a team, and the importance of building something unique at the firm level in order to create a more rewarding environment for advisors and more financial security for the firm.
For show notes and more visit: https://www.kitces.com/190
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 |
| 0:07.2 | financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading financial |
| 0:13.0 | advisors navigated the inevitable challenges that arise on the path to success and get insight |
| 0:18.6 | from leading industry consultants about how to break through to the next |
| 0:22.3 | level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:28.5 | Welcome to the 190th episode of the Financial Advisor Success podcast. My guest on today's podcast is |
| 0:34.7 | Stacey McKinnon. Stacey is the chief operating officer for Morton Capital, an independent RIA based in the |
| 0:40.2 | suburbs of Los Angeles that oversees nearly two billion of assets in our management for |
| 0:44.0 | almost 1,000 client households. |
| 0:46.6 | What's unique about Stacey, though, is the firm's non-traditional approach to hiring talent |
| 0:51.0 | from outside the financial services industry to grow and scale, a path that |
| 0:55.2 | Stacey herself has followed, having previously been a wedding coordinator and operated a Pilate |
| 0:59.9 | studio before career changing into the financial services industry and successfully climbing |
| 1:05.0 | the ladder to become Morton Capital's chief operating officer. |
| 1:08.6 | In this episode, we talk in depth about how Stacey has developed hiring practices to spot |
| 1:13.6 | talent from outside the industry, why she's pursued everyone from teachers who have a |
| 1:18.3 | demonstrated ability to educate and give up themselves, to someone who's previously worked |
| 1:22.4 | in a rehab center with a demonstrated ability to show empathy for people in difficult situations, |
| 1:28.2 | to the manager of a coffee house who had shown through his own work experience that he really knew |
| 1:32.3 | how to care for his team. The in-depth interview process that Stacey's firm uses to evaluate |
| 1:38.2 | both prospective job skills and culture fit over a series of five to six meetings, and the career |
| 1:43.9 | track that Morton has created |
... |
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.