Ep 222: Scaling Growth By Separating Prospecting And Leadership From Client Advice with Jonathan Kuttin
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 30 March 2021
⏱️ 90 minutes
🧾️ Download transcript
Summary
Jonathan Kuttin is the founder of Kuttin Wealth Management, a hybrid RIA based out of Long Island, New York that manages over $3 billion dollars for 5,500 clients. Kuttin Wealth has grown to the point where Jonathan made the decision to separate client-facing service from leadership and operations, which allows for employees to focus solely on what they’re truly good at—and has allowed the firm to grow even further.
In this episode, Jonathan explains why he created three distinct roles within his firm and how this silo of roles has led to both superior results and better clarity around responsibilities within the firm. He also shares the hard lesson he learned about the importance of legal agreements, the five leadership areas he cultivates in every area of the firm, and why supporting employees to get what they want out of life is a cornerstone principle of his firm.
For show notes and more visit: https://www.kitces.com/222
Transcript
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| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with |
| 0:07.1 | financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading |
| 0:12.4 | financial advisors navigated the inevitable challenges that arise on the path to success |
| 0:17.4 | and get insight from leading industry consultants about how to break through to the next |
| 0:22.2 | level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:28.4 | Welcome to the 22nd episode of the Financial Advisor's Success Podcast. My guest on today's |
| 0:34.3 | podcast is Jonathan Cutton. John is the founder of Cutton Wealth Management, |
| 0:38.3 | a hybrid RAA headquartered on Long Island, New York that manages over $3 billion for about 5,500 clients. |
| 0:45.2 | What's unique about John, though, is that as his firm grew to the point where it became necessary |
| 0:49.0 | to separate client service from leadership and operation of the business, John didn't hire a CEO |
| 0:53.8 | to run the firm |
| 0:54.7 | and instead made a deliberate decision to move himself away from a client-facing role of working |
| 0:59.1 | in the business so that he could spend all of his time working on the business and developing |
| 1:03.4 | its systems and culture instead. In this episode, we talk in depth about how John carved out |
| 1:09.0 | three distinct roles within his firm that allows |
| 1:11.3 | employees to focus solely on what they're good at, creating both superior results and clarity |
| 1:15.6 | around responsibilities within the firm itself. Why John has found that the business is growing |
| 1:20.0 | better by getting his advisors completely out of the prospecting business and focused on delivering |
| 1:24.5 | an amazing client experience. And how John has powered the growth of the firm |
| 1:28.2 | by separately building a CPA referral program to bring in prospects that his advisors then closed |
| 1:33.4 | by leveraging the borrowed trust they received from those CPA referrals. |
| 1:38.1 | We also talk about the way the entrepreneurial itch influenced John's decision to leave his |
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