Ep 223: Finding Success In Succession By Building Towards The Successor's Vision with Marianela Collado
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 6 April 2021
⏱️ 90 minutes
🧾️ Download transcript
Summary
Marianela Collado is the CEO and majority shareholder of Tobias Financial Advisors, an independent RIA based in Florida that manages over $500 million in AUM for 257 clients. Marianela navigated an accelerated succession plan laid out by the founder of Tobias Financial, and has successfully grown the firm from a one-person operation to a staff of sixteen with an eye towards a subsequent succession plan.
Listen in as Marianela explains why she decided to keep the name Tobias Financial Advisors and how she has created such a great client experience that many clients are eager to refer others to the firm. She also shares how they have built a diverse team of advisors and a support staff that has earned them industry recognition, as well as why a succession plan was essential to making sure the client transition was a smooth and positive experience.
For show notes and more visit: https://www.kitces.com/223
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 |
| 0:12.3 | financial advisors navigated the inevitable challenges that arise on the path to success, |
| 0:17.3 | and get insight from leading industry consultants about how to break through to the next |
| 0:22.0 | level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. Welcome |
| 0:28.9 | to the 223rd episode of the Financial Advisor Success podcast. My guest in today's podcast is |
| 0:34.7 | Marinella Collado. Marionella is the CEO and majority shareholder of Tobias Financial Advisors, |
| 0:40.1 | an independent R.A. based in Plantation, Florida, that services over 500 million of assets for just under 300 client households. |
| 0:47.6 | What's unique about Marianella, though, is that she is the next generation owner and leader of Tobias. |
| 0:52.1 | Having successfully navigated an unexpectedly accelerated succession plan laid out by the leader of Tobias, having successfully navigated and unexpectedly accelerated |
| 0:55.7 | succession plan laid out by the founder Ben Tobias, and in the years since, has grown the firm |
| 1:00.5 | from a one-person practice into a business with multiple lead advisors and an eye towards |
| 1:04.7 | developing the subsequent succession plan for the next next generation, all while intentionally |
| 1:09.9 | keeping the Tobias financial name. |
| 1:13.0 | In this episode, we talk in depth about how Marianel's deep background and expertise in tax |
| 1:18.0 | planning for ultra-high net worth individuals gave her instant credibility when coming into a practice |
| 1:23.0 | where clients had only ever worked with the founder. How her vision for building out a larger advisory business with the capacity to serve more clients didn't end up being a roadblock for the succession plan |
| 1:32.3 | since she and Ben shared the same foundational values around client service and advice. |
| 1:37.3 | And the subtle changes that Marianella made around the client experience and branding ahead of the final execution of the agreement that helped foster a sense |
| 1:45.2 | of natural transition from the client's perspective. |
| 1:48.4 | We also talk about how Marianella identified early on after joining the firm that in order to |
| 1:53.6 | create a solid foundation for growth in the future, she would have to formalize a development |
... |
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