Ep 286: Pursuing Intrapreneurship As A Path To Growth Within A Larger Firm with Matt Cosgriff
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 21 June 2022
⏱️ 90 minutes
🧾️ Download transcript
Summary
Matt Cosgriff is the Director of Wealth Management for BerganKDV, an independent RIA based out of Minnesota that oversees more than $2 billion in assets for 1,000 households. Matt has a unique career path, having leveraged the launch of a specialized division within BerganKDV and creating a path toward leadership of the entire RIA.
Listen in as we talk about how he got the opportunity to operate as an intrapreneur within the firm and developed a separate brand that catered to next-generation clients, as well as how his role as an intrapreneur also led to him having to ‘side hustle’ in a new retirement plan practice to justify his salary. You’ll learn how he shifted from a career focus to a leadership path, the challenges he faced when he became the Director of Wealth Management at the age of 29, and the keys to a successful career in the financial planning industry.
For show notes and more visit: https://www.kitces.com/286
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 |
| 0:13.1 | advisors navigated the inevitable challenges that arise on the path to success and get insight |
| 0:18.7 | from leading industry consultants about how to break through to the |
| 0:22.1 | next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:29.2 | Welcome to the 286 episode of the Financial Advisor's Success podcast. My guest on today's podcast is |
| 0:35.1 | Matt Cosgrove. Matt is the Director of wealth management for Bergen KDV, |
| 0:38.9 | an independent RA that operates as a division of a regional accounting firm based in Bloomington, |
| 0:43.3 | Minnesota, and oversees more than $2 billion in assets for 1,000 client households. |
| 0:48.6 | What's unique about Matt, though, was his path to launch and build a specialized division within |
| 0:52.8 | the firm as an intrapreneurship opportunity |
| 0:55.5 | to serve next generation clients and then leverage that to create a career path for himself |
| 1:00.1 | towards leadership of the entire $2 billion RIA. |
| 1:04.0 | In this episode, we talk in depth about how, despite his relatively young age and lack of |
| 1:08.5 | CFP marks at the time, Matt was able to get the opportunity to operate, not as an entrepreneur starting his own firm, but as an entrepreneur |
| 1:14.9 | inside of Bergen KDV to develop and operate a separate brand catering to next generation |
| 1:19.8 | clients. |
| 1:21.0 | How even though Matt was given some autonomy to launch his division, he struggled with having |
| 1:25.2 | to side hustle within the firm by also supporting a new |
| 1:28.4 | retirement plan practice and working with their smaller wealth management retirement clients to |
| 1:32.9 | justify his entrepreneur salary. And how Matt ultimately shifted his career focused toward a leadership |
| 1:38.3 | path after he realized he enjoyed working more on developing and growing and scaling the business |
... |
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.