Ep 343: The Evolution Of Super-OSJ Platforms To Support Independent Advisors With Rita Robbins

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 25 July 2023

⏱️ 99 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rita Robbins is the Founder and President of Affiliated Advisors, a Super-OSJ with Royal Alliance that supports 90 financial advisors and collectively manages $3.5 billion in assets under advisement. Rita stands out for her pioneering role in establishing one of the first woman-owned Super-OSJs nearly three decades ago. She has observed the transformation of the super-OSJ model from providing local oversight of brokers selling proprietary products to becoming back-office platforms that offer an increasingly open-architecture product shelf along with compliance, technology, marketing, business management, and other support to independent financial advisors.

Listen in as Rita shares her journey through the evolution of broker-dealer platforms, her strategies for growing her platform, and how her firm thrived during the pandemic due to its robust technological support. Drawing from her decade-long experience as a wholesaler, Rita discusses the launch of her own OSJ, the expansion of her platform's leadership, and her deep understanding of the advisor community's needs. She also opens up about early-career pressures, a traumatic embezzlement incident, and her ongoing struggle with focusing on uncontrollable factors while navigating business challenges and cycles.

For show notes and more visit: https://www.kitces.com/343

Transcript

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0:00.0	Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with
0:06.8	financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading
0:12.1	financial advisors navigated the inevitable challenges that arise on the path to success,
0:17.2	and get insight from leading industry consultants about how to break through to the next
0:21.9	level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone.
0:28.7	Welcome to the 343rd episode of the Financial Adviser Success Podcasts. My guest on today's podcast is
0:34.4	Rita Robbins. Rita is the founder and president of affiliated advisors,
0:38.2	a Super OSJ with Royal Alliance that provides support to 90 financial advisors and collectively oversees
0:43.3	$3.5 billion in assets on her advisement. What's unique about Rita, though, is how, as the founder of one of the
0:48.8	first women-owned Super OSJs nearly 30 years ago, she has witnessed firsthand the evolution of the Super OSJ model
0:55.6	from providing local oversight of brokers selling proprietary products decades ago,
1:00.4	into back office platforms that provide an increasingly open architecture product shelf
1:04.6	coupled with compliance, technology, marketing, business management, and other support
1:09.0	to independent financial advisors.
1:15.1	In this episode, we talk in depth about how Rita experienced the evolution of the broker dealer platform throughout her decades-long career where technology and compliance that was once
1:19.8	the core of what Super OSJs provided is now increasingly supplanted by more in-depth services
1:25.1	to support their advisors.
1:27.0	How Rita has grown and scaled her
1:28.4	platform by focusing on three levers of recruiting advisors, organic growth from the advisors
1:32.7	and platform itself, and inorganic growth from advisors buying and selling practices.
1:37.4	And how the growth of Rita's firm accelerated in the pandemic, because of the middle and back
1:41.6	office support it provided with its advisors through technology, including and especially the ability to work remotely as so many banks and
	...

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