Ep 433: When You 10X Your Advisory Firm To Over $20M Of Revenue… And Want To 10X Again with Cameron Passmore
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 15 April 2025
⏱️ 90 minutes
🧾️ Download transcript
Summary
Cameron Passmore is the CEO of PWL Capital, a wealth management firm based out of Ottawa, Canada, that oversees just over $5 billion Canadian dollars (or approximately $3.5 billion U.S. dollars) in assets under management for 2,400 client households. What’s unique about Cameron is that after growing his firm’s revenue from $2 million to over $20 million as an independent firm over the past decade, he recognized that the next phase of growth required a different approach. By combining with a larger financial conglomerate, he positioned the firm to pursue another 10X growth opportunity in the decade ahead.
Listen in as Cameron shares how his firm achieved explosive growth by serving early Shopify employees, building a content engine that has served as a key driver of inbound leads, and differentiating through a planning-first, passive investing approach that is not typical in the Canadian advice landscape. Cameron also discusses his firm's investment in an institutional-grade data lake to enhance the client experience, how their planning teams operate efficiently at scale, and why always being open to new connections has led to some of his biggest business opportunities.
For show notes and more visit: https://www.kitces.com/433
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. |
| 0:29.1 | Welcome to the 433rd episode of the Financial Advisor's Success Podcast. My guest to today's podcast |
| 0:34.8 | is Cameron Passmore. Cameron is the CEO of PWL Capital, a wealth management firm based in Ottawa, Canada, |
| 0:41.1 | that oversees just over $5 billion in Canadian dollars, or about $3.5 billion, |
| 0:45.4 | in assets under management for about 2,400 client households. |
| 0:50.2 | What unique about Cameron, though, is how after 10xing the firm's revenue from $2 million |
| 0:54.0 | and more than $20 million over the course of the past decade as an independent, his firm |
| 0:57.9 | decided that combining with a larger financial conglomerate would provide the best opportunity |
| 1:01.9 | for the business to achieve its next round of 10x growth in the decade to come. |
| 1:06.4 | In this episode, we talk in depth about how Cameron's firm experienced significant client |
| 1:10.6 | and revenue |
| 1:11.0 | growth by serving the CEO and employees of e-commerce platform Shopify early in its growth |
| 1:15.7 | path, eventually leading to massive AUM growth after the company's IPO. |
| 1:19.9 | How Cameron's firm managed to generate over 1,100 inbound leads resulting in more than 200 new |
| 1:25.1 | clients in just the past year loan, driven primarily by |
| 1:27.8 | their thought leadership content, including his rational reminder podcast, a YouTube channel, |
| 1:32.6 | and White Papers. And how Cameron's planning focus and passive investing approach has helped |
| 1:37.3 | his firm stand out amongst the bank and brokerage dominated Canadian financial advice |
... |
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