Home Wealth Management Mindy Diamond Podcast: Verdence’s Leo Kelly on Breaking Away Twice

Mindy Diamond Podcast: Verdence’s Leo Kelly on Breaking Away Twice

Mindy Diamond Podcast: Verdence’s Leo Kelly on Breaking Away Twice


“Joyful, however not happy.”

It’s a standard chorus we hear from prime advisors and their groups who’re in the end pushed to alter not as a result of they’re sad with the established order. However, as a substitute, as a result of they really feel a pull towards one thing higher.

Such was the case of Leo Kelly and his crew at Merrill, The Kelly Group. Having constructed the enterprise to some $600 million in property beneath administration, the pull of entrepreneurialism and being a real fiduciary to their purchasers was too robust to disregard.

So in 2012, they made the leap to Hightower Advisors and in 5 years doubled their enterprise.

However by 2017, Leo felt Hightower was entering into a unique path than they have been. That motivated them to make yet one more leap, this time to full-on independence, launching Verdence Capital Advisors.

5 years later, the agency is now managing $3 billion in consumer property—greater than doubling the enterprise as soon as once more.

So what’s driving all of this unimaginable success? Leo shares that and extra with Mindy Diamond, together with:

  • The preliminary pull towards independence—and why they opted to make the leap from Merrill with Hightower as a substitute of launching their very own RIA.
  • The selection to go away Hightower 5 years later—and what they’re able to do otherwise as Verdence Capital Advisors.
  • The agency’s hyper-focus on tradition—and why descriptors like “collaborative” and “household” should not simply phrases in a price proposition however a lifestyle.
  • The worth of designing the agency “as if the consumer is the architect”—and the way that has translated to enhanced development.
  • Their platform-based enterprise—and the way offering entry to consumer sources helps the advisors who be a part of them deepen connections with purchasers, create new relationships, and develop their companies.
  • Plus, Leo talks in regards to the strategic minority funding from distinguished capital backer, Emigrant Companions—and the worth of taking over the appropriate accomplice on the proper time, and far more.

Obtain a transcript of this episode…

Take heed to extra episodes of Mindy Diamond on Independence: A Podcast for Monetary Advisors Contemplating Change.



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