From“Paper Tablecloth” Vision into 3X Revenue &4X Asset Growth

Some of the most successful businesses are born from concepts designed not in a boardroom or corner office on an expensive whiteboard, but instead in more austere environments.

That is, with just a pen and some paper.

Because it’s the ideas, goals and the vision to achieve them that matters most—not how or where they are developed.

And Gerry Goldberg provides proof of concept.

Because he and John Yolles sketched out what their RIA would look like on a paper tablecloth at a casual restaurant.

With $4B in assets, they left Wells Fargo FiNet to build their own firm, GYL Financial Synergies in partnership with Focus Financial Partners.

And just 5 years later, they’ve grown assets to $8.5B and tripled their revenue.

In this week’s featured podcast episode, he shares his story and some really sound advice about the potential of “missing out on the opportunity of a lifetime.”

Plus, it’s common for advisors to consider “following a friend” when thinking about a move. That is, a peer who left their firm and blazed a new trail at another.

Yet there’s a flaw in that plan: Because what’s right for them isn’t necessarily right for you.

This week’s featured article makes a case for following your own path.

Enjoy!

After growing their business to $4B at Wells Fargo FiNet, Gerry Goldberg and his partner felt that they weren’t independent enough. Longing to be true fiduciaries to their clients, they decided it was time to explore options for greater independence and in 2016 launched the RIA firm GYL Financial Synergies in partnership with Focus Financial Partners. It’s a story that is relevant and relatable to prospective breakaways and independent business owners alike. Yet what resonates most is his closing advice: Don’t let fear preclude you from exploring your options. While it’s easy to allow inertia to guide you, doing so can mean “you’ll miss out on the opportunity of a lifetime.” Listen To It

The Friend Factor: Should You Join Another Firm Just Because Your Friend Did?

While another advisor’s move may sound great, the reality is that every advisor’s business, clients, and vision for the future look different—and what works for them, may not work for you. Read It

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