A Year In Review For My RIA Lawyer

This week’s newsletter is going to be a little bit different. This year we wanted to share some of our own story with you as we reflect on the year that’s been and what it has meant to the team here at My RIA Lawyer.

In 2023, our journey took a profound turn away from the relentless pursuit of growth by revenue to a more purposeful pursuit of growth by creating a thriving company culture and exceptional client experience. Shifting our focus towards people and culture became the cornerstone of our strategy, emphasizing the importance of fostering happy staff who perform above and beyond everyday and satisfied clients who rave about our service in their reviews. Rather than fixating on mere financial gains, we delved into the intricacies of how we could enhance the experiences of both employees and clients.

Our commitment to outperforming existing market standards led us to a deeper exploration of innovation. Unsurprisingly, this dedication to standing out and offering unparalleled value translated into not only attracting the cream of the crop attorneys and compliance professionals, but also growth in our revenue. In fact, with our more culturally aligned employees, our firm was able to help more clients at a higher level of service than we have ever been able to provide before.

To attract our A players we made these changes in 2023:

Our first interviews with prospective new employees now are totally focused on culture. If you can’t illustrate that you are hungry, humble and smart, you don’t move to the second interview

We successfully rolled out a 4-day work week. Our employees get more time with family and show up to work happier, rested and ready to serve clients. Employees pick their day off so that clients always have access to our team but employees can have the flexibility of choosing a day that works best for them.

We instituted a mid-year retreat to Atlanta, so the team can meet in person and discuss how we can pivot to make our services and business functions better

We changed the format of our annual retreat so that there is a balance of work and play.

We instituted objectives and key results (or OKRs), which involves our employees in helping to build our firm- whether it is implementing processes, creating video and written how-tos or developing resources for our clients, each team member is actively involved in making the firm more efficient, effective and consistent.

We promoted Jill Veenstra to Director of Compliance. By leveraging her nearly 30 years of BD and RIA compliance experience, we are building a more knowledgeable, skilled and cohesive compliance team under her leadership.

We added a technology stipend for each employee to use to purchase new computers, increase their internet speeds and buy other equipment which they may need to optimize their everyday work.

And so much more!

Looking ahead to the coming year, our intensified focus on you, our clients, is already in motion. The recent addition of a Client Satisfaction Specialist to our team underscores our commitment to advocate for you and ensure your needs are not just met but exceeded.

The past year has also been a period of significant team development, helping us discern our identity. We're not aligned with the model of a high-volume, low-value compliance service (aka the cheap and impersonal alternatives to compliance). Our aspirations go beyond providing typical services and experiences. As part of our evolution, we've decided to phase out consultative services this coming year for something more robust (more info coming soon!), recognizing that true support involves more than advice; it requires hands-on action. We aim not just to guide you but to actively contribute to your success, understanding that sometimes, telling isn't enough – doing is.

As we reflect on 2023, it's clear that our journey has been transformative, driven by a commitment to prioritizing people, cultivating innovation, and redefining industry norms. We eagerly anticipate the opportunities and growth that await in the upcoming year as we continue to evolve and elevate your experience with us. Cheers to a future shaped by purpose and excellence!

Have a wonderful start to 2024!

Leila