In this episode of Profit & Practice, host Max Holvik speaks with Brad Wales, founder of Transition to RIA, a consulting firm focused exclusively on helping financial advisors understand whether and how to transition their practice to the RIA model. Max and Brad unpack the biggest misconceptions advisors carry about going independent. Brad breaks down the different pathways and "flavors" of joining an RIA, the two core motivations that drive advisors to make the move, why valuations and tax treatment almost always favor the RIA side at succession, and the single biggest (and most avoidable) mistake advisors make during a transition.

Brad Wales is the founder of Transition to RIA, bringing over 20 years of industry experience, including direct roles in compliance, finance, and business development within the RIA space. He also hosts the Transition to RIA podcast, with more than 150 episodes dedicated to helping advisors navigate the path to independence.

In this episode, we cover:

· The Biggest Misconceptions About Going Independent

· The Pathways into the RIA Model

· What Really Motivates Advisors to Make the Move

· Why RIA Valuations and Tax Treatment Usually Win

· The Most Common (and Costly) Transition Mistake

· How Established RIAs Can Better Attract Breakaway Advisors

· How the Transition Process Has Changed

Connect with Brad

Website: https://transitiontoria.com/

Podcast: Transition To RIA Podcast and Apple Podcast

LinkedIn: https://www.linkedin.com/in/bradford-wales/

Every episode closes with the same question: what's the best piece of financial advice Brad has ever received? Listen to find out.

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Profit & Practice is hosted by Max Holvik, founder of The Advisor's CFO, a fractional CFO practice for wealth management firms.

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In this episode, Cameo Roberson, founder of Atlas Park Consulting, joins us to talk about the four silent revenue leaks costing advisory firms growth, why $200 million to $1 billion in AUM is often a firm's "messy middle", and what leadership needs to align on before a big hire or new technology. Cameo also shares a real client story where undocumented onboarding cost a firm $30,000 in first-year revenue, and why that onboarding process is really an extension of your marketing.

Cameo Roberson is the Founder and CEO of Atlas Park Consulting, where she helps growing advisory firms strengthen the operating systems, leadership structure, and accountability needed to support their next stage of growth. With more than 20 years of experience across wealth management, operations, and business strategy, Cameo has worked with more than 100 firms and 150 advisors. She is also the co-author of Beyond the Broker.

In this episode, we cover:

· The four silent revenue leaks: client attrition, team underperformance, tech and workflow inefficiencies, and capacity bottlenecks

· The real cost of undocumented onboarding, a $3 million engagement that lost $30,000 in year-one revenue

· Why the $200 million to $1 billion AUM range is often a firm's "messy middle"

· What to align on before a big hire, or before adopting new technology

· The real difference between a Client Support Associate and a true operations leader

· Why owner dependency quietly erodes both efficiency and firm value

Connect with Cameo:

LinkedIn | https://atlasparkco.com/

Every episode closes with the same question: what's the best piece of financial advice Cameo has ever received? Listen to find out.

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Profit & Practice is hosted by Max Holvik, founder of The Advisor's CFO, a fractional CFO practice for wealth management firms.

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In this episode of Profit and Practice, host Max Holvik speaks with Catherine Tindall, a CPA and the principal of Dominion Enterprise Services. Max and Catherine dive deep into the weeds of financial management, tax optimization, and partnership accounting. While wealth management firm financials appear deceptively simple on the surface, Catherine explains why many advisors fall into the trap of bare-bones bookkeeping, problematic Chart of Account setups, and retrospective "compliance-only" tax relationships. She defines the costly reality of "tax waste": the cash lost to missed opportunities when a firm lacks a structured tax planning system. From designing a management-focused chart of accounts to drafting robust "business prenups" (operating agreements) before equity transitions, Catherine shares practical, high-impact strategies to help firm owners treat their financials as a strategic tool for enterprise growth.

Catherine Tindall is a CPA and the principal of Dominion Enterprise Services. She runs a specialized CPA firm focused on tax planning and compliance specifically for wealth management practices, including RIAs, broker-dealers, and independent practices. She also hosts the highly successful Financial Advisors Want to Know podcast, an educational podcast with over 100 episodes dedicated to helping advisors scale intelligently, save taxes, and build their practice to 7-8 figures the right way the first time.

In this episode, we cover:

· The Concept of "Tax Waste"

· The "Deceptively Simple" Financial Statement Trap

· Designing a Management-Focused Chart of Accounts

· Bookkeepers vs. CPAs & Separating Internal Controls

· The "Business Prenup": Operating Agreements in Equity Transitions

· AI in Accounting: The "Smart but Lying" Intern

Connect with Catherine:

Website: https://www.dominiones.com/

Podcast: Financial Advisors Want to Know Podcast Page and Apple Podcast

Newsletter Sign Up: https://dominion-enterprise-services.kit.com/9944b047d9

LinkedIn: https://www.linkedin.com/in/ctindallcpa/

Every episode closes with the same question: what's the best piece of financial advice Catherine has ever received? Listen to find out.

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Profit & Practice is hosted by Max Holvik, founder of The Advisor's CFO, a fractional CFO practice for wealth management firms.

TheAdvisorsCFO.com | LinkedIn

In this episode, Joe Popper, founder of Popper Tech Team, joins us to talk about cybersecurity, IT and AI in the wealth management space. As technology failures and security breaches become make-or-break business problems, Joe shares real-world cautionary tales and actionable frameworks for implementing AI, protecting against high-cost cyber threats, and staying compliant under the watchful eye of the SEC.

Joe Popper is the founder of Popper Tech Team, known by his clients as the OG IT and AI guy. He works with financial and professional services firms where technology failure isn't an option, helping them stay secure, operational, and ahead in a world where one small tech problem can quickly become a big business problem.

In this episode, we cover:

· AI, Cyber Security, and Compliance: Navigating the Tech Minefield for RIAs

· Protecting Your Client's Money: Fighting Cyber Threats and Business Email Compromise

· The AI Revolution in Wealth Management: How Small RIAs Can Leverage Tech to Scale

· Is Your RIA Ready for an SEC Audit? AI Governance and Compliance Essentials with Joe Popper

Connect with Joe:

LinkedIn | poppertechteam.com

Every episode closes with the same question: what's the best piece of financial advice Joe has ever received? Listen to find out.

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Profit & Practice is hosted by Max Holvik, founder of The Advisor's CFO, a fractional CFO practice for wealth management firms.

TheAdvisorsCFO.com | LinkedIn

In this episode of Profit & Practice, host Max Holvik sits down with Darci Smith, founder of Roklyn Consulting, to discuss the complex and rapidly evolving landscape of recruiting within the RIA space. While many firms lament a "talent shortage," Darci explains why the industry is actually suffering from a training shortage driven by the rise of automation and AI tools. She shares invaluable insights on how independent RIAs can leverage their unique brand stories to out-recruit larger wirehouses, the critical importance of defining clear career trajectories for support staff, and how to navigate the delicate succession planning process between G1 founders and G2 advisors.

Darci Smith is the founder of Roklyn Consulting, a boutique recruitment firm specializing in financial advisor placements. Originally building her recruiting career by helping collegiate and professional athletes transition to corporate roles, she has spent the last six years helping independent RIAs and wealth management firms optimize their talent, operations, and cultural alignment.

In this episode, we cover:

· The Training Shortage Myth

· Defining Culture Beyond the Clichés

· Avoiding the "Mini-Me" Hiring Bias

· The Crucial (and Misunderstood) CSA Role

· Spotting Candidate Red Flags

· Independent RIAs vs. Broker-Dealers

· Aligning Marketing with Recruiting

· The G1 to G2 Succession Epidemic

Connect with Darci:

LinkedIn | Roklyn Consulting

Every episode closes with the same question: what's the best piece of financial advice Darci has ever received? Listen to find out.

Connect with the Show:

Profit & Practice is hosted by Max Holvik, founder of The Advisor's CFO, a fractional CFO practice for wealth management firms.

TheAdvisorsCFO.com | LinkedIn

In the inaugural episode of Profit and Practice, host Max Holvik welcomes Angela Giombetti, the Chief Marketing Officer at Wealthspire. Angela is an award-winning marketing executive and is also the founder of ‘The In Crowd’ network. Having previously worked together at Private Ocean, Max and Angela reconnect to discuss the rapid evolution of RIA marketing over the past decade.

From the transition of printed physical newsletters to the frontier of AI-driven Answer Engine Optimization (AEO), Angela breaks down how marketing strategies must adapt as a firm grows from a boutique shop into a sizable enterprise. She shares actionable advice on balancing individual advisor brands with a cohesive corporate voice, navigating the SEC’s testimonial rules, managing M&A marketing integrations, and leveraging artificial intelligence to empower, rather than replace, your human marketing team

In this episode, we cover:

· The Evolution of RIA Marketing

· The Marketing "Sweet Spot" vs. Mega-RIA Complexity

· How to Drive True Organic Growth

· Balancing Advisor Personal Brands with the Enterprise Brand

· The Crucial Role of Marketing in M&A Integrations

· Navigating the SEC Testimonial Rule

· Common Digital Marketing Mistakes to Avoid

· AI: Empowering People, Not Replacing Them

Connect with Angela:

LinkedIn | https://www.wealthspire.com/

Every episode closes with the same question: what's the best piece of financial advice Angela has ever received? Listen to find out.

Connect with the Show:

Profit & Practice is hosted by Max Holvik, founder of The Advisor's CFO, a fractional CFO practice for wealth management firms.

TheAdvisorsCFO.com | LinkedIn

Profit & Practice explores the business decisions that determine whether a wealth management firm thrives or struggles. Hosted by Max Holvik, CFA, also known as The Advisor's CFO. First episodes drop in August: follow now so they're waiting for you.
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