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Ep.14: Carolyn Armitage: Leadership Lessons for Sustainable Business Growth
11 Plays5 months ago
With the day-to-day challenges of running a business, establishing and executing on a strategy to grow a firm’s enterprise value can fall to the bottom a leader’s priority list.
Which begs the question, at what point does the founder, CEO, and chief rainmaker decide which hat is most important?
In this episode, Carolyn Armitage, Founder & CEO of RIA CircleTM and Carolyn Armitage Consulting, joins hosts Bill Coppel, Chief Client Growth Officer at TradePMR, and Ryan Neal, Senior Editor at TradePMR, to dive into this question.
Listen as they explore:
Strategies for building a business that’s sustainable beyond its founders
Why identifying the right firm leader isn’t always easy
Ways to manage internal and external succession transitions
Subscribe now, and connect with us on social media:
Get the transcript for this episode, with sources, at https://synergizepodcast.com/.
About Carolyn Armitage
Carolyn is the Founder & CEO of RIA CircleTM and Carolyn Armitage Consulting – two companies designed to help industry leaders shorten their learning curves and achieve better results.
She is a former independent financial advisor, producing branch manager, and wealth management firm leader. Before her most recent role heading up Thrivent’s independent RIA, Carolyn provided investment banking and consulting services including strategic planning, compensation design and equity sharing structuring, valuation, expert witness, and succession solutions through the firm ECHELON Partners.
Carolyn Armitage, RIA CircleTM, and Carolyn Armitage Consulting are not affiliates of TradePMR.
More About Carolyn:
LinkedIn: https://www.linkedin.com/in/carolynarmitage/
Website: https://carolynarmitageconsulting.com/background
RIA Circle: https://www.riacircle.com/
If you want to join the conversation or connect with us, please visit us at synergize.advisorevolutionsciences.com. This content is provided for general informational purposes only. The views expressed by non-affiliated guest speakers are their own, and do not necessarily reflect the opinion of TradePMR or its affiliates. TradePMR and its affiliates do not endorse any guest speakers or their companies, and therefore give no assurances as to the quality of their products and services. This channel is not monitored by TradePMR. TradePMR does not provide investment advice, tax advice or legal advice. TradePMR is a Member of FINRA and SIPC. Trade-PMR, Inc. is registered with the Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB). TradePMR provides brokerage and account services to registered investment advisors. Custodial services provided by First Clearing. First Clearing is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company. Copyright 2024 Trade-PMR, Inc.
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Transcript
Introduction to Synergize Podcast
00:00:01
Speaker
Welcome to Synergize, unscripted conversations where we explore the evolving role of the financial advisor in an emerging AI-driven world.
00:00:11
Speaker
Join us as we bring together thought leaders across a range of disciplines and industry experts, sharing insights designed to help RIAs thrive in the industry of tomorrow.
Meet the Hosts: Bill Capell and Ryan Neal
00:00:23
Speaker
Hi, I'm Bill Capell, Chief Client Growth Officer at Trade PMR.
00:00:27
Speaker
And I'm Ryan Neal, Senior Editor at Trade PMR, and welcome to the Synergize Podcast.
00:00:32
Speaker
So Ryan, I think today's topic will resonate with a lot of our listeners.
Adapting Growth Strategies in a Fast-Changing Landscape
00:00:36
Speaker
We're finding that the growth strategies that served them well in the past are not necessarily going to help them get to where they want to be going forward.
00:00:43
Speaker
That's right, Bill.
00:00:44
Speaker
Everything's changing today so fast, both in our everyday lives and at work, and advisors are no exception.
00:00:50
Speaker
It really comes down to needing to adapt if you want to stay relevant and competitive in today's evolving landscape.
00:00:57
Speaker
So with all the challenges that come with running and growing a business, it can be really difficult for advisors to establish and execute on a growth strategy if they want to capitalize on all of the growth opportunities we've been talking about on this podcast.
Leadership Challenges: Rainmaker vs CEO
00:01:10
Speaker
So today what we want to do is really dive into the specifics of what advisors need to do at the leadership level if they want to achieve sustainable organic growth.
00:01:20
Speaker
That's right, Ryan, and that's a great question.
00:01:23
Speaker
The right leadership is critical for building a sustainable business and identifying the right leader isn't always that easy.
00:01:31
Speaker
A mistake I've seen repeated over and over again in our industry is assuming that someone who's very successful as an advisor is going to make a great leader.
00:01:39
Speaker
There are great leaders and there are great advisors, and I've rarely seen one person successfully wear both hats.
00:01:46
Speaker
For advisors running an RIA, there's a point in time where they need to decide whether they're going to be a rainmaker or the CEO.
00:01:54
Speaker
Our guest Carolyn Armitage is here to help us explore some of these critical leadership issues.
00:02:02
Speaker
Let's face it, most of the advisors in our industry are a driver type personality who really appreciate having some of that control.
00:02:13
Speaker
And as the firm grows, one needs to recognize that you will go through different stages throughout your career and that you'll need to be able to manage yourself and your own expectations and your limits.
00:02:28
Speaker
and recognize the value of others and how they play into your success.
00:02:33
Speaker
When you can accept and adapt, that's when you'll be able to get through each one of the growth cycles that you find yourself in.
Introducing Carolyn Armitage
00:02:44
Speaker
Carolyn is an industry veteran and a wealth management consultant providing a range of services, including strategic planning, leadership development, and talent management.
00:02:55
Speaker
Carolyn, thanks for joining us.
00:02:58
Speaker
Thank you, Bill.
00:02:59
Speaker
Thank you, Ryan.
00:03:00
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It's a pleasure to be here.
00:03:01
Speaker
Let me start with this question.
00:03:03
Speaker
Carolyn, you've been a financial advisor.
00:03:06
Speaker
You've held a variety of leadership roles in the wealth management industry.
00:03:10
Speaker
In your consulting work, what are some of the biggest pain points you're seeing for RIAs seeking to grow?
00:03:17
Speaker
So I think there are so many options for
Challenges and Focus for RIAs
00:03:20
Speaker
advisors.
00:03:20
Speaker
And of course, it depends on where they are in the growth cycle or their business cycle and what they're looking to achieve.
00:03:28
Speaker
I think sometimes advisors forget the core fundamentals, which are managing yourself first, managing your team, and then executing or managing the projects.
00:03:45
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And that lack of focus can make the business and really themselves and the team not operate like a team and not operate optimally.
00:03:57
Speaker
So for example,
00:03:59
Speaker
you'll find a lot of advisors who become CEOs.
00:04:04
Speaker
They started off as very successful individual producers and their success attracted others to them and their organization, which is terrific.
00:04:15
Speaker
And that leads to really early hockey stick growth.
00:04:19
Speaker
And then as you add more people, that very successful individual advisor struggles to maintain the control that they had in the beginning.
00:04:31
Speaker
And let's face it, most of the advisors in our industry are a driver type personality who really appreciate having some of that control.
00:04:43
Speaker
And as the firm grows,
00:04:45
Speaker
One needs to recognize that you will go through different stages throughout your career and that you'll need to be able to manage yourself and your own expectations and your limits and recognize the value of others and how they play into your success.
00:05:04
Speaker
And...
00:05:05
Speaker
having that awareness of yourself and that appreciation and acceptance that you can't do it alone and that you can't control everything and be all-knowing in all of your different departments and firms that you need to rely on others.
Outsourcing for Efficiency and Focus
00:05:21
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When you can accept and adapt, that's when you'll be able to get through each one of the growth cycles that you find yourself in.
00:05:30
Speaker
Let's dive into that for a minute, because I love this idea.
00:05:33
Speaker
The advisor working at a larger firm maybe is very successful, great at working with clients, decides to go independent, things are going pretty well, but if they want to get to that next level, there's more that comes into it, right?
00:05:46
Speaker
There's more complexity.
00:05:47
Speaker
And not every advisor that did all those great things and brought in clients and great at managing money and financial planning and all that stuff isn't necessarily going to be good at running a business.
00:05:57
Speaker
I think like in journalism, I saw all the time, really excellent reporters got promoted to editor, not the best editors or not the best at managing folks.
00:06:06
Speaker
So...
00:06:07
Speaker
What do advisors need to do?
00:06:09
Speaker
How can they do that?
00:06:10
Speaker
Especially, as you said, they like to have control.
00:06:15
Speaker
What can they do if running a business isn't their forte, but they do want to keep growing?
00:06:21
Speaker
Yeah, there are so many options today, more than there ever have been in the history of our financial services industry, really, in that advisors can easily, very easily plug into another organization that has all of their back office, middle office functions working.
00:06:41
Speaker
or they can also hire consultants and independent contractors to help them for most of their business, right?
00:06:51
Speaker
You can outsource your compliance elements.
00:06:55
Speaker
You can outsource virtual admin help and receptionist work.
00:07:00
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You can outsource for mentors, strategic leaders, coaches,
00:07:07
Speaker
to really help guide you.
00:07:09
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And part of the heavy lifting with the asset management side, we find a lot of advisors these days are outsourcing to TAMPs to take off that heavy lift of needing to manage the assets locally in-house.
00:07:24
Speaker
And all of that keeps the advisor more in their kind of happy place in dealing with clients and servicing and making those services better each and every day.
00:07:37
Speaker
So let me follow up on that, Carolyn, because my thought here is that, you know, we tend to think of the world in absolute sections, right?
00:07:46
Speaker
Absolute moments.
00:07:47
Speaker
It's a very, you know, today we're going to do this and tomorrow we're going to do that.
00:07:51
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We need it, you know, we've got to figure out who's going to lead the business.
00:07:55
Speaker
And what I found over time is that it takes time for these things to happen.
00:08:01
Speaker
Right.
00:08:01
Speaker
And so, for example, could you outsource the role of CEO as sort of a bridge to figure out who the right person is to lead your firm?
Fractional CEOs: Strategic Guidance
00:08:12
Speaker
Yes.
00:08:12
Speaker
So a lot of advisors will utilize a fractional CEO.
00:08:17
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For example, I do that with some of my clients.
00:08:20
Speaker
And what I do is I come in on a strategic basis to help them figure out which path to go down, what their priorities can be, sometimes what their strengths are, right?
00:08:34
Speaker
It's hard to...
00:08:36
Speaker
really see your label inside the jar.
00:08:40
Speaker
And so advisors don't always have the objectivity that an outside consultant can have.
00:08:46
Speaker
Sometimes they hire consultants for validation of their thoughts that they want to go down in their strategic paths.
00:08:53
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Other times they truly have confusion and they want someone to bring clarity to the situation.
00:09:00
Speaker
So think of it like a business coach of someone helping them measure the right KPIs
00:09:06
Speaker
help them through the leadership challenges of managing people, which we are in a people business.
00:09:13
Speaker
The largest expense item on your income statement is the human capital side.
00:09:19
Speaker
It is the most complex and it needs never ending nurturing, just like your client relationships do.
00:09:28
Speaker
Remember that your employees are your first internal client before you even get to your end clients.
00:09:37
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So how would you advise, you know, I've started a firm.
00:09:42
Speaker
I was very successful.
00:09:44
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I've attracted some other very successful advisors.
00:09:48
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I've been leading this effort.
00:09:50
Speaker
How would you coach me around knowing when it's the right time for me to step aside or make a decision whether I'm going to be a rainmaker or a CEO?
00:10:00
Speaker
Share your thoughts around what are the kind of triggers that, as an advisor, I should be thinking about and I should be considering it's time for me to pick one or the other.
00:10:13
Speaker
Yeah, that's a great question, Bill.
00:10:15
Speaker
And I've dealt with some dysfunctions in organizations more times than I would like, quite frankly.
00:10:25
Speaker
They can be very challenging situations.
00:10:27
Speaker
And what I mean by that is
00:10:30
Speaker
It's very difficult for us driver types to recognize and understand the signals that we get.
00:10:38
Speaker
We kind of dismiss them as a one-off or situational.
00:10:42
Speaker
And driver types like to do it all.
00:10:47
Speaker
And it's hard to take a step back and admit and accept that
00:10:54
Speaker
that they themselves can't be good at everything, that there are weaknesses, that there are people that could be better doing certain elements.
00:11:03
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you know, kind of that first step is admitting that there's an issue.
00:11:07
Speaker
And that can be really challenging for advisors to admit and accept.
00:11:13
Speaker
And so oftentimes, unfortunately, advisors do have some type of breaking element before a change is undertaken.
00:11:23
Speaker
So some of those elements may be a loss of a key employee, right?
00:11:30
Speaker
That they...
00:11:33
Speaker
Find that there's no joy anymore in the organization where they're kind of dreading, whether it's a client calling them or is dealing with employee issues or doing new business, like the funds out of it anymore.
00:11:48
Speaker
then that means they have gotten into too deep, too complex of ownership of issues.
00:11:56
Speaker
And they need to share out some of that accountability with others so that they can get back to their happy spot and spend their time for their best use and where they really love the business.
Maintaining Passion through Task Outsourcing
00:12:10
Speaker
Most advisors got into this business because they want to serve clients and they love helping clients.
00:12:16
Speaker
If ever you start to lose some of that joy where you can't wait till it's five or six o'clock for you to leave, that's a signal that needs to be paid attention to, that something needs to be outsourced, something needs to be shared with others of your responsibilities.
00:12:37
Speaker
Yeah, I love that phrase, that term you use, the fractionalized CEO, is that right?
00:12:44
Speaker
Yeah, I think we actually gave a shout out to that at a recent conference, one of our executive leadership used that term.
00:12:51
Speaker
I really love it, right?
00:12:52
Speaker
Because it's just, to me, it's that visual of being pulled in so many different directions and having to do things that aren't your skillset, right?
00:13:00
Speaker
Being forced to be a jack of all trades, a master of none, rather than leaning into what really made you successful in the first place.
00:13:07
Speaker
It's like, it's like, Ryan, it's like, you know, oh, my God, we need a new roof.
00:13:10
Speaker
Now I've got to figure out where I'm going to get the contract to do the new roof and all the detail around it.
00:13:16
Speaker
It's just maddening.
00:13:17
Speaker
If that's not your focus, it's not helping clients.
00:13:21
Speaker
Well, imagine if you had to go out and source all the materials and determine what type of nails to use and how long they need to be in the material they're being made of and hire all the different personnel being your own GC.
00:13:33
Speaker
That's a lot of elements that are probably outside of your skill set.
00:13:38
Speaker
That's right.
00:13:38
Speaker
And that's broader than, you know, we're using that sort of construction analogy or metaphor, I should say.
00:13:45
Speaker
But the reality of it is that so much of leadership is involved with so many of the things that aren't even directly connected with generating revenue or bringing in new AUM.
00:13:58
Speaker
Right.
00:13:59
Speaker
Well, that's why I live in New York and I rent an apartment.
00:14:02
Speaker
It's like outsourcing my house, I guess.
00:14:04
Speaker
Other people can fix everything for me.
00:14:06
Speaker
So I guess what I want to ask about is, where does M&A fit into this picture?
00:14:11
Speaker
You know, I guess kind of two parts.
00:14:13
Speaker
With two firms coming together, how do multiple people that maybe have done a lot and are –
00:14:21
Speaker
Wear a lot of hats and have different, you know, very controlling personalities.
00:14:24
Speaker
They're coming together.
00:14:25
Speaker
How do you navigate that?
00:14:27
Speaker
And then also for advisors, you know, looking to transition out of the business, leave a legacy.
00:14:32
Speaker
What does all this mean for them?
00:14:34
Speaker
Yeah, those are great questions,
M&A for Scaling and Succession Planning
00:14:36
Speaker
Ryan.
00:14:36
Speaker
So to take the first one, I think it is important to call out that the vast majority of advisors in our industry are not participating in M&A today.
00:14:52
Speaker
right?
00:14:53
Speaker
We hear about it a lot because it's very interesting.
00:14:56
Speaker
It can be very profitable and it is part of the evolution of our industry.
00:15:03
Speaker
We have been moving from this cottage industry to very large scale, professionally run organizations.
00:15:11
Speaker
And that has led to quite an evolution for the types and sizes of businesses that we have.
00:15:20
Speaker
the vast majority of advisors are keeping their head down, serving their clients and not considering M&A until it comes time for their own succession.
00:15:32
Speaker
So I do think M&A plays a very important part in the succession, whether it's an internal succession or external succession.
00:15:40
Speaker
And advisors do need to educate themselves and most importantly, have something documented, whether it's a continuity plan for those unexpected retirements, as well as a succession plan for the intentional retirements.
00:15:57
Speaker
So M&A is a terrific way to provide some scale.
00:16:02
Speaker
And actually, a lot of times M&A is being done from a talent perspective as well to bring in those value-added resources that maybe one of your local competitors have.
00:16:12
Speaker
And so if you can put your ego in check and understand that you're better together than separate and what got you from...
00:16:26
Speaker
your early point in time to hear are not the same skillset that will take you to the next level.
00:16:34
Speaker
If an advisor can set aside some of their ego elements, which frankly is often not done on their own.
00:16:40
Speaker
It takes a great deal of effort, awareness, self-assessment, some of that reality discussion so that they can come together and start to share, cooperate, collaborate,
00:16:55
Speaker
and work with another advisor and their office and their ideas.
00:17:00
Speaker
And frankly, the same discussion needs to happen when you're doing an internal transition as well, because oftentimes there's that kind of parent-child relationship for an internal transaction that those issues need to be overcome so that it can be more of a peer-to-peer relationship.
00:17:18
Speaker
And that usually doesn't happen in isolation.
Coaching for Trust and Authentic Leadership
00:17:21
Speaker
You know, what's interesting about that, Carolyn, as I think about it, that, you know, and I see this an awful lot with firms where, again, they're struggling to make decisions.
00:17:34
Speaker
They all want to be in on the decision making.
00:17:38
Speaker
And what it ends up doing is it ends up distracting all the producing advisors from,
00:17:44
Speaker
And so that notion of being very democratic in a business structure doesn't always work, which leads me to this question, which is, you know, leadership's a critical issue.
00:17:56
Speaker
And I also believe that how you organize yourself, the structure, your decision-making apparatus –
00:18:03
Speaker
is equally as important.
00:18:05
Speaker
And I think that as, you know, one of the telltale signs of a great advisor becoming a CEO and struggling is the notion of, you know, looking for buy-in from everyone on a decision they're making.
00:18:20
Speaker
And that's not always going to be easy to do.
00:18:22
Speaker
Talk to us a little bit about how you would coach an advisor, you know,
00:18:26
Speaker
in a leadership role about how to go about making a decision?
00:18:30
Speaker
And is it valuable that, you know, the distinction between leadership, right, and not leadership is to, as a leader, you want to, you know, create a condition where people are following you or following your lead.
00:18:45
Speaker
And, you know, share with us how you would think about or how you would coach somebody in making that transition from sort of this sort of how does everybody feel about it?
00:18:57
Speaker
Do we want to do it all for one and one for all?
00:19:00
Speaker
Or this is the direction we're going and here's where we're going.
00:19:04
Speaker
Yeah, it's a great, great source of conflict for firms that you're bringing up, Bill.
00:19:10
Speaker
And so I think...
00:19:13
Speaker
As firms are smaller, let's talk about, you know, the practices, those under 250, 300 million in assets under management, and even those that are under a billion dollars, the decision-making, quite frankly, is much easier because it usually rests with one or two or maybe three founders, owners of the firm.
00:19:38
Speaker
And so usually it is that, you know,
00:19:41
Speaker
decision where those owners make the decision and let everybody else know the direction you're going in.
00:19:48
Speaker
As the organization gets bigger, this is where you'll need to have that leadership team.
00:19:53
Speaker
And you do need to bring employees along with you, right?
00:19:57
Speaker
So how do you get them to follow you and your ideas?
00:20:01
Speaker
It all boils down to trust.
00:20:04
Speaker
It's trust and respect.
00:20:06
Speaker
All employees, even if they don't have a vote, they want to be seen, they want to be heard.
00:20:11
Speaker
And really that's true of everybody, right?
00:20:13
Speaker
In your relationships, you want to be seen and heard and appreciated.
00:20:18
Speaker
So leaders need to understand that about their employees too, to help bring them along in the process, right?
00:20:26
Speaker
So as a leader, you don't want to ask more of your employees than you're willing to do on your own.
00:20:32
Speaker
You want to be as authentic and real with your people as you can.
00:20:38
Speaker
If you're going through pain points in your life, whether it's personal, whether it's health related, whether it is financially with the business.
00:20:47
Speaker
If there's some strife that's going on with the business, let's say you're going through an audit or let's say you're being sued by somebody, you need to be real and not try to sweep those issues under the rug and not talk about it.
00:20:59
Speaker
Because employees know, they sense it all.
00:21:02
Speaker
Just kind of like children in a relationship, they know when mom and dad are fighting.
00:21:07
Speaker
They know those issues are there.
00:21:08
Speaker
So be real and talk about them.
00:21:11
Speaker
And there's real value in just discussing what some of those issues are.
00:21:16
Speaker
So as transparent as you can be, unless there's something very sensitive, like with a particular employee, obviously that wouldn't be broadly shared.
00:21:24
Speaker
But as you can share the successes and struggles of your business or you personally, the more you'll be bonding with folks, the more they will trust you and empathize with what you as a leader are going through.
00:21:41
Speaker
So you really need to
00:21:43
Speaker
see the team, like truly appreciate the individuals as well as a collective team for who they are and be humble enough to ask for their help.
00:21:55
Speaker
And that can be challenging for a newer CEO as they were, you know, in the past they have been used to
00:22:04
Speaker
providing all the answers, like having all the answers.
00:22:07
Speaker
And as you get to a larger and larger organization, more complex issues, you're not going to have all the answers.
00:22:12
Speaker
And it can be really humbling to say, hey, I need your help.
00:22:16
Speaker
Let's brainstorm this idea.
00:22:17
Speaker
How can we solve for this?
00:22:20
Speaker
And so that leadership, you really need to demonstrate that you care and that you trust your team.
00:22:26
Speaker
Yeah, sort of, I guess, a common refrain I keep hearing you come down to is just, you know, that self-realization, that getting past the ego, getting past some of your instincts.
00:22:38
Speaker
I know Tom Wolfe, one of my favorite writers, described it, for Stockbroker specifically, the masters of the universe, right?
00:22:45
Speaker
Kind of getting out of that mentality.
00:22:46
Speaker
Yeah.
00:22:48
Speaker
So that's great.
00:22:50
Speaker
Well, Carol, I think to wrap up our conversation, what we like to ask our guests are for three actual things that leaders can be thinking about if they want to build a business that's sustainable beyond its founders.
Five Elements for Organizational Change
00:23:02
Speaker
So maybe just sum up our conversation, three actual items that our listeners can take away.
00:23:07
Speaker
Yeah, that's a great one, Ryan.
00:23:09
Speaker
If I may, I'd like to break the rules a little bit and offer up five.
00:23:15
Speaker
Oh, wow.
00:23:16
Speaker
Bonus.
00:23:16
Speaker
All right.
00:23:17
Speaker
Love it.
00:23:17
Speaker
Quick, I promise.
00:23:18
Speaker
We're not going to go over time.
00:23:19
Speaker
So the first one, so clear communication is really a key theme among all the elements to make your business work.
00:23:29
Speaker
In order to affect change in your organization and being able to evolve, first and foremost, you need a vision of where you're looking to go.
00:23:40
Speaker
Your team need the skills to be able to do the work, do the change that needs to happen.
00:23:48
Speaker
The employees want incentives in order to do new, more difficult work.
00:23:56
Speaker
and they need the resources, the tools.
00:23:59
Speaker
And then lastly, the action plan.
00:24:01
Speaker
So it's really these five elements.
00:24:04
Speaker
And if you have all five elements, you will have effective change.
00:24:07
Speaker
If you're missing any of those five elements, you're missing the vision, folks will be confused.
00:24:12
Speaker
Why are we doing this?
00:24:14
Speaker
If they don't have the skill set, they'll have anxiety as to, I don't think I can do this.
00:24:18
Speaker
I don't like this.
00:24:20
Speaker
And they'll start to look for something else.
00:24:21
Speaker
If they don't have the incentives, they're going to have a lot of resistance.
00:24:25
Speaker
They're going to say, eh.
00:24:27
Speaker
I don't want to do it.
00:24:28
Speaker
I'm going to do it the old way.
00:24:30
Speaker
And if there's no resources, they'll be frustrated.
00:24:33
Speaker
And if there's no action plan, you're going to have a lot of false starts and go off in a bunch of different directions.
00:24:39
Speaker
And obviously that'll lead to undesirable consequences.
00:24:42
Speaker
Great.
00:24:42
Speaker
So let me see.
00:24:43
Speaker
I'm going to see if I can recap.
00:24:45
Speaker
Clear communications, a vision of where to go.
00:24:49
Speaker
Team needs the skills and incentives and the resources to execute on that.
00:24:53
Speaker
And then the action plan.
00:24:55
Speaker
Yes, you got it.
00:24:57
Speaker
Fantastic.
00:24:59
Speaker
Well, thank you, Carolyn.
00:25:00
Speaker
And for everyone that listened, we hope you enjoyed today's conversation.
00:25:03
Speaker
If you like what you heard, please take some time to subscribe wherever you're getting this podcast.
00:25:09
Speaker
Like, follow us on social media, all that great stuff.
00:25:13
Speaker
And thanks again, Carolyn, for joining us.
00:25:15
Speaker
My pleasure.
00:25:16
Speaker
Thanks for having me.
Closing Remarks and Listener Invitation
00:25:17
Speaker
Thank you, Carolyn.
00:25:18
Speaker
And to our listeners, I thank you.
00:25:20
Speaker
And I ask you to watch out for our next episode where we'll bring you even more insights and actionable ideas to help you grow your business.
00:25:27
Speaker
And remember, the challenge is yours to capitalize on what the future offers.
00:25:34
Speaker
If you want to join the conversation or connect with us, please visit us at synergize.advisorevolutionsciences.com.
00:25:43
Speaker
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00:25:46
Speaker
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00:25:55
Speaker
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00:26:04
Speaker
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00:26:07
Speaker
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Speaker
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00:26:15
Speaker
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00:26:16
Speaker
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00:26:23
Speaker
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00:26:30
Speaker
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00:26:41
Speaker
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00:26:41
Speaker
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00:26:44
Speaker
For a transcript of this episode with sources, visit synergize.advisorrevolutionsciences.com.