Mindy Diamond on Independence: How CPA Referrals Drove Integrated Partners to $12B in Just 5 Years

Most of the biggest “breakaway-turned-independent-business-owner” stories shared on this show are about gaining more control—both over the growth of the business and the ability to act as true fiduciaries.

It certainly was a motivation behind Paul Saganey’s 2016 decision to leave Lincoln Financial and build a multicustodial hybrid RIA firm with LPL Financial.

At that time, most would say he was already pretty successful as one of Lincoln Financial’s largest independent groups, having grown his business to $3.5 billion in assets—some of which was a result of a CPA referral network they were building.

But with the DOL rule festering in the background, Paul said in an interview, “We felt having our own RIA and being able to control our own fee structure was the way to go in the future.”

So while the DOL rule never really came to fruition, you might say Paul was prescient in his desire for greater control, as the hybrid RIA he built, Integrated Partners, now manages some $12 billion in assets.

That’s pretty explosive growth in just five years’ time—leading Integrated to be recognized as one of the “Fastest Growing Financial Advisory Firms” by SmartAsset.

In this episode, Paul shares the incredible story of how making thoughtful decisions with an eye toward the future can pay off in a big way, including:

• The decision to leave Lincoln Financial to form a hybrid RIA firm with LPL Financial as the broke/dealer—and how doing so enabled Integrated to scale its business and better serve clients.
• The CPA referral network that Integrated developed—and how their unique relationship influences growth for the firm and the CPAs who participate.
• The ongoing relationship with Lincoln Financial—and how continuing to offer Lincoln’s products to clients is a win-win.
• The importance of vision and leadership—and how Paul’s strong focus on “where the puck is heading” serves to drive success.

It’s an episode that shares all of the ingredients that have come together to make Integrated a standout success story—and one of the industry’s hottest acquirers.

Download a transcript of this episode…

Listen to the podcast

Listen to more episodes of Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change.

 

Mindy Diamond is CEO of Diamond Consultants in Morristown, N.J., a nationally recognized boutique search and consulting firm in the financial services industry.