Some advisors spend their entire career with one firm, while others will choose to make one well-timed move. And there are others still who have experienced many different corners of the industry.
It’s these latter folks who often make the most compelling guests on our show because they’ve truly seen it all!
Jeff Brown is one such advisor. He started his path in wealth management at American Express, Morgan Stanley, and Wells Fargo Advisors. Then Jeff left the wirehouse world to start Brown Wealth Management with the support of Stratos Wealth Partners, which, after a subsequent merger, became BWM Financial.
He built a strong practice, always looking at ways to grow and serve his clients.
Yet a coaching session with Ray Sclafani got him thinking about the future and an eventual exit strategy. Not even 50 years old at the time, he figured he had a good runway ahead. But “what if” lingered in his head…
That is, what if something happened and he didn’t have a clear plan for his firm, his clients, his livelihood, and his family?
So, after a round of due diligence, Jeff decided to further cement his relationship with Stratos by selling them a minority position in his business in 2020.
But the story doesn’t end there…
Just last year, he sold a majority stake to Stratos to take the firm national. In doing so, he is now the President of a much larger entity, Stratos Private Wealth.
In this episode, Jeff shares a candid narrative with Jason Diamond, including:
- Lessons learned early on in the wirehouse world—and how that shaped his business going forward.
- The steps he took along the way—and how what he learned can help other advisors considering change.
- Wearing different hats throughout his career—and how he prepared for each.
- The choice to sell a minority stake in the business—and what Jeff saw in Stratos that inspired him to go all in.
- The role of vision in the evolution of his business—and how the choices made were not financial but purposeful.
- Thoughts about succession planning—and why playing the long game needs to start sooner in an advisor’s career.
Jeff offers compelling advice for every advisor – from employees at the wirehouses to independent business owners – with actionable advice and insights.
Download a transcript of this episode…