The Fine Print

Most advisory firm owners know they need to pay their people well. What's harder to figure out is whether they're paying them the right way; and in a market where the go-to compensation benchmarks have largely disappeared, even knowing how much to pay has become its own challenge.In this episode of The Fine Print, David Grau Jr. sits down with Julia Sexton, CVA, Director of Team Solutions at SRG, to unpack the full picture of compensation design for advisory firms. The conversation covers why production-based compensation quietly undermines team-based goals, how farmers and hunters on your team require fundamentally different compensation structures, and why the grid-based payout model creates a margin problem that only gets worse over time.Julia walks through the BBP model (base, bonus, and profit) and how eligibility criteria can protect against fee discounting and other behaviors that erode firm value. The episode also covers how to back-test compensation changes before rolling them out, how to create a career path that frees up capacity without recruiting expensive lateral hires, and why future-proofing your compensation model now means fewer headaches every year down the road.

When you decide to sell your advisory business, you will be approached from every direction — aggregators, PE firms, broker dealers, and peers all ready to make an offer. The question isn't whether demand exists. It's whether you have the right team to make sure you're getting the most out of it. In this episode of The Fine Print, David Grau Jr., MBA is joined by Kristen Grau CPA, CVA, CEPA, Parker Finot, and Ryan Grau CVA, CBA to break down what seller advocacy really means, where self-negotiated deals tend to fall short, and what advisors should look for when choosing an intermediary. You will hear why great offers never show up in the first draft, what the "auction" label gets wrong about the listing process, how some intermediaries secretly work both sides of the deal, and why getting a valuation three years before you're ready to sell can change everything.

Employment agreements are often treated as a formality, until a key employee leaves, client relationships walk out the door, or a succession plan starts to unravel.In this episode of The SRG Exchange, SRG’s consulting team and General Counsel break down the real-world role of restrictive covenants in advisory firms, and why the biggest risk is often having no agreement in place at all.The group explores the difference between non-competes, non-solicits, and no-serve provisions, why enforceability varies state by state, and how firms can create protections that are both practical and reasonable.

In this episode, David Grau discusses the importance of death and disability planning for independent advisors and small business owners. He emphasizes the need to separate succession planning from contingency planning and suggests dividing and conquering these two subjects. Grau explains the different agreements and funding mechanisms that can be used in death and disability planning, including life insurance, promissory notes, and revenue sharing. He also highlights the key considerations in setting the price, determining the triggers, and addressing tax implications. Grau concludes by emphasizing the importance of post-agreement best practices and practical elements in implementing the plan.

Finding talent can be hard. But you don’t always need to find it, with the right approach you can develop it within anybody.This episode is the first part of David Grau Jr.’s conversation with Ray Sclafani, Founder and CEO at ClientWise, LLC. Join them as they’re dedicated to uncovering the secrets behind flourishing financial advisory firms as they explore the synergy of digital marketing, the power of client referrals, and the benefits of strategic partnerships. Ray’s knowledge in talent development shines as he discusses innovative onboarding and training strategies, that ensure new hires evolve into valuable assets. Buckle up for a knowledge-filled discussion on the complexities of talent acquisition and team building to ultimately create a robust and dynamic workforce.Listen as Ray discusses: Sustainable growth strategies for financial advisory firmsDigital marketing, AI, and client advocatesTalent acquisition and onboardingAnd moreResources:Strategies for Building Enduring Wealth Advisory Firms With Ray Sclafani Part 1 (Ep.19)Measure What Matters by John DoerThe Newsroom – Prime VideoConnect with David Grau Jr.:Succession Resource GroupLinkedIn: David Grau Jr, MBA david.graujr@successionresourcegroup.com Connect with Ray Sclafani: LinkedIn: Ray SclafaniClientwise.com800-732-0876About Ray Sclafani: Ray Sclafani is the founder and CEO of ClientWise, which provides elite coaching programs and consulting exclusively for the financial services industry. Ray’s passion for serving leaders, advisors, and companies in the financial services sector is reflected in ClientWise, its unique coaching programs, and its team of credentialed coaches.Ray’s experience as a coaching and consulting specialist in the financial sector mirrors his long and profitable history in the industry. As a complement to his coaching skills, he holds a Master’s Certification in Neuro-Linguistics from the International Association for Neuro-Linguistic Programming and has participated in The Strategic Coach® Program for 17 years.Ray’s expertise as a coach and trainer is recognized and sought out by leaders within the profession. Through ClientWise, he has provided coaching or created and presented workshops for, among others, Merrill Lynch, Morgan Stanley Wealth Management, LPL, Raymond James Financial, Ameriprise, and Northwestern Mutual. In addition, he has spoken on request to major industry conferences and company events for firms such as Merrill Lynch for their Diversity & Training programs, LPL, Morgan Stanley Institutes Conferences, Raymond James, FSC Securities, as well as the FPA National Conference, John Hancock Funds Wholesaler Conference, Nationwide Financial Summit Sales Conference, MetLife Presidents’ Conference, Northwestern Mutual Forum, Northwestern Mutual Annual Meeting, Barron’s Winner’s Circle Summit, and Barron’s Top Advisory Teams Summit.He has been interviewed and quoted in the Wall Street Journal, Financial Planning magazine, and Registered Rep, to name a few. Ray’s book, “You’ve Been Framed: How to Reframe Your Wealth Management Business and Renew Client Relationships,” was published by Wiley in 2015.

Many Advisors dedicate their lives to building their companies. But what happens after they exit their business?The transition can be fraught with unexpected emotional challenges that are often overlooked!Get ready to address the “founder’s exit paradox” with David Grau Jr. and guest Jerome Myers, founder of DreamCatchers and The Myers Development Group. They shed light on the difficulties that come with stepping away from a business you’ve poured your heart into and how to navigate the journey toward a fulfilling post-exit life.Key Discussion Points:Jerome’s story of exiting Corporate AmericaWhat is the “founder’s exit paradox” and how does it affect business ownersWhy it’s normal to feel empty or lost after a business exitSix centers of doubt that every business owner may experience after selling a businessThe N.E.X.T. formula to find purpose post-exitProactive measures to seamlessly navigate the different stages of exitAnd much more!Resources:Dreamcatchers Podcast“Your N.E.X.T.?: Finding Fulfillment After Your Exit” by Jerome MyersConnect with David Grau Jr.:Succession Resource GroupLinkedIn: David Grau Jr, MBA david.graujr@successionresourcegroup.com Connect with Jerome Myers:LinkedIn: Jerome MyersJerome Myers WebsiteThe Exit ParadoxAbout Our Guest:Jerome Myers aka “J” is a developer of people and places. He is the founder and Chief Inspiration Officer of DreamCatchers and The Myers Development Group. Through these entities, he gets to live out his childhood dreams of helping people manifest the things they imagine and create social proof that dreams should be real. Since leaving corporate America after building a 20MM division at a Fortune 550 company, J has become one of the most sought-after thought leaders in the multifamily development space. His company, The Myers Development Group, built a multi-million-dollar portfolio following the principles of Myers Methods.Unlike other coaching programs, they will go beyond strategy, assessments, and encouragement. Jerome pioneered Holistic Transformational Life Coaching more than 15 years ago. Up until about two years ago, it was only used with his closest friends and family. They repeatedly urged him to share his techniques with others and laid the foundation for introducing his methods to the world.

Ever wondered how top financial firms plan for the future?Discover the secrets of scaling your financial advisory business in this engaging episode of The Fine Print. Host David Grau Jr. and guest expert Caleb Brown, co-founder of New Planner Recruiting, dive into effective succession planning strategies for independent advisors.Key Discussion Points:The pitfalls of succession planning Understanding the evolving roles in advisory firmsNavigating the challenges of recruitment and compensation in financial advisoryThe evolution of a CEO’s role in financial advisory firmsViability and efficiency of smaller, lifestyle practicesEmphasizing salary-based compensation models with growth opportunitiesThe balance between investing in employee development and managing turnover risksAnd much more!Resources:LinkedIn: Caleb Brown, MBA, CFP®NewPlannerRecruiting.comNew Planner PodcastBook: Finding Your Path: The Roadmap from Student to Successful Financial PlannerBook: Successful Hiring for Financial Planners: The Human Capital AdvantageJocko Willink Video: GoodConnect with David Grau Jr.:Succession Resource GroupLinkedIn: David Grau Jr, MBA david.graujr@successionresourcegroup.com About Caleb Brown: Caleb Brown is a renowned expert in the financial planning sector, specializing in connecting emerging financial planners with growth-oriented firms across the USA. As a CERTIFIED FINANCIAL PLANNER and a Kolbe Certified Consultant, he plays a pivotal role in mentoring and integrating new talents into the industry. Caleb is recognized for creating the FPA Career Day program and actively contributes to the financial planning community as a member of the FPA New Professionals Advisory Council and Chairman of NexGen. His experience includes over five years in an RIA firm and he’s been acknowledged as the Next Generation Influencer by Financial Planning magazine.

Want to know what sets successful businesses apart? Join us in the latest Fine Print episode, where Julia Sexton, Director of Strategic Organizational Planning at Succession Resource Group, unravels the complexities of strategic organizational planning. David and Julia’s conversations offer invaluable insights for independent advisors aiming to boost their business value, growth, and sustainability.Key Highlights:Discover how nurturing talent fuels business expansionDive into the secrets of effective compensation plans that drive successUncover how the right mix of incentives can keep top talent thrivingFind out how intangible rewards can drive real business impactExplore innovative strategies for employee motivation and engagementLearn how smart vesting aligns with company growth and employee loyaltyDiscover the transformative potential of equity plans in shaping business futuresAnd much more! Connect with David Grau Jr.:Succession Resource GroupLinkedIn: David Grau Jr, MBA david.graujr@successionresourcegroup.com Connect with Julia Sexton:LinkedIn: Julia Sexton (Sullivan), CVAAbout Julia Sexton: Julia, SRG’s Director of Strategic Organizational Planning since 2023, specializes in guiding clients toward long-term success through tailored contingency and employment programs. With a comprehensive approach, she crafts individualized employee and owner compensation plans, structures equity rewards for sustained business goals, and supports growth initiatives through entity formation and M&A. Drawing on 5 years of experience as a certified business appraiser, Julia has completed over 2,000 valuations and facilitated 200+ successful mergers. Holding a CVA designation and a Bachelor of Science in Business Administration from the University of New Hampshire, Julia is a member of NACVA. Based in Providence, Rhode Island, she enjoys outdoor activities with her husband and golden retriever, engaging in competitive CrossFit, and unwinding on the beach with a good book.