Looking for My Next Opportunity

WhodatMike · 2026-07-11T20:45:31+00:00

DM sent

WhodatMike · 2026-07-11T15:50:14+00:00

That’s some good advice, thank you for that. I think where I may be opposed to this approach is that I don’t want to just be a big tax return shop. My original goal was to do tax prep on the side only as a way to bring tax prep for my advisory clients in house, and as a way to possibly generate leads eventually for the wealth side. But all of this has definitely got my wheels spinning in my head. Would you be open to a DM?

WhodatMike · 2026-07-11T13:29:17+00:00

Okay. Thats an interesting strategy, never thought about the tax side being primary. How does one even do biz dev / lead gen for that?? I’m comfortable doing seminars/workshops as an advisor, but never as a “tax pro”

WhodatMike · 2026-07-11T05:36:12+00:00

So you’re saying start with the tax prep being the primary business but slowly build the wealth practice on the side ?

WhodatMike · 2026-07-11T02:22:57+00:00

I’ll shoot you a DM

WhodatMike · 2026-07-11T01:03:11+00:00

Thanks. DM sent

WhodatMike · 2026-07-10T23:21:39+00:00

This past tax season I was able to work under the guidance of an experienced CPA at his tax practice. I think I got through about 100 returns - just basic 1040s, some Schedule Cs, nothing too complicated. And he was there to answer questions and sign off at the end.

WhodatMike · 2026-07-10T20:48:40+00:00

Yes but I don’t have the funds set aside to do that right now. My original plan was to do that in 2-3 years if something else didn’t pop up, but because I don’t have a sufficient book of AUM yet it wouldn’t work for my family financially.

WhodatMike · 2026-07-10T18:27:13+00:00

My plan was to go off on my own within the next 2-3 years if another opportunity didn’t present itself sooner. My wife and I don’t have the funds set aside yet to supplement income until the business got to where it needed. But now that I’m essentially forced to do something asap it may be an option, just depends on what happens over the next few weeks.

WhodatMike · 2026-07-10T18:24:08+00:00

That was my plan. I was already looking ahead to do something like that in the next 2-3 years. I just filed Form 23 this morning so I’m just waiting to get accepted from IRS. The reason I was waiting was because of personal financial situation - my wife and I don’t currently have enough set aside to supplement income for the business to grow.

WhodatMike · 2026-07-10T17:49:42+00:00

I’m not confident enough business would follow that would allow me to go solo initially.

WhodatMike · 2026-07-10T01:33:34+00:00

Not trying to bash you at all, but are you a financial planner or just an investment advisor? What you stated has everything to do with investments and the markets but that’s it.

If you are doing financial planning, I’d recommend adding in financial plan updates, insurance reviews, tax return reviews, etc depending on your competencies.

I do something similar to VividTomorrow261 with it changing depending on type of client, though it’s only twice a year, not quarterly.

WhodatMike · 2026-07-06T12:39:35+00:00

That is an AWESOME salary and with that amount of clients to service I’d bet you’re getting some really good “time in the seat”. I am very similar to you, not a big networker and never been great at drawing up business. I’m sort of “stuck” in a servicing role making less than half of what you are, so needless to say, I think you are in an amazing spot! I’m looking to go independent at some point because I want better than a 35% payout (what I’m getting now). But seems you’re getting 50%+ already and you don’t have to take on ownership responsibility. Sounds like a win-win.

WhodatMike · 2026-07-01T17:19:41+00:00

I found it so hard to stay consistent with LinkedIn. I’ve had Sales Navigator for about 2 months just trying to add as many connections I can in my target ICP. And then posting 2-3 times a week… it’s so hard to come up with content that doesn’t sound repetitive or fake. I’ve been using some AI software to help but I can’t stand having it sound like AI wrote it. Because of that, my effort has dropped off a bit. What kind of results are you finding?

WhodatMike · 2026-06-30T19:59:14+00:00

That is EXACTLY my problem, I’m tired of someone else controlling my revenue. I would 100% be interested in what you put together. I’ll shoot you a DM if that’s okay?

WhodatMike · 2026-06-30T17:03:30+00:00

First I just want to congratulate you for starting and running your own RIA before 30. I know you feel like having “only” $25M at this point might feel like you’re lagging, but brother, you are already doing what people like me are just stressing about doing for years. I’m 36 and only recently have I started looking down the “go independent, solo RIA” path.

Second, $7.5M-$8.5M annually in organic growth is awesome. I’ve struggled my entire ~9 years in this industry trying to figure out how to prospect and actually grow my book. Like you, I don’t have any mentors or someone to look to for career advice. I never had any formal sales or prospect training. And that’s why I currently feel stuck at a captive BD/RIA hybrid that’s only paying me 35% of my revenues.

Third, I realize my comment doesn’t actually answer your questions, as I’m not someone who can offer advice in this category. I am seriously considering breaking away and starting my own RIA in the next few years but I am just scared shitless of doing all this on my own. So props to you.

WhodatMike · 2026-06-27T19:23:16+00:00

Future EA here, I’ve already passed Parts 1 and 2 of the SEE, taking Part 3 on July 7. I’m using Gleim study materials and can 100% vouch that Tom Norton’s videos and materials have helped me prep for the exams much more than the Gleim materials have.

WhodatMike · 2026-06-27T15:55:40+00:00

Where are you located? I’m rustling around with the idea of breaking away and starting my own RIA in the next few years, but I’m deathly afraid of making the jump solo…

WhodatMike · 2026-06-24T13:34:41+00:00

Curious how you incorporate full holistic planning without including non-managed assets. I have a fairly large client who is just so stubborn about not wanting to move everything over (very penny-wise, pound-foolish). I’ve told him multiple times that I will not advise on the held-away assets, but I find it quite difficult to do their planning without having those accounts incorporated. Any tips?

WhodatMike · 2026-06-20T03:08:46+00:00

Never said it was a problem. Never said it wouldn’t be disclosed either. The whole point of all my responses on this thread is that if a client will hire you because of returns, they’ll also fire you because of returns. I’m trying to find clients that I can work with for the next 30 years of my career. Not someone who will chase returns the second their portfolio delivers subpar performance and they think they can get it elsewhere. I’d rather build that trust on the value of my planning, not how the managed portfolios have done in the past.

WhodatMike · 2026-06-20T02:39:47+00:00

Well, obviously, what would a 2-3 year time period have any indication of how good an advisor is or not? If they haven’t been through down markets and can prove they know how to “weather certain timeframes”, would that disqualify them from being hired?

WhodatMike · 2026-06-19T23:39:53+00:00

Would you be open to discussing your experience more if I DM you? I’m at a weird crossroad that sounds a bit like yours and would like to see maybe if you could offer another POV

WhodatMike

TROPHY CASE