4 steps to creating a study group, with Good Advisors Finish First

01/28/25 • 33 min

Where do you turn for help in managing your practice? One resource that should be near the top of your list: a study group. Advisor study groups are among the top five most effective practice management resources, according to Cerulli Associates’ 2023 US Advisor Metrics report. John Stadtmueller, Founder and CEO of advisor network Good Advisors Finish First, has spent over 20 years in the industry as an advisor, consultant and wholesaler at firms including LPL Financial and Charles Schwab. He dispels some common myths about study groups and details the steps to forming an effective one that can help all its members better manage their practices and serve their clients. For more, visit PracticeLab.com.

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When succession doesn’t go according to plan, with Legacy Financial

What happens if your succession plan falls through? Good succession planning requires more than just identifying someone to take over your practice. It’s about investing in the next generation. Sometimes, they’re your own children. That’s the story of Legacy Financial, an independent firm with Raymond James in Ann Arbor, Michigan. Bruce Dunbar, Mark Dunbar and Caroline Andrews describe how a culture of transparency, openness and willingness to learn (on both sides) has set the firm up for smooth succession. For more, visit PracticeLab.com.

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So you want to buy another advisor’s practice, with Lloyd Sprague

Are you considering buying another advisor’s book or selling your own? Lloyd Sprague is an advisor at True Wealth Advisors with LPL in Colorado. Since joining True Wealth in 2017, Sprague has acquired seven other practices. In this episode, he shares about how to find a book that makes sense for you to buy, engage with a selling advisor, transition new clients over and position your own practice for acquisition. For more, visit PracticeLab.com.