Ep 80: How to Scale Your Team for Growth in Wealth Management

Episode 80: How to Scale Your Team for Growth in Wealth Management

Guest: Michael Connaughton

Overview

Welcome to the Financial Advisors Want to Know Podcast! I’m Catherine Tindall, CPA with Dominion Enterprise Services, where we help financial advisors navigate income tax planning and compliance.

Today’s guest is Michael Connaughton, founding partner of Lead Advisor, a firm dedicated to talent acquisition and professional development in the wealth management industry. A Certified Financial Planner and seasoned leader, Michael shares powerful strategies for hiring, team structure, and onboarding that help advisory firms scale effectively and sustainably.

Key Takeaways

✅ Hiring is the Key to Growth – After solving client acquisition, scaling requires the right team. Bringing on strong talent creates capacity and enables long-term expansion.

✅ Service Advisors are a Growing Trend – Creating mid-tier advisor roles helps firms support clients more effectively and allows lead advisors to focus on strategic and business development tasks.

✅ Balance Lifestyle and Business Goals – Whether you're growing aggressively or running a lifestyle firm, intentional team structure and planning are essential to keep momentum and avoid burnout.

✅ Strong Onboarding Drives Retention – A well-structured onboarding process ensures new hires feel integrated, perform quickly, and have a clear career path—boosting retention.

✅ Turnkey Support Can Smooth Growth – For firms in transition or early stages of growth, turnkey models and external partners can provide operational support, compliance guidance, and strategic planning.

Connect with Michael Connaughton

🌐 Lead Advisor
🔗 LinkedIn
📄 Lead Advisor Job Board

Connect with Catherine Tindall

🔗 LinkedIn
📅 Sign Up for the Newsletter
📧 Email: admin@dominiones.com
🌐 Dominion Enterprise Services

‍