I know that problem because I lived it in my own practice.

I built my own practice from scratch through flyer drops and seminars. Along the way I took over two advisors' books.

The first was 35 households, when I already had 146 of my own and before I had a number two, so I met every household myself. If I did it again, I'd build that role first.

The second was just under 20 households from a colleague in my office who was giving up his investment licence. He introduced me to each client himself, sent a joint email with me and stayed available afterward. Only a couple of clients ever circled back to him.

I also had a proposed book takeover fall apart at the lawyer's office.

And eventually, I built a team.

In 2010 I hired a 22-year-old college student as a part-time assistant on a 90-day contract. At the end of it he told me he loved the work but needed full time, so I made it happen. In his first year he sat in on client meetings, watched how I worked and handled the follow-up. By the end of his first six months, clients were already coming to him directly for routine matters. I had him copy me on every client email until he suggested we stop.

Later, once he was licensed, he handled a client's pension transfer from start to finish and told me about it after the paperwork was signed.

He was ready for more responsibility long before I was ready to give it to him.

Once I did, I had more time to prospect again and grow the business, and the practice became less dependent on me. The three-business-day test I now give owners was his idea: step away completely, no calls, no email, and see what comes back. The few clients who needed advice only I could give were comfortable waiting. Everything else had been handled. He's an advisor in his own right today.

After 25 years in the industry, I sold my practice in 2024. I had seven offers on the table. The highest offer was 4.75x recurring revenue. I chose 4.25x because I believed that buyer was a better fit for my clients and presented less retention risk.

Each of those was a decision I only got to make once or twice.

I'd run my number two's first 90 days the same way again. I'd give him real authority much sooner.

That's why I do this work. I made these team, book and growth decisions from the owner's side of the desk, with my own clients and my own team. Now I help owners make theirs, and carry them out.

A painting called Dystopian Finance.

I came across this painting by accident. I had bought two other paintings from a local artist in her twenties. They were hanging in a local art bar and café.

When I went back to pick them up, this one had taken their place. I took one look and bought it too.

Only afterwards did the artist tell me its name: Dystopian Finance. I had already seen it in the painting.

After nearly 20 years running my own practice, I could appreciate the title. I've seen how complicated things get when every important decision comes back to the owner. Helping owners change that is part of my work today.