Stage 2 Solution Blog


What Is A Value Driver And Why Should You Care?

Posted by Josh Patrick

Aug 29, 2014 9:00:00 AM

Every business has them.  Most of the time it’s not very obvious what yours are.  It’s something you should spend a lot of time examining.  What am I talking about?  It’s value drivers.  Value drivers are what make your business more or less valuable.

Value drivers - a definition


Topics: creating value, wealth management firms, value drivers

5 Reasons Insiders Need To Buy Your Wealth Management Firm

Posted by Josh Patrick

Aug 26, 2014 9:00:00 AM

I’m not sure why this is true, but it seems the only legitimate transaction I read about in the wealth management world is to sell your firm to a third party.  For most of us in the industry this is the absolutely worse way to transfer a business.  The fact is, most wealth/investment management firms only sell of 40% in cash and the rest financed by the owner over five years or so. 

To me, this is not a great way to transfer your business.  When you hold 60% of your purchase price as a sellers note to people who you don’t know, there’s a very good chance you’re not going to get paid.  I have no idea why people in the wealth management world think this is a good idea.


Topics: wealth management firms, buying, selling

5 Things I Love About The Wealth Management Business

Posted by Josh Patrick

Aug 22, 2014 9:00:00 AM

august_22In 1995 I sold my vending and food service business.  It was a business my father had started in the early 1960’s.  It wasn’t a decision I made lightly.  The sad fact was the industry was becoming more and more difficult to make a living without having to cheat our customers.  I decided that instead of going down that road I would make a different choice.  I would change industries and careers.

This meant I had to start thinking about what I really wanted to do.  Since I was 44 years old and starting from scratch the world was wide open to me.


Topics: wealth management firms, financial management, career choices

Are You A Leader Or A Manager? – Enterprise Value

Posted by Josh Patrick

Aug 19, 2014 9:00:00 AM

curtThere have been tons of articles written about leadership and management.  In my opinion, both leadership and management are tremendously important.  In fact, I believe that in most organizations having competent management is just as important as having great leadership.


Topics: leadership, management, wealth management firms

5 Reasons An RIA Firm Should Care About Inbound Marketing?

Posted by Josh Patrick

Aug 15, 2014 9:00:00 AM

inbound_marketingI’ve been in the wealth management business for almost twenty years.  I’m not the most active marketer.  At my core I’m probably a little introverted.  I definitely don’t like cold calling and will do about anything in my power to avoid it. 

Does any of this sound like you?  If so, you should care about inbound marketing.


Topics: inbound marketing, RIA wealth management, relationships

What Is A Chief Revenue Officer?

Posted by Josh Patrick

Aug 12, 2014 9:00:00 AM

SGS-_Chief_Revenue_OfficerThis is really a pretty easy question to answer.  A Chief Revenue Officer is the person in your firm that is responsible for anything that has to do with revenue.  It’s really very simple, unless you have someone assigned to managing and creating new revenue your firm won’t do as well as it could.

Here are some things you might want to think about:

What is your marketing strategy?

This is where you should start.  I hope you do understand that marketing and sales are two very different activities.  Marketing is the strategy of how you create a new client.  Sales are the activities that you use to create revenue.


Topics: RIA wealth management, marketing, chief revenue officer

Introduction To Our Blog - Creating A Great RIA Firm

Posted by Josh Patrick

Aug 8, 2014 6:00:00 PM

S2S-_IntroIntroduction To Our Blog - Creating A Great RIA Firm

Our purpose at Stage 2 Solution is to help RIA wealth management firms create extreme value in their firms and the lives of the firm’s principals.  We’ve organized our business around serving successful RIA firms.  We think there are about 3,000 firms in the country that could benefit from the services we provide.  At the same time, we recognize we’re not right for everyone. 

If you happen to be someone we are right for, you’ll know it after spending a few minutes reading our blog.  I’ll be slightly irreverent and try to provide you with take home value with every blog post I write.  I want you feel that this blog is a place you want to visit and participate in t

he conversation.  Ultimately, we want to see a community develop with firms and people who think differently about our industry.


Topics: creating value, inbound marketing, chief revenue officer

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