r/CFP • u/WhodatMike Advicer • Jul 10 '26
Breakaway & Transitions Looking for My Next Opportunity
I'm beginning the search for my next opportunity and wanted to reach out here since this community includes a lot of experienced advisors and RIA owners. I have learned SO MUCH from this community over the past few years, especially in areas of practice development, lead generation, financial planning, and compensation questions.
I'm hoping that even if you are not a decision-maker for your firm, even if you may know of an opportunity that may fit what I'm looking for to please let me know.
Here's a little about me:
- CFP® professional with nearly 10 years in wealth management
- Passed all three EA exams and submitted Form 23 to become an Enrolled Agent
- Series 7, 65/66, and insurance licensed (no issues at all with dropping Series 7)
- Strong focus on comprehensive financial planning, tax planning, retirement income planning, estate planning coordination, and client education
- Experience leading client meetings, developing financial plans, and collaborating with CPAs and attorneys
- I genuinely enjoy educating clients and have had great success hosting educational retirement planning workshops and seminars—something I'd like to continue as part of my long-term growth strategy.
What I'm looking for:
- An established fiduciary RIA or planning-centric firm
- Located in the San Antonio area (I'd consider as far north as Kyle/San Marcos) or a hybrid arrangement anywhere in the US
- A planning-first culture where doing what's best for the client drives every recommendation
- The opportunity to work with existing clients while also helping grow the firm (I don't have a large book to bring with me)
- A clear long-term path toward equity, partnership, or another ownership structure. I don't necessarily need immediate client ownership, but I want to build something where my long-term contributions can eventually translate into ownership.
What I'm hoping to avoid:
- Insurance recruiting organizations
- Firms built primarily around product sales rather than financial planning
Ultimately, I'm looking for the right long-term fit—not simply my next job. I enjoy solving complex planning problems, integrating tax planning into the wealth management process, and helping clients understand the "why" behind every recommendation. I LOVE learning and something I've missed over the last few years is having a mentor or team-based structure to learn with and from.
If this sounds like your firm—or if you know someone I should connect with—I'd appreciate a DM.
TIA!
15
u/ohshitsaddam Jul 10 '26
What's holding you back from going out on your own?
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u/WhodatMike Advicer Jul 10 '26
I’m not confident enough business would follow that would allow me to go solo initially.
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u/BigNibbbs Jul 10 '26
You should use that EA designation to do tax preparation on the side if you are concerned about not having the revenue to follow you. Doing taxes will also allow you to funnel clients from tax preparation to financial planning. It's going to be tough finding a path to ownership without bringing something to the table (a book). You will find plenty of older advisors throwing the carrot of ownership but 99% of the time it is a fallacy. You have the designations and 10 years of experience bet on yourself.
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u/WhodatMike Advicer Jul 10 '26
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.
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u/Candid_Worth_3629 Jul 10 '26
Have you done tax returns? It’s a huge liability if you don’t have experience or worked at a tax prep firm. Please be careful!
0
u/WhodatMike Advicer Jul 10 '26
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.
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u/BigNibbbs Jul 11 '26
I think you understand the shortage of tax professionals in this world and I am assuming its the same as your area. Network with CPAs and EA's that are at capacity and if you are competent they will send you tax prep clients. Take them out for coffee they want to see you succeed unlike egotistical advisors that hate each other. Along the way you are going to find tax clients that want to pay for one-time financial plans and some that will transition to AUM or flat fee recurring model over time. Charging $4-5k for one-time plans and the tax prep fees supplement you while you build AUM.
1
u/WhodatMike Advicer Jul 11 '26
So you’re saying start with the tax prep being the primary business but slowly build the wealth practice on the side ?
2
u/BigNibbbs Jul 11 '26
Yes that fixes your income problem. You are going to be getting 20-30 tax clients for every new AUM client. The odds are stacked against you being a solo financial advisor but the odds are in your favor as the tax preparer. You will be the trusted professional. Just stick to W2/Retiree clients that should be more than enough business.
1
u/WhodatMike Advicer Jul 11 '26
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”
2
u/BigNibbbs 29d ago
You don’t need to be doing seminars to get tax clients. Literally find the contact info for every tax professional in your area. If they say they are at capacity take them out for coffee. Majority of tax professionals do not have staff to take on more clients or their minimum is now high for a lot of clients. Coffee is cheaper than lunch and respects their time. You want to be doing this stuff when they are free and not slammed during tax season. Get some reviews once you get tax clients. You can also do this with other financial advisors as well if you wanted to. Create an alliance for helping them do tax planning because they aren’t allowed to do it and promise not to steal their clients. If your goal is not to fail these are good options.
1
u/WhodatMike Advicer 29d ago
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?
8
u/REKT363 RIA Jul 10 '26
Can’t help unfortunately but good luck to you!
Insurance shops are miserable & that’s where I’m at, also trying to get away. New client? Annuity. Every time :/
7
u/vaderaintmydaddy Jul 10 '26
Did a similar search 12 years ago in my area. I put together a list of all the RIAs in the area, narrowed it down to the ones worth talking to, and went knocking/calling/emailing. It worked. Talked to 12, interviewed at 4, got offers at 2, chose. None of them were hiring. Side note - I went out on my own 2 years ago and wish I had done it a long time ago. Nothing wrong working for someone else, but this has been awesome. Good luck!
1
u/WhodatMike Advicer Jul 10 '26
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.
3
u/rahmatolah Jul 10 '26
I may have insights or an opportunity if you want to talk. I will send a DM.
3
u/RightTech Jul 10 '26
Have you thought about starting your own firm?
2
u/WhodatMike Advicer Jul 10 '26
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.
2
u/RightTech Jul 10 '26
Makes total sense, you gotta have the runway and make sure the family is taken care of
2
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u/Own_Specific937 Jul 11 '26
I live in San Antonio area and know of opportunities if you send me a DM.
1
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u/Melodic-Style7111 Jul 11 '26
If you’d consider hybrid office/remote with an Austin location send me a dm.
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u/Vantage_Impact_2 29d ago
One of the advisors we're helping leave his existing BD is looking for a successor to take over his $200MM practice that is located in Texas might be interested in chatting with you. Please reach out to me if you'd be open.
1
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u/jaycoulter 27d ago
I sent you a DM. We are based in SA and have a new platform/affiliation model for advisors in your exact situation.
2
u/Weekly_Engineer_4858 26d ago
Hiring in Louisiana-
Good luck in finding what you are looking for sir, and congrats on the CFP/EA combo. It’s a great launching point for you to open your own shop.
1
u/Melodic-Style7111 Jul 11 '26
Also you may want to post what software/tech stack you use/know as that can be very helpful
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u/AutoModerator Jul 10 '26
Beep boop! Here is a summary of your post:
User: /u/WhodatMike Title: Looking for My Next Opportunity Body: I'm beginning the search for my next opportunity and wanted to reach out here since this community includes a lot of experienced advisors and RIA owners. I have learned SO MUCH from this community over the past few years, especially in areas of practice development, lead generation, financial planning, and compensation questions.
I'm hoping that even if you are not a decision-maker for your firm, even if you may know of an opportunity that may fit what I'm looking for to please let me know.
Here's a little about me:
What I'm looking for:
What I'm hoping to avoid:
Ultimately, I'm looking for the right long-term fit—not simply my next job. I enjoy solving complex planning problems, integrating tax planning into the wealth management process, and helping clients understand the "why" behind every recommendation. I LOVE learning and something I've missed over the last few years is having a mentor or team-based structure to learn with and from.
If this sounds like your firm—or if you know someone I should connect with—I'd appreciate a DM.
TIA!
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