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In this episode of the RIA Edge Podcast, David Armstrong, managing director of editorial and content strategies for the Wealth Management Group at Informa, talks with Dan Seder, managing partner with Blue Chip Partners, about the firm’s rapid, and continuing, trajectory from a modest $300 million firm just a few years ago to one now approaching $1.2 billion. He discusses bringing a structured sales process into the RIA, including a strategic approach to client referrals, and why he feels a focus on growth is something the firm owes to its employees.
Specifically, David and Dan discuss:
- How Dan brought sales skills from the insurance world to the RIA and quickly grew the client base, and his ownership stake.
- How he and his partner realized early on that rapid growth requires more structure around the business and adopted the EOS (Entrepreneurial Operating System) program; Dan describes what EOS is and how it helped them build a better chassis to support their growth.
- How they are looking to expand services to include taxes and estate planning to not only provide current clients more services, but as a tool toward more client acquisition.
- The six core values the firm adopted to achieve their goals.
- The firm’s decisions around their investment strategy for clients.
- The rewards of building a strong team culture that fosters a collaborative, vibrant workplace, and why growing the firm is important to ensure employees feel they have opportunities in the business.
Connect With David Armstrong:
- WealthManagement.com
- LinkedIn: WealthManagment.com
- LinkedIn: David Armstrong
- Twitter/X: @djamesarmstrong
- LinkedIn: Informa
Connect With Dan Seder:
- Blue Chip Partners
- LinkedIn: Dan Seder
About Our Guest:
As Managing Partner of Blue Chip Partners, Dan is a holder of the right to use both the Chartered Financial Analyst® (CFA®) and Chartered Market Technician® (CMT®) designations. He is also a Certified Financial Planner™ professional.
Dan joined Blue Chip Partners in 2005 and became a shareholder in 2010. Dan specializes in addressing the unique needs of corporate executives. This includes demystifying complex compensation packages, maximizing executive benefit platforms, and integrating equity grants (i.e., stock options, restricted stock, performance shares) into a financial plan. In addition, Dan leverages technical analysis when structuring 10b5-1 trading plans for executives interested in reducing their concentration in company stock.
Dan graduated with a B.A. from the University of Michigan, where he was a four-year member of the varsity wrestling team. Dan is the former president of the CFA Society of Detroit, a member of the CFA Institute, and has served as an instructor for the Stalla CFA Exam review program.