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Michael Kitces' #FASuccess Podcast: How John Kennedy Uses an EOS to Build His Business

CandorPath Financial's John Kennedy explains how he and his partner have implemented Gino Wickman's Entrepreneurial Operating System as a framework to rapidly scale up their ensemble practice.



Welcome back to the 245th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is John Kennedy. John is a founding partner of CandorPath Financial, a hybrid-RIA in Orlando, Fla. that manages $110 million for 162 client households.

What's unique about John, though, is that he and his partner have implemented Gino Wickman's Entrepreneurial Operating System (or "EOS", for short) as a framework to rapidly scale up their ensemble practice in a deliberate and intentional manner.

In this episode, we talk in depth about how John uses EOS in order to run his financial planning practice as a business, and how it helps him to not only make clearer business decision but make them faster as well, why John feels that the quarterly objectives defined in the EOS system, called "rocks", allows him to stay focused on the activities that help him move his practice forward (even if only a portion of the quarterly rocks are actually completed on time), and how John leverages EOS's Vision/Traction Organizer document to define his practice's core values and ensure that all of their business activities and goals align with those core values.

We also talk about how, by setting a three-year picture and big 10-year goals, John and his partner were able to stop being focused solely on growth for growth's sake and instead to start intentionally managing toward their long-term vision of what they wanted their lives to look like further down the road, how defining CandorPath's core values helped John lay the foundation for a well-defined company culture and also gives him a way to clearly communicate with clients just how important their relationship is, and the key business statistics and metrics that John tracks on his EOS scorecard, including data around their net profit margin, sales funnel and client satisfaction.

And be certain to listen to the end, where John shares his strategy around creating videos to share on social media and how those have helped prospective clients get to know CandorPath even before sitting down in a first meeting, how CandorPath developed its own Alexa Skill as a means of fostering daily touchpoints with clients between their regular quarterly (or semi-annual) meetings and the advice that John has for other advisors considering launching a new firm as an ensemble practice with a partner of their own.

And so with that introduction, I hope you enjoy this episode of the Financial Advisor Success podcast, with John Kennedy.

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