The Advisor Summit Podcast
Welcome to The Advisor Summit Podcast, the podcast where financial advisors gain analytical insights and tactical strategies from the industry's top minds. Each episode, we bring you exclusive conversations with founders, C-suite leaders, and industry innovators uncovering the trends, tools, and techniques shaping the future of financial advising.
Whether you're looking to scale your practice, enhance client relationships, or stay ahead of market trends, The Advisor Summit is your go-to source for expert guidance and actionable takeaways.
The Advisor Summit Podcast
Ep #1: Know the Role in the Firm: CEO or Advisor
The Advisor Summit Podcast: Know the Role in the Firm: CEO or Advisor - Ep. 1 Brad Gotto
Welcome to The Advisor Summit, the podcast where financial advisors gain analytical insights and tactical strategies from the industry's top minds. Each episode, we bring you exclusive conversations with founders, C-suite leaders, and industry innovators uncovering the trends, tools, and techniques shaping the future of financial advising.
Whether you're looking to scale your practice, enhance client relationships, or stay ahead of market trends, The Advisor Summit is your go-to source for expert guidance and actionable takeaways.
Today's guest is Brad Gotto. He was born and raised in Iowa and is a lifelong Hawkeyes fan. He married his high school sweetheart, Christy, and together they have two children, Liam and Hudson. Initially, he pursued a path in ministry, serving as a youth pastor for 18 months, but eventually shifted to a career in finance. He joined Ameriprise in 2006 and discovered a passion for helping people with their finances. In 2009, he launched Fiat Wealth Management but later sold his shares and worked as a wholesaler. In 2020, he re-established Fiat Wealth Management after buying back his shares. This journey reflects a blend of personal growth, faith, and professional evolution.
In this episode, Brad shares his unconventional journey in the financial advisory industry, starting from a big-box firm to becoming the sole owner of Fiat Wealth Management, an independent RIA. Brad reflects on his career transitions, including his time in the FMO world, and how those experiences shaped his approach to running a successful financial advisory business.
He emphasizes the importance of being a strong business owner, leveraging data, and building long-term strategies to ensure sustainable growth. Brad also provides valuable insights into selecting FMOs as business partners and the role of data in scaling an advisory firm.
Key Takeaways:
Business Ownership Matters
Advisors often fail because they focus solely on advising rather than learning how to run a business effectively. Brad’s time in the FMO world gave him a "PhD" in entrepreneurship.
Choosing FMOs Wisely
FMOs are critical business partners, but advisors should select based on long-term alignment with their business needs—not shiny objects or short-term incentives.
Long-Term Vision Over Short-Term Gains
A five- to ten-year mindset is essential for sustainable growth. Shiny objects may offer quick wins but rarely provide lasting value.
Leverage Data Early
Data is vital for scaling efficiently, especially as firms approach $500M to $1B in assets, where inefficiencies can derail growth.
Build Systems Before Complexity Hits
Establishing processes early ensures scalability and prevents firms from becoming overwhelmed as they grow larger.
Connect with Brad
Brad's Website
At Track That Advisor, we believe that independent financial advisors shouldn’t have to struggle with overwhelming spreadsheets and confusing reports.
Our mission is to simplify data analysis, providing clear, actionable insights that help advisory firms grow and thrive.
With years of experience in financial analytics, our team understands the challenges advisors face. We don’t just provide numbers—we provide a roadmap to success.
Contact us at: hello@trackthatadvisor.com