Jan 10, 2022
Most of Mary’s professional life has revolved around succession. In the midst of taking over her father’s advisory firm, Mary linked up with the successor of her uncle’s firm and merged the two businesses to form Cambium Wealth & Legacy Strategies. Now, although years from her own retirement, Mary has trained a successor ready to take the reins.
Long before she spearheaded the impressive merger and developed the professional philosophies she lives by today, Mary was a biology student looking for a way into the financial space. Rather than a path padded with nepotism, Mary was offered a minimum wage filing position at her father’s firm.
While it wasn’t the pinnacle of glamor, she learned an invaluable lesson that transformed her approach to running a business – there’s often a wall between employees and employers. As an employer, it’s important to break down that wall and create a culture where feedback is both appreciated and expected.
In this episode, Steve and Mary discuss how to successfully merge two firms, Cambium’s evolution from investment-focused to planning-centric, the value of work-life harmony, the secret weapon that guides client conversations, and the invaluable advice passed down to Mary from generations of advisors past.
Key Takeaways
- [01:17] - An introduction to Mary and how Cambium was named.
- [03:50] - How Mary spearheaded a successful merger.
- [09:18] - Cambium’s core values and how to promote work-life balance.
- [12:15] - How to hire employees who fit your company’s core values.
- [13:54] - The difference between culture, values, and client experience.
- [15:02] - How Cambium evolved from investment-focused to planning-centric.
- [17:50] - When to incorporate the next generation of clients into the financial fold.
- [18:55] - How Mary matches clients with advisors.
- [20:10] - How to avoid burnout.
- [20:55] - The unique way Cambium expands its clientele.
- [24:21] - How Mary creates a culture where everyone is comfortable giving feedback.
- [28:03] - The best advice from Mary’s predecessors.
Quotes
[16:27] - “We’ve been able to take the focus off the investments – knowing that we’re doing a great job there – and put the focus on what are the problems the client is trying to solve.” ~ Mary Huntley
[28:30] - “My Dad and uncle have told me ad nauseam, if you’re not talking to your clients, somebody else is. And the more painful the markets are, the more frequently you need to chat with them.” ~ Mary Huntley
Links
- Mary on LinkedIn
- Cambium Wealth & Legacy Advisors
- 10th Dimension Leadership Consulting
- 10D Solutions
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