Feb 15, 2021
In this episode, Steve talks with Jared Siegel, Partner at Delap Wealth Advisory in Lake Oswego, Oregon.
With a background in financial literacy, Jared began working at Delap primarily in business development before he was promoted to Partner and eventually tasked with creating a wealth advisory practice from within.
Jared credits the firm’s successful expansion with a company-wide alignment on culture, objectives, and metrics. He stresses the importance of moving forward as a united front rather than individually. Jared also leans on evidence-based investment and the principles of essentialism.
Jared and Steve talk about the risks associated with adding wealth advisory, the importance of character and competence when it comes to success, and learning to stay present outside the office.
“By defining what we do, it helps us clarify what we don’t do, and a lot of the time strategy is a lot more about what you say no to than what you say yes to.” ~ Jared Siegel
Main Takeaways
- Misalignment will disrupt an organization and prevent the ROA from reaching its full potential.
- Organizing teams around specific sub-industries allows the firm to have a collective range which thereby increases client impact. Always look for opportunities to improve your portfolio.
- Planning works best moving backward while execution works best moving forward.
- It’s important to have a dedicated champion when you’re creating a wealth advisory practice from within.
- Being intentional with your time is as important as being intentional with your money.