Some advisors spend their entire careers with one firm, while others will choose to make a move when the time is right. And there are still others who have experienced many different corners of the industry.
It's the latter who often make the most compelling guests on our show, because they really have seen it all!
Jeff Brown is such a counselor. He began his career in wealth management at American Express, Morgan Stanley and Wells Fargo Advisors. Jeff then left the wire world to start Brown Wealth Management with the backing of Stratos Wealth Partners, which, after a subsequent merger, became BWM Financial.
He built a strong practice, always looking for ways to grow and serve his clients.
However, a training session with Ray Sclafani got him thinking about the future and an eventual exit strategy. Not even 50 at the time, he thought he had a good track ahead of him. But “what if” remained in his head…
That is, what if something happened and he didn't have a clear plan for his firm, his clients, his livelihood and his family?
So, after a round of due diligence, Jeff decided to further cement his relationship with Stratos by selling them a minority position in his business in 2020.
But the story doesn't end there…
Just last year, he sold a majority stake in Stratos to take over the national firm. In doing so, he is now president of a much larger entity, Stratos Private Wealth.
In this episode, Jeff shares a candid story with Jason Diamond, including:
- Lessons learned early in the world of wiring – and how it shaped his business moving forward.
- The steps he took along the way—and how what he learned can help other counselors thinking about making the switch.
- Wearing different hats throughout his career – and how he prepared for each.
- Choosing to sell a minority stake in the business—and what Jeff saw in Stratos that inspired him to go all in.
- The role of vision in the evolution of his business – and how the choices made were not financial, but intentional.
- Thoughts on succession planning—and why playing the long game should start early in an advisor's career.
Jeff offers compelling advice to every advisor—from wire office workers to independent business owners—with actionable tips and insights.