I recently joined Catherine Tindall, CPA on the Financial Advisors Want to Know podcast to share a framework I use with firm leaders who are building what I call their RIA Version 2.0—growing beyond waiting for referrals and rainmaking into a more sustainable business development engine.
One theme that came up again and again in our conversation: advisors are overwhelmed with options but unsure where to focus. That’s exactly why I developed the Business Development Ecosystem framework—to give RIA leaders a clear, firm-level view of what’s working, what’s draining them, and where to double down.
Here’s a quick breakdown of what we discussed on the show:
Start with the Customer Journey
From first impression to loyal client, every stage of your business creates opportunity. The ecosystem has three parts:
- Marketing – How people hear about you (events, blogs, podcasts, COI outreach, etc.)
- Sales – How leads become clients (first meetings, follow-ups, proposals, conversions)
- Client Experience – How clients feel once they’re working with you (onboarding, communication, referrals)
Each stage matters. But you don’t need to fix everything at once.
Map What You're Doing Today
We walk through a hands-on exercise in the episode using a simple worksheet. You list your current efforts. For instance, perhaps you publish a blog or network with attorneys. Rate each across four dimensions:
- Value ($ to $$$)
- Investment ($ to $$$)
- Speed to Implement (1–5)
- Your Energy & Interest (1–5)
It’s a quick but revealing gut-check that helps you decide what stays, what goes, and what’s just been coasting on autopilot.
Plan What You Want to Add
Next, look ahead. What do you want to build into your business over the next year or two? A podcast? Client events? A more structured sales process? Use the same worksheet to assess future initiatives before you pile them on.
Then Prioritize: 1–3 Things, Max
Once everything’s on paper, the power is in choosing fewer things with more intent. I recommend firms choose one initiative that can render a quick win and one that has a high level of potential return coupled with high energy. This way, you can experience benefit right away while laying the groundwork for longer term success.
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Here is a quick sample of the interview. I encourage you to watch the whole thing on youtube.
Create an Easier On-Ramp
In the episode, I also shared one of the most common quick wins: offer an easy way for leads to get to know your firm before they’re ready to schedule a call. A free guide, checklist, or email series gives people a “low-commitment” way to step into your ecosystem—and gives you a chance to stay top-of-mind with proactive outreach after they introduce themselves.
Follow Your Energy
Finally, don’t ignore your own interest level. The most effective growth strategies are the ones you’re excited to implement. If you don't like writing, don’t commit to a blog. If you light up in conversation, maybe video or speaking makes more sense.
That intersection—between high impact and high energy—is where the best growth happens.
Related: Your Conference ROI Game Plan: What Top Advisors Do Differently