Rethink: The Financial Advisor Podcast Episode 27

Rethink Podcast Episode 27 – Relatability as a Growth Strategy featuring JR Gondeck

It is certainly a lot easier to retain a client by being able to relate to their family – especially if they pass away – than trying to retain one.

Interestingly, a high percentage of next/future generations of clients leave the existing Advisor when their parents die as they don’t feel they can connect with the Advisor who is likely older than them, which naturally makes them more difficult to relate to.

This is why it’s important to consider the diversity of your firm and how it matches the needs and multiple generations of our clients’ families. Diversity within financial practices should reflect that of our clients-to-be and not only our current clients. This is an essential growth and scalability strategy for Financial Advisors.

To discuss diversity and building diverse practices in more detail, Adam Holt and I are joined on this week’s podcast by JR Gondeck, MD and partner at The Lerner Group at Hightower Advisors. JR has led his team to become more diverse with a 50/50 split between male and female employees who speak multiple languages and a thoughtful age range of Advisors so that they are relatable to their clients.

This has been a great growth strategy for their firm.

To summarize Rethink Podcast Episode 27, Adam, Derek, and JR discuss:

  • JRs transition from transactional to planning based
  • JRs “giving up to grow” philosophy and embracing internships to grow
  • Thoughts on transparency, health, and balanced schedules while promoting health throughout the team
  • JRs thoughts on crypto
  • “It’s hard for two dudes to do that”
  • America’s Got Talent and Derek singing in the shower

Connect with JR Gondeck:

Connect With Adam Holt:

Connect With Derek Notman:

About our Guest:

JR Gondeck is currently a Managing Director and Partner of The Lerner Group at Hightower Advisors. Before joining the firm, he was a Senior Vice President at Morgan Stanley Smith Barney from 2003 to 2012.

JR began with the Lerner Group while at Morgan Stanley Smith Barney from 2003 to 2012, where he researched equities and expanded equity investment strategies.

He graduated first in class after attending the Morgan Stanley training class from 2003 to 2006. He is also a three-year member of the Pacesetter’s Club.

While managing equity portfolios, JR also manages almost $200 million of fixed income portfolios for the Lerner Group. He specializes in analyzing financial statements for the benefit of fixed-income securities and equity.

JR recently completed his MBA at Northwestern University’s Kellogg School of Management.

You can listen to the full podcast here.