As the year comes to a close and ClientWise marks 20 years in business, Ray Sclafani shares a thoughtful year-end leadership reflection on what it truly takes to build an enduring wealth management firm.

In this short, reflective episode of Building the Billion Dollar Business, Ray explains why long-term thinking has become a competitive advantage for financial advisors and why leadership depth is no longer optional. He introduces a practical three-year planning framework that helps advisory firm leaders balance reset, execution, and compounding growth while the business remains in motion.

This episode is designed to help financial advisors step back, clarify priorities, and think beyond the next quarter without losing momentum. Ray also shares powerful coaching questions to guide year-end reflection, leadership growth, and intentional planning for the years ahead.

Key Takeaways

1. Enduring advisory firms are built through long-term leadership thinking, not short-term reactions
2. A three year time horizon is far enough to create clarity but close enough to remain actionable
3. Strong leaders reset, execute, and harvest results simultaneously
4. Planning does not require pausing the business; leadership happens while moving forward
5. The future of wealth management remains strong for firms willing to invest with intention

Questions Financial Advisors Often Ask

Q: What is the three year planning cycle for financial advisors?
A: The three year planning cycle is a leadership framework that encourages advisors to plant seeds in year one, execute in year two, and see visible impact in year three, allowing for clarity without losing momentum.

Q: Why is long term thinking important for advisory firm growth?
A: Long term thinking helps advisory firm leaders make better trade-offs, avoid reactive decisions, and invest in people, systems, and leadership depth that compound over time.

Q: How does leadership depth impact advisory firm success?
A: Leadership depth is now a competitive advantage because enduring firms rely on strong teams and next-generation leaders, not just a single founder or rainmaker.

Q: How can financial advisors plan while still running the business day to day?
A: Effective leaders plan while the business is in motion by resetting what no longer works, executing current initiatives, and benefiting from prior investments all at once.

Q: What should financial advisors reflect on at year end?
A: Advisors should reflect on who they need to become as leaders, what they must stop tolerating, where to invest earlier, and who deserves recognition for their impact.

Find Ray and the ClientWise Team on the ClientWise website or LinkedIn | Twitter | Instagram | Facebook | YouTube

To join one of the largest digital communities of financial advisors, visit exchange.clientwise.com.

In this episode of Building the Billion Dollar Business, Ray Sclafani dives into how financial advisors can turn strategy into action using a Sorkin-style approach. Rather than relying on thick slide decks or polished documents, Ray emphasizes that strategy should be a story your team can act on today. Learn how to identify a single strategic intention, confront uncomfortable truths, and facilitate productive team dialogue that drives execution. Discover practical steps to align your team, prioritize high-impact decisions, and build a scalable, enduring advisory firm.

Listeners will walk away with four actionable coaching questions to guide their next strategic moves and insights on developing leadership, succession, and enterprise growth in their advisory firm.

Key Takeaways

1. Choose one clear strategic intention for your firm.
2. Identify the top 2–3 obstacles threatening that strategy.
3. Focus on execution, not perfect documents.
4. Develop leadership and bench strength within your team.

Questions Financial Advisors Often Ask

Q: What is a Sorkin-style approach to strategy?
A: A Sorkin-style approach treats strategy like a compelling story, focusing on dialogue, decisions under pressure, and clear stakes. For financial advisors, it emphasizes team involvement, prioritization, and actionable direction rather than lengthy slide decks or abstract documents.

Q: How can financial advisors turn strategy into execution?
A: Advisors can turn strategy into execution by choosing one strategic intention, identifying top obstacles, confronting uncomfortable truths with their team, and facilitating structured retreats or discussions to make decisions and assign responsibility.

Q: Why is single-intention strategy important for advisory firms?
A: Focusing on one strategic intention prevents confusion, ensures alignment across the team, and allows advisors to make high-impact decisions that drive measurable growth and sustainable leadership.

Q: How does this approach help build a scalable advisory firm?
A: By clarifying priorities, delegating responsibilities, and developing leadership within the team, advisors create capacity for growth, reduce founder dependency, and build a firm that can endure and thrive over time.

Find Ray and the ClientWise Team on the ClientWise website or LinkedIn | Twitter | Instagram | Facebook | YouTube

To join one of the largest digital communities of financial advisors, visit exchange.clientwise.com.

In this episode of Building the Billion Dollar Business, Ray Sclafani dives into the strategies that top advisory firms use to level up their teams. Discover how feedback, self-reflection, and merit-based career paths drive engagement, performance, and growth. Ray shares actionable ideas for both leaders and team members to create a culture where ambition, curiosity, and development are rewarded.

Learn why high-performing advisory teams invest in clear career paths, regular feedback, and stretch opportunities, and how these practices can accelerate talent development and firm growth. Whether you’re a firm leader or an advisor aiming to maximize your impact, this episode is packed with insights backed by research from Gallup, Harvard, Deloitte, McKinsey, and more.

Key Takeaways:

1. Career paths and performance expectations fuel engagement and development.
2. Employees receiving meaningful feedback develop 3–4x faster.
3. Challenging assignments cultivate skills that formal training alone cannot.
4. Open communication about goals, learning needs, and strengths creates high-performing teams.
5. Employees who actively manage their own development are more likely to become leaders.

Questions Financial Advisors Often Ask

Q: How can financial advisors level up their team?
A: Advisors can level up their team by providing regular feedback, creating clear career paths, promoting merit-based performance, and offering stretch opportunities for skill growth.

Q: Why is feedback important for team development?
A: Meaningful feedback accelerates employee growth, improves performance, and increases engagement, helping advisors develop high-performing teams.

Q: How can team members take ownership of their growth?
A: Team members can take ownership by reflecting on their performance, asking for feedback, volunteering for stretch responsibilities, and actively pursuing development opportunities.

Find Ray and the ClientWise Team on the ClientWise website or LinkedIn | Twitter | Instagram | Facebook | YouTube

To join one of the largest digital communities of financial advisors, visit exchange.clientwise.com.