Owning Your Advisory Practice Without CEO Responsibilities with Penny Phillips

Episode 017: The journey to success starts with letting advisors be great advisors. Outsourcing offers a solution for advisors who want to maximize their efficiency and scale their businesses without the burden of running day-to-day operations. By leveraging the support and resources available to them, advisors can build successful businesses, maximize valuation, and ultimately provide the best possible service to their clients.

In this week’s episode of Milemarker’s Connected Podcast, I talk with Penny Phillips, President and Co-Founder of Journey Strategic Wealth. Penny talks listeners through how advisors can outsource the running of their firms while still owning the business. That allows advisors to maximize their valuation and focus on what they love – providing great advice and building genuine, long-term client relationships.

Here are a few key takeaways from this week’s ep:

Rather than acting as CEOs, advisors should focus on being great advisors.

The industry needs more quality advisors, and models like Journey Strategic Wealth can help retain and attract advisors by providing support in running their businesses.

The rainmaker advisor is becoming a dying breed, and firms need to find new ways to grow and develop business.

Outsourcing and institutionalizing various aspects of the business can help advisors focus on what they do best and maximize their profitability.

Independence should mean owning your data, book of business, and client relationships, not necessarily running every aspect of the business.

The episode is available now on your favorite podcast platform:


Apple Podcasts


Google Podcasts

While there, please don’t forget to Download, Like, and Subscribe.

If you’d like to schedule a time to talk with me about anything we cover on our podcast or Milemarker, click here to grab 15 minutes.

Kyle Van Pelt