The Connected Advisor 
The Connected Advisor 
The Growth Strategy Behind a $3B Succession-Ready Firm
Listen to this week’s episode.
Episode 092: On this week’s episode of The Connected Advisor, I speak with David Hefty, CEO at Credent Wealth Management—a fast-growing, advisor-owned RIA that has scaled to nearly $3 billion in AUM through a unique blend of organic growth, strategic acquisitions, and succession-focused consulting.
We discuss the bold moves behind Credent’s explosive growth—from bootstrapping as a young advisor to leading 12 successful acquisitions. David unpacks how his firm scaled to $3.3B in AUM by focusing on intentional succession planning, centralized operations, and a transparent, advisor-first culture.
Key Takeaways
Succession planning must start years in advance. Don’t wait until you’re ready to exit. Successful succession requires years of prep, a thoughtful client transition plan, and a clear structure that preserves the firm’s health and value.
Separate the roles of wealth advisor and wealth manager. Founders often fill both roles, but assuming a service-focused planner can carry the growth mantle after a founder exits is a critical mistake. Long-term growth demands intentional role clarity and accountability.
Organic growth is driven by raving fans, not referrals. Rather than asking clients for referrals, focus on delivering an experience worth sharing. When clients are genuinely enthusiastic, they’ll introduce others—fueling consistent, compounding growth over time.
Quotes
“Credent, being owned by advisors, built by advisors, and for advisors, one of our goals is to be the succession planning firm of choice for advisors.” ~ David Hefty
“The idea behind launching a succession planning TAMP is to help those advisors maximize the value of their business. Not only the founder of that cluster of advisors, but every participating advisor can increase and maximize their value.” ~ David Hefty
“You don’t have to be an expert in financial services. You’re an expert in human emotions and behavioral finance. So, as long as you have that natural skillset inside your environment, you can be wildly successful.” ~ David Hefty
“A wealth advisor without a wealth manager is not a good business. The best businesses have both.” ~ David Hefty
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Kyle Van Pelt
