What Balance and Bud Crawford Can Teach Wealth Management Firms About Winning Championships

This past weekend, I made a promise to my 11-year-old son, Simeon: he could stay up late and watch the Crawford-Canelo fight.

I’m not really a boxing guy. I had my share of fistfights growing up (never lost—crazy long reach helps). But I can appreciate the sport.

For us, this fight mattered. Canelo Álvarez is one of the most decorated fighters alive. Terence “Bud” Crawford is a Nebraska kid—a hometown hero—who has quietly become one of the most complete boxers of all time. When he moved up to challenge Canelo at super middleweight, most thought size and power would win.

But balance beat brute strength.

Crawford didn’t rely on one punch or one stance. He switched styles, adjusted rhythms, countered power with precision. After 12 rounds, the judges scored it 116-112, 115-113, 115-113, unanimous for Crawford. He’s now the undisputed super middleweight champion of the world.

Seventy thousand fans in Allegiant Stadium and 41 million watching on Netflix witnessed the same truth: balance is what wins at the highest levels.

The Wealth Management Parallel

Wealth management firms aren’t stepping into a ring in Las Vegas. But they are competing—harder than ever—for clients, talent, and market share.

Many firms lean on one strength: maybe retirement planning, estate law, or investment management. That strength can carry them a long way. But eventually, they bump into their own version of Canelo: a challenge where one dimension isn’t enough.

That’s when balance matters.

• Recruit better. Your next level won’t come just from the current roster. You need people who raise the standard, who fill in the gaps you didn’t even see.
• Train better. Championship firms don’t rely on past wins. They professionalize: repeatable playbooks, deeper skill development, more efficient processes.
• Outsource wisely. Not every capability should be built in-house. Partner where it accelerates you, outsource where it saves time, and free up energy for what matters most.
• Professionalize where it counts. When it comes to advice, client experience, compliance, or reporting—the areas that define trust—you don’t dabble. You lead.

Balance doesn’t mean watering down your strengths. It means leveling up the other spokes of your wheel so the whole thing can spin faster without wobbling.

Moving Up Weight Classes

Crawford moved up two divisions to face Canelo. He didn’t just bring power up with him—he brought adaptability. That’s why he won.

Firms that grow beyond $500M, $1B, or $5B in AUM face their own version of “moving up weight classes.” Complexity multiplies. Client needs expand. Competitors sharpen.

If you don’t expand your balance, you plateau. If you do, you compete—and win—at a level most firms never reach.

The Missing Ingredient: Measurement

But here’s the key: you don’t know if you’re balanced unless you measure.

Crawford knew when his punches were landing and when they weren’t. He adjusted in real time because he had a sense of scale, timing, and effectiveness.

Firms need the same. Every spoke of the wheel—talent, training, outsourcing, technology, client experience—should be measured.

• Scale: Do you know how much capacity you truly have? How many clients per advisor, how many workflows per staffer, how much room before systems break?
• Gaps: Can you see what’s missing? The services you can’t deliver, the roles you don’t have, the processes that stall growth?
• Profitability: Are you clear on where you’re hitting hard—and where you’re just shadowboxing? Which services are profitable, which clients are net contributors, and which drain resources?

Without measurement, balance is just a feeling. With it, balance becomes a strategy.

The Challenge

Balance is not natural. Most of us lean on what we’re good at and stay there. The truth is, greatness comes from deliberately adding what you don’t have—and proving it with numbers.

That may be a partner. A strategic hire. An acquisition. Or a service provider who strengthens a spoke of your wheel. But it must also be a scoreboard, so you know where you stand every round.

At 2:23 a.m., Simeon and I were celebrating Crawford’s victory before crashing for a few hours of sleep. But the real win was the reminder: balance beats specialization when the stakes get high.

And for wealth management firms, the stakes have never been higher.

This is your time. Recruit better. Train better. Outsource wisely. Professionalize relentlessly. And above all, measure everything—so you know how hard you’re hitting, where you’re weak, and when you’re ready to move up weight classes.

Rising Tide is written by Jud Mackrill. Have thoughts on this week’s edition? Hit reply—I read every response.