Developing the Next Generation of Highly Successful Advisors with Alex Goss

Episode 036: The conventional route to becoming a financial advisor is no longer the only path to success. The industry is evolving, demanding a more holistic and strategic approach to developing elite, successful, and growing advisors. The future now lies in joining established practices, where guidance from experienced advisors, exposure to their expertise, and participation in a well-defined succession plan can make all the difference.

In this episode of The Connected Advisor, Kyle talks with Alex Goss, Managing Partner at NewEdge Capital Group and CEO & Co-Founder at NewEdge Advisors. Before serving at NewEdge Advisors, Alex built his father's advisory practice into an $8 billion RIA. In his current role, Alex is fully dedicated to understanding what successful advisors need. His mission is to provide advisors with the tools and flexibility they require to better serve their clients without the limitations wirehouses and big banks force on advisors.

Alex talks with Kyle about his journey in the wealth management industry and his passion for mentorship. He explains how NewEdge Advisors is creating a home for successful, growing practices by providing resources, better pricing, and technology integration. Alex also provides his insights on the industry's future, where technology and the emergence of regional culture-first firms offer advisors more choices and opportunities for growth.

Join us as we discuss:

• [02:07] - The money moment that inspired Alex to start a financial advisory business.
• [06:14] - Why Alex is passionate about mentoring.
• [09:32] - Building career paths and opportunities in wealth management.
• [13:37] - How people at NewEdge Capital grow and succeed.
• [17:56] - How NewEdge integrates technology into its practice.
• [21:20] - Alex's outlook on the financial planning industry.
• [27:06] - Milemarker minute: favorite restaurant, LSU Tiger prediction, golf course bucket list, favorite holiday.

Key Takeaways

• Financial advisors are business owners. They have the potential to build successful small businesses by taking care of their clients and building strong relationships.
• The wealth management industry is experiencing a shift towards a more entrepreneurial model, where financial advisors are seen as business owners rather than employees.
• Mentorship and exposure to successful individuals are crucial in inspiring and empowering young people to realize their potential and pursue careers in the industry.
• New Edge Advisors focuses on supporting established, successful practices by providing resources, better pricing, and technology integration. The firm aims to create a home for these practices and help them grow and scale.

Quotes

"Our country's number one asset is our youth. Once a kid realizes they have everything they need to do anything and everything that anybody else can, it's amazing how transformative that can be in their life." ~ Alex Goss

"It takes associateship, mentorship, and time to become a really successful advisor. Opportunity comes through exposure, mentorship, seeing other people you can aspire to become like or accomplish what they've accomplished." ~ Alex Goss

"The traditional path is dead. The future now is more often joining an established practice and becoming part of the succession." ~ Alex Goss

Links 

• Alex Goss on LinkedIn
• NewEdge Capital Group
• NewEdge Advisors
• Nola Angel Network

Connect with our hosts

• Milemarker.co
• Kyle on LinkedIn
• Jud on LinkedIn

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