The Growth Strategy Behind a $3B Succession-Ready Firm with David Hefty
Episode 092: David Hefty is the 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. With more than 25 years in the financial services industry, David has a deep passion for creating sustainable, client-centric firms built on transparency, operational excellence, and leadership development. In this episode, Kyle Van Pelt talks with David about 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 nearly $3B in AUM by focusing on intentional succession planning, centralized operations, and a transparent, advisor-first culture. In this episode: (00:00) - Intro (02:20) - David's money moment (04:17) - Founding and growing Credent Wealth Management (06:28) - Organic growth and creating a raving fan experience (08:46) - The most common questions advisors ask about acquisitions (11:28) - Succession-focused TAMP (17:09) - The realities of running an RIA business (23:07) - Growing firms that don’t rely solely on the founders (28:52) - The Credent way of business development (33:53) - Credent's technology strategy (40:28) - David's thoughts about the future of wealth management (43:32) - David's Milemarker Minute 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 Links David Hefty on LinkedIn Credent Wealth Management Penny Phillips Journey Strategic Wealth Slowing Down to the Speed of Joy Connect with our hosts Milemarker.co Kyle on LinkedIn Jud on LinkedIn Subscribe and stay in touch Apple Podcasts Spotify YouTube Produce game-changing content with Turncast Turncast helps your company grow by producing top-quality content and fostering transformative conversations. We specialize in content generation, podcasting, digital strategy, and audience growth for fintech and financial services companies. Learn more at Turncast.com.
Episode 092: David Hefty is the 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. With more than 25 years in the financial services industry, David has a deep passion for creating sustainable, client-centric firms built on transparency, operational excellence, and leadership development.
In this episode, Kyle Van Pelt talks with David about 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 nearly $3B in AUM by focusing on intentional succession planning, centralized operations, and a transparent, advisor-first culture.
In this episode:
-
(00:00) - Intro
-
(02:20) - David's money moment
-
(04:17) - Founding and growing Credent Wealth Management
-
(06:28) - Organic growth and creating a raving fan experience
-
(08:46) - The most common questions advisors ask about acquisitions
-
(11:28) - Succession-focused TAMP
-
(17:09) - The realities of running an RIA business
-
(23:07) - Growing firms that don’t rely solely on the founders
-
(28:52) - The Credent way of business development
-
(33:53) - Credent's technology strategy
-
(40:28) - David's thoughts about the future of wealth management
-
(43:32) - David's Milemarker Minute
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
Links
Connect with our hosts
Subscribe and stay in touch
Produce game-changing content with Turncast
Turncast helps your company grow by producing top-quality content and fostering transformative conversations. We specialize in content generation, podcasting, digital strategy, and audience growth for fintech and financial services companies. Learn more at Turncast.com .
