Today, we have an exciting conversation with Ryan Mohr and Eric Thomas, owners of Clarity Capital Management, a fee-only firm out of Portland, OR, where we talk about all things partnering—how to do it, when to do it, and all of the potential benefits. Three and a half years ago, Ryan started his firm as the sole owner and built it to serve over 45 client households. As the pressures of growth continued, the desire to bring on a partner was at the forefront of his mind.
On today’s show, Eric and Ryan talk about their decision to partner together, how they established equity buy-in for Eric, and the process they followed to finalize their agreements. Eric discusses why the timing was right for him to transition into the fee-only space now vs. when Ryan originally opened the firm. Ryan shares what it was like to offer equity into the company that he built from the ground up. This discussion provides a great example of how to partner with intentionality after a strong foundation has been built.
If you’re interested in what it’s like to bring a partner into an established firm, this show is for you.
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What You'll Learn from This Episode:
- An overview of who Ryan and Eric are and how Ryan built Clarity Capital Management (00:02:48)
- How Ryan structured the firm knowing he wanted to add in a partner down the line (00:09:05)
- The ins and outs of their partnership and the split they developed (00:15:31)
- What Eric’s transition into the fee-only space looked like (00:19:39)
- A wide-angle view of the transition process from both sides (00:21:57)
- The long-term goals of Clarity Capital Management (00:37:06)
- How COVID impacted their partnership and firm (00:43:14)
- In hindsight, what Ryan and Eric would have done differently when partnering (00:45:47)
- Advice for those thinking about transitioning or partnering with a friend (00:47:54)
Featured on the Show:
- Ryan Mohr: Website | LinkedIn | Find an Advisor Profile
- Eric Thomas: Website | LinkedIn | Find an Advisor Profile
- CERTIFIED FINANCIAL PLANNER™
- FP Transitions
- Financial Advisor Success Podcast Ep 72: The Financial Mechanics Of Buying Into An Advisory Firm And RIA Valuation Trends with David DeVoe
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