Making the decision to downsize after growing can be shocking, but might also be the best decision for work-life balance. Today's guest shares the lessons she learned from growing her firm to more than 100 clients, before ultimately deciding that downsizing was the right choice.
Carolyn McClanahan is the founder of Life Planning Partners, an RIA based in Jacksonville, Florida, that oversees $300 million in assets under management for 65 client households. In this episode, Carolyn opens up about how she used business coaches to create clearer career paths, establish measurable expectations, and improve compensation structures, before ultimately recognizing that the firm's growth strategy was contributing to burnout. Listen in to learn why she believes the financial planning profession could benefit from medical-style residency programs and why building a great advisory firm sometimes means knowing when not to grow.
