The stakes are high with every transition. But for some, they’re even higher.

And this breakaway story is about as high stakes as it gets:

A family business that started at Edward Jones in 1981, putting over 40 years of growth and three generations on the line.

Jason Barber was the third generation to join the practice his grandfather Paul and father Steve built at the firm. Then, nearly a decade later, Jason’s cousin, Taylor Pankratz, left Raymond James to become a part of their team.

Yet the pivotal moment came in 2023, when Jason, Steve, and Taylor made the tough decision to leave the firm where their family business was born and thrived, growing to over $500 million in assets under management.

So why would a team with this much history with Jones and whose business was literally built over generations and decades with the same firm, decide it was time to explore their options?

Jason and Taylor’s response is a common one that we hear from growth-minded advisors: “We outgrew the firm.”

So many advisors find themselves at a point where their desire to grow and the ability to achieve their goals is limited by the firm they work for—whether that be at Edward Jones or any other employee-model firm.

For Jason and Taylor, the only way to achieve what they set out to do was to launch their own RIA, and in 2023, Holistic Planning was born.

In this episode with Jason Diamond, Jason and Taylor share the story, including:

  • The culture change at Edward Jones—and how that motivated them to consider their options.
  • The limitations they were feeling at the firm—and how removing the “governor on their growth” is allowing them to now build and grow as they desire.
  • Their due diligence process—and why they ultimately chose to build their own independent firm.
  • The family’s response to the news of change—and why their grandfather said, “What took you so long?”
  • The specific things they were trying to implement at Jones—and what they could do at their own firm that’s been a real game-changer.
  • The launch of their companion firm, Uptick Partners—and how they envision it will allow other breakaways to leverage the platform they built.

It’s an episode with a bit of something for every growth-minded advisor with helpful guidance on the process of considering change. Plus, it offers a first-hand perspective for senior and next-gen advisors thinking through the next phase of their business.

Download a transcript of this episode…

Listen to more episodes of Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change

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