Guest: Matt Somberg, the co-founder of Gottfried & Somberg Wealth Management in Glastonbury, CT. Matt’s firm has nearly $2B in AUM and Matt has been ranked by Barron’s as one of the top 100 independent advisors in the country.
In a Nutshell: Many established advisors came up in an “eat what you kill” environment. Today, one key to sustainable organic growth is to keep advisor-client relationships “alive” as long as possible and nurture those relationships across every touchpoint in the firm. Matt Somberg and his partner went so far as to build a 20,000 square foot “one-stop shop” that houses their firm and complementary services including attorneys and CPAs. In our conversation, Matt explains how that vision and level of service attracts 50 – 100 new clients per year with almost no marketing.
.Matt Somberg and I discuss:
- The typical career path Matt’s firm lays out to prospective talent, often starting with interns from local universities.
- Teaching new advisors how to balance rainmaking and client service responsibilities, including a real-world example of Matt’s mentorship in action.
- Why Matt places high importance on monitoring “advisor capacity.”
- Why Matt refers clients to third-party support professionals (like CPAs) rather than employing those pros in house.
- How Matt and his team are working through “the messy middle” and sustaining their organic growth.
- The importance of reinvention and continuous learning.
- How Matt envisions using technology to create a positive client experience 365 days per year, not just when you’re sitting down with clients.
.Resources Related to This Episode
Note: The image of Matt was created using Midjourney AI.
