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Podcast

For Financial Advisors

Zero to $1B: How a Lincoln Financial Ensemble Found a New Independent Path with SagePoint

Posted by Mindy Diamond

A conversation with Shane Morrow, Managing Partner & CEO, IronBridge Wealth Counsel

Overview

Shane Morrow discusses leaving insurance-based independent broker dealer, Lincoln Financial, with a team of experienced partners and how their new firm IronBridge Wealth Counsel has thrived with SagePoint Financial, an IBD under the Advisor Group umbrella of firms.

Listen in…

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> Download a transcript of this episode…

NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation.

About this episode…

Mindset can be a powerful driver.

For Shane Morrow, it served as a motivational force behind building a billion-dollar business.

Having come from the institutional world, Shane started out in the financial planning business at Lincoln Financial with zero—no clients, no assets under management.

That was in 2016. Today Shane’s the CEO and managing partner of billion-dollar independent firm IronBridge Wealth Counsel.

It’s extraordinary growth that Shane credits to having an optimistic attitude and a growth mindset with an eye on the long-term—as well as teaming up with the right group of experienced partners.

An ensemble practice with offices across the country, the core team started working together in 2004, motivated by filling gaps that they saw in the financial services industry.

With that in mind, their vision was to serve as advocates for their clients—what they call “champions of their financial well-being.”

Yet it was a vision they were unable to fully realize while at the insurance-based independent broker dealer, Lincoln Financial, that propelled them into exploration. That process resulted in the team, which was managing some $800 million at the time, moving their independent firm IronBridge Wealth Counsel to SagePoint Financial, an IBD under the Advisor Group umbrella of firms.

That was in June of 2022. And IronBridge kicked off 2023 with over $1B in assets under management.

Sure, you’re likely saying that mindset alone can’t power that kind of growth. And no doubt you’re right. But it does power the vision and execution path that one takes to achieve their goals. And that’s what Shane talks about in this conversation with Louis Diamond. They discuss:

  • Entering the world of financial advice without a book of business—and what Shane feels were the critical steps that led to his growth.
  • The choice to leave Lincoln Financial as one of the most significant groups within the firm—and what prompted them to explore their options.
  • The due diligence process—and why they opted to stay in the independent broker dealer model with SagePoint.
  • The value of building an ensemble practice—and how they plan to create a place where other advisors can grow and thrive.

It’s a powerful episode that reminds advisors and business owners alike that being honest with yourself about your “why” and ensuring you’re running “to something” and not “from something” is essential to success. Listen in for actionable advice on growth and how to ensure your mindset matches your ultimate mission.

Related Resources

How CPA Referrals Drove a Former Lincoln Financial Independent Group to $12B in Just 5 Years
A conversation with Paul Saganey, Founder and President of Integrated Partners. Listen->

How to Optimize Your Business for Growth and Success: 8 Questions Advisors Need to Ask Themselves Rising above the day-to-day tasks of your “job” to invest time in thoughtful strategizing and planning can be the gamechanger you’ve been looking for. Read->

Why Advisors in “Growth Mode” Are Sacrificing Momentum to Change Firms or Models
It seems to be counter-intuitive for an advisor or team who may be riding the wave of their “best year ever” to change jerseys or break for independence. Yet it’s happening in record numbers. Read->

Shane Morrow, CFP®, CIMA®, CAIA®
Managing Partner

Mr. Morrow is co-founder and Managing Partner of IronBridge Wealth Counsel, a national ensemble financial advisory firm. He is responsible for the firm’s strategic direction and leading its investment management division. Additionally, he currently serves as an independent consultant to First Ascent Asset Management, an investment management firm based in Denver, Colorado. Prior to founding IronBridge, Mr. Morrow served as Vice President-Consultant Relations at Sage Advisory Services, Corporate Vice President-Wealth Management at New York Life Insurance Company, and Director of Investment Consulting at Independent Portfolio Consultants.

Mr. Morrow received his BA in Economics from Amherst College. He has earned the Certified Financial Planner™ certification, the Certified Investment Management Analyst® designation, and the Chartered Alternative Investment Analyst® designation. He is currently a Level II Chartered Financial Analyst candidate. He has also completed two full Ironman races and multiple marathons and half Ironman races.

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About Mindy Diamond

CEO – By counseling advisors on how to ask the right questions and “dig deep”, she helps them look at all of the opportunities available to find the one that allows them to reach their full potential. That is, to best serve their clients and live a life that is in sync with their own beliefs and values. Learn more...

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