| Year | Clients | Client Growth | Growth % | New Growth % | Growth Drivers |
|---|---|---|---|---|---|
| 2013 | 80 | 80 | Firm Founded, initial client base from founders’ books | ||
| 2014 | 90 | 10 | 11.11% | 11.11% | Early organic referrals, limited marketing |
| 2015 | 102 | 12 | 11.76% | 11.76% | Steady organic growth, advisor-sourced clients |
| 2016 | 117 | 15 | 12.82% | 12.82% | Growing referral network, improved local presence |
| 2017 | 142 | 25 | 17.61% | 17.61% | Expansion of planning services, stronger referral engine |
| 2018 | 172 | 30 | 17.44% | 17.44% | Digital content begins, early marketing traction |
| 2019 | 256 | 84 | 32.81% | 15.23% | Advisor recruitment, book acquisition |
| 2020 | 292 | 36 | 12.33% | 12.33% | COVID-era volatility, still inbound interest |
| 2021 | 336 | 44 | 13.10% | 13.10% | Digital marketing gains, growing advisor strength |
| 2022 | 388 | 52 | 13.40% | 13.40% | Continued digital marketing, stronger referrals |
| 2023 | 458 | 70 | 15.28% | 15.28% | Inbound lead surge, CSA strain begins |
| 2024 | 627 | 169 | 26.95% | 11.00% | One-Time Spike, two advisors join with their books |
| 2025 | 695 | 68 | 9.78% | 9.78% | Return to organic capacity, workflow bottlenecks cap throughput |
| 2026 (YTD) | 725 | 30 | 4.14% | 4.14% | Capacity ceiling reached, mid-year snapshot |
Client Growth Snapshot
1. Long-Term Growth
a. From 2013 → 2026
• Clients grew 80 → 725 (CAGR ≈ 15.9%)
• Growth driven by referrals, advisor recruitment, and market strength
• Two major advisor‑book acquisitions created temporary spikes
b. Extremely strong for an RIA
2. Client Growth Phases
a. Phase 1 — Early Steady Growth (2013–2018)
b. Phase 2 — Acceleration (2019-2022)
c. Phase 3 — Acquisition Spike → Capacity Plateau (2023–2026)
3. Key Insights
a. 2024 spike is not organic growth – one-time acquisition event
b. Organic capacity roughly 70 clients/year
c. 2026 slowdown reflects capacity limits, not demand
d. The firm has reached a throughput ceiling, making forecasting and capacity planning essential for sustaining future growth
| Year | Total AUM | AUM Growth | Growth % | New Growth % | Growth Drivers |
|---|---|---|---|---|---|
| 2013 | $205,503,895 | $205,503,895 | Firm Founded, initial AUM from founders’ books | ||
| 2014 | $237,940,866 | $32,436,971 | 13.63% | 13.63% | Early steady growth, strong markets |
| 2015 | $271,819,314 | $33,878,448 | 12.46% | 12.46% | Organic client acquisitions; stable equity markets |
| 2016 | $315,184,571 | $43,365,257 | 13.76% | 13.76% | Market tailwinds, growing planning demand |
| 2017 | $381,203,160 | $66,018,589 | 17.32% | 17.32% | Strong equity markets, higher-AUM households recruited |
| 2018 | $459,249,792 | $78,046,632 | 16.99% | 16.99% | Continued market strength, improved client mix |
| 2019 | $648,148,367 | $188,898,575 | 29.14% | 15.26% | Advisor recruitment, large AUM lift |
| 2020 | $738,096,241 | $89,947,874 | 12.19% | 12.19% | Market recovery post-COVID, stronger than expected retention |
| 2021 | $850,162,741 | $112,066,500 | 13.18% | 13.18% | Organic growth, rising markets |
| 2022 | $1,006,990,527 | $156,827,786 | 15.57% | 15.57% | High-AUM households prioritized, strong referral flow |
| 2023 | $1,175,398,791 | $168,408,264 | 14.33% | 14.33% | Digital-marketing lift, advisor productivity |
| 2024 | $1,624,331,141 | $448,932,350 | 27.64% | 18.10% | One-Time AUM Spike, two advisors join with their books |
| 2025 | $1,793,980,251 | $169,649,110 | 9.46% | 9.46% | Return to organic AUM growth |
| 2026 (YTD) | $1,879,047,361 | $85,067,110 | 4.53% | 4.53% | Capacity-driven slowdown, mid-year snapshot |
AUM Growth Snapshot
1. Long-Term Growth
a. From 2013 → 2026
• AUM grew from $205.5M → $1.879B (CAGR ≈ 15.9%)
• Growth closely mirrors client growth, with the same structural inflection points
2. AUM Growth Phases
a. Phase 1 — Early Steady Growth (2013–2016)
b. Phase 2 — Acceleration (2017-2022)
c. Phase 3 — Acquisition Spike → Capacity Plateau (2023–2026)
3. Key Insights
a. 2024 spike is not organic growth – one-time acquisition event
b. Organic capacity roughly 70 clients/year
c. AUM continues rising even when client onboarding plateaus
d. Operating at maximum organic throughput, reinforcing the need for capacity planning and workflow redesign to sustain future growth
| Year | Total Advisors | Advisors Added |
|---|---|---|
| 2013 | 2 | |
| 2014 | 2 | 0 |
| 2015 | 3 | 1 |
| 2016 | 3 | 0 |
| 2017 | 4 | 1 |
| 2018 | 4 | 0 |
| 2019 | 6 | 2 |
| 2020 | 6 | 0 |
| 2021 | 7 | 1 |
| 2022 | 8 | 1 |
| 2023 | 8 | 0 |
| 2024 | 10 | 2 |
| 2025 | 10 | 0 |
| 2026 (YTD) | 10 | 0 |
Advisor Growth Snapshot
1. Early Expansion (2013-2017)
a. Slow, steady growth to 4 advisors
• Hired two advisors to manage current book
2. Recruitment Event 1 (2019)
a. Added advisor with a full book
b. +45 clients, +$90M AUM acquired
c. Additional 41 organic clients, +$98M AUM
3. Further Expansion (2021-2022)
a. Two advisors added to support rising demand
4. Recruitment Event 2 (2024)
a. Two high‑performing wirehouse advisors joined
b. +100 clients, +$155M AUM acquired
c. +69 organic clients, +$300M AUM (boosted by several large households)
5. Key Insights
a. Advisor growth is event‑driven, not linear
b. Productivity remains flat across the team, advisors are constrained by task mix, not client volume
c. Operational bottlenecks in CSA execution and compliance review, not advisor headcount
Assumptions
1. Clients
a. Organic client capacity ≈ 70 clients/year
b. Scenario modeling: 50 (Conservative), 70 (Expected), 85 (Aggressive)
2. AUM
a. AUM growth modeled at 12–14%, driven by 5–6% market returns and $1.1M avg household size
b. Advisor‑book acquisitions included only in Aggressive scenario
3. Revenue
a. Advisory revenue based on 0.85% blended fee
b. Planning revenue scenario modeling: 12% adoption x $1,800/year (Expected), 8% x $1,500 (Conservative), 20% x $2,400 (Aggressive)
c. Expected revenue CAGR: 12–15%
4. Staffing
a. Advisors
• 1 Advisor every 3 years (Expected), 1 Advisor every 5 years (Conservative), 1 Advisor every 2 years (Aggressive)
b. Client Service Associates
• 60-70 new clients/year (Expected), 90-110 new clients/year (Aggressive)
• Conservative model excluded, workflow redesigned around CSAs
c. Planners & Compliance Reviewers
• Scale with client and AUM growth
5. Capacity
a. Organic onboarding ceiling: ~70 clients/year
b. Workflow redesign increases capacity to 100–120 clients/year
c. Advisor capacity is not the bottleneck
d. Growth ceiling determined by CSA + compliance throughput
Client Forecast
3-Year Client Forecast
a. Expected scenario (70 clients/year)
• 2027: 725 + 70 = 795, 2028: 795 + 70 = 865, 2029: 825 + 50 = 875
b. Conservative scenario (70 clients/year)
• 2027: 725 + 50 = 775, 2028: 775 + 50 = 825 2029: 825 + 50 = 875
c. Aggressive scenario (90 clients/year)
• 2027: 725 + 90 = 815, 2028: 815 + 90 = 905, 2029: 905 + 90 = 995
Revenue Forecast
Expected
| Year | Total Clients | New Clients | Total AUM | Advisory Fee Revenue | Planning Rev (New Clients) | Total Revenue |
|---|---|---|---|---|---|---|
| 2026 | 725 | 70 | $1,879,047,361 | $15,971,903 | $15,971,903 | |
| 2027 | 795 | 70 | $2,059,394,966 | $17,504,857 | $15,120 | $17,519,977 |
| 2028 | 865 | 70 | $2,249,661,689 | $19,122,124 | $15,120 | $19,137,244 |
| 2029 | 935 | 70 | $2,450,393,082 | $20,828,341 | $15,120 | $20,843,461 |
Conservative
| Year | Total Clients | New Clients | Total AUM | Advisory Fee Revenue | Planning Rev (New Clients) | Total Revenue |
|---|---|---|---|---|---|---|
| 2026 | 725 | 50 | $1,879,047,361 | $15,971,903 | $15,971,903 | |
| 2027 | 775 | 50 | $2,037,394,966 | $17,317,857 | $6,000 | $17,323,857 |
| 2028 | 825 | 50 | $2,204,451,689 | $18,737,839 | $6,000 | $18,743,839 |
| 2029 | 875 | 50 | $2,380,696,532 | $20,235,921 | $6,000 | $20,241,921 |
Aggressive
| Year | Total Clients | New Clients | Total AUM | Advisory Fee Revenue | Planning Rev (New Clients) | Total Revenue |
|---|---|---|---|---|---|---|
| 2026 | 725 | 90 | $1,879,047,361 | $15,971,903 | $15,971,903 | |
| 2027 | 815 | 90 | $2,081,394,966 | $17,691,857 | $43,200 | $17,735,057 |
| 2028 | 905 | 90 | $2,294,871,689 | $19,506,409 | $43,200 | $19,549,609 |
| 2029 | 995 | 90 | $2,520,089,632 | $21,420,762 | $43,200 | $21,463,962 |