Ep 406: Exiting To A Perpetual Purpose Trust To Facilitate Internal Leadership Succession Without Indebting G2 Advisors with Michael Kramer

Michael Kramer is the Manager of Natural Investments, an RIA based out of San Francisco that has offices across the country and oversees $1.9 billion in assets under management for 1,300 households. Michael's firm uniquely employed a perpetual purpose trust structure for its internal succession plan, which allowed the founding partners to monetize their ownership without burdening new advisors with debt. This approach also fostered a more equitable leadership structure, not solely based on share ownership. Listen in as Michael talks about the firm's governance by "trust stewards" and the unique role of a "trust enforcer" to ensure accountability as well as why the firm chose this model over traditional ESOP or cooperative structures. Michael also reflects on building his practice from the ground up, leveraging public speaking to attract like-minded clients, and embracing his role as a "seed planter" to foster a business that embodies his values and sustains beyond his tenure. For show notes and more visit: https://www.kitces.com/406

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The Financial Advisor Success podcast brings you real success stories and insights from the most successful financial advisors, and leading industry consultants, about how to take your advisory business to the next level. Get a glimpse of what it's like behind the scenes building a successful advisory business, and how entrepreneurial advisors navigate the inevitable highs, and lows, of growing a firm. Whether you're a new financial advisor trying to get started on the right foot, or an experienced advisor who's hit a wall, we're here to give you the insights and inspiration you need to break through and reach the level of success you want to achieve. Subscribe to the show, and get even more at the leading industry blog Nerd’s Eye View at www.Kitces.com.