Trust is the real asset in an advisory business and it’s the first thing at risk when growth isn’t handled intentionally.

In Episode 4 of The Advisor’s Compass, Andy Schwartz and Chuck Downs unpack one of the most sensitive and misunderstood moments in an advisor’s career: introducing lead advisors and transitioning client relationships without losing trust.

Andy shares hard-earned lessons from building a multi-billion-dollar practice, including why most advisors wait too long to build a next-generation bench and how doing it wrong can quietly erode both client confidence and firm value.

This episode explores:

• Why trust must transfer before responsibility does

• How to introduce new advisors without clients feeling handed off

• The difference between service advisors and growth advisors

• How compensation and incentives protect alignment and retention

• Why a business built around one person is harder to scale, value, or sustain

If your clients still only trust you, your business is more fragile than it looks.

This conversation is essential for advisors thinking about growth, continuity, and building something that truly lasts.

New episodes monthly.

Referrals are not a tactic. They are the foundation of a great advisory business.

In Episode 3 of The Advisor’s Compass, Andy Schwartz and Chuck Downs break down why asking for referrals is a make-or-break skill for advisors at every stage and why most never develop a real philosophy around it.

Andy shares the exact language he used from the very beginning of his career, why he asked for referrals on first meetings, and how conviction consistently beats hesitation. They explore the beliefs that hold advisors back, the responsibility advisors have to the people their clients care about, and why avoiding the ask can quietly limit both impact and growth.

This episode also dives into:

• Why referrals shorten sales cycles and raise close rates

• How conviction changes client behavior

• Soft vs direct ways to ask without feeling salesy

• The role of centers of influence and “apostles” in exponential growth

• Why not asking has real consequences over time

  
  

If you want to build a business that grows through trust, clarity, and intention, this conversation is essential.

New episodes monthly.

Andy Schwartz and Chuck Downs unpack what “capacity” actually means in an advisory business and why it’s the difference between staying busy and truly scaling. Andy explains how capacity creates confidence in the marketplace, why great people (not you) should do the technical work, and how to build leverage through hiring, sharing, or outsourcing.

They cover: hiring smarter than yourself, paying above market to kill turnover, “hire slow, fire fast,” and viewing shared resources like electricity - you don’t need them all the time, but when you flip the switch, the power has to be there. They also hit common traps: focusing on expenses over revenue, trying to be the capacity yourself, and letting fear block the next hire.

If you want a practical path to more wins, steadier months, and calmer leadership, start here.
New episodes monthly.