In this episode, Steve talks with Peter Succoso of Sherpa Financial in Wilmington, Delaware.

Peter’s worn many hats throughout his four-decade career. He spent his early years primarily in support roles until an opportunity led him straight to consulting. There, Peter discovered his true passion: adding value by helping others make great business decisions. After a series of mergers and acquisitions, Sherpa Financial now helps clients design a map for their financial future.

Rather than building investment portfolios, Peter realized that his primary purpose was helping others make their money last throughout retirement.  Much like a shepherd, Peter guides clients back down their mountain after a lifetime of financial trekking.

Peter talks with Steve about achieving goals as a business owner, making corporate change stick, the importance of accountability, and why business principles should resonate with your employees and the clients you serve.

“One of the things that people have to understand in our business is that, in addition to doing the work that you love to do – work with people, manage investments, help them with their various life needs – there’s also the part of it that’s really important and that’s running a business.” ~ Peter Succoso

Main Takeaways

  • Building your own business after years of corporate life teaches you lessons similar to those that clients learn upon retirement. At some point, you have to learn to move forward without the support you’ve always leaned on.
  • Before launching a business, make a SWOT analysis. Analyzing your strengths, weaknesses, opportunities, and threats will help highlight the gaps in your business and the areas you can capitalize on.
  • Find accountability partners because accountability is essential for success.
  • Listen to clients more than you speak. Listening to their stories and their feedback will help you add value and understand when you’re providing that value.

Links and Important Mentions

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Steve Atkinson

Steven Atkinson

Managing Director, Advisor Relations

For 25 years Steve has helped advisors get into the RIA space and/or helped them grow by developing and sharing a variety of client experience best practices. Steve was an original architect of Buckingham’s Design | Build | Protect® client experience process along with the Life Discovery and Feedforward programs. Steve is also an author of The Wealth Solution and 27 Principles Every Investor Should Know. He is also the host of the Admired Advisor podcast. Steve is a graduate of the University of Nebraska at Omaha with a Bachelor’s in Finance and Investment Banking. Steve lives in Edwards, CO and enjoys spending time with his daughters skiing in the winter or golfing in the summer .