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November 10, 2021

Ep. 8 Take the Seat On A Rocket Ship ft. RFG Advisory CIO Rick Wedell

“If Someone offers you a seat on a rocket ship, you don’t ask questions. You just sit down and get to work”

This War Room Huddle episode featuring Rick Wedell Chief Investment Officer at RFG Advisory dives into topics on building the future, navigating the succession planning process, why he prefers video content above all else, andthe big answer to why choose RFG?

“If anyone ever offers you a seat on the rocket ship, you don’t argue about whether or not it’s an aisle or a window,you just take the seat,” Rick says.

Rick is a veteran investor and brings institutional street cred to RFG and its advisors as the Chief Investment Officer. He holds degrees from Harvard University and Stanford University, was named Henry Ford Scholar, andspent 12 years at Bain Capital before joining RFG in 2016. He was recently recognized by ThinkAdvisor as a 2021 LUMINARY in the Thought Leadership & Education category. RFG Advisory was also named to the LUMINARIES Class of 2021, receiving firm-wide recognition in the same category for RIAs.

Rick hosts client events and in-person roadshows on average 15 days a month. Needless to say, he’s wracking theDelta miles. He’s wired as a thought-leadership machine, ready to go in a moment’s notice armed with an artillery of knowledge. There are few industry CIOs to come close to Rick’s herculean efforts. Find out more and listen to this incredible episode of War Room Huddle podcast.

Join the conversation to hear about:

  • Welcome Rick to War Room Huddle (0:35)
  • Rick’s education and background (1:30)
  • If someone offers you a ride on a rocket ship, just take the seat (7:00)
  • Why choose RFG? (8:35)
  • Building the future: how RFG goes about the investment process (12:05)
  • The story of making it on the fridge (17:00)
  • The rewarding feeling of helping clients get from point A to point B (20:00)
  • Navigating the succession planning process (22:15)
  • Goodbye white papers, video content is the wave of the future (28:35)
  • Human emotion and why it’s important to have a financial advisor (33:30)

 

Succession Planning. Enterprise Value. Investment Management. This War Room Huddle episode featuring RFG Advisory Chief Investment Officer Rick Wedell dives into topics that will leave independent advisors furiously jottingdown notes, ideas, and tips.

Rick is a veteran investor and brings institutional street cred to RFG and its advisors as the Chief Investment Officer. He holds degrees from Harvard University and Stanford University, was named Henry Ford Scholar, andspent 12 years at Bain Capital before joining RFG in 2016. He was recently recognized by ThinkAdvisor as a 2021 LUMINARY in the Thought Leadership & Education category. RFG Advisory was also named to the LUMINARIES Class of 2021, receiving firm-wide recognition in the same category for RIAs.

This is Rick’s current chapter, not where he began. Rick didn’t start his career as CIO, sailing to this moment thanks to a casual wind, he circumnavigated his entire route point by point. Rick has a unique, dynamic background thathas influenced him throughout the years.

He was raised here in RFG territory in Birmingham, Alabama. He graduated from Mountain Brook High School and then went on to Harvard University where he studied applied mathematics and graduated Magna Cum Laude.From there he joined Bain Capital as one of the first employees in what is now known as an international juggernaut in finance. “A $25 million portfolio, when you’re three years out of school is like the greatest thing in the world,” Rick says.

A couple of years later, Bain Capital sent him off to Stanford University, where he got his MBA. There he was namedHenry Ford Scholar. He was number one in his MBA program at Stanford. After 12 years at Bain Capital, Rick was head of consumer fixed income and helped to run a very large portfolio for them. He missed the thrill and energy of being a part of an entrepreneurial company in the early days of its growth trajectory. Rick rejected several offersfrom Boston and Wall Street when he chose to go bold, switch things up, and join RFG.

“If anyone ever offers you a seat on the rocket ship, you don’t argue about whether or not it’s an aisle or a window,you just take the seat,” Rick says.

The world is changing fast, exploding with ideas. There’s no end to the possibilities. As an innovator in the wealth management industry, RFG Advisory’s fully integrated tech platform is designed to help advisors take their practice tothe next level. It was an intentional decision to create the era of the future by building a platform dedicated to supporting independence, independent advisors, and their clients.

Rick’s superpower is that he’s a fantastic communicator of complex topics. He speaks in an engaging andunderstandable way that makes people feel welcome and heard. Rick is the face and voice behind RFG’s Market Commentary video series with over 60 videos and 13,000+ views on YouTube.

Rick hosts client events and in-person roadshows on average 15 days a month. Needless to say, he’s wracking theDelta miles. He’s wired as a thought-leadership machine, ready to go in a moment’s notice armed with an artillery of knowledge. There are few industry CIOs to come close to Rick’s herculean efforts.

We started the War Room Huddle podcast, so advisors can get a dose of inspiration, motivation, and actionableinformation. Huddle up. Join RFG.

Listen to this episode with Rick Wedell Chief Investment Officer at RFG Advisory to understand more about building the future, navigating the succession planning process, why he prefers video content above all else, and the big answer to why choose RFG? As an independent advisor, it’s important to regularly reflect and determine if what you’re doing is helping or hindering your business. Below are three epic tips from Rick that you’ll want to remember!

 

  1. Find something bigger than As Rick explains in this episode, one of the things that he loves about RFG is that it’s a group of really smart, really talented individuals building something bigger thanthemselves.
  2. Be diligent about building up enterprise value. Succession planning isn’t a miraculous process thatarrives wrapped with a bow on your “You either build an enterprise so that you can subsequently sell it, or you run your practice until your boots fall off,” says Rick. If you can’t walk away from your businesswith minimal impact to the business, it severely limits the valuation that you will receive in a successionplanning process.
  3. Add that personal touch. Integrating some type of personal interaction is very important to enhance your client’s entire experience. It builds trust and answers their After all, “this is their money,” as Rick says. “They’re interested in knowing who it is that manages those portfolios for them.” Connect with your clients. Let them know you care. They know you are proactive about managing their money—one of themost important things to them.

 

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Tags

  1. Succession Planning
  2. Technology
  • Next Gen
  1. Practice Management
  2. Growth Strategies
  3. Social media/marketing
  • Work Life Balance