In the ever-evolving landscape of financial advisory, the stakes can soar higher than ever with each career transition. Few stories exemplify this better than the recent journey of Jason Barber and Taylor Pankratz, two financial advisors who made a significant leap by leaving Edward Jones to establish their own Registered Investment Advisor (RIA), Holistic Planning.
The Barber family business laid its roots at Edward Jones in 1981 and further cultivated it over multiple decades and across three generations. Jason Barber joined the practice, which was originally built by his grandfather, Paul Barber, and his father, Steve Barber. Later, his cousin Taylor Pankratz became a member of the team at Edward Jones after leaving Raymond James. By 2023, the family had amassed over $500 million in assets under management, making their decision to break away a momentous one.
The pivotal question for many was, “Why would a successful team with deep historical ties to Edward Jones decide to explore new horizons?” As shared on the Diamond Podcast, Jason and Taylor’s reason for this bold move is one that resonates with many growth-oriented advisors: “We outgrew the firm.” Their ambition for growth and the obstacles they encountered within the traditional firm model prompted them to seek independence. Cultural shifts at Edward Jones and the limitations imposed by its structure were instrumental in their decision-making process. For Jason and Taylor, breaking away was about removing the “governor on their growth,” allowing them the freedom to innovate and expand as they envisioned.
This podcast episode delves into their due diligence process, highlighting why they ultimately launched their own independent firm. The transition wasn’t just a professional leap but a familial one. On the podcast, Jason and Taylor share how their family reacted to the news, with their grandfather poignantly asking, “What took you so long?” This sentiment represents the readiness and support within the family for this new venture.
Additionally, the launch of Uptick Partners, their companion firm, represents an exciting avenue for other advisors contemplating similar transitions. Through Uptick Partners, Jason and Taylor aim to provide a platform that empowers fellow advisors who are considering breaking away from traditional firms.
The Diamond Podcast episode featuring Jason and Taylor offers valuable insights for growth-minded advisors. It provides a roadmap for those contemplating a shift towards independence, emphasizing the importance of strategic planning and the courage to pursue one’s vision. For senior and next-generation advisors, the episode is a must listen as it provides guidance and inspiration for navigating the complexities of transitioning to an independent advisory model.
For those interested in the back story and wisdom shared by Jason Barber and Taylor Pankratz, listening to their episode on the Diamond Podcast is a worthwhile investment in your own career as a financial advisor, whether you’re seeking independence, growth, or both.