The Keys to Developing and Delivering Your Firm's Frameworks

Charlie Harrison on the Pod, Forging the Future Miami, Nebraska Volleyball and more.

Hello, long weekend! 👋

This week’s Connected comes to you in the aftermath of Hurricane Idalia. My neighbors have been sharing lots of Ring camera footage of flying outdoor furniture and photos of their trampolines in ponds.

Here’s hoping you and yours are dry, safe, and planning for a great holiday weekend, especially to everyone in Florida, Georgia and the Carolinas.

Before we sign off for the long weekend, I want to share some of my thoughts in this week’s Connected:

  1. The Keys to Developing and Delivering Your Firm's Framework

  2. How an Intentional Real Estate and Networking Strategy Can Ignite Your RIA’s Growth - Charlie Harrison 🎧

  3. You’re Invited: Forging the Future - Miami, FL 📍

  4. Why There is No Place Like Nebraska

  5. Mammoth’s Alternative Universe Newsletter

Let’s get into it.

The Keys to Developing and Delivering Your Firm's Frameworks

This week, amidst the cobblestone streets of Charleston, I had the privilege to engage in some very solid conversations with leaders of fast growing wealth management firms.

We talked about dreams, ambitions, and ultimately zeroed in on something that often doesn't get the attention it deserves: Frameworks.

The Guiding Force: Frameworks

Generally, a framework is a structured set of tools, libraries, and thought conventions that provide a foundation for other work. Your framework is your pre-designed solution to the common problems of your industry. It allows you to streamline and scale your work by providing a structured way to build and organize your service offering.

Frameworks have been instrumental in shaping the way I think, teach, and drive success. In essence, they have become my north star, guiding teams and ensuring that our client service becomes exceptional. It centralizes our efforts, gives direction, and simplifies what could otherwise be complex processes.

Charlie Munger once said, "Developing the habit of mastering the multiple models which underlie reality is the best thing you can do."

I couldn't agree more.

In fact, I'd take it one step further: Developing multiple models that underlie your firm's reality is not just a good practice; it's essential for survival and growth.

The Differentiator: Framework Commitment

What separates top-performing firms from the rest? It's what I like to call "Framework Commitment"—the extent to which your firm is ingrained in, and operates on, a well-defined framework. It's not just having a framework but committing to it that counts.

Components and Subcomponents

Your firm's framework isn't monolithic. It's a dynamic set of interconnected sub-frameworks that span across Operations, Marketing, Sales, and more. Dive deeper, and you'll find frameworks within frameworks—whether it's Trading Operations, Billing, Reporting, or Financial Planning, each has its own set of rules, procedures, and best practices.

Variable Adoption: The Silent Killer

One of the biggest challenges facing firms today is variable adoption of these frameworks across the organization. If departments or team members are not on the same page the inconsistency can wreak havoc on efficiency and client satisfaction.

Three Keys to Your Framework Success

  1. Centralize and Document: The first step to framework commitment is to document your existing processes. Outline the life cycle of a client and identify which frameworks are in use at each stage. Put all of this information in a centralized location that is easily accessible by your team.

  2. Operate and Analyze: Once documented, put your frameworks into action and closely monitor their effectiveness. Collect data on things like client onboarding time, number of emails sent, and team interactions. Use this data to refine and optimize your frameworks.

  3. Open Source and Review: Share these frameworks with your entire organization and set up a system for regular review and feedback. This iterative process not only helps in fine-tuning your frameworks but also ensures that they are universally adopted across your firm.

Final Thoughts

Frameworks are more than just a tool; they are a way of life for successful firms. They encapsulate the wisdom and experience of your entire team, distilled into actionable steps. It's a roadmap to excellence and a guardrail against the chaos that can easily derail firms that lack direction.

Does your firm have clearly defined frameworks? If so, how committed are you and your team to them? Your answer could very well be the key to your next level of success.

On the Pod

How an Intentional Real Estate and Networking Strategy Can Ignite Your RIA’s Growth with Charlie Harrison

In this week’s Milemarker's Connected Podcast episode, Kyle talks with Charlie Harrison, Senior Vice President at Capital Real Estate Group. They talk about building rapport with clients, growing a real estate business, and the return to the office.

"People inherently want to talk about what they do and what matters most to them. And if you can find basic ways to get in front of folks and pique their interest, they'll gladly talk to you about what they've done, what they're doing, and what they plan to do."

- Charlie Harrison, Senior Vice President at Capital Real Estate Group

The episode is available now on your favorite podcast platform. While there, please don’t forget to Download, Like, and Subscribe.

You’re Invited: Forging the Future of Wealth Management, Miami, FL

Our Forging the Future of Wealth Management event at Bold Monk was so much fun, we decided to do it again.

This time, we’ll be hosting our in-person event in Miami, FL in partnership with Allianz. The event is designed specifically for RIAs, where we will walk through unlocking tangible success for your clients, business and professional journey.

This is another great opportunity to connect with like-minded advisors and industry leaders. Tim Maurer and I will be talking about how advisors can keep up with the increasing rate of change in our industry.

Event Details

When: October, 4, 2023 at 4:00pm EST

Where: TBD in Miami, FL

We would love for you to join us. Save your seat here.

Milemarker on the Road

Catch our team on the road at the following events or cities:

  1. Future Proof - September 11-13, Huntington Beach, CA

  2. XYPN Live - September 18-19, Atlanta, GA

  3. Fearless Investing Conference - October 3-5, Miami, FL

Mammoth’s Alternative Universe

Looking for something else to read? Subscribe to Mammoth’s Alternative Universe Newsletter.

Alternative UniverseThe newsletter for Fund Managers, Financial Advisors and Founders who want to enhance investor experience through collaboration and tech.

Nebraska Beats the World Record for Women’s Sporting Events

In a proud moment as a life long Cornhusker, the Nebraksa women’s volleyball hosted the single largest women’s sporting event in history this past Wendesday with 92,003 people in attendance.

Here’s to watching that record continue to change.

Go Big Red.


Let the long weekend begin!

Written by Jud Mackrill

Edited by Amy Simpson and Kim Mackrill