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The Advisor Delta™ is your essential guide to mastering the wealth management industry. Hosted by Worldsource Wealth Management, this podcast delivers expert advice, actionable insights, and innovative strategies to grow and elevate your practice.
Join industry leaders for interviews, thought-provoking roundtables, and quick-fire 'Ask Me Anything' Q&A sessions, as we cover everything from emerging trends to leadership development. The Advisor Delta™ is more than just a podcast—it's a partner in your success. We aim to provide high-value industry insights while building a community of like-minded professionals who can learn from each other’s’ experiences.
Start listening today and unlock the tools, strategies, and inspiration you need to elevate your wealth practice with The Advisor Delta™. For more episodes and insights, don’t forget to subscribe and visit us at www.worldsourcewealth.com. And remember, together, we can take your practice to the NextLevel™.
Narrator: Welcome to The Advisor Delta™, the practice management podcast dedicated to helping investment advisors grow their business and reach their goals. Whether you’re looking to scale your practice, streamline operations, adapt to emerging technology, or deliver value to clients - this is the place for actionable insights, thoughtful leadership and innovative strategies. Brought to you by Worldsource Wealth Management. Let’s dive in!
Ariel:
Hi, everyone. I'm Ariel McGill, Vice President of Practice Management at Worldsource Wealth Management, and welcome back to The Advisor Delta. Today's conversation is about personal and professional growth and what it looks like to develop leadership from within.
It's also about confidence, how it's built over time through trust and opportunity, and how it can change the trajectory for both individuals and firms. Joining me today are Jeff Kechnie, the President and Investment Funds Advisor, and Ann Ball, Wealth Advisor and Financial Planner from Kechnie Investment Services.
Their partnership offers a powerful example of how intentional mentorship and belief in potential can shape the future of a practice. Now, our hope is that this episode invites any listener to look inward and reflect on your own career and readiness for what may come next. Jeff and Ann, thank you both for joining us today.
Jeff:
It's good to be here.
Ann:
We're honored to be here.
Ariel:
Excellent. So let's dive in. Now, I wanna start with a snapshot in time before either of you knew where your partnership would lead to. Now, Jeff, where were you professionally when Ann joined the practice?
Jeff:
I was a mess. No, in all seriousness, we had just gone through a major transition. We were coming out of the banking crisis of 2008 and '09 and ramping up our business. I was already in a firm that had some foundation, as I'm a second-generation advisor, and we, at the time of Ann joining us, had approximately six to eight members of our team. And trying to find a person that meets your culture and standards and ethics and has integrity is really the goal.
And so after many trials before that, came to a spot where we met this young lady who had been in the field. And I recall during the interview that I had with her that she mentioned about integrity being an important element when working for somebody, and I knew right then that she was the one for us.
So having her join us has been a journey. Ups and downs. Learned how each other works, understood each other's strengths and weaknesses. It's been a real journey, but one that, uh, I'm proud of.
Ariel:
Absolutely, and that shows. Now, Ann, turning to you. When you look back at that time of your life, what was going through your mind when it came to your career?
Ann:
I was at a transitional part of my career. I was looking for a company that, like Jeff said, had integrity. I was looking for working with a family business because when you work with families, it's a different feeling than you find. And the other thing that I really liked about where I was looking for at the time is I wanted the independence, right?
And potentially mentorship because I knew what I had, but I knew that I was still looking for something. And then when I met the Kechnies, it just came together.
Ariel:
That's fantastic. You hit on some really important points like mentorship and independence — which obviously are really meaningful for a lot of us in, in this industry and certainly this firm.
Thank you, Ann. Now Jeff, let's turn back to you. And when we t- spoke before, you told me about a decision that you made early in your career that w- sort of went counter to what you'd always been told or what the sort of conventional wisdom in the industry, and you chose not to go the university route because you didn't wanna start your career with a big debt load.
Now if you look back on that time, how did that decision shape how you learned about and navigated the business? That's a loaded question. I'm good at those.
Jeff:
I think for me personally, it was just something where the financial burden of what friends and people I knew were going through was something that was gonna be difficult for me.
Not only that, because I'm second generation, I saw firsthand the impact that my father had on people's lives, and that was appealing. And he had fun in the business. He developed relationships and friendships and all of that. So it wasn't a difficult decision for me, but there were some challenges because there are some things foundationally that I don't have that others have that I had to go through the school of hard knocks with.
And some of those learnings are about yourself, about your management style, and I just didn't have those things, those tools from an educational standpoint.
Ariel:
I understand. So you had to develop them yourself.
Jeff:
Yes.
Ariel:
But you did.
Jeff:
I'd like to think that we've come a long way.
Ariel:
I'd like to think so too. Now Jeff, there came a moment — when you decided that you wanted more support in your practice, and one thing you did was you enlisted a coach. Can you tell us more about this decision to hire a coach?
Jeff:
Yeah. At the time, my father and I had approximately 10 to 12 people. We just partnered with a third partner, and we were having some challenges because we had three masters, and staff were getting pulled in every direction, and we were having some turnover issues in our staff as well, and we just thought that it would be beneficial to have a third party come in and support us.
And we knew these services were available from industry. Like when we go to conferences and educational sessions, they talk about this. And so we hired a personal coach, and that was a real eye-opener and helped us get to the next plateau in our business.
Ariel:
Excellent. Now, did having the experience of working with a coach change the way you lead your own people?
Jeff:
Most definitely.
Ariel:
How so?
Jeff:
Let's just say it makes you look in the mirror. And when you look in the mirror, you have to accept responsibility for where you're at because as a leader, it's your actions or non-actions that influence where you're at. And certainly, one of the exercises the coach took us through was personality profile tests, and they also sat with each one of our staff, and they did their homework.
And let's just say that as a young business owner, leader, I was kind of aggressive. I was lacking empathy. I was a driver-driver, as they say in these personally. I was on the top right or left quartile personality and driven, and that worked well in my younger years as an athlete, but it didn't necessarily work well as an employer.
And so recognition of that was a game changer for me, and it really had a significant impact on our business revenue and growth and staff sustainability until present.
Ariel:
Excellent. Now, I wanna go back to when you first interviewed Ann. Now, when you and I spoke, you'd indicated that Ann, at that time, saw yourself primarily in a support role. Yet somewhere along the way, you, Jeff, saw something more. Was there a specific moment or maybe an action or a conversation or something where you really realized this is the person who I can count on to help lead the practice in the future?
Jeff:
Despite all my shortcomings, this young lady still enjoyed coming in every day and working with our clients and ourselves and putting up with our nuances.
And the other probably more important factor is that all the clients that I spoke to when dealing with them for whatever issue was on the table, they always spoke very highly of her and how they really appreciated having Ann there. And I always knew that I didn't want to be a one-man band. I wanted to have some freedom and flexibility as an advisor to enjoy the fruits of my labor, at the same time operating a successful practice.
And I always felt that if I was my own client, that I would want to work with a firm that had some depth, that had some bench strength. And so Ann clearly demonstrated by her actions and her work that she was competent, capable, she had integrity, empathy, all those things that would benefit our firm.
Ariel:
It sounds like it. And you mentioned off the top of the question, your clients feel that she gives them self-confidence. And ultimately, that's what keeps clients engaged with the practice, is they feel that they're in the hands of somebody who gets them and will help them reach their goals. So that's really powerful, Ann.
I hope that made you feel good. So along the same lines, were there any challenges you faced in mentoring Ann?
Jeff:
Again, another good question —— because you have to be aware of the strength and weaknesses of an individual. So as I became more confident in our relationship, her loyalty, the work she was doing, the positive responses from our clients, I then wanted to invest more time in Ann.
And some of those challenges were helping her with her confidence. This young lady was talented. She was doing a phenomenal job. She has more degrees than I ever will have behind her name, and yet she struggled in some areas. And so it was my goal to lift her up, to push her into areas that she may not have been comfortable with, but also bring accountability to that and help her recognize where some of these strengths and weaknesses could be developed.
I remember one particular instance in a client meeting, and Ann, you'll probably remember this. I got on you for saying what word?
Ann:
Yes.
Jeff:
She would always make a statement and direct a client, and she would say, "Right?" Meaning she's looking for the client approval. And I said to her, "As a leader, as somebody, as an advisor, you don't need your client's affirmation."
So I used to put in a sticky note in a meeting if she was saying it too much when we'd have meetings together to help her build her confidence 'cause she's phenomenal at what she does. So pushing her in terms of her personal growth, but also from a technical standpoint, I encouraged her to be more holistic as she looked at the investment portfolio with respect to a client's debt, tax position, any business entities, any outside influences that would affect their investment decision-making.
And having that information on the client was important because it just wasn't about the security or the transaction. It was about knowing and understanding where the client's at and giving them the advice and leadership that they're looking for.
Ann:
And I'd like to add on too, not only did he encourage me emotionally, but he also had instilled a lot of education.
So because of —
Jeff:
That's right. We did pay for all those courses, right? Yeah, you did. There we go. So maybe go back that —
Ann:
$5 —
Jeff:
— after all.
Ann:
So to be more confident, they paid for my designations. I'd do a course, and they would reward me. It wasn't just a punch in the arm, it was, "Okay, this is what you need. You do it."
Ariel:
Yeah. That's really powerful. So turning to you, Ann, when someone sees potential in you before perhaps you see it in yourself, that can be equal parts empowering and uncomfortable. Now how did Jeff's belief in you influence your confidence, and was there a moment where that belief pushed you out of your comfort zone? Can't wait for this answer.
Ann:
So the best thing about working with a father-son, Jeff and Doug has two different ways of looking at a market. Doug was always a down-up looking, where he's very charting, and then Jeff was very top-down.
He could see downwards. And so they would invite me to different events, or we would have different discussions, and I would hear different thoughts from both of them. You know, they would banter their thoughts, and, uh, I grew from that. I also had Mama Bear Linda. She was amazing. She was our — Director —
Jeff:
— of operations.
Ann:
Yes. And it made me push more, and it made me feel comfortable, and it made me see both sides. And when they sit there and we became to where we needed to go, it gave me the confidence. So it wasn't a confidence that was given to me overnight. And it wasn't a security blanket that I felt immediately.
But as time went, I understood their theories, and I understood their positions, so I was able to build myself based on them.
Ariel:
So two thoughts come to me coming out of that. Number one is — I believe that's the most powerful kind of confidence because it's organic, and it comes from something tangible within you.
The other is I think you should raise your rates with Jeff. And next time — I expect him to pay you —
Jeff:
$10. Easy, easy.
Ariel:
I'm just saying.
Ann:
He gets five bucks.
Ariel:
Okay. And maybe you and I can split the difference.
Ann:
Yeah.
Ariel:
I'm liking this more and more. So Ann, what was it about a support role that felt right to you at that time? And can you point to a moment when you realized that you really had the skill and the confidence that outgrew that initial vision of your place in the practice?
Ann:
I don't think I really outgrew it.
Ariel:
Yeah.
Ann:
I just built on it, right? Because we still don't like Jeff touching paperwork. But we know our strengths and weaknesses, so we complement each other.
Sure. And I think that's the best thing that ever happened to us. I was never trying to be the Jeff, and Jeff was never trying to be the Ann.
Ariel:
Yeah.
Ann:
We were just trying to complement how are we going to make this legacy amazing.
Ariel:
That's really powerful. So today, Ann, you're leading the investment team and playing a key role in shaping the future of the practice, which obviously is a very different type of seat at the table. What has the mindset shift been for you that has allowed you to confidently step into the role?
Ann:
I guess I feel honored, right? Like, this is a family legacy, and to be able to step into big shoes to be filled is quite an honor. So working with the clients, working with Jeff, and just managing the landscape that we do —
— is an honor.
Ariel:
That's beautiful. Now — I didn't pay her to say that. I don't know. I might need to do an audit of the books. Now, as we head into our annual admin conference, which of course is next week, I can't help but think of the many talented administrators who work within our firm who may potentially follow a similar journey to yours. This is a two-part question, and one is going to each of you. So Jeff, what advice would you give leaders on recognizing that kind of potential?
Jeff:
First of all, I think as a leader you have to understand yourself, okay? And what are your strengths and weaknesses, and make sure you communicate that to your team, and I think I've done a good job with doing that with my team, not only Ann, but the others involved. You also have to understand your goal as an advisor and a leader in terms of revenue, in terms of growth.
How big do you want to become? How do you want to live your life? And if you don't understand those, if it's just doing because it's in front of you, then at some point you're gonna get tired and exhausted. And so recognizing those things, and for me, wanting to grow the business, meant that I had to invest in my business.
It meant that I had to give up some money, in essence. That mindset, that paradigm shift that you have to go through in order to bring others on, and then mentor, recognition, create a positive environment, make sure that your team, that personality fits with your team. I always say to people, you can train somebody to do a task or a role, but you can't train somebody to have a personality or character integrity.
Those are within, and when you find that person that has those skill sets, then it's easy to elevate and mentor and push.
Ariel:
Absolutely.
Jeff:
Now Ann, what —
Ariel:
— does it take to be ready to lean into an opportunity like that, that presents itself?
Ann:
I would say passion. You have to be passionate about helping people. You have to be passionate about the industry you're in.
You have to be passionate to work with the advisor, work on each other's strengths, not be afraid to be told, "Well, what about this?" Or, "What about that?" You have to have the need to want to do it, 'cause it's not a 9:00 to 5:00 job. But on the other hand, it's so rewarding.
Ariel:
That was excellent. I definitely appreciate your focus on the growth mindset. We hear that from several advisors who are successful, is how important it is to recognize early on that it takes investing in the growth of your practice by bringing somebody in who can help fuel that — Now, I have to say, throughout this conversation, I've had a song playing in my head that Jeff, you pointed out to me and I didn't know, called One Man Band, and now I absolutely get that.
It completely makes sense, and I'm never gonna listen to any music the same again, and I'll definitely listen to that on my ride home. But I do wanna thank both of you, Jeff and Ann, for joining us today. I think this has been a tremendous conversation.
Jeff:
Thank you, Ariel — and team. I'm — privileged and humbled to be given this opportunity, and if it helps anyone in any way, that's the goal, right? Is to pay it forward, so to speak, because lots of individuals that have gone before me, including my father, have done that for me. So thank you for this opportunity.
I'm — glad that the company invests in this type of thing for — other advisors, so thank you.
Ann:
It has been a pleasure.
Ariel:
So from my perspective, what this conversation has really made clear is that leadership develops over time and is clearly shaped by relationships that challenge us, support us, and help us see what's possible before we sometimes see it ourselves, and that to me is a really powerful takeaway.
Growth rarely comes from a single defining moment. It's built through consistent belief and the confidence to step forward when opportunity presents itself, as you both have exemplified. So on that note, thank you for joining us today on The Advisor Delta. Until next time.
Narrator: Thanks for tuning into The Advisor Delta™! We hope you found today’s episode valuable to supporting your practice. For more episodes and insights, don’t forget to subscribe and visit us at www.worldsourcewealth.com. And remember, together, we can take your practice to the NextLevel™.
The views and opinions expressed in this podcast are those of the participants only. This podcast is for informational purposes only and does not constitute financial, legal, or professional advice. Listeners are encouraged to seek professional guidance for their specific needs. Worldsource Wealth Management does not endorse any products, services, or companies mentioned in this episode.
Worldsource Financial Management Inc. is a mutual fund dealer. Worldsource Wealth Management Inc. is a dual-registered firm, both as a mutual fund dealer and an investment dealer. Both Worldsource Financial Management Inc. and Worldsource Wealth Management Inc. are members of the Canadian Investor Protection Fund (CIPF) and the Canadian Investment Regulatory Organization (CIRO) and subsidiaries of Worldsource Group of Companies Inc., a wholly owned indirect subsidiary of the Fédération des caisses Desjardins du Québec (FCDQ), which is part of the Desjardins Group.