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Strong, enduring relationships with families are built on consistency, stability, and trust. At Crescent Grove Advisors, we believe those qualities should also be at the center of how our advisors are supported as well. As CFO Nick Kochanski explained to Steve Garmhausen for Barron's Advisor, prioritizing stability over short-term growth creates deeper connections and better outcomes for families.
Nick Kochanski, CFA
Founder, Managing Director, CFO
"It doesn’t feel to me, especially of late, that many firms in the industry are prioritizing consistency and stability for relationships with client families. One reason is that it feels like firms can get distracted. Another is that there seems to be somewhat of a misalignment in compensation plans within firms. And the third reason is that there’s always a backdrop of misaligned financial incentives. These factors lead to a disruption in client experience and inhibit providing a deep connection between advisor and family. Families feel lost, maybe a little bit neglected; maybe response times on emails and follow-up tasks aren’t as quick as they used to be.
I think there’s a little bit of a lax attitude about what M&A activity can do to a family’s relationship with an advisor. Even going through the process of looking into M&A activities can change the culture of a firm. And I believe strongly that there’s a misalignment in compensation plans for advisors.
We’ve always been a little different in that we don’t compensate advisors as heavily for bringing in new business. We believe that advisors should be compensated just the same if they’re doing a great job with existing clients."
Read the full article from Barron's Advisor: Link
Barron's: CGA's Kochanski Shares How to Improve the Wealth Industry
Aug 29, 2025 | Newsroom
Nick Kochanski, CFA
Founder, Managing Director, CFO
"It doesn’t feel to me, especially of late, that many firms in the industry are prioritizing consistency and stability for relationships with client families. One reason is that it feels like firms can get distracted. Another is that there seems to be somewhat of a misalignment in compensation plans within firms. And the third reason is that there’s always a backdrop of misaligned financial incentives. These factors lead to a disruption in client experience and inhibit providing a deep connection between advisor and family. Families feel lost, maybe a little bit neglected; maybe response times on emails and follow-up tasks aren’t as quick as they used to be.
I think there’s a little bit of a lax attitude about what M&A activity can do to a family’s relationship with an advisor. Even going through the process of looking into M&A activities can change the culture of a firm. And I believe strongly that there’s a misalignment in compensation plans for advisors.
We’ve always been a little different in that we don’t compensate advisors as heavily for bringing in new business. We believe that advisors should be compensated just the same if they’re doing a great job with existing clients."
Read the full article from Barron's Advisor: Link