Trending
In the past 18 months, Rick Rubin has gained a new level of visibility. From a nine-time Grammy award-winning producer to becoming a truly creative author and podcast guest, Rubin is sharing his ideas more and more widely.
Rubin’s impact on music is monumental. Here are just a few iconic albums he’s produced:
1. Beastie Boys - Licensed to Ill (1986)
2. Run-D.M.C. - Raising Hell (1986)
3. Slayer - Reign in Blood (1986)
4. Red Hot Chili Peppers - Blood Sugar Sex Magik (1991)
5. Johnny Cash - American Recordings (1994)
6. Tom Petty - Wildflowers (1994)
7. Jay-Z - The Black Album (2003)
8. Metallica - Death Magnetic (2008)
9. Adele - 21 (2011)
10. Eminem - The Marshall Mathers LP 2 (2013)
11. Red Hot Chili Peppers - Stadium Arcadium (2006)
Rubin’s creative process is deeply right-brained—intuitive, instinctive, and unapologetically personal. He creates for himself, driven by the pursuit of something new and transformational. This resonates with me - while at the same time causing me question its relevence in long-term reality.
I see this same mindset in business leaders who take big risks and start from zero. They build because they want to, not because of a guaranteed outcome. They’re driven by the desire to create, regardless of initial success.
But there’s a difference between creating music for yourself and building a wealth management firm for others. We’re not producing records—we’re guiding wealth for millions of families and organizations.
The Current State of Wealth Management
I’m just leaving a conference dominated by capital-infused RIAs and aggregators focused on scale, value, and growth. These firms are building for someone else—their investors.
Many of them started as unique entities with distinct identities—like Mercer Advisors focusing on dentists or Pure Financial mastering education. Those original distinctions helped them succeed. But as they grow and evolve, they risk losing that identity.
The Magic Is in the Tension
The secret to long-term success? Keep the magic alive by keeping the magicians—the people who carried the vision and put in the work.
As firms transition to second-generation leadership, there’s a risk of losing the spirit that made them successful. Rather than clinging to the past, successful firms are making room for new cultures and fresh ideas.
To thrive in 2025 and beyond, wealth management firms need a truly independent attitude, brand, and spirit—combined with the support system necessary for professional success. Balancing these elements creates a productive tension that drives growth.
Are You Embracing the Tension?
Here’s how to know if your firm is on the right track:
- You have healthy tension. You respect your origins but stay focused on the future. Your team doesn’t try to resurrect the past daily.
- Your team fights for improvement. Yes-people won’t move the needle—great teams challenge each other to build better outcomes, processes, and experiences.
- You embrace individuality. You help key contributors find their place within the team and do so in a way that the team and the product you put on the field are first and foremost. Systems like Traction can help guide this dynamic.
Where does your firm stand? Are you embracing the tension and pushing toward the next stage of growth?
Related: The Tailgate Advantage: Why the Pre-Game Sets the Stage for Victory