Simple business solutions, so you can focus on growth.

“As wealth advisors, our primary duty is to help our clients achieve their financial objectives’”and most of our time is spent accomplishing that. But we must never be so busy working in our business that we neglect working on our business.”

Dan Nolan

‘¦ That’s where I come in. I’m Lorraine Nolan, President and Lead Consultant at Maven Alliance, and I can’t wait to help you identify, propel, and achieve your goals at every stage of your advisory business.

My extensive background in banking and financial advisory consulting spans over 35 years, which includes being a critical part of building the operational structure of a very successful wealth management business with my husband. This valuable experience laid a strong foundation and prepared me for my future roles in the industry.

I worked as Assistant and the office manager, building a structure of simple processes that strove for efficiency in all tasks, improved accuracy, and reduced errors. The result was an administrative system that could be utilized in future to train new assistants, and guarantee consistency of service for all clients.

My husband and I were approached with an opportunity to purchase an advisory business after the sudden passing of the Advisor. Despite its location being three hours away, we took on the challenge, successfully completing the acquisition and seamlessly transitioning the clients to our business. This experience allowed me to develop a streamlined process, ensuring efficient and successful outcomes for future clients.

During this time, I discovered a natural aptitude and passion for the intricacies of the advisory business, and developed a professional approach focused on the importance of building strong relationships with the clients, which led to a very high retention rate.

A couple of years later, we embarked on another significant acquisition, this time involving a large advisory business in a different city. This brought along a team of eleven staff members who needed to be smoothly integrated into our operations. It was a unique experience as I had to learn how to manage a large team virtually ‘”well before the pandemic made remote work the norm!

Embracing this challenge, I worked to foster a cohesive team culture from a distance and implement necessary changes to their technology infrastructure, including system integration. Another pivotal aspect of this process was education; leading and empowering the staff to effectively utilize the new systems and tools.

Over the years I’ve learned so much about advisors and people in general. Often our greatest challenges have little to do with our skills and experience, and more to do with our ability to develop flexibility, communicate effectively and embrace change. This is the part of the job I most enjoy getting my teeth into!

It’s important to understand that everybody has different comfort levels when it comes to technology and change’”and I enjoy providing the support and strategies people need when expanding out of their comfort zones.

I developed extensive experience and knowledge related to growing and managing the operations of advisor offices, including acquisitions and advisor transitions to retirement. As a leader I focused on planning, strategy, and communication. I worked closely with IIROC, MFDA and Insurance advisors and compliancy bodies (IROC, MFDA and Insurance) to build strong relationships that served business goals.

After this role I transitioned to the role of Regional Director with a large dealership. I managed the operations of regional branches across Ontario; as a team leader and coach.  It was my responsibility to ensure all advisors and their teams had everything they needed to apply the strategies and drive their results.

This breadth and depth of experience in the financial industry both equipped and inspired me to take the next step in my journey’”to do more with independent advisors. I wanted to work directly with individual advisors, find out what their unique needs and goals were, and use my experience to provide the support, strategies and processes to help them build their business. My experience had served me well’”now I wanted to use it to serve others. 

I established Maven Alliance to Partner in Growth with independent financial advisors; providing operational solutions to optimize revenue streams, increase profitability, and streamline processes.

When working with new advisors, my objective is to assist them in establishing a strong foundation for their business. This involves collaborating with them right from the beginning, guiding them through the process of setting up their entire business infrastructure, including technology, vendors, and the efficient transition of clients and business after a new purchase. The goal is to ensure successful client retention and satisfaction.

I also work with existing advisors, carefully assessing their current operations and collaborating with their support staff to identify specific areas for improvement in their business.

Furthermore, I provide guidance to retiring advisors, aiding them in finding suitable buyers for their business. Ideally, I begin consulting with them five years prior to their retirement to ensure that they maximize the value of their business leading up to its valuation and eventual sale. Our focus is on increasing revenue and monetizing overall business operations, strengthening the structure and maximising the value of the consultancy for sale. I also prioritize strong client-advisor relationships throughout the transition, ensuring that clients feel informed, secure and comfortable within the new ownership.

“I love working with advisors to clarify their business goals and streamline their processes, giving them back the time and energy to focus on their clients.”