Bob Garretson, Embark Financial Partners

Bob Garretson is CEO of Embark Financial Partners, a financial firm in Muskegon, Michigan. The team at Embark Financial Partners deploys an ensemble approach to helping clients. Each client gets the benefit of expertise from every member of the team to encompass financial planning to insurance to wealth advisory services. Bob subscribed to CFO Solutions shortly after coming on board to LPL.

Facing expansion challenges

Bob and his team had gone through a significant expansion, going from one practice to three locations. He needed someone he could partner with on financial fundamentals.  Someone who really understood not only tripling his team size, but also moving to LPL, and the new reality of managing a now multi-site practice with six financial advisors and six assistants.

Bob also had additional acquisition opportunities in progress but needed support with honing in on what the hard limits on his offer were and what requirements he needed to be able to purchase the practice of a retiring advisor.

To top it off, he was at the same time changing over all of his accounting to a larger certified public accountant group and was questioning what kind of metrics he should be measuring to ensure he was meeting his goals and objectives.

Turning to CFO Solutions

CFO Solutions deployed budget and strategy professionals to consult with Bob and his team. They identified revenue and expense measures, as well as business metrics, compensation pieces and equity ownership.

These metrics helped identify areas for growth and expansion, as well as measured daily success. Bob explains, “I was able to delegate and have a group of professionals answer our financial questions and practice questions. We really have a partner that's able to do a ton of the work that would distract us from our day-to-day business.”

“I now have a dedicated CFO backed by a support team at my disposal, helping me navigate both from a business standpoint and from a growth standpoint.

Going into growth mode

CFO Solutions enabled Bob to buy the book of business from the retiring advisor. He now has a complete set of growth metrics at his disposal that are locally benchmarked, and a team of professionals to help him navigate growth. All while taking care of both his team and his clients.

In Bob’s words: “I would say is if you even think you might want to engage CFO Solutions go ahead and do it, because you're probably a little behind already.”


The views and opinions expressed by the LPL Financial Advisor may not be representative of the views of other Financial Advisors and are not indicative of future performance or success. Neither LPL Financial nor the LPL Financial Advisor can be held responsible for any direct or incidental loss incurred by applying any of the information offered. Embark Financial Partners and LPL Financial are separate entities.

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