In this episode of the Trusted Adviser Podcast, Rob speaks with Jeff Thurecht, CEO of Evalesco Financial Services, about building a scalable advice business through talent development, technology, and strategic growth. Jeff shares how Evalesco grew into an award-winning firm with nearly 40 team members across Australia and the Philippines, and explains the philosophy behind their “3K30” vision to reach 3,000 ideal clients by 2030.
The conversation explores how Evalesco structures specialist service areas, develops advisers internally rather than hiring them fully formed, and uses offshore support teams to increase efficiency. Jeff also discusses the transition from adviser to CEO, the role of technology in freeing advisers to spend more time with clients, and why strong team culture remains central to the firm’s long-term growth.
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SHOW NOTES
Topics Discussed
- Building a scalable financial advice firm with a strong team culture
- Winning Holistic Advice Firm of the Year and Overall Company of the Year at the IFA Excellence Awards
- Structuring an advice business around specialist service areas such as insurance, lending, and aged care
- Segmenting advisers to serve different client demographics
- Integrating offshore teams into the core business rather than treating them as outsourced support
- The transition from adviser to CEO and the leadership challenges involved
- Developing advisers internally through associate pathways and mentoring
- Using technology to improve efficiency and client experience
- Consolidating CRM systems and improving data quality across the business
- Evalesco’s “3K30” vision to reach 3,000 ideal clients by 2030
- Creating growth opportunities for team members through business expansion
Episode Highlights
(Timestamps are approximate)
- [00:00] – Introduction to Jeff Thurecht and Evalesco
Overview of the firm’s size, team structure, and recent industry recognition. - [02:00] – The Origin of Evalesco
Jeff explains the Latin meaning behind the firm’s name and the founders’ vision to build a scalable business. - [04:00] – Winning the IFA Excellence Awards
Why team recognition mattered more than individual accolades. - [06:30] – Building a Holistic Advice Firm
The role of insurance, lending, and aged care specialists in supporting clients. - [09:30] – Segmenting Clients by Demographic Needs
Serving wealth accumulators, pre-retirees, retirees, and high-net-worth families. - [11:00] – The Principal Edge Merger
How the acquisition expanded the firm’s capabilities and client base. - [13:00] – Building an Offshore Support Team
Integrating Philippines-based team members into the daily operations of the firm. - [17:00] – Transitioning from Adviser to CEO
The personal and operational challenges of stepping away from client work. - [23:00] – Developing Advisers Internally
Why mentoring associate advisers leads to smoother client transitions. - [27:30] – Technology and the Advice Tech Stack
Using FIN365, Xplan, and integrated systems to improve workflows. - [33:40] – Creating a Technology and Advice Delivery Role
The importance of dedicated oversight for systems and processes. - [35:50] – The 3K30 Growth Vision
Evalesco’s plan to reach 3,000 ideal clients by 2030. - [39:40] – Freeing Advisers to Spend More Time with Clients
Why increasing client-facing time is the biggest driver of growth and impact. - [41:30] – The Future of the Advice Profession
Encouraging more professionals to enter financial advice.
Quotes from Jeff Thurecht
“We always set out to build a business that wasn’t just about us.”
“We’ve always tried to avoid having rock stars in the team. It’s a team game.”
“The hardest part of moving into the CEO role was figuring out how to measure progress without a diary full of client meetings.”
“It’s much easier to transition clients when the next adviser has already been on the journey with them.”
“Technology should free advisers up to spend more time in front of clients. That’s where we add the most value.”
“If we want to reach more Australians with good advice, we need to create the capacity for advisers to meet more people.”
“Financial advice is a fantastic profession. If you’re thinking about it, I’d encourage you to pursue it.”
Key Takeaways
- Evalesco has 29 team members in Australia and 9 in the Philippines.
- The company focuses on holistic advice and has a diverse client base.
- Jeff emphasizes the importance of team recognition over individual accolades.
- The firm has segmented advisors to cater to different demographics.
- Acquisition of Principal Edge was a strategic move for growth.
- The offshore team plays a vital role in administration and support.
- COVID helped integrate the offshore team into the company culture.
- Transitioning to CEO was challenging due to loss of client-facing roles.
- Jeff found time management to be a significant adjustment in his new role.
- The company aims to continuously improve and innovate in their services. Getting clearer on important projects is crucial for growth.
- Building a business that isn’t just about the founders is essential.
- Transitioning clients smoothly enhances trust and relationships.
- Investing in team development leads to better client outcomes.
- Technology should support, not replace, effective processes.
- A strategic vision helps guide business growth and team opportunities.
- Mentoring young advisors is key to their success.
- Embracing technology can free up advisors to focus on clients.
- Setting ambitious goals can drive motivation and growth.
- Encouraging more people to enter the financial advice profession is vital.
Resources & Links
- The Trusted Adviser: https://thetrustedadviser.com.au/
- Evalesco Financial Services: https://evalesco.com.au/
- Connect with Rob Pyne on LinkedIn
- Connect with Jeff Thurecht on LinkedIn
- Follow The Trusted Adviser Podcast
Show notes and transcript
For the full show notes and transcript from this episode, head to the episode page on The Trusted Adviser Website here.