In this episode of the Trusted Adviser Podcast, Rob sits down with Alexander (Xan) Kitchin Founder of Wealth Connexion and 2025 IFA Excellence Awards winner for both Individual Excellence and Practice Principal of the Year, about building an enterprise advice business that scales with integrity. They explore the distinction between being a capable adviser and being an effective business owner, the discipline required to move from a cooperative mindset to an enterprise model, and why trust, accountability, and team structure sit at the core of sustainable growth. The conversation also examines the evolving role of AI in advice and how technology should deepen engagement rather than dilute relationships.
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SHOW NOTES
Topics Discussed
- The difference between advisory capability and business leadership.
- Moving from a cooperative mindset to an enterprise model.
- Building scalable foundations in advice businesses.
- Why team structure outperforms individual effort.
- Client ownership at the enterprise level rather than the adviser level.
- The limits of scalability in trust and accountability.
- The structural link between service, pricing, and capacity.
- Professional advice versus product distribution.
- Strategic adoption of AI in financial advice.
- Using technology to deepen client engagement rather than increase volume.
Episode Highlights
(Timestamps are approximate)
- [00:00] – Introduction to Xan and Wealth Connexion.
- [04:10] – Adviser Skill Versus Business Leadership
- [08:35] – From Cooperative to Enterprise
- [13:50] – Building on a Solid Foundation
- [19:20] – Enterprise Client Ownership
- [24:45] – Team Over Individual
- [30:05] – Scaling Limits
- [35:40] – Linking Service, Pricing, and Capacity
- [41:10] – Professional Advice Versus Selling
- [46:20] – AI in Advice: How AI is transforming workflow, compliance, and engagement.
- [52:15] – Using AI to Deepen Client Relationships
- [56:30] – Final Reflections: The future of enterprise advice and sustainable growth.
Quotes from Xan Kitchin
- “Being a good adviser doesn’t make you a good business person.”
- “We needed to embody an enterprise view. Not a cooperative view.”
- “If you want to scale, you have to build on a foundation that is solid and clear.”
- “Team will trump the individual effort every time.”
- “The client is a client of Wealth Connexion. Not the adviser.”
- “You can scale transactions. You cannot scale trust.”
- “You can’t scale accountability either.”
- “Client service, pricing, and capacity are inextricably linked.”
- “We’re not in the business of selling. We’re in the business of providing professional advice.”
- “AI will transform advice. But we’re not using it to add more clients. We’re using it to deepen engagement.”
Key Takeaways
- A corporate mindset can bring rigor and efficiency to financial advice.
- Enterprise thinking beats cooperative thinking.
- Structured processes and systems are essential for scaling a practice.
- A team-based culture and ‘we over me’ philosophy drive success.
- Succession must be intentional.
- Data-driven decision-making improves transparency and performance.
- AI supports efficiency but cannot replace relationships.
Resources & Links
- The Trusted Adviser: https://thetrustedadviser.com.au/
- Wealth Connexion: https://wealthconnexion.com.au/
- Connect with Rob Pyne on LinkedIn
- Connect with Alexander (Xan) Kitchin 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.