Don’t Mistake Activity for Achievement with Nate Lenz, Concurrent
Summary:
What does it take to build a platform that attracts entrepreneurial advisors while simultaneously making strategic acquisitions that most firms wouldn’t even consider?
In this episode, host Kelly Waltrich sits down with Nate Lenz, CEO and Co-Founder of Concurrent, to discuss scaling with purpose, avoiding the trap of busyness, and why the best growth strategies often come from solving problems you see right in front of you.
Nate shares Concurrent’s unconventional path, from launching a minority equity investment program to acquiring a $10B retirement plan consulting business to targeting platform consolidation as their next major play. He reveals how his college football days shaped his leadership philosophy, why he’d rather his team work five productive hours than 80 busy ones, and how “speaking things into fruition” has become a secret weapon for execution.
Kelly and Nate cover:
00:01 – The non-linear reality of entrepreneurship and Concurrent’s recent momentum
01:47 – What makes Concurrent different
03:30 – Advisor centricity and celebrating independence in a consolidating industry
07:19 – Why the pendulum swung: aging demographics, mainstream PE, and strategic FOMO
09:12 – How discipline and growth-mode bias protect returns
11:30 – The strategic logic behind acquiring Next Retirement Solutions
14:23 – Why more firms should pursue creative acquisitions beyond traditional AUM roll-ups
15:41 – The next play: targeting RIAs supporting 10-50 advisors who need scale to survive
16:02 – How to identify firms in true growth mode beyond just looking at financials
18:33 – What drives real organic growth: niche focus, not “anyone with $2M in assets”
20:40 – The importance of creating content that showcases who you really serve
22:13 – Nate’s “Don’t Do That”: never mistake activity for achievement (wisdom from his college football coach and John Wooden)
24:06 – Building a culture that rejects the “cult of busy” and focuses on outcomes
25:35 – The quarterly exercise: what’s the one thing that moves the needle for your team and the firm?
26:30 – Don’t let perfect get in the way of good: launching Wealth Select and iterating based on advisor feedback
28:32 – Speaking solutions into existence: how socializing ideas with advisors drives innovation
31:09 – The framework for launching imperfect solutions: understand the core problem, incorporate authorship from end users, iterate forward
36:48 – Kelly’s reminder: write down what you’re working towards and look at it every day
37:02 – Nate’s office philosophy: “No window is safe” when you need a whiteboard
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About Our Guest:
Nate Lenz
CEO & Co-Founder, Concurrent
Nate Lenz is the Co-Founder and CEO of Concurrent, bringing nearly 2 decades of experience in financial services and a singular focus on empowering advisors to have a meaningful impact on those they serve. Prior to launching Concurrent, Nate was the co-founder and managing partner of I&A Consulting, a boutique consultancy focused on M&A and Practice Management. The launch of I&A followed a 6-year stint at Raymond James Financial Services where he was the Vice President of Succession Planning & Acquisitions, supporting the 4,000+ independent financial advisors affiliated with RJ in both the independent broker/dealer and RIA custodian channels. His previous work shaped the vision for Concurrent, recognizing an opportunity to serve advisors in all phases of their business lifecycle.
Nate graduated with his bachelor’s degree in economics from Columbia University and was recognized as a 2022 Investment News 40 under 40 honoree. Outside of work, Nate enjoys coaching his son, Matthew’s little league baseball and flag football teams, boating with his wife, Liz, and having tea parties with his daughters, Lucy and Amelia.