The Awkward Middle of Building a Wealth Practice

Amar Pandit , CFA , CFP

Amar Pandit

A respected entrepreneur with 25+ years of Experience, Amar Pandit is the Founder of several companies that are making a Happy difference in the lives of people. He is currently the Founder of Happyness Factory, a world-class online investment & goal-based financial planning platform through which he aims to help every Indian family save and invest wisely. He is very passionate about spreading financial literacy and is the author of 4 bestselling books (+ 2 more to release in 2020), 8 Sketch Books, Board Game and 700 + columns.

 

Change in a wealth practice rarely looks neat.

It often feels like two steps forward and one step backward.

You hire someone promising, but productivity dips before it rises.
You invest in process, and for a while, everything feels slower, not faster.

You collaborate with a platform to build scale, but integration feels harder before it feels helpful.

Many MFDs misread this phase.

They assume something is wrong.
They assume the change is not working.
They assume they should go back to what felt comfortable.

That is the mistake.

Progress in a real business is not linear.

It is lumpy.
It is uncomfortable.
It tests your patience before it rewards your conviction.

When you move from a founder-dependent practice to a team-driven one, things will wobble.
When you raise your standards for clients, some relationships will fall away.
When you redesign client experience, execution will feel messy before it feels magical.

This does not mean you are failing.
It means you are building something real.

Most average practices stay average because they mistake temporary discomfort for permanent damage.

World-class practices push through because they understand one simple truth.

Backward moments are often part of forward motion.

If you zoom out, the direction matters more than the daily movement.
If your decisions are aligned with long-term quality, better clients, stronger systems, and a healthier life, then short-term friction is the price of progress.

Ask yourself better questions.

Is this change aligned with the kind of practice I want five years from now?
Is this discomfort coming from growth or from avoidance?
Am I optimizing for ease today or strength tomorrow?

Excellence is built by people who can tolerate the awkward middle.

The phase where nothing feels settled, but everything is being reshaped.

Two steps forward and one step backward is still progress.
Only if you keep walking.