David Miller
Founder & CEO, Alchemy of Scale. On 2 shows, 2 appearances. The Shows tab opens the full record on each.
founderexecutiveauthorinvestorLinkedIn ↗alchemyofscale.com ↗
David Harrison Miller is an entrepreneur and business coach who previously founded and led the wealth management firm PeachCap before launching Alchemy of Scale. He authored the 2016 book Wealth Kryptonite and serves as Chief Strategy Officer at FlowGardens.
2shows
2appearances
18statements
3resolved
1supported
0contradicted
33%fully supported
Everything David Miller said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Miller: SEC used extreme, unethical enforcement tactics mirroring the show 'Billions'
“If you've seen that show billions, that, that New York AG in there, like they, there were some points of really extreme things that the SEC did that I'm not going to disclose. That is very similar to how they operate in billions. And it's quite unethical, but …”
Miller: Financial advisory practices run like fiefdoms due to lacking tech
“The average, Nathan, the average financial advisory practice in the space is a two to ten-man woman shop, and it's run like a fiefdom because of lack of operating systems, like a technology that's changed the environment, and we help, and it's not because of i…”
Miller: Company would have made more money fighting the SEC
“And we would have made a lot more money had I continued fighting, but that risk was out there of, you know, they could impose millions of fines and they could, these legal costs could continue to grow.”
Miller: Robo-advisors will need human advisors when the market turns down
“The strong robos, they embrace the human advisor. They embrace the human element. They realize whenever the market turns, you know, turn south, which we, you know, we haven't had a recession since June of 2009 turn south. It doesn't matter whether you have 10,…”
Miller: Emotionally charged feedback from cynics holds valuable lessons for improvement
“Embracing your cynics out there that are emotionally charging you with feedback is sometimes harder to interpret, but there's a lot of golden And gems and the and the cynics out there that are telling you how, how you failed and how to get better.”
Miller predicts bootstrapping a new business to $10M within five years
“So if I were to start another business, I'd say I could probably do it in well under five, and this is bootstrapping with no funding, of course. It's all organic growth”
A rogue trader cost Miller's firm over $10M, forcing voluntary client repayments
“So that, that ended up costing my firm well over ten million dollars that I was the majority owner of in addition to the millions and millions of dollars that our clients lost and ended up voluntarily repaying back our clients, but that, but yeah, that, that's…”
Miller: Leaders must match the execution pace of their team or fail
“I would say in leading people, You know, whether it's your team, whether it's a client or a customer, then you need to run as fast as they're capable of running. And you need to go at their pace. Because if you don't it doesn't matter if you see the answer, yo…”
Miller: Peach Capital's ARPU is $1,900 per retail client
“Our current average ARPU is, is 1900 for the end client, the end retail client, not the advisor.”
Miller: Peach Capital ARPU will reach ~$5,100 per retail client
“When our service model is, is implemented more efficiently and we bring on more wealth management firms, our ARPU is going to be about 5100 per end retail client.”
Miller: Peach Capital acquired ~10 companies since 2013
“In 2013, to answer your question I started buying companies. We bought approximately 10 companies. Which consisted of a broker, dealer, tax firm investment advisory.”
Miller: Peach Capital will finish the year at $7.5M in revenue
“We were number one 22 on the 5000. How many thousands of percents that was we'll end the year this year in at 7.5 million.”
Miller: The average financial advisor is 61 years old
“The average age of a financial advisor is 61 years old, and 10, even more importantly, 10% of those advisors are under the age of 35.”
Miller scaled an acquired business from $200K to $10M in 2.5 years
“I scaled my second business to ten million plus in approximately two and a half years. You know, they had started with a couple hundred grand in revenue when I acquired it, and totally transformed it, built a leadership team”
Miller: Firm paid millions in legal fees over five years fighting SEC
“We paid a couple million dollars in legal fees over the, over five or so years.”
Miller: Hemp business expanded to 30,000 DTC customers in a couple years
“We expanded it from Having a couple online customers to 30,000 DTC customers and one to two wholesale relationships to over a hundred wholesale relationships in a matter of a couple of years.”
Miller: Banking relationship was abruptly shut down for cannabis business
“Got a banking relationship shut down, just out of the blue, and we had to scramble.”
One line per show, most statements first. The link opens David's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
 WE LIVE TO BUILDLEDGER | Founder & CEO, Alchemy of Scale | 1 | 11 | — | full record on We Live to Build → |
 TOP FOUNDERSLEDGER | Founder & CEO, Alchemy of Scale | 1 | 7 | 33% 1/3 | full record on Top Founders → |