Spuds Powell is worth listening to. The Kayne Anderson Rudnick managing director is ranked No. 3 in Barron's 2026 Top 100 Independent Advisors list, maintaining a Top 10 position in the ranking for 14 consecutive years. Inducted into the Barron's Hall of Fame in 2022, Powell also serves on the firm's Wealth Advisory Investment Committee and previously held roles at Financial Engines and Franklin Templeton.

Earlier this year, Powell contributed a well-received guest column for Barron's Advisor, headlined What Clients Have Taught Me: 6 Reflections From a Career in Wealth Management. "After more than three decades advising individuals and families, I've come to believe that wealth management is equal parts technical skill and human connection," he writes. "But the deepest lessons-the ones that have shaped me as an advisor and as a person-have come from the relationships I have built along the way."

Powell joined Barron's Advisor's The Way Forward podcast, where he drills deeper into each of the six points, sharing common sense, counterintuitive advice, and colorful anecdotes, with the throughline being that "connection is the real currency."

In his article, Powell explains why constructive criticism can be "a gift." On the podcast, he elaborates, saying "there will be many times where clients express dissatisfaction or constructive criticism or suggestions for improvement, and it's important at those times to be on receive mode, as my dad used to say, and to be open-minded to their feedback rather than being defensive and trying to push back...I could think of two clients in particular that over the years have been very demanding. They've had extremely high expectations for me personally as their wealth advisor for our firm, but they've always had very reasonable requests. And thanks to them, I personally have become a much better wealth advisor."

Powell also writes that trust isn't only established during major life events. "Lighthearted moments build relationships," too. On the podcast, he recounts with a natural storyteller's flair a tale about a client who was clearly comfortable working with him and committed to the relationship. "One longtime client couple staged a prank on me when we met at a diner, conspiring with our waitress to have her pretend to recognize me from my college football days. I believed every word until they couldn't keep straight faces any longer."

Read all of Powell's lessons here and listen to the podcast (and read the transcript) here.