My business is growing, and I am looking for others to join me who want to help people with their financial future. The purpose of this blog is to reach out to my network to see if you or someone you know might be interested in taking a path similar to my own.
Many of you who receive this blog know my story, but for those who don’t here is a brief recap. About a decade ago my wife and I sought out a financial planner and really struggled to find someone who we felt had our best interests at heart and charged a reasonable fee. I realized then that there was a great unmet need and that being a financial planner could be a great second career for me. In 2009 I completed the certified financial planning certificate program at Farleigh Dickenson University while still working in my corporate finance job at Best Buy. In the summer of 2013 my role at Best Buy was eliminated in a corporate reorganization. After some soul searching I decided to make the leap instead of pursuing another corporate job. Taking that leap was scary, but I was intrigued by the idea of becoming an entrepreneur and was convinced that a unique fiduciary-based model that offers financial planning, investment management, tax planning, and tax preparation services for a low flat fee would resonate with clients. It took about six months to get ready, and in March 2014 I launched WJL Financial Advisors.
It took some time and a lot of networking to get the business going, but now, four years later, because of client referrals I am nearing capacity to take on new clients. I am extremely lucky to have had a former colleague of mine (Jim Moore) from my public accounting days join the firm up in Connecticut in September of last year. I am now looking for advisors based in New Jersey and Minnesota, where the bulk of my clients reside.
The financial advisor is not a salaried position. Instead those who join my firm would run their own businesses and could build the business as fast or as slowly as they choose. What I provide are client referrals, the tools needed to run the business, regulatory compliance, and my insight and guidance. A successful advisor would need to be willing to become a Certified Financial Planner as well as obtain a tax designation (CPA or Enrolled Agent) and an insurance license. Starting from scratch it would take about nine months to get up and running.
I have found being a financial advisor very rewarding. I find great satisfaction in helping clients plan out their future, and my clients seem truly appreciative of the support I provide. I also enjoy the freedom of being in control of my schedule. Plus, I can’t say I miss having to sit through any more corporate meetings.
What I have also discovered networking at industry conferences is that this is a career many don’t plan to retire from. They may scale back their client load at some point, but most plan to stay involved in some capacity pretty much forever. They really love what they do.
If doing something like this sounds like it might be intriguing to you or anyone you know please feel free to reach out at 973-216-8748 or bill@wjladvisors.com.