With 2009 behind us and a New Year and decade ahead, I’d like to take a moment to reflect back on the last few years to say “thank you” to some special people.
In my younger days, I thought my success or failure would depend solely on my effort or lack thereof. I reasoned that if I worked hard and learned everything I could that would be enough. Sure, those things are important. They are in fact, vitally important. But to be successful, I believe you must have the help of others.
When I ventured out on my own in April 2007, I had plenty of help. A local attorney sent me a few referrals, as did an accountant. Then there are the referrals from satisfied clients. People like to help other people and it’s especially rewarding to know that they respect your work and you as a person.
Again, to be successful, you must have the help of others and it is in this spirit that I’d like to say “thank you” to a few people to whom I owe a debt of gratitude. I should mention that this list is not in order of importance nor is it entirely complete as there are others I could include. Here’s the list:
My wife Kitty: Her love and support was instrumental in my decision to leave the corporate world and become an independent advisor. Even when I waivered she held steadfast in her belief in me. I am so glad I listened.
Jamie Green and Investment Advisor Magazine: Jamie afforded me the opportunity to do something I truly love to do; write. I am excited about the future.
Readers of IA: Without whom I would not be writing, thank you!
Matt Schifrin and Forbes.com: Thanks for the opportunity to write for you as well.
The Greater Baton Rouge Business Report (local publication): Thanks for knocking on my door and quoting me in your publication!
My Clients: Thanks for the trust and confidence you have placed in me. I do not take this lightly.
TradePMR: Thanks for a great platform on which to operate my business. I’m looking forward to many years together.
My Fellow Advisors: It is the collective thoughts and ideas of all of you which make our business great. Keep on doing what’s best for the client!
God: Thank you for leading me down this path. It’s been a great adventure!
To everyone else: Have a great 2010!
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Hello Mike,
I am truly enjoying your journey as an Independent Advisor. I am sitting on the sidelines watching you enjoy the freedom of being your own boss.
I anxiously await the opportunity to join you as an Independent Advisor as well. With the New Year (decade) ahead, I am more committed than ever to move forward with my dream. Financially, how were you able to hang your shingle and jump out there? With a mortgage, wife and toddler, I feel stuck in corporate america and feeling miserable.
Also, I have been investigating Broker/Dealers to work with. You stated that you use Trade PMR. Do you have any info on Scott Trade? Thank you for your guidance.
Jag
Hi Jag,
I can appreciate your situation. I would suggest that you accumulate a small nest egg. The amount will depend on how you start your business. I started in my home. The fact that your office may be in a bedroom doesn’t diminish your ability to provide quality advice. I bought a desk, file cabinet, printers, laptop and some supplies and other than costs associated with registering as an RIA and filing my LLC, it didn’t take that much. Next, it’s a good idea to “line up” a few clients to get you started. Obviously there are a lot of issues to consider before taking the leap. What services will you offer? How are you different from the rest? What is your pricing? Etc.. Finally, if you can get the cooperation of an attorney, CPA, or other persons who would be willing to send you some business, that would be good. You’ll find that after working with clients for some period of time, they will start referring others to you which diversifies your referral sources from just attorneys, etc.
Good luck and I wish you well!