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| Name | A Bank Advisor’s Breakaway Success Story: From $180mm to $600mm+ |
| Video Uploader | Video From Diamond Consultants - Financial Advisor Recruiters |
| Upload Date | This Video Uploaded At 24-08-2023 10:46:21 |
| Video Discription | A conversation with Evan Mayer – Founder and CEO of Fortuna Wealth Evan Mayer started in the bank channel and, over time, came to the realization that he could do more to support his clients and grow the business in the independent model. Evan proved that by growing more than 3x in just 4 years. Listen in… Download a transcript of this episode… NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. About this episode… Every advisor has a turning point in their career. It can be a passive event, such as when they are presented with an option and need to determine which path to take. Or a more proactive one, such as seeing the proverbial handwriting on the wall and realizing it’s a sign that they may need to make a change. For Evan Mayer , there were several such moments. And as he shares, “All things happen for a reason.” He started in the bank channel, intending to transition to a financial advisor role someday. Yet time passed, and he was offered the option of becoming a bank manager for Bank of America. So he had a decision to make: Stay the course or take the path. Yet as fate would have it, an advisor position became available, and he stayed with the bank, BankAtlantic, until the next juncture. That came in 2012 when Evan transitioned to SunTrust, which became Truist after a merger with BB&T in 2019, one of the biggest bank acquisitions of its time. “That was a lightbulb moment,” Evan said. Driven to do more for his clients but limited by the bank model, Evan wanted to be able to share educational information and market to clients and prospects freely. Taking a proactive stance, he explored his options. Evan decided to launch Fortuna Wealth in Boca Raton, FL with Raymond James, and he hasn’t looked back since—perhaps only to recognize he’s grown his business from $180mm in assets under management in 2019 to over $600mm today as an independent firm. Evan shares his incredible journey with Louis, including: • The key differences between working in a bank channel and being an independent advisor—and how the different features of each influenced his business. • The secrets behind his extraordinary growth—and what he could do in independence that he could not in the bank channel. • The process of transitioning from a bank model to an independent practice at Raymond James—and what impact he saw on portability. • The ability to market creatively—and how having a popular podcast drives his bottom line. • Life as a CEO—and how it differs from being an employee. Many advisors get their start in the bank channel and find a pathway to growth. But for some, the model becomes too limiting. For Evan, it was a realization that changed his business life: He was missing out on the things he could do for his clients and the business. But by making a change, Evan could do everything he wanted and then some. It’s an episode that reminds us to be aware of the messages around us—they often hold the key to finding our best business lives. Related Resources A Culture of Choice: Why Raymond James Rocks the Regional Space and Advisor Recruiting Advisors’ desire for greater agency in serving clients and growing their businesses is driving growth toward regional firms like Raymond James & Associates. Tash Elwyn, President and CEO, discusses how choice is the foundation of the firm’s culture.Listen- The Banking Crisis: Its Impact on Advisor Movement and the Wealth Management Landscape—A Special Industry Update Mindy Diamond and Louis Diamond share perspectives from their unique vantage point on the impact of the banking crisis on advisor movement, their clients, and the wealth management industry at large.Listen- Private Bankers Considering Change: What You Need to Know There’s been an interesting shift in movement amongst one sector of wealth management: private bankers.Read- Mind the Pendulum: What the Bank Crisis is Teaching Us About the Industry Landscape The natural order is being tested in the wealth management industry. And it will be some time before we see who the real winners and losers are. Read- Bank Advisors: Are you willing to take a step backward to make a big leap forward? While the bank channel offers a great way to start a career, there are some real limitations when it comes to who “owns” the clients.Read- Evan Mayer CEO As the founder and CEO of Fortuna Wealth and a financial advisor with Raymond James, Evan applies his 20-plus years of industry experience to provide his clients with customized, holistic financial planning geared toward their unique lives and goals. Evan focuses on guiding clients through all of life’s phases, from implementing investment strategies designed to address their long-te _48f5Ug9o2s |
| Category | People & Blogs |
| Tags | IBD | Independent Investment Advisor | RIA | Registered Investment advisor | career advice for financial advisors | careers | financial advisors | independence for advisors | wealth management careers |
