Each year, Carson Coaching recognizes outstanding firms that are committed to making a difference in the lives of their clients, stakeholders, communities, and the financial advice industry. We are pleased to announce the finalists for our 2019 Emerging Firm of the Year award! The Emerging Firm of the Year award recognizes firms within their first 24 months of Carson Coaching membership that have demonstrated exceptional execution and implementation of core practice management concepts. Many of these firms are also elite achievers in other areas, including asset growth, community involvement, and client experience. The three finalists in this category are:
Alliance Financial Partners, Inc.
Member name: Eddie Herrera and David Fowler
Firm name: Alliance Financial Partners, Inc.
Location: Palm Coast, Florida
Team size: 5
Total AUM: $100.056 million
Being named the “Best Around” for the seventh year in a row in the financial planning category of the Readers’ Choice News-Tribune awards from the Daytona Beach News-Journal, Alliance Financial Partners, Inc. is doing something right. Now, the firm can add another honor to its repertoire: a finalist for the Emerging Firm of the Year Award from Carson Coaching. Much of the Florida firm’s success stems from the diversity of experience its team brings to the table. Team members have worked in pensions, unions, real estate, construction and public office – which offers a unique value when consulting or planning for clients that would be hard to find elsewhere. Women outnumber men on the Alliance team three to two, bringing even more diversity of thought into the mix. With as much diversity in thought and background Alliance has, it also provides different perspectives and diverse feedback. It recently held its first Client Advisory Council meeting and already received great insights into how to better attract and serve its ideal clients. With all this perspective, Alliance has greatly increased their book of business. From 2017 to 2018 Alliance’s AUM increased by more than 84 percent, its number of client households increased more than 54 percent, and gross revenue increased more than 54 percent.
Endeavour Wealth Management
Member name: Grant White
Firm name: Endeavour Wealth Management
Location: Winnipeg, Manitoba, Canada
Team size: 9
Total AUM: $203 million
The last year has been a big one for Grant White and his Canadian-based firm, Endeavour Wealth Management. His advisory team added two new advisors, left its bank dealer and started its own independent business. These changes validated White that he had the right processes and branding in place to not only attract new clients but develop talent. And now, it’s earned his team recognition as being named a finalist for the Emerging Firm of the Year Award by Carson Coaching. White used Carson Wealth as a template for building his business, and lists his coach through Carson Coaching as instrumental in the firm’s success thus far. He said he’s learned to prioritize his life, putting family and friends before business, and has noticed the improvements both in life and the firm. He’s traveled to other wealth management firms around the world and implemented ideas he learned. This focus on improvement has translated into great client experience. White and his team left their bank-owned dealer to remain unbiased and gain more options in the services it provides clients. It hired more client-facing stakeholders and nurtured a culture of treating the client as they would like to be treated. From 2017 to 2018, Endeavour has experienced tremendous growth across the board. It increased in AUM by more than 181 percent; increased in gross revenue by 100 percent; and increased in the number of client households by more than 157 percent.
Goodwin Investment Advisory
Member name: Tim Goodwin
Firm name: Goodwin Investment Advisory
Location: Woodstock, Georgia
Team size: 7
Total AUM: $82 million
Goodwin Investment Advisory firmly believes its clients are truly the heroes in their own lives – and it’s lucky to help them in their endeavors. The firm is known for celebrating client milestones, and now it has a milestone of its own: being named a finalist for the Emerging Firm of the Year by Carson Coaching. Like a proud friend, the Georgia-based, employee-owned firm celebrates client milestones (like paying off mortgage or reaching $1 million in AUM) and life-changing events (including a new baby or new house). On client birthdays the firm gifts a “birthday book” that will help them grow. After years of building a solid team and foundation that puts clients first, Goodwin saw the success from their consistency in 2018. The firm saw a significant increase in its new client acquisition rate – jumping from one new client per month in 2016 to one new client per week in 2018. Considerable client growth was just one area of Goodwin’s momentous 2018. Other notable successes:
- Hired another financial advisor
- Held its first Client Advisory Board
- Established a formal Investment Committee
- Launched goodSTART – a program geared toward NextGen clients and nondiscriminatory against lower income clients
Since joining Carson Coaching, Goodwin’s AUM has increased 43 percent, but his time spent at work has not. He said with processes and systems now in place, he has confidence in how he and his team does business.
Firm of the Year award winners will be announced live at Excell, May 8-10, 2019.