Words of Wisdom: Advice on Running a Business from Equita Members

Financial advisors have been going independent and starting their own practices for years now, and the pandemic has accelerated this trend. The COVID-19 crisis has inspired many financial planners to pause, reflect on their career path, and finally hang out their shingle as solo firm owners.

Katie Burke, Bridget Venus Grimes, and Mindy McCubbin have all been running their own financial advisory practices for a while. Here’s their advice on starting and running a business:

Mindy McCubbin

Entrepreneurship Is An Emotional Roller Coaster

“I wish I would have known that entrepreneurship was exactly like emotional rollercoaster it’s said to be. I’ve felt empowered, exhilarated, and exasperated — sometimes all within the same day!

However, building my firm has been a rewarding and life-altering experience. Not just because of the impact it has had on me, but because I get to help clients find more freedom, greater peace, and richer meaning when it comes to their money. I feel incredibly privileged to be invited into their lives to help uncover what true wealth really means for their family. That is why I love this business.”

—Mindy McCubbin, ChFC®, Owner and Founder of Truman Wealth Advisors

Plan With The Best Intentions, But Be Flexible

Katie Burke

“Since the pandemic began, I have realized how important it has been to adjust my expectations and communicate realistic expectations to my colleagues and clients. Prior to the pandemic if there was a tight project deadline, I had no issues working additional hours to get it done, but now life was different. …

Through my network I found an operations assistant to help with client tasks, and a marketing expert to help continue to market my firm. These decisions were key to help my businesses run while I was helping my children with schoolwork.”

—Katie Burke, CFP®, Founder and President of Method Financial Planning and Co-Founder of Equita Financial Network in Thrive Global

Bridget Venus Grimes

Build a Support Network

“When I first launched WealthChoice, Katie Burke and I became sounding boards for each other. We had totally different firms and a different target audience, but we became our own little support network.

As a solo firm owner in the beginning, you really do feel siloed — even more so now during this pandemic. It’s important to build a support group — whether that’s of industry professionals or just friends and family — that can help you help you through the highs, lows, and everything in between.”

—Bridget Venus Grimes, CFP®, President of WealthChoice and Co-Founder of Equita Financial Network

Learn from the Collective Wisdom of the Equita Community

One of the benefits of being part of Equita Financial Network is being able to get support and business advice from members at all different places in their careers. If you’re interested in becoming a Member Firm, reach out to our team today to learn more.

Privacy Notice

We recognize the importance of protecting our clients’ privacy. We have policies to maintain the confidentiality and security of your nonpublic personal information. The following is designed to help you understand what information we collect from you and how we use that information to serve your account.

Categories of Information We May Collect

In the normal course of business, we may collect the following types of information:

  • Information you provide in the subscription documents and other forms (including name, address, social security number, date of birth, income and other financial-related information); and
  • Data about your transactions with us (such as the types of investments you have made and your account status).

How We Use Your Information That We Collect

Any and all nonpublic personal information that we receive with respect to our clients who are natural persons is not shared with nonaffiliated third parties which are not service providers to us without prior notice to, and consent of, such clients, unless otherwise required by law. In the normal course of business, we may disclose the kinds of nonpublic personal information listed above to nonaffiliated third-party service providers involved in servicing and administering products and services on our behalf. Our service providers include, but are not limited to, our administrator, our auditors and our legal advisor. Additionally, we may disclose such nonpublic personal information as required by law (such as to respond to a subpoena) or to satisfy a request from a regulator and/or to prevent fraud. Without limiting the foregoing, we may disclose nonpublic personal information about you to governmental entities and others in connection with meeting our obligations to prevent money laundering including, without limitation, the disclosure that may be required by the Uniting and Strengthening America Act by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001 and the regulations promulgated thereunder. In addition, if we choose to dispose of our clients’ nonpublic personal information that we are not legally bound to maintain, we will do so in a manner that reasonably protects such information from unauthorized access. The same privacy policy also applies to former clients who are natural persons.

Confidentiality and Security

We restrict access to nonpublic personal information about our clients to those employees and agents who need to know that information to provide products and services to our clients. We maintain physical, electronic and procedural safeguards to protect our clients’ nonpublic personal information. We respect and value that you have entrusted us with your private financial information, and we will work diligently to maintain that trust. We are committed to preserving that trust by respecting your privacy as provided herein.