Rear View Mirror Seldom Lies

Everyone thought I was off my rocker for starting a business in the Great Financial Crisis.

Fall 2008. The financial world was collapsing. I was running a successful investment advisory office in DC with 100 clients and $90 million under management. Life was going well.

Then my corporate overlords started second-guessing trades that were made to protect my clients’ life savings. My overlords thought they knew better than me, the guy actually sitting across from the clients.

I refused. But I also started planning my exit.

The situation: My wife and I were expecting our third son. I had a 3-hour daily, round-trip commute that was killing me. All the while, we were in the midst of the worst economic environment in a century.

My wife’s vote? “ Stay put, this is crazy.”
My vote? “I’m going on my own.”
Final decision? I started my business.

I built everything from scratch on a shoestring budget. I taught myself web design, filed all the regulatory paperwork, and built my investing tech stack. When my son was born in the fall of 2009, the economy was still raw.

Then my old company sued me for taking clients.

So there I was: new business, new baby (3rd son), new lawsuit, and bills to pay. You know what I did? Swallowed my pride and took a night job at a restaurant for 10 months to keep cash flow coming while I built my business.

In real time, I looked like a complete idiot for leaving stability for chaos. Almost sank my marriage as well. But I was willing to bet on myself and busted my hump to make it happen.

The lawsuit was settled for the original terms of the non-solicitation I signed. A scant amount compared to what I gained in money and time.

Fast forward to 2021. The business I built merged with another entity in 2012, where I became a partner. We sold our wealth management business in July 2021 for a tidy sum. 👍

Along the way:
👶 I got to see my kids grow up.
✈️ Worked on my own terms.
🏦 Built something I was proud of.
💰 Achieved financial independence.

Lesson = The biggest career risks often look reckless until you’re viewing them in the rear view mirror.