Insights on transitions, independence and advisor growth.
Mindy Diamond on Independence: Former $1.3B Wells Fargo Advisor on Building a Multi-Generational FirmMindy Diamond on Independence: Former $1.3B Wells Fargo Advisor on Building a Multi-Generational Firm
After 45 years at Wells Fargo and their predecessors, Larry Boggs left the wirehouse to build independent firm Boggs & Company with a team that includes three of his daughters. Larry discusses the value of family, legacy, business ownership, autonomy, and more.
This is one of those great family business stories.
Over 45 years at Wells Fargo and their predecessors, Larry Boggs built an extraordinary business managing $1.3 billion in assets.
Yet in 2021, Larry made the decision to leave Wells and launch independent firm Boggs & Company Wealth Management.
But why after more than four decades with the wirehouse?
Because, as Larry shares, he decided it was time to run the business on his own terms and serve clients as he and his team saw fit—that is, “like family.”
And family is one thing Larry knows a lot about: His 12-member team includes three of his daughters.
Plus, Larry saw the handwriting on the wall. That is, that the industry was evolving, and it became obvious they needed to update their approach to the business.
And like many others who opt for independence, Larry was craving greater control and flexibility for now and in the future.
So what does that future look like for Larry Boggs and his team? In this episode, Louis Diamond asks Larry that question and many more, including:
The motivation to make the leap after 45 years—and how his next gen influenced the decision-making process.
Changes Larry observed over the years at Wells—and how that influenced the choice to go independent over other options.
His extensive due diligence process (15+ firms!)—and why they ultimately chose to launch Boggs & Company with supported independence platform LPL Strategic Wealth Services.
Their expanded ability to support clients in independence—and how removing the constraints of a larger firm agenda is impacting service.
The things that intrigued him about becoming a business owner—and why legacy proved to be one of the most important factors.
Considerations around succession and retirement—and how they are able to plan for that in independence.
Larry’s perspective is an important one for advisors who are reflecting on their abilities to serve clients—not only now but well into the future.
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