In our three-part blog series, we delve into the experiences of three different financial advisors who joined Forum Financial Management, LP (“Forum” or “Forum Financial”), parent company to the Wealth Advisor Alliance (WAA), to help them move forward in their professional journey. In this blog, we highlight the experience of Nicole A. Campbell, CFP®, CDFA®, AEP® who joined Forum Financial as she embarked on a career as a financial advisor.
Part Two of the blog series, Meeting Career-Switching Challenges, examines the support to grow his business that Financial Advisor Joey Schultz, receives as an investment advisory representative (IAR) at Forum Financial. Part Three, Supporting Entrepreneurship, follows the journey of Henry Bragg, who left a larger, more established practice to strike out on his own. For a deeper dive, read our Case Study: Leverage for Scale on how the WAA, in conjunction with Forum Financial, helped support Henry with the structure needed during his crucial startup period. The WAA provides registered investment advisor (RIA) firms with support and structure in an effort to deliver better service and serve more clients with scalable technology and back-office support.
NOTE: While this three-part blog series explores the avenues open to financial advisors establishing their own practice, Forum Financial also offers opportunities for growth for established RIAs through the WAA. For further insights, read our Q&A session with Jennifer Cray, CFP®, who, along with her partner, Julie Schatz, CFP®, joined Forum Financial and the WAA in 2023.
A Thoughtfully Considered Choice
Pursuing a career in financial planning can be incredibly rewarding, but it also comes with its fair share of challenges. A career in financial planning demands a significant time commitment, particularly in the early years. Building a client base, studying for certifications like the CFP® and staying current with market trends and regulations can require long hours and weekends, leaving little time for personal pursuits. Joining an established firm that offers programs that align with individual career goals can provide invaluable support for those entering the financial planning industry.
We spoke with Nicole A. Campbell, CFP®, CDFA®, AEP® about how she embarked upon the journey to begin her career as a Financial Advisor at Forum Financial.
Taking the Leap
Nicole entered the financial planning industry when she joined a small RIA owned by a CFP® financial advisor. She explained her prior role in operations, “I managed the running pieces of the advisory firm. The demands that were placed on me were pretty high and I had the demands of a young family as well. I realized it wasn’t conducive for me to keep working at this firm, meet my goal of getting my CFP® to become an advisor and raise my family. I felt like I needed to make a change to grow properly and at my own pace.”
As she contemplated the avenues that were open to her, Nicole began to extensively research the opportunities that were available. She focused on financial planning career opportunities with specific goals in mind. “When it was time for me to make the change, I agonized for a while and interviewed at least 10 firms. I realized I was looking for a way to jump from operations to an advisor, and that’s a pretty big leap. There are restrictions to doing that, both financially and time- and experience-wise. I was working to craft a plan that would allow me to work in operations for a firm and pursue becoming a financial advisor. I basically wanted to craft my own plan.”
Crafting an Individualized Plan
As her search progressed, Nicole noted, “I found different firms that would allow me to work in operations while allowing me to pursue becoming an advisor. However, the philosophy or the environment didn’t feel right. I wanted to be at a firm that had the same customer-first philosophy and approach to portfolio management as my previous employer.” Nicole interviewed various firms including Forum Financial. She immediately knew she had found her new professional home after speaking with Forum. One of the considerations that solidified Nicole’s decision to join Forum was that she would own 100% of her book of business as she established her clientele. “They were so supportive and crafted a special career path for me to satisfy everything I needed while also fitting me in with their needs. It was a win, win situation for both of us.”
After joining Forum, Nicole was able to pursue her CFP® over several years while leveraging her experience by working in the company’s back-office operations. As she pursued her career path, she found a mentor at Forum, and together, they created a plan for her to service his clients while growing her client base and continuing to gain experience in a financial advisor role.
The Forum Financial Difference
Nicole wore a variety of operational hats at her previous job and trying to find the time to ‘go the extra mile’ in servicing clients was stressful. She noted, “Now that I’m at Forum I don’t have to deal with the vast majority of the things I had to do before such as compliance reporting data and downloading and maintaining trading files. They [Forum] make sure all that is running smoothly and marketing is done in the background. They facilitate all of that for us and it makes our lives so much easier.” Nicole noted that working at Forum allows her to take better care of her clients and give them the proper service they deserve. “Having the time to get to know my clients results in deeper relationships that allow me to be a better advisor.”
An Expanding Role at Forum Financial
Nicole is actively involved in two peer support groups at Forum and serves as a leader for one of the groups. Forum’s peer groups offer a space for advisors to share their experiences and ask questions which can be invaluable for those beginning a career as a financial advisor. She noted, “We discuss case studies that cover timely information such as tax law changes. Our topics are designed to engage our advisors and provide the opportunity to learn from one another in a fostered community setting.”
Looking Towards an Exciting Future
When asked about plans for the future, Nicole enthused, “They [Forum] have been amazingly supportive of me and my needs and career path. So much so that I’m a true fan and I will be with Forum for life. I’m so excited for the next 20-30 years.”
While Nicole is positive about her growth potential as an advisor, she noted, “The ability to grow at my own pace is very important. That was one of my biggest requirements [in selecting a firm to work with] because I wanted to steadily grow while my kids were small and then ramp up. Now at this point I have a 16-year-old and a 22-year-old and although I still want balance in my life, I have been able to really grow my business over the last few years. I feel like the sky is the limit because I have so much support from a team of client services associates, back-office support, compliance and marketing.”
Nicole noted that she is aware that she has a capacity issue and is positive about the future support that Forum will supply. “I think my path will be to eventually hire somebody who is an aspiring financial planner who wants to learn like I did from the ground up and be willing to learn every aspect of the of the business. I’m not quite ready yet, but I’m close, and when I do, it’s going to be unlimited growth.”
Final Thoughts
When asked if she had any final thoughts, Nicole shared, “I just love the type of people that Forum attracts. Everyone is very down to Earth, easygoing, intelligent and always wants to do the right thing. We’re collaborative and everyone is pulling from the same side of the rope. I’m so proud of the firm that we’ve evolved and of all the people that helped make Forum the amazing company that it is.”
Get to Know Forum Financial
As Forum Financial, advisors are entrepreneurs — as such, we are an advisor-owned firm and intend to stay that way. Everything we do — from our ownership model to the client experience we help you provide —is built by advisors, for advisors. We know that every advisor must prioritize client-facing activities above everything else. We enable you to better leverage your time and increase the chances of raising your client engagement, referral and revenue rates. The same efforts that define your success are the priorities of our incredible team and technological investments: it is all about you. Contact us if you’d like to discover more about how Forum Financial can help you achieve your professional goals.
We help advisors establish and grow successful wealth management practices. To learn more about how we can help you amplify your life’s work, contact us at team@waalliance.com. You can follow us on LinkedIn.