Whitefish, Montana is a sleepy little town that’s starting to become less sleepy as more people discover the beauty of this part of the world. You land in a beautiful airport that’s, of course, under construction, with the mountains as the backdrop. Glacier National Park is right there, a stunning view while you wait to get picked up from the airport. I had the opportunity to head to Whitefish to visit and spend a few days with some folks who have become fast friends.
This all started about four years ago when our team decided it was time to look for a different back-office partner. The reasons were many, but mainly we wanted to build a practice that serviced our clients in a flexible way, with people who cared about our clients and our business.
After a year and a half of interviews, we chose a midsize company out of Florida. The decision, consistent with how I make choices, was all about the people. The connection, the engagement—it was the people that mattered. Most of the other companies we interviewed focused on our mix of business, our production, and their systems, payout, and money. Not that those things aren’t important, but they didn’t need to be number one for us. We needed the right partner for the long term.
Sparing you all the details, we chose this company and attended our first annual meeting. At the conference I got to connect and meet many people from the home office. One of the owners, who I hadn’t met until this meeting, introduced himself and we got to chatting.
During our conversation, he asked me one of the most important questions: "Mark, what can I do for you?" I believe he said it purposefully, as part of his process. Sometimes he can fulfill those requests, other times he can't—it depends on the ask. I thought about it and said what I’d really like is to organize a growth group of men and women in the company who share similar philosophies, ethics, and morals, and are working to build their practices over the next decade or so. He thought it was a great idea and promised to think about it and reach out to some people to get this group organized.
Truth be told, it took over a year to really get it organized, but once we did, it started to roll. We decided to learn about each other’s practices virtually and then meet in person in Whitefish, Montana. We rode e-bikes in Glacier National Park, went to the rodeo, visited local shops, had ice cream, Mexican food, plenty of hamburgers and barbecue, and tried to catch the sunset.
But the two most impactful times were the moments we discussed how we run our businesses and handle challenges. On Friday, we spent a significant amount of time talking about the business landscape, what’s changing, what to watch for, and how to adapt. We talked about marketing, staff, succession, expenses, services, pricing, challenges, and opportunities. It was an amazing time to connect.
We had lots of laughs and learned a lot about each other. This reinforces a point I’ve made before: our business, unlike any other, is all about human connection. It’s about people. There’s no business process without people, and no better company than another without its people. People are, in fact, the most important.
So, what’s the point of this story? We had a fantastic time. I think I’ve gained several more friends, confidants, and folks to bounce ideas off of. That’s core to who we are and what we do. We laughed, probably spent too much money, and built relationships that I believe will last for decades. What we learned, we will all take back and hope to implement some of those ideas to benefit our clients, staff, family, and friends.
If you have the chance to work with or partner with people who share your values, morals, and ethics, and exchange ideas for your future goals, I highly encourage it. Yes, it takes time, money, and commitment. It takes vulnerability to share what you do well and what you don’t. But if you find the right group, it will drive nothing but growth and impact, which is what we are all trying to achieve.
Mark J Modzeleski, CFS, CLTC, AIF
President, Legacy Wealth Advisors of NY