We recently connected with Rhys Williams and have shared our conversation below.

Rhys, thanks for taking the time to share your stories with us today Can you share an important lesson you learned in a prior job that’s helped you in your career afterwards?

Building relationships in this business is more important than competence. To be clear, you need to know what you are doing as a given. But building trust and the subsequent success from that, takes time. That is something that I continually remind myself of. It’s easy to lose track of your long-term goals in the hecticness of the day to day. It is hard to stay motivated through disappointments and unexpected challenges that arise. The same way it is hard to convince people to save for retirement! Our brains are built for survival and hyperfocus on the here and now. Cutting back today for a benefit 30+ years from now is hard to do. In the beginning of my career when I was first given direct client management responsibilities, I was confident I would be able to convince every client and prospect to hand over their hard-earned money for me to manage. I was confident in my knowledge and expertise and thought was enough to build a successful investment management business. It would be easy to get opportunities because I knew my stuff. I could tell you how to construct the most optimized portfolio and why. That said, it did not matter. I was not the first one called to meet the new prospect that I knew I could handle better than the other person that got picked. Professionals that I met were not picking up the phone and referring clients left and right. Despite the vision I had in my mind, it took years before I started to see the benefits of the relationships I was building. Whether it was centers of influence, colleagues, or clients themselves that I could count on for referrals – it took way longer than I had imagined when it came to building a level of trust that would help me build my business.
Trust takes time. It took several years to really feel like I was getting the traction I thought I would get out the gate years earlier. Despite the disappointment and the doubts I had, I continued moving forward. Its funny how you get 4 years down a path and look back and see what you came through to appreciate it. There were so many points where I questioned myself. Was I at the right company? Was this the business for me? Was I any good at this? Slowly but surely, as I continued to build relationships, got to know people and let them know who I was, my fortunes began to change. If they had it, I wish I took the class in college. Trust building is a key to long term success in the business world. Knowing how to craft the perfect business email doesn’t mean much without a business.

Rhys, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

I help successful physicians and entrepreneurs make difficult investment and wealth building decisions easier and help them execute those plans. I’m University of Florida alum of Jamaican descent. I’m father of three that loves The Office, competitive cycling, and spicy food – the spicier the better. I got into the industry digging in the weeds. I started as an investment analyst and worked my way up to an advisor over the years. I focus on investment management and wealth planning. Our industry and the knowledge of money has not always been available to everyone. As a minority millennial, I love the opportunity of working with a diverse group of clients. Many of whom are first generation wealth creators. My genuine approach sets me apart from others. I take the time to understand what really matters to my clients and have empathy for where there are coming from, no matter where that may be. Coming from a humble background, I know what its like to have anxiety about the next best move. You know managing your money wisely is important but there’s so much conflicting information out there. Who do you trust? I provide objective advice that my clients can rely on. I take my time to make thoughtful analysis of their situation and provide a sense of calm when it comes to understanding the markets. Especially given the high level of uncertainty these days. I truly enjoy the ability to provide someone with a solution to an issue or problem that gives them peace of mind for the future. I help clients solve problems. I help them develop and execute a strategy to build generational wealth for their family and plan for the unexpected. Dakota Wealth is a boutique investment advisory firm with high touch service a deep bench of expertise. We provide investment management, financial planning, and estate planning services to high-net-worth clients.

What’s worked well for you in terms of a source for new clients?

The best source of new clients come from professional contacts, existing clients, and speaking with various groups that these clients typically are connected with. Like-minded people tend to hang around each other. I love educating these groups so they can be empowered to make better decisions for their situation than they may have otherwise.

How about pivoting – can you share the story of a time you’ve had to pivot?

Joining Dakota meant leaving the security of the big bank world where I spent my career since college. It was a scary, yet exciting opportunity. I was far down the road for a position with a different bank when the opportunity with Dakota presented itself. Working at an independent investment firm meant building a client base from scratch leaving the security of a major bank referral mechanism and brand. It also meant having more control over how I built my client base. It meant more flexibility in being able to provide clients with the solutions that I thought were best for them and not forcing everyone into a box. Making the leap wasn’t easy, but it was a risk that was worth taking. I would have definitely regretted having the “What If” thought had I not stepped out of my comfort zone. Im almost 4 years in (2020 keeps getting lost in there) and I still feel I have more learning and growing to do.

Contact Info:

• Website: https://www.dakotawm.com/dwteam/rhys-williams/
• Linkedin: https://www.linkedin.com/in/rhyswilliams-cpwa-nextgenadvisor/

Image Credits
savvyshotsphoto for photos in school with large group of kids and green sweater