Alright – so today we’ve got the honor of introducing you to Laura Davis. We think you’ll enjoy our conversation, we’ve shared it below.

Laura, looking forward to hearing all of your stories today. I’m sure there have been days where the challenges of being a business owner force you to think about what it would be like to just have a regular job. When’s the last time you felt that way? Did you have any insights from the experience?

I’ve been a financial advisor for almost 10 years, but I launched my own firm two years ago. I’ve always been entrepreneurial…and even my first firm where I was for 7 years I was one of two and most of the ownership responsibilities were shared.

Even so, sometimes I look at other advisors with salaries, bonuses, and a team and boss to tell them what to do and how to structure their day and I’m JEALOUS. There are always trade-offs with being your own boss. The downside is that you own your time and results. The upside is…you own your time and results.

Part of what drives me is that I not only have a client base for my RIA, but I also wrote a book on personal finance and am branching out into public speaking and corporate engagements. Under another firm, that business would “own” part of my creative process, and I wouldn’t have the flexibility to work the hours that I want to building what is ultimately my dream life. There would always be a conversation about how I’m spending my time, whether they deserve a piece of my outside revenue, and what I can and cannot say in public or post on social media. For me, owning every aspect of what I do is worth the risk of failure.

Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.

I was a career-changer in my early 30s. My goal was to find something to do that I was passionate about, but also where I could make a good living and support my family. I absolutely LOVE financial planning, and nothing makes me happier than talking with people about their money.

A few years into being an advisor I realized that a lot of people had the same questions about money. There were a lot of common questions about how our systems work, how to deal with a partner and money, how much to save, etc. So I was inspired to write a book answering those questions. It’s a unique project…I partnered with an artist who illustrated the entire book making overwhelming financial topics relatable and easy to understand. I am SO PROUD of this book, and since I published it in late 2023 it’s opened doors to more opportunities to spread my message.

My goal is to help as many people as possible overcome financial overwhelm so they can focus on what’s important to them while their money works for them in the background as a supporting character.

Have you ever had to pivot?

After my first 7 years as a financial advisor I felt I needed a change and more growth opportunities. I very carefully started interviewing with different firms, and accepted an offer where I felt I could be with them long-term and become a leader.

Unfortunately, there were some things that came to light over the first few months that I was there that made me uncomfortable and didn’t align with my ethics and values. One particularly eggregious thing happened about 6 months into my tenure, and I couldn’t in good conscious continue at that firm.

I had to make a choice at that point…go back to interviewing again or start my own firm. I am well aware that there are plenty of great environments to work in, but I didn’t want to risk that I would go to yet another place where I didn’t agree with leadership. It was a risk, but starting my own firm was the only way to work exactly how I wanted to.

Any stories or insights that might help us understand how you’ve built such a strong reputation?

There are a lot of traits that have helped me be successful and build a good reputation. I think my clients would say that I have a special knack for connection and honesty. I’m more of a therapist to them than an advisor. While I’m great with numbers, I use them to support my client’s goals. My ability to help them understand how their money supports their values and give them peace of mind about their financial future is my special sauce. There are still a pretty small minority of us financial advisors (about 10%) who are fee-only and don’t sell product. My clients know I act as a fiduciary 100% of the time.

Contact Info:

• Website: https://www.financiallab.us
• Instagram: @lauradmoney
• Linkedin: https://www.linkedin.com/in/lauradmoney/
• Youtube: @lauradmoney
• Other: TikTok @lauradmoney