As a triathlete, Kevin Fisher is ultra-competitive. "I train every day. A healthy body translates into a healthy mind. This keeps me sharp, fit and energized," says the president and CEO of Northwest Financial in Herndon, Va.
Working in the investment industry brings continuous challenges. "We constantly need to rebuild trust with our clients, especially given the economy and the financial crisis of a few years ago." Many of Northwest Financial's clients are government retirees, including former CIA employees pursuing second careers.
To serve their needs, and to improve business in general, Fisher says he's constantly asking for feedback on services. One possible area for improvement is finding new personnel. "We need talented young advisors; they are in short supply and there's a growing demand," he says.
The six investment program advisors in his firm have upward of 1,000 clients each and, "we need succession plans to bring in junior reps," he says. Fisher doesn't consider himself a micro-manager; he lets advisors make most of their own decisions. "We have talented capable people who are self-starters." He tells his staff to "get out there" and find new clients through community involvement such as churches and clubs.
Bank/TPM: Northwest Financial/LPL
Location: Herndon, Va.
No. of reps managed: 6
Avg. production per rep: $708,905
Total production 2011 (projected): $5m
Total production 2010: $4.3m
AUM 2011: $569m
AUM 2010: $540m
Years at the bank: 10
Years in the industry: 13
Age of program: 13
Total number of branches: 4
Product mix: Managed accounts 66%; mutual funds 23%; VAs 10%; equities 1%
Do you decide what products are on the shelf? Yes