Loyd Promoted to Paraplanner
Loyd recently passed the Series 65 exam and registered as an Investment Advisor Representative. Now able to execute trades and provide clients with investment advice, Loyd has been promoted to Paraplanner. Some of his new responsibilities include placing trades to manage client portfolios as contributions and distributions are made, reviewing client portfolios and rebalancing them as needed.
The Test
“Studying for the Series 65 Exam took significant time outside of work hours, and on weekends,” says Loyd. The Series 65 Exam is focused primarily on state securities laws, regulations, economic factors, and business information. It also includes questions on investment vehicles and client investment recommendations and strategies, analysis and ethics. “To prepare for the exam, I studied a textbook 600 pages in length and watched hours of instructional videos. This is a great step toward my goal of obtaining the Certified Financial Planner™ (CFP®) designation and I’m excited to now be able to help clients more and contribute to the work we do for clients in new ways.”
Loyd says taking the exam reinforced why he loves working at Financial Freedom for Dentists. “I was able to study about the differences between brokers and advisors. I am grateful to be involved with a firm that provides advice for a fee rather than one selling products for a commission because I love helping clients reach their goals.”
Picked for the Position
As Loyd was graduating, three other financial services companies pursued hiring him. However, two weeks after having his first child, Loyd chose to drive on his own dime hundreds of miles to interview face-to-face with us. “I knew I wanted to end up in a small company that I could grow with” says Loyd. “However, the hardest part for me was finding the right fit. It was obvious from the first time I met Nate and Sarah when they spoke at the Wealth Management Society meeting which I attended, that they were exactly the kind of people I wanted to work with. So, when school went online my last semester due to Covid, I jumped at the chance to drive from Rexburg to Seattle because I wanted to leave no doubt as to my interest and commitment to being part of the firm and culture here.”
Looking for the right fit for the team at Financial Freedom for Dentists, we saw qualities in Loyd that fit our team values of trust, communication and expertise, and his passion for financial planning, work ethic and integrity stood out amongst other candidates. Loyd’s enthusiasm for financial planning includes reading about latest principles and practices “just for fun,” and he loves serving clients as a fiduciary. “Learning about financial planning practices and principles is something I do in my free time,” says Loyd. “I’m so grateful that I get to work here where it’s not about selling products but serving clients and helping them work towards financial freedom.”
Working with us this past year Loyd has proven he is the right person for client service, and now for increased responsibilities as a Paraplanner. “Involving him in the client meetings, leveraging his technology, communication and client service skills has been a great asset to the service we provide clients,” says Nate. “For example, he helps a lot with the preparation and follow-up for client meetings and has created tools and processes for us to serve our clients more fully as well as improve our internal workflows.”
Starting Football QB to Financial Planning?
While this career may seem far away from Loyd’s glory days when he started on his high school football team as quarterback, financial planning has a few common threads to the characteristics, strategies and skills required in a good quarterback.
“I love to think of how a Financial Advisor works for their clients, which is somewhat similar to how a quarterback helps his team to achieve touchdowns. On a football teams’ offense there are many positions that require different skillsets, such as receivers, running backs, and linemen. It is the job of the quarterback to coordinate all of the different positional players’ efforts and keep the offense moving towards their goal of scoring a touchdown. Clients often work with many different advisors and professionals who are great at their jobs. However, the mandate of the Financial Advisor is to help keep the client moving toward their financial goals."
“In football, defensive teams will often change their schemes to try to stop the offence, and in life there are changes that happen to client’s financial situations. Just like a quarterback must adjust quickly, I love how we help clients make adjustments to the financial plan when unexpected things in life happen. I enjoy working on the team with Nate as the financial advisor as he helps clients work towards their financial goals,” says Loyd.
Pizza, Potatoes & Point Averages Produce Performance?
Loyd learned very young what it takes to run a business in helping his dad at Time Out Pizza in Ephrata, Washington. Running the family pizza business in Ephrata also may not seem like the likeliest of paths to becoming a financial advisor but starting out at a very young age, Loyd worked and had responsibilities. “I got paid a penny for each pizza box I folded when I was a kid,” says Loyd, “I would fold 50 boxes as fast as I could so that I could get 2 quarters to play a game at the arcade." When Loyd wasn’t helping out at the restaurant, he was either working hard in football, basketball, track or doing homework. Point averages on the sports field or gym as well as in school was a priority for Loyd. He worked hard to earn a scholarship and kept at 3.98 GPA through college.
Working now with the same drive to study strategies, plays and put the time in he did on the football field, basketball court or running track, Loyd says “People may think I’m a bit weird, but I read the journals, and study the latest trends for fun. I always knew that in sports, the great ones put in extra practice time outside of practice with the team. That’s what I feel like I need to do if I am going to be a great financial advisor someday.”
What’s Next?
Loyd continues to work towards becoming a CFP® Professional and aspires to continue his personal and professional development to one day serve clients as a Financial Advisor. “From my first introduction to the financial services industry, I knew I wanted to be a CFP, helping clients with financial planning and investment management,” says Loyd.
Loyd has enjoyed making Snoqualmie home with his wife Katie and his new baby Margie. “Marrying Katie, has been the best decision I have ever made” says Loyd. “She’s the brain and brawn behind anything strong or good I do.” She grew up on a farm, working the harvest for potatoes, and is no stranger to hard work.
Please join us in congratulating Loyd on his success. We are excited about this next chapter at Financial Freedom for Dentists and the service we will continue to provide for dentists in the Pacific Northwest.
