John Loyd became a financial advisor not because he wanted to, but because he felt "called" to it.
As an early teenager, Loyd remembers asking his dad what it meant for the Dow Jones to go up or down. “He tried to formulate an answer, but I could tell he really didn't know what he was talking about,” Loyd says, with a chuckle. “That’s when I went to the library and started looking up stuff and just kind of went from there.”
Loyd recalls being “pretty fascinated” with what he saw and decided to study finance. “The reason I got into this business was to help people and that's never changed,” he added.
Indeed, the owner and founder of Texas-based The Wealth Planner puts people first. He recalls another instance in the 90s when he was at a business meeting where the presenter asked all the advisors in attendance to go around and state why they were in the business.
“I was shocked and candidly a little horrified that people were leading with ‘Hey, the reason I do this is because I want to make money’. I sincerely hope that that's not their top objective.”
While he was in college listening to an audio tape by the late Zig Ziglar, Loyd had an epiphany. “I remember him saying, ‘You can have everything in life you want… if you will just help enough other people get what they want.’
"I have long come from the premise that if we are doing what is right and providing exceptional value to clients, the business will continue to grow and prosper,” Loyd said.
This belief has served Loyd well as he is being recognized as an InvestmentNews Awards 2024 Excellence Awardee, with the winners announced on June 20 at 583 Park Avenue, New York City in a glitzy, red carpet ceremony. Click here to register to attend.
As a differentiator from some of his colleagues, Loyd highlighted he feels very passionate about taxes.
“In our industry, as you work with wealthier folks, taxes are such a critical component of every single decision,” he says. “Most financial advisors have an extremely low knowledge of taxes and tax impacts, so I think that's definitely one thing that sets me apart.”
Loyd is also passionate about giving back to his community. Most recently, he created a dancing event, Dancing with Dads, to benefit local charities. “My daughters and I have been dancing since they were little. We wanted to create a fun event that would bring fathers and daughters together, but also benefit the community.”
Merrill's latest hires span Colorado to Louisiana, even as industry-wide recruiting data suggests the firm is losing almost as many advisors as it gains.
The $36 million buy allegedly hid inflated books and a $50 million diversion.
“An award citing emotional distress is very unusual,” an industry executive said.
New EBRI research found workers who participated in employer financial education reported higher confidence, literacy and financial satisfaction.
Beyond operational excellence, the winning advisors of the future are the ones who can reach across multiple disciplines without discarding specialist skills.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income