By It was 20 years ago when two fellas had the crazy dream of building a financial services firm from the ground up. That might not sound so crazy to you — there are all kinds of financial advisors out there — but we were a little different.
For starters, we were young. We were both in our 20s and going into a business where the average age is over 50. Not a single bank in Lexington would give us a penny as entrepreneurs to start this firm. We were left to scrounge together our savings and ask a few family members for loans to help launch our vision. If it had been left to the bankers, Family Financial Partners would never have started.
Our goal was to offer financial services that went above and beyond industry standards. From the very beginning, we were committed to putting our clients’ best interests first. We set out to help people work toward their financial goals and dreams, as if they were a part of our family.
Thus, FFP was born. Thirty-three client families signed on in that first year, and we still ended that year celebrating the fact that we were still in business. We celebrated hiring our first intern, then our first full-time employee.
The number 20 doesn’t begin to describe what we learned along the way. We learned to stop micromanaging each other and to recruit a team that was in line with our personalities and our vision for the firm. We had our lives complicated and enriched by marriage, children, and expanding community. We literally grew up together as a business. We also remained good friends.
The number 20 doesn’t begin to describe the challenges we faced early on, whether it was something small like hiring a bad fit or something massive like the 2008-10 financial collapse. We even made a few mistakes. When we first started, nobody had any idea how the industry would change and how consumer demands would evolve. But by admitting that we still had more to learn, in those mistakes we developed our business process.
The number 20 doesn’t begin to describe the number of client families who have gone on that ride with us, whether they’ve been here for two decades or two months. We have countless success stories of those clients changing the trajectory of their lives, their kids’ lives, and their grandkids’ lives. (If you haven’t watched these client success videos, I really encourage you to do that. We have more coming out every month.)
One of the things I’m proudest of is that, when people hear the name Family Financial Partners, they think “dependable.” While we can’t make guarantees about the financial markets, on health, on family status, on career advancement, we can guarantee that we’ll be forthright with news, whether good or bad. Our clients know they can count on us to do what we say, within a reasonable timeframe, and to hold them accountable to their goals.
I’m proud that we’ve built a stable and successful company where we can provide for our team’s families while helping our client families pursue their financial goals. And we still have a lot of tread on our tires.
We’re excited about the future of the leaders on our team, the clients we’ve met, and those we haven’t yet been introduced to.
So, while 20 years feels like a major milestone in the life of Family Financial Partners, we know that it’s only the beginning.
If you know someone who’s ready to come on this ride with us, send them our way. And thank you for trusting us with your financial goals.
I also want to invite you to celebrate in person with us. We’ve got two fun social events coming up, and we’d love to see you:
UK Tailgate
Saturday, October 25
Time and Location TBA
Christmas Open House
Thursday, December 4, 4-7 pm
FFP Office Suite
Article by David Smyth, Senior Partner and Wealth Advisor at Family Financial Partners — a financial services firm in Lexington, Kentucky.