I think people who lack self-confidence depend too much on others to make them feel good about themselves. Listen to me closely here: You do not need people to validate you.
“I’ve concluded that while nobody plans to mess up their life, the problem is few of us plan not to. That is, we don’t put the necessary safeguards in place to ensure a happy ending.”?
“The young do not know enough to be prudent, and therefore they attempt the impossible – and achieve it, generation after generation.” ~Pearl S. Buck, Pulitzer Prize recipient, Nobel Prize in Literature
Attempting the impossible – and achieving it perfectly describes Jeremy’s career in the finance industry. Barely 20-years-old he became a financial advisor with Edward Jones Investments. Shortly thereafter, he was traveling to the firm’s headquarters in St. Louis, Missouri on a regular basis to train their investment advisors in his role as a “Visiting Mentor.”
As Jeremy McGilvrey’s success grew, so did offers from virtually every major financial planning firm. Against the better judgment of many of his close friends at Edward Jones, he was persuaded to join forces with Merrill Lynch as a vice president to their High Net Worth Division.
However, before long, Merrill’s philosophy of maximizing commissions instead of maximizing returns began to make Jeremy feel uncomfortable. Furthermore, consistently being forced to sell clients what they want, rather than what they need did not sit well with him either. Eventually, these malevolent tactics drove him away.
Despite his disappointment with Merrill Lynch, Jeremy McGilvrey had an intense passion for the finance industry (which he still has), and he had developed a substantial client base. Jeremy wanted to remain a financial advisor; he just wasn’t certain where. He began interviewing with several prominent advisory firms and decided to take a position with Bank of America’s Private Client Group in Austin, Texas.
The arrangements for a seamless transfer to the bank were planned so that his move could be implemented without Jeremy losing any of his clients. Nonetheless, the night before he was to make the transition, he had a conversation with his father and the advice he was given gave him second thoughts.
Jeremy McGilvrey’s father told him as long as someone wrote his paycheck his growth would always be limited. That induced Jeremy to contact the bank the following day and tell them, “Thanks, but no thanks.” He recalls this being an extremely difficult decision because the position at the bank also included a $500,000 upfront bonus. But Jeremy knew his father was right. So he took a leap of faith, resigned from Merrill Lynch, and started his own firm, Hill Country Wealth.
This gave Jeremy the ability to unleash his full potential. Not long thereafter, he went on to achieve extraordinary success accomplishing things that were unprecedented in the finance industry. Jeremy McGilvrey was named The Financial Planning Expert by an NBC television affiliate and prominently displayed on all of their TV networks. Reuters Advice Point™ selected Jeremy McGilvrey as one of the Top 200 Financial Advisors in the United States. Other awards, such as the Top 40 Under 40 Business Owners, Chairman’s Club, and Top 10 Largest Financial Planning & Advisory Firms began to accumulate. It appeared Jeremy’s career in the finance industry was flourishing. The firm he founded was managing nearly half a billion dollars ($487,000,000) and employed more than a dozen Certified Financial Planners®.
Jeremy McGilvrey eventually relinquished his day-to-day operations and began solely focusing his attention on growing his firm by purchasing other advisory practices in addition to developing his mentorship program for financial advisors.
Then, catastrophe struck…
THE FALL | Jeremy McGilvrey
“I’ve concluded that while nobody plans to mess up their life, the problem is few of us plan not to. That is, we don’t put the necessary safeguards in place to ensure a happy ending.” ~Andy Stanley, Senior Pastor North Point Community Church
High-Flying Financial Advisor Crashes read the front-page of the Sunday newspapers. “Gone are the striking black Bentley convertible, the junkets to Las Vegas and Australia in private jets, and the photo ops with Eva Longoria and the other beautiful people,” read directly below the eye-catching headline, as well as “Gone too, apparently, is the much-advertised Midas touch.” This was just a small part of many devastating blows the press would take.