TrueNorth Wealth, a Utah and Idaho-based registered investment advisor (RIA), is quickly becoming a nationally recognized name.
Founded in 2006, the financial planning firm helps clients “navigate risk, ethically reduce tax liability and strategically plan for the ever-changing future” by providing a well-diversified range of services (yahoo!finance).
Today, TrueNorth manages “well over $860 million and is positioned to further strengthen its impact and leadership in the communities it serves,” (yahoo!finance).
CEO Joe Griffin accredits much of TrueNorth’s growth and success to its business philosophy: going beyond answering client questions and actually guiding and providing them with counsel and information they didn’t even know they needed.
“High-net-worth individuals have tremendous amounts of complexity in their mortgages, taxes, estate planning, money management, overall financial exposure, insurance and more,” said Griffin. “TrueNorth Wealth is proud to offer comprehensive, commission free financial planning. For most clients, they call us asking for help with one or two of these topics. They hire us because we help them solve those immediate needs. However, they stay with us because we jump into all of these other verticals in their financial lives. That is something we are proud to be a part of.”
Instead of charging extra fees for additional services, the team at TrueNorth Wealth collaborates with, mentors and supports their clients through every stage of the financial planning process, tailoring each step to meet their clients’ unique needs.
“We believe that we are rare in that regard — in actually validating and proving to clients that we care about their financial well-being because of the time we spend positioning them intelligently and not charging any more money for going above and beyond what they hired us to do.”
TrueNorth stands apart from other financial firms in that it is fee-only or commission-free.
“We think it’s important for the end client to understand that they’re working with an advisor who is not being clouded in their recommendations, by commission,” said Griffin. “So, when we make recommendations to clients, knowing that we don’t have any financial incentive in our recommendations, we believe it creates a more cohesive environment for holistic and pure financial planning.”
TrueNorth’s staunch business philosophy also applies to its employees — company leadership is dedicated to placing employees in positions that expand their capabilities and provide opportunities that they enjoy.
“Because we have a very open-door policy, it creates a healthy dynamic,” said Griffin. “At the end of the day, we just have employees who want to be here.”
Although TrueNorth Wealth has seen explosive growth and continues on that trajectory — Griffin remembers a time, about 10 years ago, when he was one of just three employees.
“When I first started in 2011, we averaged 12-20 new clients a year,” said Griffin. “Now, we are meeting with hundreds of new clients a year, with 2021 being a banner year. With a growing team of 20, we are excited about what we have been able to build, and where we will go from here.
Griffin’s advice to small business owners is to stay focused on treating their teams well and creating a work environment that people never want to leave.
“There are many things that leaders need to do, and not do to make this type of work environment a reality, but it is possible for any organization to achieve! I have been a part of organizations where employees never want to leave, and I have seen companies implode,” said Griffin. “There is a palpable difference, and it does matter.”
As a way to give back to the community, Griffin is involved in the Ouelessebougou Alliance: a program that provides health services, educational opportunities and self-reliance guidance to individuals and villages in Mali, Africa.
“There are plenty of good causes for people to jump in, get busy, help and lift,” said Griffin. “This is one that is a good fit for me and where I can enjoy making a difference. However, there are needs all around our neighborhoods, communities, state and country. Find a good cause and jump in!”
Looking to TrueNorth Wealth’s future, Griffin emphasized the company’s priority in maintaining excellent customer service.
“We’ve been very intentional about adding people to our team so that every client is experiencing A+ customer service, even while we’re growing,” said Griffin. “At the end of the day, it really doesn’t matter how quickly an organization is growing if they can’t take care of their clients. We are not experimenting with this, we are resolved to making sure every client’s needs are taken care of. That will remain non-negotiable for the firm, always.”
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