Joe Griffin, the CEO of TrueNorth Wealth and a financial advisor, was interviewed on the Mission Matters Innovation Podcast by Adam Torres.
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In this interview, Joe Griffin, the CEO of TrueNorth Wealth, explains his mission as he leads a team of financial advisors for doctors, surgeons and other high-net-worth clients, helping them build and secure their wealth.
How Did the Journey Start?
It’s not an easy task to lead a company; it requires maturity, wisdom, good judgement and a host of other key characteristics. Joe Griffin worked a variety of jobs over the years, and an array of opportunities converged to bring him to where he is now. He admonishes people to keep challenging and pushing themselves to find the path that works for them, building on the opportunities life offers, working to create opportunities that may not be readily available “today” and making wise choices along the way. “Over time, you have to gauge whether the company, and your position, is a hero or a zero. You have to exercise wise judgment, and be realistic about your situation. Either work hard and wisely to move and grow with the company, or recognize there is no opportunity, and plan accordingly,” shares Joe.
TrueNorth Wealth was founded in 2006 by Marty Watkins with a mission to put its client’s needs above profit. In other words, the fee-only company focuses more on the client’s interest than its revenue. TrueNorth’s compensation structure supports that notion.
The company deals with high-net-worth clients such as doctors, executives, and business owners; helping them with all things financial and tax planning by tailoring individualized strategies for each client. 35 years of serving these high-net-worth individuals and families has produced lots of valuable experience. One of the primary benefits of TrueNorth’s abilities is tax planning. Nearly every high-net-worth client the company serves has benefited tremendously from
TrueNorth’s capacity to jump in and deploy intelligent and ethical strategies that can reduce one’s tax liability. “Based on the amount of tax most of our clients pay, these types of adjustments make a tremendous difference to our clients, who often are paying about 50 cents on the dollar or more in taxes,” Joe says.
Joe attributes TrueNorth’s success to its motto: To ensure that clients and their requirements and needs do not suffer at any cost. When you sign up with TrueNorth, Joe explains, his team makes a point of maintaining transparent communication, and relying on a standardized process that ensures that each component of a clients financial life is reviewed and planned for.
TrueNorth Wealth has a refreshing work environment where every employee is given an opportunity to discuss their point of view. In that environment, employees grow comfortable discussing their problems, opinions, viewpoints and goals. “A respectful and open way of communication can change the dynamics and culture around your office”, Joe shares.
What Products Does TrueNorth Wealth Provide?
TrueNorth Wealth offers complete financial planning and money management strategies. This includes insurance policy review to ensure clients are properly covered, as well as educating high-net-worth individuals about the ebb and flow of the market, guiding them to invest their money in the right place so they remain largely unaffected by market volatility.
How Can the Company Help Doctors/Surgeons?
When asked if there’s anything unique about working with doctors and surgeons, Joe says, “ Physicians have all sorts of insurance policies, and often there are “blind spots” that we can highlight and improve. Combine all of that with intelligent tax planning and academically sound financial planning, and you end up with a level of service that TrueNorth Wealth clients really value! When physicians have a successful financial situation, it is also suitable for society.”
Physicians generally have a more complicated tax bill than most. So, it’s advantageous to have experts on hand offering proper strategy to minimize tax burdens and ensure fair results from all the care and hard work doctors put into their practices. Think of what each client ends up paying in taxes on their last dollars earned! It is not insignificant, and there are intelligent adjustments that high-net-worth individuals can deploy.
If you’re a high-net-worth individual looking for a better way to manage your finances and taxes, connect with TrueNorth Wealth today and get your customized plan.
TrueNorth Wealth’s financial advisors have more than 40 years of combined experience in financial planning, investment advice, and tax counseling services for individuals, corporations, small businesses, estates, trusts, 401(k) pensions and profit sharing plans, and institutional clients.