From the May 2010 issue of Investment Advisor • Subscribe!

May 1, 2010

Case Study: Don Hurd

Don Hurd (not his real name) is a top-performing advisor who works for a wirehouse, and is based in a large metropolitan area in the southwest United States. Prior to joining the financial services industry, he was in the military.

Don has a strong work ethic. In his early years as an advisor, he contacted everyone he knew. One of these individuals was Will Destiny, a business broker who had been a colleague of Don's father when they worked together in the energy industry. Don discovered that Mr. Destiny was not an easy sell. Geographically, 900 miles separates them. Ultimately, Mr. Destiny opened an account with Don because he respected his work ethic and military background.

Within a few months of beginning the relationship with Don, Mr. Destiny brokered a $10 million+ deal in the energy industry. At the conclusion of the deal, Mr. Destiny turned to the seller and inquired as to what he intended to do with the funds. Not getting a conclusive answer, Mr. Destiny volunteered that he had been talking to his advisor the other day (i.e. Don Hurd) about municipal bonds.

One thing led to another, and Mr. Destiny introduced the seller to Don Hurd. In the words of Mr. Destiny, "I care about my clients, and I need to know that they are taken care of."

Following a long-distance courtship for a few months, Don Hurd drove 1,000 miles to meet the seller and his wife. After a 6-hour meeting that included dinner, Don returned home with signed paperwork, and a commitment to manage at least half of the $10 million. (Don won out over the local bank, as well as a highly-regarded money manager.)

Don has learned that he can create his own community. In a very encouraging development, Will Destiny, the business broker, has introduced Don to three other entrepreneurs in the energy industry. In the near future, Don has plans to attend some upcoming energy conferences to further extend his toehold in a thriving industry.

Coaching Question: What communities are out there for you to connect with? What are you doing to build these connections?

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