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July 01, 2007 at 04:00 AM
Bill Topkis talks about making the transition from a career in the insurance business to one as a fee-based financial advisor:
“In ’94, when I walked away from Provident Mutual at age 55, and I decided that I was going to make something out of my RIA, I was really flying blind. I didn’t know a helluva lot about financial planning. I had to do all the research and find out about the software and so forth and so on.
“In 1997 my adjusted gross income was $37,000 because I was making the transition from the commission world to the fee world, but I had reserves to do it. I was determined to become a recognized comprehensive financial planner. Year by year I did my strategic planning and it happened.
