Marvin Mitchell was attending law school in Texas when his grandmother, Betty, was diagnosed with stage 3 cancer. He delayed his education and returned home to St. Louis to help care for her. Although Mitchell says the decision to focus on his family was a no-brainer, interrupting his education wasn’t easy. Mitchell was the first in his family to earn a college degree and was working toward lifting himself and his family out of difficult financial circumstances.
During her illness, Betty expressed that her worst fear was being a financial burden to her family. The stock market crash and a loss of her long-term care insurance intensified her financial worries. Mitchell’s family came together to help her.
“Although we never felt burdened, the fact that my grandma believed she was a burden toward the end of her life hurt me a lot,” says Mitchell.
His grandmother’s situation prompted Mitchell to study how he could help other people in similar circumstances. He eventually decided to start his own practice, Compass Retirement Solutions, and he has been in the business for 10 years. Mitchell logged $12 million in annuity production, $3 million in money under management and $250,000 in first-year life insurance premiums in 2015.
Mitchell built his practice on family-first values that extend to both his clients and employees. “I have a strong belief that employers should treat their staff like their very best client,” says Mitchell. “If the staff is happy and content with their job, it typically reflects to the clients.”
Mitchell also invests himself in his community, as evidenced by honors he has received, including most recently the 2016 Legacy Award from the St. Louis County NAACP chapter, recognizing commitment to community involvement.