After building a successful wealth management business himself, Shaun Stimpson now manages and advises wealth managers.
There needs to be a strong sense of trust between someone and the individual who advises them on their finances and investments. Financial advisers endear themselves to their clients, gaining their whole trust, and often becoming personal friends. But who advises the advisers?
Shaun Stimpson does.
Stimpson, who is a 2005 finance graduate, is now the Business Development Manager at Morgan Stanley in Portland, ME, where he manages a team of financial advisers, helping advisers get their businesses off the ground or take them to the next level. The same level of trust money managers forge with their clients, Stimpson forms with the advisers he works with.
“Yesterday, a financial advisor called me to tell me that he really appreciated the help I’ve been giving him regarding his practice, and he felt I genuinely cared about him and his business — which is something he hasn’t felt in a long time,” says Stimpson, who was in the Honors Program while studying at Suffolk. “That made me feel really good about what I do every day.”
From his time at Suffolk, Stimpson identifies two main takeaways that have brought him success both as a financial adviser and as a manager to financial advisers: the ability to work with people from different backgrounds, formed from Suffolk’s diversity; and the realization that when a professional steps out of his or her comfort zone, good things will happen. He says both of these virtues contributed to his building of a successful wealth management business upon graduation.
“I had a tiny network of people within the financial services community, and by doing things I at first wasn’t comfortable doing like meeting people at networking events, reaching out directly to alumni, and meeting people at other types of events at the school, I was able to build a solid network,” he says.