Today we’d like to introduce you to Kyle Roberts.
Hi Kyle, thanks for sharing your story with us. To start, maybe you can tell our readers some of your backstory.
I grew up in a small town in East Texas close to where I work now. I have always had an entrepreneurial mindset and did not have plans on going to a 4-year university, but instead get my associates and follow in my father’s footsteps and eventually go into business for myself. My dad had a little college money set aside for me and I cashed it in shortly after graduating High School and purchase my first rent home. I was working full time at Brookshire’s, attending Trinity Valley Community College, and repairing the rent home I just bought to start my first business in the real estate market. My father was a store manager at Brookshire’s for many years and worked part-time selling real estate. One day, he sat me down and told me he did not want me to follow in his footsteps but rather wanted me to do better than him and it opened my eyes.
Shortly after that conversation, I was enrolled in Texas Tech University, where I attained my bachelor’s in business. The rent home was completed and helped pay my rent while attending school. As I approached graduation, I still had no idea what I wanted to do. I started going to mock interviews to get practice for the real interviews. One of the mock interviews turned into a real interview with a large broker/dealer in Dallas for a financial advisor position. I started with the firm shortly after graduation. I spent two years with the firm building my book or business from scratch. I started with friends and family and eventually worked my way to cold calls and business networking events. One day, I met with a branch manager for a small community bank in Gun Barrel City at a business networking event. I positioned myself as a referral source for the bank and asked that she send business my way from bank customers looking for financial advice.
At that time, she advised that they had a financial advisor that was contracted with them, but she would keep me in mind for future opportunities. Two weeks later, she called my cell phone and said their advisor retired and wanted to interview me for the position. Prior to this call, I had built up my book of business to about $1 million in assets under management. The bank offered me a position with them to manage their existing investment client accounts. A huge opportunity fell into my lap to take over the previous advisor’s book of business. He had built the book of business up to $24 million in assets under management that I was to take over and manage moving forward. I accepted this opportunity, and it accelerated my career by five years. Fast forward seven years later, I have built the existing book to $54 million. I accepted that opportunity, not knowing what life had in store for me. It was by far the best decision I have ever made, and I never looked back. I am working in the community I grew up in, earning five times more income than my previous broker, and wholeheartedly love what I do and could not see myself in any other career.
Alright, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
It has not been a smooth road. In the financial services industry, there is a 17% retention rate for advisors under five years in the business. In my first year in the business, I barely made enough to survive. My second year was better, but not by much and I continued to live paycheck to paycheck. I had gotten to the point where I was running out of family and friends to contact and migrated to more cold calling. Cold calling was the biggest drag on morality and many times, I was on the verge of quitting. This opportunity fell into my lap at the right time and gave me the boost I needed to stick it out. I have had the privilege to continue doing what I love and since I made a move, I have not had to make a single cold call to date.
Thanks – so what else should our readers know about First State Financial Services?
I run the investment program for First State Bank of Athens, but clear though one of the largest independent broker/dealers in the world. I am not bound by any particular companies, services or products. I customize and implement financial plans for individuals and businesses. I build and manage portfolios customized to my client’s specific needs and invest assets in a wide variety of investment firms. Undeniable transparency is my competitive advantage over my competitors. Every investment vehicle has pros and cons and it’s my job to assure my clients know what these are. I provide many different options that I feel would fit my client’s specific needs and approach every recommendation with a simple question. “What would I do in your shoes?”
Can you talk to us a bit about the role of luck?
I will say in my life, hard work plays the largest role, but luck (both good and bad) has a huge factor in the outcome of where I am today. My mom and dad have always told me we are plagued by the “Roberts Curse,” where bad luck hits the Roberts family during the most inopportune time. It has taught me that no one can prevent bad luck from coming, but rather how you deal with that luck makes all the difference. I never consider hard times as “bad luck”… It’s just luck. It has given me the ability to assess the situation and make quick, decisive actions that provide solutions to the Roberts Curse. It has helped me identify multiple perspectives and multiple avenues to every scenario that Roberts comes across. Good luck played the largest role in the timing with my career opportunity that untimely changed my life forever. The bad luck is just speed bumps along the way.
Contact Info:
- Email: kyle.roberts@lpl.com
- Website: www.fsbathens.com/investments
- Facebook: https://www.facebook.com/executive22
- Twitter: https://twitter.com/FS_Finances
