Today we are interviewing Eric Vander Drift and Crystal Arredondo.
Eric and Crystal, please share your story with us. How did MPACT Financial Group get to where it is today?
It is exciting and notable how we came together in a short period. There are eight equity partners in Team MPACT. We were all operating independently as financial advisors and felt like there were many negative aspects of the financial industry. We wanted to create a structure that eliminates as much of these negatives as possible. Think CarMax in the auto industry. Our vision was to build a company that delivers financial advice driven by what is in the best interest of the client. The core values that we felt were required to provide this are integrity, performance, efficiency, and service. We began operating in a team mode from the beginning. It required a high level of trust and informal agreements to get started and we all took a significant risk on each other. After seven years of working together in this way, there has been evolution and more formality, but we are still functioning with the same essential elements that we started with. Also, we have been recognized as one of the Fastest Growing Private Companies on the Inc 500/5000 (2013, 2015).
We’re always bombarded by how great it is to pursue your passion, etc. – but we’ve spoken with enough people to know that it’s not always easy. Overall, would you say things have been easy for you?
Our unique structure brings its own set of obstacles and challenges. A company typically has a clear organizational structure with a tiered level of management. We operate more as a team than an organization. Along with being a financial advisor, each team member is an equity partner and also has a role in how we run our business. For example, we have functional responsibilities such as operations, technology, business development, and marketing. The advantage of operating this way is that everyone is vested in the success of our business.
By operating in our areas of strength, we are extremely aware that we can only succeed with everyone putting forth their best effort. This collaboration creates synergy, and we perform better for it. Our group is made up of different individuals with strong personalities that must work together, support each other and trust each other. We often get asked, “How do you create this?” The reality is that’s it is difficult to find eight compatible and complimentary people to work together toward a shared vision. We are fortunate to have found it, and we intend to keep this balance as we continue to grow.
We’d love to hear more about your business.
MPACT Financial Group is a financial planning firm based in Dallas, TX. We focus on wealth management, asset protection, and comprehensive planning for select individuals.
We develop customized strategies to help our clients navigate through the three major phases of life: wealth accumulation, distribution in retirement and transfer to future generations.
The structure of our company allows us to provide these services uniquely. Most financial planning firms operate similarly to a law firm where individuals share expenses but work independently in providing services to their clients. We run more like a Mayo Clinic. By functioning as a team with multiple specialists, we can take advantage of the combined intellectual capital of all of our partners for the benefit of our clients. What distinguishes us is our culture of collaboration.
Contact Info:
- Address: 12222 Merit Drive, Suite 1180
Dallas, TX 75251 - Website: mpactfinancial.com
- Phone: 972-726-5900
- Email: TeamMPACT@mpactfinancial.com
- Facebook: https://www.facebook.com/MPACTFinancial
Image Credits:
Eric Vander Drift, CFS®, MSM
John Farris, CFS®
Raegan Arrington, NSSA
Crystal Arredondo, MBA
Vatsal Assar, CPA
Kim Tillinghast
Philip Strunk, CFP®, CPA
Karthik Muraliraj, RMA®
Team MPACT
Securities and advisory services offered through Commonwealth Financial Network®, member FINRA/SIPC, a Registered Investment Adviser.
Getting in touch: VoyageDallas is built on recommendations from the community; it’s how we uncover hidden gems, so if you know someone who deserves recognition please let us know here.
