May 9, 2023

Ep. 33: Crafting And Growing Your Own Firm As An Independent Advisor with David Koren

As an independent advisor, you shouldn’t fear growth. You should invest in it!

In this episode, Shannon Spotswood interviews the Founder of RVA Wealth Management, David Koren, MBA, ChFC®, CLU® about his advice for advisors considering independence, the importance of taking risks and investing in your business, and the 10-3-1 rule. He also discusses the benefits of crafting your own firm and succession planning, as well as incorporating philanthropy into the client experience.

David discusses:

  • His advice for other advisors who are either in a captive environment thinking about independence or are independent but want more control and independence
  • Why he decided now is the time to grow even bigger and invest more into marketing
  • Why entrepreneurs can’t expect to build a large and thriving practice without taking risks and investing in their business
  • What the 10-3-1 rule is and why it has become a lost art
  • The perk of being able to craft your own firm and  retire when you decide to as an independent advisor
  • Where he is on his succession plan journey and how he came to realize that he needs to get serious about it
  • How to incorporate giving back to the community as an active part of your client experience
  • What he thinks the industry will look like in the next five to ten years
  • And more!

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About our Guest:

As founder and retirement planning specialist at RVA Wealth Management, David focuses on asset protection and growth, helping his clients to manage income flow and enjoy their retirement years. David has worked in the financial services industry in one way or another for over 35 years, starting out as an agent for a national life insurance company while still an undergraduate at Virginia Tech.

Over his long career – which has included working as an executive for insurance companies, brokerage operations, an internet healthcare startup, and now an independent wealth management firm – David has always focused on education. He considers teaching to be his calling and enjoys educating people on personal finance. David teaches financial education classes in the Richmond area and also offers more in-depth workshops at the office to further explore areas of client interest.

David considers all of his clients as family and strives to grow and protect their assets in everything he does. David and his wife Robbie have two children.  They have a strong focus on family and both believe exercising and staying healthy play an important role in family life.