A conversation with Evan Mayer – Founder and CEO of Fortuna Wealth
Overview
Evan Mayer started in the bank channel and, over time, came to the realization that he could do more to support his clients and grow the business in the independent model. Evan proved that by growing more than 3x in just 4 years.
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NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation.
About this episode…
Every advisor has a turning point in their career.
It can be a passive event, such as when they are presented with an option and need to determine which path to take.
Or a more proactive one, such as seeing the proverbial handwriting on the wall and realizing it’s a sign that they may need to make a change.
For Evan Mayer, there were several such moments. And as he shares, “All things happen for a reason.”
He started in the Bank channel, intending to transition to a financial advisor role someday. Yet time passed, and he was offered the option of becoming a bank manager for Bank of America. So he had a decision to make: Stay the course or take the path.
Yet as fate would have it, an advisor position became available, and he stayed with the bank, BankAtlantic, until the next juncture. That came in 2012 when Evan transitioned to SunTrust, which became Truist after a merger with BB&T in 2019, one of the biggest bank acquisitions of its time.
“That was a lightbulb moment,” Evan said.
Driven to do more for his clients but limited by the bank model, Evan wanted to be able to share educational information and market to clients and prospects freely.
Taking a proactive stance, he explored his options. Evan decided to launch Fortuna Wealth in Boca Raton, FL with Raymond James, and he hasn’t looked back since—perhaps only to recognize he’s grown his business from $180mm in assets under management in 2019 to over $600mm today as an independent firm.
Evan shares his incredible journey with Louis, including:
- The key differences between working in a bank channel and being an independent advisor—and how the different features of each influenced his business.
- The secrets behind his extraordinary growth—and what he could do in independence that he could not in the bank channel.
- The process of transitioning from a bank model to an independent practice at Raymond James—and what impact he saw on portability.
- The ability to market creatively—and how having a popular podcast drives his bottom line.
- Life as a CEO—and how it differs from being an employee.
Many Advisors get their start in the bank channel and find a pathway to growth. But for some, the model becomes too limiting. For Evan, it was a realization that changed his business life: He was missing out on the things he could do for his clients and the business. But by making a change, Evan could do everything he wanted and then some.
It’s an episode that reminds us to be aware of the messages around us—they often hold the key to finding our best business lives.
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Evan Mayer
CEO
As the founder and CEO of Fortuna Wealth and a financial advisor with Raymond James, Evan applies his 20-plus years of industry experience to provide his clients with customized, holistic financial planning geared toward their unique lives and goals.
Evan focuses on guiding clients through all of life’s phases, from implementing investment strategies designed to address their long-term goals to their day-to-day needs in retirement or on their way to retirement. To provide clients with the best possible support as they pursue their long- and short-term goals, Evan follows a disciplined process of assessing each client’s financial picture, determining their risk tolerance, and then building and executing an investment plan designed to align with their specific needs. As they move forward, he regularly monitors their plans and periodically meets with them to review their portfolios, assess their goals, and makes adjustments whenever necessary to help ensure they remain on track to achieving their objectives.
Evan is a Certified Financial Planner™ professional, showing his dedication to meeting the CFP Board’s continuous education requirements and practicing with high ethical standards. A distinguished advisor, Evan is also a Chartered Retirement Planning Counselor℠ and a Certified Wealth Strategist.
Another testament to Evan’s knowledge and hard work, Evan was named to the 2023 edition of the Forbes list of Top Best-in-State Wealth Advisors. Evan was also named to Advisor Hub’s Top 50 Solo Practitioners List in 2022. Additionally, Bank Investment Consultant magazine named him in their Top 100 Bank Advisors annual listing in 2016, 2017 and 2018* prior to Evan going independent. Prior to joining Raymond James in 2019, Evan served as senior vice president and financial advisor with The Mayer Group at SunTrust Investment Services.
Evan is a native of Coral Springs, Florida, and a graduate of Bellevue University. He loves spending time with his wife Lauren, their two daughters Bryce and Dylan as well as their son Hunter. Evan makes it a point to squeeze in a round of golf whenever possible. He is also active in his community through fundraisers, education, and social causes.
† The Forbes Top Wealth Advisors Best-In-State 2023 ranking, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. This ranking is based upon the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 39,007 nominations, 7,321 advisors received the award. This ranking is not indicative of an advisor’s future performance, is not an endorsement, and may not be representative of individual clients’ experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/lists/best-in-state-wealth-advisors/?sh=181ba856ab97 for more info.
Bank Investment Consultant:: To compile the list, multiple variables were combined into one composite score. The six categories used are: (1) assets under management; (2) trailing-12 month production; (3) percentage increase in AUM from the previous year; (4) percentage increase in T-12 production; (5) amount of fee business; and (6) the ratio of production-per-AUM. (Note: 2018 AUM was defined as the amount an advisor had as of Aug. 31, 2018. Likewise, for T-12 production, the 12-month period ending Aug. 31, 2018 was used.) The nominees were ranked by each of the six categories and then six different scores were calculated based on where they ranked. Those six scores were used to compile the final list. The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of an advisor’s future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award/rating. BIC is not affiliated with Raymond James.
The 2022 AdvisorHub 50 Solo Practice Advisors to Watch ranking is as of 6/23/2022 and based on an algorithm of criteria, focused on three key areas: Scope of practice as measured by assets, production and level of service, Year-Over-Year Growth, and Professionalism & Character. The rankings weigh the scores in Scope of Practice and Growth more heavily than other areas. Advisors considered have a minimum of seven years’ experience, a compliance record with no more than 3 complaints, and must have been with their current firm since 1/1/2020. Out of approximately 560 total nominations received and 117 in this category, 50 advisors received the award. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. This ranking is not indicative of advisor’s future performance, is not an endorsement, and may not be representative of individual clients’ experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with AdvisorHub.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, Certified Financial Planner™, CFP Logo Flame Design and CFP Logo Plaque Design in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
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This post first appeared on Perspectives For Financial Advisors From Diamond Consultants, please read the originial post: here
