In Step with a Winner

This Four Under Forty Award recipient has found success by doing what he says he will do and providing his clients with the highest level of service.

NAIFA member, Gregory K. Large, CLU, ChFC, CLTC, has done quite well for himself since winning Advisor Today’s Four Under Forty Award several years ago. He is now Managing Partner of Lenox Advisors, Inc., a wealth-management firm with custom solutions that integrate the financial needs of high-net-worth individuals, their families, and corporate clients.

We recently caught up with Large, who shared some of the challenges he encountered early in his career, how he managed to overcome those challenges, and some helpful hints for moving to the top.

Advisor Today: What motivated you to work in this industry?

Gregory Large: My motivation was twofold. The opportunity to work in an industry in which your reward reflects your efforts was important to me. But, more importantly, I wanted to have a better understanding of what my family didn’t have. I lost my father when I was 17-years-old, which left our family to deal with a difficult financial position, while also dealing with the loss. I wanted to understand what the industry was capable of so that I could help other families avoid what I went through myself.

AT: What were some of the biggest obstacles you faced initially?

Large: The biggest obstacle I faced initially was the plain, simple fact that there was inconsistent income in the early years. I had to work two jobs and use my credit card as financing in certain months when it was difficult for me to close business. Those early years were really a struggle. But that challenge created a foundation of appreciation in me and drove my fiscal responsibility, which would eventually lead me to make smart decisions in my career and planning for the future.

AT: Did these obstacles ever make you consider leaving the industry? If so, was there a turning point that inspired you to stay?

Large: Yes, absolutely. There were difficult times in the early years. I would wake up some nights thinking: “I should just get a job and a consistent paycheck.”

A memorable turning point was when one of my colleagues, a mentor to me, was diagnosed with Lymphoma. I saw him suffer for over 15 months before eventually succumbing. That experience changed my outlook. It made me really appreciate the positive impact our industry can have and how important our role can, and should be, in helping individuals be responsible and take care of themselves and the people they love.

AT: What additional knowledge have you gained since winning the Four Under Forty Award?

Large: I’ve gained significant experience in navigating the complexity and challenges of growing a business.

I’ve learned how important it is to surround yourself with people who are equally motivated and smarter than you are. Your experience and the people around you will ensure you can build and grow your practice the way you want, and be able to enjoy the fruits of your success together.

AT: Why is being a NAIFA member important to you?

Large: It’s important that we give back, and support each other and our industry. My NAIFA membership provided me with that support when I was just getting started, and it’s important that we each pay that forward.

Our industry is constantly scrutinized and criticized. NAIFA helps ensure that we have a platform together to communicate and demonstrate our positive role and impactful responsibility. Together, we are able to share our best practices and best ideas to better run our businesses and care for our clients.

NAIFA also provides representation at a national level to ensure that our industry and unique value propositions are not negatively impacted by legislative change.

AT: What do you value the most when working with a client?

Large: I value the relationship. I value each client’s trust. I truly appreciate listening to my client and being given the opportunity to care for them, their families and their future. The act of recommending financial solutions is important, but it’s secondary to being an advisor and simply listening to my clients.

AT: What do your clients say is your greatest strength?

Large: My clients point out my consistency—the consistent act of doing what I say, following through, and providing the best level of service and advice that I can.

AT: Any advice for young advisors just starting out?

Large: Know that your practice has to have an equal focus on service and sales, not just sales. They are equally important. Don’t miss that opportunity. It will serve you and your clients well and lead to deeper, more prosperous, relationships with clients over your working relationship.