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Meyer Financial Group is a Thibodaux-based Ameriprise Financial Services wealth advisory firm focused on service and community.
Thomas Meyer started the company in 1998 with no experience as a financial advisor or running a business. He said there was a lot of fear of going into the unknown, but he was certain the business fit his personal goals.
“I always had a desire to own my own business, but at the same time I always knew that I wanted to be in a business where I could help people and build relationships with people. So this was a great mesh between the two things I wanted in life.”
When he first started out, Meyer was the sole proprietor, handling all client work and doing all the administrative work. While trying to wear every hat in an office, he had to go out and expand his client base.
“It was difficult. Anytime you’re starting off in a business from ground zero, there’s certain sacrifices and things that you go through as far as trying to build a client base.”
According to Meyer, he faced the challenges by telling himself failure was not an option. He said that whatever rejection he faced would be okay because he was certain this was a career he would be doing for the rest of his life. Meyer said his company had a strong first year and he was Ameriprise’s top advisor in the country among those in his peer group. That early success led to early revenues that he could use to build his team and improve his ability to work with clients on their financial futures.
“That helped me tremendously because I had the resources at that time then to add people to the team who could help me to make sure that we were servicing our clients as they deserve to be serviced,” Meyer said.
Meyer pointed to that team, featuring six other financial advisors and a marketing manager, as a critical factor in the company’s wellbeing. Meyer said all of his team is firmly established with the company. Meyer’s team includes associate advisors Kylie Kern (18 years), Lloyd Kern (13 years), Lynna Marcel (13 years), David Ponson (11 years), John Meyer (four years) and Chris Callahan (two years). Amy Hebert is the marketing manager with 12 years.
“The intent is to bring in people to the team who understand the vision and embrace the vision and don’t leave. They’re satisfied with what we’re doing,” Meyer said.
Meyer said the current sluggish economy in the Bayou Region due to the oil glut has not hit the balance book of his company. While the downturn has largely avoided his business’s money, it still has an affect on the MFG team because of what they hear from those in the community they have built relationships with. They hear stories of businesses having to cut costs and workers being laid off staring at an uncertain future. Meyer said those stories take a toll at Meyer Financial Group.
“It certainly affects our psyche because our area has always grown with oil and gas, and it’s a huge part of what we do. So we just keep praying that things come back, people can get back to work, companies can start building their business back.”
Meyer, in his 20th year operating out of Thibodaux, said the key to a sustainable wealth advisory firm is to keep things in perspective. When the market is high, one must not get too high, and when a bear market rears its head one cannot be dragged down with it. That steady hand combines with an insatiable desire to help clients find financial security to make a recipe for success, according to Meyer.
“That’s got to be the main purpose, the purpose has to be to help your clients reach their financial goals,” Meyer said. “If you’re doing that, they will refer you to friends and family who need that same type of service.”
