Today we’d like to introduce you to Abe Loper.
Hi Abe, so excited to have you with us today. What can you tell us about your story?
So, my story, like so many others, isn’t a direct path from “point A” to “point B”. It starts in nonprofit work, moves to economic development, higher education, and eventually to entrepreneurship where I owned restaurants and a real estate investment company. A little over a decade ago I was invited by my financial advisor to join him in his practice and the opportunity, as well as the challenge, appealed to me. As a family man with a wife and two children, it was incredibly difficult to make ends meet when I first got started. When you’re new to financial planning, people aren’t eager to trust you will their life savings. (Imagine that!) Now, in my 11th year, I’ve had time to grow in my ability to serve my clients well, create a brand, establish a track record of success for my clients, and really find a groove in the industry. Loper Financial (LoperFinancial.com) now has three physical offices, one in Lynchburg, one in Moneta in the Smith Mountain Lake community, and our newest office in Williamsburg, where an existing team of advisors has joined our practice. We’re attracting advisors, and clients, who are relationship-focused and care about giving back to their community. We’re members and sponsors of the Chamber of Commerce in each of the communities where we have offices, give to dozens of charities, and especially enjoy volunteering and giving to veterans organizations such as the National Center for Healthy Veterans, where I teach a 12 week financial perspectives class, and to the American Legion. I’ve even started (with other business leaders) a “small but mighty” organization called Mission10 (Mission10VA.org) that encourages individuals to give just $10 a month to veterans causes. With enough support, together we can make a big difference for local veterans.
Would you say it’s been a smooth road, and if not what are some of the biggest challenges you’ve faced along the way?
Over time, the road has gotten smoother, but I don’t know if owning and running a business ever gets easy. Early on, the biggest struggles had to do with how I was going to meet new people and offer my services to them. Essentially, how in the world was I going to find new clients? Now, that’s not a problem. We receive referrals from clients who have become cheerleaders on a regular basis. The challenges I face today have more to do with finding time to mentor and serve the advisors who work with me while also providing the highest level of service and dedication to my clients, and continuing to grow the business. Managing a business requires a daily juggling act that consists of time management, ongoing growth and education, and doing everything you can to surprise and delight your clients while you do your best to appeal to new prospects, all while remembering that your family and your community are the true backbone of what makes you successful.
Thanks – so what else should our readers know about Loper Financial?
Loper Financial is an award-winning fiduciary wealth management firm. We serve our clients by walking with them through life’s financial decisions, whether that’s retirement, an inheritance, investing the assets from the sale of a property, planning for wealth transfer and estate considerations, or working with them to reduce their tax burden. We bring a big-picture, long-term mindset and don’t get “cute” with client assets. We’re not a firm that’s going to call anyone with “hot tips” on IPOs or penny stocks. Our clients tend to be families who have assets that they want to protect and grow over time. Whether we’re discussing mutual funds, ETFs, or structured products, we keep our client’s relationships, personality type, risk tolerance, and goals at the forefront of our recommendations, ensuring that we don’t take on any more risk than is necessary and appropriate for each family.
We’re known for our unusually high level of personal attention and service. We are not a volume firm. Right now, I serve fewer than 100 families. If they need me to meet with them on a Saturday morning or Friday evening, there’s a good chance I’m going to accommodate that need. If they require monthly calls and updates, they get it. When our clients need something from an investment partner such as Russell Investments, T. Rowe Price, or any of the other hundreds of partners we work with, they don’t call a 1-800 number, they call me and I dial the direct line of my contact at that firm. The ability to be the go-to hub for our clients, simplifying their financial life, is a big part of what we do.
As far as what I’m most proud of, I think I’m equally proud of three things.
1) I love that we’ve been able to give so much back to our community. There are so many incredible organizations doing wonderful things down the street and around the corner. We want to be part of those good works.
2) In the last two years I’ve completed certificate programs through Columbia University (Holistic Financial Coaching) and the Wharton school at University of Pennsylvania (Wealth Planning Fiduciary) that have made me better at what I do. I’m a voracious reader and love to learn, so these educational accomplishments mean a lot to me.
3) I’m incredibly proud of the fact that my clients and I tend to become friends. They learn quickly that I’m on their team and that I’ll happily go above and beyond to serve them and their family. In a world where real, in-person, relationships have become harder to find, it’s easy to get along with people who apply their skill for your benefit and prove their loyalty.
Any big plans?
Right now, we’re planning a cross-town move in our Moneta market, and we’ve recently begun an informal partnership with a team of analysts educated at Wharton who take a very academic approach to investing. This partnership will allow us to review client accounts, and even the accounts of families not yet clients, to identify any inefficiencies and areas of opportunity. This is exciting and we expect it to allow us to serve more clients better. Other than that, I’d actually like to take some time to find a groove and let things settle now that our Williamsburg office is up and running. Maybe in the future there could be a 4th office somewhere. Maybe there are more team members to be added. The one thing I know is that I’m focused on being present and engaged with my current clients and their goals.
Contact Info:
- Website: https://loperfinancial.com
- LinkedIn: https://www.linkedin.com/company/loper-financial
