Many of the most successful advisors start out in a different place than the world in which they practice.
ABOUT Allan Boomerdiscussing the stock market over dinner or reading The Wall Street Journal it was not part of his upbringing. However, hard work and strong family values were the main factors that influenced his formative years.
In high school, Allan joined a corporate internship program that landed him a summer position at Merrill, which changed the trajectory of his life.
After graduating from NYU's Stern School of Business, he landed a job at Goldman Sachs and tapped into his strong work ethic and determination to build his experience and book.
He remembers how his peers had family or friends they could call on to help them build their businesses, but he didn't have the same reach as a young black man in a working-class community.
Allan took several steps of faith over the years, eventually leaving Goldman and most of his book on the table—to become a true believer. Today, Momentum Advisors manages $400 million in assets with 10 employees.
In this episode, Allan shares how that vision drives him with host Louis Diamond and offers a unique perspective on growth, including:
- The factors that led him to leave Goldman – and why he chose independence.
- Being a true loyalist to his clients – and why he couldn't achieve that at the brokerage firm.
- The role of diversity in wealth management – and why he sees it as his “superpower”.
- The value of youth—and how he and his team use it to their advantage.
- Building a “100-year-old business” – and what that means for him, his team and his customers.
Allan's story is relevant and relatable to advisors at all levels, with a perspective on long-term building that all advisors can learn from.