Tom Arconti, CFP®

Tom Arconti, CFP®

“There’s no question that the start-up materials and support provided by the Network allowed me to get my business up and running in a few months’ time, rather than what could have been the better part of a year on my own.”

Tom Arconti, CFP® is the founder and principal of Arconti Financial Advisors, a Fee-Only planning firm located in Danbury, Connecticut. Tom transitioned into the financial services profession with a year-long program at Morgan Stanley. While there, he served in the dual capacity as a Registered Representative and an Investment Adviser Representative.  Prior to starting his own firm, Tom worked with a Fee-Only practitioner in Massachusetts where he found his “home” in holistic, comprehensive Fee-Only planning and investment management.

We recently interviewed Tom regarding his experiences as a Fee-Only financial planner and Garrett member since February 2007.

Why did you decide to open your firm under the hourly, Fee-Only business model and why did you decide to join the Network?
Like so many others, I entered this profession as a “mid-life” career changer, coming out of the corporate world. At the time of my transition, my wife and I had temporarily moved from Connecticut to Massachusetts. Searching for a way to get started, I signed on with a major wirehouse and quickly learned that was not the fit for me. My first exposure to the Fee-Only model came when I engaged Garrett member Tom Sturiale to do a portfolio review for me (still own most of the Vanguard funds he recommended… thanks Tom).  A bit later on, I met Garrett member Neil Collins through the Financial Planning Association and eventually worked with (mostly learned from) him for nearly a year.  It was during this time that I knew I “found a home” in the Garrett model. Besides enjoying the client work with Neil, I got to know several other Network members in the Massachusetts group and was impressed with them all. When I moved back home in 2007, there was no question but to become the 2^nd Garrett member (at the time) in Connecticut. I’ve since been pleased and proud to find that my experience in Massachusetts was not an exception, but rather an introduction to the same high caliber and integrity of Network members all across the nation.

How was your business startup supported by the Garrett Planning Network?
Immeasurably.  There’s no question that the start-up materials and support provided by the Network allowed me to get my business up and running in a few months’ time, rather than what could have been the better part of a year on my own. I utilized all of the resources available – including sample forms/documents, webinars, the Garrett Knowledge Bank, Garrett Retreats and advice from Garrett coaches and my peers.

What are the 3 greatest benefits of membership?

1. Start-up resources – Quality continuing education opportunities and peer support throughout the membership.

2. Brand association – The Garrett Planning Network is well-regarded throughout the nation as a trusted place to find an advisor.

3. Friendships – Beyond the generous sharing of knowledge on a professional level, I truly appreciate the friendships that have evolved from my participation in this Network.

Do you have staff or outsource anything?

I do not have staff or currently outsource any ongoing administrative functions. It’s worked out well so far, but I recognize that I am coming close to needing additional help, most likely in the form of outsourcing or a virtual assistant.

What are your short and long term goals for your business?

Short term, I would like to step up my use of technology in my practice. I typically print out a lot of paper and I think many clients would be happy to have the presentation done on a PC or tablet, and receive back-up materials in digital format.  Long term, I would like to increase the number of annual retainer clients I serve. I really enjoy the ongoing relationships with clients and the satisfaction that comes with helping to shape, manage and improve the financial aspects of their family life.

What session are you most looking forward to at the upcoming Garrett Retreat?

I always enjoy the various “best practices” type of sessions that occur throughout Retreat. I find we can continually learn from one another and invariably someone comes up with a clever or creative new way to approach a subject or deliver a message. I also like member panel discussions to gain differing perspectives and things that may or may not work in our practices.

Tom enjoys a wide range of water activities like boating, skiing, kayaking and scuba diving. In cooler months he bikes, hikes and plays some ice hockey. Tom and his wife Sally have a large extended family and they thoroughly enjoy being involved in their lives, especially now as their nieces and nephews bloom into young adults. Some occasional travel, good food and wine with friends, and fulfilling second careers makes for an all-around good life for Tom.