Guerdon Ely, Ely Prudent Portfolios
Anna Nelson, Mosaic Financial Solutions
A Unique Legacy: Father and Daughter Advisors Own Different Financial Firms
Working together in a family business — when building a legacy — is not always the default for adult children. This father/daughter advisor team and their story is a little different. This month, we’re taking a look at Guerdon Ely and Anna Nelson, of Ely Prudent Portfolios and Mosaic Financial Solutions, respectively. That’s right, Anna and her father don’t work together. Guerdon has his own business and Anna has hers.
Guerdon Accomplished More Than He Ever Thought He Would
“My plan was never to be an entrepreneur or business owner.” ~Guerdon Ely
Early in Guerdon’s career, the company he worked for went bankrupt. At this point in his career, he had several mentors encourage him to pursue financial planning. So he busied himself building portfolios and more — for more than 40 years now. Anna always admired her dad for creating a business while taking care of his family. “When I was growing up, I always thought dad was in the CIA because he always wore a suit and worked somewhere else outside of our home,” Anna jokes. But Guerdon is indeed Anna’s mentor and she benefits from the knowledge passed on to her by her father.
Guerdon says, “For parents looking for an exit strategy, your children may not be your best option. Know that handing your business to your children is not an obligation. But if their passion is in it and they have a proven track record to make it in this industry, cheers to them.”
Anna Took a Non-Traditional Path to Her Financial Planning Legacy
She spent time in resort management and learned a lot about that industry. But when circumstances changed in her career, she saw an opportunity to pivot. She realized there were ways to learn inside and outside the financial industry. And best of all, Anna got the opportunity to watch what her mentor, dad, was doing. Anna worked for another advisor when she started her new career, and then her husband’s job took their family to another state. Unexpectedly, her new group of friends would ask her about investments. From there, Mosaic was born.
Through these experiences, Anna found her guideposts in financial planning:
- Help other people make good decisions
- Take care of clients and the rest will take care of itself
Anna is excited about work every day because she knows she is not alone. She has her dad’s wealth of knowledge and expertise to draw from and is so grateful for it. And, she says, she has Integrated. They ensure Guerdon and Anna focus on what means the most to them, their clients.
Building a Legacy They Can Both Be Proud Of
Early on, Anna realized how she worked was different than the way her dad worked and they agreed she should define and operate under her brand instead of working together in the business Guerdon had created. In fact, the way Anna operates her business resonates with Guerdon’s clients’ children, so if they are looking for an advisor, he refers them to Anna. They are leaving a legacy for their own family as well as their client’s families.
At Integrated, we are honored that they are two of our advisor partners. The years to come for their businesses will be fruitful because of Guerdon’s hard work and the knowledge he instilled in his daughter. They are a case study for making a family business work inside and outside of the financial services industry. And Anna is ready and willing for the challenge. Just ask her clients.