Brooke’s Note: You hear it over and over again. Hitting landmines is not the issue for entrepreneurs. Most do. The issue is how they handle the fallout. Here is a vivid, teeming and real-time example of such a rebound. One detail I like here is the serious Bastille-storming by Concepcion himself in developing centers of influence on behalf of his troops. It just shows that there is business there for the taking by those who are determined enough.
Four years ago, Jeffrey Concepcion was in the battle of his professional life.
Lincoln Financial Advisors Corp. had kicked him out after 23 years, and he was fighting a nasty case under FINRA, the self-regulatory organization for broker-dealers. At the same time, he was starting an advisory firm under LPL Financial, hoping to recruit new advisors, but growth was slow. See: LPL vacuums up yet another $1-billion cluster of mostly RIA assets Alabama-style.
“The challenge was to ramp up the new business and close out the old issues with the prior firm, and launching this firm was tough,” Concepcion says. “The time and energy and resources was a challenge.”