David Goar | Forty Under 40 Recipient 2015
“It’s when markets get volatile that having a financial advisor really matters. Unfortunately, most advisors tell their clients to “just stick it out” and wait while the value of their portfolio plummets. By being diligent and embracing new investment strategies, I’m confident I can help my clients stay protected during the next downturn… just like during the last one.” – David Goar
Forty Under 40 Entry Form:
“David started his career in the financial service industry 9 years ago with the wealth management firm UBS in Ogden, Utah. This was at the beginning of one of the worst stock markets downturns our history has seen. He attracted many clients during this time period because of the relationships he built with local business owners and investors. They trusted his down home sense of economics and investing. He developed unique strategies that helped his clients profit during this tumultuous time. In his training class of over 50 financial advisors, David was one of only a handful of trainees who navigated those turbulent market waters and grew his business. He won the rookie of the year award and was awarded many accolades for bringing new clients into the firm and attained the title of Vice President within four years with the company. In fact, David developed more new client relationships than any advisor in the Northwest area. This is mainly due to his strong work ethic and his drive to be successful and never give up. He has seen success at an early age in the business that most take an entire career to attain. He is known to many others in the financial industry in Utah because of his accomplishments in such a short time in the business. He increased his asset base from $0 to $75 million dollars in just 8 short years.
Many of David’s clients would say his tireless work ethic makes him a standout in the industry. His “straight talk” way of dealing with complex financial concerns also assuages client fears about their financial futures. Listening to client’s concerns and ideas is of the utmost importance to David. He also believes that in the investment world, a financial advisor must know the market inside and out. Advisors have to stay abreast of the changing investment landscape. No advisor should ever be content with their investment knowledge.
In 2014, David saw the investment markets were changing. The stock market was at all time highs and many investors were concerned about rising interest rates and the impact it would have in bonds and stocks. David was concerned about the advice most investors were getting to “just stick it out” when markets drop. Because he was concerned for his client’s financial future, David sought out some of the brightest minds in the investment world. He received special training that helped him show his clients that there was a better way than just practicing a “buy and hold approach”. He then worked with each client individually to implement his new strategies. Because of his diligence and true concern for his client’s financial well being, he was able to help them navigate through the recent volatile markets. He is confident that because of the knowledge he has learned and through diligent study of the market, his clients will be protected during the next market downturn.
Through much sacrifice on his part, including time away from his family, and upfront costs of starting a business, David made the decision to move to an independent investment platform. He transitioned his clients from his old firm to his new firm, Research Financial Strategies, in March of 2015. Moving 300+ plus clients is no easy chore, but through David’s tireless leadership, he transitioned them to his new firm to better serve them in their investment needs and prepare his clients for the changing market dynamics. This leadership was shown by his dedication to his clients by providing constant help and 24 hour assistance to them during this transfer process. As proof of his leadership capabilities and because of their faith in his abilities, the majority of David’s clients followed him to his new firm.
David has been involved with the Northern Wasatch Home Builders Association for the last seven years as a volunteer. He has chaired the Social Events committee which is responsible for many of the functions of this non-profit organization, especially the Parade of Homes, the highlight event of the year for home builders. David has helped the nonprofit make investment decisions that increased the Charitable Foundations funds, which have assisted many students with scholarship money at local universities. David has worked closely together with both the finance committee and the charitable foundation committee to ensure proper stewardship of the assets of the organization. Under David’s management, he helped the foundation and association raise $100,000 which allowed the association to fund many new scholarships and serve other local charities. David has worked closely with State Representative Paul Ray, the Executive Officer of the Association to make the Northern Wasatch one of the strongest Homebuilder’s associations in the state. Paul has stated “David’s leadership has drastically improved our association from a financial standpoint”. – Robert Lindquist