Scott Hanson and Pat McClain started their careers as employees of an insurance giant that simply sold proprietary investment products. Immediately dismayed by this short-view approach to business, they both dreamt of creating something new.
Chatting over the walls of their cubicles one day, they found they shared a vision. Over time, their musings led to a concept, which led to conversations… which gave rise to a meeting.
Lists were comprised, values expressed and goals identified. Be different. Give back to the community. Be unique. Emphasize the needs of the clients. Have fun. Make it the kind of place where people love to come to work.
In 1993, Hanson and McClain quit their jobs and formed a formal partnership as two aspiring entrepreneurs with important things in common.
It wasn’t easy, building something from scratch. They told one another to remember that the “hard” is often what makes the “great”.
Hanson McClain Advisors Top Five Tips For Success
1. A business is a marriage. Look for people who share your vision and your values.
2. Make it practical. What needs in your community and your market will you and your business meet?
3. Always tie your success to your clients’ success.
4. Build a company that you yourself would want to work for.
5. Never stop refining or creating new dreams.
Hanson McClain gathered momentum. The duo attended conferences and enhanced their reputations. They began to make a difference, and men and women with decades of investment and management experience started asking for their opinions. Clients not only arrived, but overwhelmingly, they stayed.
Halfway through 1995, Hanson McClain launched the “Money Matters” radio program. Their listenership grew rapidly as the show became a local sensation. People were hungry for a resource. There was never a shortage of callers, and their questions ran the gamut,: people with complex investment portfolios, individuals worried about the taxman and those needing a single, big financial question answered immediately. Hanson and McClain realize they are providing advice to people who will, in all likelihood, never become clients of their firm.
They feel it’s one of the most important things they do.
22 years later, Hanson McClain Advisor’s accomplishments include:
- 20 years of Money Matters
- Sacramento’s KFBK and San Francisco’s KGO radio
- Client-focused investment fiduciaries
- Company-wide community involvement
- Salvation Army’s Man of the Year
- Chairman of the Board for the Sacramento Food Bank
- Invest in Others Community Involvement Award for 2014
- More than $2 billion in assets under advisement
- Nine years on Barron’s list of the Top 100 Independent Advisors.
Where will it go from here? What’s next? How will Hanson McClain continue to grow and improve?
A shared dream will lead to a concept, which will be followed by a conversation, which will result … in a meeting. There will be laughter. There will be hard questions. Lists will be comprised, values expressed and goals identified. It’s 2015, and slowly, the dream of two professionals begins to evolve yet again.
Scott Hanson and Pat McClain. Hanson McClain Advisors. “Money Matters”.
Just. Getting. Started.
Barron’s Disclosure: *August 2011, 2012, 2013, 2014 & 2015. Barron’s© magazine is a trademark of Dow Jones L.P. The ranking reflects the volume of assets overseen by the advisors and their teams, revenues generated for the firm and the quality of the advisors’ practices.