Mar 01, 2021
By Tim Terry, Founder of Terry Lockridge & Dunn and World Trend Financial
The year was 1991 and it was the second call from a client in as many days. The same issue: “Why was I recommending them to invest in variable annuities?". After assuring them I was not, I placed a call to the bank which had acquired the investment firm. I was quickly connected with the President of the bank. After a brief introduction, I explained to him we did not promote variable annuities and requested they not solicit any of my clients. With whiplash speed, he corrected me and said they were his clients, not mine. I cradled the phone and quickly called my brother Kevin in Washington, D.C. Within weeks, a new company, World Trend Financial, was up and running.
Establishing a truly independent securities firm is not something for the faint of heart. You are subject to all the regulatory rules and are like a guppy in an ocean of large firms. However, it was the one way I could ensure the integrity of our practice. It allowed us to remain true to our mission of putting the client first.
I am pleased that thirty years later, nothing has changed.