May 24, 2021
In this episode, Steve talks with Mark Fonville, CEO of Covenant Wealth Advisors in Richmond, Virginia.
In 2010, Mark’s wife Katherine started a wealth management company and in 2018, Mark joined her in the ranks. Since then, they’ve managed to merge without layoffs, revamp their technology, solidify core values, and maintain client trust through a winding road of newfound business ownership and company growth.
Mark began his career in the consulting world. And it was there that he learned the importance of listening to advisors (and people). He’s never afraid to be the “dumbest person in the room” and thrives on absorbing everything around him.
Mark and Steve discuss incorporating tax planning, why core company values determine success, handling a transition in three phases, and the trait Mark admires most in advisors.
“The answer is not always black and white. And when you have a grey area, and I’m not there to help one of our team members make a decision, then the question is, how can they make that decision without support or guidance? And I think without anything else it may be difficult. But when you have values in place that you can fall back on, it just makes it that much easier to carry through with the values that we care about. And if that means that the decision is much more for the benefit of the client than the firm, I would take that every single day.” ~ Mark Fonville