A conversation with Larry Boggs, the Founder and President of Boggs & Company Wealth Management
After 45 years at Wells Fargo and their predecessors, Larry Boggs left the wirehouse to build independent firm Boggs & Company with a team that includes 3 of his daughters. Larry discusses the value of family, legacy, business ownership, autonomy, and more.
About this episode…
This is one of those great family business stories.
Over 45 years at Wells Fargo and their predecessors, Larry Boggs built an extraordinary business managing $1.3B in assets.
Yet in 2021, Larry made the decision to leave Wells and launch independent firm Boggs & Company Wealth Management.
But why after more than four decades with the wirehouse?
Because, as Larry shares, he decided it was time to run the business on his own terms and serve clients as he and his team saw fit—that is, “like family.”
And family is one thing Larry knows a lot about: His 12-member team includes three of his daughters.
Plus, Larry saw the handwriting on the wall. That is, that the industry was evolving, and it became obvious they needed to update their approach to the business.
And like many others who opt for independence, Larry was craving greater control and flexibility for now and in the future.
So what does that future look like for Larry Boggs and his team? In this episode, Louis Diamond asks Larry that question and many more, including:
- The motivation to make the leap after 45 years—and how his next gen influenced the decision-making process.
- Changes Larry observed over the years at Wells—and how that influenced the choice to go independent over other options.
- His extensive due diligence process (15+ firms!)—and why they ultimately chose to launch Boggs & Company with supported independence platform LPL Strategic Wealth Services.
- Their expanded ability to support clients in independence—and how removing the constraints of a larger firm agenda is impacting service.
- The things that intrigued him about becoming a business owner—and why legacy proved to be one of the most important factors.
- Considerations around succession and retirement—and how they are able to plan for that in independence.
Larry’s perspective is an important one for advisors who are reflecting on their abilities to serve clients—not only now but well into the future.
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Founder & President
With over 45 years of financial services experience, Larry is the Founder and President of Boggs & Company Wealth Management. Prior to becoming independent in 2021, he was consistently recognized as a top advisor having received several internal accolades through Wells Fargo’s formally Wachovia’s internal advisor award recognition programs. Most notably, this includes receiving Wachovia’s lifetime achievement award, the “Wachovia Way Award” in 2006. In addition to internal recognition, Larry has been honored by some of the most respectable financial reporting institutions in the country. Barron’s recognized Larry with “Best-in-State Advisor”, from 2007 – 2021 and “Top 100 Financial Advisors” from 2005-2006. Forbes recognized Larry as a “Best-in-State Wealth Advisor” from 2018-2021 and The Financial Times named Larry in their “Top 400 Financial Advisors” in 2016 and 2017.
Away from the office, Larry is the Chairman of the Investment Committee for the Endowment Fund and the operating fund for the University System of Maryland Foundation Board, a member of the Western Maryland Health Systems Foundation Board, and the Treasurer of The League supporting special needs children. Larry was named Frostburg State University’s Alumnus of the Year and was recognized with their “Service to Alma Mater” award in 2019. He was the recipient of the “Allegany County of Chambers Community Service Award” in 2018, and most recently was inducted into his high school’s hall of fame. On a more personal note, Larry and his wife Debbie have been married for over 45 years. They have three daughters, Mirjhana, Dagenais, and Koosie, and they are fortunate to have all of them as part of the Boggs & Co. team. They also have three wonderful grandsons that keep them busy with baseball tournaments, football games, and swim meets.