Bill Parrott founded Parrott Wealth Management six years ago and has built his company through expertise and hard work. Today the firm works with clients in fifteen states and is growing at 40% per year, said Parrott, president and CEO.
Parrott took the time to answer a Four Points News Q&A recently.
1) What major business milestones have you accomplished?
I always wanted to own my business, so I took the plunge six years ago and launched my financial planning and investment management firm. It was a leap of faith because I had turned fifty, and my daughter was entering college, but it all worked out.
2) Do you have a turning point in your career to share?
I left banking thirty-plus years ago to become a financial advisor. It was a good call.
3) Can you share about a challenging time and a rewarding time?
As a business owner, a difficult time was the uncertainty surrounding COVID in March 2020 and the following stock market correction. The best part of my job is donating 10% of our firm’s revenue to organizations and nonprofits we support.
4) What is it about financial advising that is most appealing to you? Why are you doing what you do?
I love helping clients plan for the future. We are friends with our clients, and we view our relationship with them as a partnership. In some cases, we are working with our client’s children and grandchildren.
5) What is your most valuable tip to share related to your industry?
I believe the key to success in our business is the financial plan. It helps people quantify their hopes, dreams and fears. It gives them a roadmap for victory; it’s a financial GPS.
6) Your company is growing, what do you attribute that to?
We currently work with clients in fifteen states, and we are growing at 40% per year. Our commitment to service our clients and our strong desire to help them achieve their financial goals are crucial to our growth. Our director of client relationships, Janet Jackson, joined the firm five years ago, and we recently hired Spencer Engelke as a financial advisor.
7) How long have you lived in the Four Points area? What brought you to the area and to Austin? Share about your family too.
I have lived in Four Points for eighteen years. My previous employer, Morgan Stanley, transferred me to Austin to manage the local office. My wife, Tonya, is the Women’s Pastor at Austin Christian Fellowship, and our daughter graduates from Baylor University in May with a master’s degree in social work.