By Deborah Bostock-Kelley
From an early age, Financial Advisor Adam Parks discovered that he had a passion for understanding how money worked and for helping people. As there were no classes available in school, he consumed books and Audiobooks about the economy and investing. He felt compelled to help his family and friends, who, in turn, encouraged him to do what he loved for a living. He became a Financial Advisor.
“I was like Alex P. Keaton from Family Ties. Always interested in the world of finance. I knew that if I wanted to get the things that I wanted in life and one day provide for a family, I would need to learn as much as I could. I always found it to be frustrating and challenging that schools did not teach financial literacy in school. The will teach you algebra, where studies show only 5% will ever use, and yet 100% of us use money, and there is nothing. When I got into college while taking economics classes and learning how things move, I really caught the bug of investing. After the stock market crashed in 2008, I got even deeper into the industry and started learning things from a new perspective. I needed to share what I know and teach.”
After years of working in high-pressure financial sales in Illinois, Adam decided he was going to create a company that was as an alternative to the ‘big box’ firms he worked for and the antithesis of his past experience.
“I always wanted a long term relationship built on trust, and some firms want a transactional relationship based on fees. I just always believed that it’s the connection with the client that was the most important part of the interaction.”
Relocating to Tampa with his wife and two daughters in 2015, Adam founded Trinity Wealth Management Group to give his customers a completely different type of financial advising firm.
“I didn’t like the aggressive, hard sales pitch that some of these other firms did. I always believed that the interaction with the client was the most important part, not necessarily what I sold them.”
Adam polled his existing clients to survey what they wanted in their ideal relationship with their financial planner. Their answer was good technology, fee transparency, and a Fiduciary—someone to look out for their best interest.
“Our firm was built for the client by the client. They shared, we listened, and then we built it. I adopted the best technology available and the Fiduciary standard.”
Based on that thought process, Adam obtained his Accredited Investment Fiduciary designation.
“My clients wanted somebody legally bound to work in their best interest. It’s my job to find the most suitable investments without regard to compensation,” he said. “It’s never high-pressure. It’s about teaching the clients. We want to empower them with the right tools and knowledge to know what they own, why they own it, and how it makes in their longterm financial plan. We give our customers a level of confidence that they might not otherwise have when it comes to investment management and their retirement plan,” he said. “We built a new kind of Financial Planning firm built by for the client by the client.
Adam explained that typically clients come to Trinity Wealth Management Group for three reasons. Their lack of knowledge, time, or, sometimes, the lack of desire to manage their investments.
“My focus is one of both protection and service. I like to think that I got my business acumen from my father, also an entrepreneur, and the nurturing, caring, and protection side from my mother. Doing a great job for my clients is my first priority, and having a good relationship with them is equally important.”
In addition to founding his education-based financial planning firm, Adam is an instructor at the University of South Florida (USF) teaching retirement income planning.
“I teach people how making small changes to their habits can make a difference in their overall life.”
Adam explained that when many people ponder leveling the risk when diversifying their portfolio, they think about the amount of stock and bonds needed, not tax implications.
“We pay close attention to and put a lot of focus on taxes,” he said. “Taxes will take more out of your portfolio than the markets ever will.”
401Ks and IRAs are both tax-deferred. Eventually, when the money comes out, so does the taxes.
“We try to have a diversification from a tax standpoint. Approaching your investment from a tax perspective makes all the difference,” he explained. “You diversify your portfolio for risk and taxes.”
Not only is Adam passionate about helping his financial planning clients, but he’s also equally as giving when helping his community. Adam finds himself hosting events he calls, feel-good fundraisers. He’s shaved his head ten years in a row to raise money for St. Baldrick’s, a childhood cancer research foundation and supported Blessings in a Backpack, a childhood hunger eradication program that provides food in a backpack to children in need.
Adam said what enjoys most about founding his financial planning company is simply helping people prepare for the future and retirement.
“I always enjoyed teaching and coaching, so this is my passion and my purpose coming together.”
To learn more about Trinity Wealth Management Group or to schedule an appointment (available via Zoom during Covid-19) with Adam and his team, visit https://www.trinitywmg.com.
Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, a Registered Investment Advisor. Trinity Wealth Management Group and Cambridge are not affiliated.