Advisor Spotlight with Bob & Dalton Garrison, Mount Dora, FL

23 May Advisor Spotlight with Bob & Dalton Garrison, Mount Dora, FL

We are pleased to bring you the next installment of the Summit Advisor Spotlight. These interviews aim to demonstrate how advisors have dramatically increased their production by leveraging tools and services provided by Cetera Advisor Networks LLC and Summit Financial Networks.

This edition of Advisor Spotlight features Bob and Dalton Garrison of Garrison Wealth Management, located in Mount Dora, FL. They recently sat down with Josh Gomez, Summit’s Sr. Relationship Manager, and Gordon Jahnig, Summit’s Director of Sales Support. We are grateful to Bob and Dalton for taking time out of their busy day to share their insights. Let’s get started.

JG: Good Afternoon to both of you. We like to start these interviews with an easy question. Can you tell us how you got into the business?

BG: I started my career working for the construction company my family owned. It was expected that I would continue the family legacy, which I did until we sold the company so my parents could retire in 1999. I stayed on with the acquiring company until 2004 when my employment contract expired. At that time, I had the opportunity to continue my employment and relocate to Indianapolis. I didn’t want to leave Florida and that was the catalyst for a career change. In the summer of 2005, I was recruited to join Edward Jones. Their recruiters had been calling me for a while and this seemed like the right time to make that move. 

JG: How did you get on Edward Jones’ radar?

BG: No, no. It’s kind of a convoluted story. The company that acquired our construction company sent an employee to train and the plan was to expand the work we did across the US. In the midst of this, his dad passed away. He was the executor of his father’s estate and as a result spent a significant amount of time with his parent’s Edward Jones advisor who recruited him. He in turn submitted my name as someone who could be successful as an advisor. Jones had been calling me for a while, so in 2005 when they reached out again, and I was making a career transition, the timing was perfect. This was something I always wanted to do, even when we had the construction company. At the construction company, I was doing similar things to what I do now. I would help design the employees 401K, I’d help them crunch the numbers if they were buying a house or a car. So, the transition to doing that in an expanded capacity was a natural one.

JG: Can you tell us the story of how you came to Summit and why you chose to join us?

BG: After a few years with Edward Jones, my life had changed. I now had 2 young children, a mortgage and all the expenses of a young family. I needed to make a change and I joined LPL. I spent a decade there, but I always felt like I was just a number to them. When I would call in for support, no one knew my name. Then I got the call from Rob Crowe inviting me to join Summit. At the time I had been struggling with LPL for 18 months to get Dalton set up as an advisor in my practice.  It was a godsend. I knew Summit’s reputation and took it as a huge honor they were inviting me to join them. I don’t exactly how it happened, but I’m still grateful for the opportunity to be here and we really love the Summit staff.

GJ: We’re glad to have you as a part of Summit. What tools or services offered by Summit and Cetera are you using to add value to your practice?

BG: I love the Summit Mutual Fund Focus List, that’s my favorite thing. Honestly, we use it religiously. By the way Gordon, thank you for putting the mutual fund research list together and updating it on a quarterly basis. Previously at other firms, they would make all the investment decisions and tell you just to present the program. At Summit, we can use the mutual fund research to find the best-in-class funds for each asset class and by doing that, we add value.

Every client has a different story. So, we don’t always stick to an exact formula. People get nervous. Some want to up the cash content in their account or they don’t want to do a traditional 60/40 portfolio and they don’t want an 80/20. One client may be more comfortable with a 70/30 portfolio.

Another example is a client may want to opt out of specific banks in the Cash Sweep program due to the volatility in the banking sector. It’s a fear cycle and there’s always something, some element, some asset class that has issues. That’s the boogeyman.  We have the flexibility to be able to work with our clients to make them happy because at the end of the day, without the clients, we don’t have jobs, none of us.

Another tool that I like is Annuity Rate Watch.  We don’t do a ton of annuities, but I love the fact that I can pick up the phone and call someone like Harlan Wenig at Summit to talk through a potential annuity case. I have great relationships with several people with Summit and lean on them heavily.

JG: Can you give us any insight into what it’s like working with family, why you decided to work together and how clients have reacted?

BG: I can answer first if you’d like and then Dalton, I can leave the room for you to answer if you’d prefer. I’ll just wait to read it. No, it’s been wonderful, and the timing couldn’t have been better. We work really well together. Now in the beginning, some of the clients pushed back because they thought I was about to leave. The clients feel comfortable, and they know they’re in good hands going forward. His mind is a sponge, he’s very bright.  I tell people all the time they’re lucky to have him. There are awkward calls sometimes. A client will call in, someone I’ve worked with for years and instead of talking to me they’ll ask if Dalton is available. He’s built wonderful relationships with our clients, and I am proud of that.

DG: It’s great being able to ask a question about anything, get his guidance, and provide an example I can try to mimic. It’s very beneficial for sure.

BG: We really have a wonderful partnership and I get to spend time with my son every day, which is nice. Plus, I don’t have to ask how his day was, I already know that I made it terrible. (chuckles)

GJ:  I’m sure there are a lot of lessons you want to pass on to Dalton, so that he can continue having the same success you’ve experienced. Is there any one lesson you think is most important for him to learn?

BG: I tell people all the time this industry is built on human relationships. Our clients’ relationships with us are similar to that of their doctor or lawyer. We just do a different thing but it’s the type of relationship that is really uncomfortable to change. We know our clients; they’ve spent many years with us, and we’ve been able to add layer upon layer to the relationship. Life happens for our clients, and some have moved away but they’ve taken us with them. It’s really the biggest testament to what we’ve done here. I’m sure other advisors would say the same thing. Our clients really trust and rely on us for so many things. As an example, I had a client a while ago that wanted to come in to ask me what kind of garden hose to buy. I’m not a hose expert, but she came to me because we have a huge amount of trust. The same client recently got in a car accident. Her first call was to AAA. Her second call was to me. She has a daughter that lives right down the road. I’m like, why don’t you call her first? She says, “I don’t know – you’re the first person that came to mind”. My philosophy has always been if we help them with just their investment accounts and do it well, but we let the rest of the life run them over, then we have failed.  

GJ: Now to the fun questions. This has become one of our favorite questions because the answers are always good. What is your all-time favorite movie and why?

BG: I love Tombstone. I could watch that movie every day. My other favorite is Roadhouse and embarrassingly enough, that’s where my sons name came from. We had a client who every time he would come in would look at Dalton and say, “I thought you’d be bigger.”

DG: Honestly, Monty Python and the Holy Grail.

JG: That’s such a good movie, so many memorable lines.

BG: Yes, there’s a peek into my son’s mind. The twisted part comes from his father, his mother’s a wonderful person. (laughs)

JG: What do you like to spend your time doing when you’re not in the office?

BG: I just moved into a 55+ retirement community, but with a twist, Margaritaville Dayton. I think it’s where the fun old fogies hang out. That’s kind of a boring answer.  Son, you should probably answer you do more fun stuff.

DG: I really like music and I have a pretty considerable record collection at this point. I also really enjoy medieval stuff and take part in the Society for Creative Anachronism.

BG: He’s involved with those activities at Renaissance fairs. It’s armored combat where they’re trying to kill each other with helmets and pads. I’ve inspected his armor very thoroughly to make sure I’m not going to lose my son to this extracurricular activity.

JG: Have you sustained any injuries?

DG: Not yet.

GJ: You mentioned your love of music. What artists or genres of music are you into?

BG: I love music too. I think that’s where Dalton’s love for music came from. I fronted a rock band until a few years ago. We’d play at bike events and bars; it was always a good time. I love the 80s hair bands and just can’t get past them. I could listen to it all day while I’m watching Tombstone.

DG: I really like that too. Lately, I’ve been listening to a lot of Americana stuff; Coulter Wall, Tyler Childers, folks like that.

Bob and Dalton again we want to thank you for taking the time to do this. We’re very happy you joined us and we look forward to supporting your business in however we can.

Bob Garrison and Dalton Garrison – Registered Representatives offering Securities and advisory services through Cetera Advisor Networks LLC, member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Summit Financial Networks is a region of Cetera Advisor Networks LLC, Cetera is affiliated and under separate ownership from any other named entity. 

Branch Address:

2110 North Donnelly Street, Suite 600

Mount Dora, FL 32757