Not daunted by his youth, Phil Friedrich started his financial planning practice whilst still in his teens and helping others generate wealth remains his mission.
What’s your story?
At 19 years old I started a financial planning practice. Today I run a practice where we represent clients in 33 states. At the age of 22 I additionally started a rental real estate company. I had my life changed at 21 years old where a mentor of mine asked me the question, “What is the name of your great grandparents?” I had no idea the name of one of my grandparents let alone all of them. From that moment on I have been on a mission to help others create generational wealth.
What excites you most about your industry?
There is so much opportunity and additionally lack of knowledge. Good, sound advice can be hard to come by. We provide unbiased opinions to our clients and make it client focused instead of me focused. Our school system does not do a great job of educating kids on how to create wealth, and it is my mission to help as many people as possible learn how to do that!
What drives you in business to push beyond what other people consider normal?
I have been blessed with parents who had high expectations and I believe that always challenged me to think differently and still helps today. We are all given trials in our life and how we choose to react and how we perceive the challenge is what will dictate how we handle it.
What have been the most useful skills you have learnt and applied in your journey?
How to deal with adversity and how to win friends and influence people. Adversity is inevitable, the longer you let it linger and consume you the more detrimental it can be. The sooner you can acknowledge what has happened and how you will work through the adversity the better off you will be. Additionally surrounding yourself with great people is impactful for mindset and opportunities.
What’s the best piece of advice you ever received?
Blissful dissatisfaction. When you achieve a goal take time to acknowledge the triumph you have accomplished. At the same time do not let celebrating your wins consume you and make you lose your desire to accomplish more. We are given so many opportunities in life and those who write the best stories are the ones who take the most chances.
Who inspires you?
Ed Mylett and Tim Grover are two people that have done amazing things with their lives and careers. They are others focused and are at the pinnacle of their respective fields.
What have you learnt recently that blew you away?
When an obstacle approaches, take the mindset of this is going to be a really good addition to my story. Do not look at it as a set back. No movie is good if it is not filled with difficulties.
If you had your time again, what would you do differently?
How do you unwind?
I love to get a great workout in. I spend time reading my Bible and praying. A patio or rooftop bar for a cocktail. Lastly, spending time with people who enjoy talking about ideas, and problem solving.
What is a major mindset change, belief shift or ‘ah ha’ moment that you’ve experienced in relation to your business?
When you do what you do well everyone benefits.
Everyone in business should read this book:
The One Thing by Gary Keller and Jay Papasan
Shameless plug for your business:
If you feel like you have questions about financial planning, and what is best to do with your money you are not alone. Many of my clients are at the pinnacle in their respective industries. Just because you are in the top 1% of your industry doesn’t mean you should know everything about every industry.
How can people connect with you?
Social Media Links?
This interview is part of the CallumConnects series.