Today, we're sitting down with Randy Larson, a respected financial advisor and the founder of 25 Financial in St. Louis. Known for his dedication to helping families achieve their financial goals, Randy combines his expertise in financial services with a profound commitment to philanthropy. His approach to financial advice is grounded in a belief in the power of community support and empowerment.
In this exclusive interview, Randy shares his thoughts on career challenges, industry trends, and the importance of maintaining a healthy work-life balance, along with valuable insights into how his values shape his business decisions.
How do you stay inspired and motivated during challenging times?
I stay inspired and motivated during challenging times by focusing on my faith and the bigger picture. I remind myself that I'm not in control of everything but can control my attitude and efforts. Leaning on scripture for guidance and wisdom gives me a sense of perspective and peace. Additionally, I maintain my daily routines, including morning devotionals with my family, cold plunges, and exercise, which help keep me grounded and energized. By focusing on my faith, family, and well-being, I'm able to navigate difficulties without losing sight of what's truly important.
What's one trend that really excites you in the financial industry?
A trend that really excites me is the growing emphasis on work-life balance and holistic well-being in the financial industry. This aligns perfectly with our philosophy at 25 Financial, where we encourage our clients and team members to enjoy "more life"—the metaphorical 25th hour of the day. It's exciting to see more professionals recognizing the importance of balancing financial success with personal fulfillment and family time. More people are starting to understand that wealth isn't just about money; it's about living a fulfilling life, which is a concept I try to instill in both my clients and colleagues.
What are some of the biggest challenges facing your business today?
Some of the biggest challenges facing our business today include keeping up with rapidly changing regulations in the financial industry, adapting to new technologies while maintaining a personal touch with our clients, and helping our clients navigate increasingly complex financial landscapes. Additionally, there's always the challenge of educating clients about the importance of long-term financial planning in a world that often prioritizes short-term gains. Striking a balance between leveraging technology for efficiency and maintaining the human element in our relationships with clients is an ongoing challenge, but it's one we're committed to overcoming.
Where do you think your industry will be in 5 or 10 years?
In 5 to 10 years, I believe our industry will see an even greater integration of technology in financial planning, but with a renewed focus on personalized, human-centric advice. We'll likely see more emphasis on holistic financial wellness, including areas like mental health and work-life balance. I also anticipate a shift toward more transparent fee structures and a continued emphasis on fiduciary responsibility. The demand for advisors who prioritize their clients' overall well-being, not just their financial portfolios, will grow, and I'm excited to be part of that change.
What advice would you give to someone seeking a career in your industry?
To someone seeking a career in our industry, I would advise them to focus on building strong relationships and always prioritize their clients' best interests. It's crucial to continually educate yourself, not just about financial products and strategies but also about the human aspects of money management. Develop a niche or specialized knowledge that sets you apart. Most importantly, align your career with your personal values and always strive to make a positive impact in your clients' lives. The financial industry is evolving, and having a clear sense of purpose and ethical responsibility will set you apart from the rest.
If you were to start again, what would you do differently?
I have lots of regrets but don’t live in regret. God took my mistakes and turned them for good in my life but I would change a lot of things from the past. I might advise my younger self to find a better work-life balance earlier in my career rather than waiting until I felt overwhelmed to make that change. Early on, it's easy to get caught up in the drive for success, but it's crucial to remember that long-term success and happiness come from balancing professional ambitions with personal fulfillment.
Why is St. Louis a great place to live and work?
St. Louis is a great place to live and work because of its strong sense of community, rich cultural heritage, and diverse economic opportunities. It offers a perfect blend of urban amenities and suburban comfort, making it an ideal place for families. The city's robust financial sector, coupled with its affordable cost of living, makes it an excellent location for both established professionals and those just starting their careers. St. Louis has a unique culture of collaboration and support, which makes it a nurturing environment for businesses like 25 Financial to grow and serve our clients effectively.
What single project or task would you consider your most significant career accomplishment?
The trust that I now hold with my clients through personal relationships and faithful fiduciary responsibility is my highest achievement. My clients trust me and I take that seriously and it was hard-earned. Second would be my decision to step away from the business in 2017 to establish 25 Financial, which better aligns with my personal values and allows me to serve clients while maintaining a healthy work-life balance. Building a firm that truly reflects my commitment to integrity, service, and family has been incredibly rewarding.
Do you have any hobbies or interests? How do you like to spend your free time?
In my free time, I enjoy spending quality time with my wife and five children. I'm passionate about physical fitness and maintain a regular exercise routine. I also dedicate time to studying scripture and leading a men's ministry group. Additionally, my wife and I are involved in various community service activities and charitable organizations. My hobbies and interests reflect the values I uphold in my professional life—faith, family, and service to others.
Can you share a quote that you've found particularly meaningful or inspiring?
A quote that I find particularly meaningful is from the book of Ecclesiastes: "In the day of prosperity be joyful, and in the day of adversity consider: God has made the one as well as the other." This reminds me to find joy in good times but also to maintain perspective and faith during challenging periods, understanding that both are part of life's journey. It serves as a reminder to remain grateful and grounded, no matter the circumstances.
Randy Larson offers insights and a unique perspective on the financial planning industry, blending professional expertise with personal values. His approach to balancing career success with family life and community involvement serves as an inspiration to both aspiring and established financial planners. By focusing on faith, family, and the well-being of his clients, Randy Larson has built a career that reflects his dedication to living a life of purpose. We thank Randy for sharing his time and wisdom in this interview.
