Then & Now: Cole finds success at Signature Financial institution

Editor’s Word: The next story appeared within the Nov. 21 problem of the Northwest Arkansas Enterprise Journal. “Then & Now” is a profile of a previous member of the Enterprise Journal’s Forty Beneath 40 class.

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Brian Cole, president of Signature Personal Wealth Administration, has led the funding division of Signature Financial institution of Arkansas since beginning it from scratch in 2006.

In 2002, Cole managed the funding and belief division for Arvest Financial institution in Fayetteville when the Northwest Arkansas Enterprise Journal named him to the Forty Beneath 40 class.

Cole left Arvest to begin Signature Financial institution’s funding division one 12 months after Gary Head, president and CEO of Arvest’s Fayetteville market, began Signature Financial institution.

“We opened a Raymond James workplace for Signature Financial institution again in Might of 2006,” he stated. “On the time, it was simply my assistant, who got here with me from Arvest, and me. We’ve got six monetary advisers, together with myself, and we handle $500 million in belongings.”

Most of these belongings are managed for Northwest Arkansas shoppers, however the workplace has shoppers nationwide, from California to South Carolina. It has about 1,700 accounts and manages belongings for about 700 households. Complete revenues have risen to greater than $3 million yearly.

Alongside along with his position as president of Signature Personal Wealth Administration, Cole serves shoppers as a monetary adviser and is the department supervisor for the Raymond James workplace. He oversees 5 advisers and a gross sales assistant and manages the recruiting and compliance for the workplace.

“We’ve got a novel setup right here to most brokerage workplaces in that our group capabilities extra as a group,” he stated. “We’re not a gaggle of funding advisers competing in opposition to one another for enterprise. We perform as a group, which gives a greater various for the shopper as a result of they’re not simply getting one particular person’s opinion about what they need to do with their investments.”

A number of advisers can present recommendation to shoppers, they usually can communicate to anybody on the group, he stated. Every shopper has a key adviser with whom they work, however the advisers assist one another with their shoppers.

Cole’s workplace is on the Signature Financial institution location in Fayetteville, and Signature Personal Wealth Administration additionally has workplaces on the financial institution’s areas in Bentonville, Rogers and Springdale. It has plans to open workplaces on the financial institution’s new areas in Harrison and Jonesboro. He additionally desires an workplace at Signature Financial institution’s bilingual financial institution, Banco Sí.

“I believe that’s going to be an incredible alternative for the financial institution,” he stated. “It could be an enormous alternative for our group as nicely.”

Earlier than becoming a member of the monetary companies trade, Cole was an legal professional for six years. He spent the primary two years after incomes his regulation diploma as a deputy prosecuting legal professional for Benton County and was in non-public apply after that.

He stated he dealt with property planning and had good shoppers, together with a financial institution, however wasn’t having fun with the work. He joined the financial institution after its president requested him to return on board following the departure of the particular person managing its belief division. He earned his securities licenses in early 2002 and developed an curiosity in managing cash.

“Once I had the chance to depart Arvest and begin the funding division for Signature, it appeared just like the factor to do,” he stated. “With out query, the very best profession choice I ever made.”

He was grateful to Head, who employed him at Arvest and Signature banks, for having belief and confidence in Cole. With out Head, Cole stated he probably wouldn’t have taken these alternatives.

“I really feel very fortunate to nonetheless work with him every day,” he stated. “He and I workplace very shut collectively right here within the financial institution.”

Cole, 54, stated his background as an legal professional has helped with property planning and chatting with shoppers about wills and trusts. Advisers coordinate with shoppers’ attorneys to finish the paperwork, and Cole stated he’s concerned within the course of from starting to finish.

Whereas he now not practices as an legal professional, he maintains his Arkansas regulation license.

After reaching the $500 million mark earlier this 12 months, he stated his subsequent massive purpose is to succeed in $1 billion in belongings underneath administration.

Cole and his spouse, Missy, have 5 youngsters. An avid golfer, he stated his eldest performs golf professionally, whereas the second oldest performs in school.