TCI Scottsdale: A Journey of Connections and Growth

Most people remember 2008 for the housing collapse that triggered the Great Recession. It’s hard to forget. For me, though, 2008 also marks the start of an exciting new chapter in TCI’s history. Despite the challenging beginning, the story has a happy ending.

Before embarking on this journey, I had spent 11 years at Charles Schwab as a business consultant to Registered Investment Advisory firms across Arizona, Utah, Nevada and Colorado. In my role, mergers and acquisitions were common discussion topics with my clients. Two clients in different states stood out because of their similar approaches to wealth management and complementary personalities. As fate would have it, both Douglas L. Nelson, CPA, PFS from AQN Advisors in Reno, Nevada, and Bob Swift from TCI Financial Planning in Tucson, Arizona, had similar ambitions to expand into the Scottsdale market.

A Merger in the Making

During 2007, I had independent discussions with Doug and Bob about their aspirations for growth and interest in mergers. Recognizing their shared vision and complementary strengths, I introduced them. Conversation ensued, and in late 2007, they decided they could positively impact more clients if they worked together and developed specific plans to merge and subsequently plan to open a Scottsdale office. At that time, my role evolved from consultant to a key player in this merger, ultimately leading to my departure from Schwab to join the newly combined firm as a partner in 2008 and opening the Scottsdale office for the newly combined TCI Wealth Advisors.

Taking Control of My Career

Leaving Schwab was a significant decision, one that I had put a lot of thought into over many years. The seed was originally planted early in my career by my then-boss and mentor, who believed I would enjoy being a Shareholder and Advisor of a RIA. Fast forward more than a decade later, and I found myself ready to take more control over my professional life. At the large corporation, I had started to feel like a hamster on a flywheel, with limited influence over my destiny. The opportunity to have more independence, provide clients with service tailored to their needs, and be able to help shape and grow a firm was too appealing to pass up.

It Started as Two

In March 2008, TCI’s Scottsdale location was officially open. Trisa Summers, who had been working with Doug in Reno, joined me later that summer. We started with just the two of us in a small executive suite, with no brand recognition and no clients.

Our strategy in those early days was to leverage existing relationships with other RIAs, who were my former clients and to serve the business they deemed too small or complex. We also utilized my relationship with Schwab by participating within their Schwab Advisor Network referral program, working alongside many of my former colleagues.

“Keep telling your story”

The timing of our launch couldn’t have been worse. Just a year after opening the Scottsdale office, the market crashed, the Dow plummeting from 14,000 to 6,000 within a year.

It was a period of intense stress and uncertainty, but the support from my partners was unwavering. Bob’s advice was to “keep telling your story”. That became my mantra. It took longer than we planned, but over time, we built trust within the Scottsdale community. We nurtured meaningful relationships with estate planning attorneys, CPAs, and tax attorneys by showing what we were capable of and that we survived. They witnessed the level of service we were providing to clients and realized our small but mighty office was going to succeed, and with that they began to trust us with their client referrals.

Gaining Momentum

In 2016, the merger with Moss Booth brought even more growth, as Bill Moss and Lori Booth-Houle integrated their practice into TCI. Like the original merger between Doug’s and Bob’s firms, this merger was driven by shared values, investment philosophies and commitment to caring for clients. Subsequently, both Bill and Lori have retired and we are grateful to have retained a majority of their clients and continue to serve them in the same manner as Bill and Lori did during their careers.

Nurturing the Next Generation of Advisor

It is hard to imagine that I am approaching close to 30 years within this industry and with that my focus is evolving. While I am still committed to helping my clients achieve their financial goals, I am also beginning to mentor and guide the next generation of Advisors who are the future of TCI. Introducing them to my clients and professional network will only help build their experience and reputation. This is crucial for not only their own professional growth, but also the firm’s ongoing success as well as our clients’ experiences.

Creating a Sustainable Model

The success of TCI is deeply personal to me. Today, TCI is one of the largest independent RIA firms in Scottsdale, as well as Arizona, and it is a distinction I am deeply proud to have played a part in. Even though the firm is well established, the vision remains the same: to ensure that TCI is a 100-year firm, a company that will be around for our clients today but also for their children and grandchildren into the future.

Looking back, the story of TCI in Scottsdale is a testament to the power of connections and the belief of a shared vision. From starting at one of the lowest points in modern U.S. economic history to positively impacting the financial trajectories of hundreds of clients, TCI’s growth in Scottsdale has been fueled by strong relationships while providing clients with exceptional service. As we move forward, I am confident that the firm will continue to thrive, driven by the next generation with the solid foundation we have built