Blog

Listen to the Podcast Here: 8. MWM By the Numbers 2022

Life has been busy. It’s been 4 or 5 months since a new blog/podcast/YouTube video has been published by Migration Wealth Management, so I wanted to provide an end of year update on the company. I also thought it would be fun to also provide some updates about what has happened in client’s lives throughout 2022, so I decided to call this episode MWM By the Numbers 2022.

I’ll probably do this again at the end of 2023 because it was cool to see some of the things that I am going to share with you. There’s a chance that I’m missing something in one of the categories I’ll speak about, but I know that the client numbers for the firm are correct since I wrote this January 3, 2023.

We have babies, we have new homes, we have new businesses, and we even have a marriage.

Let’s dive in.

MWM Clients

It’s been an exciting year for the business in 2022. Migration Wealth Management was approved as a Registered Investment Advisor by the state of Indiana on February 25, 2022.

From February until May, I spent time transitioning clients who moved with me to MWM from the firm that I worked for previously. In May, I started taking on new clients.

I was fortunate enough that 11 clients transitioned over with me from the firm that I previously worked for, which provided a great foundation for the business. By the end of 2022, I’m fortunate enough to say that I was serving 26 clients in 5 states. That is a growth rate of almost 2 new clients per month from May through December, which is something that I honestly never expected would have happened.

Promotions & Job Changes

One of the highlights of the year was the number of promotions and job changes among our clients.

Seven clients were promoted at work, and another eight changed employers. I see this as a testament to the hard work and dedication of the type of people that I get to work with, and I’m proud that I have the opportunity to play a role in their lives.

Babies

Another major event for many of our clients was starting a family.

This year, five client households welcomed new babies into the world. Four of these babies were the firstborn in their family, while only one was not. It’s always awesome to see clients growing their families and I’m grateful to get to support them during such a special time as their lives and financial planning needs change.

Moves & Marriage

In addition to starting families, several of our clients also made other significant changes to their personal lives.

Five clients moved to a different state in 2022 with 4 of those moving away from Indiana and one moving back. And one couple even got married (the caveat here is that they got married prior to becoming clients).

New Businesses

Last, but certainly not least, it has been so cool to see three clients start their own businesses in 2022.

While one client already owns multiple other businesses, the two others are first-time business owners. It’s always exciting to see entrepreneurship and innovation, and I’m proud to get to support clients as they take these steps towards creating their own futures.

Looking Forward to 2023

Overall, 2022 has been a year of growth and change for the business and my clients.

I’m extremely humbled by the number of people who have put their faith in me to work alongside them as their financial planner and I hope that every single one of them feels that doing so was a good decision.

I’m looking forward to continuing to serve those who transitioned with me and who became new clients in 2022 as well as those who will become new clients in 2023.