It’s not uncommon for financial firms to niche into one industry or another. This isn’t just a good way to get word-of-mouth referrals shared between work colleagues — it also is a great way to better serve clients. People experience different lifestyles, share different goals, and have unique needs depending on where they started their careers. Having a financial advisor who knows their way around your industry and how to serve you best just makes sense.
But while other advisors found their lane and kept driving — Certified Financial Advisor Kyle Richardson found his place in the jetstream.
Richardson’s firm, Watermark Wealth Strategies, has its roots planted in Arizona’s Aerospace industry. So far, it’s been a pleasant flight.
“We have a lot of families with Southwest,” Richardson explains, “and many others at other aerospace companies, such as Honeywell Engineering. We tend to really connect with Southwest because a lot of those employees have worked there for 20 or 30 years. It’s a family. They seek that same family feeling when it comes to their finances — and it’s just been a magnetic relationship.”
The family spirit and pride that draws professionals into Arizona’s aerospace industry has allowed Watermark to build a true community out of its work.
Richardson and his team credit the close relationships they’ve built with clients to a lineup of regular “Happy Hours” put on monthly. And when we say happy hours, we’re not talking about a stiff wine reception in the waiting room of their office.
It’s a party.
Just looking at the upcoming events hosted on their website, the next Happy Hours will see live performances from Phoenix’s melodic hard rock act “The Hive,” a Street Truck serving tacos and margaritas, and a chili cook-off that won’t end until one recipe is crowned champion.
“We’re always trying to build trust,” Richardson says, “and we do all kinds of crazy things to just develop that relationship. We can tell people what we do, but at the end of the day, we can’t control time — time that we need to build and bridge that trust. That’s a big part of the reason we do all these events. We have food trucks, happy hours, go to Top Golf… all things that give us more time to get to know our clients.”
And while financial plans are one of the last things discussed at these happy hours, which are more about sharing fun and fellowship than anything else, Richardson has been able to learn quite a bit about airplanes.
“The technicians at Southwest and other airlines know mechanical stuff, which is the complete opposite of me. I mean, you don’t want me turning a wrench on an airplane engine. I don’t even know if I own a wrench, to be honest with you.”
And while airline mechanics, engineers, and industry-adjacent professionals have found their place making air travel possible, Watermark focuses on making their financial goals a high-flying reality.
What they lack in wrenches, they make up for in acumen.
Richardson himself has over 25 years of experience in the industry and has successfully completed the Series 7, Series 24, Series 63, Series 65, Series 66, and SIE examinations. He’s shared insights in multiple appearances on CNBC’s Squawk on the Street and on Bloomberg Radio broadcasts.
Under his leadership, Watermark has even earned its place in LPL Financial’s Summit Club for 2024 — which only 1% of the Firm’s financial advisors receive. This gets Watermark access to 24-hour white glove support from LPL’s advisors, which helps Richardson and the team offer even more resources to their clients.
“We have the best team we’ve ever had in place,” Richardson says, “and we’re all extremely proud and happy of this recognition from LPL. They thought highly enough of the practice and where we’re going to be able to offer that award to us.”
And just like it took the Watermark team years of effort to get where they are today, the hardworking families they serve have spent entire careers honing their professions and crafts. As they work towards their retirement and legacy goals, they’re confident that their financial plans are in good hands.
“It’s just an awesome type of relationship,” Richardson says. “They respect what we do. They trust us. We meet their expectations. We share mutual respect.”
While Aerospace will always be a core focus for Watermark, other industries have also welcomed the firm’s community-based approach. Richardson’s team also serves those in microchip/tech, automotive, healthcare, and other industries.
If there’s one thing that aptly defines Watermark’s “niche,” it’s this:
“It truly is a family,” Richardson says. “I don’t know a better way to say it than that. Clients just feel welcome and they know what they’re going to get. Don’t get me wrong — it’s a financial advisor-client relationship — but at the end of the day, it’s so much bigger than that.”
And if you’ve ever competed against your financial advisor in a chili cook-off, you’d know exactly what Kyle Richardson of Watermark Wealth Strategies is talking about.
To see this community-centered firm in action, visit Watermark Wealth Strategies’ website.
