Pop Quiz, Monday with Michael Loftus, Founder of Loftus Wealth Strategies and Loftus Coaching &…


The Pop Quiz, Monday is a fun little exam that we love to give to savvy business people. The examination is not a surprise after all since the interviewee already knew about the questions in advance. However, we can always pretend and have fun with the scenario of a young entrepreneur sitting in class nervously biting on their pencil. They are ready to take a pop quiz on a chapter that they were supposed to read the night before. Instead, they played Metroid all night on their SNES (Oops, this was me in high school). The real purpose of the pop quiz is that this is a fun way to introduce business tips from real-world experiences that you cannot learn in a classroom. We want to thank our interviewee for being a good sport and volunteering their time to answer a few questions to help our community grow from their knowledge.

I want to introduce you to our guest today who will be taking our Pop Quiz Monday.

Can you please tell everyone your name?

Michael P. Loftus

What is your job role?

Founder — Wealth Strategist — Loftus Wealth Strategies
Founder — Coaching & Consulting — Loftus Coaching & Consulting

Tell us about your company?

Loftus Wealth Strategies was founded in 2010 after many years of working on the Institutional side of the business. We started with and stuck with the idea of serving no more than 100 Households, this despite many telling me it can’t be done. Although difficult in the beginning, we stuck to our ideals and now had 70 households that we serve. This allows us to offer high-level Client experience through communication and videos that we regularly produce.

Loftus Coaching came about from my Institutional experience of running large organizations. Specifically, it was about creating business plans, marketing plans, and budgets and running this like a business from day one. Also from my experience, we started our marketing in-house, After finding that many of the tools offered to financial advisors have become very commoditized. From this today we serve several firms in handling all their marketing, social media video production, etc.

What do you love most about your job?

I love the fact that every day brings a new challenge whether through the markets, working with individual client issues or learning how to better Market our organization.

Every Sunday I declare it as a learning day. I’ll spend several hours looking at new ideas and tools to bring better efficiencies with my firm or ideas on how to better market ourselves and the firms that we serve

What motivates you to get up every day and go to work?

I could say it’s the fact that my first started at Villanova this year and I have two more to follow within the next three years. College is not inexpensive!

The truth is I love what I do, and I’m motivated every day. I enjoy working with my clients. I love the challenges and the fact that I have been able to grow each and every day.

How do your co-workers inspire you?

Coming from the corporate side of the financial world, to starting your own business it is very different. Specifically, I now have the responsibility of five employees. However, like then and now, I challenge everybody to get better at their jobs, whether it be through courses, online learning, etc. If they’re willing to take the time and commitment, I should as well.

How do you have fun at work (team building, pranks, etc..)?

My setup is a little bit different, with three employees here in Delaware, one in North Carolina and one in Nashville. Twice a year I will bring in our out-of-state employees, and we’ll have dinners, boat rides, time at the beach. Of course, it’s nice to live in a beach community, to be able to offer this to my employees.

One of my employees was my executive assistant when I was in corporate, and she always mentions how much calmer I have gotten. I think it’s important as the leader of the organization show that I’m not all business and serious all the time

What are some of the challenges of your job?

I don’t think it’s different from any other small business owners, how do you grow, how do you stand out in a crowded marketplace and how do you do all of that without breaking the bank.

It was much easier when I was on the corporate side of things, using the corporate credit card. Now it’s my money, my investment, so you have to be much more mindful of how you spend. Let me be clear though, and It is imperative to spend money to make money. So every weekly staff meeting I asked what do you need to be more efficient and better at your job.

What are some lessons learned from a past project that you can share with us?

We are continually trying to put new marketing ideas in place, specifically as it pertains to social media. We have run ads, pushed ideas in our videos, ways to drive traffic to our website. However, we have found that although we’re getting the hits, we’re not getting names, addresses or people calling the way we had hoped for.

What we found is that when people came to our website, they saw us a boutique firm serving a small number of people, with a higher minimum than the most in the area. Because of this we have changed and created landing pages away from the website, specific to campaigns to try and get younger investors and or insurance prospects.

What advice would you give to someone who is starting in your industry?

Coming from the institutional side and with my experience of running large organizations, I thought I could get up and running rather quickly. That just wasn’t the case I had to go through all the bumps and struggles that everyone else does.

Although you might hear of overnight successes, It’s about having a plan, staying organized and attacking that plan. It is not an overnight success, and it takes patience and the ability and willingness to grind.

Thank you for taking our pop quiz today. You get an A+ for effort. You can learn more about our interviewee and their business by visiting them on the web:





Author: Ricky Singh, MBA

Editor of The Startup Growth.

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