Pure Wealth Partners opened for business on June 22, 2020 in the middle of the COVID-19 pandemic at the old Pure Oil gas station at 200 N. Spring Street in downtown McMinnville.
The partners are Dan Sellers and C.K. Cayce-Taylor. Pure Wealth Partners is a securities and retirement plan consulting business with a full complement of advisory services. Dan and C.K. are the sole owners of this business which has been operating now for over nine months.
Dan and C.K. both are college graduates and have a securities background. Dan graduated from MTSU in 2013 with a bachelor’s degree in accounting and business after completing four years of service with the United States Marine Corps. Dan spent two years with Waddell Reed Securities followed by six years with an Edward Jones office in McMinnville.
C.K. graduated from Hannibal LaGrange University Hannibal, MO in 2013 with a B.S. degree in biology and has her AAMS, CRPC, and CRPS designations. C.K. was with Wells Fargo for four years followed by three years with an Edward Jones office in McMinnville.
Dan is 33, from Murfreesboro, and is into camping and going to Center Hill Lake. C.K. is from Sparta. Dan is single and into camping and going to Center Hill Lake. C.K. is 38, from Sparta, and enjoys running marathons in her free time. Dan has lived in McMinnville for seven years while C.K. moved home three years ago.
Dan and C.K. are renting the Pure Oil station location. Kelley McVay operated the Pure Oil station from the 1932 opening until the 1980s when it was converted into an art gallery. The art gallery was operated until 2004 by the building’s current owners, Dr. Spivey and wife Vicki.
The facility was considered a cottage-style station and featured two bays. There still is a hydraulic lift in the first bay. There is also a warehouse behind the station. Dan & C.K. have extensively remodeled the station to be an attractive business location with a conference room and multiple offices. Also working for the firm is office manager Joy Kinas and marketing & business development officer Sarah Cantrell.
Dan & C.K. are dedicated to growing their business. They are a growing list of clients from seven states with a focus on Tennessee. They estimate that 85% of their business is from Warren County. The firm was begun with a formal business plan and detailed budget.
Dan & C.K. are pleased report they are 115% of their first-year plan in nine months! This has been accomplished without their contacting any Edward Jones customers. They are in the process of raising their business forecast.
Pure Wealth Partners is aligned with LPL Financial, the largest financial institution that supports independent financial advisors. LPL has 17,200 financial analysts on staff and assets of over $1 trillion. LPL features very strong online analytics. LPL would hold any client investments with security thus achieved.
Dan & C.K. accept any client. Typically two client meetings occur with the development of a detailed client plan. Planning is the key to this process.
Dan & C.K. want to take a client from “Point A to Point B” safely and efficiently. Among the software-based planning programs utilized are Money Guide Pro and Risk-Alyze.
By the end of the second client meeting, there is a game plan that considers client goals, retirement plans, estate plans, etc. The firm collaborates with attorneys and CPAs as appropriate through this process. Meetings are held with most clients on a quarterly basis. The client planning profile and asset evaluation are reviewed annually.
Dan & C.K. say their advantage is the offering of objective financial advice through LPL delivered on a very personal basis. The firm charges a flat % fee. No commissions are involved. The firm’s success is totally dependent on client success. There is no inherent conflict of interest. Dan & C.K. spend one-third of their time on researching investments for clients.
The large investment firms tend to promote their own projects/ paper which may not be optimal for clients. Dan & C.K. both enjoy the entrepreneurial environment of their firm where they can act independently with a client’s best interests as the only focus.
Among the financial services rendered by the firm are IRAs, 401k’s, estate plans, and retirement plans. The firm works with individuals as well as companies and corporations. There is a monthly electronic newsletter for clients.
Pure Wealth Partners has been active in advertising in the Southern Standard, with running local radio ads, and has sponsored a number of sports/ball teams. They have a Facebook page. With the pandemic end in site, client training and information programs are anticipated.
Dan continues with being the chair for the Young Professionals and Senior Vice Commander for Veterans of Foreign Wars. Dan is on the board for the Senior Center, Friends of the Greenway, and McMinnville Downtown Revenue Corporation.
C.K. is active with Noon Rotary, Noon Exchange Club, HAWC, and is a board member for the McMinnville-Warren County Chamber of Commerce.
Dan reports that the population in Rutherford County is up to 475,000. Demand for real estate in Warren County is definitely feeling the benefit of this growth. The aging Baby Boomer generation is now swelling the over 65 age group. Need and demand for financial services and retirement planning are at an all-time high.
BRAC congratulates Dan & C.K. for starting Pure Wealth Partners and wish them much success. We hope all their clients attain “pure wealth.”
