Five years after his introduction to the financial services industry as a college intern, Jared Doty founded his own firm in 2007.
“I wanted to serve my clients the absolute best financial services available and wanted every decision we made together to be based on what solution was the best fit for their financial needs,” Doty says.
Founding The Doty Financial Group LLC was a big dream and a world away from the farm of his childhood. Doty had a simple goal.
“I did not want any bias toward any one insurance or investment company over another. This is not an original idea but unfortunately (is) rare in practice,” he says. “I also did not want to just provide products to clients. I wanted the client to walk out of my office knowing they had the best financial solution for their situation.”
Seven years later, Doty Financial Group is contracted with 33 insurance companies, licensed in five states and provides almost any registered security or investment tool.
“Our net revenue has increased double digits every year since its inception,” Doty says. “In 2008, during the financial crisis, we experienced our worst year and still had 17 percent growth in net revenue.”
After his wife and daughter, Doty says starting his own firm is his most significant accomplishment to date.
“Even in my wildest dreams, I could not have imagined that one day a financial firm would bear my name,” he says. “I joke around the office sometimes that I am the president and the plumber and depending on the day, (I’m) not sure which job is better.”
Doty seeks to share his experience with others. At age 23, he was named the college unit director for Northwestern Mutual’s Springfield office. Having started as an intern himself, Doty wanted to duplicate his experience for the 12 interns he trained, a goal that led to a 92 percent retention rate compared to the industry average of less than 40 percent. All but one intern graduated from the program.
And after a young man with whom Doty had been working for a few years expressed interest in starting his own company, Doty moved into mentor mode.“I walked him through all the intricacies I had to learn for myself, such as incorporating, professional liability, office space, staffing,” Doty says.
Outside the office, Doty volunteers for the Springfield Sertoma Club and Ducks Unlimited. He joined Sertoma in 2004 and has been active in the organization’s fundraising efforts for Boys & Girls Clubs of Springfield. He served on the board for six years and has chaired several committees, including for Sertoma’s largest event, Wingapalooza. Doty also has served on Ducks Unlimited committees for 10 years.[[In-content Ad]]