This LPL advisor embraces the flexibility to build his practice his way

For veteran financial professional Eloy de la Garza, more than two decades of business achievements are summed up in personal terms. “Success to me is being able to spend quality time with my family. That’s how I define it,” he said. 

Since 1999, the LPL Financial senior wealth advisor has struck a rewarding balance of work and home life. This isn’t the evolution or reworking of priorities. Since he was young, Eloy’s maintained a focused personal and professional drive; one borne of a self-awareness that’s propelled him to the place he’s always wanted to be.

“I wanted to become a financial advisor because it was an opportunity to really make a difference and help people,” Eloy said.  It’s the kind of answer that might seem rehearsed, but that thought quickly dissipates when you see the earnestness in his eyes, and learn his story.

“That's something in my background, I spent a lot of time looking at careers in areas where I could help people. I was involved in various social causes and programs, and developed a desire to help other people prosper and reach their financial goals,” Eloy said. 

Just after graduating from the University of Texas, Eloy pursued the well-trodden path of the wirehouse industry, jumping from one big firm to another over the course of a decade. The work provided him with a solid foundation of wealth management, but little in terms of personal or professional satisfaction.

“We were very limited in who we could be. We weren't able to truly be fiduciaries for our clientele in the way that I am now. There were so many limitations created by a very stifling environment, where I began second-guessing decision making, and whether our actions were in the best interests of our clients. Not to mention, our technology was limiting in how we could contact clients or customize reports for them,” Eloy said. 

“LPL gives me more support than I’ve ever had at a wirehouse. If I have a question, and need more expertise on a specific topic, there’s always the ability to get someone with the answer that I need, and that’s amazing.”

 – Eloy de la Garza 

Transitioning to LPL

Growing restless with his limited autonomy, Eloy decided to join LPL. “It gave me the ability to build the practice I wanted. Instead of being restricted on whom I could bring in, based on their asset level, I could truly work with people I wanted to work with,” he said. 

The move wasn’t made without reservations. While limited in how he could operate his business at the wirehouses, Eloy appreciated their robust support systems. “I was leaving behind an operations team, sales assistant, and support staff,” he said.

Any doubts Eloy may have had about transitioning to LPL were quickly dispelled. “I was floored at how much support we actually had. “In fact, LPL gives me more support than I’ve ever had at a wirehouse. If I have a question, and need more expertise on a specific topic, there’s always the ability to get someone with the answer that I need, and that’s amazing,” he said.

The Tech Advantage

Eloy credits LPL’s exceptional support to a top-down commitment to service excellence, along with an enthusiastic embrace of technology. “One of the ways I'm able to deepen my relationships is through technology, and it floors me how LPL provides such an incredible opportunity for me to deepen my relationship with my clients,” he said.

MyRepChat is one of Eloy’s go-to tools. The ability for him to text his clients delivers a powerful customer-centric touch. “Most people nowadays are text messaging. My young professionals, that's how they want to communicate. MyRepChat allows me to have that instant communication with them. It’s phenomenal because in this industry that just is not available elsewhere,” he said.

Eloy has built upon LPL’s tech foundation by creating his own digital content that he distributes regularly to his clients. He relies heavily on social media as a dynamic way to engage on both a personal and professional level. He also reconfigured a home office into a recording studio where he records personalized video blogs that address market conditions.

Digging Deep

When asked about his professional differentiation, Eloy frames things in terms of personal values, not competition. “I continually ask myself how I can help my clients. The value that I bring is that we can get deep in our relationships, deep in our trust; really get to know the individual. I'm not trying to do just a transaction with somebody. I’m here for relationships. I'm here for building trust with individuals; to do 100% what's in their best interest, not what's going to help me grow my business,” he said.

Recently, one of Eloy’s clients called him for advice as their family was considering a move. They wanted to know how best to leverage their home’s value in making a relocation financially feasible. “The talk was not about a 401(k) but a practical financial matter that touched them personally. It was a quality-of-life discussion,” he said. It’s that kind of personal involvement that’s helped Eloy build and grow his business organically.

The Family Advantage

When pressed to discuss his steady business growth, Eloy continually steers the conversation toward family. “Part of the reason I joined LPL was because of the flexibility it would allow me with my family; to be able to spend time with my two boys as they finished their high school careers and moved on to become young adults. We can build a practice in the way we want to in a way that fits our lifestyles and the way that fits our client's needs. That's where this industry is going. This industry is going where you have deeper relationships with individuals on their schedule,” he said.

Career Reflections

While this career professional has endured numerous market swings and navigated his practice through a global pandemic, Eloy remains unapologetically optimistic. “I love this business because it’s always evolving and open to anyone. There’s no ceiling. No one is going to tell you how little or how much money you can make, or how little or how hard you must work. People who are self-driven can become very successful and have truly impactful lives. That’s one of the most awesome things about working at LPL. I can help meet my clients’ needs while enjoying my lifestyle and spending time with my family. I couldn’t ask for anything more,” he said.

 


The views and opinions expressed by the LPL Financial Advisor may not be representative of the views of other Financial Advisors and are not indicative of future performance or success. Neither LPL Financial nor the LPL Financial Advisor can be held responsible for any direct or incidental loss incurred by applying any of the information offered.