Today, we’d like to introduce you to Bo Tran.
Hi Bo, we are so excited to have you with us today. What can you tell us about your story?
I was born in Vietnam, and my family didn’t have much. One of my earliest memories was living in a refugee hut in the Philippines, and we hoped to eventually make it to the U.S. and achieve the “American Dream.”
My version of that dream, however, was admittedly a bit European. Because France colonized Vietnam in the late 1800s, French influence can be seen throughout my home country, and I envisioned owning a home in Paris someday. I shared my Parisian aspirations with my father throughout my childhood, and he always supported my dreams, however far-fetched they may have seemed.
Since I couldn’t work for a paycheck during childhood, pursuing an education was the only way to help my family. I was aware of this fact from a very early age, and I treated school like a job, always taking it seriously with perfect attendance.
When we finally reached the U.S., I remember admiring my parents’ work ethic. My father worked long hours at a power plant, while my mom worked on a poultry assembly line. My father emphasized the importance of your word because your word is your social capital. Without it, he said, you have nothing.
Years later, the strong foundation my parents set would eventually lead me to a career as a financial advisor. Integrity guides everything I do, and my clients can trust my word and guidance as we work together toward achieving financial security. I’m grateful to be part of Northwestern Mutual Goodwin, Wright. I take pride in helping people, families, and businesses build and protect their futures with careful and deliberate financial planning.
Can you talk to us about the challenges and lessons you’ve learned? Looking back, would you say it’s been easy or smooth in retrospect?
I graduated from Georgia State University with a bachelor’s degree in business and worked as an account executive for a lender during the subprime boom.
I excelled in my role, but when the housing bubble burst in 2008, my employer shuttered its doors without notice. I remember showing up at the office that morning and seeing everyone standing outside the building. There was a padlock and chain on the door, and we had all been let go roughly 12 hours after our boss had assured us we were safe.
That experience illustrated the uncertainty of life, and I started to consider financial planning as my new calling. I realized that if I worked hard and dedicated myself to the profession, I could create a financially secure life for myself and my family and help others do the same.
My first six months were a struggle, as I found it difficult to attract clients. I was about to give up, but one day, my first client called me and was ready to implement the strategies I had suggested a month prior during our initial meeting. I learned that building a clientele takes time, patience, and persistence.
My career started to take off in an exciting direction, but I suddenly made much less time for family life. I had always thought “more” was better, and that mentality drove me to focus on my career almost exclusively. I earned my license in financial planning in 24 states, but I hardly saw my parents because I worked so much.
Then, I lost my father suddenly when he was only 62. I was devastated and felt crushing guilt for not spending enough time with him. I also started questioning my “more is better” mentality and have since realized that pursuing “more” isn’t the solution to achieving happiness and success. My intense ambition led to remorse for not being there for my family, and I can’t go back and change it.
Despite my heavy grief, I turned my focus back to my work and, with a fresh awareness of the importance of family, I realized the firm I had been working at didn’t offer the sense of belonging and support I wanted. I always assumed being on your own was just the nature of the financial services industry.
I found that assumption untrue when I became familiar with Northwestern Mutual Goodwin, Wright. In addition to my biological relatives, my family now includes the Northwestern Mutual team here in Atlanta. It’s a close-knit network of advisors and team members working to build wealth and impact clients’ lives.
As an advisor, I discovered my passion for helping families, individuals, and businesses achieve financial stability through risk mitigation and wealth management. I help clients develop a holistic plan for everything from disability and death to long-term care and end-of-life planning. It’s about hoping for the best but planning for the unexpected.
I didn’t fully realize how satisfying this career could be until I moved to Northwestern Mutual Goodwin, Wright. I learned I could be successful without having to go it alone. Financial firms aren’t always the cold, impersonal organizations depicted on TV and in the movies. At Northwestern Mutual Goodwin, Wright, people support each other, and I can maximize my potential by helping families and businesses be more financially secure and prepare for the unexpected.
Fourteen years into my time as a financial advisor, I look back on how I’ve been able to help change clients’ lives for the better. It’s invigorating and rewarding to see my planning work with clients over many years come to fruition.
What makes you happy?
I’m incredibly happy to have realized my vision for the future through financial planning. While my father isn’t here to see it, my hard work, fiscal responsibility, and many of the strategies I recommend to my clients have allowed me to buy the home in Paris that I dreamed about as a child. Shortly after my father passed away, I also financed my mother’s retirement because I wanted her to spend time enjoying life rather than working. Doing that for my mother has been tremendously rewarding and brought me happiness.
Career-wise, I’ve found mentoring very rewarding, so I invest much time and energy into helping new financial advisors find their way. This profession is in demand, with the Bureau of Labor Statistics projecting 15% growth from 2021 to 2031 – much larger than other occupations. Additionally, Northwestern Mutual’s Planning & Progress research found more than a third (36%) of Americans say uncertainty about their finances keeps them up at night at least once a month. Financial anxiety is a significant problem in America, and I’m proud and happy to help grow the number of financial advisors who can deliver comprehensive financial planning.
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