Greenville Wealth Manager Rethinks Growth with Community-Centric Approach

Greenville’s Wealth Management Visionary: A Focus on Community and Clients

In the heart of Greenville, one wealth management firm stands out for its unique approach and commitment to the community. Founded in 2007 by Dan Wagner, who previously served as Senior Vice President at Carolina First Bank, Wagner Wealth Management embodies a vision of growth that’s anything but typical. Wagner made a conscious decision to keep his firm small and focused, prioritizing personalized service over sheer size.

Why Size Matters (or Doesn’t)

Wagner believes that “Don’t get too big” is the mantra that drives his company. Instead of trying to accommodate every potential client, the firm has chosen to cater to a more select group, primarily business owners and families. “We decided to not be everything to everybody. We decided to be everything to a smaller group of clients,” explains Wagner. With a team of just 10 dedicated professionals, Wagner Wealth Management operates offices in Greenville, Anderson, and Seneca.

Meeting Complex Needs

Why the focus on business owners? Wagner points out that this group often has the most complex needs when it comes to financial planning. “They face challenges like taxes, estate planning, corporate structure, and succession planning,” he explains. Each team member at the firm has a specific area of expertise, ranging from trusts and estates to profit sharing, allowing for a tailored service that meets the varying demands of high-income clients.

An Interesting Journey

Wagner’s journey to this point was paved with both challenges and opportunities. A former college football player, an injury ended his sports career early on and led him to change directions. He transferred to the University of North Carolina at Charlotte, where he earned degrees in finance and accounting. This foundation allowed him to excel professionally, and soon after graduating, he found himself in a pivotal role at Carolina First Bank.

Under Wagner’s guidance, Carolina First grew exponentially, transforming investments from $1.5 billion to $15 billion in just nine years. However, the rapid growth left him feeling uneasy about some of the acquisitions made by the bank. “I watched how they grew, buying other banks that I thought weren’t good investments,” he recalls. As he anticipated trouble for the banking sector, Wagner made the bold decision to establish his own firm.

A New Kind of Wealth Management

Today, Wagner Wealth Management advises clients on over $2.5 billion in assets. The firm operates on a fee-only basis, meaning they don’t earn commissions from investment products. “This allows us to act as a trusted advisor,” Wagner states, emphasizing that they sit on the same side of the table as their clients. They manage everything from daily operations for established businesses to retirement planning and wealth preservation.

Community Engagement

Wagner Wealth Management is not just about profits; they are deeply embedded in community service. Most employees actively participate on the boards of various nonprofits, demonstrating their commitment to giving back. Recently, the firm donated $10,000 to the American Red Cross after devastating hurricanes, and they sponsored scholarships and events benefiting local housing initiatives.

Regulatory Challenges

Yet, the road isn’t without its bumps. Wagner expresses frustration regarding the lack of restrictions around the term “wealth management.” With the industry constantly changing, he highlights the importance of conducting due diligence before choosing a wealth management firm. Consumers deserve clarity and a true understanding of the services being offered.

Looking Forward

As Wagner Wealth Management approaches its 18th anniversary, Wagner’s vision for responsible growth remains steadfast. He believes in the tremendous potential of the Upstate, stating, “We love being in the Upstate. We’re serious about providing the best advice we can for people in this community.” With a unique blend of personalized service and community engagement, this Greenville firm is helping clients navigate their financial futures while fostering positive growth in the local area.