Why would someone choose to spend a career helping families with their money? For Thrive co-founder Steve Erfle, the answer starts at home. Steve grew up one of seven kids in a house where money was always tight, and he knew early on he wanted something different for his own family.
In this video, Steve shares how that upbringing and his knack for numbers led him to financial planning and why he and Mike Ptaszenski started Thrive in 2013. He also talks through how he works with people going through big life changes, from a new job to retirement.
If you’re heading into a change of your own, we’d love to hear from you. Call 215-376-5530 or visit thrivewealth.com.
Transcript
Hi, I’m Steve Erfle, co-founder of Thrive Wealth Management. People often ask me why I became a financial advisor. My answer goes back further than you may think.
How My Childhood Shaped My Approach to Money and Financial Planning
It starts at home. I grew up one of seven kids, and money was always tight in our house. My parents made every dollar count. Nothing was wasted, and I learned early that money isn’t just about what you earn, it’s about what you do with it. With nine people under one roof, nothing happened by accident. Groceries, school clothes, even vacations were planned in advance.
That’s where I learned the value of approaching things with a plan instead of just good intentions. In school, I was always good with numbers. Everyone figured I’d end up teaching math, but that wasn’t for me.
Why I Chose a Career As a Financial Advisor
So in college, I started looking for a career that used that skill and fit the kind of person I wanted to be. That’s when I found financial services and I realized I could make a good living while genuinely helping people. To me, that was the best of both worlds.
Why We Founded Thrive Wealth Management in 2013
Helping people has always come naturally to me. And after a number of years in this industry, I felt it had become too focused on profitability. So in 2013, I started Thrive with my co-founder and partner, Mike Ptaszenski.
We believed a firm could succeed by putting people first with real financial planning for a fair fee. That’s important to me because a lot of people assume a financial advisor is expensive or looks out for their own interests first. We’re an independent fee-based firm, so we aren’t tied to a bank’s or insurance company’s products, and we’re up-front on how we’re paid.
What Does it Mean to Work With a Fiduciary Financial Advisor?
As fiduciaries, we’re required to put your interests ahead of our own. Others figure an advisor only picks investments, which they can handle on their own. For us, investments are one piece.
Why Comprehensive Financial Planning Goes Beyond Investments
We look at how your taxes and estate plan connect with them and we can work alongside your CPA or attorney when it makes sense. Some of the most rewarding work I do happens when someone is going through a big change, like a new baby, a new job, retirement, a divorce, or losing someone they love. Those are some of the moments when financial decisions are heavy and the stakes feel personal.
How a Financial Plan Can Help Address Retirement and Money Concerns
A worry I hear often when people meet with us is “Am I going to run out of money?” or “Am I making the most of what I have?” I tell them that together we can build a clear written plan and test it against tough what-if scenarios. Our goal with having that plan on paper is to help people feel more at ease. And once we agree on a plan, we can help them put it in motion so the plan we work on together doesn’t just sit in a folder.
The Most Rewarding Part of Helping Clients With Their Financial Future
One of my favorite moments is sitting down with someone and walking through a spreadsheet of their net worth over the years. It’s so rewarding to see how far they’ve come. No matter what brings you in, I always work to ensure the advice you get from me is honest and in your best interest.
What Clients Can Expect From Thrive Wealth Management
I want you to feel heard and we make it a priority to get back to you quickly. At Thrive, being available is a big part of our service. Helping people work toward financial peace is what drives me.
Connect With Thrive Wealth Management for Personalized Financial Planning
And when someone takes a moment to say thank you, that gratitude is my “why.” In a way, it brings me back to that house with seven kids. I wanted something different for my family. And now I get to help other families plan for theirs.
If you’re heading into one of those big changes, we’d love to hear from you. You can call us at 215-376-5530 or visit our website at www.thrivewealth.com.
This material is provided for informational and educational purposes only, should not be viewed as an exhaustive discussion of the topics presented, and should not be construed as individualized advice for any reader’s personal circumstances. For guidance on how these matters may impact your financial plan or investment portfolio, please contact your Thrive Wealth Management, LLC representative. While the information presented is believed to be factual and up to date, Thrive Wealth Management, LLC does not guarantee its accuracy and, due to various factors, including but not limited to changing laws and regulations, this information is subject to change. All expressions of opinion reflect the judgment of the authors as of the date of publication.
Past performance does not guarantee future results. All investing comes with risk, including risk of loss.
