Black Business Spotlight: ARA Wealth Strategies

ARA Wealth Strategies, led by Ryan Brown, is a wealth management advisor firm dedicated to helping individuals and families achieve their financial goals. Established in 2016, the firm offers a comprehensive range of tailored financial services. It is located in the Northwestern Mutual office at 5201 Eden Avenue, Suite 200, Edina, MN 55436. 

MSR: What inspired you to launch/start your business?

Ryan: I came across Opportunity at Northwestern Mutual, and I bet on myself and said, “Yeah, I’ll try it.” And I’m still here eight years later. I’ve hired two people. My life is great, and there’s only room for more growth. So I’m excited about it.

MSR: Explain what a wealth management advisor does.

Ryan: What we do is we help people assess and achieve their financial goals. We help people understand what they want and help them get there by installing world-class strategies and products. That is across investments and insurance and, most importantly, planning.

MSR: How does your business impact the community? 

Ryan: It impacts it in multiple ways. It gives access to people who otherwise would not seek out or think they need a financial advisor to give them the tools they need to succeed financially.

I’m also in leadership, which means I’m also impacting the community by attracting new folks like me and other advisors who can start their careers as financial advisors.

MSR: How do others begin careers in financial advising? 

Ryan: Call me. Like 100% call me. I mean it. I never thought this would be an opportunity for me until I was shown or given the opportunity. I never thought this would be my lifestyle 10 years ago; I’m working less now than 10years ago and making significantly more money. I’m providing for two employees and my family. I’m home with my family more often. This opportunity is a godsend.

MSR: What has been your biggest challenge in owning a business?

Ryan: It’s betting on yourself. It’s going from, “I’m going to go work for somebody else because they could pay me a paycheck no matter what.” Having this sense of security relates to getting hired by somebody. They’re going to pay you a check. They’re going to give health benefits. They’re going to do all this stuff for you. It’s transitioning.

The hardest part is saying, “Well, no, I’m not relying on anybody else but me. It’s up to me to do all this stuff.” That was a hard jump to make, but it was also empowering.

MSR: What has been the most rewarding part of owning your business?

Ryan: I get to serve people on a very important matter: their finances. I get to know them on an intimate basis quickly and provide them clarity on something that there’s so much noise around. To give them the peace of mind that they can retire, they can buy their house, they can have that kid, they can get through college, and have the confidence that when they die, the money will get to the people they wanted it to go to.

The other rewarding aspect is that some amazing people are within these walls and under this affiliation with Northwestern Mutual. I love what I do, who I do it with, and who I do it for, and I would not trade that for the world.

Another piece is the freedom it provides. Freedom of money, freedom of time, and freedom of choice.

MSR: What’s your vision/goals for your business? What does success look like for you?

Ryan: I want to grow my firm in the next 10 years. In the next three years, I want five people on the team. I want to be the go-to wealth management advisor for corporate executives, investment bankers, and attorneys in the Twin Cities and nationally. I want to provide sophisticated advice to sophisticated individuals and solve sophisticated problems.

MSR: What advice would you give to an aspiring entrepreneur?

Ryan: Just keep going. The entrepreneur is the one who believes in their vision and keeps fighting for it. Do all you can to keep going. Leave no stone unturned towards your vision. The people who come out on top are the ones who don’t stop.

MSR: For people reading, what could you do for them?

Ryan: We do very good work regarding wealth management planning for many people. We want to work with people who believe in trusted professional advice and have sophisticated problems we can solve. And we’re very passionate about what we do. We can do it for people who want someone like that in their corner from a financial planning standpoint.

We will be hiring for our team. So, if anyone’s looking for a career in wealth management and doesn’t want to be a financial advisor, there’s space in our firm for hiring.

MSR: Would you like to add that has not been covered?

Ryan: I’d just like to share my story.

I was born in Louisiana. I grew up in Houston. My parents got divorced when I was 10, so I lived in a single-parent household for my entire life with my mom. She worked her butt off to provide me with opportunities, which meant she sacrificed a lot for me to be here where I’m at now, and I am grateful for that opportunity. 

My grandparents were both educators in the segregated South of Louisiana, but they always pushed that you were in control. You have some control over your trajectory by educating yourself and making the choices.

My mom chose to ensure, in her own words, that “I wasn’t a number,” and she put me in a place to succeed. I went to a high school where about 50% of the students were white and 50% nonwhite, so it was pretty diverse. But I lived in a predominantly white neighborhood. 

I share that because if you don’t see the opportunity, you’ll be limited by what you’re surrounded by. I was lucky enough to be surrounded by people with bigger visions than I was exposed to.

Now, I want to be able to provide for my kids. I’ve got three kids. I’m married. I live in Minneapolis. I moved here three years ago from L.A. I lived in L.A. for nine years before that. I was in New York for two years before that. I was in Austin for two years. Before that, I was in London for two years and went to UConn as an undergrad. Yeah, for four years. 

Then I lived in Greenwich for five years. So, I am turning 46 this year. I’ve traveled all over the place, and that is very much who I am. I graduated from the University of Connecticut with an undergraduate degree in finance. I then got my MBA from the University of Texas, which is also in finance, so I’ve been in finance my entire life.