Get to know Nancy Knous
Nancy Knous, CFP® is a Managing Partner of 3rivers. A graduate of the University of Tennessee in Knoxville, Nancy earned her degree in Communications. She brings 30 years of experience as a financial planner. Her registrations, held with LPL Financial, include Series 7, 63, 24, and she is licensed in 25 states. She is also a SmartVestor Pro.
Nancy is a 2009 graduate of The Leadership Academy and has served on various boards to support Memphis. As a professor of Personal Finance at the University of Tennessee School of Pharmacy, she serves as a guide to wise investing and financial independence for future pharmacists. Nancy is also an accomplished speaker and has delivered talks at several national leadership conferences for LPL Financial.
How did you decide to build a team?"My team building was completely by default. The things I love and the people I love I can focus on for hours, but the things I hate, like organizing or details, I have very little time for. It was obvious early on that I needed help in the areas of my weakness."
"As we grew, I added additional members who:
1. understood our mission and values
2. were excellent at doing things I hate or am horrible at
3. freed me up to excel and focus on my areas of strength"
"To give you an example, I’m actually quite good at managing portfolios but I don’t like it, so I hired a client who was retiring from his CFO position at a major food distributor. I knew he would be good because when he was a client he called me every day to talk about various stocks and funds, their price, their outlook, etc. He drove me nuts, but he did very well in his own portfolio and we worked well together. When he told me he was retiring at age 60, I asked if he’d like to get a series 7 and come to work with me managing portfolios. He’s been here ever since and I believe is likely to stay well into his 80s. He loves the minutia and keeping up with the markets, the economy, etc."
Who needs 3rivers and why?"Our program is focused on the 3 parts of any business owner’s life:
1. Profit analysis - the cost of everything, the value of everything and going deeper than simply AUM to determine if you have an ever-growing profit.
2. Running your office efficiently (and with limited involvement from you). Is everything you do process driven, organized and systematic? Being buttoned up means you get to do what you’re good at and also means you get time off when you want or need it without worry. That last part is key.
3. Goose care - You’re a goose. I mean that lovingly: you lay golden eggs. No golden eggs come if you don’t take care of yourself. When I ask, “How are you?’” you must be able to answer with honesty and transparency. Identify any emotions you’re feeling that may need to be processed with your BFF, spouse, coach or therapist, etc. We are a finely-tuned machine. Do you need a tune-up?"
"I say all the above to suggest that if you’re good at all these, you not only do not need this program, you should be writing it. But if, like me, you have several you really need help with, then you need this program. I am strong in #3, OK in #1, and very weak in #2. What about you?"
"Another group that needs this program is the next gens and/or heirs apparent, any current and future partners. They are very talented and I am a grand advisor, but I may not be able to teach them all I know. Giving this group our content takes you off the hook and allows them to learn from us while we watch and steer."