Evan Harp sat down with Kristoffer Doura to discuss his journey as a financial advisor and the transition from sports to business.
Evan Harp: When and how did your practice begin?
Kristoffer Doura: That’s an interesting question. I began my career as a professional athlete and had a great experience going pro with the NFL. However, I got injured and had a near-death experience. Before I turned pro, I studied business administration at the University of Charleston, West Virginia. Later, I pursued a master’s degree in leadership and management, and realized that football was just a stepping stone towards my ultimate goal of working in finance. After my injury, I got a second chance at life, and found my calling in serving people in the financial and nonprofit industries.
My journey in financial services started in 2015, and I have never looked back since then. Over the past decade, I have evolved into becoming an investment advisor. My practice has taken off and launched into more specific niche groups such as succession planning, particularly business succession planning. I assist entrepreneurs and business owners in getting valuations to know the worth of their companies. With this knowledge, they can prepare for an exit strategy, whether it’s selling the company, transferring it to another generation, or preparing for a cash sale. This has allowed me to demonstrate the capabilities of my practice.
In addition to that, I also help a lot with estate planning. I’ve helped business owners think about their legacies, whether it’s gifting to a nonprofit organization or some other form of impact. During the pandemic, I became a Wall Street Journal best-selling author, which complements my financial practice. It has also enabled me to be a thought leader in the nonprofit space.
Kristoffer Doura Centers Legacy
Harp: What is your investment philosophy?
Doura: The philosophy we follow is centered around legacy, which is about ensuring that people plan for the future generation. We understand the importance of a holistic financial planning approach, which includes family planning, business planning, and philanthropic planning. Our aim is to provide comprehensive support to individuals and organizations in this regard.
We offer customized and tailored solutions based on the specific needs of the family or organization. We believe that everything starts and ends with the legacy and the vision of the impact, whether it’s through the company, a nonprofit organization, or simply becoming sustainable.
Our philosophy is designed to benefit people who haven’t had significant wealth, as well as businesses that want to scale. We apply this philosophy across different verticals by prioritizing succession and legacy in perpetuity. We believe that our approach can help create a positive impact for generations to come.
From Sports to Business
Harp: Excellent answer. What’s the biggest obstacle you had to overcome, and how did you do it?
Doura: Transitioning from one industry to another can be a huge challenge, especially after experiencing trauma as a professional athlete. I understand that it can be difficult to rebuild your life and start anew. However, I believe that there are two different approaches to overcoming these challenges. One approach involves using the knowledge and experience gained from your journey to help you adapt and thrive, which is what I did when I became an investment advisor. But, I also understand that this transition can be tough, and requires a lot of hard work, dedication, and tenacity.
The pandemic has also presented significant challenges, and I empathize with how difficult it can be to serve clients and meet their needs without being able to meet them in person. I know that building trust and rapport with clients can be difficult when you’re communicating through technology like Zoom. But, I believe that it’s crucial to maintain that personal touch and relationship, even if we can’t be together in person. I understand that it takes resilience, patience, and adaptability to overcome these challenges and still get deals.
Kristoffer Doura at Exchange
Harp: You attended Exchange a few weeks ago. What was your favorite memory from the conference?
Doura: The conference was an unforgettable experience, where professionals from different backgrounds and industries came together to face challenges and share their knowledge. It was heartening to see everyone united in their pursuit of thought leadership and innovation. Being a part of this event was a true inspiration, and it was amazing to witness the positive energy that flowed through the room. I believe that every advisor should attend this conference and experience the power of collaboration and learning firsthand.
The Advisors Who Inspire Doura
Harp: Who’s another financial advisor who inspires you?
Doura: It’s impressive to see black, African American financial advisors perform in this space. I identify with my place in this ecosystem by following many African American black financial professionals in the industry who work with all different types of ethnicities to serve clients. One great financial expert is Mandi Woodruff-Santos. She focuses on helping people prepare for emergencies in several different industries.
We are considering various financial economists, including Chris Browning, who has a unique advisory approach and has shown the ability to serve not just business communities but also individuals looking to manage their wealth.
I’ve been following several financial advisors lately, including Kevin L. Matthews II. He specializes in discussing index funds and other strategies that benefit clients. I’m happy to see that there are now more black financial professionals demonstrating their expertise and serving our communities. It’s inspiring to see advisors who are not only active in the community but also provide great thought leadership. As I’ve grown as a financial professional, my advice to clients closely mirrors that of other top financial advisors across the country. As a black advisor, it’s great to see examples of black excellence in the industry.
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