With two decades of experience in the financial services industry, Diego Correa has built a reputation for fostering growth, innovation and success. As the Business Development Director at the 1847Financial New Jersey Firm, Diego’s journey from financial advisor to mentor highlights his unwavering dedication to helping financial professionals build sustainable practices and leave lasting legacies. In this spotlight, Diego shares his insights, experiences, and the unique opportunities his firm offers to financial professionals looking to elevate their careers.

How long have you been working in the Financial Services industry?
This is my 20^th year in the financial services industry!

Throughout your career, what roles have you had along the way?
I started in this industry as a Financial Advisor, then moved into management as a Management Associate, then became an Associate Trainer and now I’m a full-time Business Development Director.

What made you want to join the financial services industry?
I was lucky that since I was little, I was always interested in finance so it was easy for me to choose this industry. I loved that I could have the potential of making an unlimited income and be able to serve the community around me.

How long have you been working with your current firm?
I have been with this firm around eight years now.

What sets your firm apart from others?
I think one of the biggest factors is that our Financial Professionals own their books of business. A lot of companies in the industry will tell you that you are building your own business, but you don’t actually “own” anything. With Penn Mutual/1847Financial, you do have your own book of business.

I have seen financial professionals from other companies that won’t make their contract because they were sick or they had a bad year and they completely lost everything that they have been building for years. That doesn’t happen here. You can be a full-time Financial Professional and get all of the best benefits of a career agent contract, and you really still are independent. If contract requirements aren’t met, you can switch to a broker contract for a year or two and then get back into it full-time again. We have had many top Financial Professionals that have gone through that, and they still own their book of business and they still get the renewals. Ownership is definitely key.

How do you partner with Financial Professionals?
I partner with them by simply helping them understand their business and their current processes and then be able to help them improve those processes. This can be done by providing them with tech solutions, connecting them with our marketing and practice development teams, and with our local support staff. We also heavily support teaming, whether that’s building teams and/or helping current teams grow their businesses.

When working with Financial Professionals, I like to instill the idea of leaving a legacy behind for their kids, whether that’s having a strong book of business to sell, or to even transition their book of business to their child if they decide to join the industry one day. It’s important to have a strong book of business and understand where everything is, how it works and how to grow and eventually transition it. This is why I connect them with our Practice Management team so they can fully understand these concepts.

Who would be your ideal recruit?
I think there’s no such thing as an ideal recruit, but if I had to choose, it would be a Financial Professional that has a burning desire to succeed in this industry and is really willing to work hard for it. This can be a junior or senior financial professional. If someone really loves what they do and they are willing to work hard, they will definitely do well here. We can help newer Financial Professionals by connecting them with senior Financial Professionals and introduce the idea of teaming. We can also help Financial Professionals build their own teams from scratch!

What is one example of how you’ve helped a Financial Professional grow their business?
We had a Financial Professional who was at another company and not doing well there. He joined our firm and proved that he was willing to work hard. Now, he’s part of one of the top performing teams in the country. He’s killing it right now!

What mistakes do you see Financial Professionals making when they’re joining a new firm?
Many times, they are not understanding their new contract or preparing for the transition process. A lot of firms will tell you they can do everything for you, but they don’t actually execute on any of those promises.

How does your firm stay ahead of the technology curve?
1847Financial and our firm are constantly investing in technology and trying to make Financial Professional’s lives easier. The ease of doing business is one of the main values we preach about. We have a great leadership team to help guide them to the right resources.

What has been the biggest success in your career so far?
My biggest success has been building a strong team and being able to stay in business for 20 years.

Have you been able to see firsthand how financial products have helped clients?
After 20 years in the industry, I have clients that are already retiring and enjoying their retirements, in result of the plan we have put together and it’s very rewarding to see. It is reassuring that all the work that you did with those clients throughout the years is paying off. Funny story – I had a long-time client that named their child after me because they said that they wanted their child to be as successful as me and that was really cool!

What advice would you give to a Financial Professional looking to change firms?
One of the first things a Financial Professional should do before changing firms is having a meeting with their current team on the topic of Practice Management and understand all of their strengths, weaknesses and what they are really looking for in a new firm. Then, look at the companies that have the best structure that can align with your goals.  

What do you do in your free time?
When I’m free, I’m an Uber Driver for my kids when they play soccer (lol). I enjoy playing soccer with my little soccer team (I have four boys). I have been coaching them for the past three years.

Ready to elevate your career in financial services? Connect with Diego Correa on LinkedIn today to discover how his mentorship and leadership can help you build a thriving practice and leave a lasting legacy!

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