Because his father spent his career with the Comptroller of the Currency, Ohio-native Lawrence Smith says he has “banking in his blood.” But he credits his mother, who created a hugely successful annual Black bridal show event, for his entrepreneurial drive.
After college in Dallas, where his family moved while he was in high school, Smith worked in a few fields and then joined JPMorgan Chase, where he became licensed as a banker.
Wanting to be an adviser full-time, he moved to Lincoln Financial’s retirement plan services unit in 2011 and became its Rookie of the Year.
In 2017 he went independent, continuing to use Lincoln’s broker-dealer and its RIA platform to focus on helping those in the “first generation of success,” whom he describes as adults from a working-class background who have built some assets but are not sure what to do with them.
In that year Smith also joined the Association of African American Financial Advisors and was selected for its first scholarship to Howard University’s certified financial planning program, which he completed remotely.
His involvement in AAAA underscored his commitment to encourage diverse young people to consider careers in financial services and to give back to his community through volunteer work, including serving on the board of the Guide Right Foundation of Dallas, which provides educational and mentoring services to inner city boys.
“The industry needs to attract more African American youth, and I’m working on ways to do that,” Smith said.