Financial Service Company

4 Financial Service Company Success Stories [2024]

Pat Walls

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Updated: October 10th, 2024

Starting a financial service company offers the opportunity to significantly impact individuals and businesses by providing indispensable financial guidance and services. In simple terms, this involves offering services like wealth management, financial planning, investment advice, and insurance solutions.

The demand for expert financial advice is high, driven by growing complexities in personal and corporate finance. People seek advisors to navigate investments, retirement plans, and debt management, making this a crucial service. For businesses, financial consultants are vital for strategic planning, budgeting, and managing cash flow.

To start, you’ll need a solid understanding of financial products, compliance with regulatory standards, and an unwavering commitment to client trust and confidentiality. This isn't just about numbers but about providing a roadmap for financial stability and growth.

If you have a knack for finance and a genuine desire to guide others towards financial well-being, this might be the venture for you.

In this list, you'll find real-world financial service company success stories and very profitable examples of starting a financial service company that makes money.

1. Gauvreau Accounting Tax Law Advisory ($4.44M/year)

Robert Gauvreau, founder and CEO of Gauvreau Accounting Tax Law Advisory, started his business in 2008 with just three employees and $220,000 in revenue. Over the years, through innovation and a focus on proactive financial services, the company has grown exponentially, now generating over $10 million in revenue and employing 90 to 100 people. Gauvreau's goal is to continue scaling the business and reach $200 million in revenue within the next ten years.

How much money it makes: $4.44M/year
How many people on the team: 80

Our Accounting Tax Law Advisory Firm Will Surpass $10M Revenue in 2023

Gauvreau Accounting Tax Law Advisory has gone from $220k in revenue in its first year to over $10 million with 90-100 employees, offering compliance solutions, strategic financial advisory services, leadership coaching, and specialized tax, wealth management, and business financing services; their primary goal is to positively empower business owners to maximize their impact in changing the world, and they plan to go from $10 to $200 million revenue in the next ten years.

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2. Contrarian Thinking ($3M/year)

Contrarian Thinking is a premium membership community that teaches people how to add cash-flowing income streams to their portfolios and achieve financial freedom.

Codie Sanchez, the founder of Contrarian Thinking, came up with the idea for her business after experiencing numerous career changes and realizing that money was the key to solving problems. After working in finance and investing, she decided to blend her love for writing, investing, and teaching others to create a company that helps people achieve financial freedom. Through her premium membership community, Contrarian Cashflow, she teaches members how to add more cash-flowing income streams to their portfolios and build the life they have always dreamed of. With over 100,000 newsletter subscribers, a community of 1.5 million people, and a run rate of $3 million this year, Contrarian Thinking is empowering individuals to challenge the status quo and shape their own destinies.

How much money it makes: $3M/year
How much did it cost to start: $5K
How many people on the team: 4

My Finance Newsletter & Community Hit A $3M Run Rate This Year

Contrarian Thinking is a premium membership community that teaches its 1.5 million members how to implement cash flow strategies to achieve financial freedom, with a current run rate of $3 million and a goal of $50 million ARR in five years.

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3. CFOAF ($1.2M/year)

Inspired by his CPA mother's entrepreneurial spirit and his love for numbers, Byron Wolfe founded CFOAF, a fractional CFO Advisory Firm, which achieved $1 million in revenue within its first year by over-delivering expert financial guidance to small and midcap companies.

How much money it makes: $1.2M/year
How much did it cost to start: $50K
How many people on the team: 5

How I Started A $100K/Month CFO Service Company With My Wife

CFOAF, founded by Byron Wolfe, quickly reached $1M in accrued revenue in its first year by offering top-notch CFO services to small to midcap companies, specializing in managing high-level financial decisions, minimizing tax burdens, and providing business growth knowledge across various industries.

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4. Klooks ($720K/year)

Alexandre Abu-Jamra, the founder of K-Looks, came up with the idea for his business when he was working as an M&A advisor and struggled to find financial data for private companies. He realized that this was a common problem in the finance industry and saw an opportunity to solve it by organizing and standardizing unstructured financial data from messy pdf files. After overcoming technical challenges and securing a client with Capital IQ, the largest private financial data aggregator, K-Looks has experienced triple-digit annual growth and generated $600k in revenue in 2022.

How much money it makes: $720K/year
How much did it cost to start: $50K
How many people on the team: 35

Our Business Makes $60K/Month Turning Corporate Financial Statements Into Standardized Data

K-Looks is a Brazilian data firm serving some of the main financial institutions in Brazil with revenues in 2022 of $600k and triple-digit annual growth for the past three years, specializing in organizing unstructured financial data from messy pdf files, offering fully customized data solutions with a combination of engines that extracts and categorizes data automatically with human quality assurance in addition to financial data structuring process and financial spreading services, with a focus on good content, personalized service, and client retention.

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Read by 1,992 founders