Building Wealth for the LGBTQ+ Community with Laura J. LaTourette
Release Date: 08/09/2022
How to Make Better Business Decisions Using a Simple Framework
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Most entrepreneurs treat business problems as money problems. In this episode, Brian Thompson makes the case that they are almost always alignment problems, and that better decision-making starts not with tactics, but with mission, vision, and values. Brian shares the alignment framework he uses with entrepreneurs across industries to help them make decisions with more clarity, confidence, and purpose. If you have ever felt like your business decisions are harder than they should be, this episode will help you understand why, and what to do about it. In this episode you will learn: Why...
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Choosing the Right Business Structure for a Mission-Driven Business
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Choosing the right business structure is one of the most important decisions a mission-driven business owner will make, and taxes are only part of the story. In this episode, Brian Thompson walks through every major business structure available to entrepreneurs, viewed through the lens of ownership, profit sharing, decision making, and mission protection. Whether you are just starting out, growing your team, or thinking about the best way to share profits, this episode will help you ask better questions and make a more informed decision about the structure that fits the business you are...
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People Before Profit: The Co-op Business Model
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Most entrepreneurs have never seriously considered the cooperative business model, even though some of the most recognizable brands in the world are co-ops. In this episode, Brian Thompson sits down with D.G. Safeer Hopton, entrepreneur, healer, and author of Creating a Co-op Village, to explore cooperative economics and what it could mean for mission-driven business owners. Safeer has spent decades building co-ops, studying cooperative economics, and helping communities create prosperity through shared ownership. This conversation is a practical and eye-opening introduction to a business...
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Why Revenue Growth Isn't Making You Feel Safer
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More revenue does not automatically create financial security. In this episode, Brian Thompson explores why so many entrepreneurs still feel anxious even when business is going well, and what actually builds business stability over the long term. Brian gets honest about the gap between revenue growth and emotional security, drawing from his own experience and years of working with entrepreneurs at every stage of business. If you have ever hit a goal and still felt like everything could fall apart, this episode will help you understand why, and what to do about it. In this episode you...
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The Cost of Hiding Who You Are in Your Business
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Let's explore the real emotional and strategic cost of hiding parts of yourself as an entrepreneur, and why building a business rooted in authenticity creates stronger alignment, better marketing, and a more sustainable path forward. Brian gets personal about his own journey navigating visibility as a Black, gay entrepreneur and financial planner, and what he has learned about the difference between protecting yourself and slowly erasing yourself. If you have ever felt exhausted by performing a version of yourself you thought people expected, this episode is for you. In this episode you...
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How to Achieve Sustainable Leadership Through Delegation
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Most entrepreneurs reach a point where doing everything yourself stops working. In this episode, Brian Thompson gets honest about the emotional side of delegation, what he has learned since bringing on his first employee, and why sustainable leadership requires letting go of the need to carry everything alone. Delegation is one of the most talked about business strategies, and one of the most misunderstood. Brian shares why delegation is not just an operational decision, it is an emotional one. Underneath the resistance to delegating are fear of mistakes, fear of losing control, and fear of...
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What It Really Takes to Hire Your First Employee
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Hiring your first employee is one of the biggest leaps you'll take as a business owner, and most people don't talk openly about what it actually involves. In this episode, Brian Thompson sits down with his operations manager Jesica Berger to share the hiring strategies that shaped their journey, from both sides of the table. Brian and Jesica worked together for nearly seven years before Brian launched his own financial planning firm. When the time came to bring on his first hire, the foundation of trust they had built over almost two decades made all the difference. In this honest...
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Why High Achievers Struggle to Feel Successful in Business
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Many entrepreneurs hit their goals, grow their revenue, and create real impact, and still somehow feel behind. In this episode, Brian Thompson unpacks why high achievers so often struggle to feel successful, how comparison and constant striving distort our sense of progress, and why mission-driven entrepreneurs are especially vulnerable to this pattern. It is a candid and reflective conversation that ends with a challenge to redefine what success actually means for you. The Pattern Entrepreneurs Get Stuck In A pattern Brian sees in himself and many of his clients: Hit a goal, feel proud...
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Why You're Feeling Stuck: The Hidden Cost of Clutter in Your Business
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Clutter has a way of building quietly, and before long it starts affecting more than just how your desk looks. In this episode, Brian Thompson takes an honest look at how small pockets of disorganization pile up during busy seasons and what they actually cost you, not just in time, but in decision-making, financial clarity, and the ability to move your business forward. Coming off tax season, Brian gets personal about his own clutter habits and offers a simple, practical approach to clearing the backlog without overhauling everything at once. Clutter Is About Avoidance, Not Organization...
info_outlineBrian Thompson chats with Laura J. LaTourette, CFP, the founder of Family Wealth Management Group. As a self-made entrepreneur, Laura has prioritized building her fee-only financial planning firm while living fully as her authentic self. Her comprehensive planning and wealth management approach demands the same kind of determination, self-reflection, and bold spirit from clients.
On the episode, Laura shares strategies she’s used to build her successful, long-standing firm and the lessons she wishes she had learned a little sooner in her entrepreneurial journey. She also discusses why now is the time to build wealth for the LGBTQ+ community and how being vocal and visible can inspire compassion.
Episode Highlights
Mission-driven businesses come from the heart.
Laura defines a mission-driven business as one that comes from your heart and reflects who you are authentically as a person. Although she didn’t define her financial planning firm as a mission-driven business at first, when she came out as a lesbian in 1994, Laura knew she wanted to help people like her.
“I worked with women in transition -- women through divorce or being widowed,” Laura said. “Then I also found my LGBTQ community needed help with understanding the language of financial planning, so I just kind of took off from there on an organic basis.”
Keep a firm line between advising and therapy.
One of the benefits of being an entrepreneurial financial planner is the ability to show up authentically, which helps Laura build trust with clients and form real relationships. Laura is clear that working with her means a long-term commitment.
“It’s a long-term relationship,” she said. “It’s not a transactional situation.”
Having that type of client relationship requires both Laura and her clients to be vulnerable, and Laura will share part of her story to help her connect with clients. However, she is careful to make sure an appointment does not turn into a therapy session.
“If they go so far that it seems like they’re really giving me too much information, I do talk to them about financial therapists,” she said.
It’s time to build wealth for the LGBTQ+ community.
As a new wave of anti-LGBTQ+ legislation sweeps through the country, stoking fears that marriage equality might be the next right overruled by the Supreme Court, it’s now a priority to create a “rainbow network” that builds wealth and provides financial education for the LGBTQ+ community.
“We’ve got trans kids dying, and we’ve got LGBT elders not able to find a safe place to live during their ending days, so we’ve got trouble on both ends,” Laura said.
Laura called on the LGBTQ+ community and allies to become visible, vocal advocates on business boards and in places of power. Laura lives this advice by serving as an ambassador in the financial services industry and by sharing her perspective with clients who sometimes find it uncomfortable when she mentions her wife.
“The more you make them uncomfortable, at some point, then they start getting comfortable,” Laura said. “They may not be able to advocate for me yet, but I can at least bridge an opening of their heart.”
Resources + Links
- Family Wealth Management Group
- Laura’s financial industry leadership: CFP Board Ambassadors, FPA PridePlanners
- Laura’s Social Media: Twitter, LinkedIn
- Brian’s Social Media: Twitter, Instagram, Facebook
About Brian and the Mission Driven Business Podcast
Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit.
On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.