A couple of lifelong friends are opening up a registered investment advisory firm,
Dynamic Wealth Solutions, in downtown Farmington this week.
Timothy Hooker and Brian Smith have been friends since their days of playing hockey in high school. The two friends participated in Wayne State University's
Blackstone LaunchPad program, which gives students the basics to start a business. The pair were looking at opening a branch of a major investment advisory firm and then had second thoughts.
"We decided we could do something better ourselves and went forward as an independent firm," Hooker says.
That became Dynamic Wealth Solutions, which is opening in the historic Enterprise building at 23623 Farmington Road. The pair received $3,000 in seed capital last fall from the Blackstone LaunchPad’s Warrior Fund. That money went to pay for licensing fees for the firm and computers for the co-founders.
"It (Blackstone LaunchPad) provided us with the support and mentoring that we built our network with," Hooker says.
Hooker and Smith plan to spend their first year in business building a client base and establishing the firm. They hope to one day expand it to other Metro Detroit locations.
Source: Timothy Hooker, partner & managing member of Dynamic Wealth Solutions
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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