A Slowing Economy Meant One Thing to Dominion Investment Group Managing Partner Daryl Bank: Expand!
Virginia Beach/Port Saint Lucie, FL Based Firm Offers Dynamic Range of Financial Services - Now Including Investment Grade Diamonds - Via a Network of Over 200 Brokers
PORT SAINT LUCIE, Fla., March 11, 2014 /PRNewswire/ -- Marveling at his continual ability to make deals, regroup and grow his company no matter the odds, one of Daryl Bank's colleagues at Dominion Investment Group recently made a whimsical observation that sums up the can-do spirit of his entire career. "If you were strapped and bound and left in the desert with nothing," she said, "you would get up, dust off and rebuild your entire business from scratch."
Bank, who originally formed Dominion as the investment division of Virginia Beach based Resource Bank in 2003, says his drive to succeed on behalf of the thousands of clients his firm has worked with over the past decade comes from the fact that he lives for the deal.
"I enjoy closing sales and building things up from nothing," say Bank, the company's Managing Partner who lives in Port Saint Lucie, Florida, where he runs one of its two major offices; the other is in Virginia Beach. "I wake up between three and four in the morning ready to work because I truly enjoy what I'm doing. Though I've taken on more of a managerial role with the firm as we have evolved, I am still involved in helping people accomplish their goals, fix problems and work through their financial issues."
Bank, along with partners Roger Hudspeth and David Skiles, has developed Dominion Investment Group (whose main offices are in Virginia Beach) into a multi-faceted company that includes divisions for insurance, Registered Investment Advisors (RIA), franchising, estate planning, taxes, trust services and, most recently, investment grade diamonds.
The Port Saint Lucie office houses the trust, taxes and investment banking arms of the company. The retail and wholesale insurance, Registered Investment Advisors (RIA) and franchise divisions are based in Dominion's main office in Virginia Beach. Dominion has close to 50 full time employees and over 250 financial sales people that work with the company across the country.
Bank's success has led to a weekly gig for the past three years plus hosting the syndicated radio show "Putting Your Financial House in Order." Broadcast in four markets in South Florida and one in Norfolk, Virginia, the consumer driven program addresses, Bank says, "regular people dealing with their financial lives, things like IRAs, tax planning, buying and leasing cars. I frequently invite guests to the show, everyone from an estate planner and money experts to a venture capitalist that invested in a portable golf club that breaks down into a book bag."
From 2003 to 2005, Bank opened four investment offices, formed an insurance company, as well as a property and casualty company, for Resource Bank. In 2005 he joined Bank of the Commonwealth and formed their investment division, rising, as he had done previously with Resource Bank, from startup to #1 with their broker dealer in only six months. In February 2008 he affiliated with Virginia Business Bank to form their wealth management division.
Around the time Dominion Investment Group went entirely independent, in the late 2000s, the war drums were beating about the economy slowing down – and then came the crash. At the time, it was just Bank and Hudspeth in Virginia Beach, selling fixed annuities insurance. Inspired by his dynamic history of overcoming obstacles and taking risks that ultimately paid off, his mindset about his business during this economically challenging time was exactly the opposite from most businesses and financial firms. While everyone else was freaking out and contracting, he had one thing on his mind: expansion!
Bank envisioned this level of expansion for Dominion Investment Group from the start but is the first to admit that even he never thought the company would be where they are this quickly. True to his ever-expansive entrepreneurial spirit and "love of the deal," he and his partners are committed to expanding their existing divisions while continuing to venture into exciting new territories.
The end of 2013 marked the soft launch of their latest venture, Dominion Investment Grade Diamonds, selling laser inscribed, GIA certified, high-end diamonds for investment purposes. Dominion is so confident in the uniqueness of their investment process that they patented it.
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SOURCE Dominion Investment Group