Partner/LPL Financial Advisor
Office: (612) 256-2208
Fax: (612) 200-3809
Meet financial advisor Patrick Murphy
About Patrick Murphy
My childhood memories are different than many living in Minnesota. After struggling to support a family of six while in college, my father gave up his dream of getting a Ph.D. in physics and landed a job in what was then a new industry, computer programming. Working for Control Data on Cray Super Computers, we relocated from Coon Rapids, MN to a small island in the South Pacific called Kwajalein or Kwaj as we called it. My father’s job was to program missile flight paths. It was a great place to grow up. I learned a lot about how to meet new people and interact with those from diverse backgrounds. After 5 years, we then spent time in Hawaii, Silicon Valley and ended up where we started, Minnesota, where I attended high school and graduated from the Carlson School of Management at the University of Minnesota with degrees in Finance and Marketing.
After graduation, I spent the next 25 years working for large national brokerage firms studying the financial and capital markets, working at Morgan Stanley, RBC Wealth Management and Ameriprise Financial. I watched the tech bubble burst in 2000 and the financial meltdowns of 2007 and 2008. These events taught me to invest for the full market cycle and understand risk management. It was about this time that I also had to step in to help my dad. He’s an amazing person, but planning has never been his strength. As his retirement approached, health issues began to develop, and further financial insights meant we had to pivot and shift to help him meet his goals.
While the experience with my dad was stressful, I realized that listening to people’s goals and being able to help them meet those goals was rewarding. I also realized that to be the fiduciary I wanted to be, meant I would have to be completely independent without the pressure to sell proprietary products. So, I made the move to True Vision Financial Advisors, an independent financial services firm, where I would be in control of the products and services my partners and I provide to clients.
I’ve had the privilege of handling complex plans and tax issues and relatively simple ones. I’ve had clients cry when they found out they could retire early, and others realize they need to shift assets or change behaviors to meet their goals. Each of those situations has made me a better financial professional working in my clients’ best interests.
In the end, it’s your retirement and your custom plan. Our job is to make sure your plan addresses your needs and guides your path through retirement. Our team listens to your goals, analyzes your data to determine the timing of what’s possible and explain the final product so you understand its content and reasoning.
My business partner, Mark Josephs, and I teach classes on retirement planning to help people understand the financial factors to a comfortable retirement. We work together as a planning team for our clients.
“Education is the passport to the future, for tomorrow belongs to those prepare for it today” – anonymous