Youth isn’t a hurdle for Red Door founder Phillips

Memphis Standout profile for The Memphis Daily News

Aug. 27, 2010

The scant number of years John Phillips V has under his belt relative to others in his chosen industry is not lost on him.

“I’m young, I know that,” the 26-year-old said.

So Phillips, the founder and chief investment officer of Red Door Wealth Management, is not shy about calling on those with more experience and years who surround him.

“I enjoy learning from the experience of others,” he said. “I try to cram as much knowledge as I can into my brain at this point, but there’s only so much you can do without the experience. I definitely lean on older, wiser people so I don’t make the same mistakes they did.”

There is no shortage of, in his words, “gray hair” to advise him. Phillips and partner Fred Hiatt both worked previously for Waddell & Associates Inc. before being courted by the 16-year-old accounting firm Cannon Wright Blount.

“The next direction of the wealth management world is to partner or combine with an accounting firm which allows you a whole new level of services that you can provide for clients and their businesses,” he said. “We’re hoping this is the next evolution of the business, we’re trying to get ahead of the curve.” … (read more)