Originally from South Dakota, Adam Cox ‘07 J.D. moved from Minneapolis back to Sioux Falls in 2016 when he was invited to lead the wealth management division at First National Bank in Sioux Falls as chief wealth management officer.
Over the past several years, Cox and his team have organically grown the business from $3.7 billion to $10.2 billion in managed assets. They did this, in part, by successfully implementing Cox’s vision to expand and add new offerings like advisor services, such as financial, tax and retirement planning, and family office services. He has also set the standard for client-centered customer interactions that focus more on trust, authenticity and personalization than on slick sales talk.
Beyond driving new revenue growth, Cox has contributed to First National’s brand and outreach by creating and hosting an award-winning podcast, Common Cents on the Prairie™. The show covers personal finance topics and features guests who share their stories related to money and investments.
Cox, who has his J.D. from the University of St. Thomas School of Law, also earned a bachelor’s degree in business management from the University of South Dakota and holds an MBA from the University of Notre Dame Mendoza College of Business.
We recently caught up with Cox to learn more about his career and life since law school.
Tell us about your journey to law school and then a career in financial services and wealth management.
After finishing my undergrad at the University of South Dakota, I thought law school was the perfect fit as the skills I learned there would be incredibly useful in finance throughout the rest of my career. Also, I had a goal of being admitted to a top-flight MBA program and I thought law school would be a good way to differentiate myself. I choose St. Thomas based on gut – but it was the perfect place because it aligned with my faith and values.
How did your education at St. Thomas Law prepare you for your career?
St. Thomas Law School taught me how to think more critically about issues, frame them appropriately, thoroughly research and write persuasively. Having always been someone who prefers to think more long term, law school gave me the skills necessary to translate ideas into action.
How did the Common Cents on the Prairie podcast come about? Is there anything unexpected that has come from producing the podcast?
I started podcasting because I wanted to normalize talking about money. Money struggles are universal, whether you have a little or a lot. The problem is that the topic is still mostly taboo and, therefore, people suffer in silence. I want to help change that. Probably the most surprising thing about the show is how it’s evolved from my original concept of discussing more technical personal finance topics into a show featuring deep, emotional stories about life and money. It’s been transformative to me personally as well as our business. We’re solving for real issues, which is deeply gratifying.
Are you active in any professional or community groups or civil organizations?
I am. In addition to volunteering at our church, I currently sit on three local foundation boards – Bishop O’Gorman Catholic Schools, Avera Foundation, and Volunteers of America, Dakotas. I have always struggled with direct service, but I have a strong desire to give back and help organizations that do the hard work.
What’s something you learned at St. Thomas, in class or out, that you carry with you even today as a professional?
Everyone has a story and a reason behind what they believe. Even if their beliefs are different than yours, there is tremendous value in listening, learning from others, and engaging in conversations that leave both of us better off for having had it. Some of my good friends in law school saw the world completely differently than I did, and I cherish my friendships with them.
What do you do to manage your stress, prioritize wellness and maintain your overall health?
This is really tough for me. I have learned that I can’t control everything, but I control everything I can. I have adhered to a plant-based diet for over a decade, I prioritize moving my body as often as possible, even if it’s just going for a walk, and I make room in my life for outstanding conversations (i.e., community).
