Financial solutions are commonplace offerings for large entities such as banks or investment firms. These products take a variety of forms such as bonds, large-scale loans, stocks, and more. While these services can bring added flexibility to the ways these types of organizations leverage their finances, there are far fewer option for consumers to enjoy this same type of flexibility. Despite this, some in the financial industry are making it their mission to bring these kinds of financial products to a larger audience through smaller-scale products. One company participating in this growing industry is Money Mart Financial Services. Under the guidance of their CEO, Glen Wakeman, the company is rewriting the rules of what it means to serve consumers’ financial needs.
Founded in 1979, Money Mart began as Dollar Financial Group with the goal of providing accessible financial products to consumers who lacked access to banking resources. Since its beginning almost forty years ago, the company has grown to serve over 5 million customers in over 800 locations throughout North America. The firm is now able to boast a position as one of the largest and most diversified providers in the industry, offering a wide range of financial products to the consumers it serves.
The company’s offerings allow its costumers to secure financial resources without relying on a direct affiliation to a bank or other financial institution. Some of the products it offers in the pursuit of these ends include secured pawn loans, short-term consumer loans, check cashing, and other ancillary products. In addition, the company currently offers unsecured, online loans to a select number of states including Florida, Kansas, and California.
A look at those heading the company will help to inform anyone seeking a deeper understanding of Money Mart and the services they offer. Like most companies, the influence from leadership begins at the top with the company’s CEO. Glen Wakeman is a veteran of the financial industry with a level of experience spanning over two decades in various leadership roles with his old job.
While the above roles prepared him well for a career in financial services beyond his past job, the role that probably most influenced Glen’s grasp of business fundamentals was his time working in Latin America. In that role, he took the division from a one-person startup to a vast department that spanned nine nations, employed 17,000 people, and laid claim to over $12 billion in assets. This first-hand look at growing a company from the ground up led to a solid foundation not only in the world of big business, but in the myriad of nuanced skills required to create and run a successful startup.
Goals and Values
Stemming from the success and knowledge of its leadership team, Money Mart has built itself upon a solid footing of ethical practices that strive to achieve above and beyond industry norms. The company’s vision statement is to “Be the preferred provider of funding solutions to address customers’ immediate financial needs.” This statement alludes to the service-centric approach employed by Money Mart to organically promote their offerings by offering value where others cannot. This approach is also tied to the company’s mission statement, which is to “Serve our customers with straightforward, relevant products that meet their evolving financial needs.” Again this component of the company’s philosophy aligns with their drive to identify unmet needs in the communities in which they operate.
Along with their vision and mission statement, Money Mart guides its service offerings through a set of core values that prescribe the way it works to interact with consumers. These values center on three primary areas — integrity, teamwork, and excellence. While working towards integrity in its dealings, the company emphasizes an approach focused on being candid and accountable, a refreshing goal in an industry that has seen other organizations engage in less than reputable dealings. In the pursuit of emphasizing teamwork, the company seeks to encourage a diverse and collaborative workplace. This is done with the belief that strength can often be found through a variety of viewpoints working together. Finally, its efforts towards encouraging excellence focus on setting high standards and maintaining them in a consistent fashion. This allows consumers to know they can expect the same level of quality no matter when and where they work with Money Mart.
Along with CEO Glen Wakeman, Money Mart has brought in a high-level team of executives who draw experiences from a range of established and well-respected organizations. Leadership-level staff members have worked with leaders in the business and financial industry such as Vodafone, Goldman Sachs, Capital One, and the Federal Reserve. They possess a variety of training backgrounds including foundations in law, business, and economics. Their education in these areas comes from prestigious institutions such as the University of Chicago, Boston College, and Northwestern.
This extensive background drawing from the upper management tiers of numerous high-level players in financial markets allows Money Mart to pass on a level of expertise to its consumers that is unrivaled among others in the industry. Through this breadth of knowledge and hands-on experience, they have become known as leaders in creating workable financial products that effectively address the needs of the customers they serve.
Though financial products and services have long been used heavily by banking institutions and investment firms, their integration into consumer-level offerings has been slow to materialize. However, through the concerted efforts of companies like Money Mart, consumers are now starting to see the benefits of products and services that allow them to leverage their own access to capital without having to go through a bank or other traditional financial institution. With capital executives like Glen Wakeman leading the charge towards this wider offering of financial commodities, more people than ever are finding that they can use these financial services to their own advantage when they find themselves in need of assistance.
More about Glen Wakeman at http://chronicleweek.com/2018/03/glenwakeman-wise-advice/