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I quit Merrill Lynch to start my own business. Leaving a 7-figure income and cushy corporate perks was hard, but I don’t regret it.

Investment advisory services are provided by Pacific Capital Wealth Advisors, Inc. (doing business as Pacific Capital), an SEC registered investment adviser. The firm only transacts business in states and jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability.

For additional information about our fees, services, and disclosures, please refer to our Form ADV Part 2A, which is available upon request or online at www.adviserinfo.sec.gov.

In 2011, Chad Willardson left a high-paying job at Merrill Lynch to start Pacific Capital, a wealth management firm focused on entrepreneurs. Despite the perks and stability of a Wall Street role, Willardson grew frustrated with corporate bureaucracy and a lack of control over his client services. Taking a major risk, he left the corporate world, facing financial challenges and high stakes in building his own firm from scratch.

Today, Willardson’s firm thrives, specializing in personalized services for high-net-worth clients. His journey underlines the importance of finding a niche, leveraging skills, and taking calculated risks. His advice for aspiring entrepreneurs includes starting with a side hustle if possible, identifying your unique target market, and investing in a strong team culture.

For more on Chad Willardson’s entrepreneurial journey, read the full article on Business Insider.