One of the keys to an advisory firm’s growth is community involvement, according to Michael Purpura, president of wealth management at D.A. Davidson, an employee-owned financial services firm, headquartered in Great Falls, Mont., that has experienced rapid growth within the last two years.

The private, employee-owned firm has grown from 65 to 77 branches in the last two years and has plans to continue its expansion, Purpura said in an interview.

“Everybody says this, but we focus on the nobility of our profession to help people, and we also cultivate a client-centered and advisor-centered culture,” Purpura said. “It is sometimes difficult to convey that to potential recruits in an interview. Our whole industry needs to talk about the nobility of the profession.

“There are thousands of great advisors out there who are helping clients, but sometimes it seems you only hear about a few bad individuals,” he added.

“We are committed to continuing to grow, but have not set goals for a number of new branches. Because we are privately owned, we can be patient and make long-term plans,” Purpura said.  The firm has plans to expand its geographic footprint in the future.

D.A. Davidson has not found it difficult to attract talented advisors. Part of that success is attributable to encouraging community involvement at each of its branches and rewarding good work and community-oriented activity, he said. The firm has also hired recruiters to spread its story.

For instance, the firm annually recognizes an employee who made outstanding efforts in the community. Last year the Bragg Lewis Knutson Community Service Award was presented to a Lincoln, Neb.,-based advisor, Lisa Smith, for her “generosity and compassion as expressed through her service to her community,” D.A. Davidson said. The award will be given again in January.

The firm also gives advisors and staff time off in December to do volunteer work.

The advisors at D.A. Davidson also recognize that clients want more services than they did a few years ago, Purpura said. In addition to investment advice, “clients now want help in retiring and assistance when they are selling a business or when they want to set up a foundation. They want to know how to pass on wealth to their sons and daughters.”

“Clients’ expectations are different today. They want more technology, but they also want more personal, specialized advice,” he added.

Meeting those client and employee needs are behind the firm’s ability to attract talent and its rapid growth, Purpura said.