The Power Of Perseverance

Kroskey's felony is public record on his ADV form filed with the Securities and Exchange Commission. "I haven't lost any clients because of it after I told them, but I have lost some potential clients when they found something online," he says.

His ADV details his background, and it states his willingness to talk about it. But Kroskey doesn't lead with it when meeting prospective clients, nor do all of his clients know about his felony (demonstrating that not every prospective client reads an ADV form before choosing an advisor).

"There's not a client I don't intend to tell," Kroskey says, adding that it's more of a "feel" issue based on the comfort level he's built up with a particular client that dictates when he thinks the time is right to tell them.

John Dial, a 63-year-old recent retiree from Copley, Ohio, and his wife became Kroskey clients after attending one of his retirement planning seminars at the University of Akron three years ago. About a year and a half later, Kroskey told the Dials about his past.

"I know he had some problems with the law in college, but he's continually battling to overcome them in his new profession," Dial says. He adds that Kroskey has continuously stressed his fiduciary responsibility to the couple. "That speaks volume about his ethics."

And Kroskey has won over some of his professional colleagues. Don Tharp, president of Hudson Financial Advisors in Streetsboro, Ohio, met Kroskey in 2009 at a DFA gathering for advisors who use its funds. Tharp says he was impressed by Kroskey's intellect and personality, and saw him as a possible hire for his firm. They met for lunch, but Tharp was deterred when he heard Kroskey's story. "I didn't want to bring all of that regulatory B.S. into our firm because he's got to jump through all sorts of hoops for everything he does," Tharp says.

But he has maintained a professional relationship with Kroskey, and it was through Tharp's introduction that Kroskey eventually became a member of The Summit Group, a select group of advisors who meet biannually to share ideas and improve their practices. Prospective members attend their first meeting as a guest, and after the second meeting need unanimous approval from the group to become a member. "The group overwhelmingly embraced him," Tharp says.

"I'd be skeptical of most people with a background similar to Kevin's," Tharp adds. "But my intuition tells me that his problems are behind him, and I think he's one of the ones who have made it to a better place."

For Kroskey, his acceptance by The Summit Group, along with the growth of his practice, provide affirmation that he has come a long way to overcome his past.