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The fastest of the Bulls

Published: Monday, April 29, 2013 at 1:00 a.m.

Last Modified: Sunday, April 28, 2013 at 8:23 p.m.

Three diverse Southwest Florida businesses — an insurance agency, a furniture store chain and a wealth-management firm — now have more in common than just geography. 

They have been named to an inaugural University of South Florida list called the "Fast 56," an honor roll of the fastest-growing businesses owned, or led by, school alumni. 

The Furniture Warehouse of Sarasota, Key Agency Inc. of Englewood and Williams Wealth Management Group, of Bradenton, were selected to be part of the initial group.  More than 200 companies were nominated for the Fast 56, so named because USF was founded in Tampa in 1956.  Forty-seven firms were chosen to be among the first-time honorees.  Nominations came from faculty, staff, alumni and the businesses' employees, said Rita Kroeber, a spokeswoman for the USF Alumni Association. 

But to be selected, the businesses had to meet a list of criteria. 

"They had to be owned or operated by a former student, had to be in business for a minimum of 36 months and had to have verified annual revenue of at least $250,000 for the most recent 12-month period," she said. 

Accounting firm Ernst & Young vetted the nominees and ranked the companies by percentage of annual growth in sales or revenue. " They serve as an excellent example of the significant impact of USF alumni, locally, nationally and globally," said Bill McCausland, executive director of the USF Alumni Association. 

The majority of firms named to the Fast 56 are based in Florida, but a few are outside the state and one is in Canada, Kroeber said.  Ranked No.  1 was Arehna Engineering of Tampa, led by alums Sonia Florence (class of 1987) and Jessica McRory (2003 and masters of science 2004).  Next were SecurTest Inc.-The iReviewNow Co. of Athens, Ga., headed by Christine Millwee and Steve Millwee; and OhMyGov Inc. of Alexandria, Va., operated by Richard Hartman.  USF plans to make the FAST 56 an annual event. 

Nominations for the 2014 awards will begin this summer. 

Furniture Warehouse

Mark and Stephany Richmond both graduated from USF in 1977 with business degrees — his in marketing, hers in accounting. 

The Richmonds opened Furniture Warehouse 25 years ago, tearing down an old farmers market in Sarasota to launch their first store. 

They now operate five stores throughout Southwest Florida, with sales topping $20 million a year. 

Their education and business backgrounds blended perfectly to run the chain, Mark Richmond said. 

He is the advertising and merchandising expert.  She handles the systems and operations. 

"We had all the bases covered," he said. " The education was very important." 

The economic downturn hurt a number of furniture stores, whose fortunes are closely tied to the building and housing industries. 

But unlike many chains that shut their doors — among them Robb & Stucky — Furniture Warehouse spent the Great Recession years expanding.  It opened its fifth area location in Ellenton in 2011. 

"Adversity created the opportunity," he said. " People are looking for greater value in the marketplace, looking to spend less or buy down.  So we had a nice niche." 

While the USF education may have been valuable, it likely did not prepare Richmond for his work in front of a camera. 

Richmond's baritone is easily recognized in Furniture Warehouse's television commercials, which promise customers they will "Sa-a-a-a-ave Bi-i-i-i-i-i-i-ig." 

The family, meanwhile, has extended their USF ties to a second generation.  The Richmonds' son, Morgan, joined Furniture Warehouse four years ago after graduating from USF with an accounting degree.  His father said he is responsible now for the day-to-day operation of the business. 

"He really wanted to come in," Mark Richmond said. " He started in the warehouse, worked on the retail floor and the offices, and when he graduated college he was ready to go." 

David Dignam graduated from USF in 1988 with a degree in political science, picking up experience while working for then-Mayor Bob Martinez, in Tampa. 

After working on the mayor's successful gubernatorial campaign, Dignam returned to Englewood in 1989 to join his family's insurance business, where he is now president. 

Key Agency was founded in 1952 by George Dignam, David's grandfather.  His father, Tom, joined the agency in 1962 when the office was located on Manasota Key.  Today, it calls McCall Road its home base. 

Key now has offices in North Port and Boca Grande, as well.  It employs 41 and serves about 19,000 policyholders. 

"It's a challenging business, especially in Florida," said Dignam, 49. " It's an ever-changing career, and an ever-changing industry." 

Florida's roiling property insurance market is a big part of that challenge, he says.  He recalls Hurricane Charley in 2005, which roared through Charlotte County on its way up the state and caused hundreds of millions of dollars in property damage. 

"We processed over 3,200 claims," he said. " It affected so many folks, and some are really still recovering." 

Because Dignam hasn't forgotten his USF education or his experience with Martinez, Key brings in students to intern and learn about the business. 

"Insurance is not a normal product," Dignam said. " It's pretty much a necessary evil that you can't afford to live without.  It's all about customer service, and it's a very competitive field." 

Dignam isn't the only member of his family — or his business — to have attended USF, either. 

His wife, Laurie, earned a degree in nursing from USF in 1987 and works as a nurse in Englewood.  Three other USF grads work for Key Agency. 

Williams Wealth Management Group Inc. of Bradenton was one of the fastest growing of the businesses named to the inaugural USF Fast 56. 

Owner Derek Williams said his firm has grown 300 percent over the past four years, ranking it 18th among the 47 businesses tapped for the list. 

"We continue to be on a high trajectory, in part due to the market and in part due to our approach," said Williams, who graduated from USF in 2000 with a bachelor's degree in finance and management information systems. 

The firm's niche approach differs from other, similar financial firms in that it does not involve sales. 

"We're a registered investment adviser, different than a traditional stockbroker," he said. " Our focus is on providing individual service to clients, not selling products." 

A certified financial planner, Williams began working in the wealth-management business in 1996 with several small boutique investment firms. 

The Bradenton native formed his firm in 2007, and now has about 225 clients.  He is separately a registered representative of LaSalle St. Securities LLC. 

"Generating income in a low-interest-rate environment, and at the same time managing the expectations of individual investors and families, is a big part of what we do," he said. 

"I find that the worse things get, the busier we've gotten," Williams said. " There is more uncertainty out there today.  People are looking for a disciplined approach." 

For anyone considering work as a financial planner, he recommends a finance degree but also some psychology classes or other training to help understand clients. 

"You are dealing with people and their life savings," he said. " Building trust and being able to provide advice at that level — not all brokers and advisers can do that.  The ones that are successful, do." 

<p>Three diverse Southwest Florida businesses — an insurance agency, a furniture store chain and a wealth-management firm — now have more in common than just geography.</p><p>They have been named to an inaugural University of South Florida list called the "Fast 56," an honor roll of the fastest-growing businesses owned, or led by, school alumni.  </p><p>The Furniture Warehouse of Sarasota, Key Agency Inc. of Englewood and Williams Wealth Management Group, of Bradenton, were selected to be part of the initial group.  More than 200 companies were nominated for the Fast 56, so named because USF was founded in Tampa in 1956.  Forty-seven firms were chosen to be among the first-time honorees.  Nominations came from faculty, staff, alumni and the businesses' employees, said Rita Kroeber, a spokeswoman for the USF Alumni Association.</p><p>But to be selected, the businesses had to meet a list of criteria.</p><p>"They had to be owned or operated by a former student, had to be in business for a minimum of 36 months and had to have verified annual revenue of at least $250,000 for the most recent 12-month period," she said.  </p><p>Accounting firm Ernst & Young vetted the nominees and ranked the companies by percentage of annual growth in sales or revenue. " They serve as an excellent example of the significant impact of USF alumni, locally, nationally and globally," said Bill McCausland, executive director of the USF Alumni Association.</p><p>The majority of firms named to the Fast 56 are based in Florida, but a few are outside the state and one is in Canada, Kroeber said.  Ranked No.  1 was Arehna Engineering of Tampa, led by alums Sonia Florence (class of 1987) and Jessica McRory (2003 and masters of science 2004).  Next were SecurTest Inc.-The iReviewNow Co. of Athens, Ga., headed by Christine Millwee and Steve Millwee; and OhMyGov Inc. of Alexandria, Va., operated by Richard Hartman.  USF plans to make the FAST 56 an annual event.</p><p>Nominations for the 2014 awards will begin this summer.</p><h3>Furniture Warehouse</h3>
<p>Mark and Stephany Richmond both graduated from USF in 1977 with business degrees — his in marketing, hers in accounting.</p><p>The Richmonds opened Furniture Warehouse 25 years ago, tearing down an old farmers market in Sarasota to launch their first store.</p><p>They now operate five stores throughout Southwest Florida, with sales topping $20 million a year.</p><p>Their education and business backgrounds blended perfectly to run the chain, Mark Richmond said.</p><p>He is the advertising and merchandising expert.  She handles the systems and operations.</p><p>"We had all the bases covered," he said. " The education was very important. "</p><p>The economic downturn hurt a number of furniture stores, whose fortunes are closely tied to the building and housing industries.</p><p>But unlike many chains that shut their doors — among them Robb & Stucky — Furniture Warehouse spent the Great Recession years expanding.  It opened its fifth area location in Ellenton in 2011.</p><p>"Adversity created the opportunity," he said. " People are looking for greater value in the marketplace, looking to spend less or buy down.  So we had a nice niche. "</p><p>While the USF education may have been valuable, it likely did not prepare Richmond for his work in front of a camera.</p><p>Richmond's baritone is easily recognized in Furniture Warehouse's television commercials, which promise customers they will "Sa-a-a-a-ave Bi-i-i-i-i-i-i-ig. "</p><p>The family, meanwhile, has extended their USF ties to a second generation.  The Richmonds' son, Morgan, joined Furniture Warehouse four years ago after graduating from USF with an accounting degree.  His father said he is responsible now for the day-to-day operation of the business.</p><p>"He really wanted to come in," Mark Richmond said. " He started in the warehouse, worked on the retail floor and the offices, and when he graduated college he was ready to go. "</p><p>David Dignam graduated from USF in 1988 with a degree in political science, picking up experience while working for then-Mayor Bob Martinez, in Tampa.</p><p>After working on the mayor's successful gubernatorial campaign, Dignam returned to Englewood in 1989 to join his family's insurance business, where he is now president.</p><p>Key Agency was founded in 1952 by George Dignam, David's grandfather.  His father, Tom, joined the agency in 1962 when the office was located on Manasota Key.  Today, it calls McCall Road its home base.</p><p>Key now has offices in North Port and Boca Grande, as well.  It employs 41 and serves about 19,000 policyholders.</p><p>"It's a challenging business, especially in Florida," said Dignam, 49. " It's an ever-changing career, and an ever-changing industry. "</p><p>Florida's roiling property insurance market is a big part of that challenge, he says.  He recalls Hurricane Charley in 2005, which roared through Charlotte County on its way up the state and caused hundreds of millions of dollars in property damage.</p><p>"We processed over 3,200 claims," he said. " It affected so many folks, and some are really still recovering. "</p><p>Because Dignam hasn't forgotten his USF education or his experience with Martinez, Key brings in students to intern and learn about the business.</p><p>"Insurance is not a normal product," Dignam said. " It's pretty much a necessary evil that you can't afford to live without.  It's all about customer service, and it's a very competitive field. "</p><p>Dignam isn't the only member of his family — or his business — to have attended USF, either.</p><p>His wife, Laurie, earned a degree in nursing from USF in 1987 and works as a nurse in Englewood.  Three other USF grads work for Key Agency.</p><p>Williams Wealth Management Group Inc. of Bradenton was one of the fastest growing of the businesses named to the inaugural USF Fast 56.</p><p>Owner Derek Williams said his firm has grown 300 percent over the past four years, ranking it 18th among the 47 businesses tapped for the list.</p><p>"We continue to be on a high trajectory, in part due to the market and in part due to our approach," said Williams, who graduated from USF in 2000 with a bachelor's degree in finance and management information systems.</p><p>The firm's niche approach differs from other, similar financial firms in that it does not involve sales.</p><p>"We're a registered investment adviser, different than a traditional stockbroker," he said. " Our focus is on providing individual service to clients, not selling products. "</p><p>A certified financial planner, Williams began working in the wealth-management business in 1996 with several small boutique investment firms.</p><p>The Bradenton native formed his firm in 2007, and now has about 225 clients.  He is separately a registered representative of LaSalle St. Securities LLC.</p><p>"Generating income in a low-interest-rate environment, and at the same time managing the expectations of individual investors and families, is a big part of what we do," he said.</p><p>"I find that the worse things get, the busier we've gotten," Williams said. " There is more uncertainty out there today.  People are looking for a disciplined approach. "</p><p>Williams, 40, credits USF with providing a "hands-on, real life" education that helped advance his career.</p><p>For anyone considering work as a financial planner, he recommends a finance degree but also some psychology classes or other training to help understand clients.</p><p>"You are dealing with people and their life savings," he said. " Building trust and being able to provide advice at that level — not all brokers and advisers can do that.  The ones that are successful, do. "</p>