PRIME LIVING
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Nick Daddona, the owner of Southcoast Insurance Group and Southcoast Financial Group, is ready to answer your tough questions.
Earning your trust
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he Fall River native (BMC Durfee Grad) and business major from Saint Anselm College, started his businesses because he knows how daunting it can be to plan for an uncertain future. “I wanted to offer a product and service that I was proud to stand by,” he says. “No matter what your situation is or your goals are, my teams and I will lay things out in a straightforward, easy-to-understand way, with your concerns, obstacles, and goals as our first priority” The young entrepreneur sat down to discuss where he’s been, where he’s going, and what he’s learned along the way.
Who are you? Well, I’m a husband and a father before I’m a business owner. My proudest accomplishment is my family: my beautiful wife, Lucy, and two children, Charlotte (4) and Elliott (16 months). They are my everything. If Covid could have a silver lining, it was that the world slowed down and I was able to step back from my busy schedule and appreciate the little things with my young family. But that focus on family informs my professional life as well. Whether we’re discussing insurance or financial planning, the bottom-line concern for many of my clients is the wellbeing of their family. I couldn’t be more sympathetic to that, and I strongly believe that a true connection with my clients guarantees an unparalleled experience.
How did your businesses get started? I spent years working for national companies, and while it was a great way to learn how the corporate side worked, I didn’t like everything I saw. Cookie cutter insurance products, and especially investment portfolios, weren’t helping anyone but the companies’ bottom lines. So I took all that experience I had accrued and decided to add that secret ingredient you can only get from a small business: always putting the client’s unique
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needs first. The results speak for themselves. We’ve been hugely successful and are building two of the fastest growing companies in the region.
What exactly do you offer? On the insurance end, there really isn’t anything we don’t cover. Personal insurance, commercial insurance, life insurance, you name it. We’ve spent years cultivating relationships with multiple companies to make sure that our clients can get the coverage they want for the best price. We take every opportunity we can to provide extra value. At Southcoast Financial Group, we believe in what I call the “Three C’s”: Comfort, Confidence, and Control. First, you have to be comfortable with whom you do business – there needs to be a mutual respect. We are there to uncover and solve your problems, but we see a lot of financial firms don’t like asking the hard questions because it’s uncomfortable. We ask those questions, because if we don’t, we are not doing our job. Confidence comes from having a plan that you understand. It doesn’t matter how many times we need to stop and re-explain things – we will and we do. As for control, we want the client to always feel as though (and for us to constantly remember) that their money is their money, not ours. Unfortunately, many planners lose sight of that fact. We’re here to help solve your problems and lead you to make good informed decisions but this is your hard-earned money. You control it. In both businesses, the underlying value I instill in all my employees is that continued business has to be earned. More than anything else, I look to grow both my teams and client base with honest, trustworthy, hard working people. For my teams, skills can be taught, but values and morals cannot be. Beyond that, we believe everyone’s financial situation is unique
