Fathers, Sons Form BurfordCaudle Family Capital
For the Burford Brothers personal financial services company established in 1984, one father and son team wasn’t enough.
Scott and Charlie Burford have partnered with father and son Craig and Corbin Caudle to form BurfordCaudle Family Capital, a division of Burford Brothers.
The new venture is officed at 7001 Preston Road, Suite 405, in University Park, at the intersection with Lovers Lane.
“This is a partnership my dad and I have dreamed of for almost two years now,” Charlie Burford said. “Craig and Corbin share the same father-son dynamics that Scott and I do, plus it is clear that their passion is fueled by extensive experience and a desire to help clients and support our team.”
Nice. But what’s the biggest challenge of working with your dad?
CHARLIE BURFORD: Because he is my dad, and he knows I love him, I can definitely be less cordial with him than I would a normal coworker. Meanwhile, he is much better at being patient with me. Fortunately, we navigate this by being quick to forgive and see the other’s point of view. At the end of the day, we always leave on a good note, even if we have a disagreement.
CORBIN CAUDLE: Sometimes staying quiet when my father is giving a response that I may disagree with but have to yield to because I don’t have the experience level that he does. I navigate that by being patient and doing my best to look at things the way he might.
What’s the difference between your relationship as father and son and coworker and coworker?
SCOTT BURFORD: At the office, our father/son relationship sometimes enters into the mix. But we largely leave business out of family gatherings. Someone wisely advised this from the beginning.
CRAIG CAUDLE: Funny enough, I think we have more patience and appreciation for each other’s point of view more as coworkers, and we certainly argue less at the office than we do as just father and son.
What made you want to work with your son, and how did you convince him it was a great idea?
SCOTT BURFORD: Besides the benefit of working every day with someone you love and trust, I thought Charlie would be happy doing what we do and that he had the tools to make our firm better. Other than a fair job offer, I don’t remember trying to convince Charlie to join our business. In retrospect, I should have made a more convincing offer!
CRAIG CAUDLE: Two things. I have watched him mature as an adult in the financial industry and was able to witness him applying his knowledge daily at a larger advisory firm where were worked together. I knew he was ready and qualified to make the move. Second, after speaking with my own father, who regretted not having the opportunity to work and build something together, I knew this was the time and opportunity to embrace that challenge.
What’s the biggest advantage of working with your dad?
CHARLIE BURFORD: Many of our business relationships were formed in my childhood or before. Therefore, our reputation carries through multiple generations. We think this allows clients/multi-generational families to trust us and work with us long-term. Our age difference also helps clients get comfortable with the experience and potential longevity on their side. We have worked together for nine years now, and it helps to know each other’s strengths and what the other may say in a given situation.
CORBIN CAUDLE: The ability to operate with an even larger amount of trust and respect than you might have with a normal coworker. This allows us to be stronger as a unit, never having to second guess or question each other’s intentions.
What’s the best advice you ever got from your father?
CHARLIE BURFORD: From a business perspective, the two concepts that always echo in my head that I learned from dad include: hard work counts and snowballs into opportunities, and he has taught me to be religious about putting our clients first. Personally, set the example daily on how to treat others – family, friends, clients, employees, strangers.
SCOTT BURFORD: Developing relationships is all-important.
CRAIG CAUDLE: Never quit
CORBIN CAUDLE: That character is everything, and you should do everything in your power to treat everyone with love and respect.
What advice would you give to other fathers and sons who go into business together?
CHARLIE BURFORD: Extremely important for us to commit to separating business and personal. When we are at Easter brunch or Christmas dinner, I think of him as dad and not my business partner. I think this is very important.
SCOTT BURFORD: Same as most other relationships – don’t take yourself too seriously.
CRAIG CAUDLE: Be objective about each other’s strengths and weaknesses before forming the partnership
CORBIN CAUDLE: Be sure to effectively communicate and agree on your expectations for one another.
