Lessons in Wealth and Success: Paul Carroll’s Journey to Building Avion Wealth
Success is rarely a straight line. For Paul Carroll, CEO and Founder of Avion Wealth, it was a journey of risk, resilience, and strategic thinking. In a recent interview with Adam Sarhan on the Smart Money Circle podcast, Paul shared his story—from arriving in the U.S. as a teenager with only $200 and a toothbrush to managing approximately $850 million in assets today. Along the way, he learned critical lessons about wealth management, risk mitigation, and the importance of making strategic decisions.
A Journey Rooted in Resilience
Paul’s path was anything but conventional. Born in Dublin and raised in England, he came to the U.S. at 17 with little more than ambition. When he ran out of financial runway, he enlisted in the U.S. Air Force, where he earned a business degree. He then pursued a master’s in finance from Texas A&M, setting the foundation for his future career.
After a stint at Smith Barney, Paul sought a career in aviation, investing time and money into becoming a pilot. Yet, after September 11th and subsequent airline industry downturns, he found himself in need of a new plan. Rather than succumb to uncertainty, he pivoted—launching Avion Wealth from the ground up.
The Key to Success: A Client-First Approach
Unlike many firms that focus on sales, Paul built Avion Wealth with a different philosophy. His team prioritizes professionalism, financial expertise, and a holistic approach to wealth management. Their core mission:
- Protect client wealth
- Mitigate taxes
- Ensure smooth estate transitions
- Shield assets from unjust claims
- Maximize charitable giving impact
This client-first focus allowed Avion Wealth to grow through referrals and reputation, ultimately becoming a twenty-year overnight success.
Timeless Investment and Risk Management Principles
One of Paul’s fundamental beliefs is that emotional decisions are the enemy of smart investing. He emphasizes the importance of:
- Avoiding Concentrated Risk: Too many investors over-commit to a single company, industry, or idea. “No more than 5% of your wealth should be tied up in any single investment,” Paul advises. Even a great company can experience downturns—Boeing being a prime example.
- Balancing Confidence with Caution: While belief in an investment is necessary, unchecked optimism can be dangerous. “Belief does not guarantee success. If you can’t afford the downside, you can’t afford the investment.”
- Acting with Immediacy: Whether making an investment, hiring an employee, or exiting a bad situation, delaying action often makes things worse. “As soon as it’s clear something isn’t working, act on it. Holding on out of fear or pride rarely ends well.”
Failure Is Only Failure If You Learn Nothing
Paul’s perspective on failure is refreshingly pragmatic. To him, setbacks are an inevitable part of life and business, but true failure only occurs when no lessons are learned.
“If you succeed, great. If you fail, but learn something valuable, that’s tuition. The real loss is repeating mistakes because you refused to analyze what went wrong.”
He encourages a structured approach to decision-making, including documenting key choices and reviewing them later to assess their effectiveness.
Advice for His 30-Year-Old Self (And You)
When asked what advice he would give to his younger self, Paul emphasized hedonistic adaptation—the human tendency to keep chasing more without ever feeling satisfied.
“There will always be someone richer, with a seemingly better life. You can’t win that race. What you can do is live life now. Build a financial plan, follow it, but don’t delay happiness. Don’t wait for retirement to enjoy your life.”
Final Thoughts
Paul Carroll’s journey is one of calculated risks, adaptability, and unwavering commitment to his principles. His experience in both aviation and finance has taught him that while markets and careers can be unpredictable, strategic thinking and a strong foundation will always provide a safe landing.
For those looking to secure their financial future, his advice is clear: Make decisions with intention, diversify your risk, and never let fear prevent you from taking action.
Special Thanks
A special thank you to Adam Sarhan for hosting Paul Carroll on the Smart Money Circle podcast. Smart Money Circle features interviews with top financial professionals, business leaders, and investors who share their insights on wealth-building strategies. Check out more episodes here.
Paul is the founder and CEO of Avion Wealth, LLC. He leads a team of wealth managers in building and executing financial plans for high net worth individuals and families. Contact Avion Wealth to speak with a financial advisor.
