Today we’d like to introduce you to Peter Eckerline.
Peter, we appreciate you taking the time to share your story with us today. Where does your story begin?
I’m one of five kids and grew up in Ladysmith, a small town in Northern Wisconsin. I worked summers as a short order cook at the A&W drive-in and lifeguarded at the town beach. When I was 12, a local banker gave me my first real job sweeping floors at his bank. I knew I’d go to college—my parents were big on education—but hadn’t given much thought beyond that. When a friend invited me to visit UW-Eau Claire, I tagged along. It was the only school I visited, but I loved it immediately.
I studied business and became fascinated with finance and investments. I ran track and cross country, and though I wasn’t as talented as many teammates, I found my niche in racewalking—the team needed someone in that role to score points at meets. My older brother Mark was a broker, which further influenced my career direction.
I graduated at 21 but looked even younger, so I decided to stay for an MBA with a finance emphasis. After graduating, I moved back to Minnesota where my parents had relocated. My mother was dying of cancer and my father traveled extensively, so I moved in to care for her and get her to doctor appointments. Each morning while she rested, I sent resumes to brokerage firms in Minneapolis and St. Paul. I got a lot of rejections. Most said I needed sales experience first. “Get some experience and come back” was the standard response.
Then my brother Paul heard something on the radio about peepholes—how townhomes and condos were being built without them. I realized this was my chance for sales experience. I’d go out for a couple hours each morning, going door-to-door to install peepholes. I bought them for $3 and charged $15 to install. The rejection rate was high, but I usually installed a couple per hour.
That story about that business landed me a broker trainee position at Merrill Lynch. The manager at Merrill Lynch loved it! It launched a wonderful 39-year career where I grew my practice and became nationally ranked. I’m most proud of the team I built and the advisors I mentored who went on to great success of their own.
Can you talk to us a bit about the challenges and lessons you’ve learned along the way. Looking back would you say it’s been easy or smooth in retrospect?
I’ve had both personal and professional struggles.
Early in my career, I faced a difficult period caring for my mother who was dying of cancer. Losing her was incredibly hard, but that experience taught me resilience and the importance of family.
Years later, I had open heart surgery, something I was born with, a bad valve, but the surgery was serious. I remember some of my teammates helping me change dressings when I came back to work! That experience reminded me how lucky I was to work with people who genuinely cared.
Professionally, there have been challenges along the way—volatile markets, the 2008-2009 financial crisis which tested everyone in the industry, and various management changes over 39 years. A few years ago, I was approached about retirement and decided to accept the offer. However, I found that while I enjoyed golf, pickleball, travel, and fishing, I missed the markets and making an impact on people’s lives.
When my non-compete ended last fall, I came back to work and joined RBC Wealth Management, and I’m very happy to be back! It’s a terrific firm with a great culture and people. What I love most is being part of my clients’ major life events- weddings, births of kids and grandchildren. They’ve become friends, and I’m excited to be working with them again and making a difference in their lives.
Thanks for sharing that. So, maybe next you can tell us a bit more about your business?
My group is called Eckerline Wealth Management, and so far, it’s just me and two assistants, but we are growing fast. We specialize in providing wealth management to the people we work with, which means extraordinary service coupled with solid advice from over 40 years in the financial markets. Our clients are individuals and families, businesses, and foundations, and we work with them to solve complex financial issues they face. The investment part of it is extremely important, but the advice on helping them live the life that they want is equally important. In addition to mentoring younger advisors, I also provide advice through television appearances and other media about the markets and a career in the advisory business. My door is always open to younger advisors, and they know they often come to me for advice and guidance.
What do you like best about our city? What do you like least?
I have worked at different offices in the Twin Cities, but especially love Wayzata, where I am currently located. I have lived in the Wayzata/Orono area for over 40 years but moved my office this way about 15 years ago. It was a good decision for me and my clients. It is close to my home so I can stop in off hours if I need to do something for a client, and it’s easy for clients to get to and they love to come this way with all the great restaurants in Wayzata! I love the change of seasons in Minnesota along with the various outdoor activities that go with those. Cabin time in the summers, with some Twins baseball mixed in, and the great Fall weather with the Vikings, Timberwolves and Wild! It would be nice if the winter was a little shorter, but it’s fun to break that up with a trip to a warmer climate.
Contact Info:
- Website: https://us.rbcwealthmanagment.com/eckerlinewm
- LinkedIn: https://www.linkedin.com/in/peter-eckerline-crpc%C2%AE-cpfa-mba-1975a211/
- Other: https://www.rbcwealthmanagement.com/en-us/
