The Story of McClarren Financial Advisors: From a Desk in the Back to a Trusted Name in Financial Planning
In the 1980s, Jeff McClarren worked as an investment analyst at a local investment firm, where he experienced firsthand the volatility of the stock market. As the market declined and layoffs became more common, Jeff began to question the long-term stability of his career, especially since the firm's revenue was tied closely to assets under management. Seeking a more dependable path, he approached his boss with a bold question: “If I start a tax preparation business on the side, will I be fired?” Fortunately, the answer was no—and so began Jeff’s first entrepreneurial step.
He launched a local tax office while continuing his full-time job. For several years, he worked grueling hours, often into the early morning hours, balancing two jobs and a young family at home with three children. During tax season, Jeff found himself fielding financial questions from his tax clients—questions that sparked a deeper interest in financial advising.
What Jeff knew for sure was that he didn’t want to sell products. He believed in a different kind of financial advice—one that was objective and client-centered. Around this time, the fee-only model of financial advising was starting to gain traction. Jeff decided to pursue the CERTIFIED FINANCIAL PLANNER© certification, a process that took him three years while he continued juggling his work and family responsibilities.
A pivotal moment came when he read an article in The Wall Street Journal about a man who was pioneering the fee-only model through a group called Cambridge Advisors (now the Alliance of Comprehensive Planners). Jeff immediately saw alignment in their philosophies and thought, “This is something I could do.”
In the summer of 1999, Jeff took the leap. He left the investment firm he worked for and founded McClarren Financial Advisors (MFA). His first task? Convincing state regulators that his new business wouldn’t collapse during the much-hyped Y2K scare. MFA’s first office was a single desk tucked in the back of his tax office.
By the following year, MFA moved into the Match Factory in Bellefonte, Pennsylvania. But starting a firm was only half the battle—how do you get clients? Jeff discovered NAPFA, an emerging network of fee-only advisors, and quickly joined. MFA became the only fee-only advisory firm between Philadelphia and Pittsburgh.
Unlike many advisors at the time, Jeff was also willing to work with middle-income families. One of his earliest clients was the family of Ruby, who later joined MFA herself—something Jeff had encouraged her to consider from the age of 12.
The early years weren’t easy. Jeff had to dip into his savings to keep the firm afloat. He began traveling to Harrisburg, renting office space by the day to meet with clients—a move that eventually led to a permanent office in that region, which MFA still uses today.
While working with Cambridge Advisors, Jeff would do mock appointments with proctors. By his own admission, he failed miserably at first. As an introvert, the spotlight wasn’t always comfortable. But Jeff leaned into two of his greatest strengths: he was an exceptional listener, and he had unwavering perseverance—his livelihood depended on it.
As the business grew, so did the team. First came Lisa, working two days a week in admin and tax prep. Then Brenda joined full-time in an admin role. Shortly after came Jen, who started part-time and has now been with the firm for 18 years. Jeff still jokes that Jen was “the most normal-looking person” he interviewed—and that he was a little scared of her. (He still is.)
Greg was the next addition, brought on as a full-time advisor. His first office space was lovingly referred to as “under the stairs”—though it was technically a shared nook with the community fridge, filing cabinets, and the fax machine. A few years later, Greg’s friend Brandon joined the team. Jeff could tell Brandon had been well-coached for his interview.
Over the years, MFA has welcomed many more exceptional team members. Together, they helped the firm grow, evolve, and uphold the values that Jeff instilled from the very beginning.
Now, after more than 26 years, Jeff has stepped back from day-to-day involvement, but his lessons and legacy continue to guide the firm. He’s shared several key takeaways from his journey:
- Trust the Process: Success doesn’t happen overnight. But Jeff strongly believed that the fee-only model would work and its use has been an integral part of helping many of our clients be successful in achieving their investment and personal goals.
- Value Your Clients: Clients share their life stories and deepest financial fears. You might be the only advisor they ever have. Give them your full attention.
- Protect Your Integrity: Early in his career, Jeff made a costly trading error. Rather than hide it, he reimbursed the client in full. That same client is still with the firm today and has referred many others.
- Care About Your Team: The people you work with matter. Enjoying your colleagues and building strong relationships makes all the difference.
From a single desk in a tax office to one of the region’s most respected fee-only firms, McClarren Financial Advisors is the result of vision, grit, and a deep commitment to doing the right thing—for clients and colleagues alike.
Jeff Today
Jeff is making the most of his extra free time by traveling the world with his wife and running races as well as spending quality time with his grandkids!
