Review: The King of No by Loyall Wilson

In a perfect world, we could trust those to whom we open our lives, but when it comes to money, it truly can be the root of all evil. In The King of No: A Financial Firefighter by Loyall Wilson, the author takes us through a series of personal anecdotes from his time as a Chief Compliance Officer of a large investment firm. Wilson’s position meant that he was on the front lines of defending against fraud and financial crimes, and was able to form relationships with people whose lives and trust were damaged – or nearly destroyed – by the greed of others.

Over the course of his career, Wilson investigated dozens of major cases and saved people millions of dollars – often their life savings – by catching the small errors and inconsistencies that trip up potential criminals, as well as the glaring missteps of amateurs. Whether it was detecting checks that had their “pay to” lines altered or noting when a low-level employee suddenly had an inexplicable amount of disposable income, Wilson has an eye for justice and a keen sense for deception.

Many people might feel that finances simply go above their head, so having a financial advisor or passing control to a seemingly innocent professional may initially feel like a godsend, but as this books lays out, that doesn’t always mean your money is safe. It’s a daunting message, but a necessary one, as Wilson reveals. Being let in on the secret makes for compelling reading, even if the content can sometimes be cringe-worthy.

For being a financial professional, tasked with managing numbers and handling money, Wilson has a surprisingly articulate pen when it comes to storytelling, which makes this book far less dense than one might expect. He is able to translate relatively mundane financial procedures into interesting stories that are focused more on the people involved than the money improperly changing hands. The different cases that he details in these bite-sized chapters are fascinating looks inside the world of financial crime, revealing not only the ease with which some people will take advantage of a vulnerability, but also the lengths that good men and women will go to prevent such heinous behavior.

Focusing mainly on the different avenues of financial crimes, the book also delves into more human issues of trust, family, betrayal, business risks and greed. While Wilson doesn’t expound broadly on these more abstract topics, these concepts are everywhere in this book, and the author is clearly sensitive to the underlying human nature that operates within his field. Rather than simply laying out the details as a boring, repetitive cautionary tale for would-be investors, or those who are considering getting a financial advisor, the author slowly draws readers into each anecdotal story with character development, humor, and insider knowledge that makes the dialogue insightful and entertaining.

All told, Wilson is able to spin quite a few suspenseful tales, illuminating the deceit, lies and mistakes of criminals across multiple decades, as well as the impact these financial crimes have on the victims. A well-penned cautionary tale, The King of No honors Loyall Wilson’s years of work in a compelling, easy-to-read and timely professional memoir.