What kind of support do you
receive from Securities America
and the financial institutions team?
We have always received great support from
the team at Securities America. Any time we
have ever needed anything they are right there
to help. David Perez and Zach Porter have
always gone above and beyond to provide
assistance. Our office can not say enough
good things about these individuals and as
well as the entire financial institutions team.
Where do you see your practice
in the next three to five years
We have always felt that trying to predict the
future in this business was a fool’s errand. If
you would have showed me today’s business
mix five years ago, I would have said it wasn’t
possible. In my opinion, with all the regulatory
and business changes that may or may not
happen, plus the ones we don’t even know
about, make it difficult to predict anything in
our industry. I feel like our focus will continue
to be on advisory/trail business and working
to retain our clients.
Describe the role technology
plays in your practice.
We are not really a technology-heavy firm. I still
like to use a yellow legal notepad when I meet
with clients. Our office uses Redtail to track
client workflows and meeting notes. We also
use Albridge to produce client reports.
What demographic are the
majority of your clients
(i.e. farmers, baby boomers,
white collar/blue collar workers)?
Most of our clients are of the baby boomer
generation and older, which is reflective of our
local demographic. We are in rural locations,
so the majority of our client base has some
connection to the farming, oil or coal industries.
As advisors, we are
the ones accountable, not
the talking heads on TV, radio
or blogs. We must be able to
look our clients in the eye with
the personal confidence that
we provided the very best
service based on our
with that client.
What are the most significant
and beneficial business practice
or strategic focus changes you
have made to your practice in the
last 12 months? How have they
impacted your business?
Transitioning a portion of our business to advisory
accounts has allowed us to focus more on the
relationship development aspect of client service
rather than providing strictly transactional service.
I feel this has helped strengthen client trust
because we aren’t always calling and trying to
make a sale.
What advice do you have for
other advisors in the industry?
I would tell anyone in the industry to always
do what you feel is best for the client and the
relationship you have with them. It might not
always be what the client wants to hear or be
immediately profitable for the advisor. However,
educating the client beyond what they may have
been exposed to on TV, radio or internet is critical
to providing true financial advice based on their
personal situation. As advisors, we are the ones
accountable, not the talking heads on TV, radio
or blogs. We must be able to look our clients in
the eye with the personal confidence that we
provided the very best service based on our
professional experience with that client.
4 th QUARTER 2018 | Financial Institutions Newsletter 8