>> Jeffery [inaudible], I represent
the Principal Financial Group
and my official title is
Financial Services Professional.
What that job entails is I make sure
businesses, Institutions, and individuals meet
and achieve their financial objectives.
For businesses that's executive
conversations and retirement plan,
for institutions its asset management for
their foundations and for individuals,
its individual financial planning; making
sure that they don't outlive their retirement.
When I talk with some, I kind of find out their
current financial situation, for the individual,
what are your goals, what are you objectives
and I kind of prioritize them for them.
I'll also find out where you at right
now, let's take a snapshot of where you're
at today, and where do you want to go?
The same things with businesses, where you
at right now, do you have anything in place?
What is that you want to accomplish?
And once I gather that information, then I
can start analyzing and prioritizing for them.
I think with most people it's that no one
really plans to fail but they fail to plan.
And so when I'm talking to them
it's like, do you have a plan?
And most people they have somewhat of an
idea but they really don't have a strategy
so [inaudible] is to help them
to build up that strategy.
Well, a conversation can work in two ways.
The conversation will work if I provide advice,
then I can charge a client for that advice
or the way I typically like to
work is I like to give you advice,
prepare for you a financial plan or strategy,
and then if you decide to implement that plan
or strategy, let's say purchase insurance or
securities, then I'm compensated from that end.
[Pause] This is definitely challenges,
this is one of the most challenging
and rewarding positions I've had.
I think some of the biggest
challenges is building trust.
In any profession all it takes is
a few unscrupulous professionals
to dirty up the water for everyone.
So, even though I'm a high
integrity person, establishing trust,
once you have that relationship with
someone, then you can move forward.
I think the next big challenge is whenever
you managing money, the expectations are high.
People are very passionate about
their future and their livelihood
so there's a very small margin for error.
Now [inaudible] always work out the plan,
but you've let them know there's been a dip
in the market if something coming down the
line, then they're more willing to adapt to it
and I think the third big challenge is
the financial markets are forever changing
and also the legislative environment
is changing so you have to stay abreast
of what's taking place on a regular basis.
I find that quite often one of the rewarding
parts of this job is helping people maneuver
through the uncertainty and so a lot of
people don't know necessarily where to go.
There's a lot of bad advice
and there's also good advice.
I pride myself on doing research, understanding
what's available, and then not only giving
that information to my clients
but educating them as well.
I want to enlighten them, it's
not about let me manage your money
and put this strategy together.
Let me manage your money, put this
strategy together and also enlighten you
so you can pass this information on to maybe
your son or daughter or to your neighbor.
There's two main things I like about the job.
I think the first one is that I
have total control over my life.
I make my schedule.
So if there's something I want to spend
time with my children, or wife, or friends,
or family or there's an activity
I want to do for myself,
I can schedule that around my career.
If it's volunteering for community service,
or civic activity, then I can do that.
The other part about it is
it's unlimited income.
It's not often you can have a position where
you can make it one day, what would require them
to make in a year or a quarter, or a
half-a-year, the unlimited income potential
and the flexibility of controlling
your lifestyle.
[Pause] There's numerous financial publications
out there but I probably save my two favorite,
The Wall Street Journal and
also the Economist Magazine.
They will give you an idea about
what's happening politically,
globally which also affects economics,
you can also find out all the information
about the financial markets, new
products coming down the line
and those two are very good resources
to educate yourself on as far
as business markets are concerned.
Business and Financial Management
with Modern Economics,
which allowed me to study how the economy works,
also the Financial Management allowed me to look
at the financial markets and
understand PNLs as well as marketing.
I took those classes which business
has a lot to do with marketing.
You have to reach out and grab ahold
to your clients or your customers
through media, print, or verbal communications.
So definitely the business management degree
prepared me for a career in financial services.
[Pause] I have a football academics
scholarship to West Virginia Tech
and I majored in Business Management.
While I was there, there was a particular
class I had was Financial Management
and this particular course, the Professor
wanted us to pick several stocks,
we had like an imaginary amount
of money, it was $10,000.
So we had to pick some stocks
and then at the end
of the semester we would
tally and see how well we did.
Well, I did extremely well and I was
like you know what, this is exciting.
You know I think I would like to do this for
a living, so that planted a seed in my mind
to look at pursuing that particular
career and that's exactly what happened.
My first job out of college, I worked
[Inaudible] Financial Group Mutual Funds
from the Washington, DC area
and that started it.
From there I did that for a while, it was very
tough because it was a straight commission job,
I was just out of college and we know
college students, they're typically not--
they don't have a lot of
income when they come out.
But from there I went into a Branch Management
position with Norris Financial in Consumer
and Credit Lending, spent four years there.
Also sold insurance on my loan products,
also spent 8 years as a Regional Director
of Operations with another consumer finance firm
and at the whole time I kept thinking I
would love to get back into my first love
which was investing and insuring money.
And so I made that happen.
[Pause] I feel a little philosophical, I
know we've talked a lot about business here
but I think three points I'd like to leave
young people with and the first point is this,
you will be like the people
that you associate with.
It's very important to have
like-minded successful people
around you and choose wise council.
Number two, ultimately, you're outcome in
life will be based on decisions that you make.
When it comes down to it, your
success or failure will rely with you.
And then the third point is this, and it's my
favorite, you will ultimately give an account
of everything you've done, to somebody
or someone whether good or bad.
So make good decisions.