By Lauren Pierce
SENECA â Local Financial Advisor DAvid Adrian’s favorite part is helping people plan the next steps in life, like saving for college or planning for retirement.
Adrian has sought to help others with their investments, working from his office at 501 Rochester Highway through the nationally renowned Edward Jones Investments firm which celebrates 100 years this year.
âMy practice is more about trying to do planning, as opposed to the advisors that are out there who are just brokers now. So I have very deep relationships with my clients, and that takes a lot longer,â he said. âThat means we meet several times a year â at least once a year. We have a lot of phone conversations throughout the year where we make changes within portfolios, do rebalancing, things like that, have conversations when the market crashes, you know, to help people when their emotions start to take hold of them.
“I want every client that I decide to hire, or choose to work with me, to be able to say in five, 10, 15, 20 years that my life – my financial life – is better, because I decided to work with David,” Adrian added of the 250 households he works with. “That’s the main thing. That’s what it’s all about.”
He said Edwards Jones is considered “a conservative business”.
“Our bread and butter is the retirees, so we’re not trying to get people rich quick,” Adrian said. “It’s money that has a purpose. We’re not going to play with it, but customers will let us know how many ups and downs they’re willing to take. So we still believe in this buying strategy. and long-term holding, but we are also looking for opportunities in the market.
where it started
As a 17-year-old high school student, Adrian was introduced to the idea of ââsaving for retirement when his teacher offered extra credit to students who opened a Roth Individual Retirement Account (IRA).
“At that point, I’ll be the first to admit that at 17, I didn’t really want to start planning for my retirement,” he said. “But once I got into college and started to really know how to study high levels of math and things like that, and looking at compound interest, I realized what that professor had done for me.
“When I started seeing starting at an early age, investing money and then letting it go for the rest of my life, turning into millions and millions of dollars…that’s kind of what which sparked the passion for, ‘OK, there are other people out there who need help with this stuff,’ because unfortunately they don’t really teach it,â Adrian added.
“A team approach”
Adrian’s branch administrator, Kris Tompkins, has worked for Edward Jones for about 12 years now.
âShe moved to this branch in January 2018 and the customers love her,â Adrian said. âShe gets to know them like I know them. It’s not just me who has a relationship with these clients. She knows our clients, she knows their children, their grandchildren. She knows what’s going on in their lives, if there’s big things going on, sad things, whatever. It really is a team approach. It’s not just me, it’s her and me, trying to make a positive change.
Due to the conflicts between Ukraine and Russia and high interest rates at the federal level, the markets have become “bumpy”, Adrian said.
“We have a lot of people right now who are anxious, you know, because the market has kind of been steadily pulling back,” he said.
Adrian said with first dates they can âset expectationsâ to help.
“We let our clients choose the path they want to take based on the ups and downs they’re willing to take with the market,” he said. âBut still, when the markets are doing well, you don’t have emotions around these things. So even if you say, “Oh yeah, I’m comfortable with a wallet that goes up and down X amounts,” when that actually happens, it can be difficult.
“They say it’s sometimes part of a financial adviser’s job to help people talk about it,” Adrian added. âWe wear a lot of different hats, and sometimes we have to wear the adviser hat just to help people put things into perspective. Nobody has a crystal ball for how it all happens, but we do know what history is doing when we walk through these markets.
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