FINANCIAL E
veryone has long-term financial goals, but not everyone has the time or economic literacy to navigate the landscape of personal finance. That’s where financial professionals come in. From bankers to insurance reps to wealth advisors, these experts have the knowledge to help locals make better decisions, build wealth, and secure a financially stable future.
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Wealth Management Department
FINANCIAL
FirstBank Southwest
What kinds of services does your team provide? The Wealth Management Department at FirstBank Southwest provides Trust and Estate Management, 401k Retirement Plan Services, and Investment Management for Agency and IRA accounts. What is your bank’s investment philosophy? We believe prudent, long-term investing is key to achieving your financial goals. We work to construct efficient, multi-asset class portfolios. This means we are building balanced, well-diversified investment strategies. Markets can be unpredictable, so we are focused on things we can control—such as diversification, understanding that risk and reward are connected, staying focused on the long term and keeping expenses, turnover and taxes as low as possible. Putting these things first allows us to reduce the volatility of our portfolios and realize financial success. What sets your business apart from competitors? As a trust company, we are held to the highest level of standard: the fiduciary standard. We always put the client first. We are not commissioned salespeople, which allows us to have complete objectivity. As a local community bank, FirstBank Southwest can make swift decisions, and we devote the time to provide the customer service our clients deserve. Related to your expertise, what are the most common financial challenges you see for local residents? One of the most common challenges is simply getting started. Taking the first steps in your investment journey can be the most difficult. For some people, that means putting together a budget that allows them to save and invest for the future. For others, it is deciding how much to contribute to their 401k. My advice is get started and gradually work upward toward the ultimate goal. Market volatility is another challenge. The ups and downs of the market can make investors nervous. We are dedicated to building each client portfolio based on an appropriate risk level. We can’t always predict the next market downturn, so we want to be prepared in advance. The intent is to help our clients weather the downturns so they’re in the markets when things improve.
TODD WETSEL, INVESTMENT OFFICER
What’s one simple step in financial planning you often recommend? Stay disciplined. Markets can be volatile, but that’s why they have higher long-term returns. As simple as it sounds, you must be in the markets to achieve market returns. Don’t sacrifice long-term results by panicking or looking for temporary relief. Stay the course. What should a client look for in a financial advisor? A financial advisor should have experience with a variety of markets, as well as experience with clients that have similar needs and goals as you do. Advisors should communicate regularly and be able to explain in layman’s terms how market events will impact your portfolio. They should provide complete transparency about their fee structure and any potential conflicts that may exist.
8 0 6 . 322 .7241 | F B S W.CO M
Leslie Massey
Farmers Insurance
FINANCIAL
What are your focus areas? We offer a variety of life insurance solutions to fit your specific needs and budget, including term life insurance and more permanent coverage plans, such as Farmers Index Universal Life. What training have you completed? I have been offering life insurance since I started my agency in 2009. As life insurance agents with Farmers, my team and I are required to stay current with training on the products we offer. Our life and financial licenses require continuing education, as well. What sets you apart from competitors? We genuinely care about our clients. We often see our clients after they’ve experienced a loss, and we are here for them. We take time to explain coverage options so our clients understand the policy they’ve chosen. We recommend coverage designed to give them the best protection in case something unexpected happens. And, we are dedicated to giving back to our community. I think that resonates with people. Related to your expertise, what are the most common challenges you see for local residents? Many people think that life insurance is expensive and a hassle. The application process has been streamlined and many policies are issued without requiring an underwriting exam. There are different types of policies to fit the needs and budget of our customers. What’s one simple piece of financial advice you find yourself sharing often? Get life insurance while you are young and healthy, and make sure the premiums are paid so the coverage doesn’t expire! Review your policies and your beneficiaries on a regular basis to make sure your coverage is up to date with your family’s needs. What might surprise people about what you do? Life insurance can have living benefits. There are policy options that can help save for a tax-free retirement or fund a business buy-sell agreement. My team is always happy to explain these options.
2700 S. WESTERN, SUITE 700 806.352.7388 FA R M E R S A G E N T. C O M/ M M A S S E Y [ SPECIAL ADVERTISING SECTION ]
FINANCIAL
Matt Ramsey
Senior Investment Officer
Amarillo National Bank What are your focus areas? Our main focus is leading clients to success. We do that by knowing our clients and by knowing their goals. Most people have retirement among their goals—they wonder if they have enough. Others wonder about to whom and how they should leave their wealth. We help them answer questions like these confidently. What certifications have you earned? In 2006, I earned the Chartered Financial Analyst designation. What sets you apart from competitors? Our ownership structure sets us apart. From the top down, we are centered around clients’ needs, not quarterly profits. This shapes the way our investment offerings are built. Related to your expertise, what are the most common financial challenges you see for local residents? People struggle to prioritize the funding of their retirement. Oftentimes, they don’t have a plan. We also see that people find it difficult to go from saving and accumulating assets—like they have done their whole lives—to living off those assets and passing them on to the next generation. What’s one simple piece of financial advice you find yourself sharing often? We often tell people to be deliberate with their decisions and to ask questions until they fully understand the task at hand. Having a plan that you understand and working with someone you trust to help you execute that plan are keys to financial success. What might surprise people about what you do? The financial markets and the economy are not as random as people think. There is a method to the madness. Like with most things, experience and the right tools can help make a daunting task achievable.
806.378.8000 | ANB.COM
Wood Financial
FINANCIAL
What kinds of services does your firm provide? We provide financial planning and investment advisory services for individuals, small businesses, and nonprofits. We serve thousands of clients in multiple states—from teenagers starting their first investment account to sophisticated investors with generational wealth challenges to small businesses in need of retirement plans. What is your firm’s investment philosophy? Ultimately, our goal is to increase every client’s level of financial peace. We accomplish that goal primarily through education and transparency regarding available options, fees, risks, rewards, etc. What sets your business apart from competitors? We try to differentiate in a couple areas. We strive to strike a balance between old school and cutting edge. We listen to podcasts, watch YouTube videos, read books, listen to economists, and do our best to keep up with the latest trends in investing. However, we mostly communicate our findings with our clients in person. We work to be the most educated, most accessible, and most transparent financial planning firm out there. What are the most common financial challenges you see for local residents? Procrastination. I can’t think of a single 50-year-old I’ve met who didn’t wish they’d started getting serious about their money sooner. When it comes to the financial planning process, we see two common issues that cause people to procrastinate. The sheer volume of information available these days overwhelms even the most financially educated among us. Additionally, people generally hate sales pitches. So, fear of being strong-armed prevents the most important steps in the financial planning process from being initiated. What’s one simple step in financial planning you often recommend? We think you should budget time out of your schedule to focus on your finances. We recommend blocking off time on your calendar every week to devote to your financial future. Perhaps you watch a YouTube video about investing or read a book. Perhaps you brainstorm ways to increase your income. Use the time to create a budget … or learn what a budget is. Meet with a financial planner or look over your insurance policies. You’ll be surprised by the progress you make by being proactive rather than reactive. What should a client look for in a financial advisor? Ideally, this is a person you will trust to encourage you in good decisions and push back against poor decisions. You also want someone whose goal is to educate you about options rather than sell you on products. Securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth. Additional insurance services offered through Wood Financial, which is not affiliated with Osaic Wealth, Inc. or registered as a broker-dealer or investment advisor.
4711 BELL ST. 806.358.9833 FINANCIALPROGRESS.COM
JAKE WOOD, JEFF WHELCHEL, JOSH WOOD AND STEVE WOOD
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FINANCIAL
Chris Wright
Wright Wilmarth Byrd, PLLC What kinds of services does your firm provide? Our firm offers services in several different areas: estate planning and probate; business law (creation of entities, buying and selling of entities); labor and employment law; family law and general civil litigation. What sets your practice apart from competitors? We do our best to over-communicate with clients. One of the main complaints you hear about lawyers is that they are not responsive to their clients or take an inordinate amount of time to respond to requests. In addition to our lawyers, our staff is empowered to contact clients to answer questions or track down answers from the responsible attorney. Many times, clients just want a response, even if you don’t have an answer. As an attorney, what do you enjoy most about estate planning and probate? I enjoy the planning part of the process the most. I tell clients I would rather help them stay out of trouble than get out of trouble. Careful and thoughtful planning can go a long way toward achieving that. What might surprise local residents about estate planning? Your spouse doesn’t automatically get everything when you die if you don’t have a will or revocable trust in place. Many people assume that the spouse gets everything, but if you die without a will, Texas law may split your assets between your spouse and children, regardless of if they are the children of your spouse or not. Of course, you have the opportunity to avoid that outcome with a well-crafted estate plan. What are the most common estate planning challenges your clients face? Deciding who will be the guardian of minor-aged children is one of the most difficult decisions, especially if the spouses have a different desire. Another challenge people often have trouble with is naming an executor. Who you can trust and who would be willing to take on the responsibility are major questions that cause difficulty in making that decision. What advice do you regularly give clients about the probate process? That the avoidance of probate in Texas is not in and of itself a reason to complicate an estate plan. There are many professionals or other businesses selling estate-planning products with fear tactics about the probate process. The truth is, if you have a well-crafted estate plan, the independent probate process in Texas is generally not a lengthy or stressful process unless the beneficiaries decide to fight, or if there are complicated assets in the estate. If someone is trying to scare you about the probate process, they are trying to sell you something.
7971 SW 45TH AVE. 8 0 6 . 37 2 . 31 0 0 | W W B - L AW.C O M