PROFESSIONAL SERVICES INTERVIEW
Think rationally The pandemic has been challenging for families but it has also been a learning experience
Brad McRae II General Partner & Regional Leader, Raleigh – Edward Jones or business. This past year, we learned that those who have a solid foundation are able to propel their goals and their plan. Those who were not able to prioritize that in the past are now seeing the importance of doing so. How has retirement planning become more dynamic as a result of the pandemic? Retirement planning is more dynamic than ever before. This can be attributed to the average length or retirement triplicating in less than a century. That’s a big deal. Many people spend so much time preparing for that stage that they spend less time thinking about where they are going to be and what they will be doing when they do retire. Before the pandemic, the goal for many was to travel. Now, people have had to readjust their expectations around what retirement will look like, whether it will be working part time, volunteering, or spending time with their families.
How does a firm like Edward Jones help people? We help people think rationally, which means they use facts to make informed decisions. It’s our job as a financial adviser to provide advice. We must give enough context and information for people to feel empowered. It has been a challenging time for many families but it has also been a learning experience for a lot of people, where they see the potential of investments for their families. For most people, it is starting with the foundation of viewing it as a protection plan and having emergency cash or liquid savings. It’s important for families to have that foundation and to be prepared for the unexpected through a stake plan or a life insurance plan. From there, they can start building layers, whether that is saving for retirement, college education or the purchase of a home 44
| Invest: Raleigh-Durham 2021 | PROFESSIONAL SERVICES
What has the landscape looked like regarding investment opportunities and taking risks? It’s subjective and relative because client situations are unique. Those who were comfortable with taking more risks were able to take advantage of the market dropping, at one point, over 30% over the course of a few weeks. Where appropriate, our clients saw the opportunity to invest in companies or investments with lower prices with the goal of collecting those shares over time. What are the firm’s main near-term goals? We think that the growth is evergreen. We would like to grow by at least 18 new financial advisers. The impact that will have on the community will equate to thousands of families being served in the future. We need to have a larger, deeper market share as people are relocating.
