FOR WHAT IT’S WORTH
| “An Offer I Couldn’t Refuse” |
Issue 54 |
|
| By: Ron Brounes |
October 2001 |
I
have an announcement to make that will most likely catch a great number of you
by surprise. I have accepted a position
with one of my longstanding clients and effective October 15, 2001, I will be
joining a financial planning team at American Express Financial Advisors. (I’m not sure if it is a bigger surprise that
I am taking that job or that I have been able to keep it a secret from all but
the 500 or so people whose advice I have sought?) In any case, this 54th issue will
be the swan song (is that an expression?) for “For What It’s Worth,” at least, under the current Brounes &
Associates affiliation (more about that later).
As
you can imagine, this has been a very difficult decision for me. (Just a few
months ago, deciding what to eat for lunch was among my biggest dilemmas.) Any
change is hard, especially a change during this time of uncertainty and market
turmoil (more about that later). But the
clincher that made the decision so much easier is that I will have the
opportunity to work with two consummate professionals, Scott Tiras and Darrell
Pennington. Their hard work and efforts have enabled them to build the top
American Express financial planning practice in Texas (based on assets under
management) and among the top 6 throughout the entire organization of about
12,000 planners. Tiras and Pennington have effectively created a “firm within a
firm” (under the American Express umbrella) that includes several experienced
analysts and administrative personnel. Like me, they both have advanced
business degrees and professional designations.
I
have worked on numerous projects with these individuals through the years and
have always been extremely impressed by their knowledge of the business, their
tremendous work ethic, and, most importantly, their care and concern for their
clients (of which I have been one for many years). My position within the group will be
“Director of Strategic Marketing.” On a
day-to-day basis, I will be working to enhance their already strong marketing
efforts and their new client development.
I will also be assuming an active role in the financial planning
process.
COULD THE TIMING BE ANY
WORSE???
While
most of my “counselors” have agreed that this is a great opportunity, some
expressed concern about the timing of the move, especially given the current
market conditions. After all, stocks
have been under pressure for the past year and a half and the tragic acts of
September 11 brought even greater uncertainty to the economy and the markets.
In reality, I believe that the timing is exactly right. I believe the role of the financial planner
has never been more important than it is today.
Yesterday, there were a lot of do-it-yourselfers out there, individuals
who traded the markets on their own, many with great success. They used online services and conducted much
of their own research. They sought that
“hot stock tip of the day” and built up substantial portfolios during the
strong bullish times. In periods of
uncertainty, however, fewer individuals are choosing to go at it alone and are
seeking the advice of an experienced planner.
Tiras
and Pennington have built a successful practice by offering a comprehensive
financial planning process that includes far more than just the investment
aspects. While excellent returns have
always been a priority, investments are just one part of the plan which also
involves cash flow analysis, risk management (insurance), education planning,
tax planning, retirement planning, and estate planning. Today, given all the uncertainties in the
markets (and the world, for that matter), these comprehensive services are more
important than ever. Their practice has
developed numerous relationships with corporations which offer personal
financial planning as a key benefit for their employees. By making such
services available, these organizations allow their employees to focus on their
important financial and retirement needs by working individually with an
experienced, knowledgeable planner. From
the company’s (clients) standpoint, providing such benefits has proven crucial
for employee retention and morale.
WHAT DOES A MERE “WRITER”
ADD TO THEIR PRACTICE?
While
many of you may know me only from my Brounes & Associates (and FWIW) days,
I had a professional career that existed before this one. Once upon a time, I was a CPA at a Big Eight
accounting firm who later earned an MBA before embarking on about a 10 year
investment career. I served as a trader
and securities analyst and delivered numerous presentations about the economy
and market conditions to various audiences. My consulting firm has long
targeted businesses in the financial services sector, where my background and
experiences have proven most beneficial.
While
I truly enjoyed the Brounes & Associates experiences, I long suspected that
I would eventually return to the investment field when the right situation
presented itself. I can honestly say
that this position looks to be a perfect fit for me. I have the utmost respect for the practice
that Tiras and Pennington have built, particularly their strong commitments to
their clients. I am eager to put my past
financial and economic background back to work on a daily basis, while also
incorporating the marketing skills I have developed over the past few
years. I also welcome the chance to work
with and learn from these successful individuals and their team of
professionals and to help serve their growing client base.
FOR WHAT IT’S WORTH
Something
else you may be asking… “So what becomes of your monthly newsletter?” (At least, I hope some of you are asking
that.) In truth, this newsletter has become
my favorite task at Brounes and Associates for the past four and a half
years. More than a marketing/networking
piece, it has become an opportunity to stay in touch with friends, family,
business associates (past and present) who I do not have the chance to speak
with as often as I would like. I take
great satisfaction from comments I have received from past issues and always
looked forward to discussing my musings (and even my serious thoughts) with
many of my readers.
For
now, I am planning to continue writing “For What It’s Worth,” at least on a
periodic basis. I feel it has become
part of my identity and I do not wish to cease these open lines of
communications with you at this time.
From a company compliance standpoint, I will refrain from writing about
certain business topics, but plan to pass along to you the anecdotes of my life
experiences and even my thoughts about certain timely issues of the day. (When Eunice comes along, I want you to be
the first to know.) As always, your
feedback is not only welcome but encouraged.
You may find some new twists or even a guest commentator in future
issues.
For
now, I want to thank each and every one of my clients and associates who I have
had the pleasure of working with over the past few years. Few people can honestly say that their jobs
are a lot of fun; I happen to be one of the lucky few. Sometimes, however, an offer comes along that
simply “cannot be refused.” I look
forward to staying in touch and to perhaps working with you in my new capacity
in the years to come.
FOR WHAT IT’S WORTH was a publication of Brounes & Associates focusing on business
marketing and general communications strategies. Now it is simply a publication
of Ron Brounes focusing on not much of anything other than personal anecdotes,
musings, and mindless thoughts about life.
Please call Ron at 713-432-1332 (or email at rtbrowns@flash.net) for
questions, comments, feedback or just to go out and grab a bite to eat. I will
certainly miss Brounes & Associates and will always look fondly on my days
with the company. (I thought my tears
ended with last month’s issue.)