SEPTEMBER 20 - JOEL SPEAKMAN
Pat updated the club on Jim Monahan's progress. She told us if we see him out driving down the road to flag him down. GOOD NEWS!
Al Barth introduced th speaker most succintly "He needs no introduction."
Joel Speakman began by telling us his history and why he and his family ended up in Maine. He was born in Syracuse, New York and attended Northern Illinois University. He has been married for 20 years and has two children, ages 14 and 10. Through the years he has worked for Prudential Insurance and sold automotive paint for Dupont Corporation in Iowa and Chicago as well as working at the Dupont headquarters in Delaware analyzing its financial competitors. He realized the people around him close to retirement did not look happy. After some searching for a great place to live and a place somewhat close to family, Joel and his family settled in Bethel in 2007. At first he worked for Sunday River bringing in corporate sponsorships.
After talking with someone from Edward Jones at both a Boston and Portland Chamber meeting he decided this was the company he'd like to work for.
For him the important points about this company was its emphasis on local offices (12,000 US offices), face-to-face contact with customers and the fact that it has not gone public. Edward Jones has no stock halders. The company is owned by its employees.
The son of the founder of the company, Ted Jones says he is the luckiest man in America. He has a wife, 4 dogs, a horse, too much to eat each day and a few close friends.
Edward Jones has 43 offices in Maine and is one of the 100 best companies to work for.
Joel follows a five step process with his customers:
1. He first gets to know the person.
2. He finds out what is important to the person.
3. He has the person do a reality check including what they've done so far and what would be realistic goals.
4. He then gives advice on how to get to the person's overall plan.
5. He reviews everything once a year.
Joel advises people close to retirement to do the following:
1. Buy quality.
2. Invest for the long term.
3. Diversify the portfolio.
VISITING ROTARIANS AND GUESTS: Joel Speakman (Barth), Pat Monahan (Laux)