Brady Standard-Herald and Heart O' Texas News (Brady, Tex.), Ed. 1 Friday, June 24, 2005 Page: 4 of 12
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Page 4 - Friday, June 24, 2005 Brady Standard-Herald
pinions
Friends
What happened was, I wanted a
canoe. I had decided it was ridiculous
to live right next to one of the pret-
tiest rivers in Texas, a river people
often drove many miles to float and
fish in, and not have a canoe. It just
wasn’t right.
So my wife, Jocelynn, and I sat
down and talked about it. 1 had
priced canoes, and at first I thought
I had made a mistake and the ones I
was looking at came with motors, or
maybe slaves to paddle them for you.
When 1 figured out that was not the
case, and we talked about it, Jocelynn
and I decided we really couIdn’t afford
to buy a canoe.
So we bought 15 of them.
That was about eight years ago. We
got into the canoe rental business all
at once with those 15 canoes. I figured
1 could rent them out enough to pay
for them, and then I’d have the boats
to use when I wanted them. What I
didn’t real ize was how much work was
Outdoor
Outpost
With
KENDAL HEMPHILL
Advisor reveals his true colors—Part 2
of my life.
Unfortunately for us, the Ashes
have decided to move away. Corey
was offered a position at Howard
Payne University, his alma mater,
which he has always wanted to fill.
He couldn’t turn it down.
So I’m losing a friend, sort of.
They’ll be back sometimes, and
we’ll go to Brownwood sometimes,
but they won’t be right around the
corner anymore. Life, as they say, is
what happens while you’re making
other plans.
When something like this hap-
pens, it always makes you realize
how important your friends are, and
involved, and how seldom 30 people it causes you to remember the good
would show up at once, wanting to times you’ve shared. That makes it
float the river, (never) kind of sad, I guess, but it can’t be
Sol sold some ofthe canoes while helped.
they were brand new, and then I sold Several years ago a company
some more while they were slightly called Rescue 3 International came
used. Now I’m down to 2 canoes, and held a Swift Water Rescue class
which is plenty most of the time, for our fire department. The idea was
One ofthe first people to buy one of for us to learn how to snatch people
those boats was Cathy Ash. from fast moving water they shouIdn’t
Cathy and her husband, Corey, have gotten into in the first place. A
are good friends of my family. Co- few ofthe EMS people took it with
rey has been the Mason ISD band us, and Corey was one of them.
director for 13 years, and has turned That class was a lot of fun, and
our band into the envy of just about actually came in handy a few years
every school in the state. He is also later, when our county got loads
a paramedic, and has served with the of rain the day before deer season
Mason Emergency Medical Service opened. People were getting stranded
fought to put wetsuits on in the rain
on the back of a moving fire truck
in the dark.
When I expanded and got some
kayaks, I managed to talk Corey
into floating with me one day when
we probably should have stayed
home. A storm hit us about halfway
through a three-hour float, with lots
of thunder and lightning. Sitting up
on the water, holding an aluminum
paddle/lighting rod didn’t seem like a
wise move. So we stored the paddles
in the boats and got in the water be-
hind them, and floated with just our
heads sticking out. We still expected
to get hit anytime, but somehow we
lucked out.
Not all advisors are sales hustlers.
I also heard from someone who made
a radical decision in response to his
experience in the financial services
industry. Let’s hope that other con-
scientious advisors don’t follow his
example!
Last week I shared some real-life
confessions of a typical financial
advisor. This self-proclaimed “ag-
gressive, 34-year old (sales) hustler”
sells equity-indexed annuities almost
exclusively. He can’t resist the easy
money and, even though he knows
the investment is better for him than
Guarding
Your ■
Wealth I
By JEFF VOUDRIE
money and achieve their financial
goals. He quickly learned that the
for most of the time he’s been here.
And he was with me the second time
I floated the Llano River, which oc-
curred a few hours after the first time
I floated it.
Somewhere I’ve still got some pic-
tures from that trip. We didn’t have
the foggiest idea what we were do-
ing, and turned the boat over several
times, and I bit my lip almost all the
way through, and we probably came
close to drowning once or twice. It
was one of the most enjoyable days
and washed off roads here and there,
so we got a few calls. I guess I’ll never
forget that night when Corey and I
Chamb e r
his clients, he is unwilling to change firm’s focus was quite different. John
his ways. says, “I found myself around people
(Florida seniors watch out! This who were just trying to figure out how
advisor might be the one trying to to make money on a presentation.”
sell you that equity-indexed annuity! A nd what wel 1-thought- out
Seniors all across the country need investment strategy were his co-
to understand that advisors recom- workers presenting? “Most were
mending these high-commission pushing variable annuities on every
products are very likely cut from deal...and not just for a small portion
tc same cot.) of the client’s overall portfolio,"John
I recently received an email said “Needless to say I did not feel
from someone I’ll call John. He was Sad CsS SaX 1 not 1,
You’ve probably got memories like impressed by the information on C nfortable , left the company,
that, memories that involve someone my website (www.guardingyourwe onn on deci cd 0. won or a
you take for granted. Don’t. Younever alth.com) and had to tell me his story. CPA firm that was starting to offer
know what’s around the next bend, so “Thank you for shedding light on the financial planning services to it s ch-
take advantageofthe time you’ve got. true conflicts involved in the sale of cnt s lewascon ent is experience
There may be less than you think. equity-indexed annuities. Hopefully, wou e, 1 erent. But once again,
During thepast 13 years, the Ashes this will drive change in legislation.” that wasn’t the case. The owner was
have made an indelible impression Interestingly, I took part in a con- introduced to equity-indexed annui-
on our town, and the people they’ve ference call with the Securities and ties in San Diego from Allianz. Well,
been involved with. The community, Exchange Commission on that topic he saw the dollar signs (the potential
the school system, and their church a week later! he had to make money) and hit the
have all benefited from their presence. John started his financial services senior market.
We’re sorry to see them go, but we career in a very unusual way—heac- The opportunity to make a lot of
wish them all the best in their future, tually got a col lege degree in finance! money was too good to pass up and the
I doubt they’ve ever been shot at, but You might be shocked to know that owner decided to push these products
they will certainly be missed ... few advisors have a formal educa- to seniors. Seniors who came to the
Kendal Hemphill is an outdoor tion in finance, investments, or other CPA firm because they trusted the
humor columnist and public speaker money-related issues. Many don’t CPA subjected to advice that was col-
Write to him at PO Box 1600, Mason, even have a college degree. Their ored by what was best for the firm.
Tx 76856 or jeep@verizon.net firms focus on teaching them how John recalls, “I looked, examined,
to sell. and looked again at these contracts
John started out with a ‘financial and said something is wrong. Who
planning company,’ desiring and ex- gets paid a 12 percent commission
pecting to help people manage their and the investor receives a benefit?”
Good question.
“I was really interested in doing
financial planning as a profession
but just could not stomach these
experiences.” Unfortunately, John :
left the financial services industry
alltogether. There are many people
graduating from college that have
strong educational backgrounds in :
financial planning. All toooften their :
experiences are similar to John’s and :
they leave the industry. That’s bad
for all investors.
There are advisors that you can
trust. These advisors have chosen to :
be paid by fees instead of commis- :
sions. As a result, it takes years for
them to earn through annual fees what
commission-based advisors make in
one transaction. You only pay them
for the period of time you use their
services. They only continue to make
money by keeping you happy—what
a concept!
Typically, fee-based advisors
don't hold seminars or contact you by
phone to pitch the latest hot product.
Most of the time, you have to seek
them out instead of the other way
around. By the way, how often are
you contacted by reputable, experi-
enced accountants or doctors trying
to sell their services? Why should it
be different in the financial services
industry?
Do your research anytime an
advisor recommends an investment,
especially if that advisor sought you
out. Make an informed decision, not
a quick one.
Have a financial question? I’ll
personally answer it. Go to www.
guardingyourwealth.com and click
on 'Ask Jeff.’
In addition to being a nationally ,
syndicated columnist and Certified 7
Financial Planning Practitioner, Mr.
Voudrie provides personal, private
money management services to cli-
ents nationwide.
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Letters Policy
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courages letters from its readers.
Letters should be to the point, typed
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and signed. Address and telephone
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Letters will be printed,on a
space-available basis (300-word
limit). Letters should stick with
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however, letters endorsing a can-
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Letters to the Editor may not
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Letters giving thanks to indi-
viduals or businesses must run
as a letter of appreciation (cost
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We reserve the right to edit for
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Letters to the Editor published in
this newspaper do not necessarily
reflect the position of this publi-
cation on any subject.
Correspondence should be
mailed to: Letters to the Editor,
Box 1151, Brady, TX 76825.
New attractions offered
for July 4 festivities
Hi Everyone, to donate we would be very glad to
Hope all is well. The Chamber include them in the welcome bags.
of Commerce wants to let everyone Also the following weekend,
know about an addition to the Fourth July 9, we will have the Dell Win-
of July festivities as well as another ston CupChallengeintown. Thisisa
upcoming event. solar car competition with 9 teams of
We are excited to announce that 12 to 15 member teams. The race sup-
some individuals in town have taken portstaff will be making an overnight
it upon themselves to create the first stop in Brady on July 8.
ever invitational car show showcas- Several of our local service clubs
ing original and restored original will be providingsupper for the racers
cars only. and the Chamber will be assembling
Mitch Van Horn and Kenneth welcome bags for the racers as well.
Young are planning the “Cars Un- This is a great opportunity to show-
der the Stars” invitational car show case our Heart of Texas hospitality
to be held Saturday, July 2 at the and promote your business to visitors
Commercial National Bank parking from across the country and Mexico,
lot at 7 p.m. Any items you can donate for these
The Chamber ofCommerce would bags will be appreciated.
like to welcome the participants to Thanks for everyone’s continued
town and make their stay as enjoy- support. Please bring any items by
able as possible. We will be making the Chamber office no later than this
welcome bags for these participants Friday, June 24, for the “Cars Under
and want to share this great marketing the Stars” event and no later than
opportunity with our local business. Tuesday, July 5 for the Dell Winston
Ifyou have any items you would like Cup Challenge.
ACT NOW!
Offer ends soon!
Crime
Stoppers
The local Crime Stoppers
offers rewards of up to $1,000
for information that leads to the
arrest and/or
indictment of
individuals
responsible
for crimes
committed in
McCulloch
County.
People who
provide information will remain
anonymous.
To report suspected criminal
activity, call Crime Stoppers at
456-TIPS (8477).
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Stewart, James E. Brady Standard-Herald and Heart O' Texas News (Brady, Tex.), Ed. 1 Friday, June 24, 2005, newspaper, June 24, 2005; Brady, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1669096/m1/4/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting FM Buck Richards Library.