Two-Two-Way­Way Street

The Suit - - Cover Story -

C. McDow­ell Jr., Char­tered Fi­nan­cial Con­sul­tant C. McDow­ell Jr., Char­tered Fi­nan­cial Con­sul­tant (ChFC), is one of those for­tu­nate peo­ple whose ca­reer (ChFC), is one of those for­tu­nate peo­ple whose ca­reer hur­dles and de­tours led him to­ward a path to greater suchur­dles and de­tours led him to­ward a path to greater suc­cess. cess. After start­ing out in 1985 as a con­ven­tional ad­vi­sor, McAfter start­ing out in 1985 as a con­ven­tional ad­vi­sor, McDow­ell moved into fi­nan­cial plan­ning in 2003. “The firm I Dow­ell moved into fi­nan­cial plan­ning in 2003. “The firm I was with went un­der, so I ap­plied to grad­u­ate school and was with went un­der, so I ap­plied to grad­u­ate school and earned my ChFC des­ig­na­tion,” he re­calls. “I sub­se­quently earned my ChFC des­ig­na­tion,” he re­calls. “I sub­se­quently joined an in­de­pen­dent bro­ker­age firm, LPL Fi­nan­cial. The joined an in­de­pen­dent bro­ker­age firm, LPL Fi­nan­cial. The move changed how I work.” And it changed his life as well. move changed how I work.” And it changed his life as well. That ca­reer shift ben­e­fited him and his client base. As someThat ca­reer shift ben­e­fited him and his client base. As some­one pro­vid­ing guid­ance and ser­vice to in­di­vid­u­als and bu­sione pro­vid­ing guid­ance and ser­vice to in­di­vid­u­als and busi­nesses in the Den­ver, Colo. area for more than 25 years, Mc­nesses in the Den­ver, Colo. area for more than 25 years, McDow­ell’s as­so­ci­a­tion with an in­de­pen­dent bro­ker­age firm Dow­ell’s as­so­ci­a­tion with an in­de­pen­dent bro­ker­age firm with­out pro­pri­etary prod­ucts sup­ported in­de­pen­dence of with­out pro­pri­etary prod­ucts sup­ported in­de­pen­dence of thought and ac­tion, giv­ing him com­plete flex­i­bil­ity to custhought and ac­tion, giv­ing him com­plete flex­i­bil­ity to cus­tom­ize clients’ in­vest­ment plans. tomize clients’ in­vest­ment plans. Us­ing that free­dom, McDow­ell of­fers his clients wide-rangUs­ing that free­dom, McDow­ell of­fers his clients wide-rang­ing, non-pro­pri­etary in­vest­ment op­tions – in­clud­ing mu­tual ing, non-pro­pri­etary in­vest­ment op­tions – in­clud­ing mu­tual funds, stocks, bonds, REIT’s, ETF’s, and vari­able and fixed funds, stocks, bonds, REIT’s, ETF’s, and vari­able and fixed an­nu­ities – on a com­mis­sion or fee ba­sis. An ex­pert in inan­nu­ities – on a com­mis­sion or fee ba­sis. An ex­pert in in­vest­ments, in­surance, tax plan­ning, re­tire­ment plan­ning vest­ments, in­surance, re­tire­ment plan­ning, tax plan­ning, and es­tate plan­ning, McDow­ell fo­cuses on a col­lab­o­ra­tive and es­tate plan­ning. McDow­ell fo­cuses on a col­lab­o­ra­tive ap­proach to wealth ac­cu­mu­la­tion. ap­proach to wealth ac­cu­mu­la­tion. “Ev­ery­thing done is mu­tu­ally agreed upon. I make sug“Ev­ery­thing done is mu­tu­ally agreed upon. I make sug­ges­tions and the clients make the de­ci­sions,” he em­pha­sized. ges­tions and the clients make the de­ci­sions,” he em­pha­sized. And McDow­ell en­sures that each client’s de­ci­sions are inAnd McDow­ell en­sures that each client’s de­ci­sions are in­di­vid­u­ally ap­pro­pri­ate – whether that means con­ser­va­tive di­vid­u­ally ap­pro­pri­ate – whether that means con­ser­va­tive or ag­gres­sive in­vest­ing. That’s why ed­u­ca­tion forms a ma­jor or ag­gres­sive in­vest­ing. That’s why ed­u­ca­tion forms a ma­jor part of his re­la­tion­ship with clients. To this end, he places part of his re­la­tion­ship with clients. To this end, he places data in sim­ple, eas­ily un­der­stood for­mats. McDow­ell does data in sim­ple, eas­ily un­der­stood for­mats. McDow­ell does three reviews each year, mak­ing the client part of the largth­ree reviews each year, mak­ing the client part of the larg- er process which, in er process which, in turn, strength­ens their turn, strength­ens their client/ad­vi­sor re­la­tion­client/ad­vi­sor re­la­tion­ship. ship. “I place clients in a “I place clients in a bet­ter po­si­tion to take bet­ter po­si­tion to take ad­van­tages of world ad­van­tages of world changes, as I am proac­tive in­stead of re­ac­tive,” McDow­ell changes, as I am proac­tive in­stead of re­ac­tive,” McDow­ell ex­plains. “I un­der­stand each in­dus­try and what com­pa­nies ex­plains. “I un­der­stand each in­dus­try and what com­pa­nies fo­cus on. I see what’s go­ing to hap­pen ahead of time.” fo­cus on. I see what’s go­ing to hap­pen ahead of time.” But he has one ed­u­ca­tional prob­lem re­lated to re­tire­ment But he has one ed­u­ca­tional prob­lem re­lated to re­tire­ment plan­ning – and it’s a thorn in the side of many other ad­plan­ning – and it’s a thorn in the side of many other ad­vi­sors. “I can’t con­vince enough peo­ple about the value of vi­sors. “I can’t con­vince enough peo­ple about the value of long-term health care,” McDow­ell says. “I can help make long-term health care,” McDow­ell says. “I can help make as­sets cover re­tire­ment ex­penses, but a per­sonal health cri­sis as­sets cover re­tire­ment ex­penses, but a per­sonal health cri­sis can cause ev­ery­thing to come tum­bling down.” can cause ev­ery­thing to come tum­bling down.” Still, his work pro­vides him with great sat­is­fac­tion. “My Still, his work pro­vides him with great sat­is­fac­tion. “My true love is help­ing oth­ers,” he says. That love is re­quited, true love is help­ing oth­ers,” he says. That love is re­quited, too. “Clients don’t leave me.” too. “Clients don’t leave me.” McDow­ell has but one re­gret: “I didn’t get my des­ig­na­tion McDow­ell has but one re­gret: “I didn’t get my des­ig­na­tion sooner.” sooner.” www.richard­cm­c­dow­ell.com www.richard­cm­c­dow­ell.com

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