Thomas R. Clark, CLU, ChFC
BUSINESS BACKGROUND:
Born and raised in Polk County, Tom obtained a BA in Business Administration from Drake University. After Drake, Tom joined Bankers Life (now The Principal Financial Group) as an advisor. 15 years later he was recruited to manage the agency office for a large eastern mutual company. Tom found he preferred advising and guiding clients rather than recruiting and teaching others to do the advising. That was fun.
Compensation Designs was born as a totally independent consulting firm with no obligatory ties to any company or organization. No sales quotas. No requirement to sell “the company” line when better choices existed elsewhere. The focus was on the client. The objective was to find the best path instead of finding a product to sell.
The firm was unusual because he and his partners had expertise in business and employee benefits as well as experience creating individual investment and financial play books. By multiplying company dollars (the employer) with personal dollars (the family), success was more easily achieved. Of course, that required (a) managing risk, (b) applying a disciplined approach to the management of business and personal finances, and (c) a commitment to stay focused on the goal.
Over the past forty years, Congress has changed the laws and employers have expanded benefits to the point that today nearly 80% of us own shares in American companies. They come through 401(k) plans, profit sharing plans, §457 plans, IRAs and §403(b) plans. We are inundated with investment choices. And today’s adults are busier than ever before. Surveys determine that people want ways to solve their financial risks. They want to plan. They just don’t want to be sold — anything!
INGREDIENTS FOR SUCCESS
So how does Compensation Designs solve anything? First and foremost, we listen. We ask questions and listen some more. Everyone wants to be financially comfortable (you put in the dollar amount that will fit your goal). But there is no perfect solution. Salespeople have been focused on how great this or that product might be and mumble over the downside risks.
This is a recipe for disaster.
We have partnered with Safe Money to provide a library of resources to educate Mr. & Mrs. America. We find when unbiased information is available, folks can to make decisions. Safe Money is growing in resources every month. We seek to educate, to identify the positive and negative aspects of every action. And, when it comes time to make a buying decision, we are honored to assist – on your time schedule.
