Our Daily Show! NAGBC Spotlight: Scott Mandrell Edward Jones!
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GODFREY - Financial advisor Scott Mandrell has some advice for clients who come to his Godfrey Edward Jones office.
“Definitely start saving,” he said. “You can’t really be an investor if you’re not a saver.”
While that advice seems straightforward, Mandrell acknowledges that managing your money can be a daunting task. He encourages community members to meet with a financial advisor, no matter what your financial situation is, to talk about how to grow your wealth.
Mandrell has been in the financial industry for a long time, and he loves working in the Riverbend region. He enjoys getting to know his clients and advises people to look for that personal connection when choosing a financial advisor.
A lot of people tell Mandrell that they don’t have enough money to look into investment opportunities. Mandrell disagrees.
He argues that no matter what your financial situation is, you can always benefit from having that conversation with an expert. He also feels it’s never too early or too late to schedule that meeting.
“It’s very important that you have a strategy in place, and that starts with a conversation with someone who’s working in the industry,” he explained. “Get in and talk to someone. Just like so many things, having a second opinion is helpful.”
Mandrell noted that it is “an interesting and exciting time in the financial industry” as generational wealth transfers from baby boomers to their children. As a company, he believes Edward Jones is “very focused” on generational wealth, making them “well-suited” to small communities.
His own clients vary between people who are highly engaged and those who “hand [him] the keys to the car.” Some people closely follow their investments, while others take a more hands-off approach and give Edward Jones most of the control.
Either philosophy is fine, Mandrell said. But responsiveness is key, especially in this day and age.
“We know that managed portfolios tend to outperform those that are not. The owner of that account being engaged really can enhance the outcome,” he said. “It’s very important that clients are responsive…We want them to understand how dynamic the market is today. It’s very different than it was 20 or 30 years ago, for a host of different reasons. Communication is a big part of it. The market never really closes today. While we’re sleeping, someone in Germany is trading.”
As a more financially “conservative” company, Edward Jones believes in “long-term investing and quality instruments and quality stocks and holding those stocks for a long time when appropriate,” Mandrell added. But no matter what your preferences are, they can help you make decisions that will grow your wealth.
While Edward Jones is a major company, Mandrell emphasized that he is a Riverbend resident who loves to work with his community. He is thankful to organizations like the North Alton-Godfrey Business Council for their support, and he is proud to be a member.
“There are thousands of people in our community who go to work every day, and they go to work mostly at small businesses,” he noted. “Those businesses have to have a voice in the community. They have to be able to advocate for change when it’s necessary or to help actually complement the work that the government is doing. It is very important that there is a structure that allows local business individuals, business men and women, who have taken the chance and the risk of starting their own businesses, to have a voice in the wider community, whether that be politically or socially. The North Alton-Godfrey Business Council does that very well.”
For more information about Scott Mandrell and his Edward Jones office, visit his official Facebook page. To learn more about the North Alton-Godfrey Business Council, check out their official website at NAGBC.com.
