Cold Call
Chad Coe
Registered Rep.: You're running for mayor of Deerfiled, a town of 20,000 people — a non-paid, non-fulltime position. Describe your politics.
Chad Coe: I am running as an independent, but I am probably more Republican, although I do like President Obama. I am focusing on budgetary issues, infrastructure and bringing new businesses to Deerfield. My website is Chadcoeformayor.com.
RR: How did you become a financial advisor?
CC: I started in the business 12 years ago. I was a bookkeeper for a family bookkeeping firm, which I ran, but I wasn't able to make the kind of living I wanted to make. I started with Paine Webber and took my Series 7 and Series 65. I currently manage $75 million plus — down from $100 million before the market crash. I am mostly fee-based.
RR: What's your investing philosophy?
CC: I practice a diversified value investment strategy, using stocks, bonds and ETFs. I outsource all of it to money managers.
RR: You specialize in helping the unemployed?
CC: Yes, I started helping the unemployed 12 years ago. I started networking groups and a charity in order to meet successful people who needed help. The charity is www.specialkidsnetwork.org, which donates $100,000 a year to kids' causes.
RR: Was that a wise business decision, helping people who have diminishing assets?
CC: It's creative marketing that works. When an executive making $120,000 leaves a company, if he's been there a while, he might have $300,000 or $400,000 to rollover. I try to capture his 401(k). The key with them is that if you help them while out of work, you can win assets. My typical new account is $500,000. But the money conversation isn't first. I help them find jobs, give them advice, put some feelers out with recruiters I know. The networking groups I created had up to 300 unemployed executives a month who would come in and network.
RR: Lessons from the credit crisis?
CC: I didn't lose clients. But it's a struggle. It's a chance to rebalance and refocus on their portfolios. We're adding a little more fixed income — ETFs using short-term bonds. The bottom line is that I am not being blamed for the drop in their portfolios.
RR: What is your book about?
CC: It's about how I grew in business. I made up the word in the title to describe my strategy. The book is called, The Power of Peopletizing. Peopletizing is about being thoughtful and caring, sharing and mentoring. If you don't need help, mentor someone who does.
RR: What's your motto?
CC: Sales coach Bill Bachrach said, “Become a celebrity in your community.” That is what I am trying to become.
