Sherry Meyer, Edward Jones Investments
Investment matters have come into sharp focus over the past couple of years, but Sherry Meyer has lived and breathed finance for a decade. An investment representative for Edward Jones Investments, Meyer started her branch from scratch in January 1993. “I went out into the surrounding neighborhoods and to businesses to introduce myself. I developed relationships and looked for clients who wanted and needed my help,” she said.
But she was beginning more than a business; she was starting a whole new career. “My previous career was as a manufacturer’s representative for engineered plumbing products. After 15 years I had reached the point where I could no longer grow unless I traveled even more than I already had been. As a single mother, I wanted to be available to participate in my son’s life. I wanted to change careers while I was still young enough and energetic enough to start over.”
At about that time, Meyer’s former boss and mentor said he wished he would’ve chosen a career in financial services, due to the potential he saw in that area. “When I started looking at a career change, it really appealed to me since I had already made many major financial blunders and was aware of the lack of good help available. I knew I could learn anything—after all, I had learned about plumbing products. My family and friends were a great support; I had no idea it would be as difficult as it was,” she said.
Meyer said Edward Jones was a natural fit for her. “In the rep business, I had run my territory with the help of one support person in a branch office. I had freedom, flexibility, and all of the responsibility. Edward Jones is set up the same way. Working in close quarters with lots of others hurt my abilities; with space of my own I flourish. Edward Jones is a very large company, with more than 8,000 offices and a very large support system at the home office in St. Louis. I get the best of both worlds—the resources of a large company and the ability to run my own office as long as I’m ethical and profitable. I believe in the way we do business; it’s designed for the personal needs and goals of each individual client. I don’t have to use any specific products and am free to help the client with the products I believe in.”
Meyer said a typical day for her begins by checking to make sure everything is ready for her daily appointments and reviewing the schedule with her office manager, Becky Girdzus. “Next, I spend several hours calling clients who need recommendations for money they have, have coming, or need to reallocate for increased return or to protect their money from risk as much as possible.”
Although the investment business is male dominated, Meyer said she enjoys the interaction with both her male and female colleagues. “I’ve always chosen male-dominated industries. I must like to make waves, and I know I enjoy working with men. But I also enjoy my women colleagues—and I like not being the only one. My region and firm has many more women brokers than when I started 10 years ago. Our region has grown to eight female brokers out of 70, which is about 10 percent.”
She said clients aren’t concerned with whether they’re dealing with a male or female representative; they simply want someone who can work for them. “Investors trust people they feel care about them, who listen to their needs, and who are open and honest with them. I educate my clients as we work together, explaining the drawbacks as well as the potential upside. Women investment advisors are often more willing to take the time and interest in a client to develop a closer relationship.”
Meyer said to be great investor, you need to have an optimistic attitude about life and the United States’ ability to work through problems, develop, and grow. “You must believe in capitalism. Investing in stock, whether individually or through a mutual fund, is buying a piece of a business. Stick with quality for endurance and price appreciation like you would for a tangible investment like real estate, art, your own business, or collectibles. Your time and patience is the hardest and most important thing. You aren’t buying the daily market; you’re buying a piece of a business to own for many years. The market is controlled by emotion in the short run and growth in earnings over time—emotional cycles of fear or greed. To be a successful investor, buy during times of fear, or at least hold and reinvest.”
Meyer said women, who make up about half of her clients, make good investors because they’re typically more patient, don’t easily believe in hot tips, and will follow professional guidance. “Like any area of life, it’s dangerous to become unteachable,” she pointed out.
Most new clients are surprised at how easy investments can be to understand, she said. “I believe in keeping it simple and educational. You can make a good return without going into complicated products. Use simple strategies such as buying quality and holding, diversifying, and taking advantage of professional guidance.”
She said the most challenging aspect of her job is time management and organization. “I’m lucky to have Becky organizing and running the office. I just want to be proactive with my clients and available when they need help. I learned the hard way to keep my priorities in order. My health—spiritual, mental, physical, etc.—must stay at the top with my family. Without that, I won’t be able to help anyone. Time is precious, and I refuse to use it all at work.”
Meyer said the economic downturn of the past couple of years has served to reinforce the way Edward Jones invests. “My retired clients aren’t out getting jobs—unless they want to—and selling homes to downsize. They have their income needs covered with bonds. A balanced portfolio designed for their income needs now and in the future protects them and provides more choices.”
The downturn does have an affect on how she allocates some of her time, however. “I’m spending more time holding hands, reinforcing plans, reminding people about time in the market—not timing the market—reallocating when needed, and re-educating clients. Sometimes life throws curveballs, but down markets always happen; we just don’t know exactly when,” Meyer said.
Investing and personal responsibility for our own financial future is becoming even more important, she said. “The government and employers have been shifting responsibilities over the individuals. Most employers no longer offer pensions, replacing them with salary deferral plans. Social security now will only cover 25 to 35 percent of what a future retiree needs. The great thing a prolonged down market does for our business is reinforce the need for professional help.” TPW
But she was beginning more than a business; she was starting a whole new career. “My previous career was as a manufacturer’s representative for engineered plumbing products. After 15 years I had reached the point where I could no longer grow unless I traveled even more than I already had been. As a single mother, I wanted to be available to participate in my son’s life. I wanted to change careers while I was still young enough and energetic enough to start over.”
At about that time, Meyer’s former boss and mentor said he wished he would’ve chosen a career in financial services, due to the potential he saw in that area. “When I started looking at a career change, it really appealed to me since I had already made many major financial blunders and was aware of the lack of good help available. I knew I could learn anything—after all, I had learned about plumbing products. My family and friends were a great support; I had no idea it would be as difficult as it was,” she said.
Meyer said Edward Jones was a natural fit for her. “In the rep business, I had run my territory with the help of one support person in a branch office. I had freedom, flexibility, and all of the responsibility. Edward Jones is set up the same way. Working in close quarters with lots of others hurt my abilities; with space of my own I flourish. Edward Jones is a very large company, with more than 8,000 offices and a very large support system at the home office in St. Louis. I get the best of both worlds—the resources of a large company and the ability to run my own office as long as I’m ethical and profitable. I believe in the way we do business; it’s designed for the personal needs and goals of each individual client. I don’t have to use any specific products and am free to help the client with the products I believe in.”
Meyer said a typical day for her begins by checking to make sure everything is ready for her daily appointments and reviewing the schedule with her office manager, Becky Girdzus. “Next, I spend several hours calling clients who need recommendations for money they have, have coming, or need to reallocate for increased return or to protect their money from risk as much as possible.”
Although the investment business is male dominated, Meyer said she enjoys the interaction with both her male and female colleagues. “I’ve always chosen male-dominated industries. I must like to make waves, and I know I enjoy working with men. But I also enjoy my women colleagues—and I like not being the only one. My region and firm has many more women brokers than when I started 10 years ago. Our region has grown to eight female brokers out of 70, which is about 10 percent.”
She said clients aren’t concerned with whether they’re dealing with a male or female representative; they simply want someone who can work for them. “Investors trust people they feel care about them, who listen to their needs, and who are open and honest with them. I educate my clients as we work together, explaining the drawbacks as well as the potential upside. Women investment advisors are often more willing to take the time and interest in a client to develop a closer relationship.”
Meyer said to be great investor, you need to have an optimistic attitude about life and the United States’ ability to work through problems, develop, and grow. “You must believe in capitalism. Investing in stock, whether individually or through a mutual fund, is buying a piece of a business. Stick with quality for endurance and price appreciation like you would for a tangible investment like real estate, art, your own business, or collectibles. Your time and patience is the hardest and most important thing. You aren’t buying the daily market; you’re buying a piece of a business to own for many years. The market is controlled by emotion in the short run and growth in earnings over time—emotional cycles of fear or greed. To be a successful investor, buy during times of fear, or at least hold and reinvest.”
Meyer said women, who make up about half of her clients, make good investors because they’re typically more patient, don’t easily believe in hot tips, and will follow professional guidance. “Like any area of life, it’s dangerous to become unteachable,” she pointed out.
Most new clients are surprised at how easy investments can be to understand, she said. “I believe in keeping it simple and educational. You can make a good return without going into complicated products. Use simple strategies such as buying quality and holding, diversifying, and taking advantage of professional guidance.”
She said the most challenging aspect of her job is time management and organization. “I’m lucky to have Becky organizing and running the office. I just want to be proactive with my clients and available when they need help. I learned the hard way to keep my priorities in order. My health—spiritual, mental, physical, etc.—must stay at the top with my family. Without that, I won’t be able to help anyone. Time is precious, and I refuse to use it all at work.”
Meyer said the economic downturn of the past couple of years has served to reinforce the way Edward Jones invests. “My retired clients aren’t out getting jobs—unless they want to—and selling homes to downsize. They have their income needs covered with bonds. A balanced portfolio designed for their income needs now and in the future protects them and provides more choices.”
The downturn does have an affect on how she allocates some of her time, however. “I’m spending more time holding hands, reinforcing plans, reminding people about time in the market—not timing the market—reallocating when needed, and re-educating clients. Sometimes life throws curveballs, but down markets always happen; we just don’t know exactly when,” Meyer said.
Investing and personal responsibility for our own financial future is becoming even more important, she said. “The government and employers have been shifting responsibilities over the individuals. Most employers no longer offer pensions, replacing them with salary deferral plans. Social security now will only cover 25 to 35 percent of what a future retiree needs. The great thing a prolonged down market does for our business is reinforce the need for professional help.” TPW