Jacobson Wealth Management and Insurance Services has been voted Best Wealth Management Company in the 2011 NorthBay biz readers poll.
Rich Jacobson first saw Napa Valley during a 1994 business trip to the Bay Area from his home in Vancouver, B.C. “I always wanted to see Napa Valley, so I tooled around on a rented bicycle. I thought it was the most beautiful place I’d ever seen. I knew that day that I wanted to live here and have a business,” says Jacobson, adding that only a couple days later, he met his future wife. “It took me seven years to get here—partly because I had to share my vision with her—but I made it.”
They moved to the valley with their two children in 2001 and, after commuting to manage a financial planning firm in Walnut Creek for a few years, he started his Napa business as a sole practitioner in 2004. “Less than a year later, I realized it was inefficient for me to be doing administrative tasks. I brought on a part-time admin, who soon became full-time,” says Jacobson. The company kept growing, and now employs two admin and includes two other advisers in addition to Jacobson. It also outsources much of its marketing and HR work.
Jacobson knows how to fulfill a dream, and he’s in the right industry to help others do the same with a personal touch that makes his company unique.
“There are three things we focus on here,” he says. “First, we’re committed to excellence in everything we do. We aren’t laid back or complacent about things. We’re always learning through continued education and constantly seeking to improve ourselves.
“Second, caring for people is very important. The expression ‘People don’t care how much you know until they know how much you care’ is proven over and over. We demonstrate that by always being available and responsive to our clients. We listen more than we talk.
“Third, we must be trustworthy. It’s so important, especially when you’re dealing with other people’s money, and especially with what’s happened over the past few years. We’re open and honest. We explain things thoroughly. We make sure our clients are OK with things. We go to great lengths to earn and keep their trust.”
He provides an example: “I work with all four generations of one family. There’s a 93-year-old great grandmother, her son and his wife, their children and their children’s children. I take it as a supreme compliment that they all trust us to help them with their finances.”
When asked about current concerns people have, Jacobson lists several, including federal and state government debt (they’re concerned about the country’s finances and the amount of debt and how it will all play out) and the impact of the depressed housing market.
“[That’s] been a real game changer for people’s financial planning,” he says. “Equity lines of credit aren’t an option for many these days. And people who are underwater in their mortgages can’t refinance into lower-rate loans. They’re stuck with what they have and there’s lots of strain.
“A lot of small business owners have financed their business needs using their homes as collateral. But in many cases, they no longer have access to that because the banks pulled those lines of credit or there is no longer equity to work with. Now all they have is daily cash flow, which is especially hard for those with upfront costs, like builders and retailers.”
When Jacobson works with clients, he asks about the most important lessons they’ve learned about money thus far, and what financial and nonfinancial goals they have. “If they’re in relationships, I ask about their attitudes toward money and debt. They’ll often become quite animated and I realize they’re not just talking to me, but in many ways they’re talking to each other,” he says.
So what’s up for the future of Jacobson’s company and the financial management profession? “We’re looking to take on new clients and attract additional advisers who share our values and vision,” he says. As far as the profession goes, “The Internet has changed the way people approach so many things, including their financial planning. I use the medical field as an analogy: When a symptom develops, people now are likely to look it up online before they meet with their doctor. Many reach conclusions on this limited basis. The same is true in my profession—sometimes to an even greater extent. People want to do things themselves, but I don’t know how someone who has a normal life and workday could do an effective job managing their own finances and investment planning for the future. There are so many changes that happen so fast. It can be alarming how complex the financial and investment world is,” he says.
To those who trust his company to provide financial services, and especially those who voted for it, he says, “Thank you so much. The only reason we exist is for you, our clients. We take our relationship as a sacred trust, to always go beyond expectations and seek to provide an exceptional experience.”
LD40214-4/11 Rich Jacobson is an Investment Advisor Representative with and Securities and Investment Advisory Services offered through Transamerica Financial Advisors, Inc. (TFA) member FINRA, SIPC and a Registered Investment Advisor. Non-Security products and services are not offered through TFA. Jacobson Wealth Management and Insurance Services is not affiliated with TFA.
