Hollywood, MD – Some measure success only in terms of money accumulated. At least one local company, while acknowledging that the bottom line is important is also placing value on client satisfaction. This focus has not gone unrecognized for that company—Edward Jones in Hollywood.
“We are really passionate about taking care of our clients,” said Edward Turbush, the branch’s certified financial planner and accredited asset management specialist. Turbush told The BayNet his zeal for aiding individuals in the prudent management of money has its origins in his early life.
Turbush said he grew up poor in New York. He had a friend whose father was a house painter. Despite this modest vocation, the older man “saved an awful lot” of money and did a lot of investing. Those habits gave the man, who Turbush said “became like a second father to me,” a great deal of financial leverage.
“I was very interested in investing,” said Turbush, who later attended college in New York, earning a degree in education. Instead of embarking on a career as a teacher, however, Turbush moved to Florida and got a job selling software related to electronic medical records. “I lost interest in that job,” he recalled.
While still living in Florida Turbush became interested in an opportunity to go to work for Edward Jones, a Fortune 500 company with over seven million clients. With his degree in education and work experiences marketing a product geared toward affluent people, Turbush admitted “I had a pretty good background for what they [Edward Jones] were looking for.” The company hired him in 2004.
While he loved the company, Turbush recalled he was less enthused about the prospect of living forever in South Florida. After reconnecting with a college sweetheart who had gotten a teaching job in La Plata, Turbush moved to Southern Maryland. He stated the relationship subsequently “fell apart,” leading to “plenty of times I wanted quit and move.” However, Turbush remained in Southern Maryland, married and started a family. Of the Southern Maryland area, Turbush stated, “we’ve grown to love it.”
Turbush described his prototype client as “55-ish” with at least one pension, a fairly high income and disposable income. In other words, someone with “a fairly complicated financial life.” At potential Edward Jones client initially fills out a nine-page questionnaire. “We are looking at all aspects of their financial life,” said Turbush. “Tons of information—I want to know income, cash flow, retirement accounts, insurance, will—all of that.”
Turbush affirmed that he is not merely interested in selling some stock to potential clients. Those who are referred to his service “are coming for the whole plan. There are usually multiple needs. It’s like a big puzzle.” Among the common things potential clients will have missing from their financial strategy include an updated estate plan and something is wrong with their insurance. “More than 90 percent of the time there are issues,” he said.
Edward Jones Hollywood office has undergone a restructuring, which like an effective financial plan, was not without its risks. Turbush said the office restructured its service to clients, reduced its client base, hired additional staff and increased services to the downsized client base. He admitted this caused a short-term decline but expressed confidence that it was the sensible thing to do.
Turbush, who works with three administrative assistants, said specific client contact—about 12 to 15 times a year—is crucial to the cultivation of a core of satisfied clients. The contact comes in the form of e-mails, event invitations, birthday lunches, a holiday party and “a lot of communication.”
Having Patuxent Naval Air Station and military contractors in the area has created a good economic environment, Turbush affirmed. While some clients might move away from the area, the local Edward Jones office is still able to retain them for servicing. Turbush said “about 15 to 20 percent” of his clients live out of the area.
The relationship doesn’t end when the client retires either. “Preparing for retirement is difficult but sustaining [financial health] is more challenging,” said Turbush.
The blending of customer satisfaction and revenue has earned Turbush and his staff an invitation to The Peter Drucker Conference in St. Louis this fall. Edward Jones’ top 50 branches from around the nation are invited. Turbush’s office has qualified for the first time ever. Additionally, he will be making a presentation at the conference. “Our goal is to qualify every year,” said Turbush.
The challenges of his childhood have given Turbush the impetus to care for his clients. The Southern Maryland community has also given him a strong sense that the area is his home. Last year, Turbush lost his 7-year-old daughter, Sophia, to a rare form of cancer. He admitted to being overwhelmed by the support his family received from so many individuals and organizations.
“In a small community you want to help people,” he said.
Contact Marty Madden at marty.madden@thebaynet.com
