Joel Bird is a financial advisor at Ameriprise Financial in Bismarck, North Dakota. He grew up on a farm near the Canadian border and graduated with an accounting degree from the University of North Dakota in 1999. Starting his career in tax work, Bird joined Ameriprise as an advisor in 2000. In 2013, he founded Legacy Financial Partners to team up with other advisors in the same office, which eventually grew to 112 employees across 29 locations in six states. With over 15,000 clients, the team provides personalized services and leverage their scale through various systems such as a client service call center and internal investment committees.
Building relationships is essential for Bird and his team, as they strive to help their clients achieve their goals, particularly retirement. With no minimums for new clients, they often receive referrals from existing clients. Maintaining a high level of client service is a priority, and Bird emphasizes the importance of staying in touch and hosting local events to connect with clients on a personal level. With a background in bartending, Bird values hiring from the service industry as it provides employees with the skills to deal with clients in various emotional states.
Bird takes a comprehensive planning approach to investment, considering a client’s risk tolerance and timeframe. He uses a bucketing strategy to segment assets into short, medium, and long term categories, with positioning ranging from conservative for short-term assets to more aggressive for long-term assets. Bird also incorporates alternative investments, such as natural resources, to diversify portfolios. Despite client concerns about inflation, the Federal Reserve, and election years, Bird remains optimistic about a soft landing and predicts the Fed will begin cutting rates later in the year.
In terms of investment outlook for 2024, Bird believes there will always be clients who are nervous about various factors. However, he remains positive about the market, citing statistics that show stocks go up 75% of the time. Bird advises clients to weather rough patches and stay invested to reap the rewards in the long term. With a focus on client service, personalized strategies, and a team of experienced professionals, Joel Bird and Legacy Financial Partners continue to provide wealth management services to clients across multiple states. Their commitment to building relationships, innovative investment strategies, and optimistic outlook for the future set them apart in the competitive financial advisory industry.