Bismarck, North Dakota – Joel Bird, a financial advisor at Ameriprise Financial, has made a name for himself in the industry by growing his team’s assets to an impressive $3.9 billion. With over a decade of experience working out of the Bismarck office, Bird’s success has led him to expand and found Legacy Financial Partners in 2013. What started as a small team in one office has now grown to 112 employees across 29 locations in six states, serving over 15,000 clients. Leveraging their scale, the team has established internal systems such as a client service call center and investment committees to ensure high-quality service.
One of Bird’s key focuses is building relationships with his clients. Understanding that retirement is a common goal for many, Bird ensures that client service remains a top priority. He takes referrals from existing clients and hosts various events to stay connected with clients on a personal level. Bird believes in underpromising and overdelivering, emphasizing the importance of providing a high level of service and continuously adding staff to avoid any coverage gaps. His background in the service industry has taught him how to deal with clients in different emotional states, giving him a competitive edge in the industry.
When it comes to investment philosophy, Bird takes a comprehensive planning approach, considering a client’s risk tolerance and timeframe. Using a bucketing strategy, he segments client assets into short, medium, and long-term categories. For short-term assets, Bird adopts a conservative approach to ensure funds are available for immediate needs, while long-term assets can be more aggressive. He also incorporates alternative investments, such as natural resources prevalent in North Dakota, to diversify client portfolios. Despite market fluctuations, Bird remains optimistic about the stock market, citing its historical trends of going up 75% of the time.
Looking ahead to 2024, Bird remains positive about the market outlook, despite clients’ concerns about inflation, the Federal Reserve, and election year uncertainties. He predicts a soft landing later in the year before the Fed starts cutting rates. With a strong focus on client relationships, a comprehensive investment strategy, and a team of dedicated professionals, Joel Bird and Legacy Financial Partners are well-positioned to continue their success in the financial advisory industry. From humble beginnings on a North Dakota farm to leading a successful financial firm, Bird’s journey is a testament to the power of hard work, dedication, and a commitment to providing exceptional service to clients.
