Duo Offers Zing at ING

They started as competitors, but are now partners.
Gail Stein, certified financial planner and investment adviser, opened her office after moving to Northwest Arkansas in 1992.
Stein was working in downtown Rogers at 109 West Elm. But when her lease expired, the property manager said she had another available space at 211 W. Elm — a space she would share with fellow Rotarian James Hammons. Stein moved in 2004.
Hammons was an investment adviser through ING Financial Partners, while Stein used H.D. Vest Financial Services. After four months, Hammons convinced Stein to join the ING team. Forbes magazine recognizes ING Group as one of the most powerful public companies in the world, employing about 113,000. ING has sales of more than $130 billion and assets of about $1.37 trillion, according to Forbes.
What distinguishes these two partners from other advisers, they said, is experience and their focus on client needs.
“We have probably more investment experience than any other team,” Stein said.
Originally from West Memphis, she moved to New York City and began working for Alliance Capital Management Corp. in 1976. She now has been in the business for more than 25 years.
For Hammons, investing is a second calling. He was previously a postmaster in Oxford, Miss. After 26 years with the postal service, Hammons had the opportunity to retire and change careers. He decided to get into investing, and has enjoyed it for nearly 10 years.
“I get a great deal of satisfaction out of helping other people reach their goals,” he said.
Their business operates on a customized client-centered approach. Stein sits down and questions clients so she’ll know what best suits the them, rather than investing into some predisposed fund.
“We will sit with them,” Stein said. “We want to know where they got the $10,000, what it’s for, when you’re going to need it and how does this fit into overall investment assets.”
They take pride in doing what they believe is best for the client.
“We’ve actually turned down some business because we didn’t think that is was appropriate for some older couples to take this money that they had, and put it into some investment that we had [that we] felt like they already had enough in,” Hammons said. “We told them they ought to just keep it in the bank, and they go to some other place and the folks go invest it.”
Stein and Hammons are independent, another benefit they see for their customers.
“The difference between being independent and being a captive agent or working for a group where they have their own proprietary funds, is that we can pick whatever we want to pick that we feel is most appropriate for our clients,” Hammons said.
While the sign outside says ING, they are not obligated or persuaded to use ING’s offerings. Sometimes they use funds from Fidelity or John Hancock.
Stein said the pair’s average client is invested at about $150,000, but their office has handled trusts worth more than $9 million.
They have seen the gamut of investors, usually for retirement but for other goals as well.
Some clients have also come in to shore away money for a vacation 10 years down the road when their children are older.
“People think they have to put a lot of money away to save, but you don’t have to put as much away as you think as long as you begin to put it away at an early age,” Hammons said.
With uncertain futures, such as companies doing away with defined benefit plans, people need to be more responsible.
“People have to learn that they have to put money away themselves if they’re going to plan for retirement,” said Hammons. “Not any one specific component of that will work, that’s why they’ve got to have their 401(k), IRA and savings.”