J. Kyle Leipold, president, Leipold Financial Services
Name: J. Kyle Leipold
Title: President
Company: Leipold Financial Services
Family: Single
City of Residence: Milwaukee
What’s new at your company? "The last two quarters of 2008 have been an extremely turbulent time. Because of this, I am working with my clients to create stable, income-producing portfolios so as to not be extremely hurt in today’s economy. Prices today are at unprecedented lows, which could create a tremendous buying opportunity for people to start an investment account or for those who wish to contribute to their existing holdings. Therefore, we are actively soliciting new business to take advantage of this market adjustment. We also recently moved to a new downtown location inside the penthouse of the Milwaukee Center Towers, which will help promote our company to the downtown community."
What are the most interesting issues you work with clients on? "At this time, we are most interested in keeping our clients in stable portfolios. We recognize that the markets have had a recent correction and we are looking to help our clients conserve the principle in bear markets and to take advantage of growth during bullish markets. The most interesting issues are balancing portfolios during various economic conditions. A simple buy and hold strategy may work with certain clients, but the majority need to have flexible rebalanced accounts."
What is the most difficult or challenging project you’ve been involved with? "The most difficult projects that we face here at LFS are to help differentiate ourselves from large brokerage business. We have very little overhead here and can pass that advantage onto our clients by providing low fees but still keeping our highest priority of tremendous customer service. It is difficult to demonstrate to clients that we compete with the large brokers but still can offer the exact same products they may find anywhere else. We continually market our business as a small Milwaukee firm that can cater to any client the large national brokerage houses cater to."
What has been the most interesting moment of your career? "The most interesting moment in my career has to be seeing the difference from working at a large brokerage company to owning my own small firm. Before starting LFS, I worked at a well-known national brokerage company. The overhead and bureaucracy at a national broker is tremendous. Paperwork, secretaries, assistants, and the salaries of the top producers create an atmosphere where these expenses are passed onto the client. With my firm, I am able to compete by charging much less and with much better customer service. At large firms, these advisors manage hundreds of clients, where as I have set a maximum number of customers so as I do not lose that personal touch clients seem to enjoy. It has definitely been a learning experience leaving a national firm and moving to a more personal, local small business."
