BONIFAY — Ben Welter with Capital City Investments and Ben Bowersox with Capital City Trust were present at the Bonifay Kiwanis Club’s April 17 meeting to talk about the importance of good investments and sound advice.
Before introducing Welter to speak, event coordinator Roger Brooks gave an update on the upcoming Horse Show at Panama City Beach.
He said there had been concerns as to if it was still going to happen this year and he assured everyone that it would be held at Frank Brown Park though the dates aren’t set yet. For more information, he said, call Todd Fisher at 850-914-9030.
“The first thing you think of when thinking of a having a financial advisor is someone who wants you to invest in something,” said Welter. “I’m here to dispel that myth. Our hallmark is that we protect our clients, whether it’s your money, your family, your investments.”
Protection comes in the form of advising against paying unnecessary taxes, retirement plans, insurance policies, handling estates, and so on.
“We protect your money and we protect your goodnight’s rest by knowing your money is protected,” said Welter. “Doesn’t matter if it’s planning for your retirement or planning for a college education.”
Welter advised that the first action that need to be taken was finding a good financial advisor.
“You need one that not only asks good questions but is also a good listener,” he said. “If they aren’t a good listener or they only want to know about your money then it might be time to find yourself a new financial advisor. The worst thing you could do is get a plan that you can’t follow through with and the only way that a good financial advisor is going to see this is if they are interested in you and your investments and investments far outreach just money; it’s your faith, family and health.”
He was asked if gold is a good investment.
“I know there’s been a lot of advertisement about investing in gold but I’ve got to tell you that is a very bad idea,” said Welter. “Gold is down by 30 percent in the market and historically gold has never been a very good investment. Gold can never really keep pace with inflation.”
He said the best way to reduce risk when investing is to diversify and invest in many little things instead of betting it all on one gamble.
“Also make sure that you have a financial advisor with a wide open platform,” said Welter. “That opens the doors to a wide variety of investments that may suit you and your needs the best.”
According to his profile, Bowersox is new to the Capital City Trust Company, with this being his first year with the company. Bowersox came from a Fortune 500 firm where he held a position in business development focusing on client relationships. Before that, he served the Navy as an aviator and naval officer with multiple deployments in Operation Iraqi Freedom.
“As far as investments go we don’t make them, create them or sell them, we just manage them,” said Bowersox. “We help secure your investment and your legacy. We assist you not just today but you and your family in the long run and can even be a shield from creditors.”
A lot of what they do is managing assets, property and estates so that in the event that someone should pass away their estate would be managed the way they wished.
“Some want certain amounts to go to some people and not others or to a charitable organization of their choice, such as the Kiwanis Club,” said Bowersox. “Others don’t want the lump sum to go to their heirs, so it would be divided into monthly payments or is invested into education. There’s a large variety of ways your assets and estate can be secure and executed the way you wish even after your passing.”
He said a contributing factor to their company is that they are close, located in Tallahassee.
“We’re not in Wall Street or Orlando, we’re in Tallahassee, right next door,” said Bowersox. “We feed your animals and maintain your property while you’re away. The highlight is that we go beyond asset management.”