Bt Investments Blog

Editor's note: Recently, business writer Rob Levey sat down with Susan Heckaman, a certified financial advisor with the York branch of Edward Jones Investments.

York Weekly: How long have you been involved in this line of work?

Susan Heckaman: I started in this field in 2000. It's been an interesting 10 years. Before that, I worked in the health-care and insurance industries. In my first career, I was an occupational therapist.

YW: What led you into the investment field?

SH: I moved to Maine 20 years ago with my newly minted MBA, but after about my 10th layoff in the health-care and insurance fields, I figured it was about time to change careers.

YW: In your time as an advisor, what trends have you noticed?

SH: I think for a lot of people it's probably been the worst decade in their investing lives. Most have lost value in their 401k plans and retirement savings and it's made them become more involved, which is a good thing, but people still do need us.

YW: What would you say to people who say that an advisor is not needed?

SH: I think we do add a lot of value, because for one thing, there is no perfect investment plan for everyone. People need to talk to someone about their current situation and understand the different products that are available to them. I know how much clients rely on us and how much it means for me to be there for them. I recently had a client come in to tell me that he thought he had cancer even before he told his wife and children. He wanted to make sure that they would be taken care of — that's what it's all about.

YW: Is there one specific advantage you think an advisor can provide the average client or consumer?

SH: The fact that I'm here in a face-to-face relationship with them — that I'm in touch with them to make sure they're OK. I don't mean just from a financial perspective, but from a personal standpoint. That's the difference between doing it online where you do all the work — that's a one-way relationship. What I do is sit down with people and ask them if their goals are still the same and re-visit their tolerance for risk. Goals change throughout people's lives and it's important that people match their investments to their goals.

YW: Is there a misconception you'd like to dispel about what it is that you do?

SH: There is a lot of distrust towards people who manage money, but there are a lot of good people in the business, too. It disturbs me when I hear people say they've cashed out for the wrong reasons.

YW: Is there a guiding principle you'd like to share that you think all investors should follow?

SH: Make sure your investments fit who you are. Look at your time frame — when you are retiring and if you need money now. Match what's appropriate for you with your ability to sleep at night. A good financial advisor can help you work around your emotions, because saving money really is not that simple.

YW: Any investing trends you expect to see in the next one to three years?

SH: I think that people are afraid of taxes going up and the ability of different governmental agencies to meet our obligations. So I think people may continue to invest based on their fears while they miss out on investing opportunities or give up completely.

The York Branch of Edward Jones is open Mondays through Fridays, from 8:30 a.m. to 5 p.m. and Saturdays and evenings by appointment. For more information, call 363-1640.

(Reuters) – In a final push for a sweeping healthcare overhaul, President Barack Obama said on Wednesday it was time for Congress to act and he urged a simple “up-or-down” vote on the legislation.

“Now is the time to make a decision about how to finally reform healthcare so that it works, not just for the insurance companies, but for America’s families and businesses,” Obama said in remarks at the White House.

Democrats are planning to use a budget tactic known as “reconciliation” to get final legislation through Congress despite Republican opposition. The process will allow for a simple 51-vote majority in the 100-member Senate, where a 60 vote supermajority is often needed for controversial bills.

Here is some reaction to Obama’s comments:

REPUBLICANS

*Senate Republican leader Mitch McConnell: “Every election in America this fall will be a referendum on this issue. To ignore public opinion is not going to put the issue behind them, it’s going to put the issue before them.”

*Republican National Committee Chair Michael Steele: “President Obama has decided to use Republican ideas as political cover for his government-run health care experiment that will destroy the doctor-patient relationship and add to our national deficit.”

*Senator Richard Shelby: “If the majority truly had the support of the American people and their representatives in Washington, then reconciliation would be unnecessary.”

*Representative Dave Camp: “The American people have rejected the Democrats’ healthcare bill because it spends too much, taxes too much, increases premiums too much and increases the deficit too much. Adding a few watered-down Republican proposals does not change that fundamental problem.”

*Representative Wally Herger: “It’s a different day but the same story. The president’s remarks today continue to reflect how tone deaf the White House is to the will of the American people.”

DEMOCRATS

*House Speaker Nancy Pelosi: “We will now move forward to pass health insurance reform that includes the best ideas of both Democrats and Republicans, and address one of the most pressing challenges facing our families and small businesses.”

*Senate Majority Leader Harry Reid: “The president and the American people have called on Congress to act now. We remain committed to this effort and we’ll use every option available to deliver meaningful reform this year.”

*Representative John Dingell: “When Republicans had control of the Senate, they vehemently argued for up-or-down votes on judicial nominations and have used reconciliation for tax cuts for the wealthy. I hope my Republican colleagues acknowledge the steps the president has genuinely taken to bridge the partisan divide that has plagued the process.”

MARKET ANALYSTS

*Steve Shubitz, healthcare analyst at Edward Jones:

“It doesn’t really seem like there’s any change here. Basically, what it was a call to action. … The big question is then does something get passed or not, and that’s still a wildcard at this point.”

*Wayne Schmidt, chief investment officer at Gradient Investments: “It’s still just political maneuvering on healthcare, I don’t know that it changes the fact that I’d be surprised if anything does get done.”

*Kenneth Kamen, president, Mercadien Asset Management, Hamilton, New Jersey: “The reality of it is, the votes aren’t there to do it with a 60-vote majority and maybe the market is just looking at this as likely to die … To me, I just think it’s more gridlock ahead. So there’s no trade in it.”

(Compiled by Donna Smith, additional reporting by Lewis Krauskopf, Chuck Mikolajczak, Ellis Mnyandu: editing by David Alexander and Stacey Joyce)

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