Like many farmers my dad was a barnyard mechanic. In the mid 1950’s a friend got him started in the antique car hobby. Myself and two of my brothers still dabble in that area. I was reading a car magazine recently, and an automotive executive was quoted as saying when Congress passes new emissions standards, they hire 50 new engineers. But their competitor hires 50 new lawyers. Two different ways to face a challenge.
The financial industry is heavily regulated. When I first started with Waddell & Reed, if a client was writing a check to open an account the application was a single sheet of paper that was double sided. There would be additional forms when more was involved, such as setting up monthly deposits or transferring funds from another company. Today the amount of paperwork required is substantially greater. But regardless of new challenges, our goal will always be to help clients make sound decisions, while continuing to expand and improve the services we offer.