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Age is asset for financial planners
(by Sue Hoffman - January 15, 2009)
Age is asset for financial planners
By SUE HOFFMAN
For many people, turning 50, 60 or 70 means it's time to wind down a career and plan for retirement. That just wasn't so for Judith Caine and her staff at Financial Network Investment Corp., an independent division of ING in Solon.
Mrs. Caine, who had a financial planning practice in Solon since 1996 and turned 50 last summer, recently opened Financial Network's new branch office at Franklin's Row on Solon Road. Joining her are her Solon next-door neighbor Sharon Olgin, 67, Jewel Paynther, 72, of Bainbridge, and Mary Bokansky, 51, of Garfield Heights.
"When I hired Sharon, she reminded me of her age," Mrs. Caine said. "I said, 'OK, Jewel is 70ish.'"
"I said, "Well then, old bats are running a financial planning office," Mrs. Olgin said.
"I thought, 'Great,'" Mrs. Caine said. "We are a very focused group of mature women who work hard and have fun. I have only enthusiasm regarding the age of the women in the office. They bring many years of life and work experiences to our firm."
"I had been looking for a job and was frustrated," said Mrs. Olgin, a veteran legal secretary. "I was always told I was over-qualified. Everybody who interviewed me was 35 years old. I have a son who is 36. One gentleman asked if I had the stamina to do an eight-hour job. I felt totally useless. I happened to mention to Judy in the yard that I was having a difficult time finding a job."
"I said I was looking for someone for my office," Mrs. Caine said.
"I said, 'Here I am, baby,'" said Mrs. Olgin, who serves as an administrative assistant.
With five children, 13 grandchildren and four great-grandchildren, Mrs. Paynther said she's not interested in retiring. "Your mind stays alert," she said about working. "Judy and I worked for another firm. When she said she was going into business and needed my help, I said yes."
Mrs. Paynther, who has a master's degree in business administration, helps in budget counseling and reviewing portfolios in the office, which specializes in women in transition. "A lot of women haven't done any financial planning. Educating a client is a major emphasis in financial planning." She said investment portfolios are developed based on the client's objectives and risk tolerance.
Besides women in transition, the office provides financial advice and investment opportunities to people from all walks of life, including those planning for retirement, are newly widowed or divorced, or between jobs. The staff's expertise ranges from asset management to college funding and long-term care insurance. Mrs. Caine and her staff also present frequent seminars in the office on issues for women business owners and other topics.
"Anyone with money in motion is a great person to work with," Mrs. Caine said. "We're planners. We'll do the plan first and then fit in the appropriate investment."
Mrs. Paynther said a "universe of mutual funds" is open to the planning firm. "We're not tied into anything."
"We're here for a common goal," said Mrs. Olgin, "to do our jobs and provide the best service for our clients. Our office is very comfortable and friendly."
Mrs. Boksansky, a part-timer, assists with technology.
With age being an asset, the staff members bring years of community involvement. An active member of the Solon Chamber of Commerce, Mrs. Caine won the chamber's top volunteer Chairman's Award in 2004. She is co-chair of the chamber's women in business committee and founder and past president of the Visionary chapter of Business Network International.
Mrs. Caine and her husband, Kevin, have been volunteers and contributors to the Boy Scouts of America for several years, and she is on the executive board of the Greater Cleveland Council. Both of their sons are Eagle Scouts, including Danny, a certified English teacher, and Matthew, a student at Kent State University.
A seven-year breast cancer survivor, Mrs. Caine participates annually in the Susan B. Komen three-day breast-cancer walk, as does her son Matthew and husband.
Mrs. Paynther also joins Mrs. Caine annually for the walk and serves on the board of Geauga County Habitat for Humanity, a nonprofit Christian ministry dedicated to providing quality, energy-efficient housing.
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