Name: Joel Bird
Company: Legacy Financial Partners, an affiliate of Ameriprise Financial
Location: Bismarck, North Dakota
Assets Under Management: $3.9 billion
Recognition: Forbes Rankings – America’s Top Wealth Advisors, Best-in-State Wealth Advisors, Best-in-State Wealth Management Teams
Background: Joel Bird hails from a farming background in a quaint town near North Dakota’s border with Canada. After earning a degree in accounting from the University of North Dakota in 1999, he briefly ventured into tax work before joining Ameriprise as an advisor in 2000. Over a decade later, he founded Legacy Financial Partners in 2013, aiming to pool resources and collaborate with fellow advisors. The team flourished, expanding to 112 employees across 29 locations in six states, serving over 15,000 clients.
Building Relationships: Bird’s ethos revolves around assisting clients in realizing their financial aspirations, primarily retirement. In a predominantly rural state like North Dakota, Bird adopts a no-minimum approach for new clients, often relying on referrals from existing ones. He emphasizes personalized client service and maintains communication through various local events hosted by Legacy Financial Partners offices.
Competitive Edge: Drawing from his experiences bartending during college, Bird values hiring individuals from the service industry for their adeptness in handling diverse personalities and emotional states. This background equips his team to navigate market uncertainties and client reactions effectively.
Investment Philosophy/Strategy: Bird adopts a holistic planning approach, tailoring investment strategies to each client’s risk tolerance and time horizon. He employs a bucketing strategy to segment assets into short, medium, and long-term categories, advocating for a mix of conservative and aggressive investments based on individual needs.
Additionally, Bird incorporates alternative investments, leveraging North Dakota’s natural resources for diversification.
Investment Outlook: Despite client concerns about inflation, the Federal Reserve, and election years, Bird remains optimistic about a potential soft landing. He anticipates the Fed to initiate rate cuts later in the year, maintaining a positive outlook on the market’s long-term trajectory.