Career, Community & Finance with Jesse Hurst
August 10, 2022
In today’s episode of the “The Runway Decade Podcast”, hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group, talk with guest Jesse Hurst, founder of Impel Wealth Management. Jesse shares about his career journey as a Financial Planner, and how he is serving the community. He also talks about his life in his 50s.
- 01:34 – Bill asks Jesse what was it about finance and financial planning that really got him interested.
- 03:00 – Jesse says, when he was 11 years old, he told his dad that he wanted a 10-speed bike, and his dad told him that if they wanted a 10-speed bike, he needed to go get a job. So, he took a job at the Akron Beacon Journal.
- 05:12 – Jesse mentions some of his favorite people who were the early sports stars.
- 07:00 – Jesse explains some crazy things that happened when he stepped into the business in 1987.
- 09:27 – Jesse shares, John Hancock’s agent said to him that the secret of this business is sustaining in it long enough to be successful.
- 11:30 – Bill enquires that Jesse managed to go and start his own firm. What went into the decision leading up to that?
- 12:20 – Jesse states that in 1990, he moved to an independent financial planning firm. He had the opportunity to work with a firm that still exists today.
- 14:04 – John Bogner says that for being a successful entrepreneur one has to be optimistically delusional.
- 16:34 – Jesse always had an interest in money, banking, and finance and he took every class in high school that he could around those areas.
- 18:46 - When he got into the business, he had the opportunity to get involved with things initially like the Chamber of Commerce or serving on a Benevolence Committee, or helping Budget Counseling for people who were struggling financially. Then that led to some leadership programs, says Jesse.
- 20:11 – Their programming is around helping kids understand Science, Technology, Engineering, and Math to apply that to their race.
- 22:19 – Bill enquires, how has life changed for Jesse through in his 50’s?
- 24:50 – The thing that is important for Jesse is having a vision toward balancing work and making life better.
- 26:35 – Jesse mentions that he’d love to get to the point where his wife and he took two weeks a couple of times a year in the future and got a chance to go and explore and live life together.
- 28:42 – It is understanding and taking advantage of that time together, states Jesse.
- 30:55 – Bill asks Jesse about his first and the best concert that he ever did?
- 32:05 – Jesse shares the name of his top three 80s movies.
- 37:09 - Impel means to impart motion towards a future goal or future destination, or to give somebody the confidence to move forward, states Jess
Three Key Points
- Jesse shares the best piece of advice he was given - John Hancock’s agent said to him, that for the first five years in this business Jesse will be horribly overworked and underpaid, and for the next five years, you'll be overworked and reasonably paid. If you can make it to year after year 10, you can be overpaid the rest of your life and Jesse had no idea what he was talking about. But it actually turned out to be to be pretty true. The other big piece of advice he received was from the two gentlemen who worked as like an inside outside team over there, John Hancock.
- Jesse says that for him building teams and systems that allow him to do that and being very particular and cognizant of what it is that's important in life beyond just work is really where they try to focus their time.
- Jesse highlights - their goal is to help, use their sound advice, inspire life planning process to help their clients, and address their key concerns. They find that there's four things that drive clients which is making smart decisions about their money, mitigating their taxes, taking care of their heirs, and magnifying their charitable gifts. Those are the things that they love to walk along clients, help them solve problems and prepare roadmaps for their future success.
- “If you needed money for something, you had to go work.” - Jesse Hurst
- “My dad said to me, he goes, Boy, you better hope you get a job where you make money because you've got champagne tastes and this is a beer enough.” - Jesse Hurst
- “I'd had no clients lose any money during that time period because I was so new to the business that I had no client.” - Jesse Hurst
- “Longevity will equal success, perseverance.” - Jesse Hurst
- “They both said to me, the CFP is the future of this industry. Don't go for the insurance go for something that's going to have a broader based financial planning appeal.” - Jesse Hurst
- “In 1997, the three of us decided to step out on our own and form our own firm.” - Jesse Hurst
- “Everyone’s process risk differently. Obviously, what we think is risky, someone else thinks are secure and safe.” – Pete Bush
- “I started off at the University of Akron, an engineering school and hated it, it was the worst. It took two semesters to get out of there.” - Jesse Hurst
- “Anything that I've done, I've tried to make sure it's congruent with value system and had an impact on kids and community in a positive way.” - Jesse Hurst
- “We talk with clients a lot about what are you retiring to not what are you retiring from.” - Jesse Hurst
- “If I had an extra hour every day, I would probably be reading something that I wanted to read for enjoyment, not because I have to read it for work.” - Jesse Hurst
- “I didn't want to have a name that was tied around mining.” - Jesse Hurst
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