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Lucas McGary
Works to Simplify Financial Planning

By Nate Leskovic
Staff Writer
8/28/08

(previous)
“My job is to take the emotion out of investing,” he said, which involves showing statistical data to explain the ups and downs of the market. McGary said he has a number of ways to explain the way things work, catered to the financial knowledge level of each client. The firm offers guidance for retirement, stocks and bonds, college planning and a variety of other services.
McGary sees the ecomony in a “W”-shaped pattern. The markets temporarily picked up after the federal stimulus checks were handed out, though they soon fell back into a downslide. But things should be on the rise soon, he believes.
“You can never predict the bottom of the market,” he said. “But we’re heading on our way back up. I think we’re on our way out of it.”
One common misconception, according to McGary, is that the financial consulting business runs on commission – and that advisors do what is in their interest. McGary said he charges by commission or fee, whatever fits the situation. He said Edward Jones advisors are consistently ranked at the top in customer polls.
“There are a lot of brokerage firms out there,” he said. “We just have more of a personal touch.”
Because he is alone in his office, without anyone to report to, McGary said his work is “just all about the client.” All of his decisions are checked by those higher up in his company to ensure they are best for the customer.
Another benefit of doing business through Edward Jones, according to McGary, is that it isn’t a public company and has no shareholders to worry about.
“Our stake is in our clients,” he said.
As a new school year begins, McGary is encouraging parents to begin thinking about college preparation. He plans to hold seminars in the coming months.
“Usually the best time to start is when a kid is 2 or 3,” he said. “Even as little as $50 a month or week will greatly appreciate with compound interest.”
With tuition rising around seven percent a year, according to McGary, it’s important to look into starting a plan – similar to a retirement 401k.
Plus, McGary said he will review your finances for free and give advice on choosing mutual funds.
Call 617-696-0772 for information.