The Herald Bulletin

Morning Update

Annual Report: Business & Industry

March 29, 2010

Profile: An interest in the people side

While many may enter the field of investment management because they love dealing with money, Bruce Cain’s interest peaked at the people side of the business.

“I always had an interest in finance and wanted to help people with my knowledge,” he said, sitting in the office of Overdorf Financial Services on Indiana 9.

Growing up in a family of farmers – and actively farming his own land in Marion until 1998 – provided Cain with a down-to-earth, practical demeanor, enabling him to ignore the emotional impulses that drive people to make mistakes with their finances.

“The emotional side of people makes them want to bail out of the market when things look bad,” he said. “That’s really the time to buy. And the emotional side pulls people to want to buy when things look good – but that’s really the time to sell.”

Dealing with client’s emotional states during this last year or two of economic trials has been a challenge for Cain. Noting that people remember losses more distinctly than they remember gains, he expressed compassion for those that were planning to retire, but suddenly could not due to the stock market plummet.

“During that time I made sure I was talking to the clients more often because in uncertain times, people need more assurance,” he continued. “Knowing we do not all have the same risk tolerance and knowing what they want to accomplish is a big part of success.”

Readily admitting that retirees living on a fixed income have not had a lot of good alternatives in the last year or two, Cain points out that bonds have performed well for them. However, once interest rates begin to rise – “the only way they can go” – the performance of bonds will decrease.

“In the long term, our country has been built on innovation,” he said, mentioning that stock-mutual funds are up 50 percent from where they were when they bottomed out a year ago. “We will recover over time. When things go down as much as they did in 2008, it’s not really collapsing. We just need to give it time.”

Defining the best part of the job is easy for Cain.

“Feeling like you help people,” he said. “A phone call blew me away near the first of October. One of my clients called just to say thank you for how much her statement went up. Those things make me feel like I’m helping and educating people.”

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Annual Report: Business & Industry
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