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High ranking financial group comes to Beach

4 min read

The Edward Jones financial group – ranked second on Forbes magazine’s 2009 list for “100 Best Companies to Work For” – is coming to the south end of Fort Myers Beach.

Financial advisor Eric Tibbs will open the new company branch at 7205 Estero Blvd. in Santini Marina Plaza May 5, and he’s excited about the opportunity.

Tibbs, who moved to the Beach nearly a year ago, was driving to Bonita Beach Dog Park with his two pets when he noticed a vacant suite in Santini Marina Plaza. He thought it would be a great place for an Edward Jones office and called the company’s headquarters in St. Louis for approval.

“They said ‘go choose one of these three intersections that we have already plotted out,” said Tibbs. “So I picked one and moved down to the Beach last June.”

Tibbs will move into the suite that was formerly occupied by Fort Myers Beach Florist.

“I was very lucky to get that office,” he said. “That’s prime real estate right there on the corner. There’s a lot of walking traffic this time of year. Al Durrett (owner of Fish Tale Marina and manager of the shopping plaza) was one of the first people I introduced myself to on the island. Once I got approval to open an office, I asked him about openings and he said ‘sure, the old florist spot.'”

Edward Jones, a company that has provided financial services for individual investors in the United States, Canada and England since 1871, models itself to build long-term, face-to-face relationships with clients while helping them understand and make sense of available investment options, according to Tibbs.

“I walk around, knock on doors and introduce myself,” he said. “Every day, I try to get out and meet new neighbors. Our whole philosophy is to service the individual investor and we do that on a community basis. That’s why I go out and meet individuals at their homes. I do a lot of business sitting around people’s kitchen tables. That’s where people feel most comfortable.”

Tibbs, who was a civil engineer in the U.S. Air Force, explained that Edward Jones is one of the only limited partnerships left on Wall Street. He is happy to be living in a smaller community where he is a member of the Kiwanis Club. Recently, he was the logistics chairman for the Fort Myers Beach Relay For Life.

“I grew up in Colorado and never lived in a small community,” said Tibbs. “It’s kind of neat when you go into a Publix (supermarket), see the mayor and say “Hey Larry, how are you doing.’ I’ve never heard of a place where you can talk to those people. That’s really cool.”

Edward Jones has roughly 50 branches in Lee County.

“I run a profitable, ethical business,” said Tibbs. “That’s something I pride myself on. My ultimate goal is to help everybody in whatever capacity they need – whether it’s buying or investing. It’s really rewarding to be able to help people.”

Tibbs is trying to reduce the hesitation people have about investing funds.

“My first appointment with people is about what investing is, the basic things you can buy and, ultimately, what to do with your money,” he said. “What does Tuesday at 10 a.m. look like to you when you retire? Are you sitting on your boat in the Gulf or are you doing community service work? I want to help them decide how to make the most logical plan with the least amount of risk to get to that point.”

Tibbs explained the basic ways to distribute one’s money.

“You can either spend your money, you can loan it to somebody or you can own something,” he said. “If you’re loaning, you can do a certificate of deposit, put it in a savings account or you can buy a bond.”

Despite the stock market collapse, Edward Jones has expanded by hiring nearly 1,000 new financial advisors in 2008. With that, Tibbs believes now is the time to buy stocks.

“If you go to Wal-Mart and see a 50-percent-off sale, it’s a great deal,” he said. “Well, all the companies in the United States are now 50-percent off. The market is going to return. When you buy low, you can sell high.”

Tibbs also stressed the importance of quality investments.

“Mom always said don’t put all of your eggs in one basket,” he said. “If you diversify and buy lots of quality things over a period of time in lots of different areas, then you hedge that risk. I try to make sure people know what they’re buying and why they own it.”