Member Spotlight: Robert James Investments

BY MELINDA RIZZO

Robert James Investments was the next step in Bob Podraza’s calling to serve clients financial planning needs.
 
As a fiduciary, financial advisor and planning professional Podraza wants to chart his next professional stage and steer its business succession.
 
Robert James Investments, which opened Aug. 1, 2021, is located at 1313 W. Broad Street in downtown Quakertown.
 
Creating a signature-named firm “comes with a high level of responsibility and commitment,” Podraza said.

A familiar face in Upper Bucks County, Podraza spent 10 years with St. Louis headquartered Edward Jones, a financial services firm founded in 1922 and serving clients in the U.S. and Canada.
Starting a company is never easy, but Podraza said the time was right – despite the challenges of opening a business during the coronavirus global pandemic.

From independent decision making and policies to having the ability to define service to clients, Podraza can steer the company by his vision. Among his top priorities is to continue service to clients and create a succession plan for Robert James Investments future.

“I have a long runway,” Podraza explained, “and my goal is to continue to remain healthy and serve families for at least the next 15 years.”

While the service area is primarily Upper Bucks County, Podraza continues to serve clients he met who have retired to Florida, and other parts of the country.

During the coming years Podraza plans to bring in “…some young energy who will understand my values and [enjoy] doing business face to face and continue deep relationships” with clients, he said.

He said while the coronavirus pandemic prompted more use of technology to keep in touch with clients, and he continued to make in-person visits to those comfortable meeting that way.
“Zoom meetings are great and are a great tool, but at the end of the day l believe people want to be together,” he said.

In-person prospecting is among the many valuable skills Podraza honed his time at Edward Jones.

“I believe that’s the best way to begin a relationship,” he said.

Finance, insurance and investment are significant contributors to the economy.

According to the U.S. Department of Commerce International Trade Administration, the finance and insurance sector represented about $1.5 trillion of gross domestic product (GDP) in 2018, or roughly 7.4%.
https://www.selectusa.gov/financial-services-industry-united-states

The growth-oriented financial services sector includes banking, asset management, venture capital and private equity and related professions.

For those at or nearing retirement, knowing money goals and desired outcomes can drive a successful financial plan.

Annual meetings review client goals and portfolio performance, and Podraza typically schedules these meetings on or near client birthdays to ensure current desires and goals are aligned and current with investment strategies.

As a fiduciary and a licensed Series 7 general securities representative Podraza must put client interests ahead of his own.

He is also licensed to sell annuities and life insurance “…as part of a complete financial plan.”
 
Robert James Investment Tips:

• Have a financial plan. The financial planning process should be based on specific goals or desires. For some that might be accumulating wealth to leave as a legacy – others may want to enjoy and spend down what they’ve saved and earned.
• Set parameters. Moving targets such as health care and its costs are the biggest risks and unknown factors in retirement financial planning. “We talk about these in the subjective part,” Podraza said.

Some subjective pieces of financial planning include:

• What do you enjoy? For some that might mean a boat, international travel or a vacation home.
• Do you sleep well knowing the money is safe? Security and steady or low risk investments may provide peace of mind.
• Do you want to share your wealth now? Some may want to gift grandchildren with financial support for college or other educational expenses.

Some objective pieces of financial planning include:

• Know your retirement number. “Everyone has a number in mind they would [ideally] walk into retirement,” he explained.
• Are assets invested appropriately with respect to goals and risk tolerance?
• Do you prefer to have ready cash or a “large cash position” on hand at a local bank for emergencies?
• Do you have real estate or rental income?
• Do you have a small business from which you receive income?
• Know your tax obligations.
• Take time to understand social security. Seeking information about social security is empowering. Understand opens at each age you are considering and how to navigate the process. “There are more options than people might consider on the surface.

With Social Security about 70% of retirees begin taking it at age 62 because that is when it’s first available to them. “That might not be in their best financial interest,” he said.

As a dependable source of retirement income – backed by the U.S. government, larger social security monthly checks can take the pressure off of other sources of retirement income, Podraza said.

“The difficult part is discerning these things and maybe they’ve been avoiding them,” Podraza said.

The Upper Bucks Chamber community is proud to have members like Bob Podraza in our region.  Special thank you to Bob for continuing his commitment to help individuals with financial services and serving on the Upper Bucks Chamber Board of Directors.  

​For more information on Robert James Investments contact Bob Podraza at 215.583.5013 or log onto www.robertjamesinvestments.com.

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