Understanding how money works is a great motivator for Kraig Bode, and that knowledge helps draw wealthy clients his way.
“I like bringing that education piece to my relationships,” the financial adviser says. “Being able to crunch the numbers for a client and bring back the hard data on when, and how, they can meet their goals often empowers them to be more present in their financial life.”
It’s working for over 350 clients he manages at Penney Murray & Associates, a financial advisory practice of Ameriprise Financial Services Inc.
Bode boils down his roll as an adviser to being trustworthy and comprehensive.
“A thorough understanding of each family or business situation is important to giving good and timely advice,” he says.
“My clients depend on me and my team for all things financial and personal.”
Bode’s assets under management have grown 45 percent over the last three years to top $60 million in 2015. He works with a team of 21 advisers, ranging in age from the late 20s to the late 60s in order to address circumstances unique to each generation.
“We are able to align them with an adviser that they can easily connect with,” he says. “Planning across generations benefits both the family and client, by building confidence in the succession plan, easing wealth transfer, and educating and assisting younger generations through their accumulation phase.”
When it comes to business clients, Bode tasks himself with addressing the challenging items of retirement planning – both for the owners and their employees – business and personal taxes, employee retention and regulatory requirements.
“Outside of retirement plans, I’ve helped a lot of small-business owners plot and plan their course for the future, prioritize financial goals and evaluate data about their business, from running breakeven calculations to debt strategies,” he says.
Bode earned a bachelor’s in finance from Missouri State University in 2005 and was hired by Ameriprise Financial/Penney Murray & Associates right out of college. He’s worked at the 75-employee firm ever since.
Within Minneapolis-based Ameriprise, Bode is in the Top 1,000 adviser practices, recognized in April during the firm’s national conference in Las Vegas. The company employs over 12,000 people across 10,000 offices.
Bode is a member of the College for Financial Planning and in 2011 became a chartered retirement plan counselor.
In the community, he was active in Springfield Sertoma Club, spending two years as treasurer, and as a charter member of Springfield Metro Rotary. He currently is on the Child Advocacy Center’s Young Advocates Council, to raise funds and awareness for CAC. He also serves on committees and participates in the fundraising events for Burgers and Cheers and Wingapalooza, and is an active member of Springfield’s Best.
