2023 Trusted Advisers: Brian Lumley

With a laser-focused expertise in workplace retirement plans, financial adviser Brian Lumley has significantly impacted his client’s retirement goals and continually strives to stay at the forefront of industry trends. With over $260 million in client assets under his management, Lumley’s commitment to fiduciary responsibility and client success has remained a top priority during his 26 years in the industry.

“My practice is focused solely on workplace retirement plans,” Lumley says. “Our goal is to take the complex world of fiduciary, regulatory and investment oversight for qualified plans and develop it into an easily understood and easily implemented set of standards, for both plan sponsors and plan participants.”

Longtime client Bill Beadle, partner at law firm Tolbert & Beadle LLC, has worked with Lumley for 20 years.

“When we first began working together, I was impressed with the tools and resources Brian was able to implement and begin using to help us manage our fiduciary roles and responsibilities,” Beadle says.

As branch manager of a workplace retirement group for Raymond James Financial Services Advisors Inc., Lumley operates as a full-service 401(k) adviser, providing fiduciary solutions that extend beyond traditional advice and education. His commitment to serving the retirement plan industry exclusively, rather than diversifying into other areas of financial advising, has allowed him to build a practice above $200 million in AUM since 2020 with clients throughout southwest Missouri.

Lumley remains current with industry trends as an accredited investment fiduciary through the Foundation for Fiduciary Studies.

“This designation also gives clients the comfort of knowing I have met the educational, competence, conduct and ethical standards to carry out a fiduciary standard of care and serve their best interests,” he says. “It also helps ensure I stay informed of industry and legislative changes and maintain a fundamental understanding of the principles of fiduciary duty, the standards of conduct for acting as a fiduciary, and a process for carrying out fiduciary responsibility.”

Additionally, Lumley is a member of the Raymond James Executive Council and the Raymond James Retirement & Institutional Advisory Council.

Prior to becoming a financial adviser, Lumley worked full time at Kraft Heinz Co. while earning his undergraduate and graduate degrees in business from Drury University.

“I was responsible for the scheduling, production and distribution of nearly 40% of the tonnage at the Springfield plant until I left to build my practice at Raymond James in 1998,” he says.

Outside of his professional commitments, Lumley and his wife are active members of Northside Christian Church in Springfield, where they support various local charities and ministries. Notably, they played a crucial role in founding Acts of Service, a local charity that provides food to those in temporary crisis in southwest Missouri. Their efforts have resulted in the delivery of over 2 million pounds of food since the charity’s inception in 2020.