With nearly two decades of financial planning experience at one firm, Dan Malachowski believes in the power of building strong relationships – both for his clients and in the community.
As managing member of Baron Financial Group LLC, Malachowski says the development of trust in a relationship is the most important part of the client and investor experience at the company he purchased in 2007. He says the majority of his roughly 400 clients have done business with Baron Financial Group for years. Assets under management by Malachowski have risen consistently the last three years to $40 million in 2017 from $32 million in 2015.
“Trust is such a vital component to choosing a financial adviser, and it is something that is earned over time as the relationship grows,” he says.
While his role centers around the management of investment and insurance needs for clients, Malachowski says it comes with a lot of other responsibilities, such as debt counseling and settling estates. His responsibilities reach outside the office as well. Malachowski expanded on a financial literacy program he developed and now teaches at Missouri State University, Habitat for Humanity of Springfield, Harmony House and the Missouri Job Center.
Malachowski says classes at Harmony House and the Missouri Job Center are held monthly, and the Habitat for Humanity and MSU classes are offered a few times annually.
“My goal is to continue to expand these classes and to help those who struggle with their finances by teaching them the basics,” he says. “I feel that if we are going to deal with the issue of poverty in our community, this is one of the key factors to help get individuals on the right track.”
Another teaching avenue for Malachowski is in helping business owners understand how to save tax dollars by utilizing a company-sponsored retirement plan. He also created an educational workshop to assist clients’ employees and their spouses on how to improve their financial situations.
“One of the major leading causes of stress in the world is money, so I work with the employees to give them tools to alleviate some of that stress,” says Malachowski, a Springfield Business Journal 40 Under 40 honoree in 2014. “It is very much a two-way street, in my opinion. The retirement plan helps all who are involved, but the education of the employees can help with company loyalty and retention.”
Beyond his financial planning efforts, Malachowski is actively involved in the nonprofit world, serving on the boards of Big Brothers Big Sisters of the Ozarks Inc. and Developmental Center of the Ozarks. With those organizations, Malachowski assists in fundraising, noting he has helped raise over $1 million for BBBS in the last nearly five years through events, such as Taste of the Ozarks, Bowl for Kids’ Sake and Ozarks Beerfest. He also is part of the executive committee for Rock’n Ribs BBQ Festival and the finance committee for the Springfield Little Theatre.
SBJ survey data is used to analyze the flow of money.
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