Lou LoFranco has been paying strict attention to his own finances since his first check from his first employer. As his career grew, he watched over multi-million-dollar budgets for multi-national firms until age 57, when he earned his licenses to be a financial advisor and found his true calling.
“My father was in the Air Force and was stationed along the east coast as I was growing up, mostly in New Hampshire, but we spent time at Homestead Air Force Base during the Cuban Missile Crisis,” LoFranco recalled. “I loved the weather, so when I graduated high school, I was off to Biscayne College, now called St. Thomas University, on a golf scholarship, graduating in 1980.”
LoFranco was always interested in the financial side of businesses and 401Ks. “I did research deeply and got to know a lot about finances and started helping my parents and cousins and brother,” he said.
Throughout his career, LoFranco worked for UPS, as a consultant for GE’s wind turbines business and at other multi-national corporations, often commuting from South Florida to northern locations, all the while continuing to invest and learn more and more about his own finances.
He and his family loved the weather here and always had their eyes on getting back to the South Florida lifestyle. LoFranco has six children, ages 16 to 33. At age 57, with kids at home, he found out that his position in Juno Beach was eliminated in a cost-cutting measure. It was a late age to be at a crossroads.
“I was considering retiring,” LoFranco said. “But my Edward Jones financial advisor said, ‘Why don’t you come work for us. You have the background.’ So, I earned my licenses, and it was the best move I ever made.”
In 2017, a Wellington office suddenly became available, and LoFranco stepped into the position. He said that the area is a great place to be. “The community is tremendously supportive,” he said. “I teach clients about investments. The most important thing I believe about investing is finding out what’s important to the client.”
LoFranco spends a lot of time finding out about a client’s objectives, sometimes meeting with them several times just to answer questions to understand them and determine if he would be the right advisor for them.
“We work at building a portfolio based on their long-term goals. My job as their financial advisor is to be a teacher who teaches his clients what we are doing so they know what they are investing in and why,” LoFranco explained.
LoFranco enjoys the Edward Jones style of building a personal relationship with clients even though the firm cares for $1.3 trillion in client assets. “You don’t get lost in the shuffle waiting for someone to see you,” he said. “I develop long-term relationships with my clients. I use the talents that God gave me and the knowledge I have gained over a lifetime to help my clients.”
LoFranco said that he loves the community of Wellington, visiting its great restaurants, retail shops and golf courses. “Our business is about relationships. It’s not about money, it’s about reaching goals. It is important to know what really matters to my clients. We try to instill the philosophy of buy low, sell high and hold for long-term investments.”
Each client is different, he said, yet they all have their own financial dreams. “When I understand those goals, I can help them work out a strategy to reach them. It is a partnership,” LoFranco said. “I ask them where they see themselves in retirement, or 10 years, or 20. I ask the important questions and give them ideas, so we have the whole picture, and we do the planning that is right for their particular situation. I think that is how we add a lot of value for our clients.”
For a second career, LoFranco is enjoying every day of it. “Working with talented team members like Marlene Siflinger, the front-line branch office administrator who is essential to the firm, I have no ambitions to retire as long as I can continue to help people save for the future,” he said.
He also enjoys Wellington’s equestrian amenities.
“I like to go watch the Grand Prix on Saturday nights,” LoFranco said. “I believe in getting to know as many people as we can. Edward Jones is still big believers in the local community. That’s how we started with Ed Jones himself almost a century ago, going out and introducing himself face-to-face and beginning that personal relationship that is so important to build that trust.
Lou LoFranco’s office is located at 12020 South Shore Blvd., Suite 100, in Wellington. To contact LoFranco, e-mail lou.lofranco@edwardjones.com or call (561) 798-4106.