The Barber family has cut their longstanding ties with Edward Jones, stretching three generations and more than 40 years, to open an independent firm.
On March 3, Jason Barber opened Holistic Planning along with his father, Steve Barber, and cousin, Taylor Pankratz, in an effort to expand services.
“We didn’t do it lightly. There was a lot of prayer, a lot of planning and a lot of thinking,” Steve Barber said. “Our passion is to take care of people that will entrust us with their wellbeing for the rest of their life and into multiple generations.”
The transition also got the blessing of Steve’s father, Paul Barber, who opened Nacogdoches’ first Edward Jones office in 1981.
“He started the legacy. It would have been disrespectful to not have that. He was so excited and so in favor and so supportive,” Steve Barber said. “One of the first things he said was ‘What took you so long?”’
Paul Barber didn’t get to see the transition to independence come to fruition for his son and grandsons. He died in January at age 90.
“Edward Jones has been a part of our family’s culture and identity for 41 years. We don’t have any ill feelings toward Edward Jones. We just felt like we outgrew the firm,” Jason Barber said. “The services we wanted to be able to deliver, we wanted to have more autonomy and control.”
Holistic Planning offers a solely fee-based model. Planners are not paid commission and have a fiduciary responsibly.
“That means we always have to put the people we help’s best interest first. We would argue that we’ve always done that, but now we’re obligated to do that,” Pankratz said. “We work for them and no one else.”
The firm will also provide more comprehensive services like strategic tax planning, estate planning, retirements and charitable giving.
“If it has a dollar sign we can give you advice on it,” Pankratz said. “That’s where the name came from, the holistic view of your finances.”
Becoming an independent firm also allows the family more freedom in hiring. They hope to form a partnership with Stephen F. Austin State University to hire graduates of the financial program.
“That benefits us. It benefits the people we help. It benefits the community. Everybody wins,” Jason Barber said.
Holistic Planning is at 2714 N. University Drive, Suite 100. For more information call 936-800-0800 or visit holisticplanning.com.
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