LONGVIEW, Texas — To break through the intimidation they may have felt at big-name investment firms, Paula McCauley at East Texas Professional Credit Union, has a four-prong approach.
Financial service representative McCauley said she listens to them explain their money goals, "[lets] them know I'm listening," puts together an allocation model that fits with their situation and educates. The financial adviser has approximately 450 clients with roughly $40 million in assets under management.
"One of the biggest concerns I hear is 'am I going to lose all my money,'" said McCauley, who has been at ETPCU for more than five years. "We tell them credit unions are different than banks. We're much more conservative. They need that reassurance and they want someone to talk to them in everyday English."
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Prior to coming to the CU, McCauley worked at global wealth management firm UBS Investment Bank and is one of CUNA Brokerage Services recent Women of Distinction financial adviser honorees. She's noticed that some new members are cautious when meeting with her for the first time even more so after the big bank upheaval last October.
"Sometimes they feel a little intimidated after [past experiences of] walking into a Merrill Lynch, Smith Barney or UBS," she said. "If my clients understand what they have, then they are much more comfortable with owning it. They don't panic."
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