Farm Bureau expands services to include wealth management

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By Caroline Rosacker

Farm Bureau Insurance has been serving Iowa Farmers for the past 81 years. The insurance company was founded in Des Moines in 1939 when the state Farm Bureau created the Iowa Farm Mutual Insurance Company in an effort to meet the unique liability needs of Iowa farmers. 

The expanding company grew to include auto, home, property, business, health and life insurance. Its customers are no longer limited to the farming community but now include people from all walks of life. Farm Bureau has recently broadened its services to include wealth management. 

Local Farm Bureau agent Justin Leonard has been employed by Farm Bureau since 2010. He and his wife, Courtney, reside in Dyersville with their two children, Henry and Caitlin.

The family man shared his hobbies, "I enjoy hunting, fishing and barbecuing. Basically anything outdoors. I am an avid Hawkeye and Cubs fan."

Leonard graduated with a degree in finance from the University of Northern Iowa and in 2004 began working with investments in the Des Moines area. 

Farm Bureau Wealth Management

Leonard explained, "Farm Bureau has had investment options in the past, but now we have grown to include wealth management and financial planning services. Being able to provide a comprehensive financial plan is something a lot of people haven't had access to previously." 

Leonard is now a licensed financial advisor. He explained, "This means I can create financial plans for individuals. The access to other financial opportunities for clients is something that I am excited to share with members of the community and beyond."

Financial planning software

"Farm Bureau Wealth Management uses Money Guide Pro, Circle Black, and Riskalyze software in determining your future financial needs. The software program supplies different financial scenario simulations, and performs risk analysis by building models of potential results by substituting a range of values," said Leonard. He further explained, "The analysis is different for each individual based on their risk tolerance and the other objectives they wish to achieve. It can be as simple or detailed as a person wants to make it. Social Security funding projections are a big component that many people appreciate seeing." 

Leonard stressed, "You are going to need a road map of some sort in your financial planning or you are going to be lost. The Monte Carlo analysis software program allows us to supply  a multitude of different financial objectives, and factor in possible financial risks and scenarios in an effort to give you a clearer vision of the amount of money you will need to set aside in order to make your financial dreams a reality." 

Leonard gave an example: "Let's say you would like to retire in a couple of years. Your dream is to purchase a luxury watercraft so you can enjoy the Mississippi River in comfort. We input all your financial assets into the analysis programs. The software creates a financial plan for your vision taking into account possible market fluctuations and unforeseen financial stressors that could take place in your personal life and in the global economy." He continued, "Maybe you need to work a few more years to get that boat or maybe you're able to retire early with the boat. The projections will give you very detailed information for the future." 

"Many investment firms don't want to take the time to manage smaller accounts. Many require a minimum amount of assets invested before they will work with you. Farm Bureau welcomes anyone that has questions and concerns about their future financial outlook," he said. 

Farm Bureau employs approximately 16,00 people and has 4,000 field associates. Farm Bureau continues to support the company's mission – to enrich the lives of members and strengthen communities – rural, urban and in between. 

For additional information contact Justin Leonard at 563-252-3754, cellphone 563-329-0123, or email justin.leonard@fbfs.com.

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