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PROGRESS 2014: Prudential • Rick Lockwood
Bring your financial challenges to Prudential’s Rick Lockwood
The Prudential Insurance
Company of America
600 S Hwy 169, Suite 1000
St. Louis Park, MN 55426
Offi ce Phone: 763-367-3066
When you envision your financial goals, what do you think of?
That’s what Rick Lockwood wants to know.
Lockwood, a Financial Professional Associate with The Prudential Insurance Company of America, wants to help guide you toward financial freedom for all of life’s challenges. Prudential is a multinational Fortune 500 corporation, and the 139-year old company aims “to help our customers achieve financial prosperity and peace of mind.”
Prudential Financial was rated No. 3 out of 6 in FORTUNE® magazine’s 2014 World’s Most Admired Companies® ranking in the Insurance: Life and Health category. (March 17, 2014)
A 16-year resident of Mounds View, Lockwood wants to share his expertise with members of the community because he knows firsthand what it’s like to question your next step financially.
Lockwood first became interested in the financial industry when he started asking questions about his and his wife’s own retirement plans. He investigated options for his family and discovered life insurance options and retirement tools he never knew existed.
“There were a lot of really sensible financial options for us and people like us,” he explains, “And nobody had told me about it!”
So he decided to become the person others could turn to, whether to set up a basic strategy or focus the plans they have.
“My clients often ask me to help them take an overview of their current financial picture and see what opportunities there are to improve it,” he explains.
Lockwood advises clients in all different life stages, from young couples just starting their families to those in retirement. He’s happy to work with anyone seeking financial guidance: those who are planning to switch jobs or have already switched jobs, getting married, buying a house or planning for retirement. Having a financial strategy is about preparing for the future, while keeping immediate and short-term goals in mind. Lockwood seeks to understand each client’s situation so he can help them adapt to new challenges and opportunities.
“My approach is conversational and holistic,” Lockwood says, noting that when he assists clients, he’s listening for their priorities and dreams. “I let them steer me in which direction I can help them,” he says.
For example, Lockwood explains that when people switch jobs — which is happening with more frequency these days — they often end up with multiple 401Ks. Lockwood helps his clients consolidate their 401Ks so they’re easier to manage.
Lockwood also works with retirees to find ways to spend and save money sensibly. He shows them how to take advantage of various tax favored strategies as well as the best ways to distribute their IRA and Social Security monies in the most tax efficient manor.
“I offer a second opinion and find ways to tie together those pieces to make sure their all working toward the ultimate goal, which is that their money doesn’t run out before they do,” he says.
Lockwood believes the meetings with clients mutually benefit both himself and the client in the long run, and build trust.
“It’s about creating a relationship and committing to each other to work together for the long term,” Lockwood says.
Prudential Financial, its affiliates, and its financial professionals do not render tax or legal advice. Please consult your tax and legal advisors for advice concerning your particular circumstances. The Prudential Insurance Company of America, Newark, NJ, and its affiliates
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