Hesh Reinfeld: How tall are you, Jim?

Jim Zalenka: I'm six feet, seven inches. But I have to ask, Hesh, why is that your first question? Aren't we supposed to be talking about my work as a financial planner?

Jim, I hate to tell you this, but the first time someone meets you, he's not going to be thinking, "Can this guy help me retire in five years?" No, he's looking at you and wondering...just how tall are you?

Sounds strange.

Remember, I am trying to get at the questions individuals may have, but are embarrassed to ask.

That's fair. Let's try the second question that people might have.

Something very important, I guess. What do you think that would be? Why do you shave your head?

Hesh, that's enough. Let's get down to the meaty and important issues.

Go ahead Jim. If you don't like that question, why don't you ask yourself the first question and answer it.

Well, my first question would be, how long have you been a financial planner?

OK, now answer the question.

Seventeen years: five years with American Express and twelve on my own as an independent financial advisor.

Do you feel better now? You know you can just hand the person your resume, shut up for a minute and have them read it.

Ok, Mr. Professional interviewer, I give up! You ask the questions.

Thank you. How are you different then all of the other fine advisors in Pittsburgh?

I care about my clients.

Sorry, Jim, I have to stop you again. That statement is really meaningless. Every business says that they are into customer service, and that they are always available to answer a question day or night.

Honestly, I really do care as a person.

Jim, I know you do. In preparation for this interview I spoke to four of your clients. I know they were biased because I asked you to give me their names. So, I met with them in their homes and just listened.

What did my clients say to you?

Just what you said: you care. You are there when they need an advisor and when they just need a friend. One woman said that after her husband had a life-threatening illness, you were the first person she called after talking to her immediate family. (And that you actually were at the hospital more often then some of her family.)

Yes, but I did that because we've developed a very close relationship. Obviously I don't have that kind of relationship with all of my clients.

I realize that. But it was heart-warming for me to hear it from one of your clients. Lets get back to Jim, the financial advisor. What are you most proud of?

The phone in my office doesn't ring often.

Why are you proud of that?

It means my clients are content with the plan I've developed for them, and the service they are receiving, and they don’t need to call me.

That's an interesting perspective.

Let me add to that. I don’t work well with a client that is constantly calling me. If he wants me to react to every dip in the stock market, then we won't work well together.

What other type of client would you prefer not engage you?

Someone who doesn't know how to save money. I don't care how large their yearly income is. If they spend all of it, and some even spend more than they earn, then we won't work well together.

Why is that?

Because the first thing I'll tell them is to stop spending all of their money. It may be something they don't expect to hear from a financial advisor. They may even ask me to leave. And I'm OK with that.

Jim, as a financial advisor, what is the first thing you talk to your clients about?

Clients come with a concern for the future. Will the stock market be a good place to invest in the coming years? Can I promise them above average returns?

Well, you can do that, can't you?

I can't. And legally the government won't even let me say anything about future gains. I believe in acting prudently. Therefore investing in stocks is part of good long-term game plan. And, I do believe in finding investments that charge very low annual fees. And as an independent advisor I can offer that lower cost product.

What is some of the sage advice you do give your clients?

Avoid any investment or strategy you don't completely understand. I'm always amazed at people holding strange investments they were sold by someone, and when I ask, "Why did you buy that?" Or perhaps even, "What kind of investment is that?" They just don't know.

Tell me about the name of your financial advisory firm, Baran James Company. Are you some kind of royalty or what?

My mother's maiden name happens to be Baran. I have fond memories of my grandparents.

Jim, I got a sense from talking to your clients that you focus on more than just dollars and cents.

Yes, one thing I can promise for sure is that life will throw a few curves--to everyone. Things will happen that were never expected. And I am not thinking of "bad" things only, like getting ill, losing a job, or having to support an adult child. The future also holds the possibility of a new blended family; young children in your life again when you never thought it would, ever happen; an opportunity to start a business when you are 58 years old or the decision to retire a few years earlier than expected. My real job is to be there when these opportunities and/or challenges arise. I need to help clients to keep their financial game plan flexible--so that we can respond to these new situations. Also, I'm not saying I'll have all the answers. I do promise my clients that I will help bring around the table the right people and resources for them to make sensible decisions.

That reminds me of a comment by one of your clients. They needed an attorney. You did some research and suggested a few. Then, and this is the surprising thing, your client asked you to join them when they interviewed the attorneys. Actually, a few of the attorneys were not sure why you were present and asked you to leave when they started asking some very confidential questions of your client.

Yes, I was ready to leave but my client asked me to stay. He said I was their most trusted advisor and I needed to be there.

Now, that is impressive and it shows a very high level of trust.

Thanks, but I have to be honest....I don't have many of situations like that.

OK, Jim, let me finish up. So... why do you shave your head? You never answered the question.

Hesh, this is your powerful ending for our interview?

I just want to know.

Hesh, I can honestly say: it's none of your business!